By Pamela Williams

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Establishing a business credit and keeping it in excellent standing is important for any business. Even if you’ve started as a home based business or a small business, surely you have plans of making it bigger in the industry. Sooner or later, when your business gains experience in the market and your client base grows, you’ll be planning on the expansion of your business. With this in mind, having an excellent business credit to back you up would definitely be an advantage.

Perhaps you may have acquired business loans or business credit cards using your personal credit history. But once the business has been started, you should make the move to establish a separate credit history for your company. Why is this important? A business credit gives your company a more credible standing in the eyes of lenders, investors, suppliers, and other businesses that you’ll be dealing with.

How do you establish credit in business?

First, you need to set your business identity. This is done by registering your business as a corporation or an LLC (Limited Liability Corporation). You’ll also need to secure all business licenses required by your local state. Having a physical company address is another major requirement in order to be recognized as a legitimate business. read more