Guide to Establishing Business Credit

Starting your Business

There are many aspects to starting a business, but here we will talk about licensing your business.  There are various types of licenses,.  Most cities, counties, states and even federal government require some type of licensing.   Nearly all businesses need a local  (city or county) license, however you can check with your  county government or local city hall to be sure.  A Local business license will give you, the business owner, the legal authority to operate your business within that city or county.  These types of licenses are very easy to obtain. See sample application below:

Step Two

Requires you establish your Limited Liability Status.   This is a very simple process even though most sites will charge you from $800 to $1000.00 to Incorporate you. 
There are two basic forms that must be completed.  One is the registration form from the state that you are requesting your LLC status and the other is a simple usually one page article of organization.

Step Three

While you wait!!!!   You should open a minimum of 5 net 30 accounts for your business.  We have a list that we provide to all our customers.  You should also open a business account, and establish a business phone number in the name of your business. 

In the process of waiting on your LLC Registration to be completed you should use your net 30 day accounts, ordering and paying before 30 days in order to establish a pay history.

Sometime during this period you should open your Dunn & Bradstreet.  I say sometimes, because from experience it has proven be be much easier to open this account after you've had a pay history, avoiding being lured into paying the $500 for a D & B  account, I once paid.

If you have kept these accounts a minimum of 6 months, paying before time, you should now have a paydex score between 75 and 80.  You should hav already began receiving many credit offers based on your paydex score at Dunn & Bradstreet.  Obtaining an unlimited American Express is your next step.


Action Steps
The best contacts and resources to help you get it done