Small Business Merchant Accounts

By: Kent Pinkerton

Most small business owners find themselves in a Catch 22 situation because on one hand, they need to increase the customer base, but on the other hand, they cannot hire enough employees to service these new customers.

Small business merchant accounts can help the small business owner to over come this dilemma. Small business merchant accounts allow the business owner to accept payments from customers in various modes such as credit cards, checks, and other electronic mediums. Electronic check processing and credit card payment processing are some of the more popular payment methods today. Payment gateways that come with a small business merchant account allow the instant processing of purchases, and this rapid processing allows the merchant to handle many more transactions more quickly.

As the payment process is made simpler and safer, more customers return for repeat purchases, and the business owner does not have to hire any new employees and save time on needless paperwork. The prompt handling of purchases contributes to efficiency in a business, and being able to accept all forms of payment--from personal checks to major credit cards--can increase sales up to 40%, according to studies by the industry. All this results in increased sales volume of the business. Therefore, a small business merchant account can make the difference between survival and failure at the crucial start-up phase of a business.

This method of process payments via small business merchant accounts becomes more important when the small business owner is setting up his business. He does not have enough capital when starting the business to hire more employees to service his clientele but his business success depends upon increased customer base.

Small business merchant accounts offer credit card processing services for a wide variety of business models –online or physically located stores, mail order, telephone order, or mobile business. small merchants can enjoy best possible discount rates with processing services that best meet their needs.

Critical Small Business Tips On Vision!

By: Ian Mcconnell

Do you have a clear small business vision?

A small business vision can be compared to planning a holiday! People usually decide where they want to holiday based on the offerings of the destination.

If it's a relaxing holiday they are after, they may go to Fiji. But if it's for shopping, then Dubai may be their choice. If it's to climb the Sydney Harbour Bridge then they will go to Sydney, Australia.

Holiday destinations are determined by desires, with a few restrictions like budget and time available.

The same should apply to your small business. In 5 years time what do you want your small business to look and feel like?

Do you want a large street frontage or small office at home?

Do you want to be actively involved or have a manager controlling your employees?

How many employees do you want?

Do you want a business with excellent cash flow or a business that is worth a large sum of money when sold?

Answers to these questions and much more will help to provide a clear vision of your small business in 5 years time. And often this will completely shape your growth.

The majority of small business owners start a small business based on their trade or what they know. They never usually give much thought to their small business vision.

While it's comforting running a small business using the skills you have, sometimes this can be a recipe for disaster.

Business is a game - it should be simple and fun. But business owners tend to make a simple thing into a complicated thing and let others control them.

Your small business should be providing a better lifestyle for you - more money for less hours worked. But this is hardly ever the case; it's more like working 60+ hours a week for about $4 an hour.

Why is this so?

Because small business owners have never sat down and thought about their vision. They don't know where they are heading, they have nothing to aim for. They don't have a crystal clear vision so they allow day to day activities to control where they are headed.

Decisions are based on what happened that day, instead of the business vision you are working towards.

Take the time now and think of your small business vision.

What will your small business look like in 5 years?

Why will your customers continue to buy from you?

How will you beat your competitors?

What will make your small business attractive to any buyers?

What are all the potential risks?

Think carefully about these questions and then write your vision down. This will immediately tell you, the universe and anybody else, exactly what you are creating.

It gives you a defined target to aim for and achieve.