Edison Business Advisors’ Post

10 considerations for your small-business credit card strategy

10 considerations for your small-business credit card strategy

10 considerations for your small-business credit card strategy

10 considerations for your small-business credit card strategy

10 considerations for your small-business credit card strategy

10 considerations for your small-business credit card strategy

Contracts with tiny 7pt-9pt text are often hiding important details. ⚠️ Seldom are merchant contacts to a merchants’ advantage; processors stand to gain the most from them. Many are mistaken in thinking their merchant contract guarantees a promised rate will stick. The fine print in most contracts say, a notice on the month’s prior statement is all that is needed to increase merchants’ rates. Unfortunately this is legal/common. Merchant contracts are leveraged against owners so they will stay vs. switch providers, satisfied or not. Often cancellation policy exists, so a fee to leave exists. This fee may be $200 - 400. Yet I’ve heard this fee as high as $4000 The worse fee was all the processing fees the processor anticipated receiving, per its estimated volume, during the entire contract. This shocked me too. 😱 Did you know merchant contracts often auto renew? Contracts, in their fine print say, if you don’t notify them in writing of your wish to cancel within 30 or 60 days of the expiration it auto renews for ‘x’ time. Unaware of this, many feel stuck in it for another 2-3 years (or whatever time frame you originally agreed to). Owners who they don’t like their processors’ service OR they’re upset with rate increase(s) feel trapped in these contracts. Staying stuck is often unnecessary, most of the time, I can help save a business far more than their fee to cancel upon switching service. If your business wants to do cash discounting or dual pricing, it’s a 💯 guarantee you could save whatever amount you currently pay, excluding their cancellation fee. These pricing options are popular as owners are tired of eating fees that don’t produce the product or service they sell. Let’s Shine A Light On Our Mutual Interests! I got you❣️😊✨

Your guide to the Chase Ink Business credit cards

Prompt payment discounts have become an effective tool for businesses looking to improve cash flow, reduce outstanding invoice periods, and strengthen customer relationships. 🔗 In today's article, we explore prompt payment discounts and consider how often your business should use them: https://lnkd.in/eRAbx2qU. #B2BE #promptpaymentdiscounts #promptpayment #earlypaymentdiscount #dynamicdiscounting #invoicing #supplychain #supplychainmanagement #business