Having a digital presence with a fully integrated eCommerce platform is essential in today’s business environment. But bringing the many different pieces to make it work can get complicated, which is why PayPal (NASDAQ:PYPL) created Business in a Box.
According to PayPal, Business in a Box was created as an all-in-one solution by bringing together the tools you need to run your business online. Once you sign up for the service, you can launch your online store, accept payments, manage your finances, optimize your digital marketing and even get a loan.
Whether you are starting your first business or you want to expand your brick and mortar operation with a digital outlet, PayPal says this solution removes the logistics involved in making it happen.
The company has brought together some of the leading brands in digital/eCommerce presence as part of the package. This includes Shopify, Woo Commerce, Go Daddy, Xero, Intuit QuickBooks and Mail Chimp.
Getting Started with PayPal Business in a Box
First you need a PayPal Business account because it is what ties all of the tools in Business in a Box together.
You then tell PayPal about your business and the company will recommend the Box best suited for your industry. After which you will start activating your box for the service you need.
If you want to build an online store you can use the tools from Go Daddy or hire a developer to create your website and eCommerce platform to drive sales.
Using the tools from PayPal, Shopify, Woo Commerce you can accept payments online, in person, through an invoice and in your physical store with PayPal Here. You can also get Seller Protection on select transactions with limited application.
QuickBooks and Xero will help you track and organize sales and expenses, settle your accounts, and manage your finances. And Mail Chimp will provide the tools you need to launch your email marketing to grow your customer base.
If you need funding for this growth, PayPal Business Loan and PayPal Working Capital will provide loans to purchase inventory, invest in equipment, or manage your cash flow.
Since 2013, when PayPal Working Capital was launched, it has approved more than $3 Billion in loans to over 100,000 business around the world.
If all this sounds too simple, that was the goal of Business in a Box. As Shaketta Singleton, Owner, State Board Professor said, “Business in a Box includes everything I was looking for in one location. I didn’t have to search multiple websites to get the tools I needed for my online business.”
How Much Will This Cost You?
Signing up for a PayPal account is free. The fees the company charges are taken whenever you get paid for a product or service. You can take a look at the fees page to see the rates for transactions and transfer of funds.
If you need a loan from PayPal Working Capital, you can get additional information here
Photo via Shutterstock
I guess PayPal wants to help businesses who are just getting their feet wet online. Great strategy.
Having the best of “both worlds,” offers an innovative way to customize a business model in which the conventional becomes the unconventional, in order to provide the up and coming entrepreneur a path to prosperity.