If you're self-employed or manage a company of just a few other people, you probably think of yourself as a small business owner, a member of the all-important SMB class. However, if you look closer you'll find that the government includes organizations far larger then yours in its definition of a "small business." In fact, the U.S. Small Business Association will typically include any non-industrial company with fewer than 100 employees as an SMB. Although you both fall under that umbrella, your independent consultancy or online store likely has little in common with a company of 90 people that makes a few million dollars in annual revenue.
To answer for this discrepancy within the SMB class, Observer author Shir Magen defines a new category - the "extremely small … more
For suppliers who don't accept commercial card payments, the reasons for resistance might seem straightforward: Your customers don't seem to mind, and you get to avoid paying interchange fees. While it may appear simple on the surface, this "if it ain't broke don't fix it" mentality can end up costing wholesalers considerably.
In fact, making the switch to accept commercial card payments can open new doors for B2B companies. Here are three reasons every wholesaler should start accepting purchasing cards today:
Faster payment cycles Unlike paper checks, card payments can deposit to a merchant account much sooner. No longer forced to wait weeks or even months for invoices to paid and cash to hit their accounts, accounts receivable departments gain unprecedented flexibility. … more