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In this article:\n9 events in Atlanta, GA in 2022 that your business should know about\nStart your year off right by planning out the events your business will participate in this year. Community involvement and business conferences are a great way to inspire your team and help grow your business. \nCheck out these events in the greater Atlanta area that your business should know about and get ready for. \nPLEASE NOTE: We have made every attempt to be accurate in our information but as you can imagine, due to the continuing effects of the the COVID-19 pandemic, everything is still in flux. Please consult the websites for the individual events and confirm the status of the events you wish to attend.\nGreater Atlanta Biz Expo\nWhen: February 22, 2022\nThis event is coming up quickly, and your business should attend and gain some valuable new connections. Learn about new products and services that can help your business grow.\nThis event is free to the general public. Fees are only associated for exhibitors who would like to put up a booth.\nFor more info or to become an exhibitor, email \nGreaterAtlantaBusinessExpo@gmail.com\n.  \nTo learn more about the event times and activities, visit \neventbrite.com\n. \n\nFuture Festival Atlanta\nFuture Festival Atlanta\nWhen: May 20, 2022\nFuture Festival Atlanta is back for 2022! Visit \nfuturefestival.com\n or email \nconference@trendhunter.com\n.\nThis is the top innovation conference in Atlanta, GA. Leading business professionals such as NY Times Bestselling Author Jeremy Gutsche have been previous presenters to inspire you to have your best year ever. \nAt the event, you can engage in one-on-one sessions with business consultants, attend workshops, learn from top-tier innovators, and attend the “future party” to end the day and have some fun. \nBuy your tickets now at \nfuturefestival.com\n.\nAtlanta Dogwood Festival\nWhen: April 8-10, 2022\nThe Atlanta Dogwood Festival is back for 2022! Watch for more updates at \ndogwood.org\n.\nAtlanta’s Dogwood Festival was established more than 80 years ago as a celebration to welcome the spring and appreciate the beautiful dogwood trees that surrounded the area. \nSince then, more dogwood trees have been planted and the festival has continued strong throughout the years (with the exception of some time when it was discontinued due to World War II). \nNow people come from near and far, and your business should too. Whether you set up a booth at the festival or simply join in on the fun by getting involved with the community and promoting the event, you need to know about this awesome experience that Atlanta has to offer.  \ndogwood tree in blossom for local business events Atlanta\nHaven Conference\nWhen: July 21-23, 2022\nThe 2022 Haven Conference is on! Visit \nHavenConference.com\n for info and tickets. For more updates, follow their \nFacebook page\n.\nThe Haven Conference is an event for entrepreneurs to connect with like-minded people, learn new skills, and grow their brand. You can become an exhibitor at this conference or sponsor the event to help others learn and expand their businesses, or you can attend the event yourself to further develop your own business skills and relationships. \nDragon Con\nWhen: September 1-5, 2022\nFlaunt your inner nerd at this awesome Atlanta, GA event. While this event is geared toward a specific audience (and local comic book stores will definitely benefit), the more than 50,000 fans that gather are going to need businesses to support them.\nFrom food and drinks to lodging and entertainment to professional and local services, Atlanta’s small businesses can really profit during big events like this. \nSo mark your calendar and think up some fun ways that you can incorporate this event into your marketing and promotions this fall. \nLearn more and sign up for the Dragon Con newsletter at \ndragoncon.org\n. \nstormtroopers at dragon con parade for local business events\n\nYellow Daisy Festival\nWhen: September 8-11, 2022 \nIt’s back for 2022! Get info, tickets, and check back for updates at \nstonemountainpark.com\n.\nBecome a vendor for the annual Yellow Daisy Festival to attract new customers and grow your business! This festival is one of the nation’s top arts and crafts shows and has won multiple awards from the Southeast Festival and Events Association. \nSet up shop at the festival for a few days or be prepared for the crowds that this festival will bring. Always think of ways that your business can get involved with events such as these whether that’s volunteering or coming up with some creative deals in the theme of the event. \nLearn more at \nstonemountainpark.com\n. \nNorth Georgia State Fair\nWhen: September 22-October 2, 2022\nThe North Georgia State Fair is the largest fair in the metro Atlanta area with its nearly 300,000 attendants each year. Become a sponsor of the fair or set up a vendor exhibit to attract new customers. \nShow off your stuff and enjoy the fun festivities that this fair has to offer, from the food and games to the other vendor booths. Connect with other businesses and boost company morale with a day at the fair for your team members. \nLearn more about becoming a vendor at \nnorthgeorgiastatefair.com\n. \nSmall Business Expo Atlanta\nWhen: December 1, 2022\nThe Small Business Expo is a free one-day networking event for small business owners across the U.S. The Atlanta event will be held at the Cobb Galleria Centre this year. \nEven if you haven’t started your small business yet, this is a great event to make new connections and get inspired to get going. \nTake part in awesome workshops, listen to inspirational keynote speakers, and become an exhibitor to gain an even large impact. \nRegister for free or learn more about becoming an exhibitor at \nthesmallbusinessexpo.com\n. \nNew Year’s Eve Peach Drop\nWhen: December 31, 2022\nWhile the 2020 and 2021 events were cancelled, Atlanta hopes to bring back this tradition and make it bigger and better in 2022.\nEvery year for the past 30 years (except the past couple of years), Atlanta holds the Peach Drop to celebrate the new year. Carnival rides, live music, family entertainment, and an arcade are just some of the fun. National acts and celebrities perform at this annual event, drawing in attention from near and far. \nMost of the local restaurants, bars, and other entertainment venues stay open until the morning hours of the new year and benefit from the celebration. \nHop on this fun event with your business by joining in. Stay open late with fun activities throughout the night, offer sweet deals and discounts throughout the day, and share all about it on your website and social media channels. \nBe sure to keep your eyes out for announcements of when and where they’re bringing back the Peach Drop!


9 Atlanta area events that can be great for your small business in 2022

In this article:\nExamples of commercial space rent by city across the US\nWhy “the average cost of rent for a small business” is not always helpful\nRent to income ratio considerations\nWhat percentage of your business should be spent on rent by industry\nThe “unit cost” method of determining what you might pay for rent\nIf you’re considering renting business or office space for the first time, or perhaps the owner of a growing business wanting to move to a larger commercial space, this article is for you. \nIf you’re a current business owner wondering if your rent is too high, please read our article: \nLocal business owners: Are you paying too much in rent?\nWe’ll discuss the “average cost of rent for small business” in several metro areas, and we’ll show you why this isn’t the most helpful way of determining what you might expect to pay for rent.\nYou’ll also learn how to use unit economics calculations to determine if your business is profitable enough to start paying rent for commercial space. \nThe average cost of rent or office space for a small business varies widely, even within cities\nWhen you’re trying to estimate how much business rent might be in your area, it’s helpful to try to research the average rent for a small business in your area.\nStart by asking around your proposed area to get some idea of what it MIGHT cost you to do this. Of course, since the three most important things in real estate are (you guessed it) location, location, location, you will likely find widely varying rent figures depending on how good the location has been determined to be (and on your industry).\nlocal shop for rent for retail or restaurant\nYou should also consult with your local real estate brokers (as well as local business owners) to get a better idea of how much you might expect to pay. Be sure to clarify whether they’re quoting you the price per square foot PER YEAR, or per month. \nIt’s common to use the yearly figure but some industries or realtors might standardize on a monthly figure. For our purposes we are going to assume that the price per square foot is the \nyearly\n price unless stated otherwise.\nIf you want a prime storefront with lots of exposure and traffic in a typical suburban area, you can expect to pay quite a bit more, even more than double, what it might cost you a few blocks away. \nThe “good spot” in a popular shopping area might be $25 per square foot, while a less swanky location could be $10 or $11.\nSo for 2,000 square foot of retail space, you’re looking at a potential rent cost difference of $30,000 per year ($2,500/month) in this example, based solely on location. \n(Yearly price per sq. ft. x square feet ÷ 12 months = monthly rent)\nThe additional revenue generated by a prime retail location could make the extra cost of rent worth it, but it might not. You’ll need to examine your revenue and determine that for yourself (see below).\nBe sure to ask about additional charges, insurance, and taxes over and above your commercial rent\nIMPORTANT NOTE: Most commercial landlords will also charge you for “common area maintenance” (CAM), which is your portion of the cost for maintenance of the building, parking lot, etc. \nThey may also charge you for property tax, utilities, and your portion of the insurance premium they pay for the space. \nIn addition, for prime locations, a landlord may ask you to pay a percentage of your gross monthly revenue, or a percentage of revenue over a base amount (anything over $40,000 per month, for example).\ncommercial lease agreement for small business or office space\n\nThese extra charges can potentially be hundreds or even thousands of dollars per month, so make sure you read the fine print carefully before you sign your commercial lease.\nExamples of average cost for business rent per square foot by metro area\nEven though you need to talk to a commercial realtor in your area to get actual figures, we can provide some idea of the average rent per square foot for several metro areas across the US.\nInc. has a helpful interactive \ncommercial rent infographic\n that gives their data for some of the larger metro areas, so have a look around and see if your locale is listed.\nEntrepreneur’s data is a couple of years older, but they published \naverage commercial rent per square foot\n that can give you a ballpark idea, from the low $20s per square foot in Dallas and Atlanta, to around the $30s in Boston, Miami, LA, Seattle, Chicago, and Houston, climbing to the $50s for DC, and into the $60s and $70s for San Francisco and New York.\nNote: Inc. cites numbers closer to $40/sq. ft. for New York City and San Francisco for retail space, which highlights the need to do your own research to get a more accurate idea of what business rent should be in your area.\n\nHowever, if you are trying to decide whether it makes sense for you to move to your first (or a larger) rented business space, you really need to determine the “unit economics” of your small business.\nUnit economics is a more helpful and accurate approach than “average business rent in my area”\nLet’s look at a few theoretical examples to help illustrate the concept of unit economics:\nLet’s say you sell dinguses. One dingus costs you $5 to make (or purchase), stock, and sell. You sell the dingus for $10 retail. Looking at the unit economics, we see a 50% profit margin. \nWe can also look at things in terms of cost of acquisition of a customer (CAC). Let’s suppose you have done the math and determined that for you to acquire one customer, it costs you $30, between product cost, marketing campaigns, employee expenses, and overhead. Your data shows the average customer typically spends $65 per visit. Looking at the unit economics in this example, your CAC is pretty high, but still positive.\nNext, let’s look at rent. We’ll assume one square foot of commercial space costs you $6 per month, and your average monthly gross revenue is $48,000. If your space is 1,000 square feet, that’s $6,000 a month in rent. Run the calculation ($6,000 monthly rent ÷ $48,000 monthly gross revenue) and your rent is 12.5% of your monthly gross income.\nLet’s look more closely at this last example to tell if your small business rent would be prohibitively high based on your revenue and estimates of commercial rent in your area.\nWhat percentage of a small business’s revenue should be rent?\nTo calculate this price to commercial rent ratio, we’ll look at some common “verticals” (types of businesses) and the typical rent levels of each. Keep in mind the following percentages are rough estimates and are not exact, but you might find them helpful in planning or benchmarking.\nRestaurants: Generally, a restaurant’s total occupancy cost (rent and additional fees for property taxes, insurances, etc.) should not exceed 6-10% of gross sales. (\nsource\n)\nHair salons: Combined commercial rent and property taxes for hair and nail salons range from 3% for a more remote location to 10% in a popular, well-established mall. (\nsource\n)\nLaw firms: Law offices may expect to spend 6-7% of gross revenue on rent, but this can climb as high as \n15%\n for a prestigious address. (\nsource\n and \nsource\n)\nRetail stores: Retailers should aim to spend no more than 5-10% of gross annual sales on rent. (\nsource\n)\nAuto shops: A typical full-service auto shop spends 12-13% of annual gross revenue on rent. (\nsource\n)\nThe next thing we need to look at is your gross sales. How much money did your business make last year? What was the total sales for each month? Lots of small business owners know this figure very well, and if you don’t, you should.\nFinally, you need to know (or estimate, based on your local research), your business’s square footage and rent cost.\nCalculate how much your business should pay for rent\nGross sales ÷ square footage = sales per square foot\nIf your average monthly gross sales are $15,000 and you are considering renting a 2,000 square foot retail space, then your sales per square foot would be $7.50.\nIf monthly rent works out to be $2/square foot, divide your monthly rent per square foot by your sales per square foot to determine your percentage of income that would go toward rent.\n2.00 ÷ 7.50 = 26.6%\nIf this number is higher than the average for your vertical—retail shops, in this example, at 5-10%—then you can be confident you would be paying too much in rent.\nIn our example, for every $7.50 in revenue that a square foot generates, $2.00—or more than one-fourth—would be going to the landlord. This is waaaay too much, according to the industry average.\nHowever, if you think you can sell the same amount out of a \n1,000\n square foot space, then your rent would be around 13% of your gross revenue. This is still more than you should pay as a retailer, but much closer to the industry benchmark.\nThe calculation above shows the unit economics of your rent, broken down into the revenue and expense of a single square foot. \nWhy is this important? Because you can use the unit economics of your proposed space to decide whether you can afford to cover the cost of a business lease, or whether you should try to make your business more profitable first.\nSources:\n
\nhttps://www.entrepreneur.com/growing-a-business/how-much-does-it-cost-to-rent-an-office-in-your-city/246857\n
\nhttps://www.inc.com/magazine/201806/michelle-cheng/how-rents-change-cities-real-estate-prices.html\n
\nhttps://www.thebalancemoney.com/what-it-costs-to-rent-a-building-space-2890493\n
\nhttps://smallbusiness.chron.com/much-business-space-cost-rent-62366.html\n
\nhttps://www.thebalancemoney.com/commercial-lease-calculations-tools-2866566\n

How much does it cost to rent space for a small business?

In this article:\nTips for getting loan assistance quickly\nAssistance from U.S. Small Business Administration (SBA)\nEmergency loans you can get from a local bank\nOther funding sources\nDuring emergencies and times of crisis, it’s hard to predict what kind of effects your business will experience. Will sales drop? Will demand increase? Maybe you’ll have a combination of the two depending on your industry. \nAs we learned during the coronavirus (COVID-19) pandemic, small businesses all over the world may be disrupted and seriously impacted by physical or economic disasters. So, we’ve put together a helpful list of places where you can get emergency funding for your business during your time of need. \nIMPORTANT NOTE:\n As of the time of this publication, \nCOVID EIDL is no longer accepting new applications\n but will continue to accept requests for increases, reconsideration, and appeals. If the EIDL program is reopened again on a national level, we'll be sure to let you know!\nTips for getting loan assistance quickly\nBefore getting to our list, we wanted to share some tips that will make the process of acquiring funding a little bit easier (and sometimes quicker), especially when seeking assistance from alternative lenders:\nHave your statements prepared. Get at least four months of your business’s recent bank and credit card processing statements ready before applying for any loans. \nHave paperwork ready to show your business’s annual revenue, debt obligation, cash flow, and profitability. These are the primary factors for loan approval. \nBe prepared to state how long you’ve been in business. Most lenders require a minimum business age of 6 months (sometimes up to two years).\nwoman reviewing business documents for emergency funding\nAssistance from U.S. Small Business Administration (SBA)\nThe United States Small Business Administration is prepared to help during national emergencies and also offers alternative loan and funding programs for businesses that need it. \nSBA Disaster Assistance\nThe SBA has \ndisaster assistance\n in place for businesses that are heavily affected by the impacts of various types of physical and economic disasters. Depending on current circumstances in your area, you may be able to apply for these loans.\nClick to read our helpful walkthrough for \napplying for SBA disaster loans\n\nHow the SBA Disaster Assistance program works:\nThe SBA’s Disaster Assistance will coordinate with state and territory governors to submit and approve requests for Economic Injury Disaster Loan assistance\nWhen specific areas have been chosen and approved for this program, the SBA will make this information available to affected communities and update their website: \nSBA.gov/disaster\n\n\nEconomic Injury Disaster loans\n can be acquired for up to $2 million (depending on the current program. As of the time of this publication, \nCOVID EIDL\n is no longer accepting new applications but will continue to accept requests for increases, reconsideration, and appeals.\nLoans can be used to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid due to the impact of the coronavirus\nInterests rates will vary, but are curretly 3.75% for small businesses and 2.75% for non-profits\nRepayment plans can be long-term (for up to 30 years) in order to keep payments affordable\nSBA loans and funding programs\nBeyond the SBA’s disaster assistance options, they also have the resources to help connect you with other types of lenders when traditional methods aren’t working. This can be helpful if your state or territory doesn’t yet qualify for the disaster relief efforts. \nWhether you need $500 or $5 million, the SBA can help point you to the perfect lender for your business’s needs. \nThere are eligibility requirements for loans provided through the SBA (this is different from the Disaster Assistance requirements):\nMust be a for-profit business\nMust do business in the U.S.\nMust have personal equity invested in the business (time or money)\nMust have exhausted financial options (can’t get loans from other lenders)\nLearn more about how to get loans through the SBA’s lender match program at \nSBA.gov\n.\nEmergency loans and funding from alternative lenders\nIn emergency situations, you often need capital quicker than traditional lenders (like banks) can get it to you. That’s where alternative lenders come in. These are non-bank companies, like venture capitalists, angel investors, non-profits, and other investment companies that seek to provide funding to small businesses. \nEmergency loan options from alternative lenders:\nShort-term loans are lump-sum loans that are meant to be paid back within 18 months. These are often quicker to acquire and helpful in a pinch for a one-time unexpected emergency\nMedium-term loans (or traditional term loans) are the types of loans that you might acquire from a bank with regular payments at a fixed interest rate. But if you can wait a little longer to get your loan from an alternative lender, this might be the way to go. \nInvoice financing is helpful when your customers aren’t able to pay their invoices. Invoice financing options will pay a percentage of your unpaid invoices to you quickly, generally 85%, with the other percentage getting paid later. \nA merchant credit advance (MCA), while not technically a loan, is a great option for quick cash. With an MCA, a financing company will give you cash in exchange for a percentage of your daily credit and debit card sales, with an additional fee. \nSome national lenders that can help with these types of emergency funding:\n\nCAN Capital\n can help with short-term loans and MCA \n\nFundation\n can assist you with medium-term loans\n\nBlueVine\n can help with invoice financing and term loans\n

Emergency funding options for small businesses (2022 update)

In this article:\n10 events that Washington DC area businesses need to know about this year\nWhich DC events may be cancelled or rescheduled?\nEvents like business conferences, festivals, and local community happenings can help you grow your business. You and your employees (if any) can develop more skills at a business expo and you gain increase brand awareness and grow sales by participating in community events. \nWe’ve found several Washington, DC area events that you should add to your business calendar. Check them out and see which ones make the most sense for you and your small business. \nPLEASE NOTE: We have made every attempt to be accurate in our information but as you can imagine during the lingering impacts of COVID-19 pandemic, everything is still in flux. Please consult the websites for the individual events and confirm the status of the events you wish to attend.\nSAME Small Business Conference\nWhen: February 24, 2022\nThe 14th Annual Society of American Military Engineers (SAME) DC & Northern Virginia Post Small Business Conference brings together state, local and federal agencies and businesses throughout the DC and Northern Virginia area to network, discuss upcoming contracting opportunities, connect with potential teaming partners, and more!\nGet tickets and info at this \nEventbrite page\n.\nNational Business Federal Contracting Summit \nWhen: March 9-10, 2022\nThis summit helps small businesses secure federal contracts through networking with federal agencies and prime contractors. \nAt the summit your team can gain valuable education and insights into current trends and opportunities for small business contractors, including legal education and information about threats to contractors. \nThis event will help you make new connections and set a course for the future. \nLearn more about the event and register at \nasbcc.org\n.\nSmall Business Expo (virtual)\nSmall Business Expo is Washington, D.C.’s BIGGEST virtual business networking and educational event for small business owners and entrepreneurs. Join other passionate DC business owners virtually and learn how to increase revenue and grow your business.\nRegister at \nthesmallbusinessexpo.com\n.\nNational Cherry Blossom Festival\nWhen: March 20-April 17, 2022\nThe National Cherry Blossom Festival in Washington, DC starts in March and extends through mid-April. This is a great time for your business to embrace community traditions and get involved. \nTo get involved directly with this festival, your business can become a sponsor, volunteer, enter the \nretail window competition\n, donate something to the silent auction, and much more. \nYour team can also attend the various events together for some fun team bonding exercises. \nDeck out your store in pink and white cherry blossoms during this festival and offer fun deals that are themed around the events. \nLearn more about getting involved at \nnationalcherryblossomfestival.org\n.\ncherry blossom festival DC business events\nWashington International Strategic Leadership Conference\nWhen: June 12-14, 2022\nImprove your leadership skills and help your team grow into better leaders with this conference. Conference highlights include:\nPresentations around strategic decision-making and leadership\nPresentations on business development strategies and research works\nRound table sessions on strategic development\nLearn more and sign up for the event at \n10times.com\n.\nDigiMarCon America 2022\nWhen: July 7-8, 2022\nDigiMarCon was digital-only in 2021 but is back in person for 2022 in Washington DC. DigiMarCon is one of the nation’s largest digital marketing conferences and you won’t want to miss out. This 2-day event is comprised of sessions with the best thought-leaders in digital marketing. \nTopics of the presentations include, but are not limited to:\nDigital strategy\nUser experience\nMobile marketing and retargeting\nCustomer engagement\nEmail marketing\nContent marketing\nSearch engine marketing\nConversion rate optimization\nGeo-targeting\nPaid search marketing\nLearn more at \ndigimarconwashingtondc.com\n.\nArlington County Fair\nWhen: August 17-21, 2022\nThis fair is one of the largest free events on the east coast. Your business can become a vendor or exhibitor at the Arlington County Fair. This is a great opportunity to increase awareness of your business and gain new customers in your community.\nHave team members take turns manning your booth and give them some time to enjoy the fair and have some fun. \nAnother way your business can participate is by becoming a sponsor or volunteering at the fair. Learn more at \narlingtoncountyfair.us\n.\ncounty fair shops and ferris wheel DC area\nThe Atlantic Festival\nWhen: September 2022\nThe Atlantic Festival went virtual for 2020-21 but plans to return live in the Fall of 2022. Check back often for updates at \ntheatlanticfestival.com\n.\nThe Atlantic Festival gathers the biggest names in politics, business, tech, music, books, and more. For three days, this event tackles challenging issues with their celebrity guests and has several opportunities for entertainment as well. \nPast guests include John Legend, Bill Gates, Mark Zuckerberg, Joe Biden, and Paul Ryan. \nGet involved by staying up to date on the event and keeping your customers aware of it on your social channels leading up to the festival, showing how engaged your business is with important topics and community events. \nDC Mac + Cheese Festival\nWhen: Fall 2022*\n*no exact date has been specified as of the time of this publishing\nDon’t miss out on the Mac + Cheese Festival. Some of the top chefs from around the nation come to share their expertise with local chefs. Local restaurants submit their own macaroni and cheese recipes to share with attendees and spread awareness of their delicious food.\nOther businesses that are not restaurants can become vendors or sponsors of this fun event. \nOn the day of the event, show your support and involvement by offering mac and cheese themed deals and discounts. Share that on your social channels and have fun with it.\nLearn more about becoming a vendor or sponsor  and check for schedule updates at \nwww.drinkeatmac.com\n.\nMac and cheese festival chefs for DC business events\n


10 2022 Washington DC area events that can be great for your small business

In this article:\n8 Chicago events to add to your 2022 business calendar\nWherever your business is located, you can and should take advantage of local events. Whether that is a 2-day business conference to help your team members grow and develop in their roles or a fun family fair in the next town over, these are opportunities to grow your business. \nWe’ve highlighted several Chicago area events that you should consider adding to your calendar. Check them out and see which ones you can actively participate in. Even large, regional events can benefit smaller local businesses if you know how to benefit from the hype and the extra visitors. \nPLEASE NOTE: We have made every attempt to be accurate in our information but unforeseen circumstances may arise. Please consult the websites for the individual events and confirm the status of the events you wish to attend.\nChicago Auto Show\nWhen: February 11-20 2022\nCheck back at \nchicagoautoshow.com\n for more specific times and dates as we get closer to the event.\nThe Chicago Auto Show is the nation’s largest auto show, featuring vehicles all across the board to show consumers the newest and greatest automobiles to date as well as the classics that will never go out of style. \nWhether your business is in the auto industry or not, this is a valuable opportunity to gain some traction with your customers. If you are in the auto industry, see what it takes to participate in the show and bring in more customers that way. \nAnd if you’re not, then take advantage of this national event by creating fun discounts and deals related to the show. Share that on your social media channels, website, and storefront to bring in more customers throughout the week of the show. \nMaxwell Street Market\nWhen: Sundays, March-December\nThe Maxwell Street Market starts March 1 and generally goes through the Sunday before Christmas. Every Sunday, Maxwell Street is open to vendors across multiple industries to sell their goods. Become a vendor at the Maxwell Street Market this year or during the market, offer some fun deals at your business to bring in more customers while they are out browsing through the market. \nLearn more about becoming a vendor at \nchicago.gov\n.\nDigiMarCon\nWhen: May 9-10, 2022\nDigiMarCon is one of the largest digital marketing conferences in the world. At this conference you will learn the best ways to keep up with your competition through digital marketing strategies and which methods will be most valuable for your business. \nYou’ll have the opportunity to learn from the industry’s best, including speakers from Microsoft, Adobe, SEMRush, NBC Sports, Amazon, Paypal, Hubspot, Pizza Hut, and many, many more. \nSign your marketing team up for this conference now at \ndigimarconmidwest.com\n.\nChicago Small Business Expo\nWhen: May 19, 2022\nDon’t miss out on the Small Business Expo. This national expo is perfect for entrepreneurs in every industry. Hear from speakers on ways to enhance your business strategies, participate in workshops, and network with other local businesses. \nThe best part is your team can attend the event for free! Sign up now at \nthesmallbusinessexpo.com\n.\nIllinois State Fair\nWhen: August 11-21, 2022\nLocated in Springfield, just three hours south of Chicago is the Illinois State Fair. Businesses can gain new customers by setting up a booth at the fair. People from all over the state gather at the fair to have fun, and as they escape the heat to check out the exhibits, they may just find what they have been looking for at your booth. \nWhether you are a service or product-based business, you can benefit from having a booth at the fair. Learn more about becoming a vendor at \nillinois.gov\n.\nChicago Blues Festival\nWhen: June 9-12 2022\nChicago is a hub for culture. With a diverse lineup celebrating the blues’ past, present and future, the Chicago Blues Festival shares the great Chicago-born music tradition while shining a spotlight on the genre’s contributions to soul, R&B, gospel, rock, hip hop and more. Get more info at \nChicago.gov\n.\nAnnual Jazz Festival\nBring your team to the event to improve morale and have some fun, but also get your customers excited about the fun through sweet deals and themed discounts at your business. Be sure to check out the other annual music festivals that are taking place at the Chicago Cultural Center to see if these events can provide even more opportunities for your business to gain awareness. Info \nhere\n. \noutdoor chicago jazz festival for small business events\nWinter WonderFest at Navy Pier\nWhen: (may resume in December 2022)\nWinter Wonderfest has become a huge annual festivity at Navy Pier during the holidays. Fifth Third Bank hosts this year-end event by setting up the city’s largest indoor winter playground. With carnival rides, an ice-skating rink, holiday-themed activities, a giant slide, vendors, and much more, families gather from all over the state to join in on the fun.\nParticipate in the fun by taking your team to enjoy the festivities and offering themed discounts and offerings throughout the festival. Stay up to date on this year’s activities by checking back on the event at \nnavypier.org\n.

Small business events in Chicago: 8 ways to grow and market your business in 2022

In this article:\nWhat kind of payment processing solution is best for your business?\nWhat does the application process look like for payment processing?\nWhat documentation do you need to get approved to accept credit cards?\nHow much does credit card processing cost?\nAccepting credit card payments is table stakes for today’s businesses, even for small, local shops or roadside stands. If your business isn’t accepting credit cards as a form of payment, then you are losing out on valuable opportunities to gain more revenue and valuable customer data that can power your marketing and customer retention efforts. \nLet us help you make this process easier by walking you through the application and approval process to start accepting card payments.\nWhat kind of payment processing solution do you need?\nBefore you can ever apply and get approved to start accepting credit cards, you need to decide what you want and what you need. What solution is going to work best for your business?\nAsking yourself these questions can help guide you down the right path:\nWhat type of payments do you need to accept? (Cash, checks, gift cards, credit cards, online payments, etc.)\nWhat are the pros and cons of each payment type?\nWhat are the fees associated with processing credit cards using different providers?\nHow quickly do you need to start accepting credit card payments?\nDo you need any equipment like a terminal or mobile card reader?\nDo your research to determine which solution will be best for your business. And don’t just stick with the first payment processor you come across. Call at least two or three other service providers and processors to get an idea for their rates, approval process, and setup time, and then make a more informed decision from there. \nWhat does the application process look like?\nDepending on the type of credit card processing solution you choose, your application and approval process can vary a lot. \nMost credit card processors, whether merchant account or third-party solution, have an online application that you can fill out. \nTraditional merchant accounts through a financial institution often have a much more in-depth and rigorous application process than other third-party payment processors. \nWhichever solution you decide to go with, you will need to have specific information ready in order to even apply. Oftentimes, your service provider will also ask for additional information to help mitigate their risk of doing business with you.\nMost providers have some sort of underwriting process to help them gather and validate the information they need. \nIn order to give your business the best chance to get approved, you’ll need to provide in-depth information about your business, including\nBusiness information\nArticles of incorporation\nFinancial statements\nBank account information \nCredit cards you want to accept \nOther supporting documents\nOnce you’ve completed the application for your desired solution, then the approval process begins. For some providers, the approval process can happen as quickly as the same day and for others, it can take up to several weeks. \nWhat do you need to get approved to accept credit cards?\nLet’s go into a little more detail about each of the items above that you may need for the application process. Understanding what these service providers are looking for and providing as much information as possible will give you a better chance to be approved. \nBusiness/personal information\nThe application you fill out will ask for several pieces of information regarding your business, and depending on your circumstances maybe even a few personal items. Most credit card processors will ask for at least the following information:\nOfficial business name (this should match what your bank account has on record)\nBusiness phone number\nBusiness email address\nBusiness address\nWhat you are selling (this is important because some payment processors won’t work with certain types of products like live animals, firearms, adult entertainment, etc.)\nEIN, tax ID, or social security number\nThese are the basics that most credit card processors will ask for, or start with anyway. For several third-party solutions, you may be able to sign up for your account with this information, provide your banking information, and get started the same day. But you should be aware that you will generally pay more for processing with a third-party payments provider than you will if you get set up with a traditional processor with competitive rates.\nRead more in our article explaining all the different \ncredit card processing fees\n.\nArticles of incorporation\nIf you are applying for a merchant account or other provider that requires more in-depth information, you may want to have your articles of incorporation ready. Of course, this only applies to corporations. This will help your service provider to verify that your business is legit. \nAlong with this, whether you have a corporation or not, providing your business license and other permits can be helpful to prove your legitimacy. \nFinancial statements\nFinancial statements can help a service provider further determine how risky it will be to work with you. Depending on the statements they ask for, these may reveal your debts, your income, and other financial obligations that you have. \nSome documents to have ready:\nBank statements\nProcessing statements (which might include transaction history, refunds, and chargebacks)\nCredit report (not all providers will ask for this, but it’s good to have ready just in case)\nMerchant account providers are generally looking for fraud risk when they ask for this information. \nBank account information \nIn order to get the money from your transactions, you’ll need to provide your business bank account information. This will usually include your business name, a checking and routing number, and sometimes a voided check. \nHave all of this ready before you start filling out your application so that you can get through the process as quickly as possible. \nCredit cards you want to accept \nSome service providers will accept most credit cards (Visa, MasterCard, AmEx, etc.) and you won’t have to worry about this. \nHowever, some providers may only accept certain credit cards or require you to choose the credit cards that you want to accept. The reason for this is often the fees associated with each credit card network. They each require interchange fees for the use of their networks, which are the fees that your service provider has to pay them—and this is usually passed on to you. Some networks are more expensive than others.\nOther supporting documents\nIt’s always a good idea to be overprepared, so try to have as much information ready as possible. Depending on the service provider you choose, you may be asked to provide additional information after you’ve submitted your application. \nThis additional information is just to help mitigate the provider’s risk of doing business with you and help them see that you run a legitimate business. \nSome of the supporting documents you may be asked for:\nMarketing materials with your branding and business name\nBusiness plan\nBusiness policies, like returns and cancellations or shipping policies\nSales forecasts\nInventory reports\nEver service provider may handle this process differently, so it’s always a good idea to ask upfront what kind of information they require to approve your business to start accepting credit cards. But this list will give you a good starting point and idea of what to expect. \nHow much should I pay for credit card processing?\nDifferent processors and payments providers all have different rates and ways of determining your costs for accepting credit card payments. Let’s go over the main options briefly. \nInterchange plus pricing\nSome base their fees on what is called “interchange plus” pricing, where they pay the current “interchange rate” charged by the big credit card networks and add a markup to cover their cost and profit margin, and generally a per-transaction fee on top of that.\nFlat rate pricing\nOther payments service providers charge what is called “flat rate” processing, which means that you simply take a percentage of the total cost of an item, generally between around 2.4% and 3%, plus a per-transaction fee, typically between $.10 and $.30. The percentages and fees can change depending on how you process the payment (for example, manually entering a card number is usually more expensive than “dipping” or inserting a chip card), but you can generally count on the fees for each type of transaction being the same for all of those types of transactions.\nSubscription flat rate pricing\nThere’s another processing pricing model called “subscription flat rate processing,” where you pay a monthly subscription fee, generally between $20 and $60, and a flat percentage above the interchange rate, plus a transaction fee per transaction. Some businesses can get competitive rates using this model, depending on how large your typical sale is and how many sales you process per month. Read this \narticle comparing credit card processing costs\n for more details.\nGenerally though, a traditional processor using a competitive interchange plus pricing model will be able to get you a lower overall cost… and you can save up to 20% or more compared to third-party payments providers with faster setup and “simpler” rates. \nBe sure to read our \narticle explaining all the different credit card processing fees\n so you understand what to look for… and what to watch out for.\nSolo makes it easy to accept credit cards\nSolo is not a bank, but is a financial super-app for small businesses, freelancers, sole proprietors, contractors, and more. Solo is the easy way to pay and get paid. Your customers don't have to sign up to pay you, and can use several payment methods, including Apple Pay, Google Pay, and cards. QR codes make it easy to get paid, and you can easily cash out your Solo account balance for free, or spend it using your Solo Cash Card anywhere Visa is accepted. Learn more at \nSolo.co\n.\nSources:\n
\nhttps://www.businessnewsdaily.com/4394-accepting-credit-cards.html\n
\nhttps://paymentdepot.com/blog/merchant-account-requirements/\n

87 articles found in “Resources”

9 Atlanta area events that can be great for your small business in 2022

How much does it cost to rent space for a small business?

Emergency funding options for small businesses (2022 update)

10 2022 Washington DC area events that can be great for your small business

Small business events in Chicago: 8 ways to grow and market your business in 2022

Small business basics: getting set up to accept credit cards

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