There are a lot of benefits to businesses applying for the Employee Retention Tax Credit (ERTC/ERC). As a business owner, you could use the money to do things like upgrade equipment or offer your employees bonuses. Or, you could use the ERTC to your advantage to build a loyal customer base.
How to Take Advantage of the ERTC to Build a Loyal Customer Base
Claiming the Employee Retention Tax Credit could result in you seeing a massive ERTC refund of up to $26,000 per employee. You can use that money for all sorts of things, particularly in ways that will attract and keep a customer base.
For instance, you could use your ERTC funds to continue building retention with your employees by offering better benefits, wages, training and workshops, and more. Customers tend to appreciate it when businesses treat their employees well and may choose to return to your business versus giving their time and money to a competitor if they know you’re building a committed and cared-for workforce.
You could also choose to invest some of your ERTC refund money in marketing for your business, which will attract new customers – ones that you will hopefully keep for a long time. Putting more money toward new or current marketing campaigns may mean increased visibility for your business to reach a wider potential customer base. Those new customers could prove to be exceedingly loyal over time.
Your Employee Retention Tax Credit refund could also be put towards offering new products or services that might make your current customers buy more or consider your business for things they weren’t able to previously acquire from you. This can help build a customer base that is appreciative of you and your business and will potentially stick around if you can offer them more of what they need.
There are so many ways you can use ERTC money, and allocating those funds to attracting new customers and trying to keep them can only help your business in the long run.
Having a loyal customer base is very important for any business, but particularly for small businesses that are competing in more local markets. Word of mouth can mean everything in those cases, and you want your customers to speak highly of you and to invite others to buy your products or utilize your services. Using the ERTC to your advantage to fund initiatives that can help make that happen is a great bet for your business.
ERTC Application Assistance from Dayes Law Firm
Did you know there are just a few months left to claim the ERTC for wages from 2020? That looming deadline is just one of the reasons you may want to consider working with a trusted tax professional to claim the Employee Retention Tax Credit – and Dayes Law Firm can help.
Our team has assisted businesses in filing for over $250 million in ERTC claims to date, and our clients have already received over $25 million in ERTC funds. We are confident that we can help you determine if your business qualifies to claim this important tax credit and, if you’re eligible, that we can help you with the application process from start to finish.
Contact our firm today by calling (800) 503-2000 for a free, no-obligation consultation with a member of our team. We hope to hear from you soon!