| How much will my personal credit affect my opening a small business?

How much will my personal credit affect my opening a small business?

mandybeach2004 asked:


I have bad credit right now. If I open a small business, a little internet cafe, and I don’t need a loan to start, will that matter?

Related posts:

  1. i want to open ineternet cafe around berkshire got 6,000 capital in cash how much i need inm total ? Hunch S asked: how much i need in total for...
  2. want to start new Business? Dav asked: I am running a business ( An Internet...
  3. Help me to open an internet cafe? pradeep c asked: Dear all, I am interested to open...
  4. Where to get a Business Loan in the Philippines? chogie asked: I live in Manila. I’m running an Internet...
  5. Opening cyber cafe business? Arthur R asked: In a year and a half, I’m...

Filed Under Small Business |

Tagged With , ,

Comments

4 Responses to “How much will my personal credit affect my opening a small business?”

  1. Alejandro D on May 30th, 2009 3:57 pm

    i have no idea..

  2. Henk on May 30th, 2009 10:07 pm

    Very much. You may not need a loan to start but have you costed everything carefully.

  3. silvaconsultants on June 1st, 2009 9:25 am

    When you open a small business as a sole proprietor, your business credit and your personal credit are pretty much treated as one and the same.

    For example, when you go to rent a space for your Internet cafe, the landlord will very likely run a personal credit check on you. The same thing will be true for all of your suppliers and other service providers.

    If you have cash to open the business and pay for all of your equipment and supplies, you will probably be fine, but if you are planning on getting anything on credit you may have a problem.

    I’m guessing that the biggest challenge might be renting a space. Most major venues (office buildings, strip malls,etc.) will probably want to see a good credit history. You may be able to get around this by putting up a large cash deposit or by subletting space from someone who is less particular.

  4. lewis p on June 2nd, 2009 2:16 am

    It is generally seen that bad credit acts as an obstacle in the smooth running of a business. Are you also facing the same problem? No need to worry, as bad credit business loan is here to solve all your problemsbusiness dealings is bad credit business loans. You can maintain your perfect credit score as long as you pay off your installments in time. This credit score improvement can enable you to avail any future loan with better terms and conditions.