Welcome Guest

Home Article Managing A Business Finance  Plastic money can buy you peace!

Plastic money can buy you peace!

Business credit cards help you keep tabs on all your business spends; you can be at peace

Tags: Managing expenses is one of the crucial steps in controlling a business, especially for small business owners. To have a system in place in order to keep a check on expenses is extremely beneficial. A great way of do

BY Entrepreneur  |  Feb 15, 2010 comments ( 0 ) |

Managing expenses is one of the crucial steps in controlling a business, especially for small business owners. To have a system in place in order to keep a check on expenses is extremely beneficial. A great way of doing this is with a credit card.


Credit cards, especially if you use the one designed specifically for your business can give you a great advantage.



The advantages in having a credit card designed for your business:


  • They allow you not only to purchase items and pay for them later, but also allow you to keep track of your expenses. “Business credit card is different from the retail credit card in several aspects. By consolidating all the business expenses on this card one can control the overall expenses incurred,” said an executive from Citibank.


  • Some cards are designed to provide business owners with extra services such as discounts on various items of purchase. Talking about the benefits that a card holder gets on a business card, an executive from the ICICI bank said, “A business cardholder gets discounts on office supplies, stationery, furniture, machines, travel tickets, hotel bookings etc.”


  • It will help you keep a track on how much your employees spend and on what do they spend. You can still use your statements and receipts to determine where your money is going.


  • Another great thing about many business credit cards is that they allow you to give employees, administration, and management their own credit cards under the same account. This will lessen the chaos about money in your own mind. You can focus on your work rather than thinking about where the money is going. At the same time it will also empower your employees to take their own decision but not misuse their power. 

Please add your comment

Not readable? Change text. Enter the characters as seen on the image (case insensitive)
  Notify me of follow up comments via e-mail   Subscribe for daily newsletter

Related Articles

Micro Finance for Micro Entrepreneurs

BY Entrepreneur

Microfinance institutions borrow money from mainstream financers like banks to lend to entrepreneurs without credit histories. These institutions serv...

Keep your Cash Flowing

BY Entrepreneur

Whether it is a multi-billion dollar empire, or the tiny mom-and-pop convenience store on the street corner, cash is the lifeblood of any business....

12 Tips to Bootstrap Your Startup

BY Entrepreneur

Quite often you are lead to believe that you cannot afford to start a business. Eking out a loan from a bank is little less than a necessary evil. ...

Rating Can Enhance Your Credibility

BY Entrepreneur

If you have been turned away by banks for being unworthy of credit, you are not the only one. In the absence of sufficient collateral security, most b...

5 Reasons Why Banks Refuse to Lend

BY Entrepreneur

Banks are the first ones to come to your mind when you need funds to start your business. You approach the bank with lot of expectations but your l...

Get Your Business Insured

BY Entrepreneur

Just a few days ago, Indian Oil Corporation’s depot went into fumes in Jaipur. Everything went up in smoke, but there remained a flicker of hope...

Be Interesting to Investors

BY Entrepreneur

You may be having an excellent idea but are unable to get the right people to fund and support your business venture. Don’t worry! The soluti...

Know your taxes

BY Entrepreneur

Tax is one of those terms, which is persistent in everyone’s life and it’s not just hard but almost impossible to escape it. Whether an em...

Paying Your Taxes

BY Entrepreneur

Be it an entrepreneur or an employee everyone comes under the sphere of taxation. Trying to escape tax obligations is a futile exercise as it can land...

Five reasons to keep your personal and b

BY Entrepreneur

Have you started your business recently and often been advised to keep your personal and business-finances separate?   Most of the small busin...

Reality Check Post the Downturn

BY Entrepreneur

Whether recession has reached its termination point or not, is still unknown but what is known is our changed perspective towards the financial world ...

Financial Jitters to Success

BY Entrepreneur

Entrepreneurship has never been an easy path to tread on as it demands a lot of risk taking abilities, and innumerable responsibilities. Starters make...