The federal government has announced a pilot project, the Digital Technology Adoption Pilot Program, aimed at helping SMEs achieve increased productivity. Are you interested in being one of the companies chosen?
Are you having a dispute with your bank or financial institution? Follow these simple instructions if you are not satisfied with the initial results.
Accepting a customer’s credit card means paying your credit card processor a fee about 1.5 to 3.0 per cent of the purchase. Fees are even higher for premium credit cards. If it’s suitable for your business, encourage customers to pay with cash, cheque or Interac to reduce your costs. We have posters you can place by your cash register.
One of the biggest complaints our members had in the most recent postal strike was their inability to either receive cheques from customers or send cheques to suppliers. One service making a difference is Interac’s e-Transfer service. This service makes the problem go away not only now, but forever!
One of the most important provisions of the Code of Conduct for the Credit and Debit Card Industry was a provision to allow firms to exit their electronic payment processing contracts with ACQUIRERS or RESELLERS without penalty within 90 days of an unscheduled rate change or the introduction of a new fee. Though the Code contains many more measures to protect your business you must still remain vigilant.
Approaching a bank for the first time can be intimidating. Remember that you are the customer and the bank is there so serve your business. Our tips will help you get the best from your financial institution.
CFIB has influenced the Government of Canada to require banks and credit card companies to follow a code of conduct. In the future, certain rules must be followed. In the meantime, please be careful.
