Secondly, you need to borrow or buy products and services from companies that will report your credit history to major business credit reporting agencies such as Dunn and Bradstreet and Experian. Unlike personal credit ratings or FICO scores; income or better yet income potential, plays a huge roll in business credit scores. The top FICO scores are reserved for large stable businesses. But don’t be discouraged, with a little time, you business FICO will skyrocket!

Next, in order to enter business credit market, you’ll need to do a credit assessment to determine if you comply with lender and credit bureau’s requirements. Then look for businesses that issue credit without need for established business or personal credit checks or guarantees. Once you have transacted business with vendors on credit, you can use those references to build your credit profiles with credit reporting agencies.

In many states, there are non-profit organizations and/or government organizations that will help you with setting up business credit. Often there are loans available for start-up businesses or even government grants. Check your state government web sites for such organizations. Many retired owners and businessmen volunteer to help start-up businesses. By researching your options prior to a business start-up; you will not be struggling later with questions. With any luck building your business credit will be a smooth transaction with a huge net profit for you in end!

If you need something a little more hands on to get yourself back into black, you have many options. You can contact a credit counseling office in your area or online and find out what resources they have available to you. Many offices have free classes on budgeting.

Many people have such a hard time with budgeting because they simply don’t know where their money is going! There are some great new websites such as http://www.MoneyPants.com that help with this issue. These web sites will track all of your spending and then help you set up your goals. There is a low monthly fee to use any website that will help you with this, but they are generally very user friendly, and in case of Money Pants, even fun to use. You will have access to someone who can answer questions and a message board where you can find a lot of other information. One great feature is that they will email you with reminders when you have a bill due.

As you can see, building a budget doesn’t have to be an awful task. By doing it right, you will get to watch, step-by-step how your financial picture changes. Just imagine, by taking this step, you may one day soon be debt free, or even own your own home. The key is to take your time, do process in small bites, and be sure to take advantage of all help out there. You’ll be on your way in no time!