Running a small food business means crunching the numbers, tracking the cash flow and making sure you have the capital to grow your business. The technology world has brought a lot of innovative solutions to the problems entrepreneurs need to deal with. These four online services can simplify the different financial aspects of your business: from banking and international money transfers to accepting card payments.
Holvi for better business banking
For a very long time, high street banks used to be the only way to get a bank account for small business. However, today there are fully digital alternatives to old-fashioned banking. Holvi is a modern banking service designed by entrepreneurs for entrepreneurs, the largest segment underserved by traditional banks in Europe. At the core of Holvi is the business current account and debit card. In addition, the account is equipped with powerful tools to help you better manage all aspects of business finances — from invoicing customers and managing expenses to automating bookkeeping and selling online. I need to add a disclaimer here — I work for Holvi and believe that small businesses should have access to better banking services.
TransferWise for cheaper international money transfers
If you need to transfer money abroad, TransferWise might just be the cheapest and easiest way to do it that is currently available. The company matches users who want to convert, say, pounds into euros and users who want to transfer money in the opposite direction (euros into pounds). As TransferWise doesn’t move funds across borders and skips brokers’ fees, it charges far less than banks for international money transfers. The service currently operates nearly 300 currency routes and plans on adding 300 more routes in the next year.
Crowdfunder for getting financial support from the crowd
Whether you’re looking to overcome financial hardships, boost your business growth or to get your idea off the ground, crowdfunding can be a great alternative for financing your business. As the name suggests, you turn to the power of the crowd for the financial support your business needs. For UK businesses, we would recommend using popular rewards-based platforms such as Crowdfunder or Kickstarter and the equity-based platforms Seedrs and Invesdor.
iZettle for easily accepting card payments
Looking for an easy and cheap way to accept card payments in your food truck, restaurant or cafe? Look no further! With iZettle, you can start accepting card payments on your smartphone or tablet in no time. What’s more, handy reports help you follow up on sales, understand your top-selling products and average spend. Oh, and Excel reports will keep your accountant happy too. In addition, the company is gradually rolling out a new product called iZettle Advance to offer loans to merchants who need funds to grow their business.
This is a guest blog post by Elena Zozulya, Marketing Manager at Holvi. Holvi is banking for Makers and Doers — European entrepreneurs, freelancers and small business owners. [/highlight]