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Cameron Marsden

Managing Director at

Member Since January 2014

Carlton, NSW, 2218

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Cameron Marsden answered this question

How do you deal with loneliness as an entrepreneur?

Honestly Phil, I have the same problem as you - it is often difficult to relate to our employee friends...

Also, as we all are passionate about our businesses, when we get talking to other entrepreneurs we tend to sound like we are selling to each other as we are excited.

Being social tends to take a back seat to passion, which is to be expected when you are driven.

Hmm... just realised I didn't really answer your question, just agreed with you... :)

Cameron Marsden answered this question

What are the features of business accounts for sole traders?

From personal experience Rosella, be careful - while Bankwest do offer a "fee free" account, you will get hit with fees for almost everything else. Not to mention that they take a LONG time to get an account opened - they took just over 6 weeks for me.
I have used it for one of my companies and I really regret doing so.

CBA have a better offering... even though you pay $10 a month for the account, it ends up being cheaper in a lot of cases, particularly if you are transferring money overseas (via paypal for example) plus you get an automatic $500 overdraft... quite handy when you are starting out.

As for Credit cards, direct debit and BPay - these are not managed by your bank account directly, these are from a Merchant facility.

It also depends on whether you intend to have a physical shopfront or an online only one...

Hope that helps...

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Cameron Marsden answered this question

How do you deal with loneliness as an entrepreneur?

Honestly Phil, I have the same problem as you - it is often difficult to relate to our employee friends...

Also, as we all are passionate about our businesses, when we get talking to other entrepreneurs we tend to sound like we are selling to each other as we are excited.

Being social tends to take a back seat to passion, which is to be expected when you are driven.

Hmm... just realised I didn't really answer your question, just agreed with you... :)

Cameron Marsden answered this question

What are the features of business accounts for sole traders?

From personal experience Rosella, be careful - while Bankwest do offer a "fee free" account, you will get hit with fees for almost everything else. Not to mention that they take a LONG time to get an account opened - they took just over 6 weeks for me.
I have used it for one of my companies and I really regret doing so.

CBA have a better offering... even though you pay $10 a month for the account, it ends up being cheaper in a lot of cases, particularly if you are transferring money overseas (via paypal for example) plus you get an automatic $500 overdraft... quite handy when you are starting out.

As for Credit cards, direct debit and BPay - these are not managed by your bank account directly, these are from a Merchant facility.

It also depends on whether you intend to have a physical shopfront or an online only one...

Hope that helps...

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