Starting a business seems that grows into a successful entrepreneurship giant seems like everyone’s dream.
There are a lot of inspiring business wannabes out there, waiting for the right opportunity to embark on the entrepreneurship journey and begin their own small business. 15 years working for other people are enough for them; it’s time to show the people what they have got.
Opening own business is no small matter. There are various aspects and issues to look at. The overall capital, monthly expenditures, marketing strategy, competitive study, so on and so forth. To operate a business – especially when you open a physical shop – presence of a convenient payment processing system will be inevitable. These machines are known to be expensive. So how can you start a business while keeping the cost low?
The cash registers and point-of-sales (POS) that process credit card payment are not the cheapest machines any small business and entrepreneurs can afford. A good working POS can cost a few thousand bucks, and requires long hours of training.
Even with training and big investment, there seems to be some lack of efficiency in the overall operations. Paper receipts are essentially a waste (only a few customers look at them anyway), and sales figures for the day are not easy to track.
Here comes the Square register.
With the development spearheaded by the co-founder of Twitter – Jack Dorsey – the Square register allows businesses to provide easy check out, analyze their sales activities and manage their inventory with convenience.
It aims to make possible for the very small start-ups, or even the most accidental business owners, to process credit card payment, without having to worry about the expensive machinery, and not to mention, the high processing fees imposed by credit card processing companies.
This week, Square Register application that works with the iPhone and Android systems was launched. Through the app, consumers can find merchants in the nearby vicinity while allowing business owners to showcase their menu directly to the consumer’s mobile device.
During transaction, charges are made to the bank account or credit card linked with the consumer’s credit card, without having too much of interaction.
And the folks who own the proprietary aim it really big. They want Square to eliminate the cash register and POS systems. But wait. Sensing their success, there are also many other so-called big guns out there ready to pounce on the opportunity. Visa, Google (so expected of their nature, jumping into new-tech bandwagon), and even PayPal (owned by eBay) are quietly planning their move.
Welcome to the digital payment space. You can guess, with the race for convenience, user-friendliness and cost at stake, small businesses will be the eventual winners. This is definitely a boost for those aspiring entrepreneurs looking forward to starting a new business.