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Small Business > Starting a Business > Operating

Operating Your Business

Successful business owners know that having an accurate snapshot of how your company is doing financially is key to being able to manage effectively. Knowing when you have payments coming in, when you need to make payments, and minimizing costs and expenses will help you keep your business on stable footing.


Managing Cash Flow

Cash flow is vital to your company’s ability to operate. In order to have enough cash on hand to cover your expenses, you need to forecast when the cash will be coming in from your customers and any other accounts receivable.

Having a cash flow forecast will help you determine how quickly you can turn sales into cash, and decrease the amount you will need to finance or borrow. Use our Cash Flow Tool to help you develop your forecast.


Separating Business and Personal Expenses

When your business is in its infancy, the easiest option may be to operate your business from your personal banking account, or to use your personal credit card to charge purchases related to your business. Doing this makes it very challenging for you and your accountant to identify which transactions are related to your business, especially during tax time when you want to be able to claim and deduct all eligible expenses from your income to reduce your tax bill.

Business Banking Accounts

A business banking account is very easy to open and to use. You can access it via branch, ATM, online, telephone or mobile banking. Various options are available to suit your account activity needs. Find out which account is best for your business with our *Business Solution Selector* tool. Plus, you can deduct your business banking account fees as an eligible business expense! Visit our “How to Open A Business Account” page to learn what information is required to open an account.

Business Credit Cards

Starting and running your own business is stressful. Whether it's planning, day-to-day operations, or budgeting and expenses, you have to stay on top of it all, all of the time. Having a great business credit card can make this a little bit easier.

With a business credit card, you can separate your business expenses from your personal expenses, improve your cash flow, and build credit history in the name of your business -- something you'll need when it's time for your business to grow!

Visit our Business Credit Cards page to learn about our different credit card options.


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