I really couldn’t have done it without the assistance of my bank’s business banking specialist. There’s a lot more to consider than just office space and a company name.
They recommended a business checking account to help me keep track of spending and a credit card for my business expenses. Every job site needs equipment and supplies on hand and the flexibility to purchase them, when I need them, is essential.
I even took out a business loan to finance some bigger purchases like a work truck and a storage facility. Monthly payments allow me to keep more cash on hand for the day to day expenses.
I know that it takes benefits to attract the right employees, so I started a retirement plan and I’m taking advantage of it, too.
We’re also offering access to a health savings account. HSA funds roll over from year to year and even stay with the employee if they retire or need to relocate.
And then there’s insurance for the business*. Property and casualty in case of physical damage to buildings or equipment, disability in case something happens to me and general liability to protect me in case of lawsuits. Let’s hope that never happens.
Plus, I’m always on the jobsite and BusinessLink Online Banking gives me 24/7 access to my business accounts for fund balances and transfers and much more.
Business is great, and with the advice of my business banking specialist, things are going well behind the scenes, too.