Business Partner - Should you take one on?

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Are you Opening A Small Business with a Business Partner?

Are you Opening A Small Business with a friend or loved one? Does your Business Partner have credit? Do you know his or her Fico Score? If not, this could be a fatal mistake.

This is very important Small Business Advice! Establishing business credit early-on will play an important role when your business grows and you need to acquire Small Business Financing.

If you or your partner have credit issues, you need to take the proper steps to fix those problems now. Help your Business Partner improve his or her credit score. It may be easier than you think!

Don't wait for your finance manager to say, "I'm sorry Mr. Customer but unfortunately, we can't approve you for the automotive lift financing at this time. Your partner filed for bankruptcy just 2 years ago. We really need to see re-established credit for at least 5 years after a bankruptcy."

This is Small Business Advice that you want sooner rather than later. Not knowing about your partner's past credit problems could put a major monkey-wrench in your business plans!

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