If you’re still wondering if you need a business bank account, the answer lies in understanding the differences between personal and business banking. A business account simply is better suited than a personal account for running a business. Find out more about why you need to ditch your personal account and sign up for a business checking account to run your small business.
Business Banking Blog Posts
For some entrepreneurs, making the decision to move to business banking is the hard step. For others, it’s knowing what to do once you’ve decided! If you’re still mulling the decision, it may help you to understand the differences between personal and business banking and when you can get away with using your personal bank accounts. Learn how to find the right bank account for your small business, and how to open a business checking or savings account.
Switching to a business bank account can help you build a professional reputation and establish credibility, limit your personal liability if your business plans don’t work out the way you want them to, and make it easier to manage your business finances and file your taxes. Let’s dig in further to see what other benefits there are to having a business account, and whether there are any drawbacks.
It’s pretty common for entrepreneurs to use a personal bank account to manage a new business. But as you grow, is it still a good idea to use that personal account? And how do you know when it’s better to open up a business checking account? Read on for a detailed explanation of when it’s okay to use a personal bank account and why you should eventually upgrade to a business checking account.