My Business Has a Credit Score?

Business Credit Score Gauge pointed at Excellent

*Originally posted August 24, 2018. Updated February 18, 2020.*

What is business credit? 

When’s the last time you checked your business credit score? If you’ve never checked it before, you’re not alone – nearly half of small business owners don’t even know they have one. 

Like personal credit, business credit is used to determine a business’ borrowing and lending abilities. It’ll be checked when you apply for business loans or when other companies want to ensure you are financially reliable before doing business with you. 

Small to mid-size business owners (SMBs) often make the mistake of assuming business credit is the same as personal credit. But, without understanding the key differences between the two, you could be putting your business’ overall security and reputation at risk. 

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Want to Keep Your Small Business Going Strong? Avoid Tax Identity Theft

*Originally posted March 21, 2016. Updated December 30, 2019*

As the calendar turns to another year, businesses and individuals will soon be facing the inevitability of yet another tax season. And, while filing taxes isn’t something entirely avoidable, the risk of business tax identity theft can easily be minimized. According to the IRS Security Summit, businesses small and large are ideal targets for data thieves every tax season due to their abundance of personal information that can be used to file fraudulent returns. With ever-changing tax reform and regulations, it may be hard for your company to keep up processes while ensuring all sensitive documents are secure. Stick to the following tax preparation tips to avoid letting business tax identity theft wreak havoc on your business: Continue reading

Fraud Awareness Week: Prepare Your Business for Holiday Scam Season

Although we don’t like to admit it, succeeding as a small to mid-sized business (SMBs) takes more than a great idea and strong work ethic. Vigilance and the ability to anticipate the unexpected — whether it’s unforeseen costs, dips in the economy, or other more ominous issues — is all part of the job description for every small business owner. Continue reading

Risk of Identity Theft is a Costly Proposition for SMBs

Small Business Owner Looking at Laptop

Much like individuals, businesses can be victims of identity theft. However, unlike personal identity theft, it is often unclear how a Small and Medium-Sized Business (SMB) can recover from the financial and reputational impact. Business identity theft occurs when criminals impersonate a company to target its funds, file fraudulent tax returns, take out loans, or apply for lines of credit — all for financial gain. Continue reading