2M7 Announces 2022 “Forward Thinkers Scholarship” for Business and Finance Students in Canada

The business world is evolving and new small business trends are emerging. Which ones should small businesses adopt for 2020? These seven trends are great contenders.

Embrace Social Media Storytelling

Social media is everywhere these days. With the rise of Facebook Live and Instagram stories, everyone wants video content. Tell your brand’s story with a creative mix of social media.

Think Green and Social

Today’s customer wants to buy from a company that shares their values. Think about a green initiative like reducing waste or adopting biodegradable packaging. Social causes are also popular.

Learn to Leverage eCommerce

eCommerce is finally hitting its stride. Traditional retailers are getting in on the act. Create a great website for your small business and watch your profits soar.

More Technology to Do More

Technology is driving eCommerce, but it’s also driving other parts of your business. Think about how automation could help you keep the books, conduct payroll, and so much more.

Make Your Employees Happy

Businesses today are investing more in their employees. Employee happiness improves productivity and the bottom line. Think about training and development initiatives or a wellness program that will keep them moving.

New Marketing Trends Will Dominate

Digital marketing has finally surpassed traditional marketing. New digital marketing media continue to emerge as well. Think about the rise of voice search or the popularity of audio streaming services as you plan your next campaign.

Personalize Customer Service

Finally, small business owners must realize the importance of customer service. Deliver personalized service to every customer, and you’ll win their loyalty.

Get the Funds You Need

Any of these initiatives could be a big financial undertaking for a small business trends. Get the right financial backing with a merchant cash advance. With the right funds, the possibilities are endless.

There's a huge misconception in the world of business. People tend to think that if a company (that's not a startup) has to borrow money, it's not successful. Yes, in certain situations, you do need some capital to get up and running from a few bad months. However, usually, it isn't bad for your company. It can be a huge boost for your business and take your sales to a new height that you didn't know existed. Here are five reasons why successful businesses needs to borrow money.

Meet Consumer Demands

If you're running a successful business, you're going to scale over time. Your customers will increase, and your current production capacity won't meet your future demands. Scaling is an important part of the journey, and if you don't speed up production, the sign that says 'out of stock' will run your enterprise into the ground. Taking a merchant cash advance (MCA) could be a great way to upgrade equipment and start meeting consumer demands. It does cost you money upfront, but in the long run, it'll boost your profits tenfold.

Stepping Away from a Rough Patch

We mentioned COVID-19 a while ago, and it is a major reason why companies need to be open to the idea of borrowing money. Millions of businesses globally shut down because either their services weren't required by the public or they couldn't maintain enough profits to stay above water. If your company struggled to find ground but still made it to the early post-COVID era we're in right now, you're lucky. However, things might not be such food to you if you can't get yourself back to a certain level of stability. By taking a merchant cash advance, you might be able to hire new personnel, find new contractors to work with, spend more on advertising, and get back to work!

Making Payments on Time

Even some of the top businesses in the world need raw materials to make their products. And, most of the time, payments from customers take months until they're in the pocket of the finance department. To make sure you make all your payments on time, an MCA will help you keep the wheel spinning, and since you already have the money needed to pay it back, you're good to go.

Keeping Up With Competition

No matter what you sell, there's probably some other businesses out there that has been in the same industry for longer than you have. This means that they have a stable grip on the market and have a better cash flow to scale their business. Taking a merchant cash advance is like a quick hack to catch up to your competition and speed up sales much quickly as compared to the other, more traditional routes.

Reducing Personal Investments

If you’re running a small to medium business, it’s always tempting to put in all your personal savings to keep the business afloat. Building a cash reserve is a good way to keep financial problems at bay. However, a recommendable way to save yourself from the pitfall of personal investments is to borrow money. By bringing in the cash you need from other places, you’re keeping your bank account safe and sound.

Closing Thoughts

The word 'debt' is not the final nail in the coffin for your company. With proper planning, it can help you reach heights that you never imagined. That is where we come in. 2M7 Financial Solutions is a company that offers merchants cash advances, which you can return from a specific percentage of your sales. If you're looking for a reliable company to help you outshine your competition, request a quote, we will be happy to assist you.

As you seek out new financial solutions for your business, you’re wondering about merchant cash advances. What is an MCA, and what can it do for your small business?As it turns out, a merchant cash advance has serious benefits for small businesses. Check out these advantages, and you might be convinced that an MCA is the right move for you.

Funding Based on Your Future, Not Your Past

One of the biggest benefits of a merchant cash advance is that your future is more important than your past. With a traditional bank loan, you must provide your business’s past income and revenue. They’ll also want to see the business’s credit score and maybe your personal credit score.A merchant cash advance, however, is extended on the basis of anticipated future sales. The lender examines your past credit card and debit card sales to make an estimate about what you’ll earn in the future. They offer the advance based on what you’re likely to bring in.That’s great news for small businesses without a lot of history under their belt. Plus, since it’s forward-looking, it takes into consideration that your business is growing. That’s much better than a traditional loan that looks at your past and doesn’t consider your future needs.

You Can Use It for What You Need

A merchant cash advance offers more flexibility to a small business. Some traditional loans will earmark your funds for particular business uses. An equipment loan, for example, needs to be used to buy equipment. A payroll loan must fund payroll.An MCA can be applied to either of these expenses. Since the funds aren’t earmarked, you could use the MCA to help with payroll. Then you could take any leftover funds and put them towards that equipment.You can even use the MCA to help with day-to-day operations. Need petty cash? The MCA’s funds could stock it up. What about keeping the lights on? The MCA could help you with the electricity bill too.This gives small business owners greater freedom and flexibility than other traditional loan products.

A Merchant Cash Advance Offers More Payment Flexibility

Perhaps the biggest benefit is that the MCA gives small businesses more flexibility when repaying the advance.With a traditional loan, you’ll have a set monthly payment. If you experience a poor sales month, then you might only be able to make a partial payment. You might default on the loan or require another loan to pay it back.The MCA is different. The lender takes a percentage of your actual credit card sales as payment. When you have a good month, you can pay your MCA back faster. If you hit rough waters, then the payment decreases accordingly. You don’t need to worry about defaulting on the payments.

Discover the Benefits of an MCA for Your Business

These benefits can make a merchant cash advance the right choice for many businesses, but they’re especially helpful for small business owners.Ready to see what an MCA could do for your business? Get in touch with the experts to get the funds you need today.