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Michael Hollis Blog Posts

By First American Merchant

Feel free to give us a call for more info 1-800-210-5649

Top 4 Accounting Software for Small Business Owners in 2021

When you planned on becoming a small business owner, your thoughts were likely filled with your big idea, the people you hoped to surround yourself with, where to open your shop and how to reach your customers. To this day, the last thing you likely want to spend time on is accounting. But understanding your finances is critical if you want to ensure your business continues to run smoothly. To lessen some of the burdens, there are many software options that can help you automate all the tedious tasks you wish to avoid. Below, you will find a list of […]

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6 Tips to Help Your Struggling Business Get Back on Track

Owning and operating a small business has always been challenging. From insufficient cash flow and poor business practices to a disengaged team and no customers, there are many reasons why a business might find itself on the road of no return. Regardless of the cause, if you’ve found yourself on this path, it’s time to get some guidance. You’ve now started the real test of entrepreneurship: the ability to make it through tough times – and we are definitely living in a time of uncertainty and obstacles. If this year has left you with a struggling enterprise, here are six […]

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The Right Payment Solutions Can Help Your Business Scale

When most small business owners look at payment processing, they’re thinking of it as a line item on their operating budget. Something that must be checked off of the list, a necessary part of doing business. Yes, it does have a big impact on revenue, but it is so much more than that. Good payment processing can help your business grow. In fact, payment processing should be a big part of your overall growth strategy. More payments obviously mean more revenue for your business, but if used correctly, it can actually help your business scale strategically over time. The key […]

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Quick Financing Options for Small Business Owners

You encounter the real money challenges of running a business when you’re short of finances and in a tight situation that threatens to halt operations on your premises. Business financing is your safety during such times, and the quicker it comes, the faster you can fix the situation before it escalates into tragedy. So what are some of the fastest ways to get commercial funding to survive unexpected business expenses like equipment breakdowns, a pandemic, cash flow problems, or funding sudden growth opportunities? Invoice Financing Invoice financing is acquiring finances in exchange for your pending invoices. A business can finance […]

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Improve Your Cash Flow For Your Business

Cash flow is a growing concern among small businesses struggling to survive through a challenging economy. And because such times are purely dependent on proper cashflow management than profit generation, you want to try as much to improve the flow of money in your business. Below are some tips to monitor the inflow and outflow of your business:     Use Invoice Factoring Instead of Taking Out a Loan Try invoice factoring instead of seeking bank loans. Invoice financing is acquiring finances in exchange for your pending invoices. This is an excellent way to get access to the working capital […]

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PPP loans That Were Not Prioritized | Underserved Small Business Markets

In the crescendo of the pandemic, as businesses struggled to stay afloat despite tough economic times, most hoped the federal relief packages—the Paycheck Protection Program (PPP), in particular—would come to their rescue. But that wasn’t the case, according to KB and Katie Brown’s print business in Minneapolis. Even after applying with three lenders, they never received any Coronavirus relief loans disbursed between April and August. “It just doesn’t seem like the program was built to support small businesses,” lamented KB Brown, who is witnessing small companies in his Black-dominated and low-income communities suffer to their closure. “It’s bullshit.” Congress’s instructions […]

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Are Unpaid Invoices & Customer Debts Slowing You Down?

Monitoring and maintaining cash flow is an essential part of running a thriving business. Unpaid invoices and bad debts can lead to a business’s downfall. You need money to maintain operations, replenish stocks, and so on. A slight delay in cash flow can cause financial constraints and interrupt activities. The ongoing pandemic has further resulted in many cash flow hitches. Firms are struggling to stay open. And to counter these challenges, businesses have begun paying closer attention to cash flow issues by prompting their clients to pay on time.   A business is more likely to reduce bad debts by developing […]

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The Consequences of a Bad Credit Score to Your Business

A good credit score is a pivotal factor for businesses that want to acquire loans. Most businesses usually need additional funds to invest, thrive, and expand their reach. During such times, your credit rating may determine the lender’s decision.  What Leads To A Poor Credit Score?  A low credit score can be a result of various factors. For example, failure to cultivate your credit when the business was developing, financial struggles, or low revenue incomes. One must first learn the roots of their poor credit score to fix the issue. Lenders typically use details about your FICO ratings, which is […]

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Prepping Your Restaurant, Pub or Bar to Thrive in the Post-Pandemic Era

Restaurant and pub businesses have long suffered under a year-long pandemic that seems to be commencing a second wave. The business environment has revolutionized so much that failure to notice the ongoing changes is almost bottom-line threatening. Now, brands in these sectors must make a complete transition from where they seek commercial funding to how they search, attract, and serve customers. According to a July poll by UK’s Food Standards Agency, 31 percent of consumers admitted they wouldn’t eat at a restaurant “for the foreseeable future.” That result marks a significant increase from June’s 25 percent.  Consumers are gradually switching […]

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Using Tax Relief to Your Advantage When Loans & Investments Take the Wrong Turn

What do you do when investments take the wrong turn and irrecoverable loans threaten to ruin your financial bottom line? Most people hardly think of tax relief, yet this is one of the best ways to recoup from such financial problems. COVID-19, for instance, has presented unprecedented financial challenges to businesses. Even the different relief programs and alternative sources haven’t held the fort for business owners who weren’t prepared for a sudden economic recession. If a business winds up in a catch-22 where it has to permanently reconsider its size and type of dealings – or quit the business altogether–many […]

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