Survey Shows Small Business Feeling Big Pains

The 2009 Channel Insider Market Pulse survey shows that small businesses are cutting back on information technology (IT) services, which have long been considered “resilient” in a recession. Overall, businesses are reducing IT expenditures, but small businesses have really put the skids on IT spending this year. Small businesses are delaying IT and networking upgrades by improving their maintenance, and are seeking out “friendly” financing options when they do make purchases.

In addition, small businesses are re-deploying equipment that they’ve retired once, or are extending the useful life of equipment by repurposing it for other tasks. Repairs on broken equipment are also up significantly. Of more concern is the fact that nearly one-quarter of respondents report that their IT contracts are being cancelled. The survey also shows that small and medium-sized businesses are outsourcing their IT services at a higher rate in order to reduce their payrolls.

IT is an important component for most businesses today, but IT services aren’t cheap. If you need to replace computer and electronic equipment but can’t find the terms you need to make the deal happen, consider a merchant cash advance as an alternative to financing.

A merchant cash advance leverages the power of your future credit card transactions to give you the cash you need right now. There are no long applications to wade through, no long waiting periods to find out whether your advance has been approved and no hassles about how you plan to spend the cash.

If your business is registered in the US, accepts Visa or MasterCard and has credit or debit sales of $2,500 or more per month, there’s an excellent chance that you’ll be able to take advantage of a merchant cash advance. Once you have your cash, there are no monthly bills to pay. Your advance is repaid as your regular credit card transactions are processed. It’s that simple.

If you need cash to replace equipment or make your business run efficiently and you can’t find the financing you need, consider a merchant cash advance from Rapid Capital Funding.

Photo Credit: Ilker

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