Small businesses don’t always have all the cash they need to get started. While starting a business solely on credit probably isn’t a great idea, supplementing some expenses with credit can be. Many banks offer credit cards created just for small business owners. These types of cards often offer cash back, provide credit under your business name and help keep business and personal expenses separate.
can i buy doxycycline over the counter in uk Using a business credit card responsibly can increase the growth rate of your business and give you more financial stability. Of course, you’ll want to make sure you don’t overspend and pay balances on time. If you keep the risk of using a business credit card minimal and maximize the rewards, your business will benefit.
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Establishing a credit history for your business is just as important as establishing one for yourself. A good business credit history can help you get a loan to keep your business running or expand in the future. You’ll also want to register your company with business credit bureaus, like Dun & Bradstreet, to make sure you get credit for your credit. According to D&B’s “Business Credit Guide,” business credit is “a way to convey your business’s credibility to others.” Establishing good credit can help companies get contracts, funding and manage cash flow.
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From airline miles to cash back and more, most credit card holders are used to getting something back for spending money. Banks with business credit cards also offer perks to business owners. These can range from extra lines of credit to accepting payment from customers, cash bonuses and also cash back and miles. Fraud coverage, cards for employees and detailed reports only sweeten the deal.
- source link Separation of Business & Personal Expenses
One of the No. 1 rules for business owners is to separate personal finances from business spending. Setting up a corporation or LLC is a surefire way to keep your business separate and limit your personal liability. In turn, opening a business credit card under your business name will make expenses easy to track and deduct come tax time.
MidSouth Bank offers business credit cards with the ability to change or add additional cardholders, increase an employee’s credit limit, sign on and view all accounts in real time and view spending analysis. ScoreCard® Points redeemable for travel, merchandise and more. Learn more.