Starting a business is an exciting milestone, and more entrepreneurs are taking that step. In 2024, the U.S. saw an average of 430,000 new business applications per month—an inspiring 50% jump from 2019. But as businesses grow beyond the startup phase, managing cash flow can get more complex—costs can add up quickly and you may need stronger financial planning.
As your business scales, applying the right financial strategies and considering business tools, like the Chase Ink Business Unlimited® Credit Card, can help you stay on top of spending and gain greater control over employee expenses. Whether you’re just starting out or expanding your business, these four tips can help guide you in making the most of your business’ capital and set you up for long-term growth.
1. Find the Right Tools to Help Your Business Grow
The right tools can make a big difference when scaling your business. You might already use a project management software to keep track of tasks, a CRM system to manage customer relationships or marketing automation tools to reach new customers. But one tool you may not have considered is a business credit card.
In a Forbes survey, 51% of business leaders said they use business credit cards for convenience—44% to improve cash flow and 40% to build business credit.
As your business grows, the financial tools you rely on should evolve. Business credit cards can offer the flexibility to handle both planned and unexpected expenses, helping you keep up with growth initiatives—like marketing campaigns or inventory restocks—without disrupting your cash flow. Plus, some cards offer rewards on everyday purchases, helping turn your spending into a strategic advantage for your business.
Finding the Right Business Credit Card for Every Stage of Growth
Businesses transitioning out of the startup phase can benefit from the simplicity of the Ink Business Unlimited card, which offers unlimited 1.5% cash back on all purchases and no annual fee. As spending grows in specific areas, the Ink Business Preferred® Credit Card provides additional rewards for expenses like travel, advertising and shipping. And for businesses with larger budgets, the Ink Business Premier® Credit Card offers premium benefits like higher cashback rates on larger purchases.
Choosing financial tools that align with your business needs can help you stay focused on what matters most—growing your business.
2. Make Business Spending Easier and Earn More Rewards
As your business grows, so do your expenses—from marketing and staffing to day-to-day operations. A business credit card with rewards can help you make the most of that spending by giving you cash back or points you can reinvest into your business.
Cards like the Ink Business Unlimited are designed with this in mind. For example, the average small business spends about $40,000 in its first year, according to a 2024 Shopify survey. With the Ink Business Unlimited card, which offers unlimited 1.5% cash back on all purchases with no categories to track or spending caps, this could mean earning $600 in cashback rewards that you could reinvest.
Cashback cards can be valuable in funding new opportunities and covering business costs. The rewards you earn on everyday expenses can be reinvested strategically—whether it’s launching a targeted marketing campaign, upgrading equipment or hiring new talent. While the amount you earn will depend on the card you choose and your spending patterns, the potential to offset costs and fuel growth makes these cards an option well worth considering.
3. Save Time and Stay in Control of Employee Spending
Tracking and managing employee expenses can be one of the most time-consuming tasks. Without clear systems in place, risks like overspending, inefficiencies and even fraud can disrupt financial stability and waste valuable time. The Association of Certified Fraud Examiners (ACFE) found that expense reimbursement schemes cost companies an average of $251,000 per incident and typically go undetected for 18 months.
Even if fraud isn’t a concern, the right tools can help simplify expense management while improving employee accountability. For instance, expense management software requires employees to log purchases and submit receipts, while a business credit card can help simplify the process by allowing employees to make purchases directly, eliminating the need for reimbursement.
It also lets you track expenses in real time and can give you a clearer view of spending patterns and potential areas for cutting costs.
For example, the Chase Ink Business Unlimited card lets businesses issue employee cards at no extra cost, set customized spending limits and access detailed quarterly spending reports. This also helps empower employees to make necessary purchases while keeping spending transparent and aligned with company policies.
4. Gain Financial Clarity with Account Management Tools
Clear financial insights can be essential for effective decision-making and capital management. But as businesses grow, it’s easy to lose sight of where your money is going and how it’s being used. Unchecked expenses, multiple accounts, fragmented reporting and delays in reconciling financial records can cloud your financial picture, making it harder to plan ahead.
Using account management tools that offer real-time cash flow tracking, automated reconciliation and customizable reporting can help provide more visibility into spending. When integrated with payroll, invoicing and expense management systems, these tools can help reduce manual errors and help you stay on track of payments and other financial obligations.
Some business credit cards, like those in the Chase Ink Business Suite, offer additional benefits that can support account management. For example, the Ink Business Suite provides real-time transaction tracking, integrates with accounting software like QuickBooks and gives you access to quarterly reports with up to 24 months of transaction history—making it easier to manage records and track expenses during tax season.
Take the Next Big Step for Your Business
Scaling your business requires balancing growth opportunities with the right tools. Whether it’s maximizing rewards, managing employee spending or gaining financial clarity, leveraging the right resources can support sustainable growth and position you to capitalize on new opportunities.
For some businesses, this could mean using a credit card like the Ink Business Unlimited for its simplicity and unlimited 1.5% cashback rewards. For others, it might mean adopting more flexible payment processes or integrating better financial reporting tools to support data-driven decisions.
No matter what stage your business is in, a clear financial strategy can help support long-term success and lay the groundwork for the next stage of growth.
