|By Business Wire||
|May 22, 2012 08:32 AM EDT||
For Main Street America, the secret to success is in the cards – credit cards, that is.
According to a recent Intuit Inc. (Nasdaq: INTU) GoPayment survey, 55 percent of the nation’s 27 million small businesses do not accept credit cards. Those nearly 15 million U.S. small businesses potentially miss out on $100 billion in sales annually. To help small businesses never miss a sale, GoPayment today launched a national video sweepstakes to “Get Business Growing” with chances to win up to $10,000. The sweepstakes shows how easy it is to take credit card payments on the spot via mobile devices – anytime, anywhere.
Intuit estimates that each business that does not accept plastic misses out on approximately $7,000 in sales annually, equating to approximately more than $100 billion in collective lost revenue. This missed opportunity represents a combination of new sales and sales that go to other businesses that accept credit cards.
Releasing the Cash Flow Chokehold
Small businesses also face a cash flow chokehold, waiting for an average of $5,140 per month in overdue payments. That’s a potential $1.7 trillion collective cash flow strain annually across all small businesses in the U.S.
“Getting paid in a timely manner can be a huge pain for small businesses,” said Cynthia Okimoto, owner of New York Dog Nanny. “It used to be that if clients didn’t have cash handy, they’d pay by check. Depending on the situation, the payment wouldn’t make it to my business bank account for days or even weeks at times. The process was inefficient and stressful for both me and my clients.”
Accepting credit cards on the spot helps alleviate this cash flow strain. Small businesses that accept plastic make more sales and get paid quicker than those that don’t. The survey found that 83 percent of businesses that accept credit cards make more sales, with 52 percent making at least $1,000 more per month and 18 percent making at least $20,000 more per month. In addition, 74 percent of those surveyed said they get paid faster and reduce bad debt by accepting credit cards.
Grow with Mobile Payments
The Intuit GoPayment mobile credit card app and card reader enables those who sell products or services to never miss a sale, no matter where the person does business. In a separate 2012 survey of GoPayment users, more than two-thirds of GoPayment customers new to credit card processing said they scored sales they would not have gotten without GoPayment.
“GoPayment has helped our business grow by making more sales – it’s been a game changer,” Okimoto said. “Now that I process my clients’ credit cards right on my iPad, I never have to turn down a potential client and I get paid faster and more reliably. Checkout is speedy and convenient for my clients, and they’re impressed by the sleek, innovative technology.”
Spread the Word; Win up to $10,000
To help more small businesses maximize sales to grow their businesses, GoPayment today launched a nationwide video sweepstakes to show how easy it is to take credit card payments anytime, anywhere on their mobile devices. GoPayment’s Get Business Growing sweepstakes features video stories from three small businesses showcasing how each uncovered opportunities to reach new customers in unexpected places and grow by accepting credit cards wherever they do business. The videos show how GoPayment helped:
- Birds’ Barbershop take its updated and reimagined version of the barbershop experience from its four wildly successful brick-and-mortar locations in Austin, Texas to a sidewalk during the SXSW Music festival.
- New York Dog Nanny mobilize its luxury dog treatments to offer them where pups play – Madison Square Park.
- The Jeff Coston Golf Academy bring its PGA-worthy coaching skills and a pop-up driving range to downtown Seattle.
Anyone can enter to win one of four $1,000 prizes by sharing any of the existing videos with their own social networks. Plus, small businesses inspired by the stories in the videos can win one of two $10,000 prizes by uploading their own ideas showing how they would grow their businesses by taking them to a new, mobile location with GoPayment. For more details or to enter the sweepstakes, please visit www.GetBusinessGrowing.com.
- GoPayment (http://gopayment.com/)
- Infographic (http://blog.gopayment.com/?p=2626)
- Get Business Growing (http://getbusinessgrowing.com)
- GoPayment Blog (http://Blog.gopayment.com)
- GoPayment on Twitter (http://twitter.com/gopayment)
- GoPayment on Facebook (http://facebook.com/IntuitGoPayment)
The Intuit Small Business Survey was compiled by Decipher Research for Intuit in November 2011, polling 1,000 American small business owners online.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Apr. 28, 2017 09:45 PM EDT Reads: 2,148
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Apr. 28, 2017 09:15 PM EDT Reads: 2,606
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Apr. 28, 2017 08:45 PM EDT Reads: 2,401
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Apr. 28, 2017 08:15 PM EDT Reads: 2,381
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 28, 2017 07:45 PM EDT Reads: 896
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
Apr. 28, 2017 07:45 PM EDT Reads: 2,930
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 28, 2017 07:30 PM EDT Reads: 1,499
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Apr. 28, 2017 07:15 PM EDT Reads: 2,316
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Apr. 28, 2017 07:00 PM EDT Reads: 1,162
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Apr. 28, 2017 06:45 PM EDT Reads: 1,028
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Apr. 28, 2017 06:15 PM EDT Reads: 997
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Apr. 28, 2017 05:45 PM EDT Reads: 857
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
Apr. 28, 2017 05:15 PM EDT Reads: 832
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Apr. 28, 2017 05:00 PM EDT Reads: 299
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Apr. 28, 2017 04:30 PM EDT Reads: 878