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    5 Replies Latest reply on Jun 7, 2009 7:38 PM by KARLAAMAYA

    when to start

    tcast67 Wayfarer
      im about to turn 18 and i want to open up a urban retail shoes and aparrel store as soonas i turn 18 should i wait a couple years or just go into it
        • Re: when to start
          RanksIntl Adventurer
          Hello!

          I am going to say that really depends. What kind of experience do you have? What do you have to invest as far as time and money? I would like to talk to you some more about this and see if there is anything I can do to help you even if its just offering advice or having someone to bounce ideas off of.

          Renee
          renee.rankine@ranksintl.com
          1 of 1 people found this helpful
          • Re: when to start
            RanksIntl Adventurer
            Hello!

            I am going to say that really depends. What kind of experience do you have? What do you have to invest as far as time and money? I would like to talk to you some more about this and see if there is anything I can do to help you even if its just offering advice or having someone to bounce ideas off of.

            Renee
            renee.rankine@ranksintl.com
            1 of 1 people found this helpful
            • Re: when to start
              Wayfarer
              A common issue that I see is the mix of personal credit and business credit. Most small business owners get eager and use their personal access for the wrong needs. I put together an article to help you understand the two, feel free to comment.

              A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are.When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own.

               


              Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information.

               


              Good luck,

               

              Ilya Bodner

               

              Small Business Owner

               

              Initial Underwriting Group
              • Re: when to start
                LUCKIEST Guide
                When to start, Welcome

                Start when you are read. Have you developed a Business and Marketing Plan//

                Do you know about SCORE?? SCORE is FREE.
                • Re: when to start
                  KARLAAMAYA Adventurer
                  Hi Tcast67,

                  Having a business means alot of work and responsability. The only one who really knows is you! do you think you will be committed to your business? Do you have what it takes to open up your shop? Experience? Money? a place? All this things have to be considered if you want to go in this venture. I personally think that maybe you should go to school and take some accounting and marketing courses, which will help you come up with more of an idea of how to start your business. Good look.

                  Karla

                  youpracticaladmin.com
                  1 of 1 people found this helpful