Some industries will always prefer cash...

Technological advances have led to an almost cashless society.

However, some cash-only businesses are still thriving amidst the use of credit cards and other digital payment methods.

A cash-only business is one that accepts bills and coins only. This means no debit or credit cards, cash transfers, gift cards, or personal checks.

Cash-only businesses are often small startups that sell affordable items. For instance, you will most probably prefer to pay cash for a street painting or a babysitting service.

Similarly, businesses with low-profit margins prefer cash payments as they want to keep their costs low. Most of these businesses only require a phone, a few cash registers, and maybe one or two Carnation money counting machines to start-up. Adding a card reader to this equation may mean more startup capital and higher monthly expenses.

If you want to start a cash-only business, here are some ideas you can use.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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