It’s a fact… Small business owners have to work harder to make their business a success.
Unlike the Fortune500, you don’t have the budget for contracting the best marketing company, or buying the best advertising spots, or hiring a ton of employees. You can’t put that responsibility in someone else’s hands. In many cases, you are the chief cook, bookkeeper, and bottle-washer, all rolled up into one. And, more often than not, you already don’t have enough hours in the day. Budgeting time to learn about, monitor, maintain, and build your business credit usually isn’t one of your top priorities.
Many small business owners fail to realize that building business credit is really not all that hard, it just takes a little time and energy and perseverance to get to the finish line. You may already have everything you need to succeed right at your fingertips.
1. Do you have an active and functioning business? 2. Do you have income and expenses? 3. Do you have a business credit report? 4. Have you paid for anything in the business name in the past?
If you answered “yes” to any of the above questions, you are already on the right path. So here are four steps you can take to help get you to the finish line without jumping through hoops…
COMPLETE YOUR BUSINESS CREDIT PROFILE • Get a free D-U-N-S© number at http://iUpdate.DnB.com • If you already have a D-U-N-S© number, register to use the iUpdate portal • Fill in all available data to insure the most accurate report is being presented • Be sure to include all of the following:
• Company name • Any DBA’s or aliases • Company address • Company phone • Date business started • Total employee count • Annual sales • All principals & titles • Describe line of business
DISPUTE DEROGATORY INFORMATION FROM THE CREDIT REPORT • Log into D&B’s free iUpdate© portal at http://iUpdate.DnB.com • Click on the tab at the bottom to “Investigate Payment History” • Choose only the payments reported as negative (slow) payment history • Payments that are removed may return to the file within 45 days • Must re-dispute slow payments up to 3 time