Running an online product or service takes a lot of effort and attention to detail. It requires familiarising yourself with key terminology to ensure that your business is operating at optimal levels. One term that crops up quite often but is frequently misunderstood is average transaction value (ATV) or average value per transaction. But what…
A business without a financial plan is like a house without a foundation. You can’t simply go with the flow and hope for the best. If you want to grow revenue, scale sustainably and stay resilient during uncertain times, you need clear, strategic goals. This will give you and your team direction and focus. In…
In business, identifying where the positive and negative results stem from is vital for making data-driven decisions. This could be applied to any area, from operations to sales. For example, organic search may not be a top-priority marketing channel for a brand, but at the same time, it could be generating the majority of online…
Every business owner is familiar with the tightrope walk of balancing expenses while trying to scale up. Keeping costs in check is crucial, but it’s easier said than done, right? That’s where cost control comes in. In simple terms, cost control is the process of managing and reducing business expenses to make sure they stay…
Starting your own business is an exciting and tempting opportunity that can help you achieve financial freedom and forget about your nine-to-five routine. However, the most common barrier to getting started is the initial investment required to launch a business. In the following sections, we offer a list of 18 low-cost business ideas with high…
Banks and financial institutions have their own language and terminology for communicating certain actions and transactions related to your bank account. One of these terms that is frequently misunderstood is a pending transaction. If you diligently check your mobile banking app or online banking to get an up to date picture of your account balance,…
In recent years, as customers seek safer, faster and more convenient payment methods, alternative cashless options have been on the rise. With the increasing number of people who shop online, businesses recognise the need to streamline their payment processing and boost their sales. In addition, many are turning to online payments to easily reach more…
There are many different types of businesses, each presenting unique traits, necessities, and peculiarities. Yet most of them share one common feature – they can benefit greatly from an online presence. One of the best ways to reach more customers and build a name for your business is via a website. In this article, we…
Whether you call it a nightclub, a dive bar, a sports bar or pub, a wine bar, or a cocktail bar, the principles behind it are quite similar. Essentially, this business primarily serves drinks as its main source of income, and it requires a lot of prior preparation before you get started. One of these…
Mail Order/Telephone Order (MO/TO) transactions have been a popular payment method for more than 20 years and they continue to play a fundamental role in payments acceptance. This means, for example, that a person in the UK can book their next trip to Greece by calling the hotel and providing the employee with their card…
Starting a restaurant may be one of your major business aspirations, but you need to be well-prepared financially to get off to a good start. With this in mind comes the question of how much does it cost to open a restaurant in the UK. Although there is no single fixed amount that you will…
Gone are the days of only being able to pay by cash or even cheque. Our world is changing so fast and with all the technological advancements taking place, you could even pay for a purchase with your watch or smartphone, if that’s more convenient for you. Times certainly are changing. The payment methods available…
Although not a new concept, embedded finance is a growing trend that’s more than likely to remain fixed in place and thrive in the future as consumers and businesses seek ways of getting around banks for traditional banking services. With this increased convenience, we’re likely to see huge rates of adoption worldwide. Some predict that…
If you’re a small business owner and numbers are not your strong point, we’ve got good news. You can stay in control of your business finances and achieve business success with a small business budget. Although its numbers might seem overwhelming, a budget is essential to running a business as it has a direct impact…
Whether you sell to an international clientele online or in a touristy area to which many tourists flock, as a merchant, it’s important to be aware of some fees that will (and we emphasise will and not may) arise because of transactions accepted with foreign cards. In particular, we’re referring to cross-border fees. But what…
