Archive for December, 2009

Retailers and small business owners have been hit hard due to consumers cutting back on spending.  The recession is painfully reaching every industry worldwide.   Therefore, what do retailers do in 2010 differently than in the past? How do businesses stay afloat during these disheartening economic times?  What are the business trends to follow?  There are key elements present in big box retail chains allowing sales to remain while others falter.

Concentrate on Consumer Ease

Successful retailers separate themselves from the rest of the pack by focusing on customer convenience.  These businesses have examined consumer behavior and traits.  They have asked themselves if consumers prefer to purchase the items in the store or online.  If the answer is online then the flourishing businesses are ensuring the service is available.  It helps make certain earned profits occur regardless of the economic climate.

Provide Value

Consumers are aggressively seeking the best deals no matter how seemingly insignificant the purchase may appear.  Therefore, businesses aware of this trend are thriving.  For the profitable retailers are constantly comparing prices with competitors and pricing accordingly.  Furthermore, offering a benefit at a lower cost than others results in customers flocking.  The big box retailers of today know this model and emulate it better than the rest.  It is why big box retailers are ringing up sales, while other business doors are closing.

Promote Unique Brand

Target has affiliated itself with designers who create lines specifically for Target only.  Fry’s Grocery Stores sell Kroger Signature brand products.  Safeway has Eating Right as its original brand found only in Safeway affiliated stores.  These are examples of creating, developing, promoting, and, ultimately, selling a unique brand.  It keeps these retailers distinguished from other competitors in similar fields.

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How do you pay for business expenses when financial return has been slow?  With what means do you pay for needed business expansion items, equipment, and/or new office software?  These are issues faced by small businesses on a regular basis.  One solution to your business dilemma is to obtain a business cash advance.

A business cash advance is an easy way to manage necessary cash availability for daily business needs.  For instance, if you are a restaurant owner and need new kitchen equipment, but have no cash, then a business cash advance would be a solution to your problem.  For it does not take long to be approved allowing you to have the money in your hands sooner in comparison to applying for a traditional business loan.  Furthermore, a business cash advance does not require collateral or money as payment.  The repayment occurs via credit card transactions.  Every time you ring up a credit card transaction, the borrower is paid.  This allows your business to continue earning money while the borrower is receiving payments.  In addition, the business cash advance allows your personal assets to remain untouched relieving some stress from business owners due to personal property remaining intact and not depleted during the process.

A few factors needed to qualify for a business cash advance are you need to be in business for at least 1.5-2 years, and a history of credit card sales.  The minimum amount varies between borrowers.  Moreover, you must be able to supply business credit card and bank statements proving a history of sales.

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Dec
28

Business Credit Card Advice

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Credit CardsNo matter how large or small a business may be, there are always business expenses.  There are office supplies, employee expenses, travel costs, client meetings and dinner bills.   The spending compiles quickly causing business owners to search for an answer regarding how to track expenses, pay for bills, and manage the money.  An effective tool to solve such business cost issues is through a business credit card.

A business credit card breaks down expenditures by categories aiding an owner in monitoring where the money is going, but what every business owner should first engage in prior to selecting a credit card is research annual fees.

Choosing a card with no annual fees is the best option, but if it is not possible shop around for a credit card with a minimum amount of fees.  It will save money in the end.  Furthermore, consider what other services and benefits do the cards offer.  For instance, is there a rewards program with cash back on the credit card with no annual fees or does the card with annual fees offer more rewards making it worthwhile after all.  You need to make comparisons before finalizing your decision.  Do the research and breakdown options before deciding on which business credit card is best.

Another important aspect to remember when selecting a business credit card is the interest rates.  Interest rates make a huge difference when judging which credit card company to choose.  Many cards offer a 0% APR promotion for new cardholders, but read the fine print.  For the interest rate after the initial period may increase significantly.  Thus, be thorough when picking a credit card for your business.

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Categories : Credit Cards
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