The spate of credit card offers and leaflets that most of us receive through the post or in our daily newspapers, which promise us unlimited spending power and in some cases blank cheques, has threw up a major surprise and that is the way that small businesses are using personal credit cards that you or I use for granted in our daily personal use, to finance their business practices.
Many are doing this to the tune of almost 2 Billion a month and this is not getting spent on business expenses that they can claim back from the company coffers. The biggest uses are travel or entertainment. The personal credit cards are being used to fund the workings of the everyday running of the business and in some cases the company car is being charged to the credit card.
This has all come about because of the easy access to credit card lenders funds, which are put under our noses at every turn. You cannot even go to a supermarket or shopping mall without being accosted by some credit card sales representative offering you the chance of spending someone elses cash.
So all in all it is hardly surprising that many people who either have to fund a small business or wish to...
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