Bad Credit Agency

How much will my personal credit affect my opening a small business?

I have bad credit right now. If I open a small business, a little internet cafe, and I don't need a loan to start, will that matter?

Public Comments

1. i have no idea..
2. Very much. You may not need a loan to start but have you costed everything carefully.
3. When you open a small business as a sole proprietor, your business credit and your personal credit are pretty much treated as one and the same. For example, when you go to rent a space for your Internet cafe, the landlord will very likely run a personal credit check on you. The same thing will be true for all of your suppliers and other service providers. If you have cash to open the business and pay for all of your equipment and supplies, you will probably be fine, but if you are planning on getting anything on credit you may have a problem. I'm guessing that the biggest challenge might be renting a space. Most major venues (office buildings, strip malls,etc.) will probably want to see a good credit history. You may be able to get around this by putting up a large cash deposit or by subletting space from someone who is less particular.
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