How are you handling finances for your product?
I was curious when it’s worth opening a dedicated bank account/credit cards. Or if you should just keep it all in personal accounts.
Also, any other fintech that’s worth getting?
I was curious when it’s worth opening a dedicated bank account/credit cards. Or if you should just keep it all in personal accounts.
Also, any other fintech that’s worth getting?
I'm an owner of several small businesses, and each business has its own bank account and Quickbooks account (if you're interested, the link will give you 50% off for 6 months). I use Mercury for business banking, which has been super easy to use (for the past several years), and I've had no issues ever.
Separating business things from personal things helps me to understand so much more clearly how I'm doing, what's driving business growth, and what costs should be cut. Ever since doing it, I can't imagine going back to commingling business and personal accounts. If you're able, I'd highly recommend it.
Happy to answer any questions you might have about keeping business and personal finances separate!
I’ll have to check out Mercury, SVB denied me because they only take start ups that already have institutional investors.
Thanks for the quickbooks link, I’ll check it out!
You're most welcome, Jake. Just lemme know if you've got any questions as you get going. Happy to lend a hand.
Completely depends on 1) how much you make and 2) where you live and the local laws.
I personally have a business account with Monzo. I was not required to at this stage, but I felt it best to get it out of the way as it's something that I would have to do at some point.
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