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Reasons to Open a separate bank account for your small business in the UK

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Ashish Gengara
Reasons to Open a separate bank account for your small business in the UK

Every new business owner needs to open a bank account, but choosing the best business bank account can be tricky, especially if you haven’t done it before. Before you open an account, make sure you understand the different types of accounts available and the services that are offered by each type of bank. Here are some reasons why you should consider opening a separate bank account for your small business in the UK.


  • It makes your business more trustworthy


If you’re running a small business in the United Kingdom, one of the best things you can do is open a dedicated business bank account. This sends a strong signal to your customers that you’re serious about what you’re doing, and it also helps to keep your personal and business finances separate. 


  • You Need One For Your Tax Return


When you open a Yzer business current account, we’ll give you a unique sort code and account number. You can use these to set up a direct debit or standing order, so paying your tax bill is quick and easy. 


  •  It will help you keep track of your finances: 


All of the money coming into and going out of your company needs to be tracked – it makes it easier when filing taxes, sending invoices and taking payments. 


  • Separate Business Accounts are More Professional


When you’re starting out, it’s important to look as professional as possible to gain credibility with customers and suppliers. A big part of looking professional is having a dedicated business bank account. This sends the message that you’re serious about your venture and are ready to take on clients. It also shows that you’re organized and have your finances in order.


  •  Experts Recommend That You Use One


Applying for a Yzer business current account is a great way to keep your business finances separate from your personal ones. This can help you stay organized and make it easier to track expenses and income. Plus, it can help you build credit for your business, which can be helpful down the road.


  • It’ll help protect your business credit score


When you’re just starting out, it can be tempting to keep your business and personal finances together. But as your business grows, it becomes more important to keep them separate. Opening a dedicated business bank account is one of the best ways to do this.


There are several reasons why having a dedicated business bank account is important:


1. It helps protect your personal credit score.


2. It makes it easier to track expenses and manage cash flow.


Final Thought 


Applying for a Yzer business current account is quick and easy, and you can do it all online. Plus, having a dedicated business account can help you keep track of your expenses and better manage your cash flow. And if you ever need to apply for a loan or line of credit, having a strong financial history will give you a better chance of being approved. So what are you waiting for? Start building your small business today with a Yzer business current account.

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Ashish Gengara
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