What to expect in this course:
Let’s talk about business and content creation!
Though streaming is a hobby for many, there’s no reason you should shy away from turning it into a business. Treating your creation spaces as a business opens your world to potential passive income from doing something you already enjoy doing.
Disclaimer: The authors at StreamerSquare and SolarStream are not licensed financial advisors. Any content is intended for general information and education purposes and not specific advice. Should you need such advice, contact licensed financial and tax professionals.
- Prepare you for treating content creation like a business
- Learn to set up and utilize a PayPal business account and business bank account
Business PayPal Accounts
If you plan on making income of any kind from content creation, a personal PayPal account may not cover all your needs. Setting up a Business PayPal account is an easy task with many benefits for content creators, which in turn allows you to focus on your content creation goals rather than stress over your finances. Personal vs Business Accounts A personal PayPal account often covers the needs of most content creators, and at their core, the two account types operate similarly in terms of sending and receiving money between individuals and making purchases online. You can also sign up for both account types without (or before) having set up an LLC, Schedule C Corp, or other type of business, though having a legal entity dedicated to your content creation is recommended if you plan for a long-term career in the space. Please note that while PayPal does allow you to have multiple accounts, only one of them can be a personal account and each account must have its own email address associated with it. With a personal account, you can accept tips from viewers, payments from sponsored content, and payouts from various websites you might use to monetize your content. However, if you want to accept direct payments for goods and services – such as merch you make at or send from your home or professional services you’re licensed to offer – you’ll need to have a business account. Having a business account will allow anyone purchasing goods or services from you to pay with credit or debit card as well, opening up more possibilities for accepting money. Benefits Of A Business PayPal Account With the differences between a personal and business PayPal account being minimal, it can be tempting for content creators to simply use the account they...