Hey guys,

Hope you had a great holiday and I wish all of you a prosperous new year.  I have not posted anything in a couple weeks since I have
been busy working with a number of clients.

The Business Credit Landscape of 2011

The business credit landscape of 2011 has been a pretty tame one in comparison to 2010. Most of the changes happened in the beginning of the year and this seems to be a trend. Although there has not been many game changing events this year, there are a few note worthy changes that we should be reminded of.

1. DnB discontinued eUpdate and has now renamed the program iUpdate. For those of you who do not know what this is, please read My article on the changes for detailed information. Although iUpdate was introduced in late 2010, eUpdate was actually finally completely discontinued in January of 2011.

2. A few of Citi backed Business Credit accounts have increased their requirements. In an attempt to reduce the number of defaults occuring with Citi’s business credit accounts, we have seen an increase in requirements on a couple of their accounts. Staples, BP and a few other accounts now require a 3 year old corporation and an annual stated income for $5 million in order to be approved for their revolving business credit account with no PG.

3. A few of the started accounts that we usually rely on have increased their initial order to $100 but there has been a number of new starter accounts that I covered in previous posts that have come on stream.

4. DnB has made is more difficult to get your DUNS number for free as they keep playing their games. Here is the new way to avoid their tricks that I covered at the end of last year.

5. With these increases in requirements of starter accounts, we have come to the conclusion that it is not worth wild to build business credit with a brand new corporation is you do not plan to use a PG.

CreditRich in 2011

In order to accommodate for various changes in the Business Credit landscape, CreditRich has also made a few changes to better service our clients. Some of the major changes are:

1. The Business Credit Bible is now free. Many people keep asking why I will  give away such valuable information and the bottom line is this. Business Credit is not going anywhere and it is not rocket science. I have used this knowledge to make a living and I am sharing this with you in hopes that you will do the same.

2. Shelf Corp Magic is now $47. This reduce in price does in hand with the fact that it is a little harder to acquire business credit now and we are making it attainable to anyone to achieve.

3. In line with the lowering of prices, Creditrich is now offering the lowest prices on Shelf Corporations on the market and they start at $350 for a 3 year old corporation.

4. A valuable lesson was learnt in depending on funding from a leaseback option in the beginning of the year and you can read about it here.

The Business Credit Landscape of 2012

It is hard to say exactly what we can expect for this coming year, but if we take any cue from the last four year, we should see the major
changes in the industry happen in the beginning of this year. Business Credit is something that will never go away, but the requirements will change. In following with 2010 and 2011 we do expect to see credit requirements to loosen a bit and to see a few more accounts come on stream.

CreditRich in 2012

CreditRich as a company will continue to tailor its service to the changes in the market. We did so in 2011 and we will do so again in 2012. I encourage all of you to start building business credit for 2012 even before you need it.