FOR small and medium enterprises (SMEs), tax season often evokes dread — a labyrinth of deadlines, paperwork, and cash flow pressures. Yet, with the right financial tools, this annual obligation can transform into a catalyst for growth.

NCB’s business credit cards, tailored for Jamaica’s entrepreneurial landscape, offer SMEs a way to navigate tax payments while unlocking liquidity, rewards, and operational efficiency.

Cash Flow Management: Breathing Room Without the Interest Burden

SMEs can leverage NCB’s 55-day interest-free financing window to defer tax payments without sacrificing liquidity. Transactions made immediately after the statement date maximises this grace period, allowing businesses to align payments with revenue cycles. For example, a bakery facing a March tax deadline could time its payment to coincide with post-Christmas sales revenue, avoiding disruptive cash crunches.

Also, credit card payments are often cost-neutral if balances are cleared promptly. The key is treating your credit limit as a bridge to optimise growth. Settling balances by the due date turns revolving liquidity into permanent savings.

Rewards, Incentives, and Convenience for Tax Season

NCB business credit cards bring a host of benefits, including reward programmes that allow you to earn points or unlimited cashback on every transaction. Customers have the flexibility to choose their preferred reward option based on card selection. Points can be redeemed online or in-store at millions of merchants globally, while unlimited cashback is credited directly to the card account.

This tax season, select customers will enjoy additional rewards and incentives when using their NCB business card to pay taxes. Eligible businesses may benefit from credit limit increase, either on a permanent or temporary basis, ensuring they have the flexibility needed to cover taxes while maintaining operational cash flow.

Streamlined Payments and Record-Keeping

Managing business finances is also made easier with NCB business credit cards. They consolidate all your business expenses in one place, allowing for easy reconciliation by providing clear transaction records. This not only offers valuable insights into spending patterns, but also reduces the risk of errors that could lead to penalties.

No Fees while Maximising Rewards

Jamaica offers a fee-free experience when using NCB credit cards for tax payments. However, interest is charged on outstanding balances, so businesses can avoid these costs by paying their outstanding balances on or before the statement due date.

With unlimited cashback credited directly to your account, businesses can offset fees, reduce outstanding balances, and lower operational expenses. Simply put, the more you spend, the more you earn.

Safeguards Against Overutilisation

To help SMEs avoid overutilisation, NCB recommends setting spending limits for each cardholder or daily transaction limits. These limits can be adjusted temporarily or permanently based on budget needs. Additionally, businesses should choose from one of four statement cycle options (5th, 12th, 19th, or 26th) to align payment schedules with their income cycles.

NCB’s Flexi-Pay Biz solution offers further flexibility by allowing select SMEs to break large purchases into manageable instalments at reduced interest rates. Transaction alerts also provide real-time updates on account activity, helping businesses stay on top of spending.

Beyond Taxes: Versatile Business Spending

NCB business credit cards aren’t just for tax payments — they’re suitable for a wide range of business expenses, including client entertainment, purchasing supplies and inventory, utility bills and operational costs, business travel and accommodations.

With a wide range of options, NCB offers cards that suit varying needs. Visa Platinum Business, for example, is ideal for high-spending companies seeking travel perks, while Business Edge caters to SMEs with frequent overseas transactions. On the other hand, Mastercard Business Elite is designed for large corporations with complex financial needs, while Mastercard Executive Travel suits SMEs requiring international purchasing power. These cards help to consolidate expenses, simplify tracking, and maximise rewards for cardholders.

Leveraging Travel Rewards to Offset Costs

For businesses using the Visa Platinum Business or Mastercard Executive Travel cards, tax payments can translate into valuable travel rewards. Cardholders can earn points on every dollar spent, redeemable for flights on any airline without blackout dates. Points can also cover luggage fees, car rentals, hotel bookings, or even online shopping with merchants like Amazon.

By earning travel rewards through tax payments, SMEs can offset operational costs such as supplier visits or client accommodations — reducing financial strain without impacting working capital.

In summary, NCB Business credit cards offer a comprehensive solution to improve cash flow management, maximise rewards, and simplify record-keeping — ensuring a seamless experience for businesses navigating their financial obligations.

Anitha Cross is the product and portfolio manager — card issuing, National Commercial Bank Jamaica Limited.