Category: Running a Business

How to Improve Your Business Credit Score

How to Improve Your Business Credit Score

Building business credit has paid off for Coleman's A/C Heating & Appliance Repair. “(Our) credit scores allowed us to secure a loan, which we used to expand our operations and add a company vehicle,” says April Coleman, vice president of the Jackson, MS-based business, which specializes in the repair, maintenance, and installation of air conditioning, heating systems, and household appliances. How did they do it?  “To improve our business credit scores, we first signed up for a credit monitoring app… Read More
How To Organize Your Small Business Finances

How To Organize Your Small Business Finances

Organizing your business finances can be a challenge, whether you’re a new small business owner just starting out or growing your business.  When Rosie Ferrero started her ecommerce business, Roupa Fashions, a boutique that curates designs and styles from around the world, she did something smart: she opened and used a business bank account. But she found that keeping all her money in one business account didn’t give her the insights she needed to make informed decisions about her finances. … Read More
How To Build and Keep a Solid Business Credit Rating Before the Holidays

How To Build and Keep a Solid Business Credit Rating Before the Holidays

Every year, the holiday season seems to start earlier and earlier. For small business owners who rely on holiday sales, it’s never completely out of mind.  One factor that can impact a company's success during the holidays is its business credit rating. A solid credit score can open doors to better financing options, more favorable terms with suppliers, and increased flexibility in managing cash flow during this hectic time. The holidays are a key time for Myrlande “Mimi” Desances, the… Read More
Inflation and Rising Costs: What Businesses Should Know in 2024

Inflation and Rising Costs: What Businesses Should Know in 2024

Inflation rates have “hugely” affected LaToya Redick’s business Redick Beauty Affect, a company that sells all natural skin care and cosmetics. As a relatively new business owner, Redick says she has not been able to participate in the in-person events she is confident would be valuable for connecting with customers. She’s found herself “trying to figure out how to keep it up and going with little to no resources.” She’s not alone. CNBC, First in Business Worldwide, and SurveyMonkey’s quarterly… Read More
Must Do Checklist for Small Business Financial Checkup

Must Do Checklist for Small Business Financial Checkup

Every Friday, Margo Burr, a public speaking trainer and Founder of B7 Media Relations, reviews her business finances. Using her accounting software and spreadsheet, she spends about 30 minutes checking in on her business spending and revenue. She also sets quarterly goals and checks in monthly.  “It holds me accountable,” she says, “and helps me see in real time what I spent.” Whether you are a small business owner with a startup, or have several years under your belt, regular… Read More
What is the Highest Possible Credit Score for Small Businesses

What is the Highest Possible Credit Score for Small Businesses

Quick question: what’s a good business credit score? When I’ve asked small business owners this question in webinars and workshops, they often guess numbers like 700, 750, or sometimes, 100.  The answer, I respond, is “it depends.”  That’s in part because the number that represents the highest possible credit score for small business depends on the scoring model used. And the other reason it depends is that each lender decides for itself how much risk it's willing to take. To… Read More