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Dominique can


Dominique can

Signed up August 23, 2022

Get credit for your company

Establishing and managing business credit can help your company secure finance when it is needed and with better terms. It will help you negotiate supply agreements or protect your company's identity from being stolen.

Registering for an Dun & Bradstreet (or DUNS) number is one of the most important steps. A DUNS number, an identification number with nine digits that uniquely identifies each physical location that your company has It is also distinct. Dun & Bradstreet also offers advice on how to establish credit for your business.

Self-funding can help you fund your company.

Self-funding, also known as bootstrapping or self-funding, lets you use your financial resources to aid your business. Self-funding can come in the form of asking family and friends to borrow capital, or using your savings accounts, or tapping into your 401(k).

Self-funding lets you keep all control over the company but it also carries all the risk. Be careful not to spend more than you can manage, and you should be cautious if you opt to withdraw funds from retirement accounts early. You might face expensive charges or penalties or hinder your ability to retire on time -- so you should consult with your plan's administrator as well as an individual financial advisor before making any decisions.


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