Step 3 of 5
Open a bank account. It is critical in business that you separate the income and expenses of each business enterprise from all others and your personal life. Opening a bank account in the business name, or even just a new account in your name, is an easy way to separate this. Yes, it takes a bit of cashflow management sometimes to transfer money into the business account. But if you ever get audited for the business if your accounts stay separate, it often keeps your personal picture out of the audit. When you open your bank account they will inform you if you need any other documents to meet local needs, such as advertising your fictitious name or a local business registration.