3 Big Misconceptions about Business Credit & Financing | News & Trends

Don’t miss these common misconceptions about business credit and how it can impact your financial growth as a small business owner. Subscribe to GoDaddy on YouTube: http://bit.ly/GoDaddy-Subscribe

0:00 Who is Rohit Arora?
0:21 Difference between personal credit and business credit
0:40 Negative impact on business credit due to AP/AR
1:12 Getting business loans with low credit scores
1:40 Does a large bank account mean a good credit score?
2:00 Will bounced checks hurt your credit?
2:40 Sustainable growth is best business strategy
3:25 Digital automation and client connection for small businesses
3:53 Importance of having access to credit providers and facilities

When it comes to building up a small business credit score, there’s much to learn that will impact business growth. Rohit Arora, CEO & Co-Founder of Biz2Credit and Biz2X, is sharing some of the biggest misconceptions about business credit to help entrepreneurs understand the impact of their credit scores. Whether it’s business financing, vendor relationships or client success, your business credit can make or break those opportunities for sustainable growth. That’s why Rohit encourages business owners to always have access to credit providers and facilities, regardless of the current economic status. He provides tips for entrepreneurs to reach good credit scores that will benefit their business in the long run. Because keeping a healthy business credit score is more than just a number — it’s the security you need to ensure nothing will get in the way of keeping your business moving forward.

References:

20% of small business loans are denied due to business credit.
https://www.sba.gov/blog/10-stats-explain-why-business-credit-important-small-business
60% of small business owners aren’t confident in finance and accounting.
https://www.nationalbusinesscapital.com/36-small-business-statistics-you-need-to-know-2020/
29% of businesses fail due to a lack of capital and cash flow.
https://www.nationalbusinesscapital.com/36-small-business-statistics-you-need-to-know-2020/#1

Learn more about Biz2Credit:
https://www.biz2credit.com
https://www.facebook.com/biz2credit
https://www.twitter.com/biz2credit
https://www.youtube.com/user/Biz2credit

Resources for Small Businesses:
Venture Forward study: https://www.godaddy.com/ventureforward
Up-to-date info on COVID-19: https://www.cdc.gov
COVID-19 resources and grant information: https://www.covid19businesscenter.com

The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.

#BusinessCredit #CreditScore #GoDaddy #SmallBusinessNewsandTrends #Finance #BusinessFinance

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