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Small Business Insight

New Year, New Efficiency -- Reviewing Your Credit Card Processing Services In 2017

Jan 11, 2017 | News



Running a small business can seemingly require you to become an overnight expert in a number of diverse areas, from tax accounting to flat rate merchant services to online merchandising agreements. As a result, you may find your business is inadvertently slow to adapt to changes in the marketplace when it comes to its credit card processing services, potentially costing you money. Read on to learn more about the importance of frequently investigating credit card processing reviews, as well as what you'll want to consider when evaluating the value your current processing service adds to your business.

Taxes for Small Business

Jan 04, 2017 | News

No business owners wants to pay more small business taxes than are necessary. On the flip side of the coin, you do not want to find yourself in a position where you are facing fines, fees, and penalties for paying an inadequate amount either. The better you understand your obligations when it comes to taxes – and the tax breaks that are available to you, the better you will be prepared to pay your taxes on time and avoid many potential penalties. These are some of the tax breaks you want to know about.

Using social media to your business' advantage

Dec 27, 2016

'Tis the Season for Identity Theft – How to protect your customers, employees AND your business.

Dec 14, 2016

Christmas is coming! While many businesses are busy decking halls and fa-la-la-ing all the way to the bank, this is the time of year when you should turn your thoughts to the very real risk of identity theft, how it effects your customers, and steps you can take to reduce their risks.  

Businesses today have access to more information than ever before about their customers. From EBT processing to credit card processing, mailing lists, and banking information in between – it’s a smorgasbord, for identity thieves keen to take advantage of every snippet of information they can pluck from the far reaches of the World Wide Web.

It can be a financial and public relations nightmare for you, though. Not only do you have a personal stake in protecting the personal information of your customers, but you have a legal obligation to do so as well. No business owners wants their customers to experience the headaches, hassles, and potential financial hardships that go along with identity theft.

As the holidays approach and would-be identity thieves kick their efforts into overdrive, there are small and large steps you can take to reduce the risks to your customers and protect your business at the same time. These are a few of the steps you can take and the potential benefits they have to offer.

Personally Identifiable Information, or PII, is information that helps to identify your customers. It can include a variety of details that by themselves mean little. When you combine them, though, with other bits and pieces of information about the person, it makes the act of identity theft easier for thieves to carry out.  Highly prized information among hackers and thieves include:

Understanding Interchange

Dec 07, 2016
Interchange is an infinitely complex subject, one that is confusing to many small retailers. The short explanation is that interchange is a fee that major credit card associations establish as payment for their services. Every time a merchant accepts a credit card in exchange for goods or services, this transactional fee is assessed.


The fee is assessed to help cover various handling costs and risks associated when the credit card companies approve the transaction. It isn’t the fees that are confusing so much as how those fees are assessed. The primary options available to businesses today are tiered pricing and Interchange Plus pricing.

"Show Me The Money": How Batching Processes Can Make Or Break Your Business's Cash Flow

Nov 30, 2016 | Funding

 

Small Business Saturday – Is Your Business Ready?

Nov 23, 2016


In 2010, American Express set out to create an annual shopping day designed to promote small, independently owned, businesses. Small Business Saturday takes place the Saturday following Black Friday and encourages communities to explore the products and goods small local businesses, like yours, have to offer.

Did you know, though, that there are things you can do now that will increase your sales on this important shopping day? These are a few small moves you can make that will have a big impact on your Small Business Saturday Sales.


 
Consider a Working Capital Line of Credit to Boost Inventory

How to Avoid Chargebacks

Nov 16, 2016

As a small business owner, nothing is more annoying than getting a phone call or letter from your credit card processor finding out that you have been hit by a chargeback. The cost can be a big hit to your bottom line because not only do you lose the money that was included in the transaction; you may face fees from your processor or bank too. While it may be impossible to avoid all credit card chargebacks, we’ve put together a short guide that may help you avoid some of the more common issues that lead to chargebacks—protecting your firm’s financial situation.

 



Working Capital

Nov 09, 2016

 

 

 With fourth quarter in full swing and the holiday season looming ahead, many companies are ready to crank up and take business to the next level. However, there is one thing needed to make that happen—money. Companies small and large need access to cash if they want to achieve more during the holiday season and into the first quarter of the upcoming year. While there are may ways to obtain needed cash flow, there is one option that stands out from the others. Learn more about what a working capital program is, why it is superior to a bank loan, how such a program can help you achieve all your business goals in the fourth quarter and what you need to do to qualify for such a program.

Tis the Season for Gift Cards

Oct 26, 2016

Tis the Season for Gift Cards

The holiday shopping season is a critical time for retailers—small and large. In fact, this could be the busiest season ever. The National Retail Federation (NRF) is predicting retail sales in 2016 to increase 3.6 percent—to $655.8 billion. That’s a huge chunk of change being spent. One of the top items sold during the holidays is always the gift card. In 2015, NRF surveyed respondents and found that around 73.4 percent of American adults were planning to buy one or more gift cards during the holiday shopping season. Stats like that should be reason enough to convince any retailer that offering gift cards is a must. However, if you are not yet convinced, we’ve gathered nine reasons you should make gift cards a primary focus this holiday season.