Many people don't even know that their business has a Paydex- because they have never looked! People in the real estate industry, for example, can have many different corporations- and each one would have its own Duns number and Paydex Score.
Dunn & Bradstreet, the main business Credit Reporting Agency, gives this cryptical definition:
"The D&B PAYDEX® Score is D&B's unique dollar-weighted numerical indicator of how a firm paid its bills over the past year, based on trade experiences reported to D&B by various vendors. The D&B PAYDEX Score ranges from 1 to 100, with higher scores indicating better payment performance."
So what does that mean to you?
Here are some tips to raise your Paydex score:
1)Pay Bills before the due date.
Unlike on a personal credit report, where paying by the due date is good, while paying after can get you dinged with a negative mark, on your business credit report the Paydex calculates when you pay to the day- so paying the day you get the bill (way before the due date) will net you a higher Paydex then paying on the due date.
2)Buy products from multiple vendors.
Buying office supplies from both Viking (www.viking.com) and Staples (www.staples.com) , and getting your printed materials from two suppliers, say NEBS (www.nebs.com) and Rapidforms (www.rapidforms.com) will net you more tradelines on your report, which translates into a stronger candidate for larger credit lines and more approvals for new accounts.
(The above is true even though NEBS and Rapidforms are sister companies.)
3)Get your Cellular phones under the business name.
Many Businesspeople, while having their phone as a business expense, have it under their own name for billing. By transferring the Phone to the business Entity, this will create another positive tradeline for an item you already pay for anyway. The same is true for other Bills you may have (Bottled Water delivery, Gasoline Card, etc.)
4)Get more Tradelines
A great Resource for Business Tradelines is located at www.bhmh.net . This free, ad-supported site will contains a list of vendors that offer credit to small businesses.
5) And last but not least-
The "Business Credit Secrets" eBook is available at businesscreditguru.com. This $24.95 Resource contains those golden nuggets and the no-holds-barred "how to" to obtain Business Credit from Dell, Staples, Office Depot, Uline, and Many, Many More. it comes with a 60 Day Money Back Guarantee. Using ClickBank, your privacy is 100% Secure.
Business To Business Financing
Lets face it, having a home business is not all easy. You might think that you are embarking on one of the easiest adventures of your life and that you are going to be able to simply sit back and watch the money make itself. However, you should know very well that this is simply not the case all of the time. When you are starting a home business, you are going to find that there are so many things to do that it appears to be a bit overwhelming at times.
Also, you might find that there is some of the home business aspects that you just are not able to do and this might end up making you frustrated. By far the hardest part of starting up a home business is dealing with the money situation. In order to keep your head and to keep your business afloat, there are some things that you should think about and plan for ahead of time.
Money Plan
First of all, the most important thing that you can do when you are starting up a home business is to make sure that you have the money that it is going to take to start the business. This means that you either are not going to be able to quit the job that you have until you have money saved up or you are going to have to keep working while you start your home business.
Either way, you cannot start a business with nothing in the bank because no matter what business you are starting, there are going to be start up fees that you have to be sure to figure out how to pay. Also, you must always keep in mind that while you are starting the business you are going to have to find a way to feed your family and take care of the other expenses.
The best thing that you can do, therefore, is to make sure that you have started your business before you quit your other job. This might mean working harder than you thought you have to work and taking more time out of your life to work on both of your businesses but it is going to be worth it in the long run. Also, you need to make sure that both you and your spouse, as well as your children, understand that money is going to be tight for awhile.
There are probably lots of ways that your family can cut back on costs, so you should discuss this with your family as well to see what they think they might be able to do and to see what they think they might save while doing it. Be sure that you have your whole family on board and then be sure that you are nice to them, because chances are that you are going to need their support as you start your home business.
Both Ted Aberle & Obinna Heche are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Ted Aberle has sinced written about articles on various topics from Build Online Business. Ted Aberle is the author of Business Credit Secrets; How to obtain credit for your small business -What the Big Business Owners know and do to keep a potential business loss from screwing up their personal credit history. The ebook can be purchased at. Ted Aberle's top article generates over 480 views. to your Favourites.
