You’ve reached the pivotal point in your business where you need to differentiate your personal finances from that of your company’s cashflow. In order to do this, you will need to select a company bank account that offers value, certainty and the right services for your business as it grows. In this video I cover various aspects of what you’ll need in terms of a business bank account in South Africa and what’s on offer by the big five banks.

I think that the bank that you choose and entrust with your business funds should be chosen like you would select a business partner. A bank can unlock a number of different things like:
* Access to overdrafts when cashflow is tight,
* Attractive savings rates through investment products,
* Loans when your expanding or making capital investments,
* Rental financing when you need premises or
* Insurance products to protect your business.

In this way, the bank you choose can become an integral part of your business growth.

In this video I will break down:
* Different business structures
* What you’ll need in terms of FICA to open a business account specifically looking at a sole proprietor and private company
* List the specific financial products you can consider for your business,
* and finally I’ll compare the business bank accounts on offer through FNB, Absa, Nedbank, Standard Bank and Capitec.
* We’ll dive into the features, costs and unique selling points of each.

Drop a comment below and tell me what business idea you're thinking about testing!
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Download the Business Banking Guide here:
You’ll get a step-by-step overview of everything covered in this video including:
* Business bank account comparison tables
* Fica requirements
* Business structures
* Funding options
* Cashflow management ideas

Bank Pricing Links:
Absa pricing
Standard Bank pricing
Nedbank pricing
Capitec pricing
FNB pricing

About:
I’m Victoria, a website designer and business consultant with a background in finance. I'm passionate about helping small businesses grow online and navigate the practical challenges of running a business.

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Contact: vic@webstitchdesign.com

Website: www.webstitchdesign.com

If this video helped you, please give it a thumbs up and subscribe for more practical business content. Drop a comment below if there's anything specific you'd like me to cover next!

00:00 Intro
04:35 Legal Structures
06:54 FICA requirements when opening business bank account
08:22 Bank Fee structures
10:04 Bank solutions
12:00 Financial products
15:28 Bank account comparison
16:10 Sole prop account comparison
19:15 Private company account comparison

#Businessbanking #SouthAfrica #businessbankaccount #FNB #Absa #Capitec #Nedbank #Standardbank #Businessgrowth