How Entrepreneurs Can Scale And Save Money Without Startup Capital

If you’re not getting rewarded for every dollar you spend, you’re doing it wrong

Unless you’re running the next big tech startup, chances are venture capital is not pouring in your doors. And like many entrepreneurs and small business owners, you will need to bootstrap your way to success.

So how can a startup or small business finance and scale their business fast? The answer lies in credit cards. But not just any card. Selecting the right type of card for your business can mean a world of difference. And then, of course, you need to use it wisely.

Credit card vs charge card

Credit and charge cards are the number one tool for business owners looking to scale their operation.

The key difference between the two is that credit cards have a set spending limit which is usually pretty low. Charge cards, however, do not have a pre-set limit, which means if you’re looking to scale your business and exponentially increase your cashflow, a charge card is the way to go.

If however, you’re looking to fund your business, a credit card might be a better option since the balance can be carried forward (charge cards are to be paid in full on their due date). 

Earn rewards, always

If you’re not getting rewarded for your expenditure, you’re doing it all wrong.

Despite the volume of programmes available, frequent flyer miles and rewards are still an incredibly underutilised resource for businesses. If you’re a startup or small business owner and you’re not tapping into frequent flyer points, you’re potentially missing out on thousands of dollars worth of ‘free’ travel (and travel will return!) and even cashback on your total balance.

While rewards points can seem insignificant at first, this all changes when you’re running hundreds of thousands of dollars worth of expenses through your card each month.

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