When it comes to challenges people face, money ranks high. In Gallup’s annual poll about financial concerns, 2016 saw upticks in each category surveyed, from medical costs to saving for retirement.
For small business owners, these problems can be even more acute. Just ask Justin Henshaw, who opened his first Fuse Frozen Yogurt in 2012 on St. Simons Island, Georgia. With no startup capital of his own and a tight credit environment, Henshaw struggled to get his business off the ground.
Through “persistence and a little luck,” he succeeded and now owns three dessert shops in this scenic corner of the Southeast coast. But funding can be an obstacle for many entrepreneurs, especially “when you’re relatively young and don’t have a lot of assets,” notes Henshaw.
Luckily, most small business owners say that credit availability and cash flow have improved since the depths of the Great Recession. In fact, 68 percent reported feeling optimistic.
The challenge now is to keep that positive momentum and continue growing the business. Clover money-managing apps are designed to get you there—by bringing business metrics into one place, uncovering ways to cut costs and boost profits, and reducing money worries. Here are four apps that merchants turn to for help with managing their money challenges:
- Reporting lets you stay on top of your business’s financial picture with easy-to-understand data. Simply launch the free app or Clover web dashboard, and you’ll find reports and metrics about payments received, items sold, discounts given, and taxes paid. Good data that’s up-to-the minute helps you focus on efficiency and profitability.
- In an age when many customers use plastic for their purchases, keeping track of the green stuff can be complicated. Cash Log tracks transactions for you, including all cash drawer activities such as adding or removing bills and coins. By letting an app do the work of monitoring cash and simplifying recordkeeping, you free up time to focus on core business activities.
- Banks aren’t the only lenders in town. For speed and simplicity, Clover Capital offers a new alternative for securing funding. Whether you want to make renovations, upgrade equipment, or expand, simply log in to your Clover station, fill out a one-page form, and hit submit. Clover Capital turns future credit card sales into working capital now, when you need it.
- No one can afford to hang on to merchandise that isn’t moving, especially items with a limited shelf life. Coupons N’ Combos helps you sell off excess product by creating any combo, discount, and coupon combination imaginable. Mix it up and get creative, while clearing space for more profitable items.
On top of great products and services, solid employees, and a steady flow of customers, small business owners need the essential fuel that keeps the engine of business running: money. Clover apps help you get, keep, and manage it, the smart and stress-free way.[image: Money by Ervins Strauhmanis on flickr]
Clover is sold by leading U.S. banks including Bank of America, BBVA, Citi, PNC, SunTrust and Wells Fargo. You’ll also find Clover at our trusted partners including CardConnect, Restaurant Depot, and Sam’s Club. For more information, visit us at clover.com.