If you’re starting your own small business, you’re probably familiar with the advantages a business account offers. You probably know how it can help you track your expenses, protect your personal assets from liability and even help you establish business credit when you’re applying for a business loan or credit card.
What you might not be aware of, though, is the advantage of a business savings account. A business savings account is essentially the same thing as a traditional savings account, only it’s tied to your business instead of your personal finances. This has a lot of benefits for businesses of all sizes.
Of course, the importance of saving in business isn’t limited to getting you through financial emergencies. You’ll also want to have money in your business savings account in order to grow your business. When a business opportunity arises, you might need to act fast in order to take advantage of it, and having a business savings account will make that possible.
If you have a business, you’ll want to take advantage of all the benefits a business savings account offers. You can save up for unforeseen expenses, whether they’re good or bad, put money in it throughout the year to pay your taxes, and even use the money in the savings account for your retirement.
If you’d like to take advantage of a business savings account, become a member of First Alliance Credit Union today and open a business account. In addition to getting a business savings account, you’ll also be able to apply for a business credit card, a business loan and even a commercial line of credit.