Smaller business have been booming in the past couple of years, with more than 600,000 new business starting each year, triggering speculations that the country is slowly recovering from the bad economic climate that was experienced in all over the globe. If you are one of the many entrepreneurs who are considering starting your own business or is already operating your business, then it is recommended that you start using business cards to improve the growth of your company.
When you apply for credit cards, you are not only ensuring that your business have sufficient funds to manage your company, you can also rest your mind knowing that you can enjoy several advantages that can help your business thrive in the long run. Here are just a few of the many benefits you can get when you apply for a credit card for your business:
Easy Finance Management
Getting business cards mean that personal and business expenses are kept separated from one another making it much easier for you to manage your finances. It totally eliminates fund mix-ups or labelling each transaction under your personal check book or on personal billing statements each month.
Build Excellent Credit Score
Obtaining business credit cards and then using it to make purchases and paying on-time can help build great credit score for your business. Eventually, consistently building great credit score enables you to obtain business loans or other sources of financing if it is necessary.
Freebies and Promos
Great rewards programs accompany many credit cards. If you are able to choose the most suitable rewards program for your business, you can obtain great freebies or enjoy various promos and discounts. Note that in order to choose the best rewards program, make sure that you select those that do not come with annual fees and make sure to pay off your balance in full.
Simplified Record Keeping
Having a small business means business owners can deduct certain purchases on taxes. However, this can only be done if the records can prove that it is indeed, the business owners, who made those purchases. Itemized statements from cards is by far the easiest way to simplify record keeping.
Enjoy Extra Benefits
Some card provides various concierge services like reservation assistance, flight verifications and even personal shopping services. A simple call to concierge assistance can help you make arrangements that you otherwise cannot do without credit cards.