Before Profitability: How Long Until You Run Out of Money
It’s a sad fact that if your business isn’t making more money than it’s spending, at some point you’re going to run out. And in almost all cases, that means you’re out of business.
It’s a sad fact that if your business isn’t making more money than it’s spending, at some point you’re going to run out. And in almost all cases, that means you’re out of business.
It’s here: Taking PayPal in stores.
Okay, technically it’s been here for a while, but the number of stores that can accept PayPal is about to shoot up dramatically with the official beginning of First Data’s (now Fiserv’s) in-store PayPal acceptance.
You have probably been told that business credit cards are expensive to process. What you haven’t been told is that there are steps you can take to get lower pricing.
NATM Buying Corporation is a group purchasing organization based in Irving, TX but operating across the United States. It has 11 regional members that sell appliances and electronics. Despite its relatively small membership, it’s a nationally recognized group and all of its members are leading retailers in their verticals. This may have to do with the requirements to join, which include a stipulation that a member business must do at least $50 million in sales per year.
You may have heard of group purchasing organizations (GPOs) or buying groups, but what are they and how exactly can they help your business? A buying group is an organization made up of small businesses that band together so they can negotiate as a larger group with vendors to receive better pricing and terms on goods and services.
Square entered into the world of marketplace lending a little over two years ago through its Square Capital (Square Cap) program, offering funding to businesses that process credit card through Square. Square’s success with lending has led to a broadening of the program to include the first of several partner companies whose customers may now qualify for similar financial assistance.
The switch to EMV chip cards was a mess for many businesses. The need to purchase new equipment, long delays in certification, customer confusion over using the chip cards, and retraining staff on accepting cards are a few of the problems businesses experienced.
It’s a case of a home improvement retail giant versus two network payment processing behemoths. In mid-June 2016, Home Depot filed an antitrust lawsuit in federal district court in Atlanta against Visa and Mastercard, alleging credit card security is inadequate and exposes retailers and customers to hacking.