If you decide to start your own business, the next thing you must do is add two to five more companies, even if you do not plan for them yet.
There are a variety of reasons for this strategy and if you're committed to building a company and possibly corporate credit, you ought to follow the following steps:
After you've got your first company incorporated and you're working on that to grow your company, you might be faced with some reason or another, you'll need to move your assets around to protect yourself or explore different business possibilities that might come up that don't fit into the current structure of your business. For managing all of these things you can also hire corporate service from www.thinksme.sg.
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Once you have created your first business and established its creditworthiness it is much easier to establish credit for other companies through sharing credit through a process called daisy-chaining. This is a great method to create a credit for multiple companies from the work you've already put into it.
The fact that you can have multiple corporations in place will allow you to set up your own shelves of corporations. These are businesses that are based on their age, which allows businesses to be functioning within a fraction of the time that it normally takes. These corporations on the shelf will bring real worth to the bottom line of your business in a variety of ways.
Statistics show that most companies fail within 1 to five years from the time they were founded If this is the case, then with multiple corporations that are waiting to go, this statistic is no longer relevant to you.