10 Ways To Financially Prepare For The Launch Of A Small Business
- By
Jazmine Denise
Source: PeopleImages / Getty
Work on your personal credit
If your personal credit has taken a hit, devise a plan to repair it.
“The reason for this is you’ll want to be prepared for anything,” Davis adds. “More often than not, business owners are surprised by a sudden influx of growth — for example, Beyonce’s Black Parade list during Juneteenth — that they aren’t prepared for, and to keep up with demand, they needed more capital to sustain. If your personal credit is poor, it is unlikely for you to be approved for some credit options, especially if your SSN is required on the application.”
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