Business Loans For Small Busin...

Option small business loans can be a funding solution acquired through sources which differ from the traditional method of obtaining a loan – “The Bank”. Small business owners opt for this kind of loan as they have limited resources of collateral and since their business is a higher risk. These factors truly complicate the process of obtaining a loan. Business loans for small business is 1 option for funding is identical to personal loans. Because starting companies have tendency to fail in short span of time, lenders do not want to put their funds at higher risk. When the small company owner is refused by the banks for startup loans, you would generally expect other sources like close friends, households and organizations that are willing to take risks on new businesses. It is possible to also seek out an investor that is willing to invest their cash on your new business. There are several of private investors nowadays that will overlook the risk of startups as they are interested in the possibility the new company has to succeed. These business …read more

Business Ethics in Islam

Introduction: A person can earn money by two means; one is agriculture and the other is business. If business is not done according to the ethics then there will always be inflation and shortage of goods. As it can be seen in the case of many commodities like wheat, sugar etc. It is due to the stocking in, speculation and the selfishness of some businessmen. The government has also become a trader itself, while the shariah has stopped the Islamic government from trading. As it can be seen that business is an important part of life, the Prophet Muhammad (P.B.U.H) said, “People get 9/10 of their daily bread by trade.” Islam explains the concept of righteous trade by telling business ethics. If trade or any other thing is done against the morals and creed then this will lead to the bad end on the day of resurrection. Also by the law the person guilty of illegal business would end up no where. Islam emphasizes on the importance of the business ethics a lot. Allah says in the Quran, “they say …read more

Common Defects Found in Timber...

We’ve all heard the horror stories of timber arriving and only half of it being usable. We thought we’d have a quick look at some of the reasons timber can be defective. Cupping. Cupping is literally when tangential-cut boards experience shrinkage due to the growth rings swelling faster at the heart, causing them to bow. Radial-cut boards are therefore a safer bet as their shrinkage will be less noticeable. Knots. Knots are often a good indicator of the quality of the timber. The fewer knots, the higher the grade of timber. Knots are evidence of where trees have started to grow branches that got broken off (branch fail!). Knots only tend to dramatically affect the strength of the timber if they are “dead knots”, or knots that have become loose. Shrinkage. As the cause of cupping mentioned above, shrinkage occurs as timber continues to lose moisture content. The drying process increases timber strength, but continued drying often leads to shrinkage. Bowing. Imagine a sagging shelf. Incorrect storage or even the board’s own weight if ill-supported can cause gravity to pull …read more

Creating a Chart of Accounts f...

Independent restaurant owners often do their own bookkeeping. Even if they hire a professional accountant at year’s end, they may save considerable money by handling the weekly tasks themselves. Setting up a chart of accounts to fit the restaurant needs generally requires customizing the default choices of any accounting program. The selection of sales and cost of goods accounts on most systems does not provide for the separation of food and beverage categories that are needed. Even the leading bookkeeping program for small business, while it has a default selection for restaurants, fails to provide all of the accounts that most restaurant owners require. In addition, many of the expense accounts that are added are rarely used, leading to confusion during data entry, and don’t help with the overview of the business finances. The National Restaurant Association publishes a book titled Uniform System of Accounts for Restaurants. The book provides detailed descriptions of the application of generally accepted accounting principles to the restaurant industry. That book includes a sample chart of accounts, but notes that “the codes used here are …read more

What is This New PCI Complianc...

If your business accepts credit cards, you have probably been recently advised that you will be charged a new annual fee to pay for the cost of keeping your business compliant with the latest required credit card security regulations as handed down by Visa, MasterCard, Discover and American Express.  This article will explain what compliance is all about. First of all, let’s get a few terms explained. PCI stands for Payment Card Industry.  DSS stands for Data Security Standard.  The credit card issuers have suffered huge losses due to credit card fraud and they have decided to take new steps to prevent as much of that as possible.  These steps include coordinating with merchants to establish and enforce new credit card number protection strategies including the better encryption of credit card numbers when transmitted during a sales authorization by a merchant, and storage of customer credit card data afterward. There are basically two ways to get a sale authorized:  either using a credit card terminal next to your cash register (or integrated into your POS) or via Internet.  Some merchants use a …read more

Business Industries That Need ...

Today, business lead generation is an integral part of any company. From small to medium scale companies, even to large business corporations, generating leads assures them of a profitable output in sales by the end of the campaign. Businesses that have initiated this type of marketing strategy can expect a satisfying annual report for their ROI. There is not a company in this world that does not want their business to grow in terms of their finances among other categories. Hence, b2b lead generation can put their business on the map. Nonetheless, there are many business sectors that may need a boost with regards to generating leads. Let us take a look at some of them. Information technology – Leads for this sector are harder to generate for the IT products and services are highly intricate and are mostly targeted for high-end customers. IT companies have to face the everyday challenge of getting the attention of their prospects. Most technology companies have a number of gatekeepers that screens each and every call that go through. This can be time consuming …read more

PCI Compliance Fee - Is Paymen...

When it comes to an online service company or a merchant that is using the credit card companies Visa, MasterCard, American Express, Discover, or Japan Credit Bureau, to process their cashless purchasing transactions, the merchant’s agreement with the transaction processing bank is binding. This agreement ultimately determines what security procedures and requirements the merchant must meet to continue to use the card processing equipment and to continue with the cashless transactions. However, the five credit card companies Visa, MC, AMEX, Discover, and JCB, have created a consortium, named Payment Card Industry Council (PCI Council) that puts forth requirements for merchants to set up Data Security Standard, DSS, and customer data security procedures in order to be PCI compliant. Many times, the merchant’s agreement with the bank will include the need for the merchant or online service company for the PCI compliance, and the question of the PCI compliance fee comes up. Before we determine whether PCI DSS compliance fee is worth it for your business, we must define what is PCI compliance and consider the pros and cons of PCI …read more

Role of Merchant Banking Servi...

Merchant banks found its origin in the early periods in the country of Italy by the Italian merchants. The main function of the merchant banking services include providing financial advice and services to corporate as well as individuals. These banks act as a sort of intermediary between capital issuers and the buyers of the securities. These securities are issued by different companies in the stock markets to raise funds. The Necessity of Merchant Banking Services The economy of the country is often afflicted with different unpredictable conditions like inflation, unemployment, stagnation and so forth. The need to sustain a steady growth is necessary for corporations and individuals which is possible only with a long term strategy and financial options. The merchant banking services provide solutions and financial options. These banks provide advisor services to clients based on a particular fee. They also provide other financial services to mergers and clients. It is the only financial institute that invests its capital in the clients’ company. It acts as an intermediary between those who possess capital and those who need capital. To …read more

Advantages and Disadvantages o...

Virtual credit card processing devices have become the new trend in the electronic business. This is the reason why most people do business on the internet. Almost all credit card processing devices are compatible with any internet connection. Since the highest spending limit is pre-fixed, they are similar to gift vouchers that are issued by banks. Though the names of various cards differ, their mechanism remains the same. The virtual credit card processing is an effective measure to put an end to the credit card frauds. If you want your company to get a good credit score, you must register yourself with the best virtual credit card enterprise to make your presence felt in the online market. This in turn will attract more customers to your store. Today, most of the people carry a plastic card than hot cash. It is time saving and helps customers to make deals and shop instantly because most of the consumers are impulsive shoppers. There are many advantages of these cards and the major one being, its capacity to check the fraud related activities. …read more

7 Merchant Service Fees To Loo...

Although it would be nice to go through a merchant service for free, you better get used to merchant account fees because there are lots of them. Right from the start you will begin getting docked with fees, but the convenience and professionalism make having a merchant service all worth the fees. Here are 7 merchant service fees you can expect to deal with. 1. Transaction fee. The transaction fee is the flat rate fee that is charged with every transaction that is completed. It’s not much of a merchant account fee, but you can accept to pay anywhere from $.10 to $.30 per transaction. 2. Authorization fee. This merchant service fee is charged as soon as the transaction is processed. What is bogus with this fee is that you are still charged regardless of whether the transaction is accepted or denied. 3. Monthly minimum fee. All merchant services have different monthly minimum fees which makes it vital that you look into the different rates. A monthly minimum fee is how much you are guaranteed to pay for fees at …read more

Online Credit Card Processing ...

Most of us use credit cards – on e-commerce websites as well as physical stores. However, not many people understand the working of a credit card and the elements involved in moving funds from their account to the merchant's. In this article, we explain that process (for online transactions specifically). Types of transactions Credit card processing includes a set of transactions. These are explained below: Preauth transactions: In a preauth, the validity of the credit card is verified. The charge for preauth is typically around $ 1. Postauth transactions: In these transactions customers place an order and the product is shipped at a later date. At the time of order, a card hold is applied on the customer's card. The merchant applies a postauth to transfer the funds after the order has been shipped, also releasing the card hold. Credit transaction: This is the transfer of funds from the merchant's account to the customer's. Sales transaction: In a sale transaction, the customer makes a purchase and uses the card to transfer funds from their account to the merchant's. Chargeback transaction: …read more

How To Get Out Of A Lease On C...

A Leasing Nightmare Leasing can be a very frustrating experience. I once called on a merchant who had 3 different leases and he wasn’t even sure what they were for. Upon examining his business checking account statement I was able to help him identify who the leases were to and what they were attached to. It turns out he had a lease for his terminal, another separate lease for a pin pad, and a third lease of $89 a month which he’d been paying for 6 years and wasn’t even sure what it was for. This particular lease had expired after 5 years, but he was still unsuccessful getting the leasing company to stop taking money out of his checking account. How can this be, you ask? That’s a good question, one you’ll be able to answer by the time you’ve read all of this post. Your Processor Is Not Your Leasing Company Many merchants are surprised to learn that the credit card processor and the leasing company which owns the leasing contract a merchant signs are two entirely different …read more

The Basics on Becoming an Onli...

Online selling is on the rise because of the changing shopping habits of today's consumers, those under 30 years old who were either entering into their teens or have just graduated from college when the Internet bloomed in the mid-90's. This is the generation who spend most of their time reading and sending Twitpics, shout-outs, reposts or jejespeak on their FB, Flickr, tumblr, and Blogspot pages, in their desire to be visible and look cool on the Internet (now broadband and a powerful tool for business) that has become collaboration-friendly, thanks to Web 2.0 technologies. Fast forward to a cool question. Do you want to join the world of Internet retailing as a pure player to earn extra income out of the Net Geners whose disposable income will remain 'awesome' at least until 2020. Do I hear a resounding 'yes' out there? That means you're getting into a winning ambit. Online retailing poses the biggest opportunity for all Internet users to earn from the web. After all, you spend more than 4 hours before your computer screens doing any or …read more

Difference Between an Entrepre...

Is there any difference between an entrepreneur and a business man. If yes how do they differ. I have seen this question being asked on the internet on multiple platform with no proper answers offered. So I referred to some business texts to find out how these two differ from one another. Those text says that an entrepreneur is being called so when he initiates, conceptualize and materialize a business process which is entirely unique. In other words an entrepreneur is someone who starts a business from a fresh idea and make it work. A business man is some one who start a business on an existing market platform laid by the entrepreneurs. In this context it we can see that entrepreneurs weigh more than a business man. Being an entrepreneur is a difficult task. One will have to cut his own way through to find his market and get his brand or the product established. Outgoing attitude and a will to succeed in any difficult circumstances are the common traits one find in an entrepreneur. Acceptance in conservative societies …read more

Two Tips for Creating the Best...

No matter how good your credit card processing services are, they won’t sell themselves. To make the sale, you need confidence, poise, and above all, great communication skills. Over the years we’ve had thousands of meetings with potential clients, and we’ve learned a lot about what goes into a successful sales call. So today, we’ll offer you two tips to help you have the best merchant services sales pitches possible. Keep it Fresh Usually, the more you do something, the better you get at it. However, there’s a downside to repeating something over and over: staleness. And when your pitch gets stale, it suffers. Pay attention to your potential customers and you’ll be able to tell when this happens. They’ll shut down and stop listening when you’re giving your usual information about credit card processing services. They’ll become defensive when you—with your focus blunted by giving the same speech over and over–emphasize a word the wrong way. You can avoid this by not giving the same pitch every time. Don’t memorize. Instead, have a general idea of your talking points …read more

What is a Quick Sale Retail (Q...

Have you ever been in a fast food restaurant or a major chain pharmacy that accepted your small dollar purchase against your credit card and did not ask you to sign a receipt?  That is a QSR transaction.  Quick Sale Retail.  That merchant is pre-set up through their merchant services provider (MSP)  to accept credit and debit card transactions up to a certain dollar amount and not bother the customer with signing the receipt, in order to move customers along more quickly.  You can have this option in your business, too.  You do not need to be a national brand retail business. The benefits to you as the merchant are obvious: the faster a customer leaves your register, the faster you can check out the next customer in line.  And the customer appreciates saving their time as well.  And you save on receipt paper. Save a tree, think green. Some merchants are obviously going to be worried that not having a signed credit card transaction receipt may be a problem if a customer decides to dispute their transaction later on. But the …read more

Payment Processing Benefits

Gaining popularity with time, payment processing is becoming an increasingly important service that e-commerce businesses require. With a merchant account it is easy to get payment processing, but only if your merchant account provider is offering it. Generally there are two kinds of payment processing available, these being manual and real-time processing. Real-time processing is more reliable and secure and offers lucrative ways for e-commerce businesses to prosper. It not only saves time but also offers hassle free solutions for your processing needs. With reduced risks and greater protection, real-time payment processing offers major benefits for processing online transactions. With real-time processing options you are able to accept and reject orders hence reducing the fraudulent cases greatly. Why Payment Processing Options for your Business To operate a successful online business means providing your customers with various payment processing options. Customers look for convenience and fast payment processing options when they visit some website to buy any goods or services. Payment processing is an important factor for a successful business, online or offline, it is extremely crucial for making significant sales. …read more

Review of the Lyoness Shopping...

For the purpose of this review, I am only considering the basic fact that by becoming a Lyoness member FOR FREE you will immediately be able to save money (in the form of a cashback of between 1 and 5% on every transaction), as well as a number of shopping Points (explained later) on most shopping that you would usually do anyway. By recommending the saving you are making to all of your friends (after all, what are friends for?), You can save even more! The Lyoness operation is definitely a win-win for shopper members and merchants alike, but how does it work, and are there any areas that could possibly be improved? From the shopper's point of view, the overall concept could not really be any simpler. Getting started is free, and there are no ongoing membership fees. All the shopper has to do is to make sure that he or she makes as many of their usual purchases as possible from local or online Lyoness Merchants. By making sure they frequent a Lyoness Merchant to do their normal …read more

What You Need to Consider When...

Looking for a Merchant Account can be a challenging subject especially for small businesses who are looking for the first time. Terminology and jargon can often be confusing. The recent boom in E-Commerce has made it absolutely vital for Merchants to be able to offer their Customers a safe and secure way to purchase Goods and Services online, using their Debit and Credit Cards. Here are several factors you should consider when you are comparing rates, terms and offers. 1) How will the Customer Pay What Merchant Account are you looking for – will Customers be purchasing goods on your website in a Card Not Present scenario (this is commonly referred to as E-Commerce) as the Customer is not physically present when the transaction takes place. Another Card Not Present transaction scenario is where a transaction is taken over the telephone and keyed into a Virtual Terminal. This is referred to as a MOTO transaction. Other businesses may need to accept E-Checks or ACH processing. Other Merchants will also look for third party processing or alternative forms of payment such …read more

How To Read A Credit Card Merc...

Reading your merchant statement and finding the rates and fees you're being charged can be like playing "Where's Waldo?". One reason is because there are nearly as many different statement formats as there are merchant acquiring companies. Also, because of how competitive the industry has become, many monthly statements do not completely disclose the rates being charged. And sometimes they are completely hidden. I know of banks that do not even send a statement out. If a merchant wants details of what they paid they have to logon to an online account to find it. It's War Out There! One reason for this is the competitiveness. You have to remember that credit and debit cards make up part of a 2 trillion dollar industry. Money is like a magnet – it attracts Most merchants are being contacted continually by competing processors trying to get them to switch processors, by promising "lower rates", etc. So, to prevent a sales agent from another processing company from taking a merchant away – some processors make it as hard as possible for a competitor's …read more