There’s a popular parenting podcast whose hosts hail from New York, California, and New Hampshire. The former two hosts often tease the latter about living ‘out in the country’. Especially when she broke her leg while walking her dog, and had to wait ages for a dramatic ‘mountain rescue’. But apart from its gorgeous hiking trails, New Hampshire is well-known for its role in the electoral process, cider donuts, maple sundaes, and mines.
Its largest city is Manchester, and – fun fact – New Hampshire declared independence from England before any other US state. (Their official cessation preceded the Declaration of Independence by a full six months.) Many of its residents can trace their French roots from neighboring Quebec, and some have Irish and Native American ancestry. It’s nicknamed the White Mountain state, and snow-sports are big here. It did once host the largest cotton plant in the world. Apart from cotton, New Hampshire was historically big in shoes, paper, and quarries.
Diversity in industry
Today, its industries are far more varied. Its natural attractions make tourism a big earner, but the state is also known for agriculture, electric components, rubber, plastics, and leather. The state’s tax legislation is unique as well, focusing more on property tariffs than on sales, income, and business levies. (There’s no official sales tax or income tax, and only 5% on interest and dividends.) This makes it an especially interesting space for credit card processing.
When tax is the least anxiety-inducing aspect of your business, you have more mental space to focus on profits. Older statistics emphasize New Hampshire’s low unemployment rate and high ratio of millionaires per capita, so as a business, you want to accept credit cards. Your upper customer brackets rarely deal in cash, and your working clientele have good disposable income, so they’re comfortable with credit card spending.
Pay back your customers
This customer profile is likely to be especially drawn to the added benefits of credit card payment. It boosts their credit scores, and can offer them loyalty rewards, so be sure to create one on your store cards. Being so far north, frequent flier miles and fuel discounts make great components for loyalty schemes. From a business perspective, your merchant account will help you ease any cash flow struggles as well. And it can be a good cohesive tool for diverse business.
Another fun fact is the states’ largest employers include women’s retail, so even if you’re not in the clothing business, you recognize the impact of fashion to New Hampshire’s credit card culture. It’s already well established, so it pays to cash in. And it doesn’t cost as much as you think.
For more information on how a merchant processing account will benefit your Minnesota business, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.