You’re a university student running your dream business on the side. It’s exciting, empowering – but let’s be honest, it’s also a major juggling act. Between lectures, assignments, and that side hustle that keeps your passion burning, managing finances can feel like another exam you just can’t quite ace.

Student business owners face unique challenges. You need a system that keeps your business finances organized, transparent, and separate from your personal spending – all while keeping up with the demands of student life. That’s where Lenco steps in. The Lenco Starter Account is designed specifically for student business owners like you.

Common Problems Faced by Student Business Owners

So, what are the biggest financial hurdles student business owners face?

• Mixing Personal and Business Finances : Many students rely on a single account to manage everything – business income, personal expenses, savings, and even school fees. This one-size-fits-all approach creates a financial mess that can quickly spiral out of control. Open a separate business account to keep things in order.
• Disorganized receipts and spending: Without expense management tools, you won’t know where your money goes, making it hard to make smart decisions to grow your business.
• Expensive banking options: Traditional business accounts often come with high fees and complex features that students simply don’t need. Look for a student-friendly business account with low fees or explore online banking options that can be cheaper.
• Lack of Financial Knowledge: Students may not have the financial literacy needed to manage a business effectively. This can lead to poor budgeting, overspending, and difficulty accessing funding.

These challenges can quickly turn your passion into a headache. But there’s a better way!

Related: Smart Side Hustles for University Students: Earn While You Learn

The Lenco Starter Account: Your Solution to Financial Freedom

The Lenco Starter Account is designed to be your financial growth partner. Here’s what we can do for you:

• Dedicated Business Account: Keep your business finances separate and organized. This gives you a clear picture of your business’s health. The Lenco starter account is for unregistered businesses and is the perfect business account for student entrepreneurs.
• Built-in Expense Management Tools: No more piling receipts! The Lenco Starter Account comes with user-friendly tools to categorize spending, track income, and gain valuable insights into your business’s financial performance.
• Zero Transfer Fees: Sending and receiving money for your business is totally free with Lenco. No sneaky charges eating into your hard-earned profits. Every penny you make goes straight back into your business.
• Monthly Cashback : Lenco actually rewards you for managing your business finances. We offer cashback on every bank transfer, so you get a little somethin’ extra for every transaction. Think of it as a bonus for being a responsible business owner (and student!).

Benefits Of A Lenco Starter Account Beyond Banking

Your Lenco Account Can do more than just manage your money. You can also:

• Pay Bills: Students always have bills to pay, and you can pay for your airtime, data, light and so much more.
• Snap and Store Receipts: Capture receipts electronically using your phone’s camera, eliminating the need for physical clutter.
• Create Separate accounts: Keep your personal finances separate from your business income and expenses for clear record keeping.
• Real-time transaction tracking: Get instant notifications and view all your business transactions in a single place.

Get Started With Lenco

To open a Lenco Starter account, you need to provide:

• National Identity Number(NIN)
• A photo
• Personal details (Address, BVN, DOB etc)

For more information on this, you can check out What do I need to open a bank account with Lenco?

Opening a Lenco Starter Account is quick and easy. Simply head over to https://lenco.co/ or download the app and follow the hassle-free signup process.

With the Lenco Starter Account, you can stay organized, make informed decisions, and free up your time to focus on what matters most – building your dream business and acing those exams.

So, are you ready to take control of your financial future and unlock the full potential of your student business? Visit Lenco today and see how the Starter Account can help your business grow, one business transaction at a time!