For entrepreneurs looking to grow their business and better manage their cash flow, Maoloni offers the following ways Interac products and services can help your business:
- Incorporate Interac e-Transfer® into your business operations. Simplifying and streamlining business payments will ultimately save your business time and money. While Interac e-Transfer was originally developed as a person-to-person network, recent new features like Autodeposit and Request Money opened new ways for micro-businesses and side hustlers to use the service. Additionally, Interac e-Transfer Bulk Disbursement allows businesses to send bulk payments in a streamlined, secure and cost-efficient way in a single file upload from online or mobile banking.
- Provide a smooth payment experience for customers. Satisfied customers are repeat customers. With Interac e-Transfer Request Money, your client doesn’t need to enter the amount of the payment, that’s already done for them. And they can fulfill the payment immediately from their phone, depositing the money directly into your bank account.
- Adopt smart savings and cash flow strategies. The survey found that 54 percent of entrepreneurs carry personal debt to fund their business. While it can be tempting, this is not a long-term solution to keep your business afloat. Features like Interac e-Transfer Autodeposit and Request Money are based on a good funds model and can inject money back into your business almost instantly to help you better manage your cash flow in order to grow your business.
- Leverage government assistance and services. Federal and provincial governments offer many types of assistance for entrepreneurs. A good place to start is the federal government’s website An Overview of Services for Small Business. The site features advice and information for entrepreneurs on financing, growth planning, business essentials, tech and digital strategies, and other topics. The federal website has an interactive program that lets entrepreneurs see what funding programs or government grants may be available federally and provincially to support their businesses.
About the Survey
Interac Corp. commissioned Environics Research to conduct a national online survey of 802 Canadians aged 18 years and older. Responses were collected between March 6 and 26, 2019. In order to qualify for this survey, respondents had to identify themselves as self-employed, non-subcontracted side hustlers or micro-business owners (five or fewer employees).
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