Can you open multiple corporations in the same address to build business credit?

[bigpoppa1]

I am looking to open multiple corporations, but have only one office space address.

Is it wise to continue to use the same address to open multiple corporations to build business credit?

[CH-7-Mission-Accomplished]

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@bigpoppa1 wrote:

I am looking to open multiple corporations, but have only one office space address.

Is it wise to continue to use the same address to open multiple corporations to build business credit?

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This strategy doesn't make sense.    It would be like saying if I have 10 family members live at my house and all apply for credit, will that help me build credit?    Each corporation has a separate federal tax ID number so is seen as one entity, i.e, one person.

It costs a bundle to maintain one corporation each year with all the reports, licensing fees, accounting fees, etc., etc.   I know.   I have one corporation (though it's just me).

If your goal is to build business credit with a corporation or an LLC, just do one successful business and then figure out where you can get credit.   Some is easy to get, some takes time.   There's also secured credit available.   Good luck!

[Shooting-For-800]

Even if one has multiple businesses, one is usually better off with one LLC and multiple DBA accounts.

[GApeachy]

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@bigpoppa1 wrote:

I am looking to open multiple corporations, but have only one office space address.

Is it wise to continue to use the same address to open multiple corporations to build business credit?

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Which are you considering, Sister or Subsidiary?  

[Anonymous]

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@bigpoppa1 wrote:

I am looking to open multiple corporations, but have only one office space address.

Is it wise to continue to use the same address to open multiple corporations to build business credit?

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That is a great question. Curious, why do you need two business starting out? Are these two companies offering seperate products?

I have mutiple business, but they are very different and they have different addresses completely. I have taken the route to build credit only on one of the companies because the others are cash base businesses and years away from development. So I have time for the other business, it does not really need credit at this time. I just use my personal credit for it to purchase items and then show receipts to write them off. However, my main company has an office space and I would only use it for that one company.

[FishingGuy]

As most have said above I don't see the need to have multiple corps if JUST to build credit.  There can be a need for multiple corps if the businesses are totally different, or to limit potential liability in order protect assets. 

Many who own buildings or numerous real estate properties will have a different corp for each,  so their assets are separated.... or often someone will have a lease created and signed to one corp and then sublease the space to their other corp .... for protection should something transpire with one.... but that's a totally different reason.