Paypal has announced a toolkit designed to help small business owners wanting to established themselves online.
“Starting an online business involves planning, making key financial decisions, and setting up an online store,” PayPal general manager and head of small business Amit Mathradas says.
“And once the business is up and running, there’s cash flow to monitor, inventory to track, and the often tedious process of finding capital to grow.”
PayPal and partners WooCommerce and Xero bring together their products to create an integrated solution giving small businesses the tools to design and manage an online store, accept payments, and get an overview of the business’ cash flow.
The solutions are linked together by a PayPal business account.
“Imagine you’re just starting a business for the first time. You know what you want to sell, what your profit margins should be, your roadmap, but you don’t have web design capabilities to develop an online store or know how to set up online or point of sale payment methods.”
“With PayPal Business in a Box, you don’t have to worry about these logistics,” says Mathradas.
Business in a Box is also targeted at established brick-and-mortar businesses looking to build an online presence and allows eligible businesses to get access to a PayPal Working Capital business loan to help fund unexpected growth.
PayPal Working Capital has helped over 115,000 businesses around the world access over US$3billion in loans and cash advances since it launched in 2013.
Businesses wanting to apply for PayPal Working Capital must have a PayPal business or premier account for at least 90 days and process between US$15,000 and US$10million within 90 days or within any time period less than or equal to 12 months.