Industry sector: Retail and wholesale

Shoe shop: Bank/finance charges/interest


You may decide to borrow money to finance your business, either by way of overdraft or loan.

You will have to pay interest on any money borrowed and there will also be bank charges due on the operation of your business bank account. Interest and charges are normally debited from your bank account every quarter - your bank will be able to help you estimate the amounts that will be due.

Card charges and PayPal

If you have a merchant account and accept direct payment by credit or debit card, you will have to pay monthly card charges. You'll need a special internet merchant account if you want to accept online payments. Using an online payment service like PayPal is another way of accepting online payments. If you open a PayPal business account, or a similar account with another provider like Nochex, you will have to pay their fees too. PayPal charges seller's fees on a per transaction basis, with an additional fee due for cross-border transactions.