Thinking of starting a business, need advice on trade v. personal accounts please.

[Jamandtoast]

I am in in the very early stages of starting my own business, basically, I am trying to work out if there is anything that would stand in my way of starting a business, the only thing I am a bit worried about is that I have an awful personal credit history (DH made redundant, debt built up, we couldn't pay, so we are slowly digging our way back out of the doom).

The business to a large extent would depend on trade accounts, it is possible to do without but it would just make things much easier if I had access to them. Would my personal credit history effect a trade account in my business' name? And if not what's the best way to build up a good bussiness credit history? And if it does effect trade account's, is there anything I can do to help?

The plan is that if I can the business up and running, any profit would go to paying a lot more of the debt off than we can afford now, but feel like we may be caught in a catch 22? - Trade accounts would make it easier to make more money to pay off the debts v. needing to pay off the debts to get the trade accounts?

TIA

Little bump :)

And another one :)

If no one knows the answers, does anyone know where I can find out the answers?

One last time...

See if you have a Business Link in your area. It's a government agency that offers training, advice and support to people who want to start their own business. I've found the one in my area very useful. HTH

Are you starting limited Company?

Im not sure on the answers but Im thinking that
If you have a poor personal history then you will not be allowed an overdraft by the banks on a personal account

But then on a business account you have to apply for an overdraft and they credit check you.

You get charged for a business account although i think most banks do a period where this is free.

Most Companies would credit check to open accounts and Im guessing that they would prefer business accounts

sorry not much help - perhaps speak to an IFA or bank manager