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  • Foreign Charges

If your business includes foreign transactions using the right credit card is important. Some credit cards have a foreign fee, while others waive this fee. Be sure to use the right cards when doing overseas transactions, and you’ll save yourself a bundle!

  • Line of credit

When starting a new business getting a source of funding to keep the cash flow may be a challenge. Generating profit can take a while until a customer base is built up. Credit cards give you a line of credit with a  period of 2 to 4 weeks to repay. This can be very helpful for a business which needs to buy inventory or pay employees but is  tight on the cash. Use your credit card and pay later!

  • Separate Accounts

Starting your business on the right foot is crucial to ensure continued success and maintaining business accountability and integrity. It is vital to separate the business accounts from personal accounts. Opening separate bank accounts and credit cards for business needs is a necessary first step toward your goal of building a successful business!

 

  • View Checks

One of the first steps for a new business is opening a bank account. An added benefit some banks offer is the abilty to view checks deposited and received. This enables a business to better track all transactions and maintain acourate records, Although there might be a small monthly fee, if this is something that will be beneficial for your business, it is a worthwhile investment.

  • Terms

Having a healthy cash flow is of utmost importance for your business to succeed. You can do better deals if you pay vendors on time as they will trust you and extend more credit. Try asking for good terms, so that you can continue paying on time and not incurring late fees. Many venders will be happy to extend the payment due, and you will have a longer grace period to pay your vendors.

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