January 27, 2021
Q.: I recently started a limited liability company but have not purchased a company with it yet. I also haven’t set up any credit accounts or bank account for it. My goal is to establish good business credit, which may in part assist me in purchasing a business. Would undergoing a business name change for LLC affect any potential business credit? If so, should I just start a new LLC? What are the positives and negatives to a business name change? A.: Any time you form a new company, you are, essentially, starting from scratch in building up the business credit associated with that company. If you don’t have a bank account or any other credit accounts associated with that new company, it will be very hard for you to develop any showing of credit-worthiness. In addition, if your goal is to build up business credit in one entity, forming a new one would seem counterproductive, as you’d only have to start all over again with that new entity. The name of the company…
Continue ReadingDrum roll, please . . . I’m at T minus 16 for the launch of my latest product, The Entrepreneur’s Prenup: How to Choose a Business Partner Who Won’t [bleep] You. It’s a home-study course…
Read MoreLest you think that only novice business owners have problems with business partners, here’s a comforting note from Robert Kiyoskai in his Cash Flow blog. Apparently, he made some choices that he thought were wise…
Read MoreMake sure the name you want is available, then register and protect it. “What’s in a name?” Shakespeare wrote in Romeo and Juliet. “[A] rose by any other name would smell as sweet.” Many entrepreneurs…
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