Hope Business Solutions Group Newsletter: July 2022
How Important Is Your Credit Score?
Do you or someone you know want to launch a business? Are you worried about where (and how) to start? You're in luck! Today we are going to talk about how to launch a successful business and some of our great program options that can help you take that leap. If you are looking to start your own business, or maybe just need some help getting your new business off the ground, now is the perfect time - and we are here to help. So, once you decide to launch your business, what is the next step?
Launching a Business, the RIGHT WAY:
Do you already have a business license with your state officials? How about an Employer Identification Number (EIN)? Do you have an established business address and bank account? These are a few of the factors that play into your business's credibility. You want to make sure you are setting the stage for your business to appear professional, established, and most importantly - fundable. Here are some things to consider:
- Choose your business name: Yes, this is essentially the VERY first step! Having a good business name is one of the most important business decisions you can make. Most entrepreneurs already have a name in mind when they decide to launch - but make sure the name is coherent, straightforward, and a satisfactory representation of your business.
- Choose your business entity: You should choose your entity structure based on what is appropriate for your industry, the size of your business, and how you intend to file taxes for the business. Make sure to thoroughly research which structure works best for you, or seek an advisor to help you.
- Set-up your Employer Identification Number (EIN): This is the number that will identify your business to the Internal Revenue Service (IRS), and will also be used for just about EVERY crucial business document and/or account once established. This number will be tied to your business credit, your business bank account, credit/vendor accounts, and more.
What happens after these three things? Well, that's when things get a little more complicated. You will need to establish your business credibility and fundability, and get access to much-needed capital to ensure your business's success. At HOPE BSG, we can help guide you through the steps listed above and beyond - ensuring your business is credible and lender-ready.
Launching A Business.... Real Estate and E-Commerce Are Still Booming!
One of the biggest industries right now is Real Estate and Real Estate Investing (REI). Whether your are already in the industry or looking to break into one of the hottest markets, you need access to capital regularly (and a lot of it!). These funds can be used for earnest money deposits, gap funding, rehab funds, deposits for contractors, and more. The truth is that having access to funds at reasonable rates allows you to outbid your competitors, do deals for less out of pocket, and allows you to expand the business to what you know it can be.
How can business credit and additional capital be used in real estate?
- Fix & Flip Gap Funding
- BRRRR Funding
- Renovation Funds
- Emergency Funds
- Holding Costs
- Marketing
Or maybe you are thinking about becoming an online vendor and starting an e-commerce business? Many different business have boomed in recent years and are set to continue to grow exponentially. Americans are shopping online more than ever, and the data suggests that those online habits aren’t about to change.
How can business credit be used in e-commerce and other businesses?
- Marketing
- Payroll
- Inventory Purchasing
- Franchise Fees
- Equipment
- Production Expansion
- Reserves
Contact us today to learn more about how we can help you achieve your business dreams!
Thinking About Starting A Business? Want to Know More About Business Credit?
We provide a comprehensive assessment and consultation to discuss your best path toward financial success for your business. Complete our Business Assessment today and get a jump start for your business! CLICK HERE to complete the assessment.
And we have a NEW E-Book to help guide you through the process of establishing business credit and obtaining funding for your business, "The Business Credit and Financing Guide" by HOPE BSG now available in our online store!
Whether you are a self-paced learner and want to take each step of the process at your own rate, or you just want to learn more about the world of business financing and how to take your business to the next level - this book is for you.
Also...
Want to Know How to Take Your Personal Credit to the Next Level?
We hope this information was useful to you, but if you want to take the next step in improving your credit score and your financial health, we have some additional resources for you....
If you would like a more in-depth guide to improving your credit, we have an amazing new e-book, "The DIY Credit Restoration Guide", including, "The Shocking Truth of What LexisNexis Has on YOU!" This is a great companion to our DIY Credit Program, or you can use it on your own to take your credit to the next level. VISIT OUR ONLINE STORE for more information.
One more thing...
We deeply appreciate all of our clients and affiliates, it is our sincere pleasure to serve you and be able to interact with all of our prior class attendees, contacts, and clients. Please consider leaving us a review on Google if you have enjoyed our services or one of our classes.
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