Wednesday

Small business and credit cards

Guest Post by Carolyn Knight

It might seem like small businesses have no need for credit cards. They’re supposed to be making money, and they can always go out and get a loan so there’s no reason they would benefit from a credit card, right? That’s definitely not the case. Small businesses can benefit in all kinds of ways when they use credit cards the right way. If you’re on the fence about implementing credit cards in your small business read on to find out some of the advantages that will benefit you:

Best way to track spending

If you’re a business owner you know how hard it can be to consolidate your books at the end of the year. You have to go through all the receipts from your expenses for the year and match them up to make sure you aren’t leaving anything out. If you use a credit card for purchases the tracking will be quite simple. All you have to do is go through your prior statements and you’ll know exactly how much was spent and where. A credit card will make it easy to track your expenses throughout the year.

Rewards

Like consumer credit cards, you can often get some kind of reward for your purchases made on business credit cards. You can get everything from cash back to points to airline miles, depending on the card and your business needs. If you’re going to be spending money it only makes sense that you should get some of that back in the form of rewards. Business credit cards are the perfect way to get a return on the expenditures you’re going to make either way.

Track employee spending

Depending on your business, you might have employees that need to make purchases on a regular basis. If you get a business credit card you can have duplicates made for your employees and track how much they’re using the card. This will help you keep their spending under control, and it will also help you identify areas where your profits are being lost unnecessarily.

Build credit

If you’re just starting out in business it’s unlikely that you’ll have enough business credit to take out a significant loan. It’s hard to build credit if you can’t borrow, but you can achieve the same effect by using a business credit card. The barriers to entry for getting a credit card are much lower than they are with getting a big loan. Once you have your credit built up you will be able to get money in loans much easier.

Businesses can benefit from credit cards just as much as consumers. You should consider getting a credit card for your business if it would help any of the areas above.



Author Bio:
Carolyn is a guest writer on the topics of business and credit cards. She is also an expert on order management software that works with Shopify, 3dcart, and BigCommerce.

3 comments:

As said...

Thanks for this blog!!
your blog is very informative.
Provides debt help to the people facing bankruptcy. Explains the qualifications of the debt consolidation agreement and lists the different repayments that can be included in the debt consolidation agreement.
Debt Help

Patricia Walkowiak said...

I wonderment why other professionals don't respond your website overmuch m happy I plant this.
recommended site to get free credit scores

Steve Paul said...

NOwadays any type of business and small cards are made through Plastic Cards because they are the best source to verify properly

Copyright

The documents distributed here have been presented on this blog in good faith. All Flckr.com photos are presented here via Flckr's "blog this" feature. This feature is enabled by each artist on Flckr. If you find material here that belongs to you and you would like to have it removed or credited please contact me and I will gladly follow your wishes.

Copyright and all rights therein are maintained by the authors or by other copyright holders. It is understood that all persons copying this information will adhere to the terms and constraints invoked by each author's copyright. These works may not be reposted without the explicit permission of the copyright holder.