One of the first steps of starting your own business is opening a business checking account... Emphasis on the word "business." When you own a business, it's easy to consider the assets of the business to be your assets. While this is true to some extent, it can lead to issues if you start treating the business's money as your own, using business accounts for personal purchases and vice versa. This is known as commingling funds, and it can expose you and your business to serious financial risks.