The Benefits of Separating Personal & Business Accounts | Episode 15

We see this scenario play out every day at the bank. Small business owners walk through our doors with hopes of growing their business. Whether they’ve outgrown their current operation and are in need of a loan to expand into a new location, or need financing to purchase new equipment, most often these small business owners don’t have their financials buttoned up. And for good reason! Maybe they started their business as a side hustle and never thought it would become an actual business. Or perhaps they just never took the time to make things legitimate because they just wanted to get paid a little extra cash under the table. Whatever the reason, the problem with not separating your personal finances from your business finances is that it can get you in big trouble down the road. Today we are talking about the 5 reasons why you should separate your business accounts from your personal accounts. You’ll walk away wondering why it took you so long to do so in the first place! To see Farmers State Banks Business Account options: https://www.myfsb.com/business/business-checking