Category: Small Business

Types Of Card Payment Machines For Businesses

Since there are lots of options at your disposal, choosing the best card payment machine for your business can be a bit time consuming and confusing. If you are having similar experience, we suggest that you use our tips. In order to make your selection easier, you should first understand the various types of machines. By comparing different machines, you can determine the type of card terminal that will be the best for your business. Read on.

Things to consider

First of all, you should consider the products you deal in. Secondly, you should consider the location of your sale points. Thirdly, you should take into account how your customers are going to pay you. Will they pay you in person or through the Internet? Once you have taken into account these things, you should consider the types of card machines. Given below is a description of different types of machines.

Countertop Card Machines

As far as popularity goes, countertop machines are on top of the list. As a matter of fact, these machines work from a fixed point like a reception desk or a shop counter. So, you can’t move them from one place to another. As a matter of fact, these machines can work well through dial-up or your DSL connection. Moreover, you can use them with a tiny footprint without any problem. Another great thing is that they can be installed on any countertop. Usually, this type of machines are used by high street shops, cafes, hotels, restaurants, and newsagents. So, if you run any of these businesses, you should opt for this machine.

Mobile Card Machines

Another great alternative is mobile card machines. The beauty of these machines is that they feature a SIM card just like a regular mobile phone, which makes them an ideal choice for businesses that are mostly on the go like market traders, delivery services, plumbers, electricians, takeaways and photographers, just to name a few.

If you want to use this type of machine, make sure you have a phone signal. Latest machines are compatible with a smartphone app along with a quality Bluetooth chip as well as a PIN keypad.

Portable Card Machines

If you are not always at the same place, we suggest that you give a go to a portable card machine. The great thing about these machines is that they can be taken to the users for making payment. But the catch is that these machines will work within a specific radius.

Portable card machines are popular in situations where the customer is not always in the same spot, so the card machine can conveniently be taken to them for payment. The portable card machine will operate within a certain radius of its base unit, which connects to your phone line or internet connection like a countertop card machine.

So, if you have been looking for the best card payment machine for your business needs, we suggest that you check out these three types and go for the right one.


5 Steps to Retire From Your Business With Confidence

As a business owner, you’ve poured your time and energy into making your company successful. But how much thought have you given to what will happen when you relinquish this role? Sooner or later, you will step down and hand the reins to someone else. Even if you intend to work for many more years, having a well-defined path can help you develop peace of mind as you enter the next phase of life. Looking ahead allows you to anticipate future opportunities and challenges, as well as give you time to create financial contingency plans that improve your prospects down the road. Here are five ways to constructively think ahead.

1. Decide what the future looks like – for you and your business

What would you like the next chapter of your life to be? Whether it’s starting another business, dedicating time to volunteer or visiting countries on your bucket list, your goals and dreams will be in better reach if you take the time to articulate them.

Next, think about what you desire for your business when you leave the helm. If you want your company to continue after you’re gone, then it’s important to groom future leaders. A succession plan can help you avoid potential gaps in the chain of command and make your company more attractive to prospective buyers. Even if you choose to shut the doors, you’ll want to think about how to best wrap things up with vendors, customers and clients.

2. Assess your retirement savings

After you’ve identified the goals and dreams for you and your business, focus on planning the details of your retirement. You know from being your own boss that you need to have a strategy when you want to achieve specific goals. First and foremost, it’s important to have separate retirement savings as you plan a future that’s independent of the business. Pouring every dollar that you make back into your business is not a retirement plan. Even the best intentions can be thwarted if something unexpected happens.

When you have a retirement savings account in place, commit to making regular contributions. Start as early as you can and consider increasing your contribution as you get closer to retirement age. Enlist the help of a financial advisor to ensure your retirement plan is robust enough to finance your transition and maximize your retirement.

3. Calculate your retirement expenses

Knowing that your savings are enough to cover the lifestyle you want in retirement may help you step away from the business with more confidence. Project what you expect to spend, including any anticipated housing, healthcare, taxes and lifestyle expenses. If you are still years away from retirement, use your best estimate and tweak your projections as you approach your golden years. Compare your expenses to your savings to get a sense for your financial readiness.

4. Consider what income you may receive from selling or passing the reins

This is where you figure out how to optimize a key piece of your nest egg. Do you cash out in a lump sum or negotiate a sale over time? If you’ve built a business that hasn’t reached its full potential, you may be reluctant to sell and forego future profits. You might consider bringing in new leadership to manage day-to-day operations while retaining your ownership stake. If you don’t think you’ll be able to sell your business (which is sometimes the case for sole proprietors who themselves represent much of their business’s value), identify business assets that can be liquidated to generate cash on your way out.

5. Prepare for the non-financial aspects of retirement

Expect to feel some emotions over the transition. Stepping away from your business can be tough, especially if you put considerable time, effort and money into creating and growing the business. Know that it will take time for you to settle into your new life in retirement, and that’s okay. Having a plan will likely help you feel more confident about your new direction.