
FINANCES
Funding & Budgeting
Having your finances in order is key to running a successful business...
As a small business owner, a budget is absolutely necessary for keeping your business and your home in financial order.

CREDIT AND FINANCING
YOUR PERSONAL CREDIT CAN LIMIT YOUR FUNDING OPTIONS
If you're a sole proprietor or even in a partnership, your personal finances will greatly impact your ability to qualify for non-secured credit cards.
Even if you are able to qualify for a loan, you'll have limited options with higher fees and interest rates. The company that chooses to do business with you may not have the same benefits as other companies and you may have higher penalties with late fees.
If you've been denied loans due to less than perfect or non-existent credit, your only current option may be to look into secured or prepaid business banking/credit cards.
This is not a "sexy" way to run business, but if you need to build your credit, this is an option that will keep you away from over-extending your credit (since you only have access to what you actually deposit into the account).
This is also an option to look into as a credit builder. Talk to the card company to ensure that they report to the major credit bureaus (Equifax, TransUnion ...) and pay your bill on time. This makes you look credit worthy, and it usually allows you to qualify for a higher credit limit in the future.
Note: Just as with any other credit inquiry, applying for a business credit card may affect your personal credit.
If you're a business that has been established for less than two years, or if you don't have a clear showing of profits for at least 12 months, creditors will use your personal finances to make their final decision.

SMALL BUSINESS CREDIT CARDS
CHOOSE THE BEST CARD FOR YOUR BUSINESS NEEDS
HOW TO CHOOSE A SMALL BUSINESS CREDIT CARD
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You'll probably use your small-business credit card quite a bit, so make sure you’re getting one with favorable terms.
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Be aware of your business' spending habits
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If plan on carrying balances from month to month, getting a card with a 0% APR period or low ongoing interest is more important than searching for generous rewards.
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if you plan on paying in full every month, a card with a big sign-up bonus and lucrative rewards could be the best fit
FIGURE OUT THE REWARDS THAT ARE BEST FOR YOUR NEEDS
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If earning big rewards is your goal, start by looking at your costs. For businesses that spend plenty on travel and office supplies, a card that gives bonus rewards in those categories would be an excellent choice. Companies with spending that require less travel would do better choosing a card with a flat rate fee.
LOOK FOR BUSINESS FRIENDLY BENEFITS
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Some cards come with programs that allow you to match photos of receipts to your card purchases in-app. Many also offer free employee cards and itemized end-of-year statements that help at tax time.

BUDGETING BASICS
CREATING BALANCE BETWEEN HOME & BUSINESS
A budget is a spending plan based on income and expenses.
Budgeting can involve making a comprehensive list of expenditures or focusing on a few categories. Creating an overall budget for all of your expenses is essential for keeping your financials running smoothly.
A budget for your business is necessary for planning possible operational costs, and creating a savings plan for future growth. But budgeting for home and business as an entrepreneur or partnership can be a little tricky and will need a high level of organization to be successful.
POINTS TO REMEMBER
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Keep a daily tab of expenses
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Get rid of unnecessary expenses
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When creating a budget, set monies aside for savings (personal & home)
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Find ways to save on expenses when possible
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Buy used when you can
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Invest in your well-being
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Look into adding business insurance
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Get more budgeting tools