How travel rewards cards can benefit your business

Anyone that runs a business will know that there are various different forms of finance available to help with funding.

This includes finance such as business loans, personal loans, business line of credit, and credit cards. When it comes to the latter, there are various different types of credit card to choose from so you need to ensure you find the one that is best suited to your business needs.

Many business owners tend to travel a lot as part of their work and if this is the case with your business you may find that travel rewards card could be ideally suited to your needs. There are various different options available so you should have no problem finding the best travel credit cards for your business.

Choosing the right card

Making sure that you look at a number of key points can help you to make the right decision when it comes to these travel credit cards. Some of the key areas to look at include:

• The type of rewards offered: You can get different types of rewards with these credit cards, which means that you can find the one that is ideally suited to your needs. This includes rewards such as air miles, travel discounts, and loyalty points toward accommodation and other travel related products or services. Find the one that is best suited to your needs.

• The level of rewards: Different cards can come with different rewards levels so make sure you check this as well. For instance, some pay offer 1 point per dollar spent on the card while others offer two. Some may also offer a number of bonus points or miles when you first open your account and start using the card, which can help to bump up the balance.

• The rate of interest charged: Interest rates on credit cards can vary and whenever you have a rewards based card such as this you should aim to pay the balance in full within the interest free period so that you do not get charged any interest. However, it may be worth checking the rate of interest charged just in case there are occasions where you are unable to repay the balance in full within that period.

• Any additional fees: You may find that some travel cards come with additional fees such as annual fees. This is something else that you should check before you make your decision, as these fees can be quite hefty in some cases.

We’ve all seen reports on msnbc about the importance of choosing the right form of finance for your business. This is because it can make a big difference in terms of repayments and benefits.

By taking the time to look for the best business credit cards, you can enjoy a range of travel rewards that are ideal for your business travel needs. You can then enjoy reducing the cost of your business travel and enjoying the convenience of a business credit card.

No-deal Brexit puts UK ‘at risk of severe downturn’

Economic growth in Britain has stalled and there is a one-in-four chance that the country is entering into a recession, according to the National Institute of Economic and Social Research.

The think tank said that the outlook was “very murky” and warned of the possibility of a “severe downturn” if Britain leaves the EU without a deal after October 31. The institute said that a no-deal Brexit would “throw concrete” in the wheels of the British economy, knocking 5 per cent off gross domestic product in the long term.

“A no-deal exit will mean a significant halt in economic activity and chronic levels of economic uncertainty,” it said. “There is around a one-in-four chance the economy is already in a technical recession.” A recession is defined as two successive quarters of falling GDP.

Niesr is Britain’s oldest independent economic research institute. Its forecasts for the British economy have performed well in recent years. Last year it ranked in the top third among a list of 30 leading forecasters, each of whom made predictions about GDP, inflation, unemployment and interest rates.

The think tank said the short-term impact of a disorderly exit could be mitigated by a cut to interest rates and more quantitative easing, but these would do little to offset the downturn in the long term. Niesr has forecast that interest rates could fall to 0.25 per cent by the end of this year but they would have to rebound to 1.75 per cent by the end of next year.

It also said the Treasury would have to jettison its fiscal rule that government borrowing should be below 2 per cent of GDP by 2020. The budget deficit would rise to 2.7 per cent of GDP in the event of no deal. Jagjit Chadha, Niesr’s director said: “However we look at it, there will not be much economic joy in a no-deal Brexit.”

The warning comes as Theresa May prepares to stand down as prime minister. Either Boris Johnson or Jeremy Hunt will succeed her. Mr Johnson, the favourite to win the Tory party leadership, has vowed to push through Brexit by October 31 “do or die”, raising expectations of a no-deal Brexit.

Even a smooth Brexit transition would unlock growth of just 1.2 per cent in 2019 and 1.1. per cent in 2020, while inflation would rise to 4.1 per cent. This is because investment and productivity growth remains weak and uncertainties about future trading relationships are likely to last beyond October. The British economy grew by 0.3 per cent in May after contracting by 0.4 per cent in April. Economists believe that second-quarter growth will fall to either zero or -0.1 per cent when the official figures are released next month.

Niesr noted that while Brexit-related uncertainty is holding back business investment and productivity, consumer spending continues to be supported by a strong labour market and sustained wage growth. According to the latest IHS Markit household finance index, consumer confidence rose for a second consecutive month, although still in negative territory, up to 44.3 in July from 43.9 in June.

Niesr’s downbeat assessment extended to the global economy. Citing trade tensions between the US and China, the think tank cut its forecasts for global economic growth to 3.3 per cent this year, the slowest annual growth for a decade.