Rampant speculation. Overvaluation. Unrealistic growth expectations. With such language being used to describe current market conditions we can’t help but wonder – are we headed for another Dot-Com bubble? Read more
Banks have been in the news recently for their unwillingness to give loans to small businesses. Just how bad is the small business loan market? The infographic below speaks for itself. Read more
At FeeFighters, we help many of our customers in the restaurant industry save money on credit card processing. It’s an interesting industry we wanted to learn more about, and in our research we found all this fun stuff that we put into an infographic!
We were surprised to learn that people spend $1.7 billion *each day* in US restaurants and that they employ about 10% of the workforce. We’ve heard that 90% of restaurants fail during the first year, but the real number is actually 26%!
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With all the talk of small businesses driving job creation and helping the economy recover, we at FeeFighters were curious exactly how much of the American economy small businesses represent.
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It seems as simple as sliding a credit card through the terminal and signing a slip, but what actually happens behind the scenes is a pretty intricate process. Information flows through many different channels, so take a look at this infographic to get a behind the scenes look at what happens when a credit card is swiped… (or information is entered for online purchase).
It’s a word thrown out often, but what exactly is interchange? To put it simply, interchange is the largest portion of fees which merchants pay to accept credit cards. When a credit card is swiped, there is a set of fees associated with the transaction; interchange represents the bulk of these fees, and goes to card issuing banks to pay for their services.
Each transaction is classified into one of the hundreds of interchange categories (see a sample here). How the transactions are classified is pretty complicated, and depends on a number of questions regarding the details of the transaction. Click on the infographic below to learn more.
In my last post I talked about why you should leave your corporate job and join a startup. In this post I want to talk about how you can get a job at an awesome startup like FeeFighters.
Outright, online accounting software for small businesses, seeks to streamline business accounting. How are they different from other business accounting sites? Let’s take a look.
Lots of times FeeFighters users ask us what a personal guarantee is and when/why they have to sign on. This week’s kick addresses that issue as Sean talks the basics on personal guarantees.
FeeFighters recently spoke at a utility conference about how its participants can save money on credit card processing. After analyzing one of the participants’ credit card processing statements, we realized they could save 25% or about $30,000 annually on their credit card processing fees.
Last week, I had the pleasure of speaking at the Extreme Entrepreneurship Tour. My task: inspire students to consider becoming entrepreneurs. One of my pieces of advice was to expand professional social networks by joining LinkedIn.
We were having lunch with our friends Sunir and Mike from Freshbooks, and Sunir mentioned the event SOBCon. I had no idea wtf he was talking about, but he then explained that SOB stands for Successful Online Business.
By the time we talk to business owners, many have been burned by a credit card processor. They reach out because they have been lied to, promised lower rates, and altogether feel cheated.
Many business owners in these uncertain times are looking for a way to turn around their flailing businesses.
We had a great time submitting, organizing, and speaking on our panel on financial institutions and startups. Here are some photos from the event and a great summary from moderator Felix Salmon:
I was reading the New York Times, learning from Thomas Friedman about the myriad of Islamic uprisings that are about to occur and I was presented with the attached ad.
