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Business Bank Accounts

Opening a business bank account is an important part of starting your own company. It will also help you keep personal and business finances separate, which is essential for accounting and tax purposes.

Having a separate business account will make it easier to track and report on the financial status of your company. You’ll have better control over your cash flow and be in a better position to grow your business.

Another advantage of opening a business bank account is that it can provide protection against liability for the business’s debts or lawsuits. Although this varies, there are many cases in which not having a separate account could put your personal assets at risk.

It is a legal requirement for a Limited Company to have a dedicated Business Bank Account.

Business Expense Cards are a fantastic way to manage your own, and your employees Business spending. You can set spending caps, monitor transactions, setup permissions for individual users and spend abroad amongst many other features.

Business expense cards are pre-paid cards that help businesses spend within their means, earn rewards and manage expenses. These cards are not the same as corporate credit cards, which are expensive and can damage your company’s credit rating. You can use a business expense card much the same as a standard debit card, in that you are able to make purchases and withdraw cash. Pre-paid cards do not require credit checks making them much easier to obtain for small businesses.

One of the most important types of business insurance is public liability insurance. This protects you against claims made by third parties for bodily injury or property damage. It’s a must-have for businesses of all sizes and types, whether you’re a plumber or an accountant.

Public liability insurance is typically included in your business insurance policy, but it’s not just one policy—it’s a range of policies that can be tailored to different needs. For example, if you own a catering company and want to protect yourself against potential claims related to food poisoning at one of your events, there are policies available specifically designed for this purpose (and they’re likely cheaper than going without).

Landlords insurance is a form of property insurance that protects landlords against damage to their rental properties and any liability to third parties. It covers both the building and its contents but does not cover any personal possessions of the tenants.
Landlords insurance is sometimes sold as part of a package deal with other types of property or business liability insurance, such as home or commercial insurance. In the UK, landlords operating a buy to let, are required to have Landlords insurance in place before they rent out a property—even if they are not renting it out as an investment vehicle (for example, while they’re living in it).

Professional indemnity insurance is a type of insurance that covers losses incurred as a result of work-related advice and services. Professional indemnity insurance is relevant for people with specific occupations, such as health professionals, graphic designers, engineers, accountants and real estate agents.

Professional indemnity insurance may be required by law or professional associations or by clients. A professional indemnity insurance policy usually covers losses such as compensation payouts to cover medical costs or lost income, court costs and legal fees.

Professional indemnity insurance can provide a useful buffer against the potential financial impacts of professional negligence.