Running a business

[Sotherefore]

I will rather have a separate account for the business then to run a joint account, in most cases this is always the likely cause of problems when there is no trust in a business organisation, everything must be controlled by the real owner of the business organisation.

 

[kayode10]

Running a business require full dedication especially when you are starting from scratch. You need to focus more on marketing and apply different tactics in order to ensure consistent sales in the business.

 

[Blessedsam60]

For sure. You have to register for a separate account for your business, otherwise a lot of mistakes will be made. You have to learn how to strategically manage your business without clashing with your personal life.

 

[eLdavis]

Running a business require full dedication especially when you are starting from scratch. You need to focus more on marketing and apply different tactics in order to ensure consistent sales in the business.

That's true, I think it would be better to try out a particular method first and see how it goes, if it does not work as planned, you can try out the next. When you start trying them all out once, you might not be able to see the one that is effective.

 

[Godspower]

That's true, I think it would be better to try out a particular method first and see how it goes, if it does not work as planned, you can try out the next. When you start trying them all out once, you might not be able to see the one that is effective.

You have made a very good point. There's no harm in trying, and as a businessman, you must be ready to always take risks in making decisions about your business.

 

[kayode10]

It is not easy to run a business especially when you are just getting started and you have a lot of big players in your industry. You have to come up with a unique angle in order to make sales regularly. And you also need to increase your marketing efforts to generate consistent sales.

 

[eLdavis]

You have made a very good point. There's no harm in trying, and as a businessman, you must be ready to always take risks in making decisions about your business.

That's right, and at the same time risk management should also be put in play. I have seen cases where various business owners take unnecessary risks simply cause they must have heard risk taking is part of the business.

 

[Skysaint]

Running a business is actually very tiring and you need to make the best decision for your business whenever you're faced with two or more options just like you've stated earlier, that's what makes us good business men.
Well, I think having a sperate account for your company funds and dealings will be most preferable in this case as it will save you from a lot of unnecessary challenges and pressure.

 

[Godspower]

That's right, and at the same time risk management should also be put in play. I have seen cases where various business owners take unnecessary risks simply cause they must have heard risk taking is part of the business.

That's very funny but it is true. Some businessmen delve into many ventures without assessing the potential of the business and the risks involved.

 

[Shigobad20201]

Running a business , most especially running it alone can be tiring if you are running a business that you have to be in your feet attending to customers most of the time, but you definitely have to have a separate purse for your business.

 

[Kaffyfolla]

Starting a business can require a lot of work, time and money. Follow this guide to start your business plan off on the right foot.

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1.

 

[mayumi97]

The business should have its own bank account. In accounting, there is such a thing called the entity concept where the business is considered separate from its owner/s. Thus, only transactions that affect the business should be recorded in its books. Imagine how complicated it will be if an auditor or a tax authority has to trace the business transactions posted in your bank account. Would you allow your personal banking transactions to be scrutinized by other people just because it also contains business transactions?​

 

[Psalmseen]

The fact is there are lot of things associated with running a business. There are lot of things that needs to be well understood. Your business is different from you the owner. The entity is different. You should have a separate account for your business

 

[kayode10]

It can be very difficult trying to run business on your own. You need a team of experts to guide you in making the right business decision. You will have access to different valuable insight in your business with the help of the team.

 

[Grandeur]

Entity concept in accounting talks about why its important to keep a separate account for a business because the business is an entity itself and should be treated as such.

 

[Skysaint]

Running a business is a lot more difficult than starting up a business and it is high time business owners learnt of this fact. What's common these days is that the moment you are able to establish a business, that you've successfully completed the hardest part and you are now entitled to earn spontaneously.

 

[kayode10]

Running a business require that you think outside of the box in order to maintain positive cash flow. You also need to focus on your marketing as this will enable you to generate consistent sales.

 

[Sotherefore]

Running a business require full dedication especially when you are starting from scratch. You need to focus more on marketing and apply different tactics in order to ensure consistent sales in the business.

The most challenging things about new business is how they can be able to overcome their competitors because competition will always be there no matter the location you are establishing a business, except the location is not where there is development.

 

[Kunkun]

Well for me I'd definitely choose running a separate account for my personal and for my business, a joint account might arise some problems so it's better to differentiate the from the beginning

 

[greenie]

A business entity is entirely different from a personal entity. Running a separate account is most recommendable. You don't mix your business account with your personal account. There will be problem if such thing happens.