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Thursday, 12 June 2008 |
By Thomas Pretty
 When starting a small business one of your primary concerns should be the banking services you employ. Those who are starting out often think that by mixing their personal and small business finances they will have greater efficiency and far less stress. Many part time business operators often use their personal account to carry out their business banking functions but on the whole, this kind of strategy should be avoided.
There are many reasons to have distinct personal and small business banking options for your company. A common misconception is that by combining finances it will be possible for your business to cut out extra banking charges that come as part of having a small business account. In effect however, while you may be avoiding the odd charge, you could be hurting your financial position.
The first reason not to mix your personal and small business banking is down to expenses. Government legislature makes it quite clear that it is only possible to write off expenses if the company has a business account. By keeping you finances in your personal account it will |
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Last Updated ( Thursday, 12 June 2008 )
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Thursday, 12 June 2008 |
By Amit Kheterpal
 Grants as explained in a lay mans language is a free gift of money, goods or services. The grants for small businesses are never to be paid back and they are tax free. This is precisely the reason for grants being so competitive and almost everyone who goes the entrepreneurial route will try to get grant as this gives him that much needed capital to take the business a few notches above the crowd.
Guess how much grant money is given each year to the small businesses. The number is in the hundreds of billions of dollars. The reason for giving these grants is simple, to stimulate the economy, help the communities which are traditionally not so socially uplifted, and help women who want to be independent and also help war veterans who are looking for their new role in the society.
There are various sources of these grants namely, foundations,government and corporate houses. The grant amounts can range from hundreds of dollars to thousands to hundreds of thousands of dollars, based on the type of project being funded and who is funding the project.
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