In the UK, there’s no official minimum credit score required to start a business. You can start a business with any score – and even if you don’t have one at all. But your credit score can impact what happens next, especially if you need funding.
Can I Start a Business with Bad Credit?
Yes. Your personal or business credit score isn’t a barrier to setting up a business. You can register your company, open a business account, and start trading no matter your score.
If your business is very new, you might not have a credit score yet. That’s normal. Credit scores build over time as you trade, borrow, and pay bills. Using services like Menna can help you monitor your score and build it from day one.
What Credit Score Do Lenders Like to See?
Each lender is different. But in general:
Excellent scores (e.g. 800+) get the best terms.
Fair scores (e.g. 500–700) may be accepted but at higher rates.
Poor scores (below 500) may struggle to get approved.
The Menna score is out of 1,000. This varies by credit agency, so it’s important to know what yours says.
What About My Personal Credit Score?
For small business owners and sole traders, your personal credit score often plays a big role in business loan applications -especially if your business is new or has a limited credit history.
With Menna, you can also check your personal score for free, understand what affects it and get clear, practical steps to improve it.
Improving Your Credit Score can help you grow
You don’t need a great credit score to start a business — but it does help when you want to grow. The earlier you check and start building your score, the better.
With Menna, you can check your score for free and get simple tips to improve it.
