
4 Ways to Streamline Your Business And Personal Finances- Starting Today
According to Fundera, mixing personal and business finances is an all too common issue being faced by business owners, particularly small business owners. In 2018, around 23 percent of small business owners admitted to mixing personal and business expenses on their commercial credit cards while 51 percent of owners use their own money/credit to fund their business expansion plans while only 29 percent of them actually turn to business profits and retained earnings as a source of funding. Using personal credit to finance your business can sometimes prove to be beneficial.
However, mixing finances can leave business owners (and their businesses) vulnerable to negative consequences on their credit score, business growth prospects and even management of their business operations. With this in...