News & Resources

End of year a good time for business credit reports

Dec 28, 2010 Brian Bradley

The end of the year presents an upswing in small business bookkeeping and financial reporting, but it is also the right time for entrepreneurs to examine their business credit reports, the Keene Sentinel reports. A business credit report will immediately let the entrepreneur know if he or she is in a position to receive more lending in the immediate future, in addition to the likelihood that the owner would not have to put personal property up as collateral. A good report generally means entrepreneurs will get a favorable interest rate, which means more money saved. End-of-year payroll taxes and other tax expenditures will offer small business owners a glimpse at where their companies are headed, but a small business credit report is a one-stop solution that will allow entrepreneurs to gauge the overall health of their business. With small business success still on shaky ground - just 25 percent of small business owners believe conditions will improve in 2011 according to a Discover survey - the new year is a strong benchmark for entrepreneurs who uncover the statistical viability of their business.