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
As a small business owner, you have many equipment financing options. While it’s good to have options, finding the best lender for your specific needs can be daunting.
The information in this guide can act as a starting point for researching the best lender options. You can also apply to a business lending marketplace, which will match you with the lender
Payroll factoring is a viable way for a business owner to avoid paying their employees late. It helps keep your business legally compliant while maintaining high employee satisfaction.
However, you should be prepared for the extra costs. It’s not a permanent solution in most cases and should be used to help overcome temporary working capital issues.
Looking at your gross revenue compared to your after-tax income can be jarring. However, there are actions you can take to help reduce your taxes and keep more of your hard-earned money in your pocket.
This guide provides tips and strategies for effective tax planning and saving money. We should note that the following is for informational purposes only and does
Most small businesses require financing at some point, whether to sustain operations during a downturn or to fuel growth during a boom. It’s such a common practice that the Consumer Financial Protection Bureau (CFPB) estimates the value of the small business lending market at $1.4 trillion.
As a small business owner, you might consider loan interest rates and fees as the
Small businesses often need financing help, but approval rates for a traditional small business loan have remained low since the recession of 2007/2008. Getting approved usually requires excellent credit, several years in business, and high annual revenue.
However, there are various alternative business financing options to help business owners who can’t qualify for a traditional loan. Merchant cash advances (sometimes called
