This post is sponsored by Capital One:
Sometimes, there are opportunities and low-hanging fruit right in front of business owners and they don’t take advantage of it. This applies to everything from outsourcing to better use of technology to simply trying out new things that are working for other business. One such opportunity that I’m always amazed more small businesses don’t take advantage of is the optimized use of small business credit cards.
One such great option is the Capital One Spark Card. After all, your purchases are rewarded with a 2% cashback reward that never expires. It you consider that many businesses run on razor-thin margins (or more often than desired, in the red), getting back 2% on routine expenses can mean the difference between night and day.
As you know, I have a few small businesses myself, and we rely heavily on credit. In the real estate investments I’ve made, we often fund materials and services for things like plumbers, electricians and HVAC experts. A few hundred here, a few thousand there – at 2%, that’s a lot of money back in our pockets at the end of the year!
Now, aside from the cash-back, which is my favorite perk, I really rely on the added cash flow float. I can incur an expense in the middle of the month, get a bill a few weeks later and then pay it when due a few weeks after that. This capability helps offset that fact that we only collect rents quarterly and we go through some dry spells where there are no funds coming in. Basically, credit is really important to all small businesses and this added benefit of cash back makes it a no-brainer to check out if you’re in small business yourself.
Check out the video below for some old-school claymation fun and more on the Spark Card: