Business

The True Cost of Hiring Employees

If you want to control expenses and manage your finances responsibly, it’s important to know the true costs of your employees. As they’re such a large part of your cost base, you have to ensure your product and service prices take into account the total money you spend on employees, not just their salaries, in…

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The biggest expense for many businesses is paying for employees, and that’s not just tied up in their salaries. The true cost of hiring, paying, and providing benefits to a member of staff goes far beyond their monthly paycheck.

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Credit Card Processing, Restaurants and Bars

Is It Legal for Employers to Deduct Credit Card Processing Fees from Tips?

In general, yes, it’s legal, except where prohibited by state or local laws. States that currently prohibit processing fee deductions from tips are California, Maine, and Massachusetts. According to Nolo.com, the law is not clear in three additional states: Delaware, Kentucky, and Montana. In each of those states, existing laws regarding tips don’t specifically address…

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Credit card processing fees eat into restaurants’ bottom lines, and as owners look to lower expenses, many wonder, “Is it legal for employers to deduct the costs of credit card processing from servers’ tips?”

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Business

Growing Your Business: Costs and Considerations of Business Expansion

Of course, alongside opportunities there’s also risk. It’s important to manage that risk carefully and stay in control of any potential issues as you’re expanding. One of the biggest risks for expanding your business is the cost of entering a new market, and whether you can justify that cost by bringing in enough revenue. Before…

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Most businesses consider expanding at some point. Whether you’ve saturated your current market, want to widen your appeal, or you have great ideas for new products, there are always opportunities elsewhere.

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Credit Card Processing

Taking Fleet Cards – Wex, Voyager, and More

They’re all the same thing – a card used to purchase gasoline or diesel, as well as pay for tires, oil changes, car washes, or repairs on vehicles in a fleet. However, they all have different requirements and costs for acceptance. As a gas station, tire center, repair shop, or other business owner with fleet…

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Fleet cards go by a few different names. You may hear them called fuel cards, fleet cards, or a fleet-specific brand name, like Wright Express (Wex) or Voyager.

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Credit Card Processing

Clover Insights for Business Analytics

The Clover Insights business analytics app is available from First Data – one of the largest credit card processors, handling nearly half of all US credit and debit transactions. The company also processes Apple Pay and gift card transactions for major brands like Starbucks. In 2014, First Data launched Insightics, an online reporting platform that…

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Businesses using a Clover POS system have access to Clover Insights for detailed business analytics.

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Credit Card Processing

Direct Credit Card Processing: Is It Better?

One option is through their company: a simple path where they connect you right to the card brands, often called direct processing. The other option is the more complicated route they say you can expect with their competitors: a multi-step process cluttered with middlemen. It looks something like this: The path that shows a shorter,…

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A misleading diagram is becoming more popular on payment provider websites. It’s a “direct credit card processing” or “wholesale credit card processing” diagram, which shows two different options for securing a credit card processing solution.

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Buying Groups

National Federation of Independent Business Review

Group Name: National Federation of Independent Businesses (NFIB) Industry/Specialty (if applicable): Independent businesses Number of members: 325,000+ Website: http://www.nfib.com/ Sections of its website are dedicated to news, including updates on government policies and acts related to business. It also provides articles on a range of topics of interest to business, including marketing, holiday trends, taxes,…

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The National Federation of Independent Businesses (NFIB) is an advocacy group for American independent businesses. It has a buying group component, but initiatives to promote and encourage business is definitely at its core, even evidenced in its tagline, “Protecting the Future of Small Business.”

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Buying Groups

Group Purchasing Solutions Buying Group Review

Buying Group Name: Group Purchasing Solutions (GPS) Industry/Specialty (if applicable): No particular industry Number of members: 1,000+ Website: http://www.grouppurchasingsolutions.com/   How does the group work? There aren’t too many details on GPS’ website about how the group functions. What information there is seems pretty straightforward: members receive discounts on services and products. Like most group…

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Group Purchasing Solutions (GPS) is a buying group based in San Jose, CA. It was founded in 2008. Unlike other purchasing groups which are dedicated to particular industries or niches, GPS accepts all types of members. There are no industry or location requirements to join.

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