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2024 Business Banking Trends: Strategies to Enhance Financial Growth

Happy 2024! We hope that you had a wonderful holiday season and are ready to take on this new year with confidence in your business. A new year means new opportunities for you and your business, and doing everything you can to ensure your company’s financial stability and growth will let you seize them. We know that something as important as business banking can be a major source of both financial confidence and worry, so to help start you start your business’s financial year off right, take a look at some of our best banking strategies to enhance your business’s financial growth in 2024—

Create a Plan for 2024

Before you start on your business banking in the new year, take some time to create your 2024 business financial plan. This can include your business goals for the year, a review of how your business performed the previous year and what to continue/stop this year, your budget, and anything else you need to compile in order to have financial success this year. Where do you want your business to be by the end of the year? Making an informed annual plan for your business and sticking to it is a great way to reach your financial goals in 2024.

Go Digital

Banking as a business can be stressful—there are so many transactions and accounts to keep track of, so many bills and documents to save, so much responsibility to make things happen. One of the best ways to manage your business’s banking needs is to go digital. When you switch from in-person, physical banking to digital banking, you almost entirely eliminate the need to store papers, mail checks, deal with missing bills, and all of the other tedious complications that may come with physical banking. Everything you need will be stored and organized in one place, searched for easily, and available for quick transfer when needed. When your banking is seamless, your finances are easier to control. Getting rid of the hassle of paper can greatly help your business enhance your financial abilities and enable growth without worry.

Start Saving

You probably have a personal savings account that you keep for your necessary expenses and emergencies, but does your business? A business savings account functions much like your personal account—it lets you safely set aside funds, earn interest, make transfers, and be prepared for any unexpected event. When your business is protected from any financial devastation caused by an unexpected expense, you are able to focus on growing and expanding. When you have this safety net, you can push forward with your financial growth and not fear falling back.

Consider Commercial Lending

Let’s say that this year you have big ambitions. You want to open new locations of your business, or you want to remodel your facilities, hire a hoard of new employees, or you just want to make sure you reach your long-term financial goals. All of this can take a significant amount of funds, and though you know your business would benefit tremendously from these advances, you might not have the funds to do it now. This is where commercial lending comes in. For the long-term development and financial growth of your business, sometimes the best option is to take out a loan that will allow you to reach your goals in the meantime. With commercial lending, you can customize your loans with your lenders to fit your exact needs and payment abilities. For the long term, this is one of the best things you can do for your business.


Bring your business into 2024 confidently with these financial strategies, and watch your company grow.  No matter what this upcoming year throws at you and your business, we at 1st Advantage Bank are always here to help. We offer comprehensive business banking options for your every need, including business checking and savings accounts, commercial loans, treasury management, and so much more. Want to improve but not sure what your business needs? Feel free to contact us and get advice from one of our skilled financial experts. For more information on our business banking services, check out our business web page here by going to the menu and viewing our options. We are here to be your business’s biggest cheerleaders.  MEMBER FDIC and Equal Housing Lender