Small business credit reporting

Yes, any small business should build a credit file with several business credit agencies. Experian and Equifax are also active in compiling business credit reports. The non-profit Small Business Financial Exchange shares information about businesses' payment histories among members. In addition, numerous specialty agencies collect and prepare reports for specific industries.

It's impossible for the average small business owner to keep up with all of the agencies. So the best advice is to buy on terms when possible to help build your credit, but then pay the bills on time every time. Building business credit before you need it will make it that much easier to qualify when you do need to borrow.