Making a success of your business depends on planning and judgement. The bottom line is all about managing your finances wisely, whether that means sourcing the funding you need to start up or keeping on top of your accounts.
Setting up or running a business calls for a separate account. Not only will this make your accounting a lot simpler, but also business accounts are tailored specifically to the needs of business clients. Many have a specialised team to deal with business accounts, and can offer help in the form of start up packs and individual advisers. Business accounts differ from personal accounts in that you will normally be charged for transactions – for making deposits and withdrawing funds, for example:
This article gives you a broad overview of how to open and manage your business account, including:
1. Getting The Right Account For Your Business
How to choose and open your account – what factors to consider and what information you will need.
2. Finding The Finance You Need
Common ways to source funding to set up and run your business, including grants, borrowing, loans and overdrafts.
3. Keeping Your Accounts Healthy
Good practice for managing your account, including info on online banking and finding an accountant.
4. Professional Advice
How to find expert advice on accounting and tax issues. This section includes web addresses for professional bodies. Continue reading →