Credit cards are the most popular payment method for point-of-sale transactions (39%) and for online shopping (44%). After credit cards, debit cards are the second most popular payment method for in-store (34%) and online (32%) purchases. So, accepting card payments is a must for every business. However, it comes at a cost. Credit Card Processing…
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Blind Hiring: What It Is and How It Helps Create a Diverse Workforce
Blind hiring is a process of removing any unnecessary identifying information about a candidate at all stages during the hiring process. When we review resumes, interview candidates, and make hiring decisions, we execute each step with implicit biases that can influence our final decision. Assigning someone to do an initial review and hide information like…
Ecommerce Payments and Security: Prevent Fraud & Keep Customers Safe
As an online seller, ecommerce payments and security are of the utmost importance. And with more people staying home and spending time online, cyber-attacks have actually increased by as much as 400%. So it’s more important than ever to ensure your online portals are safe and secure. What Is Payment Security? Online payment security means…
What Is ChexSystems?
ChexSystems is a reporting agency that retains consumer banking information. However, you’ll only appear in ChexSystems if you have negative bank activity like bounced checks, overdrawn balances, and fraudulent or suspicious activity. If you’ve been reported by a banking institution or retail store to the agency, it can prevent you from opening a new bank…
8 Ways to Do Applicant Screening for a Job
Applicant screening is the process of initially reviewing job applications to determine which individuals are qualified to move on to the next phase of the recruitment process. Generally, this phase begins right after candidate sourcing; and it involves reviewing a number of factors, such as the resume and cover letter, to find candidates that most…
Need Financing? Understand the Dun & Bradstreet PAYDEX Score
Dun & Bradstreet’s (D&B) Paydex score is one of the most common business credit scores banks and lenders use to consider you for business loans, credit, and partnerships. This score is based on your company’s payment history to vendors and suppliers and ranges from 0 to 100, with 100 being the best you can score….
How Much Do Small Business Owners Make?
While it’s not realistic to start a new business with the goal of becoming a millionaire, you should be able to expect a decent living. According to PayScale, most small business owners earn anywhere from $30,000 to $145,000 a year, with the average at $69,748. However, how much you make can depend on factors like…
Small Business Background Checks + Free Background Check Policy
An employment background check is a process an organization uses to verify that a person is who they claim to be. In order to avoid any misunderstanding, it is important to implement a background check policy that your company will use to outline when it is appropriate to conduct a background check and how to determine which…
The Top Places to Get an 800 Number
Many small business owners add 800 numbers to encourage customers to reach out to their customer support or sales teams. While some voice-over-internet-protocol (VoIP) systems offer free or add-on numbers, virtual number providers offer another toll-free way to route calls. We identified the top three toll-free number providers and explain why you should consider offering…
What Is Coworking?
Coworking is a simple concept: Entrepreneurs or microbusinesses share office space and equipment. Not only do they save money on leases and maintenance, but they also benefit from a community where they can learn from each other, share skills, and make connections. The concept originated in 2001 and has become a worldwide phenomenon, with many…
What Is a CRM & What Does It Do?
Customer relationship management (CRM) software is a database used to track customer activities, leads, and sales opportunities. Logging this important information provides insights on your entire sales, marketing, customer service, and finance teams, and allows you to tailor interactions to enhance relationships with your customers. What a CRM Is Customer relationship management systems are designed…
How Much Does It Cost to Start a Business?
Building a new company is not cheap, but it may not be as expensive as you think. The pandemic has had a severe impact on the economy, which has resulted in a larger pool of qualified workers looking for jobs, lower advertising rates, cheaper real estate, and less competition. Average Startup Costs for Businesses It’s…