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Business Advice Blog Posts

By First American Merchant

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

3 Ways Small Businesses Unintentionally Fall into Debt

Running a successful business involves an interesting combination of risk, sacrifice and discipline. From time to time, it requires investment to see improvements. At other points, it means giving up something in the pursuit of something bigger. Above all, it demands discipline to achieve your ultimate goals.  Of course, one of the biggest risks for a business – whether a startup or an established company, is debt. Choosing to take on debt to secure much needed capital can be a smart decision, as long as you have a plan and capability to pay it back in a timely manner. However, […]

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9 Common Financing Mistakes to Avoid

Are you a startup founder? You might be faced with the common challenges all starters come across on their way. Avoiding financing mistakes is critical to your success. Let’s discuss several top mistakes that you should sidestep so not to fail in the early stages. Also, let’s see where you can find reliable and cheap startup lending in case you need access to additional working capital while growing your business. Common Financing Mistakes & Startup Lending  Did you know that 2 out of 10 startups fail in their 1st year, as the Bureau of Labor reports? Starting up isn’t easy, […]

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Tips to Defeat Ransomware

How to defeat ransomware? This is a question that you, as a merchant, must be interested in, mustn’t you? If your data gets stolen, you should be prepared for the worse and take the right measures to save the situation. The below article is about what you should do when faced with ransomware. Also, it’s about a reliable and experienced merchant funding provider in case you need access to additional working capital.  Ransomware Attacks & Issues With Business Funding Ransomware isn’t something new, only it’s now more widespread. Today, cybercriminals are more sophisticated and they go on mastering their skills […]

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Minorities Claim It’s Harder To Launch And Grow A Business

According to a report by the US Federal Reserve, less than 47% of loan applications filed by African American business owners are approved. It was also found that more than 50% of companies owned by African Americans were actually rejected for business loans.  Although “black-owned firms” were more likely to seek financial help from banks, less than 47% of these applications were “fully funded”. Even more surprising, when black business owners did get approved for a business loan, the “rate of failure” to obtain financing in its full amount was the highest in all categories, exceeding 10%.  The rejection of […]

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Pandemic Pushes More SMBs to Truly Digitize Workflow

While this year has been surrounded by uncertainty, one thing is for sure: businesses both large and small are migrating to the digital world. It’s true, digitizing documents is key to optimizing workflows. However, when it comes to the procure-to-pay space, not all digital invoices and purchase orders are the same. First of all, what is procure-to-pay? If you’re not familiar, procure-to-pay is the process of integrating purchasing and accounts payable systems to create greater efficiencies. So, why haven’t businesses made this shift already? Many small- to medium-sized businesses (SMBs) struggle to move to the digital world because they still […]

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7 Tech Companies Boosting and Fueling the Creator Economy

For many years, “big media” controlled entertainment and the news. Just in the past decade, this has all shifted. What most of us read, view and listen to is no longer focused on a small number of companies. We now find ourselves in the middle of the era of the creator economy – a stronger economy. What is this creator economy? This term refers to individual creators like artists, podcasters and YouTubers. These individuals have achieved success by building a business around their personal brand and connecting directly with their audience. This has all been made possible through easy-to-use consumer […]

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3 Key Steps to Applying – And Getting – a Business Credit Card

Could your business benefit from utilizing a business credit card? In addition to providing access to cash flow and financial flexibility, a business credit card also helps you better separate personal and business expenses, boost your credit rating and earn business perks like discounts and rewards. You might be wondering how the process works, how to apply and how hard it is to get one. It’s true, it does involve some research and gathering the correct information. However, in preparing beforehand, you will significantly speed up the process and ensure you’ve chosen the right card for your business. Are you […]

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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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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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