Almost every small company needs to borrow at one point or another, and ideally sooner than later. And when you do, your credit score will dictate who does business with you and at what interest rate. So it’s in your interest to keep your score as high as possible. Here are a few common pitfalls to avoid.
Paying your suppliers late
It’s obvious to anyone that repaying debts late (or worse, not at all) is going to destroy both your credibility and your credit score. However, some entrepreneurs fail to realize that not adhering to suppliers’ payment terms can also be detrimental.
