Can I run two companies on one business account to minimise bank charges as a small business operator?

  Amelia - UK

Posted: October 18 2012

NDBS Answers:


Amelia, firstly once you have two companies you are no longer a small player, it means you have bigger approach in doing business. So consider yourself a big player. 

The trick here is you are not having one business account for two companies but for one company because for you to open the account the bank will need details of one company.  To minimize cost rather open one account as a business account and for other company as business Savings account which other banks do allow.  There was value in having business account before as you would get cheque book but we are now living in electronic world whereby the difference now could be having an overdraft with business account.  Having separate accounts assists you in tracking every cent you spend and every cent that comes in for each business you have.  On the other hand you can always upgrade the savings to business account when business profit allows.


  I am staying with my partner and we are not married yet, we seem to have same business ideas, Should we go into partnership now or after marriage?

Zanele - Nelspruit, SA

Posted: October 18 2012


NDBS Answers:

That must be well thought before getting into that business together.  Better marry first before committing yourselves further as anything can happen whereby you may not marry.  Even when married you can be partners contractually without being signatory both of you in that business, however once married, depending whether you marry ANC or COP, that business will have legal implications to both parties.   Rather do it alone and your partner will join later as currently might mean you have to open joint account which may lead to complications should the relationship not work as the other party can decide to stall the entire process of the operation by refusing to sign documents relating to the company.   




  I am thinking of taking my business online, just wanted to find out how many pages a good website should have.

Nkamogeng - Gaborone, Botswana

Posted: October 17 2012

 NDBS Answers:


Going online is not about how many pages your website should have but what content you have put in the website.  You can have two pages or 10 pages or more.  The number of pages are determined by the information you put on the website and how interactive the website is going to be.  Also bear in mind that you can spend your money on website but if that site do not get traffic would be same as putting billboard in the road less traveled.  You must then be willing to interact with different social sites where you can promote your website.






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