In this episode of Six Minute Saturdays, Paul Faronbi discusses the importance of building business credit and separating personal and business finances. He emphasizes the need to avoid using personal credit cards for business expenses and explains the concept of piercing the veil. Paul also shares insights on getting a business credit card from a credit union and highlights the benefits of establishing business credit.

Watch the IncrediPaul Leadership Podcast: https://youtu.be/R4NE1YA5cms

Takeaways

• Avoid using personal credit cards for business expenses to protect personal assets.

• Separate personal and business finances to minimize the risk of liabilities affecting personal assets.

• Consider getting a business credit card from a credit union for easier setup and fewer requirements.

• Establishing business credit can help protect personal credit and provide borrowing power for the business.

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