“Sharing” companies are hitting the market fast and furious. While these companies can benefit the public greatly, many in the business world are worried about the effects these companies will have on their own businesses. While business owners have a right to worry, there is another downside to “sharing” businesses that the Feds may be interested in.
While tourist-heavy locals tend to have mass transit and taxi services, the influx of ride sharing companies, such as Uber, has caused travelers and locals to use this sharing service instead of the good ol’ subway or Yellow Cab. The problem doesn’t only come with the lost business of the MTA and Yellow Taxi vendors, but also the lost tax money that goes to the city, county, and state. Most ride sharing companies, such as Uber, have found loopholes when it comes to paying taxes, so the local economy suffers even more. That being said, this is big business, and even if it causes some cities and states (namely NYC and Nevada) to try and limit ride sharing services, they are still operating, albeit sometimes not totally legal.
So, what can you do if your business is being messed up by “sharing” companies? Well, first off, don’t panic! Only time will tell if these companies are fads, and will fade quickly. While the current climate doesn’t look like it, it only takes one piece of legislation or allegation to collapse an industry. Do not give up on your industry, and do not waiver. Your customers love you because of your products and customer service. However, while you shouldn’t cave, there may be things that you can do to advance your company. For this, you need extra funds. Instead of looking for a loan, you need to look for a small business cash advance. This is also possible for companies with bad credit, though it can be harder to locate a small business cash advance for bad credit businesses. It is possible, however, and companies like FAM are available to help you obtain a small business cash advance quickly, and without the paperwork hassle of a traditional loan.