Author: Peggy Bell

How To Save Money For Your Small Business By Using New Technology

owners all know that it’s important to watch your finances, even if your business is doing well. When small businesses fail, it’s almost always because of financial reasons, and poor planning can sabotage an otherwise successful company. If you’re running your own small business, you probably already have a good budget and business plan that outlines the various ways that you will spend your money, allowing you to have enough left over in case of emergencies. However, it’s always helpful to save money in other ways. Here are a few ways in which technology can save you money for your small business.

New technological developments are often time savers, which means that they are also money savers. Any time that you can increase the efficiency of your business is more time that you can spend making money. In some cases, business owners miss out on ways that they can improve efficiency because they don’t do research on new technology that is available in their industry. For example, your business may benefit from a spray type deaerator from a reputable company like Deaerator, but you first must learn about this new product so that you can see if it will save you time.

Your small business can also benefit from advances in marketing, thanks to the internet and the various social media platforms. You no longer need to spend a lot of money on ads on the radio or your local TV station. Now, you can reach out to new customers as well as old ones to grow your brand and bring in new clients. If you aren’t comfortable and confident with social media, it’s easy to hire an expert who can craft a strong social media campaign for your company.

Finally, there have been developments that make managing your employees …

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Try New things by Adding Alcohol in Your Dish

For anyone who runs a cafe, bar or restaurant, the process of getting a permit to serve alcohol in Texas can be a complex one. The laws regarding the TABC permit, which allows a company to legally serve alcohol, are complicated, and they are different in different cities, which can make the process even more complex. That’s why even knowing how to get an alcohol permit in Dallas TX doesn’t necessarily mean you will know how to get one for a business in Austin. Such are the responsibilities that come with owning a business. For many business owners, the months before getting every detail in place in order to be ready for opening day are hectic and very busy, yet for a restaurant, this is the same time when a permit to serve alcohol must be applied for. If it all sounds pretty complicated, it is.

The Economic Reality of Serving Alcohol

Why do cafe and bar owners go to all the trouble of getting an alcohol permit? The reality is that having a license to serve alcohol can make a huge difference in the profits at a company. Being able to offer drinks allows restaurants to enjoy a large profit margin, much more than just serving food. Alcohol service can also bring in a larger customer base, so it makes a lot of sense to go ahead and get a permit. It’s crucial to have a permit, of course, as serving alcohol comes with a lot of responsibility.

Bringing in Consultants

Because of the complexities of the permit process, however, it can take up to six months to get a permit and go through all the myriad details of the process. This is why some business owners call on the services of permit consultants who know the system well …

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Canadian Entrepreneurs Optimistic about 2017 Business Performance

For some Canadian entrepreneurs, a lot of economic uncertainty lies ahead. The ever-changing political landscape has many concerned. However, those that are openly embracing technology – specifically ecommerce – are optimistic about a promising business performance this year. According to Huffington Post Canada, the more small and mid-sized Canadian businesses took advantage of technology, the more optimistic they were about 2017. This optimism is driven by certain, key factors:

Multiple Markets

With advancements in technology and ecommerce, entrepreneurs are no longer restricted to one region or country. They can now reach multinational consumers. Canadian entrepreneurs that operate on eBay, for example, reach 19 markets on average. In addition, ninety-nine percent of them export. This is huge compared to traditional small businesses; on average, these businesses reach 2.5 countries and only 11.8 percent export.

Multiple Channels

With more and more consumers shopping online, ecommerce is no longer a trend. Consumers are choosing where and when they wish to buy. Thus, it’s necessary for businesses to take advantage of multiple-channel strategies. Canadian merchants that sell through online channels averaged 20 percent higher annual sales compared to merchants who didn’t. Moving into 2017, Canadian SMBs are optimistic about their ability to connect with their customers anytime, anywhere through multiple channels.

Online Marketplace

Merchant’s aren’t just excited about geographical and channel opportunities. Platforms play a huge role in enabling ecommerce and trade. The SMB Optimism Index discovered that seven out of ten retail SMBs were confident that selling through an online marketplace would allow them to be successful internationally. To be more specific, the Index shared that 86 percent of merchants that sell through online marketplaces expect their sales to grow. From the mighty Amazon to niche marketplace Etsy, the opportunities are endless.

Canadian Merchant Account

Without a merchant account, entrepreneurs are unable …

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PayPal and Its Alternatives for Online Business Transactions

PayPal and Apple have entered into a partnership to enable users to use PayPal as a payment method when paying for Apple’s services such as the App Store, Apple Music, and iTunes, and more.

The feature will be introduced in 12 markets, including the US and the UK. It will be integrated with several devices across Apple’s ecosystem such as the iPhone, iPod, Apple TV, and Apple Watch.

As the most popular online payment platform, PayPal is a preferred choice for handling transactions. It’s known for its secure, convenient and fast services. Thanks to PayPal, there is no need for bank transfers and checks. What is important, PayPal is free: you just need to have a valid PayPal account.

However, there are costs associated with using PayPal for payment processing. PayPal offers business and premier accounts. Both require a standard fee for online payments and invoicing, which makes up 2.9% plus 30 cents per transaction within the U.S.

PayPal’s premier account is designed for casual sellers, meaning those who don’t consider their site a steady source of income and plan on buying and selling. This type of account requires having a business account and downgrading to the premier account. As for the business account, you should operate under a company or a group name. Be aware that each account type requires additional fees for refunds and chargebacks.

PayPal also offers a partner service called Braintree that provides a similar checkout experience to Payments Pro. This is good for those whose customers prefer virtual cash and accounts like Apple Pay and Bitcoin.

Let’s see what alternatives to PayPal you can choose. Consider Google Wallet, Amazon Payments, TransferWise, Skrill, Payoneer, Stripe, and, of course, High Risk Providers. Reputable high risk payment processors like eMerchantBroker can be the best choice for merchants of …

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