Keeping Your Small Business Profitable During the Pandemic

According to Yelp’s Local Economic Impact Report from September 2020, nearly 100,000 small businesses have permanently shut their doors due to the pandemic. With so many businesses struggling to maintain their profits, it’s important to evaluate your business and determine which areas you can improve. To assist you, we’ve compiled a quick how-to guide for keeping your business successful during this national crisis. Keep reading for some helpful tips! 

Stay Updated on COVID-19 Recommendations

As the COVID-19 pandemic evolves and health organizations gather more insights about the virus, workplace recommendations are constantly being updated. A fantastic location to find up-to-date COVID-19 recommendations for your business is the Center for Disease Control (CDC). They have put together a list of resources to help businesses and their valued customers stay safe during this unprecedented time. Additionally, they have free, printable posters that you can post around your business to ensure everyone is staying safe. 

Utilize the Right Payment Solutions 

An easy way to save money is to take advantage of payment solutions designed for your unique business needs. FlashBanc offers a variety of payment devices, online payment platforms, customer loyalty programs, and smart point-of-sale solutions that you can pick and choose from to create your perfect payment process. We offer our cutting-edge payment devices at wholesale prices and have highly competitive rates for our credit card processing fees. The best part? If we can’t reduce your payment processing fees, we’ll write you a check for $250! As for our comprehensive point-of-sale solutions, we offer software applications that can help you manage your inventory, optimize your workforce, delight your customers, track revenue, generate insightful reports, and so much more. If you’re interested in learning more about how we can help your business save time and money, please reach out to us. 

Make the Most of Social Media

The beauty of social media is that it’s free, highly effective, and easy to learn and use. If your business doesn’t have a social media presence yet, we highly recommend changing that! Facebook, Twitter, LinkedIn, and Instagram are all amazing, free platforms you can use to communicate with your clients, attract new customers, promote your brand, and make sales. If your business already has a social media presence but would like to increase your impact, consider increasing your posting frequency to 3 to 4 posts per week. Frequent and consistent posting will help you stay at the top of your customers’ minds, which means that when they go to make a purchase, they will likely think of your business first. You might also want to consider running a social media giveaway, like a sweepstakes or a repost giveaway. These promotions can help you get more followers for your social media accounts and increase online engagement with customers and potential customers. 

Get Help When You Need It 

Everyone can use a little help during this tough time, so we are proud to be able to offer business owners cash advances of up to $300,000. Unlike applying for a regular bank loan or relief funds through PPP, our Merchant Cash Advance Program offers high-approval rates, quick funding, and no business-use restrictions. Whether you need funds to purchase more inventory, perform renovations or remodels, pay your employees, fund marketing campaigns, pay taxes, or cover unexpected expenses, FlashBanc is here for you. If you are interested in applying, please contact us today! Our application form is simple and it will only take you a few minutes to complete. 

Keep a Positive Attitude

This last tip might seem obvious, but it’s probably the most important thing you can do right now. During this extremely hard time, it can be tempting to start thinking negatively about your business and questioning whether your organization can make it through this crisis. While we are undoubtedly in a dark part of history, it’s important to remember that there are countless resources out there to help you make it through this rough patch. You can seek help from your family members, friends, financial institutions, FlashBanc, small business associations, or the government. In order to make it through this pandemic, we all need to maintain a positive attitude and help each other out. 

How Can We Help?

If your business needs help, FlashBanc is here for you. Please contact us today and one of our representatives will reach out to discuss how our payment solutions can help your business save money and better serve your customers.