Open a Business Bank Account

Open a Business bank account, to keep your business finances separate from your personal.

Once you have legally got yourself a business name, then you MUST open a separate business account.. it looks more professional, and it keeps everything separate.

Nothing looks less professional than having a customer have to write a cheque to you personally for their purchase.. You need a business account to be able to take credit cards, and debit cards, and it looks much better for your taxes at the end of the year!

A Business bank account, also gives you a quick snapshot of how you are doing with your business.. take all your expense money out of this account as well as watch all your deposits, you will know quite quickly if you are doing well or not!.. If you want a business credit card for your expenses thru your bank, then this is when you discuss applying for one with your business name on it!.. Looks much more professional..

So, the first step to opening a Business Bank Account, is your bank manager.. make a list of questions you have and take them with you.. make sure you understand all the legal implications, and make sure to keep your personal finances separate from your business finances!

Many wholesalers, will NOT take a personal cheque, it must be a business cheque which proves you are for real to them!

Although it has always been suggested to shop around financial institutions for the best deals on your business bank account, I personally have found, that you tend to get the best service at the same bank that you do your personally banking at.. you are already known, and if you are a good customer personally, you are more likely to get the benefits of being known.