Rural Business

  Lessons from My Real Business Experience When you start a business, every decision matters — especially financial ones. One question I’m often asked is: “Why do you use a digital bank instead of a traditional, well-known bank?” The answer is simple: experience has taught me what works and what doesn’t for start-ups. My Experience with Traditional Banks When I opened my first business accounts with traditional branch banks, my business w as  still at an early stage. Income was inconsistent, and profits were either very small or non-existent. Despite this reality, the bank charged a monthly maintenance fee of around R80 or more , regardless of whether the business made money that month. Each month, I found myself depositing money just to: Keep the bank account active Cover bank charges Pay basic business expenses Sometimes even pay myself a small salary just to keep operations going As any start-up owner knows, this is not sustainable. Eventually, the pressure became too much....