Ready to optimize your business banking and ensure financial success? Join Caitlyn La Rue, a seasoned Relationship Banker at Umpqua Bank with over 6 years of experience, as she shares invaluable insights and practical tips on business banking best practices.
About the Speaker:
Caitlyn La Rue has been helping businesses of all sizes and stages navigate the complexities of banking. In this session, she brings her expertise to the table, revealing common practices and essential tips that every business owner should know.
What You’ll Learn:
1. Leverage Your Bank’s Resources:
Understand what your bank can do for you, from managing cash flow and building savings to setting up POS systems and handling credit. Remember, bankers aren’t accountants or lawyers, but they can offer valuable support. Don’t hesitate to ask questions relevant to your business’s current needs.
2. Organize Your Documents:
Ensure you know your business type, have a TIN, and understand when to use an SSN vs. an EIN. Keep your state filing up to date and ensure all necessary business documents are in order.
3. Separate Business and Personal Finances:
Simplify tax preparation, budgeting, and legal liability. Build your business credit by maintaining clear financial boundaries.
4. Protect Against Fraud:
Use credit cards for online purchases and leverage online banking for security. Familiarize yourself with common fraud techniques and ask your bank about fraud protection options.
5. Have an Emergency Plan:
Be prepared for unexpected disruptions with a credit card, savings account, or line of credit. It’s better to have an emergency plan in place and not need it than to need one and not have it.
