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Small Business Insight

Velocity Merchant Services

Recent Posts

Professionalism and the Entrepreneur: Maintaining and Improving Your Business

Sep 19, 2017 | News

 

In today's user-centered and highly competitive business environment, demonstrating a lack of professionalism in your interactions with clients, vendors, and consumers can do more than garner a few negative online reviews. Indeed, many businesses have crashed and burned in a spectacularly public manner after responding to criticism with juvenile barbs or even threats, the recent closure of Amy's Baking Company being one of the more visible examples. 

But professionalism involves more than just taking critique with a smile, and should extend to treating all with whom you interact in a business capacity with respect and courtesy. Read on for some more reasons you'll want to place "professionalism" at the top of the list of cornerstones for your business, as well as several tips and tricks you can employ to improve your reputation among other business owners and members of the community. 

Motivating Employees

Sep 12, 2017 | News

 
For small businesses who lack the financial resources of major corporations, finding innovative ways to motivate and inspire employees may seem like quite a challenge. Keep in mind, though, that all employees are different and look for motivational methods for employees that won’t cost your business a pretty penny, like those listed below.

Coping With Change: How Can Your Business Adapt and Thrive?

Sep 05, 2017 | News

 

Change is perhaps the only constant of the business world; as technology evolves and consumer tastes shift, many businesses (and even industries) will fade from view, forever relegated to the history books.  

However, while manufacturers of pocketwatches and buggy whips may have had decades to notice the writing on the wall before their industries became non-viable, today's business environment moves at the speed of light. Those who don't embrace change or modify their business structures and practices to adapt to these changes could quickly find themselves looking at an empty store.

However, it can be tough to form a long-term view of your company and how it fits into the broader economy when you're spending your days putting out (figurative) fires, hiring and supervising employees, and performing the other myriad tasks required of you as a business owner. 

Read on for some ways in which you can position yourself to adapt to--and even embrace--changes in marketing methods, developments in technology and smart POS systems, and subtle shifts in customer demands and desires. 

Fuel Pumps

Aug 29, 2017 | News

 

As the world trembles with the approach of the coming EMV compliance deadline, fueling stations have received a temporary reprieve. The EMV compliance deadline for most businesses is October 1, 2017. That means that businesses must be able to accept credit cards with the new EMV (Europay, MasterCard, and Visa) chips. Retail establishments unable to accept the chip readers will be responsible for fraudulent purchases made in their stores.

As A Business Owner, What Should You Know About The ACH Process?

Aug 22, 2017 | News

Whether you've recently upgraded your business's payment technology from a credit card scanner to more modern electronic methods like Automated Clearing House (ACH) deposits or you're just starting the research process, you may find yourself shocked by the speed with which money can be transferred across the globe in the internet age.  

The basic banking processes that go into depositing a check and withdrawing funds from the source account can seem rudimentary in comparison to electronic deposits, and even those who use ACH for a wide variety of business and personal transactions may find themselves mystified when asked to explain how it works (or how its deposits differ from "regular" credit or debit card transactions). How can the many advantages of ACH transactions push your business forward? 

Read on to learn more about the ACH process from start to finish, including how your accounts are debited, how payments can be returned, and some of the advantages that may be posed by auto pay arrangements.

Image Control

Aug 15, 2017 | News

 

In the world of business today, image is king. Social media is being used every day to shape the image businesses of all stripes present to the world. For better or worse, social media is here to stay. Learning how to use it wisely must be a key strategy for any business interested in image control for modern audiences. In fact, mastering the skillful use of social media for image control can make a world of difference for your business – now and in the future. These are a few things you might want to keep in mind when it comes to managing your image and reputation through social media.

Gateways

Aug 08, 2017 | News

 
Conducting business and accepting payments today can be a complex proposition for the uninitiated. Whether you are operating a brick and mortar business, taking on a virtual business venture, or engaging in some combination of the two; you will find that your business is greatly hampered if you are unable to accept credit card payments. This is where payment gateways come into the picture.

Finding Good Employees

Aug 01, 2017 | News

 
It’s not enough today for businesses to simply find good employees. That’s not difficult to do at all. What you’re looking for, if you want to make waves in your industry and outshine your competitors, are rock star employees who can take your business so much further than you’ve ever imagined before. But finding these rare beasts of industry can feel more like mission impossible than a simple talent search.

That is, of course, unless you adopt some of the following tactics as part of your search for employees who will not only be motivated to do remarkable things for your business, but who will inspire others in your organization to achieve more as well. Consider these tactics as part of your next talent search to find employees who will raise the bar for your entire organization.

Budgeting for Small Businesses

Jul 25, 2017 | News

 
Your budget and budgeting ability will have a big impact on the success and profitability of your business; learning how to set up a budget and how to ensure you have the best, most accurate data can help you make the most of your revenues.

At its most basic, a budget allows you to match your revenues up with your expenses and can help you determine if you have enough money to run your business or even expand. When you lack a budget or plan, you may end up spending far more than you anticipate running your operation. Learning more about what your business spends and what you bring in can help ensure you are fully aware of where you stand and that you are running as efficiently as possible.

Accepting EBT Payments Can Enhance your Business

Jul 18, 2017 | News


 

The Electronic Benefit Transfer program allows recipients to easily manage and spend their benefits in stores and online. A wide range of benefits can be provided via EBT, but most fall into one of two categories; food stamp benefits and cash benefits.

Food benefits can only be used to buy foods and beverages (excluding alcohol), while cash can be used to purchase other items as needed. Both food and cash benefits can be spent and accessed via a magnetically encoded card, just like a credit or debit card. According to statistics from the USDA, the average monthly EBT benefit is $125 per person covered.

For food benefits, the Supplemental Nutrition Assistance Program (SNAP) is the source of EBT funds, while the Temporary Assistance for Needy Families (TANF) program covers cash assistance, state assistance, and even some refugee benefits. For retailers, the ability to accept and process benefits thorugh a smart POS like Clover Mini can help form bonds with the community and increase revenues, too.