By Devlin Gilliland
 The use of credit cards in small businesses is gaining popularity. An industry study conducted by a research group reports that more than two-thirds of small businesses are making use of credit cards to cover expenses. However, only two-fifths of these credit card using businesses employ business credit cards.
Since these small business owners are already using credit cards to provide financing for their businesses, they should consider converting to business credit cards instead. With prudent usage and wise management, the small business card could be an effective business tool to help small business owners grow their businesses.
Among other things, a business card allows you to separate business transactions from personal charges, thus avoiding potential problems in managing your funds and preparing your tax reports. A business card also conveys the message to third parties who take an interest in your financial transactions, such as the IRS and creditors, that you are managing your business and its financial accounts in a professional manner.
A significant benefit of having a credit card is the year-end statement summary that business issuers provide to their cardholders. |
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