-The businessman would be organized.
-He would be able to spend his savings appropriately.
There are lots of disadvantages of having just one savings account especially for business men as it would be a very bad idea to have only an account where you save for both your personal and business use.
This article illustrate the reasons why it is a good idea for businessmen to have more than one bank account.
The businessman would be organized
Apart from the business account, when a business man has another account which is personal, he would be able to differentiate the funds for the business and the one to be spent on personal items.
Also, this way, the different savings accounts would be organized to align with his different goals.
He would earn more interest
When a businessman has more than one account, one of which is for savings, he would know the ones to tap into when he needs cash, and the savings in the bank would earn him a guaranteed interest till he is ready to make use of it.
He would be able to spend his savings appropriately
When the businessman has different accounts for different expenses, it would help him spend his money appropriately.
It is less likely he would become broke
When a businessman has more than one account, when he has used up the money in one, he would have an alternative account to check for more money instead of being stranded.
It would provide an alternative
When a businessman has more than one savings account especially with different banks, it would go a long way in helping customers and clients pay up as if there is a problem with a bank, they would be able to use the other one. There would be no excuse that the bank had issues as they would be able to have an alternative to pay into.
It is the best
Having different accounts is the best for a supremely organized businessman who wants to keep his funds for various needs and desires separate from each other.