In addition to everyone’s favorite day, April 15th – tax day – April is also the month of National Financial Capability. While everyone should take charge of their own finances, and their business finances, April is a good time to remind people how important it is. It can be easy to overlook one item, and in return, you can owe money to the government in taxes. This happens all too often, and you need to be organized with all of your personal and professional financial issues.
Sadly, most small businesses are financially illiterate. While big businesses can hire a “money guy”, small businesses usually cannot afford this luxury. All merchants need to take into consideration every little thing that costs their business money. If you are wanting to start up a business, being unable to translate financial lingo should not stop you. You just need to know where to go, and what to do, when your business is in need of financial help.
One of the biggest issues for businesses is a lack of cash. This can lead businesses to do many things, from cutting staff to raising prices. These are the wrong things to do. Of course, if you are over-staffed, or you are charging a good bit more than your local competition, you need to consider these changes. The main thing you need to do is to look at a cash advance. I’m not talking about a cash advance from a “pay by the week” place, but rather a cash advance from a merchant account processor, like FAM. With FAM, you can obtain a cash advance, and payments are not taken out of your account until your business is making money.
We all know that most businesses do not make money right away. Banks are payday lender-type companies do not care, as they simply want their money paid back – along with high interest. With a cash advance from FAM, you do not have to worry with someone tracking you down for a payment, or calling to harass your family. Our payments are taken out of your merchant account when your business begins to make money. Interest is also less than with other types of cash advance companies. If you are in need of funding, check out our cash advance program.