Money Management for Small Businesses

Tuesday, 03 July 2012 Written by Carlo Pandian

money-management-article

Beat the Startup Grind with these Solutions

In the business world, big businesses used to have it all their own way. Today, after a small glitch in the global economy, that seems to be changing. In addition, huge leaps in technology are making the business world far more small business friendly. Cloud computing and mobile technology have rapidly changed the way in which we work, rest and play; for small firms these changes are offering access to solutions that previously were only feasible for larger firms.

Today, the costs of running a large firm makes them less competitive during these recessionary times, while small firms can change, develop and respond more quickly. One recent development on the technology front has offered another huge advantage to small firms in terms of offering what customers want.

Payment to go

Modern consumers like choice, especially when it comes to payments. In the past, payment meant cash but today most people prefer a simple card payment option. One leading payroll software provider, Intuit, have long catered to the small business field with online accounting and desktop software. Their latest product is Gopayment mobile credit card processing, a very simple card payment solution, designed with the small firm in mind. Gopayment turns your mobile phone into a card payment system. The company provide a free attachment allowing you to swipe client’s card and take payment wherever you are. A receipt can be emailed to the client and the system operates on a pay-as-you-go basis for the business. In the past, the complexity of setting up a merchant account and the equipment needed to take payments has meant that small, particularly mobile, firms were not able to offer this kind of facility.

money-management-cultureBig Accounting Solutions

Accounting and payroll can often be a real headache for small businesses. With the exception of small accountancy firms or self-employed accountants, it’s one area of business management that is not usually the expertise of the business owner. Self-employed individuals, in particular, can often be found working late under a large pile of paperwork. An accountant is essential, but this only goes so far to take the pressure off on a day to day basis. Using online accounting software can offer a great deal of freedom for the small business. Access to your accounts is available anywhere that you have access to the web and it can be shared with your accountant regardless of the software they have installed at their own premises. Intuit offer a range of online accounting software, alongside simple solutions like GoPayment and also offer Quickbooks payroll software for those who also need to manage employees.

Securing data

There’s no doubt that accounting software is an essential tool for any business but it can be a serious timesaver for the smaller firm or individual. The online accounting systems available also offer an extra benefit for many small firms, offering secure remote storage for accounting information and ensuring that important information is well away from the occasional computer disaster. The rise of this type of technology gives the smallest of firms the biggest advantages, allowing them to work more efficiently and provide exactly what their customers want. Quickbooks payroll software and Gopayment are just two of a range of products designed with small business in mind. Offering greater flexibility for businesses they allow small firms and self-employed individuals to make the most of one of their most important assets – time.

Carlo Pandian blogs about business, technology and management covering everything from productivity tools to brand new tech start-ups. He loves reading great entrepreneurs biographies and speaking at conferences about how the internet can help small businesses.

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