How Your Personal Credit Score Can Impact Your Business

As a business owner, credit may be a tool that can help your business grow to new heights, but it can also be a difficult concept to master. Making things even more challenging, your business may not be able to stand on its own when it comes to applying for credit. In many cases, your personal credit may hinder or improve your business’s credit approval. Here are some instances when your business credit may be impacted by your personal credit score.

The Dos and Don'ts of Using a Well-Known Business Accelerator

Accelerators are an amazing way for entrepreneurs to learn the ropes of launching (and running) a business while also gaining valuable connections. That is, if the founders select the right one for their needs. Participating in the Techstars Boston accelerator program has had a profound effect on the success of Moritz Plassnig’s company Codeship, a developer-tool business. In the article below, he offers some smart advice on using elite accelerators like Y Combinator and Techstars.

“I made vital connections, expanded my local network, received excellent advice and increased my work ethic due to long hours of training sessions, demonstration preparations and mentorship meetings,” Plassnig says. “By the time my team and I graduated from the program, we had attracted local investors and were on our way to receiving our Series A funding. This probably wouldn’t have happened if it hadn’t been for Techstars, and I’m grateful I had the opportunity. But all accelerator programs are not created equal.”

Here’s how to make sure you get the most out of yours:

5 Questions to Decide If You Need a Business Partner

When you write as much as I do you get barraged with people who want to partner with you. Most are hucksters who see that you have a capability that they lack and see the sales potential for it, although they don’t have any customers per se. Others think I have money that I want to invest in a hair-brained scheme with someone I don’t know. These things happen so often that I am reminded of advice given to me many times over the years: don’t have a business partner.