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The Merchant Bill of Rights seeks to level the playing field for small businesses

2018-03-01T15:38:11

(BPT) – Consumers who make just a few purchases each day may not think much about the companies that process their credit card. But for a small or mid-sized business, processors who aren’t transparent about the costs they pass on can add up to an expensive headache. Heartland is celebrating 10 years of the Merchant Bill of Rights as an industry standard to promote fair card processing practices.

Its purpose: to enable merchants who don’t have the resources of large purchasing organizations to effectively manage their costs, determine which processor best meets their needs and realize significant savings.

1. The right to know the fee of every card transaction, who is charging it, and if there are surcharges and bill-backs.

Owners or operators of a small or mid-sized business deserve — and should expect — competitive pricing and the best value for payments processing including credit, debit and prepaid card processing.

Many processors and their middlemen hide arbitrary charges — often classified as “surcharges” — without disclosing them to merchants. These charges are pure profit to processors and their middlemen, making transactions that are already expensive even more costly.

2. The right to know the markup of major credit card fee increases and reductions.

Credit card companies typically adjust interchange rate categories and fees semi-annually in April and October. When rates go up, many processors seize the opportunity to inflate them even more and then deceptively blame the increase on the card brands.

3. The right to know all transaction middlemen, and have reasonable equipment costs.

The chain of events that begins when a merchant swipes a customer’s card is fairly straightforward. At minimum, it requires four essential entities to process the transaction: a bank, a credit card brand, a telephone or internet connection and a processor.

When big companies buy equipment, they often solicit proposals from multiple equipment manufacturers to drive the best deal. Owners of a small or mid-sized business may not have the time or resources to shop around for a payment device, and oftentimes turn to their processor for guidance. However, they may not be getting the deal they’ve bargained for — and most likely don’t know it.

4. The right to real-time, dedicated, live service 24/7/365.

Service and support are critical factors in implementing and maintaining a card acceptance program. Unlike national merchants, small local businesses may lack the resources needed to ensure proper training, ongoing support and the best available rates.

With most Americans relying on credit and debit cards for their purchases, one minor problem that prevents or delays the processing of transactions at the point of sale can have devastating effects. Combine the ripple effect of customer dissatisfaction with lost revenue, and it’s easy to see why live customer support 24 hours a day, 7 days a week, 365 days a year is mission critical for all merchants.

5. The right to encrypted card numbers, secure transactions and real-time fraud and transaction monitoring.

Credit and debit card fraud costs American businesses billions of dollars every year. Thieves work overtime to find ways to steal from merchants. Often disgruntled or dishonest employees — even some customers — are masters at making money the illegal way, and not getting caught.

For more information, to share stories about dishonest business practices or scams, or to ask a question, visit MerchantBillofRights.org.


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Be wary of adult bullying and know where to turn if you are being targeted

2018-02-02T09:37:00

(BPT) – When you hear the word bully, you probably think of the big kid waiting in the school yard to steal your lunch money. However, bullies aren’t left behind when you move into adulthood.

Not by a long shot.

According to a recent Harris Poll, conducted on behalf of the American Osteopathic Association, 31 percent of Americans say they have been bullied as an adult. Bullying is defined as repeated, negative behavior intended to harm or intimidate, and it frequently happens at work.

Dealing with challenging people in the workplace is a common occurrence but sometimes these interactions can be more than just unfriendly. Before you know it an interaction can turn demeaning, confrontational or even hostile. The stress caused by these encounters rarely stays at work either. It can spill over into your home life, affecting your family interactions, sleep and well-being. You may not realize it at the time, but if you’ve experienced such encounters regularly, then you are being bullied.

The negative health effects of bullying

Those who are bullied can suffer myriad negative physical and mental health effects. For example, the survey revealed respondents had suffered from one or more of the following:

* Stress (71 percent)
* Anxiety/depression (70 percent)
* Loss of confidence (55 percent)
* Sleep loss (39 percent)
* Headaches (26 percent)
* Muscle tension and pain (22 percent)
* A mental breakdown (19 percent)
* An inability to function on a day-to-day basis (17 percent)

The many faces of the problem

Identifying bullying behavior is the first step toward correcting the problem. However, bullying is not always as easy to spot as you might think. The abuse can take the form of “the silent treatment” in which a group or an individual willfully ignores or disregards another person. Victims may also be targeted by lies or rumors that harm their reputation.

Bullying can even take on a more subtle form of manipulation known as gaslighting. This tactic sees the bully undermine their victim’s confidence and make them start to question their own memory, judgment and reality.

Any of these bullying tactics can make it difficult for an individual to acknowledge that they are a victim. You may try to ignore it or think it’s “just part of work.” It’s not. The threat is very real and, in many cases, you need outside help.

A full treatment

Bullying can be more than just mentally harmful; it can damage your physical health as well. Bullying victims report suffering gastrointestinal discomfort, nausea and high blood pressure. Treating physical issues as well as the emotional damage brought on by bullying requires the ability to care for the whole person in a way that goes beyond the surface symptoms. This is precisely what doctors of osteopathic medicine (DOs) are trained to do.

Osteopathic medicine is based on the philosophy of supporting the health of the whole person by focusing on wellness and prevention. DOs believe the mind, body and emotional status all contribute to a patient’s health and each should be treated as the vital component it is. DOs are trained to listen, so if you feel you’re the victim of bullying, talk to a physician or mental health specialist about your treatment options today.

The potential threats to your health are simply too important to ignore.


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Boost home office productivity with a pre-holiday freshening

2016-10-26T10:25:00

(BPT) – You engaged in spring cleaning and organization earlier this year, but with the holidays approaching, your home office could probably stand a bit of freshening up. Fall is the perfect time to make sure your office is a well-equipped and appealing workspace that boosts your efficiency and productivity.

The home office experts at Staples offer tips to refresh your office this autumn:

Improve organization

Does it seem like all the paperwork, junk mail and other useless stuff you cleared out in spring has found its way back to your office this fall? What are you going to do when holiday clutter starts to add up, too? It’s time to take another pass at organizing your office.

Redoing everything might not be practical, but it also might not be necessary. The desk is often the nexus of chaos in any home office, but it’s also the spot where most of your work gets done. Treat yourself to an array of desktop decluttering devices such as:

* All-in-one organizers merge file holders, paper trays, and storage compartments in a single, compact desktop display.

* Desk organizers that can hold files, reference materials and supplies.

* Letter sorters which allow you to prioritize incoming and outgoing mail, so you never miss a bill payment or request for proposal.

* Pencil cups are the simplest way to ensure you’re never hunting for a pen or pencil under a mound of paperwork while a client waits on the phone.

* Storage boxes are great for hiding supplies that you don’t need to use or see all the time.

Staples offers an array of desktop organizers, including the ZigZag suite of desktop products that include the All-in-One White ZigZag Desk Organizer, the White ZigZag Letter Sorter and the White Zigzag Storage Box. Visit www.staples.com to find more organization products.

Boost security

Bills, invoices and emails, attachments and downloads — a lot of valuable data will move through your home office during the holidays. It’s important to secure information and your home office hardware and software.

Make sure your anti-virus and firewall software are up to date. If you’re not sure, consider scheduling an appointment with a technician who can assess the security of your technology. Most security software providers now allow you to enroll in an automatic renewal program so that your protection never lapses.

Don’t overlook the importance of securing more mundane threats, like paperwork that contains proprietary information. If you don’t already have one, invest in a high-quality shredder, like the Staples 15-Sheet Cross-Cut Shredder, and be sure to shred paperwork before discarding it. Old invoices, bills, customer records and even junk mail can all be a source of valuable information for criminals.

Care for your comfort

You spend a lot of time in your home office, and if the holidays are a busy season for you, you’ll likely be at your desk for extended periods. It’s important that your workspace cares for your comfort as much as facilitates productivity — and that means having good office furniture.

It may not be practical to replace a less-than-perfect desk when the holidays are bearing down on you, but swapping out your old office chair for something newer, better looking and more comfortable is an easy fix. It’s also a cost-effective way to make your home office a more productive place.

Be sure to test drive multiple chairs before choosing one. Resources like Staples have plenty of floor models for you to try before you buy. Whether you prefer light and ergonomic, like the Staples Professional Series 1500TM Mesh Chair available in a range of colors, or a more traditional look, such as the Turcotte Luxura High Back Office Chair in basic black, you can find a new chair that will give your office a whole new feeling.


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Retirement readiness: Hitting the retirement preparation sweet spot

2017-12-22T06:01:00

(BPT) – A recent study by the Center for Retirement Research (CRR) at Boston College suggests an alarming state of awareness about retirement readiness: Of surveyed households, 33 percent realize they are not well prepared, 19 percent are not well prepared but don’t know it, and 24 percent are well prepared but don’t know it.

For the Americans at risk of not being able to maintain an adequate retirement lifestyle, it’s critical to take action. For the households that are well prepared and don’t know it, they risk sacrificing a comfortable retirement. Understanding the behaviors associated with good retirement planning, in turn, can help you get a better sense of where you stand. Consider the following behaviors, which are more likely to be modeled by those who are well prepared for retirement.

Asset accumulation

A high-level approach to ensuring adequate retirement assets is to save a minimum of 10 percent of your gross income each year. You may need to save even more depending on your asset accumulation goals and how many years you have left to save before retirement.

If you would rather have a dollar goal, multiply your annual income goal by 25 to arrive at the amount you should try to save. For example, if after considering Social Security and any pension payment, you want $30,000 more of annual income in retirement, you will need to save $750,000. Lower goals mean you need to withdraw at a faster rate and increase the risk you will deplete your assets too soon.

Budgeting

Not all budgets need to detail specific spending items. Rather, you can consider yourself working within a budget if you know that each year you are saving and not creating new debt (and paying off legacy debt for your education or home). If you want to squeeze out more savings, a line-by-line review of spending may well be fruitful.

Personal debt

Many of us are saddled with personal debt from college and graduate school. This debt has become so burdensome that the customary progression to home ownership has been delayed for many. The debt has also had a domino effect on the ability to save for retirement. Paying down personal debt should be job one. Other personal debt, such as for a car purchase, should be avoided, minimized or paid down as quickly as possible. Credit card debt, which carries high interest rates, should be avoided entirely. Remember, each dollar of debt limits your ability to save for the future.

Mortgage debt

It used to be commonly accepted that you pay off your mortgage before retirement, but more and more retirees are entering retirement with mortgage debt. The old rule remains the best approach, since any indebtedness in retirement will limit your ability to react and adjust to poor investment return on your assets.

Social Security

With traditional pension plans less commonly offered by employers, Social Security has become an even more important source of guaranteed lifetime retirement income. By waiting to age 70, you can increase the benefit payment significantly, which is also the base for annual Social Security cost-of-living increases for the rest of your life. That increased Social Security benefit may also increase the benefit that a surviving spouse will receive after you die. Unless you have a health care issue that could reduce your life expectancy and no spouse who might need a spousal benefit based on your earnings record, claiming Social Security early is the greatest retirement planning mistake made.

Health care

Health care is the single greatest cost in retirement, and various studies estimate the cost to be $250,000 or more for a healthy 65-year-old couple. The cost of health care will be even greater to the extent one retires before age 65 and Medicare eligibility. Moreover, health care costs can vary and may come sooner than expected. The best plan, then, is to work until at least age 65 and understand that health care is a unique challenge in retirement. To the extent possible, utilize Health Savings Accounts and bank any unused amounts annually to build up a tax-free health care fund for retirement.

Income planning

No later than 10 years before your planned retirement, you should be translating your retirement assets into an annual or monthly retirement income stream. Start with your Social Security and any pension plan payments as your income base, and then consider how much income your other assets can safely generate. Depending on this analysis, you may want to consider purchasing an annuity to make more of your retirement income guaranteed and avoid the twin risks of poor investment return and living longer than expected.

Consider also that many of your retirement assets have an embedded tax liability. You will need to look through your retirement assets to determine after-tax income, since your food, rent and cable bills are paid with after-tax money. Only by seeing your after-tax income can you decide if you have enough to live on.

Annual financial wellness check-ups

During your early working years, you are likely to be focused on debt reduction and asset accumulation. As you get closer to retirement, you will need to focus on the strategies associated with Social Security, health care and income generation. At all times you should annually revisit your goals and make adjustments, as needed, to how much and where you are saving, how much you are spending, how aggressively you are investing, and when your target retirement date is.

Modeling such behaviors will make it more likely you will be well prepared for retirement. By doing so you will also make it more likely that you are properly assessing the state of your retirement readiness and not over- or underestimating your financial health.


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Retailers find purpose and share it with customers

2018-02-09T14:46:00

(BPT) – Ninety-six percent of Americans are now shopping online, according to a recent study from CPC Strategy.

Building meaningful connections with local communities is one way to captivate today’s consumer, says Etienne Veber, president of Field Trip Factory, a firm that helps design, schedule and promote interactive learning experiences within retail environments.

“Technology provides greater convenience and lower prices,” Veber says, “but it is not a replacement for human interactions.”

The value of purpose

When companies express a sense of purpose to their customers, it has a profound effect on confidence in the brand. Eighty-five percent of companies with a strong sense of purpose say they are backed by their communities, because they are seen as “good and helpful corporate citizens,” according to a survey by Deloitte.

Of firms with a purpose, 89 percent say clients and customers trust the quality of their products and services — versus the 66 percent of firms that do not have this sense of purpose.

One example of an interactive program comes from food retailer Giant Eagle Inc., which developed a program that connects with local school children. “Be A Smart Shopper” helps young students and their families learn about making healthy food choices.

It has been a very effective way for Giant Eagle’s retail team members to uphold the company’s common purpose to improve people’s everyday lives and well-being in a community-centered way, and more than 600,000 families have been reached across Pennsylvania and Ohio. Educators say it supplements classroom curriculum and gets students engaged.

“Our Be A Smart Shopper program is an important part of how we fulfill our commitments to education and health and wellness,” says Giant Eagle CEO Laura Karet. “Through the program, our retail team members are able to meaningfully impact how the children in our communities think about the foods they eat, and encourage involvement from the children in family meal planning.”

Expressing purpose

A retailer can build trust and loyalty by expressing values in innovative ways:

Hosting in-store classes and events: Business leaders, store managers and longtime employees, with their industry knowledge, are community gurus. With that mindset, what better way to connect with the community than to open the doors for an on-site event? Businesses are offering things like hands-on demonstrations, seminars, consultations and even heading up an ongoing club to share knowledge and help people solve their most common problems.

Championing local causes: Company values and industry knowledge are being transformed into a community asset, and resources are being directed to solving problems in the community. Reaching out to local nonprofits, being a major sponsor to make a local event even bigger and better, or paying employees for their time to volunteer are all ways a business can build a meaningful community presence.

Working with a partner: Most businesses do not have the in-house expertise to organize, plan and publicize in-house events and initiatives, which is why some turn to a trusted partner for expertise in that field. For example, as Giant Eagle planned its Be A Smart Shopper Program, Field Trip Factory took the lead with the curriculum (with input from educators), and created the online tool that makes it easy for teachers to discover the program and sign up their class for an event.

Today’s retail climate is a challenging one, due to the rise in technology. To learn more about how businesses are engaging with customers and communities, visit fieldtripfactory.com.


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How to inspire your teen to expand their horizons and find their passion

2018-02-08T06:01:00

(BPT) – With mounting pressures and expectations, the high school years can feel overwhelming — for students and parents alike. Teens grapple with questions like: Which colleges should I apply to? What should I choose as a major? What do I really want to do with my life? What if I don’t have a clue?

As a parent you naturally want to give advice and steer them in the right direction, but you also know it’s a tricky balance. It’s their life, after all, as they’ll often remind you.

So how can you help? Encourage them to explore different interests, with no strings attached. Look for activities beyond the usual choices. Research extracurricular programs at your school, in your community, even overseas so they can see the breadth of what’s out there. Expose them to a range of possibilities and see what they pick.

Does your teen already have a clear focus? Look for innovative programs that allow them to dig even deeper in real-world settings. Or maybe your son or daughter is shy or stuck in a rut and needs a gentle nudge to try something new? It’s amazing how a change of scenery can inspire students and tap hidden talents. Over time they’ll gravitate toward one thing or another, and the journey will be rich with self-discovery.

From local to global, there are many valuable paths that help spark new interests while building self-knowledge, confidence and 21st century skills along the way.

Global clubs and activities spark interest in the world at large

Most high schools offer a range of extracurricular opportunities to get involved in a topic of interest or try out something new, from sports and theater to robotics and debate. Many offer programs with an international theme as well. After-school language clubs provide a chance to practice conversational skills in a relaxed environment while joining in cooking and other cultural activities. And bonding with other language enthusiasts inspires many to want to travel to experience different cultures first-hand! Larger high schools offer more languages, from French, Spanish and German to Mandarin, Arabic and Japanese, while teens with more limited offerings can often find regional programs a bus ride away.

Model UN is another valuable program that teaches students about the world around them, and builds confidence as well as leadership and communication skills. A new activity picked up on a whim may turn into a lifetime source of joy or even a career. If options are limited at school, branch out. Urge your teen to get involved in the local community, meet new people, and bond with others who share similar interests. They’ll see what’s out there in the bigger world while demonstrating to colleges and employers that they’re engaged beyond the standard classroom requirements.

Service programs help teens gain valuable perspective

When teens offer their time and talent to nonprofits and worthy causes, they gain more than just real-world experience for their college resumes. They gain maturity, perspective, practical skills and a greater appreciation for what they’ve got. Volunteering can be customized to one’s own interests, whether it means walking dogs at an animal shelter or building a website for an environmental group. Adventurous students can take it one step further by participating in service programs abroad. Whether working to raise social awareness, lending a hand with environmental and conservation project, or mentoring underprivileged youth, teens grow exponentially during a summer far away from their usual routine.

Study abroad transforms the way a teen looks at fields of study — and life

Studying abroad is not just for college. More and more high school students are making the leap overseas for summer programs or for a semester or gap year. As many students, parents and guidance counselors have discovered, this is an opportune time to develop valuable lifelong skills, learn a new language and discover career interests in a way that is not possible in an everyday classroom environment. Perhaps the ultimate opportunity for personal growth, studying abroad also expands communication skills and helps students understand different cultures and ways of living.

Not sure study abroad has crossed your teen’s mind? Surf the web together for resources and get on mailing lists for brochures. CIEE (Council on International Educational Exchange), a nonprofit that operates high school study abroad programs in more than 30 global destinations, is a good place to start. Transported to a world far different from their own, teens find themselves fully immersed in a new topic and a foreign culture. Programs range from three weeks in the summer to a full semester or academic year.

Planning ahead is key. By involving a teacher or counselor in the discussion early on, you’ll ensure a smooth transition to and from the study abroad experience. It also gives you more time to plan finances and research scholarships to make the opportunity possible. Do your research sooner rather than later: Organizations like CIEE offer scholarships based on merit and financial considerations, but be sure to check the application deadlines so you don’t miss out.

To learn more about CIEE’s Global Navigator High School Study Abroad program and available scholarships, visit ciee.org/globalnavigators.


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5 fun ideas for creating a makerspace in your classroom

2018-01-23T08:13:00

(BPT) – A teacher’s ultimate goal is to instill a lifelong love of learning in their students. When kids are passionate about learning, the sky is the limit! Educators can support students’ creativity and natural curiosity in numerous ways, and one method getting a lot of attention recently is playful, hands-on learning.

When kids have fun and explore their interests, learning comes naturally. That’s why play has a fundamental role in the curriculum of students at any age. At the center of this playful learning movement is something called a makerspace, which is a collaborative workspace where kids can explore, create and learn by using a number of different materials and tools.

Makerspaces have appeared in libraries, schools and community centers, and when you implement one into your classroom design, you’re sure to be impressed with the results. Students will line up to use this space during free periods, making it a worthwhile investment for any grade level. To get started, consider these five tips from the educational experts at LEGO Education.

1. You can make a makerspace anywhere.

You don’t need a designated makerspace to lead a maker project. Making can happen anywhere! Many schools are opening makerspaces in classrooms, libraries, and STEM labs, but you can make a makerspace anywhere with a simple collection of materials on a classroom shelf, in a cart, or even organized on a LEGO® baseplate.

2. Mix up your media.

Makers often use mixed media to create rapid prototypes, so it’s recommend to start with a modest assortment of supplies, including:

• Paper and cardboard

• Buttons

• Fabric and fibers

• Recycled and reusable objects

• Photos

• Objects from nature

• Pencils, crayons and markers

Including mixed media allows students to unleash their imagination, and develop their creative design skills and understanding of aesthetics. You could also consider providing a ‘materials library’ of arts and crafts materials that you already have in your classroom.

3. Be inspired.

Are your students studying community? Why not design a new transportation system, building, or bridge? Does a character in a book they are reading face a challenge? Your students could design something to solve it! Studying Mars? Try designing a new colony, habitat, or exploration rover. You could even ask your students what they want to make. The opportunities are endless.

To help you deliver inspiring Maker projects, LEGO® Education has created a variety of Maker Lesson Plans for Preschool, Elementary and Middle School.

4. Start simple to help build creative confidence.

Don’t overthink how students create in the makerspace. Curiosity and imagination should guide them; there doesn’t need to be a set curriculum. However, you can use concepts in your curriculum to support makerspace activities. For example, have plenty of yarn and fabric available in your makerspace after discussing ancient textiles. Or, bring in an old radio for tinkering after you teach about radio frequencies.

5. A makerspace is what you make it.

You and your students ultimately decide how to create your makerspace. By encouraging playful learning and tinkering, you have the ability to:

• Support the social and emotional development, creativity, and academic skills of your students.

• Build knowledge, and critical-thinking & collaboration skills.

• Give students the chance to be risk takers and helping them accept and learn from their mistakes.

• Enable an environment of student choice and self-directed learning.


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Growing your business? These 3 financing mistakes can cost you big

2018-01-03T11:01:00

(BPT) – Starting a business can be tough. Growing one can be even harder.

Dr. Nacondus Gamble knows this all too well. After her optometry practice, The South Eastern Eye Center, began to establish a reputation for great patient care, Dr. Gamble decided she was ready to expand. So she began looking for business financing to open another location in Georgia. That’s when she discovered that many lenders don’t share her commitment to high-quality service.

“I called a couple of places, but I just felt like they were taking advantage of me,” she said. “It was unnecessarily harsh.”

Dr. Gamble ended up borrowing through Funding Circle, an online platform focused exclusively on small business loans. Known for its speed, transparency and customer service, Funding Circle has helped more than 40,000 businesses around the world get financing, says co-founder and U.S. managing director Sam Hodges.

Today there are more options than ever before for businesses looking to grow. While some of these newer options can offer a significant leg up, others can actually end up doing more harm than good.

So how can you get the best deal on a business loan? It helps to watch out for these three common mistakes:

1. Not understanding the true cost of your loan

When shopping for a business loan, it’s easy to become overwhelmed by fast-talking salespeople, endless strings of acronyms and confusing terms. If it’s unclear how much you’ll really pay for financing, that’s a good sign you should walk away, Hodges cautions.

A good lender will always be willing to help you calculate the Annual Percentage Rate (APR) and explain all the terms of your loan clearly. They’ll also help you understand what fees you can expect over the life of the loan — some lenders sneak in additional hidden fees, concealing them in fine print or confusing legalese, which can significantly inflate the cost.

2. Getting trapped in daily or weekly repayment cycles

Some types of business financing can seem like a godsend for a company in need of fast cash. These providers promise easy approval with quick access to funds. However, that speed can come at a steep price — in many cases, the provider takes a portion of your sales on a daily or weekly basis until the debt is repaid.

Term loans are often the better option, Hodges says. They allow businesses to borrow a set amount of money for a specific purpose, like hiring new staff or stocking up on inventory. The funds are then paid back over a set amount of time, with consistent monthly payments and no surprise fees.

3. Not knowing what you deserve

While many finance providers have your best interests at heart, the truth is that not all do. Some use irresponsible or misleading practices and take advantage of small business owners’ need for cash.

After seeing countless small businesses get stuck with credit products they couldn’t afford or understand, a coalition of small business advocates, lenders and online credit marketplaces came together to launch the Small Business Borrowers’ Bill of Rights. As the first-ever gold standard for responsible business lending, the Bill of Rights outlines the rights and safeguards that small businesses should expect from finance providers.

These include the right to transparent pricing and terms — ensuring business owners can see the cost and terms of any financing being offered in writing and in a form that is clear, complete and easy to compare with other options — and the right to non-abusive products that won’t trap you in an expensive cycle of re-borrowing. Before you take out any financing, check if your lender has signed on at ResponsibleBusinessLending.org.

Considering a loan for your business? You should know the five things business lenders typically care about when evaluating your application. To maximize your success, read more at www.Made2DoMore.com.