Navigating Small Business Credit: Tips for Startups and Entrepreneurs
Our weekly #CreditChat started in 2012 to help our community learn about credit and important personal finance topics (e.g. saving money, paying down debt, improving credit scores). Each chat is hosted by @Experian on X (formerly Twitter) and all are welcome to participate. DM us any questions.
It’s National Small Business Week! Don’t miss this week’s #CreditChat featuring credit tips for business owners and entrepreneurs.
Topic: Navigating Small Business Credit: Tips for Startups and Entrepreneurs
When: Wednesday, May 1, 2024 at 3 p.m. ET.
Where: Join the live hashtag discussion
The panel will include: John Kiernan: Managing Editor at WalletHub; Drew Smith: Regional Managing Partner at J. Galt; Jannese Torres: Latina Money and Business Expert and Host of the Yo Quiero Dinero Podcast; Beverly Harzog: Credit Card Expert, Bestselling Author, columnist and host of Your Personal Economy podcast at BeverlyHarzog.com; Rod Griffin: Senior Director, Consumer Education and Advocacy, Experian; Jennifer White: Consumer Education and Advocacy Team, and Christina Roman: Consumer Education and Advocacy Manager at Experian.
Gift Card Giveaway
Enter here for a chance to win a $50 Amazon gift card! We will be announcing a winner at the end of the chat. Entry Period: Raffle open now and closes at the end of this chat at 4 p.m. ET. Complete rules here.
Here are the questions we will discuss:
- What are the key differences between personal credit and business credit, and why is it important for startups and entrepreneurs to understand these distinctions?
- What steps should small business owners take to establish and build their business credit profile from scratch?
- How can you access your business credit reports and what should you look for?
- Why might you not see a lender on your business credit report?
- How can startups and entrepreneurs strike a balance between leveraging their personal credit to benefit their business in the early stages while safeguarding against potential risks to personal finances?
- What are some common mistakes that entrepreneurs make when it comes to managing their business credit, and how can they avoid them?
- What are the main factors that lenders consider when evaluating a small business’s creditworthiness, and how can entrepreneurs improve these factors?
- How can startups and entrepreneurs use business credit strategically to negotiate better terms with suppliers, vendors, or other business partners?
- Are there any tools or resources available to help entrepreneurs track and manage their business credit profiles more effectively?
- What finals tips can you share with entrepreneurs wanting to establish business credit?
Check out our complete list of upcoming personal finance Twitter chats here.