What Every Creator Needs to Know About Money | Creative Table with David Smith

Welcome back to Creative Table! In this episode, Andy and Kevin sit down with small business financial guru David Smith. David discusses the nuances of small business financial management and provides tips on getting your business's finances in order. He sheds light on credit evaluation, the importance of proper bookkeeping, incorporating AI in banking, and navigating through loans and digital currency. Perfect for photographers, designers, and any other creatives running their own small businesses!

00:00 Introduction and Guest Introduction
01:40 Defining Small and Micro Businesses
04:50 Setting Up Your Small Business
07:13 Choosing the Right Business Structure
11:00 Navigating Business Loans
16:19 AI and Future Banking Tools
19:54 Understanding Fractional Banking
20:58 Navigating Bitcoin in Business
21:23 Traditional Banks vs. Modern FinTech
22:12 The Evolution of Banking
24:27 Challenges with Traditional Banking
27:44 The Role of AI in Banking
30:21 Impact of COVID on Banking and Loans
34:13 Economic Factors Affecting Small Businesses
38:59 Advice for Small Business Owners
41:16 Conclusion and Final Thoughts