Global information solutions company Experian has launched BusinessCreditFacts.com, a new online resource designed to help
small-business owners gain a greater understanding of the many topics dealing with business credit, such as the importance of business credit and tips for establishing and improving business credit scores.
Small businesses are particularly susceptible to changes in the economy. Managing cash flow is challenging for small-business owners even in good times, but difficult economic conditions can be especially problematic. A strong credit standing is crucial to allowing small-business owners access to additional capital.
“Having complete and up-to-date business credit information is the best way for small-business owners to obtain favorable financial terms. BusinessCreditFacts.com serves as a one-stop online resource for the business community to not only review their reports, but also to ask questions and gain greater knowledge about how to establish and improve business credit,” said Marc Kirshbaum, president, Experian’s Business Information Solutions.
Small businesses are not really small. In fact, single person businesses generated $951 billion annual sales last 2005 or about 78% of all US businesses! However, the survival rate is very low given the lack of knowledge in fields like finance and accounting. Information about business credit will definitely equip entrepreneurs about effective financial management.