Managing finances is crucial for small businesses and startups, and credit cards can be a helpful tool for ensuring smooth operations. Many business owners use their personal credit card for business purposes. Surveys show that while 73% of business owners possess personal credit cards, only 20% utilize business credit cards.
However, those who do have business cards report significant advantages such as improved credit terms with suppliers and better opportunities for business financing. Unlike personal credit cards, business credit cards are tailored to meet the specific needs of companies.
The benefits and differences highlighted in this article will help you take the next step in applying for a business credit card to separate personal expenses from business transactions and utilize its many other advantages.
Learn more at https://www.score.org/resource/article/business-finance-perks-getting-a-business-credit-card.
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