Your company's credit rating is separate from your own. If you just started your business, you may not even have a credit rating. Getting business loans and a business line of credit may depend on you establishing a credit rating as soon as possible.

Check Your Company's Credit Report

Similar to your own personal credit score, your credit report can be accessed through a third-party agency such as Experian or Equifax. If you are a Schedule C sole proprietor, however, your credit score is going to be your own; you need to improve your credit score before you go further.

Checking your credit report will give you a chance to review any mistakes and see which accounts have been registered under your company's name. You'll see any late payments your business has made and any outstanding debts you now hold.

Pay Off Your Debts

Your credit utilization is going to be a big part of your credit score. To lower utilization, you can do two things: you can either pay off your debts or you can attempt to increase your lines of credit. Both of these things are going to improve your credit score. If you have a reasonable debt-to-income ratio, increasing your lines of credit may be the best choice, as it'll give you more room to grow.

Establish New Credit Accounts

Getting credit accounts is a little different for a business than a consumer. As a business owner, you're expected to open quite a few credit accounts, with vendors and suppliers. Contact the vendors you have an established relationship with and request a credit account. Make sure they report to a credit agency, as some do not. As long as you can keep these accounts current, they'll build your score over time.

Automate Your Bill Payments

It's easy for businesses to fall behind on vendor payments, not because they cannot pay their bills, but because they just don't pay them on time. By automating your scheduled payments, you can ensure that bills are paid on time and that adverse actions aren't collected on your credit report. 

If you want to get credit lines in the future (or business loans), you're going to have to be continually improving your business credit. Business banking relies upon your business credit report, as it's an indication of your trustworthiness and your reliability as a business owner. For more information, you can connect with an accountant.