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Business fraud is on the rise. The Federal Trade Commission reports nearly $8.8 billion in losses during 2022, up from $6.1 billion in 2021. Business fraud lawyers can help you if you’ve been the victim of fraud. But your best defense is to reduce the risk of fraud before it occurs.
The following tips can protect you and your customers from scammers and other forms of business fraud.
Business owners face an uphill battle. In 2023, business owners continue to fight against rising overhead costs due to inflation, an ongoing labor shortage, and rising interest rates. A 2022 Goldman Sachs survey found 91% of business owners struggled with economic instability and concerns over inflation. While the economy has seen marginal improvements, many economic experts predict at least a “mild recession” in the latter half of 2023.
This makes financial planning for a business start-up or a well-established organization even more critical until the economy stabilizes and recovers. Financial planning allows your business to remain agile and resilient in the face of these challenges. The following tips can allow you to make the most of 2023 and empower you to thrive in any economic climate.
Did you know four out of five (80%) consumers prefer to complete transactions with a card instead of cash? If this statistic does not get you rethinking your cash-only policy, the benefits and statistics we reveal below certainly will.
Deciding on the necessary products and services that can help your business operate more smoothly is a crucial step toward business success. Establishing a merchant account is an essential stepping stone that can help you along the way. A merchant account is a type of business bank account used to handle electronic payments. It serves as an intermediary between a customer’s bank account and your business’ bank account. As consumers rely more on electronic payments and less on cash or checks, your business needs to provide the most convenient and reliable payment options offered by a credit card processor.
