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Shoppers Prefer Digital Payments

Even when shopping offline shoppers prefer to use digital forms of payment, reports Newsday.

The payment landscape is evolving, and small businesses need to keep up if they want to capture the most sales.

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Better Ways to Collect From Customers

Small businesses have a new way to increase their cash flow with a payment processing solution from Kabbage, reports CPA Practice Adviser. 

Kabbage, Inc., a data and technology company providing small businesses cash flow solutions, announced the general availability of Kabbage Payments to its customers, a new payment-processing solution for small businesses that makes getting paid faster as simple as sending a text message

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Driving Traffic to Your Website

According to Small Business Trends, drawing traffic to your website is important if you want to have a good online presence. 

Your small business’s website is one of the most important digital assets you have. But even with a well designed, expertly curated site, you can’t hope to make a real impact unless you can get people to visit it. 

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How to Have a Successful Business

Small businesses have the best chance of succeeding if they have a good business plan and a well-defined niche, reports Forbes. 

It’s no secret that a large portion of entrepreneurs and aspiring business owners fail. Studies have shown a full 20% of small businesses fail in their first year, 30% in their second year, and 50% by year five.

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Program Helps Business Succeed

Goldman Sachs program to help businesses during the financial crisis has now served 7,300 business owners, reports the Harvard Business Review. 

Launched in the midst of the financial crisis in 2009, Goldman Sachs’ “10,000 Small Businesses” program provided free business education, a network of support, and access to capital for small businesses across the United States.

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Selling Your Small Business

Prior to attempting to sell your small business make sure you understand the whole process, reports Entrepreneur. 

Selling a small business for the maximum value to the right purchasers on the right terms can be a tremendous challenge, even for experienced business owners. 

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New Tariffs Worry Small Business

According to Fox Business, the latest tariffs impact items from Europe including wine, cheese & whiskey, worrying small business retailers ahead of the holiday season. 

A new round of tariffs took effect on Friday, but they have nothing to do with China or North Korea. These duties imposed by the United States are on products that many Americans enjoy.

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Cybercrime Costs Big Dollars

According to CNBC, cybercriminals are targeting small businesses. The average cost of the attack to the small business is $200,000.

In an age of ongoing digital transformation, cybercrime has quickly become today’s fastest-growing form of criminal activity

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Consider S-Corp Instead of C-Corp

Before becoming a C-corp or an LLC, small businesses might want to consider becoming an S-corp, reports CPA Practice Adviser. 

With all the decisions your clients are expected to make when starting a business, which legal structure to choose might not get as much consideration as it should.

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Lending is Up for Small Business

Small businesses lending is up, reports Forbes. Big banks are approving 28% of all small businesses applications, while smaller banks are approving 50%. 

Approval rates for small business loan applications rose to another post-recession record (27.9%) at big banks ($10 billion+ in assets), while approval percentages also stayed above 50% at small banks in September, according to the latest Biz2Credit Small Business Lending Index™

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