BUSINESS BUYER TIP

Business Credit Cards Are Competing for YOUR Business
By Anita Campbell

Have you noticed how the market for business credit cards has heated up in the past year or two? It brings to mind those TV commercials with all the lenders competing for YOUR business. Yes, the business credit card issuers want your business, too. It's a good time to take a look-see at what's out there, especially if you are still using (ahem) personal cards for business expenses. 

A business credit card brings several advantages. They help you smooth out cash flow dips. With today's online statements and expense-tracking tools, including the ability to download to accounting software programs, you can manage expenses and organize tax records almost effortlessly. You also can obtain business cards for employees—for obvious reasons not something you do with a personal credit card. But here's the sexy part: today's new business credit cards offer exciting rewards, discounts and other attractive perks.

Credit Cards are NOT Created Equal
I am not here to recommend one particular card over another. But let me give you an idea of the range of business credit card products available today. American Express OPEN just launched a new Plum card that offers 2/10/net 60 terms. The Discover Business card offers generous rewards—up to 5% cash back and the ability to use miles on any airline with no blackout dates—plus personal customer service including a travel hotline. MasterCard offers a wide range of rewards and an extensive discount program for purchases made through vendor partners. The MasterCard website also offers a helpful decision-tree to enable you to choose among the many cards available through its network of individual banks and issuers.

Choosing the Right Card for Your Business
So, how do you choose among today's offerings? A good starting point is to ask yourself this question: "Is my company likely to pay off the balance each month?"

When paying off balances each month – Pay attention to grace periods and rewards; the annual percentage rate becomes secondary. Rewards vary widely and can be in the form of cash back (1% to 5% are typical ranges); travel miles; rebates when using the card for gas, office supplies and other purchases (again, 1% to 5%); price discounts on purchases made through designated vendors; and even free insurance and other valuable perks.

If carrying balances month to month – Here, annual percentage rates really matter. Any rewards could be outweighed by higher interest costs. Carefully evaluate any low introductory rates such as 0% interest for the first 6 months—advantageous yes, but you'll have to pay the interest-rate piper eventually.

Shop around: online, at your local bank, or by perusing those card offers you get in the mail. Two websites where you can conveniently compare multiple credit card offers are CardTrak and CreditorWeb. Let me end by saying, business credit cards offer tremendous convenience, efficiency tools and fiscal benefits. Always use credit cards responsibly.

Anita Campbell is editor of Small Business Trends, a site that tracks trends affecting the small business market.



BUSINESS OF THE MONTH

This Home Inspection Service will Make You CERTIFIABLE!
Location: Metro Atlanta, GA (Cobb County)
Asking Price: $175,000
Gross Income: $173,116
Cash Flow: $89,090
Year Established: 2000

What could be better? The owner of this business is a certified home inspector, and he will be your mentor for 1 month until you can do everything necessary as a home inspector. You will take a 2 week training course to become certified by the American Society of Home Inspectors(ASHI.) You will be taught how to market your services to the real estate community. The services you will offer are: home inspections, radon gas testing, construction phase inspections, stucco inspections and more. Each home inspection includes a complete structural and mechanical analysis, that thoroughly examines the exterior, interior, plumbing, electrical and HVAC. Your prices are structured based on the selling price of each home from a low of $275 to prices in excess of $460 or more. You will provide each homeowner or prospective homeowner with a computer generated report with digital photos that provide a comprehensive, easy-to-read analysis of the home. Learn more!

FRANCHISE OF THE MONTH

Blue Coast Financial Group
Capital Required: $19,995
Support/Training Available
Financing Available

Join a team of world-class professionals at the top of their game who've assembled one of the most powerful and comprehensive business-to-business opportunities available. Blue Coast has established the most innovative business-to-business services package in the country. As a Blue Coast Advisor, you'll represent a powerful suite of 15 Risk-Free Financial Services that require no up front fees yet deliver remarkable values and savings to businesses large and small–all risk-free, all backed by expert analysis. Learn more!

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B I Z B U Y S E L L ' S   L O A N   C E N T E R If you're looking to buy (or sell) a business, you should look into pre-qualifying for an SBA loan. SBA pre-qualification will let business sellers know that you are a serious buyer, increase your chances of getting the business you want, and help you understand how much business you can afford. Get started today with BizBuySell's Loan Center.