Anyone that owns a bank account is able to receive and make payment from anywhere within the country. Most organisations pay the salary of their staff through bank accounts. And also, owning an account helps you to minimize the incidents of your money getting stolen or robbed because you hold the money physically in cash. Having an account helps you to build a credit score too.

I very much believe that it is best to start a business small. It gives you the opportunity to make mistakes and learn from them with the stakes being very low. And it allows the business to grow organically so that the business owner is not overwhelmed. Even when you have funds to start big, it is best to start with small and learn practically.

Any business that doesn’t respect it’s customers won’t go far. It would lose all the customers and close down. Respect for your customers as a business owner requires that the staff don’t talk and act rude to the customers.  It also demands that you listen attentively to the complaints of the customer and don’t shut them out. Respect to customers would make a business grow rapidly.

If a business owner keeps selling their products on credit, they would end up not being able to restock their shops or buy raw materials for production. Business makes sales to recycle cash back into production and take the profits. But when you sell on credits and the bulk of your running capital is in the hands of customers that bought on credit, you can’t restock and the business would close down.

I have never had any issue using Opay both for my personal and business transactions. And since my business is not formal, I don’t have issues with using the Opay account for business transactions. I think using this online banks in a structured business organization doesn’t sit well with external people like suppliers and customers.  They most likely won’t rate the business if the business sends an Opay account to receive payment.