A man sits at a wooden counter and types on a calculator while looking at the screen of a tablet. In one hand, he holds a receipt and a folder of papers sits on the counter in front of him.
Say goodbye to folders of paperwork. Among Amazon Business's offerings is a searchable archive of your invoices, receipts and other business documents. — Getty Images/Dan Rentea

Amazon currently has over 200 million Prime members worldwide, and it’s one of the most popular shopping apps in the United States. But you may be less familiar with Amazon Business, a program designed to help businesses save money and operate more efficiently.

[Read more: Amazon Small Business Academy Demonstrates Commitment to Small Business Success]

What is Amazon Business?

Amazon Business is a free program for registered businesses. You’ll click “create a free account” on the home page and go through the setup process to get started. An administrator is required to set up the account and verify the business information.

Amazon Business is a good option for businesses of all sizes—you can sign up whether you’re a sole proprietor, small business or enterprise company. Amazon Business users will have access to the following features:

  • Search hundreds of business-related products.
  • Receive business-only prices.
  • Qualify for free shipping on orders over $25.
  • Utilize the analytics dashboard.
  • Reconcile your expenses with line item transaction details.
  • Qualify for free shipping with Business Prime.

Does Amazon Business cost money?

Amazon Business is free to all registered business owners. But if you want to take advantage of Amazon Business Prime, you’ll need to pay for an account. The least expensive plan is $69 per year, and you must have a regular Prime account as well.

From there, the pricing ranges from $179 to over $10,000 per year for enterprise companies. The advantage of Business Prime is that Amazon offers a wide range of price points and features depending on the needs of your business.

[Read more: 6 Steps to Start Selling on Amazon]

With the guided buying feature, you can create policies that ensure employees only purchase approved items.

Benefits of Amazon Business Prime

Are you currently an Amazon Business member but not sure if Business Prime is worth the price tag? Here are some of the most significant benefits of Business Prime.

Save money on business purchases

The biggest reason many businesses pay for Business Prime is that it helps them save money on necessary business purchases. As a Business Prime member, you can receive generous discounts and save money on the items your business purchases the most.

Some sellers will offer additional pricing discounts for items bought in bulk. Plus, you’ll receive free one-day shipping on hundreds of items.

Apply for tax exemption

Amazon allows businesses to apply for tax exemption under its Amazon Tax Exemption Program. Amazon makes it easy to quickly determine if you qualify for the program. From there, you can apply for your tax-exempt status on any eligible purchase from Amazon or one of its affiliates.

More visibility into your business spending

Amazon provides more visibility into your business spending through its analytics dashboard. The dashboard provides a visual overview of your business’s spending patterns.

This information will help you make better budgeting and spending decisions going forward. And you can easily search your receipts, invoices and other business documents from one central location.

Receive an Amazon Business American Express card

As a Business Prime member, you’ll receive an Amazon Business American Express card. This card comes with no annual fee, and you can receive either 5% cash back or 90 days to pay interest-free on your purchases.

Extended terms for pay by invoice

Amazon also offers extended terms for pay by invoice, which means your business can receive 45- or 60-day payment options instead of the standard 30-day payment terms.

Take advantage of guided buying

At some point, you may have employees who log into your Business Prime account and purchase items for the business. With the guided buying feature, you can create policies that ensure employees only purchase approved items. You can also tag your preferred suppliers and put restrictions on specific product categories.

[Read more: How to Start Your Own Amazon Package Delivery Business]

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

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Published May 20, 2021