Building a strong business credit score doesn’t happen overnight, but there are ways to speed it up — especially if you know what lenders and credit agencies are looking for.
Here’s how you can build your business credit score quickly in the UK.
1. Register Your Business Properly
If you haven’t already, set up your company with Companies House. Make sure all your business details are correct and consistent across every platform — your bank, HMRC, suppliers, and directories.
2. Open a Business Bank Account
Keep your business and personal finances separate. A business bank account helps establish your company as a stand-alone financial entity and is essential for building credit.
3. Set Up Trade Credit Accounts
Work with suppliers who offer trade credit (i.e. pay later) and report to credit agencies. Pay them on time – or early – to start creating a positive payment history.
4. Use a Business Credit Card – Responsibly
A business credit card can help build your credit – if used wisely. Keep balances low and pay in full each month if possible.
5. Always Pay On Time
Late payments are one of the quickest ways to hurt your score. Set up reminders or direct debits to avoid missing due dates.
6. Check and Monitor Your Business Credit Report
You can’t fix what you don’t see. Use a service like Menna to check your credit report and get alerts about changes. Look for errors and fix them quickly.
7. Keep Credit Usage Low
If you’ve been approved for credit, try not to use it all at once. Keeping your credit usage low shows that you’re not over-reliant on borrowing.
8. Build Long-Term Relationships
The longer your credit history with a lender or supplier, the better. Avoid frequently switching accounts or credit cards unless it’s absolutely necessary.
With Menna, you can stay on top of your Credit Score
Building your business credit score quickly comes down to consistency. Make payments on time, stay informed, and keep your business finances tidy.
With Menna, you can stay on top of your credit profile and track your progress month by month.
To start building credit, you must register your business with Companies House. Ensure your business details are accurate and consistent across HMRC, your bank, suppliers, and directories.
A business bank account separates your personal and business finances, helping establish your company as a credible financial entity and making it easier to build business credit.
Trade credit allows you to buy now and pay later with suppliers. When suppliers report your on-time payments to credit agencies, it helps create a positive credit history for your business.
Use your business credit card responsibly—keep balances low and pay off the full amount each month. This shows lenders you manage debt well, which can boost your credit score.
Use a business credit reporting service like Menna to check your credit report, receive alerts on changes, and correct any errors quickly to protect and improve your score.
Previous PostHow to See Your Business Credit Score for Free
Next PostHow to Use a Credit Report to Really Understand a Business
