Sima Accounting

Understanding Business Credit Scores and How They Work

As an entrepreneur launching a startup for the first time, you probably wonder if business credit scores exist. The straightforward answer is yes! But unlike personal credit scores, they work a little differently and also get influenced by various factors run by different credit bureaus.

Here’s the catch: According to the Federal Reserve Banks’ Small Business Credit Survey, nearly 60% of small businesses had fair or poor financial conditions, which might mean they have poor credit scores.

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Accounts Payable Process: The Ultimate Guide to AP

Whether you’re a small business owner or a manager within an international enterprise, monitoring your spending and payments is an essential part of running a successful company. Keeping track of your finances may become complicated when working with multiple partners, businesses and suppliers. It’s also non-stop. As soon as one set of invoices has been dealt with, the next ones seem to pile up.

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