Consulting Businesses in The Financial Market is a Great Business Opportunity

Nov 25, 2014

If you have a financial background and are able to prove your skills with education, certification and experience then opening up a financial consulting business is just one option you might consider.

It is important that you are knowledgeable in your chosen area because you will need to pass on information to other businesses and people working for the companies to make it worthwhile them taking on your services.

You might be required to have a licence for your business and it is important to find out this information before you start. Organization is the key to getting everything you need to start a business prepared ready to go; this includes a financial consulting merchant account. This allows your customers the ability to choose how they wish to pay including using their credit and debit cards.

As in any business, it is important to set goals, knowing where you are going and what you want to achieve gives your business something to focus on. It allows you to build and grow developing your goals.

It is important that if you go into the consulting business that you are comfortable with networking; it is better to get recommendations from other people who you are working with rather than relying on advertising your business. It is possible that you might have access to networking parties in your local area; these are great, you get to meet local businesses that are looking for services in your area.

As with any business in the current economic climate, it is going to take hard work and determination to build a successful business. It is important that while a financial consulting business is a very knowledgeable area of business, it is still classified as a high-risk business and for this reason, it is important that you look at the insurance costs to protect your business from high chargeback rates.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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