Data breaches are increasingly, and alarmingly, common—for big companies and small businesses alike. And for smaller businesses, the effects of these breaches can be devastating. A recent Bank of America survey showed that nearly 40 percent of small businesses that experienced a data breach lost more than $50,000 in lost sales and attempts to mitigate the damage caused by the breach.
What’s more, 22 percent of consumers who’d experienced having their personal data hacked said they...
On the Saturday after Thanksgiving, American Express sponsors Small Business Saturday; a chance to encourage folks to support small businesses and entrepreneurs right after the huge retail blitz of Black Friday.
This year, they have partnered with Uber to offer free rides to shoppers who use UberPOOL in New York City. When American Express cardholders in any of the five boroughs use the code SMALLBIZSAT, they will get a free UberPOOL ride for up to $20. Through the end of 2016, first-time...
The coming wave of chip-enabled EMV credit cards is good news for consumers, who will be better protected from fraudulent charges and identity theft, but for small businesses, it could be a headache.
As of October 2015, businesses must be prepared to accept EMV credit cards, which are equipped with microchips that encrypt cardholder information and keep people safe from credit card thieves. If they don’t accept the cards, they can be held liable for fraudulent charges. However, becoming...
As the economic crisis continues and banks continue to search for ways to turn a profit, it seems that they are beginning to turn their eyes towards small businesses. This comes as the Senate prepares to pass the Credit CARD Act.
Small business enterprises are just one of the many sectors of society that has been adversely affected by the economic crisis which is still affecting the nation today. Lending companies, themselves in dire financial straits, have had to cut lines of credit for...