More than 80 percent of the U.S. population regularly shops online. No matter what type of business you run, whether you have a brick-and-mortar location or a business that only exists virtually, you must be able to accept and process online payments. If you do not offer a way for your customers to make online purchases […]
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You can’t start a business without money, and you certainly cannot keep it running if you are low on cash. When businesses are short on funds, they tend to take out loans from banks and traditional financial institutions. However, working with a bank for a loan may not be the best option for businesses as
Like many other types of businesses, restaurants thrive when they can effectively market to new customers and generate a strong stream of repeat customers. If you want to attract and retain customers for your restaurant, you should consider adding gift cards and loyalty programs to your marketing strategy. Implementing a gift card program benefits restaurants
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The nutraceutical and supplements industry is a fast growing industry in health and wellness. The global nutraceuticals market was worth an estimated $454.55 billion in 2022, $112.6 billion in the U.S., and it is expected to continue growing at a compound annual growth rate (CAGR) of 9.0 percent. At this rate, the global nutraceuticals market
Starting a business and growing it into a success is part of the American dream. Business owners that found and run successful businesses get to be their own boss and create jobs for others with a chance to make an impact within their industry. However, all businesses must start from somewhere and they need reliable
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Debt is a common feature of our economy as so many Americans carry some form of debt. Whether the debt is due to credit cards, student loans, medical bills, or something else, the parties that people are indebted to will be seeking repayment. Typically, this is done through a collection agency. Collection agencies act on
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The travel industry is one of the largest industries in the world as it accounts for just over 10 percent of the global GDP. This industry employs more than 300 million people worldwide and millions of people travel each year for a number of reasons. In fact, the growth of the travel industry around the
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The tobacco industry has long been a lucrative industry not only in the U.S., but throughout the world. Even with a 7 percent decline in tobacco customers between 2005 and 2019, the tobacco industry was still worth $48 billion in 2019 and is expected to remain steady. For businesses that sell tobacco products including cigarettes,
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There are so many businesses in a number of different industries that rely on the internet for attracting new customers and growing their business. Businesses with websites that rank high in the search engine results pages and have good online visibility will get the attention of those searching for their products and services and convert
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The alcohol industry in the U.S. is worth more than $220 billion which makes it a very lucrative industry. There are several types of businesses within the alcohol industry, including liquor stores that sell hard alcohol as well as online alcohol retailers. Getting merchant services may be difficult for these businesses because despite the amount
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The firearms and ammunition industry in the U.S. is extremely profitable. There are an estimated 100 million gun owners in the U.S. and the industry generated more than $63 billion in revenue in 2020. However, despite the fact that the firearms industry is a billion-dollar industry, most major banks and financial institutions refuse to provide
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Adult entertainment is a lucrative industry in the U.S. Gentlemen’s clubs alone are a $7 billion industry, not to mention other adult entertainment businesses such as adult novelty stores, pornography merchants, lingerie stores, live camera models, adult dating, and more. Even though the adult entertainment industry is a thriving industry, many of the businesses within
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See how First MCS can help you with a merchant account for your cannabis business Cannabis is one of the fastest growing industries in the U.S., but it is illegal in most states. While it can be legalized at the state level, it currently remains illegal on the federal level which creates a few complications
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No business can run properly without partnering with a financial institution to create a merchant account. All payments taken by a business are processed through a merchant account and after the processing fees are deducted, the money goes to the business checking account. For most businesses, finding a financial institution or bank to set up
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For the last several years, there has been a worldwide shortage of computer chips, also known as integrated circuits or semiconductor chips, and this shortage has affected over 170 industries. The shortage started before the COVID-19 pandemic and has been made worse by many different factors including the pandemic, severe weather events, trade wars, and
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No business likes to pay the processing fees that come with accepting credit cards. For businesses that run on a tight budget, this expense may be too difficult to handle. However, not accepting credit cards as a form of payment is also detrimental to a business as most transactions are paid for by credit cards.
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