Why Every Small Business Needs Its Own Credit Card
Friday, 26 April 2024, 23:00
4 Compelling Reasons Why Small Businesses Should Have a Dedicated Credit Card
Running a small business is more expensive than many people realize. The average cost of starting a small business was $35,000 in 2022, and that's for an online-only business. Business owners who rent a physical storefront spend an average of $100,000 in the first year.
Why a Business Credit Card is Essential:
- Keep business expenses separate from personal expenses: A business credit card simplifies tracking business spending and helps with tax deductions.
- Earn rewards on your business spending: Enjoy cash back or travel points for your business expenses.
- Build your business's credit score: Paying the bill on time with a business credit card can help improve your business credit score.
- Boost your spending power: Utilize 0% intro APR on new purchases to finance your business needs without interest charges.
Opening a business credit card is a straightforward process that can bring lasting benefits to your business.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.