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How do you prevent your new business from effecting your personal credit? |
How do you prevent your new business from effecting your personal credit? get you a dun and bradstreet rating its credit for business, http://www.dnb.com/us/ incorporate it By incorporation your business. Your personal assets and liabilities are separated. Incorporate. Consider an "S" Corp. It's a really good deal for the small business owner. You incorporate your new business into an LLC Limited Liability Corporation. Then it is as if your new company is its own entity. It can apply for its own credit so to speak. This way you cannot be held personally liable. structure your business as a corporation, LLP or LLC. the business will also need a bunch of capital to prevent creditors from asking you to guarantee the assets of the business. (personal guarantees) |
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