One of the many advantages of owning your own business is the freedom to manage processes on your own terms. For small business owners, this can mean combining personal and business finances. For small business owners, this can mean combining personal and business finances. The smaller the business, the more blurred the line between business and personal often becomes.
Maybe you used your personal credit score to secure a small business loan, or maybe you haven’t applied for a business-specific credit card and charge business expenses to your personal card. Unfortunately, these practices can cost you.
As a sole proprietor or small business owner, there’s very little distinction between your finances and the finances of your business – unless you make one.
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