Finance and Business Blog

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One of the major hurtles a small business can face today is cash flow, keeping the money coming into the business, so you have it to work with and continue to grow. And to also pay your bills and wages.

Cash flow is critical to any business, and there are some ways to help keep it flowing.

One simple way is through financing, or borrowing money as needed.

This can be through traditional means such as a line of credit, or other alternative financing methods, such as asset-based financing, or revenue-based financing. Revenue-based financing is attractive due to the fact the repayment of the loan is based on profits. If profits are good, the loan payments are higher, if profits are reduced, so is the loan payment.

Yes, they are all loans in some form and need to be repaid, but as long as the business is healthy and earning profits, it is one simple way to keep money flowing.

Another option, depending on the nature of the business is to offer pre-paid discounts.

If your business is seeking longer contracts, offering a larger pre-paid discount for taking out a longer contract makes sense. That way the buyer has an incentive to not just sign with you, but to stay with you longer. It also brings in money quicker as the buyer pays for your product or service upfront. So you get the cash.

Another good idea to keep cash flow moving is offering a payment discount if the buyer pays early. Many companies when they bill out for their services or products, the receivable is on a 30 day payment invoice. The invoice may state payable on receipt, however, many bills state Net 30, which means it is to be paid within 30 days.

Of course if you are the business that has received the bill, you are going to hold onto it and not pay it until the very last day. This is to keep your cash flow moving.

However, as the company presenting the bill, if you offer incentives for early payment, you could very well get paid much sooner than 30 days, and it will improve your cash flow.

Offering a 10% discount on the bill if paid within 10 days or 15 days, can speed up the money being sent to you.

So just a few ways to maintain the cash flow in your business.

You might not think about heating and cooling in your home often, but the truth is that without the proper cooling and heating system you wouldn’t be able to live in your house as you probably wouldn’t survive any winter. We take some things for granted, and cooling and heating definitely fall into this category.

When you think about district heating and cooling, what is the first thing that comes to your mind? Do you immediately think about the series of pipes that connect your home to a nearby place that supplies your area? I am sure that this is what it is all about. District heating and cooling is all about making sure that you always stay connected and that you never run out of heat, especially in the middle of winter when being warm can be especially important to you and your family.

You might have seen some district heating and cooling pipes before. Such pipes can be very flexible, because they can be installed either under the ground or above it. It all depends on the circumstances under which they are being placed. Usually, depending on their source, they are powered by various forms of sustainable energy solutions. Some of them most popular here include heat pumps and combined heat and power plants that are also referred to as CHP plants.

If you live in the UK I would like you to know that in the country Vital Energi is currently the most experienced when it comes to installing such systems. Nobody does the job better than they do and everybody in the industry knows about it. They have the right crew of people to ensure that every project given to them is conducted in the best way possible. This is because they have been involved in the process of installing such networks for over 25 years and their experience is bigger with each passing year.

There is one more thing I would like to add in this post. In Vital Energi it is all about making sure that no energy is lost in the process of transferring it from one place to another. Energy can sometimes be scarce in the country and we need more people and companies like Vital Energi who do everything they can to ensure that we preserve as much of it as possible. This can be accomplished by harnessing the heat that would be normally lost during the process of energy generation. Vital Energi ensures that they always create heat that is sustainable, affordable, and environmentally sound. It is up to businesses to distribute that energy responsibly without any heat loss.

Managing your human resources might not be an easy task, no matter how big or small your company is. Usually bigger companies need to take bigger care of their human resources due to the size of their business. Even if you use your Excel file to manage people working in your business, like calculating their payrolls and some sort of manual time tracking and time recording, you are very likely to make some mistakes. Excel is not a perfect solution, as it is easy to make a mistake in this program. Mistakes can cost you a lot, both when it comes to your time and money.

When processing data related to your human resources, you need to be able to do it fast and effectively. You do not want to be frustrated with your Excel files again, and you need a solution that is reliable. I am thinking here about something more practical, something such as time management software. A good example of this type of software is TimeCamp time tracking software. I have seen many human resources departments struggling with their human resources management. What they lacked was the right human resources software that can automate many important tasks. Automation is the key to almost everything in the life of businesses these days.

In today’s world of advanced technology, there is no excuse for not using a piece of software of this type. We no longer live in times when you have to do things on paper or in your Excel file. You no longer have to do things the hard way. Today, we have solutions like the solutions offered by the software I mentioned earlier in this post: fast, reliable, easy to use and affordable. Next time you look for such solutions, think about everything I have written in this post.

We all know the pains of being abroad whether it’s on a holiday or a business trip and thinking of the horrendous charges we might face for using our mobile abroad. What might start as a simple call to your loved ones to say you landed safely and find out how they are might end in you receiving a hefty bill on your return home.

Most network providers have managed to lower their costs over the years but it would still be easy to spend a few hundred between a few calls, uploading a few photos and checking your emails each morning. Some people may choose to just go cold turkey and not use their mobile, but it doesn’t need to be like this. Some companies are now allowing you to continue to use your mobile phone at a fraction of the cost by technically not making them international calls.

Think about it international calls might be expensive, but local calls aren’t so why not call international yet only pay local rates. Yes, it is possible. The newest and probably most innovative way to make cheap international calls happens when a local number is allocated to the number you are calling.

Some service providers, including Cheaper Calls, change your international contacts to local numbers so those long distance out of country calls are much cheaper and used within your inclusive minutes. You’ll usually be charged a small fee per minute for the use of this but it starts from less than 1p/ 1c a minute and can work out loads cheaper than standard international rates. Services like this one mean you can make calls any time and where for much less. If you’re away for business or think you’re going to be making a lot of calls some providers offer unlimited packages which mean you won’t be charged the admin fee per call just one price per day/ week. Making international calls on local rates isn’t a pipeline dream it’s now a reality.

Better still you can make free international calls with some calling apps. Although you will need a data connection but free Wi-Fi or even a 2G connection is suitable. Both you and the person you are calling need to have the app downloaded. The whole process if quick, easy and all importantly free.

Travelling for business can a perk where you get to travel the country or world for work. Whether you’re flying to the other side of the country or half way across the world there are plenty of ways you can reduce the costs of travelling for business.

Use frequent flyer miles

If a lot of your employees are required to travel for work make sure you keep an eye on frequent flyer miles, you might be looking at a free – or heavily reduced – flight every so often if you keep collecting points.

Be flexible with your travel times

If you’re travelling and have meetings and other things booked in don’t let this limit your travel times. If your meeting starts at 11am you might find it cheaper to fly the night before and stay over an extra night in your destination than flying first thing that morning.

Look at regional airports

Both the country you’re flying from, and the one you’re flying to will have plenty of options of airports so don’t be tempted to just go for the main one’s. You might pick up a bargain or save some pounds if you opt for a regional airport, even after travelling to and from them.

Ask for corporate discounts

When doing anything related to travel whether its flights, car hire or hotel bookings ask whether they do corporate discounts. The odd few pounds here and there will all add up especially if you and your employees are frequent travellers.

Get a roaming solution

As you’re still on business the likelihood is that you will need constant access to your phone from making and receiving calls and texts to logging online to check your emails and calendar. Depending on where you travel to your current sim provider may charge the earth for these things but WordSIM allow you to receive calls for free and their general charges are roughly 85% cheaper than other networks.

Be loyal to a travel company

If you find travelling is something which is done often within your business it will pay to be loyal to a travel company. Whether it’s a travel agent or someone who works booking flights build up a relationship with a particular person and stay loyal to them. Over time they’ll see your loyalty and you might be the first in line for discounts or be the first to be told about special offers.

Be flexible with your accommodation

You will always want to stay in the best accommodation possible but there are plenty more options than just your standard hotels and B&B’s. Check out Air B&B to be able to hire out homes and flats (a good shout if there are lots of you travelling) or look at universityrooms.com which offers global accommodation during school holidays which usually boast great locations, clean rooms and Wi-Fi.

Don’t always opt for business class

Unless the occasion calls for ‘money is no option’ or it’s a long flight business class is not always needed. So many business travellers are opting for economy class seats now to keep costs lower.

Use public transport

Getting a taxi from the airport to your accommodation can usually be justified but during your day to day travelling public transport can be as good as anything else and save you quite a bit of money.

There are lots of steps involved in getting credit card for the first time. Getting your first credit card is not an easy task. Different types of credit cards are issued by banks and credit card companies. Many questions arise in mind if you are going to purchase your credit card. These guidelines will help you in getting your first credit card.

Choose the best credit card

You have look at various factors while buying your first credit card. Each credit cards its own benefits and drawbacks. See to the credit cards that offer minimal interest, highest reward points on purchases, no annual amount and bpi credit card promos.BDO credit card in Philippines provide most of the benefits to its customers.

Ask The Credit Card Issuer About The Monthly Installments And Promo Interest Rates

Credit card has promo rates with low interests that are offered for your credit card balance for a particular period of time. If your credit card is subjected to any promo interests, know how much you have to pay monthly and how many months you have to pay to settle the amount. There are no monthly effective interest rates in BDO credit card for purchases. The interest rate in BPI credit card is free for the present month. For any balances in the previous month, 3.09% is the effective interest rate per month.

Fees and charges

Many credit card companies charge fees for various things such as membership fee, annual fee, cash advance fee etc. The annual membership fees for BDO credit cards in P75 per month. The cash advance fee is 5% amount that is withdrawn. The late payment charge is 4.5% of the overdue amount. There is no membership fee for supplementary BDI credit cards whereas the fees differ for different principal cards. The late payment is 6% of the past due amount.

Interest rates

Credit card issuers and banks offer interest rates at different instants. Some offer interest rates at the purchase dates while others offer interests from the day of billing. When we pay our monthly bills without any delay, we can avoid paying any interest. The monthly interest rates in BDO credit card is 3% for the standard master card. Bank of the Philippine islands offer interest rates at 3.40% per month.

Billing method

Every credit card has its own terms in paying the monthly bills. When do they do not pay the dues, they will be charged some penalty. In the Philippines, the people having credit card have to pay their dues monthly. They have to pay the minimum payment of 5% of the bills and settle it on the due date.

Modes of Application

There are so many ways to apply for the credit card. If you want to apply credit card for the first time, you can choose any of the ways. You can call the credit card issuers and apply for a card through phone calls. There is also a way of sending mails to the banks informing that you are in need of a new credit card. The easiest way to apply for the first credit card is through online.

If you are considering the registration of a new company or the relocation of your existing company in Singapore, you need to have in mind that most Singapore companies are listed as ‘private limited liability companies’ (private limited companies).

Before you register your company, there are some things you need to have in mind. The name must be approved before incorporation of the Singapore company can occur. There must be appointed at least one Singaporean resident director, however after that there is no limit on additional local or foreign directors that can be appointed by a Singapore company. The shareholder can be a person or another legal entity, and is allowed to be shared either 100% local or foreign. The only thing about shareholders, there is a limit, and they can be up to 50. You must also appoint a company secretary within the first 6 months of the company’s incorporation. As in many other jurisdictions, you must have a registered address for your company, but that cannot be a P.O. Box.

The types of business and companies that are allowed from the Singapore Company Law are:

• Sole Proprietorship
  whoever is Singaporean can start his/her own business by registering with the ACRA. Before the registration though, the applicant must first apply to the ACRA to make sure that the proposed name is available.
• Partnership
  starting from two up to twenty persons can combine their resources or skills to enter a partnership. The profit of the partnership will be shared by all the partners.
• Limited Partnership (LP)
  there is no limit on the numbers of the partner. It consists of general and limited partners. General partner is personally liable for all debts and liabilities; meanwhile limited partner is liable only for the agreed
• Limited Liability Partnership (LLPs)

It gives the owners the flexibility of operating as a partnership. Liabilities of the partners are limited to the amount they contributed. Partners are not personally liable for the LLP obligations.

• Local Companies

Treated as an entity separated from the members and as a ‘person’ in law. At least one Director must be Singaporean. Can be limited by shares, by guarantee or unlimited.

• Local Private Companies:
  • Private Limited Company

Limited liabilities to the amount of shares they contributed. Number of shareholders limited up to fifty.

• Exempt/Deemed Exempt Private Limited Company

It has less than twenty members, none of them being corporate entities. If exceed S$5million, it will no longer be deemed exempt.

• Gazetted Private Limited Company

Companies owned by the government which have been declared Exempt Private Company by the Minister Gazette.

• Local Public Companies:
  • Company Limited by Share

Shareholders can be more than fifty, and capital may be raised by offering shares to the public. Before making an offer of shares, a prospectus must be registered with ACRA.

• Company Limited by Guarantee

Usually formed for non-profit making purpose.

• Foreign Companies

A company incorporated outside Singapore, establishing its branch in Singapore.

• Representative Office

An entity, from which foreign companies that want to explore the viability of doing business in Singapore, can test the market before committing any investments.

Nowadays almost every area of life has a digital element to it and this is a particularly important fact to consider when it comes to your retail store. Recent research by Google found that shoppers are using their online capabilities more and more and the past few years have seen an extraordinary growth of online sales with 70% of consumers preferred to do their retail shopping online in 2013.

Online shopping offers many advantages to the consumer, including incredible convenience, easy access to price comparisons and consumer reviews, infinite choice and no pressure sales. As consumers’ confidence in buying online grows so are the gross sales as they start to make the move from smaller, less expensive items like music and movies to more substantial and expensive purchases like furniture and appliances. Last year, online retail sales reached a staggering £56 billion and according to retail observers IMRG and Capgemini they are predicted to grow by 110% in the next decade.

Three of the top ways a potential consumer researches a product before buying are online search, going in-store and viewing the retailer website and Googles research showed that 93% of mobile phone searches resulted in a purchase being made. It makes sense then – if the vast majority of your potential customers are online, then you should be too. If you want your business to measure up to your competition, it is essential that you maintain a strong, up-to-date online presence to help reinforce your brand and show what you have to offer to your target market.

The Google report also found that 97% of consumers use the web to search for local businesses, the power of the internet cannot be overlooked – all businesses should have a website. Having a strong online presence should be a crucial component of your marketing strategy, no matter what size your business is or what industry it belongs to. It doesn’t need to be “all singing, all dancing”, but it should contain all the fundamental information existing and potential customers may need like opening hours, location and contact information.

All retail stores need to have an online shop facility. The benefits of being able to offer your customers the ability to view, compare, order and pay for the items they want any time of day or night can only boost your sales. An online store will also have an expanded geographical reach and a broader potential customer base. It will not only increase visibility for your business but will allow you to target your products and services at specific groups based on buying data and algorithms.

If you haven’t already taken advantage of the potential that the internet has for your business growth there are many ways to create and maintain a strong online retail presence. Using an intuitive third party shopping cart site builder, such as Saphirea, is the easiest and simplest way to go about it. These builders contain preprogrammed software which is straightforward to use for both your business and the consumer. You can easily select product categories to display, add menu items, create pages and write content for your site.

Establishing your business in an already very competitive market means you need to get ten paces ahead of your competition. Creating leads for business and using branding and marketing techniques to your advantage means you can create a steady foothold in the world of business. This is where G3 Consultancy can help.

A marketing agency with a difference G3 Consultancy have extensive experience in all aspects of getting your name known in the world of business. Whether you need some new leads to generate new business partnerships or your branding needs a new lease of life G3 Consultancy have it covered.

Founded in 2013 G3 Consultancy has rapidly become a leading marketing agency with over 27 years worth of experience within the team. Working around the clock to create masterpieces through marketing the friendly and highly skilled team accept every challenge and thrive to turn around any business in need of help.

G3 Consultancy differentiates from its competitors by offering extensive services in all aspects of branding, advertising, marketing and lead establishments. Creativity comes naturally to the team and they can create any advertising campaign on the set of requirements you have in order for your business to grow. Having the new found brand awareness will not only work wonders for your business and reputation but it also opens up more leads and opportunities for your business.

Founder of G3 Consultancy Mr James Hopkins recently secured funds for a new office in central London emphasizes that all businesses whether they are corporate companies or up and coming businesses can all benefit extensively from the services provided. Having a team of professionals to create an advertising campaign to assist in getting new customers really makes a difference and the increase in profits prove it.

Getting noticed is what G3 Consultancy is all about. Having your own website is critical to getting new customers and G3 Consultancy can help. Crafting and hosting a web site domain is a popular marketing venture to attract customers across the globe to your business and services. With branding and effective and professional looking layouts your new G3 Consultancy website will make your business wish it had the site sooner.

With positive reviews from all clients who have worked with G3 Consultancy it isn’t hard to see why they are on demand. Taking care of branding, advertising and marketing all under one roof G3 Consultancy is the perfect partner for your business.

You have probably landed here because you are looking for some type of negotiation training. The art of negotiation is not a skill you are born with. You must learn this skill through the experience and through learning from the mistakes that others have made.

Understanding the art of negotiation involves more than just negotiation training, it involves quite a bit of science and psychology.

The Delicate Balance of Negotiation

No matter who you are, or what you do for a living, negotiation will require a basic understanding of psychology and a delicate balance between knowing what you want and understanding the person that you are dealing with.

If you have anxiety about negotiating a situation, whether it is your salary or you are an entrepreneur, you will need to understand this delicate balance. For example, people do not understand that approaching negotiation in the wrong manner, you can easily talk yourself into either a raise, or out of a job.

Whether you are trying to negotiate your current salary, or the price of a car you’ll need to understand the basic science behind negotiation.

The three rules behind negotiation

There are three basic rules of behind negotiation. These rules involve watching your focus, not being afraid to change your mind set, and being aware of your anchors.

Beware of anchors

When you are negotiating the price of a good or service, the value of the product or service that should be taken into consideration. It is important to remember that there is no fix value to any given product or service.

When you begin negotiations, the anchor of the negotiation if the manufacturer cost. After determining the manufacturers cost, you must realize that the company selling the product or negotiating the service, must make a profit. This involves doing a lot of homework for you decide to purchase the product.

After you have determined the manufacturing cost of the product or service, it is important to determine what a fair mark-up would be ensure that the company makes a profit from that good or service. The app should be your starting point a negotiation.

Pay attention to your focus

When it is time to negotiate on a fair price, make sure to choose your focus wisely. By choosing your focus wisely you can easily pay more attention to what you hope to gain from the negotiation. Research studies have proven that the more you focus on your own Financial Resources, the more you focus on what you hope to gain. As a result, you’re more likely to give up a larger percent of your resources than someone who has less resources to depend on. Therefore, your personal resources should not be involved in your thought process. This can cause you to overspend, or paying more than you personally desire for an item.

Be open to changing your mind

In a negotiation situation, do not have your mind set on a certain price, or benefit. You should always be open to changing your own personal mindset. At times, in situations where negotiation is necessary, you may eat develop the sensation pop] that the deal is not going your way. At this point, you should leave room for contemplating the situation. Do not be afraid to back off, and state that you plan to do more research on the situation at hand. Not only will this cause further contemplation on your part, it may also cause of the other party to come closer to your negotiation line.

Understanding what you are negotiating

It does not matter whether you are negotiating for a raise in pay, a new car, or an increase in direct pay as an entrepreneur, you must understand your situation and the situation of the person you are working with. Always research a true value of that good or service that you are in search of. Failing to do so, can cause you to miss out on a great deal of opportunities.