A little inside info to help your business thrive
What happens after the paint has dried on your new small business? Here, you’ll learn what’s best practice for established small business owners and sole traders.
Top tips to keep your small business tip top
Learn how to overcome the common challenges you’ll face when running a small business.
Business Overdraft vs. Business Loans
Business loans and overdrafts are great ways to support your cashflow or growth of your small business. This article helps you decide what’s right for you.
Read moreSmall Business Budget and Savings
Every business needs a budget no matter its size. Our free business budget template helps you avoid the common pitfalls of running a small business.
Read moreHow To Tackle Negative Cashflow
Negative cashflow is something every business will likely face in its first few years of operation. Find out ways to tackle it in this article.
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FAQs
Common questions from experienced small business owners
Do I need a business savings account?
Having a business savings account brings many benefits:
- A savings record helps you get a business loan, overdraft, or credit card
- It gives you access to money when you need it most
- It offers a higher interest rate than a business transaction account
- There are no monthly account fees with a Business+ Saver so your money stays yours - for a
full list of fees, please refer to the Schedule of Fees
Can I use my personal bank account for business?
It's a good idea to keep your personal and business bank accounts separate to make it easier to manage and track your business income and expenses.
What's the difference between a loan and an overdraft?
A business overdraft is a line of credit with a limit approved by your bank. It lets you to access money as you need it. A business loan is a fixed amount which you receive upfront and is repaid over a set term with regular repayments. Learn more about whether a business loan or business overdraft is right for you.
What is a business overdraft for?
A business overdraft is a line of credit with a limit approved by your bank. It lets you to access money as you need it and can be used to help with reducing cashflow pressures or for unexpected business expenses.
Do business bank accounts have fees?
Some banks do charge fees. But you’ll pay no setup costs or monthly account fees on your Business+ Account or Business+ Saver. Plus, you get unlimited free electronic transactions.
Unlock your potential with Business+
Business+ is business banking built for sole traders and small business owners. Here are some easy-to-follow guides so you can unlock its potential, and your own.
Business+
Better business banking with Business+
Whether you’re striving for global domination, or you’re blissfully content as a sole trader, Business+ makes small business banking for your start-up easy.
Available online and in the Business+ app, it’s 100% digital so you never need to wait in queues or listen to hold music. And because it’s digital, there’s no paperwork. Ever. Just fast, convenient and secure business banking.
Important information
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. Information on Business+ accounts is general information and does not consider your objectives, financial situation or needs. You should consult the Product Disclosure Documents before making a decision to apply for products.
This product is only available for business purposes. Terms, conditions, fees and charges may be applicable.
1 For a full list of fees, please refer to the Schedule of Fees.
>> Rates current as at 01 July 2024 and are subject to change.
Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.
2 Lending criteria, limits, conditions and fees apply. Applications are subject to credit approval.
Great Southern Bank Business+
Business+ BSB: 834 472
Eligibility requirements
- You must be aged 18 or over
- You must be an Australian resident
- You must be sole trader or company owned by real people
- ABN for your organisation
- An email and a mobile number
- One form of ID such as your driver's licence, passport, or Medicare card