Merchant Cash Advance Blog

What is a recession? The technical definition of a recession is when there is a decline in GDP for two consecutive quarters in a row. Generally, a recession happens when consumers and businesses lack confidence that things will remain good long-term and tighten their belts, spending less money. So how can you make sure that your business can handle an economic downturn? Here are a few ways to recession-proof your business.

Restaurants and retailers have learned dozens of lessons from the challenges of the past few years. Whether it was the pandemic, supply chain delays, hiring shortages, or inflation, business owners had to find new and creative ways to navigate consumer spending cuts. One positive lesson learned is that gift cards are an excellent way to boost merchants' revenue during tough economic times.

With dietary restrictions for those that need to or choose to eat a vegan or vegetarian diet, it can make it hard to eat out, and some of the options that are available are less desirable than one might hope. For this reason, you can expand your customer base and guarantee return customers by offering delicious vegan and vegetarian options. So, where do you start? Here are a few important factors to keep in mind when offering vegan and vegetarian options.

There is an important statistic every business owner should know - it costs 7 times more to acquire a new customer than it does to keep an existing one. But it’s not only the cost to consider. You can't understate the value of developing solid customer relationships.

For more than a year, small businesses have struggled to fill open positions. According to a new survey from the Alignable Research Center, roughly 45% of small businesses are putting hiring on hold due to higher salaries, inflation, and the fear of recession.