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    3 Replies Latest reply on Sep 5, 2008 5:14 PM by F.Catano1

    What Should Be My 1st Steps On Building Credit Ground Up???

    airwavestudio Newbie
      I have a plan on building a recording studio for music and cd duplication
      I already have workers as far as the engineers....i need steps on building my credit from the ground up

       

      airwavestudio
        • Re: What Should Be My 1st Steps On Building Credit Ground Up???
          Lighthouse24 Ranger

          A few suggestions: Capitalize the business adequately at start-up, and then ensure that the business pays for everything itself. Whatever you need -- facility, equipment, supplies, materials -- always make sure that the business buys and pays for it using a business check, credit card, line of credit, etc. (rather than you paying for it with your personal cash, check, or credit card). Set up commercial accounts and credit lines with suppliers, especially those that report to D&B. Also, go over your business plan with your banker and ask him/her this same question -- helping you build the financial strength of your business is part of a good commercial banker's job (all those "fees" are paying that person's salary, so get your money's worth!).

          Welcome to the community and best wishes with your new enterprise!
          • Re: What Should Be My 1st Steps On Building Credit Ground Up???
            LUCKIEST Guide

            • My 1st Steps On Building Credit Ground Up??, Welcome *Keyana Sweat

            Lighthouse always gives good advice. Do you have a Business Name??
            Have you registered and received a Federal I D Number??
            Do you have an Accountant?? A Lawyer??

            Do you know about SCORE?? SCORE is FREE and can help you succeed.

            Good luck, LUCKIEST