Having a strong paternity leave policy in place will notify employees of their rights for leave and pay as well as keep your business compliant with federal, state, and FMLA laws. A paternity leave policy that is part of your company handbook and paid-time-off (PTO) leave policy will state leave options and expectations clearly for…
What is
What Is Equipment Financing: Loans vs Leases
Equipment financing allows business owners to acquire business-related assets, spreading the cost over a longer period. Financing can come in the form of a loan or a lease. Loans allow business owners to retain ownership of the equipment once the balance is fully paid, whereas leases can provide options for returning, upgrading, or purchasing the…
What Is a POS System & How It Works: Small Business Guide
POS systems can do much more than enable you to accept payment from in-person customers; they can manage inventory and employees, create reports, support marketing campaigns, and more.
A point-of-sale (POS) system is the combined software and hardware that manages purchases, returns, and exchanges for in-person transactions. The best ones also include inventory management, customer relationship management (CRM), analytics, and other functions. There are many different types of POS systems, from apps to self-service terminals. While typically located at your cash wrap, a…
Retail Security: Definition, Tips & Benefits
Creating a store that is safe for your staff and secure for your products is an important part of managing a retail store. And that’s just the physical storefront. Today, most brands also operate an ecommerce shop and have to take steps to protect their site from data breaches and cyber-attacks. In this guide, we…
Shopify Magic: Guide to Shopify’s Free AI Tools
In Shopify’s latest feature release, artificial intelligence (AI) took center stage. So much so that Shopify rolled out a whole suite of free AI-enabled features that are integrated across Shopify’s products and workflows. Known as Shopify Magic, these AI-enabled features are designed to make it easier for the small business owner to start, run, and…
What Is the Loan-to-Cost Ratio: Formula & How to Calculate
The loan-to-cost ratio (LTC ratio), is calculated by taking the loan amount of a commercial mortgage and dividing it by the property’s total project costs. Project costs can include things like the purchase price, renovation costs, construction costs, and other related expenses incurred as a part of completing the improvements or repairs. The LTC ratio…
Business Prepaid Card: What It Is & How It Works
A business prepaid card is a type of card that needs to be loaded with money before you can use it to make purchases. It helps you set a limit on your business expenses and not worry about the interest rates and penalty fees associated with a small business credit card. Our best business prepaid…
What Is a Portfolio Loan? Types, Rates & Terms Explained
A portfolio loan is a mortgage loan that a lender retains and does not sell on the secondary market. Since it is never sold to another investor, a lender has more control over the eligibility criteria it deems acceptable. This makes a portfolio loan a good option to consider if you do not qualify for…