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by ken 2332 days ago
Does cash make it harder to operate? That sounds backwards to me. Traditionally, small businesses love cash. The open secret is that no small business reports 100% of their cash income to the government.

I've had small business owners tell me that literally no small business could survive if it had to pay all the taxes they technically owed. There are some near me which offer significant discounts for paying cash.
1 comments
jshaqaw 2332 days ago
Unless you are evading taxes, cash has costs to handle, store, move, etc... That is why cashless businesses emerged in the first place.
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ken 2332 days ago
Yes, perhaps I was too subtle but the point of my comment was that (from what I have heard) virtually all small B&M businesses evade taxes when they're starting out.

I don't think it's coincidence that all the cashless businesses I've seen are for higher-end (and presumably higher-margin) products. Customers buying a $15 sandwich don't care about cash transactions because the difference between $15 and $17 is meaningless to them. They never pay cash anyway.

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