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