1. You must set up a business account if you're starting up as a limited company, partnership or any other key business structure. Sole traders can use their own personal accounts (or via a new business account - John Smith trading as XYZ).

2. Don't necessarily choose a business bank account simply because you are a personal banking customer. You may well feel more comfortable with a bank you already know personally, but they may not offer the best deal for your business.

3. Make sure you compare several business banking offerings, and compare the costs and charges associated with each one. A good place to start would be Bytestart's small business banking partner, Abbey, offering free day-to-day banking forever.

4. Naturally, only go for banks that have a strong background - names you will have heard of, or even internet banking brands which are owned and operated by the big players.

5. Bank Charges - a key point to consider is how much it will cost you to have a business bank account. You may have a large number of monthly transactions to process, for example, so ensure you know exactly what charges will be levied on your account before signing up. Many major banks provide "free" banking for set periods to new businesses, so this may also be of interest.

6. Online Business Banking - this is an increasingly important service, and most banks now provide an internet service so you can check the status of your account day or night. At Bytestart, and with our previous businesses, this is an essential service. Rather than ringing the bank to check if a payment has been made to your account, you can do this yourself in a fraction of the time.

7. Interest - for obvious reasons, you shouldn't hold out for great returns on your business savings income during the current economic climate, but you can certainly choose a bank which offers either free banking, or zero transaction costs.

8. Small Business Team - go for a bank which has a specialised small business banking unit. The set-up process should be simpler, and dedicated teams will be used to dealing with all types of small business and their specific needs.

Some businesses will require regular contact with their bankers, so you should go with a team you feel you can build a good personal relationship with.

For more information on the practicalities of opening a limited company bank account, read our article here.