per swipe-fee at 10 cents for all transactions. If you are unable to negotiate lower rates, you also can investigate switching processors. Getting a better interest rate : In the world of business banking, interest rates for savings accounts are notoriously low-in some cases as little as 0.3%. Additionally, you may not be able to get any interest on a checking account. As a business, we often have reserve funds for unexpected expenses or future investments. We also may have special accounts associated with travel. For our personal investments, we look to maximize our interest and investment return. As a small business we should be looking to do the same, especially when we are seeing higher interest rates. A first step in achieving a better interest rate is to approach your bank or financial institution and investigate their options. RETAILING continued
You may be able to take advantage of money market funds or short-term certificates of deposit. It may take some negotia- tion, as banks normally only offer the higher rates for transfers of “new money” to the institution. Be persistent. I was able to negotiate a rate increase from 0.3% to 3.0%. If, however, your financial institution doesn’t budge, don’t be afraid to in- vestigate other banks with better deals and make the move. Final Thoughts : As a small business, we need to control our expenses and look at all levels available to improve our cash flow. Some other areas to investigate include: Utilities, In- surance and Cash back programs.
We can anticipate more change and uncertainty in the future, and watching your wallet will be as important as ever.
email Jeff
Top Press Releases From This Month – by Scott Jones, President, Dive Newswire Press Service
DiveNewswire is the dive industry's WEEKLY dedicated news release and feature distribution service. Founded by Scott D. Jones in 2001, DiveNewswire continues to serve the dive industry with news releases, announcements and timely in- dustry-specific features each week targeted specifically for dive industry professionals. For more information, send an email to EDITOR@DiveNewswire.com or call 714-931-4895. Scan or click on any of the QR codes to see the full releases.
Scott and son, Stephen
DAN Launches The DANcast, a Podcast To Inspire Better, Safer Diving
Buddy Dive Bonaire Unveils 2025 IDC Schedule
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Dive Pros Invited to Join AMTECS Profes- sional Diving Resource Community
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