Whether you are just starting out or have been in business for years, it's critical to know how to manage your business finances.
For legal and financial reasons, it’s important to separate your personal and business expenses and open a business bank account.
There are many reasons why it is important to open a business bank account. Opening a separate account can help protect your personal finances from business-related expenses. In order to get paid by the City, you will need a business bank account. Additionally, many loan applications and other certifications require you to have a business bank account.
The Small Business Administration (SBA) website is a great resource for learning more about opening a business bank account. Visit the SBA’s guide to opening a bank account for your business here.