Can I open a business bank account if I am a sole trader?


Are business bank accounts only for limited companies, or can a sole trader open one, too? I am a freelance journalist working in London, and am currently operating as a sole trader.



Any type of business can open a business bank account, including limited companies, partnerships, sole traders and social enterprises. A business bank account is simply a current account that is set up in the name of a business, rather than the name of an individual.

If you open a business account, you will find it much easier keep track of your finances and do your accounting because there will be less chance of confusing your personal transactions with your business transactions.

a year ago

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