Financial Strategies for Business Owners in 2019


Successful business owners are able to adapt to new conditions and innovate to enable their companies to remain profitable. According to a survey issued by the National Association for Business Economics, about 10 percent of business economists predict the economy slowing in 2019 and 56 percent expect a recession to begin by the end of 2020. The economic landscape of your industry may be changing, and it is vital that you implement a strategy to ensure sustainability. An important component of your strategy will be your relationship with your business bank.

Here are three business banking moves you can make now that will help you succeed in 2019:


1.  Open a Separate Business Account

If you are a new business owner and just starting out on your own, be sure to stay organized by opening a business checking account and a business savings account. Separating the professional from the personal will be critical for your finances as your business grows. And, if your business is incorporated, the Internal Revenue Service requires that you use a separate business bank account. Penn Community Bank can help you on your business journey with Basic Business Checking and Basic Business Savings accounts. By keeping your personal and business accounts separate but both at Penn Community Bank, you can leverage the convenience and support of a full relationship with our friendly and knowledgeable team members.

If you own a more established business, check out Penn Community Bank’s more sophisticated business bank accounts, Professional Business Checking and Enterprise Business Checking. All of these accounts can be designed to your exact needs; one of our seasoned relationship managers will work with you to evaluate your business structure, the people you serve, your daily finances and will recommend an account to suit your individual needs.


2.  Sustain Cash Flow with Smart Cash Management

Cash management is a key part of a long-term growth strategy for any business. Focusing on cash management secures your business with funds to stay solvent and avoid taking on bad debt. Create a sustainable business with Penn Community Bank’s Enterprise Business Checking, an account for business customers with high checking activity and cash management needs.

With Penn Community Bank’s Cash Management services, business owners have the tools they need to run a business efficiently, including remote deposit, ACH (automated clearing house) services, and zero balance accounts.


3.  Protect Your Investment with Business Insurance

In today’s ever-changing environment, risk is constant. Like anything else that is important in your life, you need to protect your business, and choosing the right insurance coverage will help you secure its longevity. With Penn Community Bank’s Business Boost Package, customers receive a complimentary business insurance review provided by our experienced insurance professionals.

This review enables Penn Community Bank insurance advisors to help you identify gaps in coverage, look for ways to save money, and keep your assets and income protected.


To ensure your economic success in 2019, it is important to consider strategies that provide sustainability and growth opportunities for your business. To learn more about achieving your goals with our business checking and savings accounts, contact a Penn Community Bank relationship manager at 215-788-1234.