Starting Your Business: Tips for Success

Starting Your Business: Tips for Success

So, you are thinking about starting a business or have already started one. You might be asking yourself “Now what?”. Here are some helpful tips from our Director of Business Services, Kyle Short.

One of the necessary first steps in starting any type of business is opening a dedicated business bank account. Similar to a personal bank account, there are necessary documents required to open a business account. Check out our handy checklist to ensure you have the appropriate documents for your business type. Having these documents readily available will make the account opening process even simpler.  If you are not sure where to find these documents, we are always happy to direct you to the right place.

Once you are ready to open your business account, you will want to make sure you choose a financial institution you can trust. As you are researching your business banking partner, we encourage you to ask several questions, such as:

  • Does this bank or credit union offer the products and services to help my business run smoothly?
  • Do they charge monthly maintenances fees?
  • Do they require a minimum balance?
  • Do they have remote banking capabilities?

If you prefer supporting local businesses, look for a local banking partner.

If you have a large amount of deposits, be sure to check if the financial institution you choose offers extra insurance in addition to the standard $250,000 that is insured through NCUA or FDIC. For example,  BluCurrent offers Excess Share Insurance** which insures your business deposits up to $1,500,000.

Ultimately, your business banking partner should be someone that can help you every step of the way, so you can focus on what is truly important – running a successful business!

When you’re ready to open your business bank account, be sure to check out our Business Account offerings to see if we are the perfect fit for your business’ banking needs. If you have questions, or are ready to start the account open process, gives us a call at (417)851-1494, email or launch video banking during business hours.

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