Do you have to have a good credit rating to set up your own buisness?

What do you need to do to set up your own business?

Do you have to have a good credit rating to set up your own buisness?
yes if you plan to get loans or grants to assist you in starting your business.


no if you have the funds available to you to start your business


if you have the funds decide what type of business you want to open, complete a business plan [include a cost projection, ]


and then look up city, county and state requirements to be legal, and irs good luck
Reply:we run our own buisness and it doesn't take a fortune take a look at our web site you could apply for the info its free
Reply:the short answer is no, however if you have a negative rating then you will find v. difficult to borrow money on business to finance it, also obtaining Merchant Services (taking credit card payments may prove difficult)
Reply:only if you need to borrow. You'll need a good business plan.
Reply:If you have loads of cash you will not need credit . They will look at your credit rating and as the owner of the company they will base alot on that . If you have a great credit score you will probably pay . If you have a lousy credit score chances are you will not pay and they will not grant you credit based on your history . My credit rating was 758 and i had no problem getting credit . I just picked the wrong product . I was the largest Black and white manufacturer of TVs in the world . I nebver envisioned color being so big . Then with the gas crisis I bought the largest { actually only } buggy whip manufacturer in the world and that went south too . Guess I am just a loser .
Reply:A good credit rating opens the bank doors brother and helps in business.
Reply:no lots of money because people do not pay you. forget business plans just have good accounts that chase the money all the time
Reply:No, you don't need any credit at all, in theory.





Most business fail because they don't have enough start-up capital. So basically you need enough money to keep above water until the business grows enough to be self sustaining.





Most start-up capital comes from personal savings, home equity (a very bad idea, IMHO) or venture capital.
Reply:No you don't have to have good credit but it does help. All you need to do is get a business license unless you are running a business that calls for human consumption. You can start most businesses on a shoestring budget if they are businesses you are starting from scratch. I would devise a business plan it does not have to be formal unless you are going to the bank for a loan. Thus there would be where you would have to have the good credit. Otherwise go for it. Good luck.
Reply:LOADS O MONEYYYYYYYYYYYYYYYYYYYYYY