The themes, plug-ins, extensions, and tools provided by ecommerce platforms make it easier for enterprises to take their businesses online. You have option to choose from several ecommerce platforms according to your precise needs and objectives. Unlike other ecommerce platforms, OpenCart is open source and free. Hence, you can use this online store management system to build and run ecommerce websites without paying any monthly fees. In addition to reducing ecommerce application development cost, OpenCart also comes with features to accelerate custom web store development.It enables you to build and customize ecommerce applications using popular technologies like HTML, PHP and MySQL. Also, OpenCart makes it easier for you to build, maintain, and upgrade the web store by supporting model-view-controller (MVC) pattern. Also, it helps you to promote and sell products to more customers by supporting multiple languages, currencies, and payment gateways. You can even take advantage of the features provided by OpenCart to create a robust ecommerce website according to your precise needs.Features that Make OpenCart Compete with Commercial Ecommerce PlatformsSupports MVC PatternAs mentioned earlier, OpenCart is developed based on MVC pattern. The MVC pattern enables you to accelerate web store development by keeping the user interface and business logic layers separated. The separation further helps you to maintain the ecommerce website quickly and make changes to its source code without any hassle. At the same time, you can customize the open source ecommerce platforms according to your precise needs simply using HTML, CSS, PHP, and MySQL.User-Friendly Admin InterfaceOpenCart further comes with a simple and user-friendly admin interface. It allows you to manage multiple stores through a single admin interface. You can even use the admin interface to categorize users/user groups, and set precise access and privileges for each user. At the same time, you can use the admin interface to access important information related to customers, sales, and orders. The latest version of OpenCart also comes with an admin interface which is accessible on both computers and mobile devices.Supports Unlimited Products and CategoriesOpenCart makes it easier for you to sell a large number and variety of products by supporting unlimited products. It even allows you to organize and display the products in a structured way by creating multiple categories and subcategories. You have option to create many categories and subcategories, and assign products to individual categories. OpenCart also allows you to sell both physical and digital products. You can even boost online sales by providing the marketing features provided by the open source ecommerce platform.Helps to Drive Online SalesIn addition to facilitating sale of both physical and digital products, OpenCart further helps you to promote the products and increase online sales. The admin dashboard provided by the ecommerce platform enables you to create and monitor digital marketing campaigns from a centralized location. At the same time, OpenCart also helps you to boost online sales by implementing reward programs and improving customer journey. You can even take advantage of an integrated system provided by OpenCart to promote the products effectively through customer reviews, comments, and ratings.Supports Multiple Languages, Currencies, Payment Gateways and Shipping MethodsUnlike other commercial ecommerce platforms, OpenCart does not allow you to sell products through various online sales channels. But it helps you to sell products to customers regardless of their current location by supporting multiple language, currencies, and payment gateways. In addition to supporting thirty-five payment methods, OpenCart also allows you to set up recurring payment option for customers and sell product through subscription. At the same time, you also have option to choose from several shipping options according to the shipping address of individual customers. These options help you to sell your products in a flexible way and improve shopping experience of global customers.Choose from Many Themes and ExtensionsOpenCart is developed as a modular ecommerce platform. It allows users to customize and extend its functionality by adding specific modules. You have option to extend the core functionality of the ecommerce platforms by installing extensions for bestsellers, latest, special, manufacturer, and information. Also, you can use the Extension Installer provided by the platform to add modules without writing additional code. Likewise, you can make the web store appealing by downloading a beautiful theme from the OpenCart marketplace. At present, you have option to choose from over 13000 themes and extensions. However, some of these themes and extensions are commercial and paid.Refines Product SearchMost users nowadays love fast and responsive ecommerce websites. They even expect the website to allow them to find and compare relevant products without any hassle or delay. OpenCart enables customers to gather information about relevant products through refine search. You can crate filters to make it easier for customers to find and buy relevant products. The filters can be created just like categories. But the filters will make it easier for customers to evaluate and compare products based on a number of parameters including price, manufacturer and condition.Keeps the Ecommerce Website ResponsiveA large percentage of customers nowadays access ecommerce websites on their mobile devices. Hence, you need to make the ecommerce website accessible and look good on smartphones, tablets, and desktop/laptop computers. OpenCart is developed as a responsive ecommerce solution. It makes the web store accessible on a variety of devices by keeping it responsive. You can even enhance the mobile-friendliness of the web store by using responsive themes.On the whole, you can always consider using OpenCart as an alternative to commercial ecommerce platforms. But you must not forget that OpenCart, like other ecommerce platforms, has its own shortcomings. For instance, OpenCart lacks some of the robust features provided by other ecommerce platforms like caching and hook system. Also, it requires you to use additional plug-ins and extensions to enhance the ecommerce website’s functionality and performance. However, it has been evolving consistently to compete with other commercial ecommerce platforms. You can still consider using OpenCart build a custom ecommerce website developmnet without investing extra time, effort, and money.

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.

There are several potential financing options available to cash-strapped businesses that need a healthy dose of working capital. A bank loan or line of credit is often the first option that owners think of – and for businesses that qualify, this may be the best option.

In today’s uncertain business, economic and regulatory environment, qualifying for a bank loan can be difficult – especially for start-up companies and those that have experienced any type of financial difficulty. Sometimes, owners of businesses that don’t qualify for a bank loan decide that seeking venture capital or bringing on equity investors are other viable options.

But are they really? While there are some potential benefits to bringing venture capital and so-called “angel” investors into your business, there are drawbacks as well. Unfortunately, owners sometimes don’t think about these drawbacks until the ink has dried on a contract with a venture capitalist or angel investor – and it’s too late to back out of the deal.

Different Types of Financing

One problem with bringing in equity investors to help provide a working capital boost is that working capital and equity are really two different types of financing.

Working capital – or the money that is used to pay business expenses incurred during the time lag until cash from sales (or accounts receivable) is collected – is short-term in nature, so it should be financed via a short-term financing tool. Equity, however, should generally be used to finance rapid growth, business expansion, acquisitions or the purchase of long-term assets, which are defined as assets that are repaid over more than one 12-month business cycle.

But the biggest drawback to bringing equity investors into your business is a potential loss of control. When you sell equity (or shares) in your business to venture capitalists or angels, you are giving up a percentage of ownership in your business, and you may be doing so at an inopportune time. With this dilution of ownership most often comes a loss of control over some or all of the most important business decisions that must be made.

Sometimes, owners are enticed to sell equity by the fact that there is little (if any) out-of-pocket expense. Unlike debt financing, you don’t usually pay interest with equity financing. The equity investor gains its return via the ownership stake gained in your business. But the long-term “cost” of selling equity is always much higher than the short-term cost of debt, in terms of both actual cash cost as well as soft costs like the loss of control and stewardship of your company and the potential future value of the ownership shares that are sold.

Alternative Financing Solutions

But what if your business needs working capital and you don’t qualify for a bank loan or line of credit? Alternative financing solutions are often appropriate for injecting working capital into businesses in this situation. Three of the most common types of alternative financing used by such businesses are:

1. Full-Service Factoring – Businesses sell outstanding accounts receivable on an ongoing basis to a commercial finance (or factoring) company at a discount. The factoring company then manages the receivable until it is paid. Factoring is a well-established and accepted method of temporary alternative finance that is especially well-suited for rapidly growing companies and those with customer concentrations.

2. Accounts Receivable (A/R) Financing – A/R financing is an ideal solution for companies that are not yet bankable but have a stable financial condition and a more diverse customer base. Here, the business provides details on all accounts receivable and pledges those assets as collateral. The proceeds of those receivables are sent to a lockbox while the finance company calculates a borrowing base to determine the amount the company can borrow. When the borrower needs money, it makes an advance request and the finance company advances money using a percentage of the accounts receivable.

3. Asset-Based Lending (ABL) – This is a credit facility secured by all of a company’s assets, which may include A/R, equipment and inventory. Unlike with factoring, the business continues to manage and collect its own receivables and submits collateral reports on an ongoing basis to the finance company, which will review and periodically audit the reports.

In addition to providing working capital and enabling owners to maintain business control, alternative financing may provide other benefits as well:

It’s easy to determine the exact cost of financing and obtain an increase.
Professional collateral management can be included depending on the facility type and the lender.
Real-time, online interactive reporting is often available.
It may provide the business with access to more capital.
It’s flexible – financing ebbs and flows with the business’ needs.
It’s important to note that there are some circumstances in which equity is a viable and attractive financing solution. This is especially true in cases of business expansion and acquisition and new product launches – these are capital needs that are not generally well suited to debt financing. However, equity is not usually the appropriate financing solution to solve a working capital problem or help plug a cash-flow gap.

A Precious Commodity

Remember that business equity is a precious commodity that should only be considered under the right circumstances and at the right time. When equity financing is sought, ideally this should be done at a time when the company has good growth prospects and a significant cash need for this growth. Ideally, majority ownership (and thus, absolute control) should remain with the company founder(s).

Alternative financing solutions like factoring, A/R financing and ABL can provide the working capital boost many cash-strapped businesses that don’t qualify for bank financing need – without diluting ownership and possibly giving up business control at an inopportune time for the owner. If and when these companies become bankable later, it’s often an easy transition to a traditional bank line of credit. Your banker may be able to refer you to a commercial finance company that can offer the right type of alternative financing solution for your particular situation.

Taking the time to understand all the different financing options available to your business, and the pros and cons of each, is the best way to make sure you choose the best option for your business. The use of alternative financing can help your company grow without diluting your ownership. After all, it’s your business – shouldn’t you keep as much of it as possible?