As a small business owner, you want to ensure you’re set up to handle customer payments. For many retail, restaurant, eCommerce, or other merchant businesses, that means the ability to accept credit card payments.
Plastic is beginning to rival cash, with 87% of Americans owning a debit card and consumers using a credit card for 28% of transactions. Online sales require
Square is an excellent option for most small business merchant needs. It provides affordable payment processing with flexible plans and no monthly fee.
While the service can cover most general retail, restaurant, or other merchant requirements, it lacks some features and tools. Square might meet your needs initially, but expanding businesses might need to upgrade to a full-service merchant account provider
A point-of-sale (POS) system allows your business to process payments. It can also help centralize sales monitoring and reporting, enhance customer relationships, and manage inventory efficiently. The available POS solutions, hardware, software, add-ons, and features are very diverse.
Choosing the best system for your business requires identifying which tools and features will best facilitate transactions and help you achieve your business
Whether you’re a seasoned small business owner or an aspiring entrepreneur trying to launch a startup, you’ve probably explored all business funding opportunities. Business credit cards are one of the more accessible options for small business owners at all levels.
However, the most advantageous business credit cards typically require good to excellent personal credit. There are also many business credit card
Sometimes, running a business means stepping outside your comfort zone and expanding your knowledge base. For business owners without accounting experience, getting up-to-speed on financial terms is essential.
Knowing how to “talk the talk” will help when dealing with accountants, analyzing financial reports, navigating taxes, and understanding your business’s financial health. A strong understanding of accounting terms and principles helps you
The pandemic-era Employment Retention Credit (ERC) provides a refund of up to $26,000 per employee retained in 2020 and 2021. The ERC was a lesser-known option, as PPP loans received most of the attention during the COVID-19 pandemic.
While the ERC expired in 2021, businesses can retroactively amend their tax filings to claim the credit for up to three years. That
It’s unfortunate that veterans face additional adversity in getting small business financing. Most service members put their lives on hold and on the line in service of their country. Vets who aim to participate in the lifeblood of the American economy – small business – in their civilian life should have access to the funds they need.
While the SBA has
As a small business owner, you might need certain vehicles to facilitate your business operations. For example, a traveling salesperson might require a company car, or maybe you want your own delivery truck fleet.
However, most small businesses don’t have the liquid funds to purchase commercial vehicles directly. Or you may not want to deplete your cash reserves.
In either case, various
A commercial loan could refer to any business loan, or it might specifically refer to larger loans for enterprise-level businesses. In either case, it’s essential to know the types of commercial lending available, such as term loans, lines of credit, and equipment financing.
The specific purposes for which you need the funds largely dictate which loan you should get. A commercial
Most lenders require a personal guarantee for loans that don’t have collateral. But signing one means that the lender can come after your personal assets if the business defaults on the loan.
You might be wondering if there are business loan options that don’t have a personal guarantee requirement so you can protect your valuable assets. While your options are limited,
