Small businesses are the driving engine of the U.S. economy. Yet every year, many of them fail due to lack of funds. If youre a small business owner, you know the importance of having resources available to you. Business credit cards offer the capital you need with conditions you can afford. Heres how business credit cards can improve your financial situation as a small business owner.
Extend Your Cash Flow
Most business credit cards allow you to extend your cash flow. You can use your card to purchase supplies; then, as you sell the items or receive payments from clients, you can pay off the balance. If you do so within the grace period, your card payment will be interest-free. This allows you to purchase items without dipping into other accounts.
Keep Track of Expenses
As a small business owner, it is essential to record expenses. Business credit cards can help you keep your business purchases separate from your personal ones. Credit card statements will allow you to track expenses, report any rewards, and simplify your tax preparation.
Purchase Large Items
All businesses, especially start-up companies, have initial expenses. They...
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