An expert has offered some business banking advice.Taking the time to properly compare savings on the best business accounts available in the UK may be crucial for anyone considering the possibility of setting up their own company in 2011, it has been suggested.

Cathryn Hayes, head of franchising at HSBC, told the Daily Mirror that professional financial help is also often needed for start-up firms when it comes to business banking, as while managing an organisation may be a "long cherished dream", it can also be "a frightening step to take".

Ms Hayes advised that there are a number of costs that need to be analysed prior to establishing a business, such as "premises and professional charges, as well as insurance".

She added that an extensive business plan is also "vital" in order to secure finance from a bank or building society.

This comes after Huw Morgan, head of business banking at HSBC UK, told the same news source that owners of smaller companies need to keep their personal finances separate from those of their business.

Meanwhile, Credit card fraud can be reduced, according to on expert.Credit card holders must work alongside companies and regulators in order to combat fraud across the country.

That is the view of Mark Bowerman, spokesman for the UK Cards Association, who believes that a "joined-up approach" involving collaboration between businesses, consumers and the relevant authorities is the most effective way in which to go about tackling this issue.

Mr Bowerman was speaking following the publication of a report by KPMG earlier this week (January 10th 2011), which stated that the number of financial fraud cases put in front of courts in the UK reached record levels during 2010 - which may encourage people to use other methods of payment, such as a current account or savings account.

Indeed, some 42 per cent of such cases were ironed out by the use of the public purse.

However, the expert insisted that despite these findings, "debit and credit card fraud losses fell in the first half of the year".

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