{"id":5765,"date":"2023-05-31T17:02:00","date_gmt":"2023-05-31T17:02:00","guid":{"rendered":"https:\/\/constructionexec.com\/article\/sponsored_content\/cash-flow-and-beyond\/"},"modified":"2023-05-31T17:02:00","modified_gmt":"2023-05-31T17:02:00","slug":"cash-flow-and-beyond","status":"publish","type":"sponsored_content","link":"https:\/\/constructionexec.com\/partner-article\/cash-flow-and-beyond\/","title":{"rendered":"Cash Flow and Beyond"},"content":{"rendered":"

Why credit cards should be the first choice for business payments<\/h2>\n

If your company has been around awhile, there\u2019s a good chance you have some manual processes lingering. You might still be writing checks, sending payments out via mail and juggling paper receipts\u2014all steps that take extra time and can lead to extra expenses. Could using a credit card be a better choice? And is making the switch worth the effort? For many businesses, the answer is emphatically, \u201cYes.\u201d<\/p>\n

<\/a>Money Management: A Key to Successful Business<\/h4>\n

Knowing how to best manage incoming and outgoing money is essential for any small business. Many business owners have extensive expertise in their area of business but not necessarily in the area of business finances. That\u2019s why having a trusted banker makes sense. They can take a close look at your business and uncover specific ways to improve how you manage money. One recommendation that benefits nearly every small business is paying with credit cards. Here\u2019s why.<\/p>\n

    \n
  1. Build efficiencies, reduce risks.<\/strong> Using a credit card consistently can speed up processes and help protect your business from fraud,because you don\u2019t have to give out your checking account number with each payment. Credit cards also allow you to hold onto your money longer, improving cash flow.<\/li>\n
  2. Earn rewards.<\/strong> With every purchase you make, you can earn rewards\u2014money you could use to keep up with rising shipping costs, payroll or new equipment you need to grow your company. Yet while most businesses have a credit card on hand for large purchases, many don\u2019t use it for everyday purchases. Then why not earn rewards on those small expenses you pay every month? As you\u2019re thinking about other purchases that you could switch over to credit card payments, consider utilities such as electricity, phone, internet and water. Software and other subscriptions are also easy payments to transition. Check with your vendors. You might be surprised how many are willing to accept credit card payments.<\/li>\n
  3. Build business credit.<\/strong> There\u2019s a good chance you want to grow your business, and that may require getting a loan or line of credit in the future. If you aren\u2019t using a business credit card, you may not have established any business credit, which is something you\u2019ll need in the loan approval process. Look for a credit card that isn\u2019t tied to your personal credit but instead reports only to the business credit bureaus. This protects business owners by separating their personal finances from their business finances.<\/li>\n<\/ol>\n

    While most business owners understand the benefits of using credit cards, they sometimes put off moving away from old processes until their business has reached a point of change, such as when they\u2019re selling the business or passing operations on to the next generation. By making the switch earlier, they could take advantage of the benefits themselves. Yes, updating payments does take some time, but in the long run the efficiencies of leaving manual processes behind make up for it.<\/p>\n

    <\/a>Support at Every Step<\/h4>\n

    Not sure if moving to credit card payments is right for your business? Ready to switch but you\u2019d like help throughout the process? Our team of business banking experts can help. From initial analysis to ongoing consultation, our team offers a concierge service to help you stay on top of money management best practices as your business evolves. To learn more about our services, visit usbank.com\/bankerconnect<\/a> or email me directly at kaylyn.houston@usbank.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

    For many businesses, sticking with the way they\u2019ve always done things\u2014including using checks to pay vendors\u2013can seem like the easiest option. Yet skipping an opportunity to use credit cards can mean missing out on significant rewards, improved cash flow and improved business credit. Learn why it might be time to switch up your processes.<\/p>\n","protected":false},"author":3,"featured_media":0,"template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false},"categories":[32],"tags":[],"ppma_author":[8071],"class_list":["post-5765","sponsored_content","type-sponsored_content","status-publish","hentry","category-business","author-construction-executive","has-type-badge","type-badge-sponsored"],"acf":{"intro_sentence":"For many businesses, sticking with the way they\u2019ve always done things\u2014including using checks to pay vendors\u2013can seem like the easiest option. Yet skipping an opportunity to use credit cards can mean missing out on significant rewards, improved cash flow and improved business credit. Learn why it might be time to switch up your processes.","intro_paragraph":"","sponsor_name":""},"aioseo_notices":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/sponsored_content\/5765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/sponsored_content"}],"about":[{"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/types\/sponsored_content"}],"author":[{"embeddable":true,"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/users\/3"}],"wp:attachment":[{"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/media?parent=5765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/categories?post=5765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/tags?post=5765"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/constructionexec.com\/wp-json\/wp\/v2\/ppma_author?post=5765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}