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Finance Planning: Introduction to Financial Management.
In this Lecture, you will be able to, Explain the importance of financial management, Describe the inter-relation among financial decisions, Explain the functional areas of modern financial management, Discuss the organization of the finance functions, Describe the objectives of financial management.

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Meaning of Business Finance - business activity which is concerned with the acquisition and conservation of capital funds in meeting financial needs and overall objectives of business enterprises...

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Financial Statement Basic

A tutorial on the basics of financial statements: the balance sheet, statement of cash flows, and income statement...

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Business Finance- An Overview

In this animation introduces the learner to the concepts of business finance, financial management...

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Finance and its Importance

The significance of finance for business finance, capital required and classification of the same as fixed capital, working capital, sources...

Leveraging Facebook Likes for Business Financial Growth

businessman on facebook

Facebook likes can be more than just a measure of popularity; they can be a powerful tool for business financial growth. By effectively utilizing social media engagement, businesses can convert likes into sales, brand loyalty, and long-term financial success.

The Intersection of Social Media and Business Finance

Social media has become a crucial aspect of modern business strategy. Facebook likes, in particular, can influence a company’s financial performance in several ways. (source: famoid.com/buy-facebook-likes/)

  • Brand Visibility: High engagement on Facebook increases a brand’s visibility, attracting more customers.
  • Customer Trust: Likes can serve as endorsements, building trust among potential customers.
  • Sales Conversion: Engaged followers are more likely to convert into paying customers.

Strategies for Increasing Facebook Likes and Engagement

Growing your Facebook likes requires a strategic approach. Here are some effective methods:

  • Content Quality: Posting high-quality, relevant content can attract more likes and shares.
  • Regular Updates: Keeping your audience engaged with regular updates and posts can maintain their interest.
  • Interactive Posts: Creating polls, quizzes, and contests can boost engagement and likes.

Case Studies: Businesses That Successfully Monetized Their Social Media Presence

Several businesses have successfully turned their Facebook likes into financial growth. Here are a few examples:

  • Starbucks: With a strong social media presence, Starbucks has effectively engaged its audience, leading to increased sales and brand loyalty.
  • Nike: Nike’s interactive and engaging posts have not only garnered millions of likes but also significantly boosted their sales and customer base.
  • Amazon: Amazon uses Facebook to promote deals and new products, converting likes into direct sales.

Tips for Converting Likes into Financial Growth

Turning Facebook likes into financial growth involves strategic planning. Here are some tips:

  • Engage with Followers: Responding to comments and messages can build a loyal customer base.
  • Promote Offers: Use your Facebook page to promote special offers and discounts, driving sales.
  • Analyze Metrics: Regularly analyze engagement metrics to understand what works and adjust your strategy accordingly.

READ ALSO: The New Frontier of Business Finance: Leveraging Social Media Influencers

Conclusion

Facebook likes can significantly impact business financial growth. By leveraging social media engagement, businesses can enhance their brand visibility, build customer trust, and increase sales.

Diverse Strategies for Business Fiscal Management

In the ever-evolving realm of business, achieving proficiency in financial management is essential for enduring success. Business owners can use numerous methods to learn how to maneuver in the intricate terrain of fiscal responsibility, such as the one from Therealworld.net.in. By adopting a proactive stance, companies can enhance their financial well-being and create opportunities for sustained growth.

Budgeting Brilliance

Effective budgeting stands as the cornerstone of sound financial management. Businesses should meticulously plan and allocate resources to ensure that every dollar spent aligns with the company’s goals. Regularly revisiting and adjusting the budget keeps the company agile in changing economic conditions.

Cash Flow Optimization

Any smart business owner has a buffer fund to help keep a good cash flow for their operations. Timely invoicing, incentivizing early payments, and negotiating favorable payment terms with suppliers are essential components of cash flow optimization. This strategy ensures the company has the liquidity required to seize opportunities and weather economic downturns.

Strategic Investments

how businesses can grow

Strategic investments are essential for business growth, requiring thoughtful consideration and thorough research to identify opportunities and manage risks.

Whether upgrading technology, expanding operations, or entering new markets, these investments should align with the company’s long-term vision and contribute meaningfully to overall sustainability. Careful decision-making and focusing on enhancing core strengths enable businesses to navigate the market confidently, fostering growth and resilience.

In essence, crafting a roadmap for the company’s future involves finding profitable opportunities and ensuring they align with the business’s core values and objectives. This strategic approach, grounded in research and a clear vision, empowers businesses to make smart choices that will eventually open new doors for continued success.

Debt Management

If used properly, debt can play a critical role in expanding your business. This is exactly the reason why effective debt management is paramount. Businesses must strike a balance between leveraging debt for growth and avoiding over-indebtedness.

Successful debt management involves negotiating favorable interest rates, consolidating high-interest debts, and having a clear repayment plan.

Risk Mitigation

One essential measure is diversifying revenue streams, ensuring that businesses rely on a variety of sources of income.

Another critical step is to prepare emergency fund. This offers a financial security for any unexpected events such as economic downturns. Additionally, investing in insurance for property, liability, or business interruption further reduces the financial impact of unforeseen events. Together, these actions contribute to a resilient financial framework, allowing businesses to navigate uncertainties with greater confidence and stability.

Technology Integration

Incorporating financial management tools and technologies streamline processes, reduces human error, and provides real-time insights. Cloud-based accounting software, expense management systems, and analytics tools empower businesses to make efficient financial decisions.

Credit Card Alchemy: Transforming Credit into Business Investment Gold

credit card alchemy

Credit cards, often seen as simple pieces of plastic in our wallets, possess a transformative power. They can be the catalyst for turning entrepreneurial dreams into reality, morphing credit into business investment gold. In the realm of business alchemy, savvy entrepreneurs have harnessed the potential of credit cards to fund and propel their ventures to new heights. Let’s delve into this alchemical process, uncovering stories of success and offering valuable tips for responsible credit utilization, investment evaluation, and maximizing returns.

Activate Your Credit Card Potential

Activating your Destiny MasterCard (destinycard.com activate here) is a straightforward process that ensures your card is ready for use. Typically, you can activate your Destiny MasterCard by calling the activation number provided on the sticker affixed to your card. Follow the automated prompts, and you’ll be prompted to enter key information such as your card number, expiration date, and possibly the three-digit security code on the back of the card.

Alternatively, some card issuers provide online activation through their website. Visit the issuer’s activation portal, log in or create an account, and follow the instructions to activate your Destiny MasterCard. Always be cautious and ensure you are using secure and official channels for activation to protect your personal information. Once activated, your Destiny MasterCard is ready to unlock a world of financial possibilities.

The Alchemical Brew: Credit Cards and Entrepreneurial Success

In the dynamic landscape of business, credit cards emerge as unexpected heroes, offering a potent elixir for those with vision and ambition. The secret lies in understanding how to unlock the latent power within those plastic rectangles. Entrepreneurs, undeterred by conventional financing avenues, have forged their paths, leveraging credit cards as strategic tools for growth.

  • Flexible Funding: Unlike traditional loans, credit cards provide a flexible source of funding. Entrepreneurs can access funds swiftly, allowing them to seize opportunities and navigate the ever-changing tides of the business world.
  • Case in Point: Success Stories: Consider the journey of entrepreneurs who turned their credit cards into launchpads for success. From covering initial startup costs to fueling expansion plans, these stories serve as beacons of inspiration for those contemplating the credit card alchemy.
    • Jane’s Boutique Delights: Jane, the founder of a quaint boutique, transformed her credit line into a flourishing business. By strategically using credit cards to manage inventory and market her products, she navigated the challenges of the retail industry, establishing her brand as a local favorite.
    • Tech Wizardry by Alex: In the tech realm, Alex utilized credit cards to fund prototype development. His startup journey showcases the pivotal role credit cards played in transforming an idea into a market-ready product, attracting investors and propelling the venture forward.

Navigating the Credit Labyrinth: Tips for Responsible Utilization

While the allure of credit card alchemy is compelling, it comes with a caveat – responsible utilization. The magic lies in the balance between risk and reward. Here are practical tips for navigating the credit labyrinth and ensuring a successful transformation.

  • Strategic Spending: Treat credit as a strategic ally. Identify areas where credit can provide the most significant impact on your business. Whether it’s marketing initiatives, inventory management, or technology upgrades, allocate credit wisely.
  • Credit Score Guardianship: Your credit score is the Philosopher’s Stone in this alchemical process. Guard it fiercely. Timely payments, responsible credit limits, and a watchful eye on your credit report are essential. A high credit score opens doors to better terms and higher credit limits.
  • Investment Evaluation Mastery: Not all investments are created equal. Conduct thorough evaluations before committing to any investment. Consider the potential returns, risks involved, and the alignment with your overall business strategy.
  • Diversification of Alchemical Portfolios: Just as alchemists sought diverse elements for their experiments, entrepreneurs should diversify their sources of credit. Relying solely on one credit card can be risky. Explore different cards with varying benefits and interest rates.

The Alchemical Harvest: Maximizing Returns on Credit Investments

The true measure of credit card alchemy lies in the harvest – the returns on your investments. Unlock the full potential of your credit-fueled ventures with these strategies.

  • Reward Harvesting: Many credit cards offer rewards programs. From cashback to travel perks, strategically choose cards that align with your business spending. This way, every transaction becomes a step closer to additional benefits.
  • Smart Repayment Alchemy: The alchemy doesn’t end with spending; it extends to repayment. Leverage interest-free periods, and aim to pay balances in full whenever possible. This not only minimizes interest costs but also maintains a healthy credit utilization ratio.
  • Relationships with Creditors: Cultivate positive relationships with your credit card issuers. Regular communication, timely payments, and responsible credit management can lead to increased credit limits and better terms.
  • Continuous Reflection and Adaptation: Alchemists constantly refined their processes, and so should entrepreneurs. Regularly assess the performance of your credit-fueled investments. Adapt your strategy based on the changing needs of your business and the evolving credit landscape.

Read Also: Financing vs Cash: Which One Is Better?

Conclusion: The Everlasting Elixir of Credit Card Alchemy

In the grand tapestry of business, credit cards emerge as the evergreen elixir, capable of transforming credit into business investment gold. By understanding the alchemical process, learning from success stories, and embracing responsible utilization, entrepreneurs can navigate the intricate web of credit and emerge victorious.

As you embark on your credit-fueled journey, remember that credit cards are not mere pieces of plastic; they are the alchemical tools that can turn your entrepreneurial dreams into reality.

The Role of Cryptocurrencies in Diversified Investment Portfolios

finance

Cryptocurrencies have emerged as a fascinating and dynamic asset class, garnering attention not only from individual investors but also from institutional players seeking to diversify their investment portfolios. In recent times, reports and commentaries from reputable financial sources like Bloomberg, CNBC, and Reuters shed light on how institutional investors are navigating the crypto landscape, integrating digital assets into their strategies. This article delves into the evolving role of cryptocurrencies in diversified investment portfolios, examining the insights provided by these influential financial news outlets. We also explore the crypto trading application landscape like the Ethereum-2-0.com.

Institutional Adoption of Cryptocurrencies

Institutional investors, traditionally conservative in their approach, are increasingly recognizing the potential of cryptocurrencies as a valuable addition to their portfolios. Reports from Bloomberg highlight a growing trend where major financial institutions are allocating a portion of their funds to digital assets, viewing them as a hedge against inflation and a means of enhancing overall portfolio diversification.

Key Observations from Bloomberg

  • Inflation Hedge: Cryptocurrencies, particularly Bitcoin, are being considered by institutions as a hedge against inflation. With concerns about rising inflation rates, institutional investors are turning to assets with a finite supply, such as Bitcoin, to preserve their capital’s purchasing power.
  • Diversification Benefits: Bloomberg reports emphasize the diversification benefits that cryptocurrencies bring to investment portfolios. The non-correlation of crypto prices with traditional asset classes offers a potential risk mitigation strategy in times of market volatility.

Insights from CNBC

CNBC, a prominent financial news network, provides additional insights into the strategies employed by institutional investors in the realm of cryptocurrencies.

  • Strategic Allocation: CNBC reports suggest that some institutional investors are strategically allocating a small percentage of their portfolios to cryptocurrencies. This measured approach allows them to participate in the potential upside while managing the inherent volatility of the crypto market.
  • Risk Management: While acknowledging the potential rewards, CNBC commentaries emphasize the importance of robust risk management strategies. Institutional investors are cautious, recognizing that the crypto market’s high volatility requires a thoughtful and disciplined approach to minimize risks.

Reuters Perspectives on Crypto Integration

Reuters, a global news organization, contributes valuable perspectives on the challenges and risks associated with institutional adoption of cryptocurrencies.

  • Regulatory Scrutiny: Reuters reports highlight the ongoing regulatory scrutiny faced by the crypto industry. Institutional investors are closely monitoring regulatory developments to ensure compliance and mitigate regulatory risks associated with their crypto holdings.
  • Market Liquidity: The liquidity of the crypto market is a crucial consideration for institutional investors. Reuters commentaries suggest that as the market matures and liquidity improves, more institutions may feel confident in increasing their exposure to digital assets.

Exploring the Crypto Trading Application Landscape

In the midst of institutional interest, the development of user-friendly crypto trading applications has played a pivotal role in facilitating broader adoption. These platforms provide institutions with the tools and infrastructure needed to seamlessly integrate cryptocurrencies into their existing portfolio management systems.

  • User-Friendly Interfaces: The emergence of intuitive and user-friendly crypto trading applications has lowered the entry barrier for institutional investors. This has made it easier for them to navigate the complexities of the crypto market and execute trades with confidence.
  • Risk Analytics: Advanced features such as real-time risk analytics and portfolio tracking offered by crypto trading applications address the risk management concerns voiced by institutional investors. These tools empower institutions to make informed decisions and monitor their crypto holdings effectively.

READ ALSO: The Business Impact of Coin Futures: Understanding the Opportunities and Risks

Conclusion: Navigating the Crypto Frontier

In conclusion, the role of cryptocurrencies in diversified investment portfolios is evolving, with institutional investors strategically incorporating digital assets to enhance overall portfolio performance. The insights from Bloomberg, CNBC, and Reuters collectively underscore the growing acceptance of cryptocurrencies as a legitimate asset class. As the crypto market continues to mature and regulatory uncertainties dimini

Branded Content: Countering the “Banner Blindness” Syndrome in Advertising

Recent studies show that consumers are inclined to pay more attention to branded content as the so-called “banner blindness” is now prevalent.Apparently, those who read branded content spend an average of forty-five seconds, which is definitely a lot longer than the average 1.6 seconds spent on viewing display ads.

That being the case, businesses are more likely to have greater advertising exposure from branded content. Statistics show that consumers regard branded content as 22x more engaging than banner ads because they contain information consumers find useful and relevant to their needs.

According to a Nielsen report, branded content outperforms banner ads in terms of brand recall. Studies show branded content increased brand recall by 86%. Compared to banner ads, brand recall was measured at only 65%. These statistical findings clearly denote that branded content spurs online interac and raises consumer interest in goods and services.

Understanding the Science Behind “Banner Blindness”

The advertising world considers “banner blindness” a real concern for today’s marketers. People have become increasingly used to ignoring display ads that click-through rates had dropped to figures lower than 0.1%. In a separate study, it was revealed that 14% of consumers who have read branded content reach out to advertisers to get additional information.

Marketers who partner with premium publishers in distributing branded content have seen greater advertising efficiency by 50%. Marketing experts explain the science behind “banner blindness” as something that relates to pattern recognition. Once consumers recognize the marketer’s pattern of linking branded content to trusted publishers, such recognition will also look into patterns that associate the publishers to those who give importance to values and reputation. “Banner blindness” therefore is a result of the absence of any relatable pattern.

Tow Service Company: Importance Of Finance

Good management of a company’s finances and accounting are key factors for its growth. Good financial and accounting management allows you to optimize costs, improve expense planning, make the business more profitable, take advantage of investment opportunities, and others.

The role of finance and accounting in a towing service company

Knowing the finances and accounting of your business will allow you to have the bases for making decisions that affect the future of your business. Many companies close day after day, shortly after opening. This is because they underestimate financial and accounting control. In this sense, they fail because all the decisions they make are not based on concrete data, but on hunches. Businesses do not work by luck but by strategy and knowledge of the market. The success of Towing Company San Jose thrives on proper decision-making based on properly documented finance and accounting. Learn from the experts in the field of towing. Find them on the maps here – https://maps.app.goo.gl/4mQCKLi5ELambD8Y7

By having better control of your finances and your company’s accounting, each decision you make will be based on specific data. This will allow you to know, for example, the resources you have, your expenses, accumulated assets, your debts, your income, etc. In this way, you will not walk blindly, but with knowledge of the current and real situation of your business. Good management of your finances and accounting will also attract investors or, perhaps, will encourage your growth through processes such as your internationalization.

towing company san jose

How can you improve financial and accounting management?

There are different measures you can take to improve your company’s financial and accounting management. For example, one solution is to implement personnel, resources, and technology to supply this area, in your own facilities. This, however, is an expensive solution that can distract you from your core business.

Another option is to acquire technological tools for administrative and accounting management and train employees who already work for you. However, that will cause you to divert more resources to an area that is not part of your core business.

And finally, a third alternative is financial and accounting outsourcing. With this solution, you just choose an external company that offers this service and hire them to take care of part or all of this aspect of your business. By opting for outsourcing, you will have specialized professionals in the field, as well as the tools and technology that facilitate and optimize your work. In exchange, you will not have to spend large sums on an implementation, but only the cost of the service you hire, for the time you have considered appropriate.

The 4 Stages of Business Partnership

Every business needs a partner to reach new heights. Partners can be business associates, investors, or advisors – the type of partner does not matter as much as their contribution to your company. Working with partners can help you achieve more than you could ever hope to achieve alone. However, partnerships aren’t always easy.

This article will introduce you to the four stages of business partnership so that you know what to expect when working with someone else like a top tier trader funding company on a project or venture.

Formation

This stage is all about moving from idea to execution. It starts when two or more people decide to partner up and ends when the partnership is fully formed. This is something that you don’t want to rush, especially if it is a startup. It’s vital that you take the time to assess potential partners at this stage.

You should evaluate the strengths and weaknesses of each partner. You should also discuss any potential risks and challenges you might face going forward. At this stage, you should also develop a partnership agreement.

Culture Shaping

After forming a partnership, you need to establish a culture that encourages growth and success. It’s important to think about the culture you have in your company and how you want it to be perceived by employees and customers. You also need to discuss how the partnership will shape that culture.

Execution

This is when the partnership comes to fruition. Partners will start to see their goals achieved, and investors will see a return on their investment. At this stage, you need to be aware that partnerships can go south. Things can and do go wrong.

So, now is the time to discuss any potential challenges the partnership might face and decide what to do if they arise. How will you deal with disagreements? How will you handle a missing deliverable or an unmet expectation? These are questions you need to discuss with your partners at this stage.

Growth Strategies

The partnership has been formed, and your goals are being achieved. Now is the time to start thinking about how you’re going to grow and scale the partnership.

Partnerships can be very beneficial when it comes to growing your business. Partners can bring new customers and revenue streams into your business. They can also help expand your marketing efforts, improve your supply chain, and address any other shortcoming your company may have.

How Businesses Can Start Accepting Bitcoin as Payment

Bitcoin Payments

 

Pay with Bitcoin?

Bitcoins are not legal tender. This also applies to the long list of other cryptocurrencies. But if you want to accept Bitcoin as an entrepreneur from traders on platforms like bitcoin360ai.com, that’s no longer a big deal.

Nowadays, in any bar, restaurant, café, or even shop, the integration of digital currencies can be implemented quickly and free of charge via blockchain technology.

Nevertheless, it is important not only to deal with the benefits but also to take a look at the possible dangers.

Interest is growing

What one of the most powerful topics that can currently be found on the Internet is?

Cryptocurrencies.

Thanks to its decentralized technology, crypto money is slowly rising to become an anchor currency away from the banking world.

Above all, Bitcoin, the mother of all digital currencies, is at the top. But also in the second row, in addition to Bitcoin and Ether, other alternatives are establishing themselves and attracting interest.

Cryptos are therefore not only a decentralized means of payment but have also become virtual investment objects. If you look at the price jumps, these currently belong to the cryptocurrencies such as Ying and Yang.

No matter whether you are a Bitcoin fan or critic – the fact that there are more and more users who rely on Bitcoin as a means of payment can no longer be ignored.

In recent years, more and more people have become involved with cryptocurrency. But many entrepreneurs are now also dealing more often with virtual currency.

Probably also because companies that accept Bitcoin are perceived as particularly innovative. In addition, you can also enjoy increased media attention.

If you want to buy a product with cryptocurrencies, for example, you have to check in advance whether the company offers such a possibility at all.

How does the virtual money get into your wallet?

There are also wallets. The term wallet comes from English and means quite simply: wallet. Just like the ones you have with you every day. Cryptocurrencies, on the other hand, are stored in a virtual wallet – the wallet.

To explore the different options of the best Bitcoin wallets An overview is a good idea. In the end, however, you have to decide for yourself. Which Bitcoin wallet is best suited for you depends entirely on your personal ideas and intentions.

 

ALSO READ: 4 Business Advantages of Tax Services Outsourcing

 

Solutions for Smaller Businesses

The simplest method?

The customer sends the amount to be paid to the company’s wallet. The process can be equated with a cash payment. Payment works via smartphone apps – such as the Blockchain.info app (Android and iOS) or the Bitcoin Wallet app (Android).

Another possibility is CoinBox. The entrepreneur enters the amount to be paid in this app, then it comes to the automatic generation of a QR code, which the customer then scans. The amount is then automatically transferred to the entrepreneur’s digital wallet.

Such solutions are especially ideal if it is a small company but still wants to offer the possibility of accepting Bitcoin as a means of payment without much effort.

Entrepreneurs should compare suppliers and products

Of course, there are also software solutions for companies.

At the moment, it almost looks as if new possibilities are being developed every day – a real competition has arisen between the developers who are busy finding the best solution for the entrepreneur as well as the customer.

Coinify is probably one of the best-known companies that offer so-called POS solutions for ordinary shops, restaurants as well as bars – the software of the Danish company can also be used for online shops.

In this case, the traders can be paid in Euros or Bitcoin or in a mix of both currencies. The app is available for Android as well as iOS.

BitPay is an international payment processor for Bitcoin. BitPay can be easily integrated into POS systems via API. An advantage is a fact that there are various tariffs so that in the end the decision remains with the company, and how the system is implemented.

POS solutions for self-service vending machines, supermarkets, retailers, and fast food restaurants are also available from Revel. It should be noted that the DOS package starts at 3,000 US dollars – for the iPads such as scanners there is a monthly fee.

The risk

Of course, if the company is dependent on cash, you should not forget that accepting Bitcoins also entails a certain risk.

If liabilities have to be serviced in the state currency, i.e. in euros, for example, the digital coins collected must be exchanged. Strong fluctuations in the prices of digital currencies, however, are not uncommon.

In the end, a profit is only made by those who have the opportunity to leave the collected crypto money on the side until the cryptocurrency Bitcoin has reached an attractive price.

Inflation is Making Dollar Stores the Winners in the Retail Trading Competition

The inflation rate since April has reached a 40-year high at 8.3%, to which the average increase in prices of food is 9.4% higher than last year’s price tags. Retail businesses currently benefitting from inflation are the chain of dollar stores located across the country.

Stock market investors should take note of this as Dollar Tree and Dollar General, the two largest owners of dollar store chains, have reported positive financial results for the first quarter. Moreover, both companies have increased their income projections for the entire year. As expected, the share prices of both dollar store companies spiked at more than 13% last May 27, 2022.

Consumer Weather Inflation Impact by Trading Down

The same cannot be said for Walmart and Target as consumer trade downs have resulted in slower sales and slow inventory turnovers. Apparently the dollar store strategy has had an edge in meeting changes in consumer behavior in meeting rising prices

In times of recession, dollar stores fit into the scenes as majority of consumers intentioanlly go back to this buying behavior cycle, Both discount stores are seeing fast movement in consumables, particularly food and essential grocery items. Dollar General Chief Executive Officer Todd Vasos said employment is still at healthy levels and across all sorts of industries that employ the consumers being served by Dollar General. That makes this inflation crisis quite different from the recession consumers experienced in the aftermath of the 2008-2009 financial crisis.

Very Important Insurance for Businesses

Not everyone feels called to be an entrepreneur who seizes opportunities when they see them coming. Some also dare to take the step into self-employment for other reasons. It is to avoid the threat of unemployment or because an idea crystallized during their studies that they now want to pursue in business life. In addition to numerous opportunities, self-employment or working as a freelancer also involves many risks.

The best way to protect yourself from entrepreneurial risks is through a well-thought-out concept. It is also through a solid business plan, a high level of commitment and smart decisions regarding boat insurance victoria.

boat insurance victoria

Every self-employed person should have this insurance aside from boat insurance

Company and professional liability insurance

Business liability insurance comes into play when customers, suppliers, employees or visitors are injured and you as an entrepreneur are liable for it. The prerequisite is that the damage occurred because you or one of your employees were pursuing a business activity. Damage caused by the company building, the production facilities or the company premises is also covered. The claims for damages covered by business liability insurance include personal injury, property damage and financial loss.

Professional as financial loss liability insurance

Professional liability insurance is compulsory for some professions, for example for lawyers, notaries and tax consultants or for auditors and appraisers. Even a small mistake in the consultation or a missed deadline can already lead to the client suffering major financial damage. For example, the lawyer can be held liable. In such special professional liability insurance, only financial losses are usually insured, but no personal injury or property damage. A comparable policy is offered as financial loss liability insurance for other professional groups.

Business interruption insurance

Is a company’s production at a standstill because of a warehouse fire, or is a volcanic eruption preventing delivery? Then the company does not earn any money, although the operating costs are incurred continuously. But not only industrial companies or agricultural businesses are threatened with financial ruin. It can also happen to the self-employed and freelancers that they have to interrupt operations for a certain period of time.

The condition for the business interruption insurance to cover the damage is that it was caused by fire, mains water and storm or by burglary. Some insurance policies also cover natural hazards as a result of flooding or landslides. In addition, operations do not have to have come to a complete standstill. It is usually sufficient if an important operational function such as purchasing, warehousing or sales is disrupted. Therefore, some insurers also refer to this insurance for small companies, the self-employed and freelancers as loss of earnings insurance.

Russia’s Imminent Invasion of Ukraine Already Causing Economic Disruptions in Europe

Since Russian invasion in Ukraine is anticipated as imminent, tension is being aggravated by increases in European the prices of electricity and natural gas. Apparently, Russia is Europe’s main source of natural gas, supplying about ⅓ of what Ukraine is exporting to other countries.

Actually, the European continent has been experiencing a growing shortage on energy-producing resources, which can lead to frequent occurrences of blackouts in the region. Especially now that the prices are pegged at five times higher than what used to be normal, since Europe’s storage facilities are currently running out of natural energy resources. This denotes that the tension between Russia and Ukraine will not only be affecting gas and electricity, but also other commodities.

Russia’s Ukraine Invasion to Cause Economic Disruptions in Europe

As Russia flexed its control over natural energy sources, increments in energy prices have caused inflation throughout Europe. The move started a cost-of-living crisis, which has forced various governments help citizens pay off energy bills.

Director of the Center on Global Energy Policy Jason Bordofff mentioned how the disruption on the energy supplies could be very hard to handle. It is even possible that we might experience true energy shortage. It is important to note that the energy crisis have already been happening even before the Russia-Ukraine invasion issue.

 

Since summer of last year, Russia has been holding back the energy resources. As a result, countries in the European continent has been relying on dirty coal just to keep the lights on. France is also experiencing numerous nuclear outages, which is the country’s largest atomic producer. Electricite de France SA warns that the output for 2022 could reach its lowest since 1990.

The tensions between the countries also backtracked the metals markets as merchants are getting ready for possible disruptions in supply. According to the London Metal Exchange, nickel and aluminum prices increased, including Palladium of which 40% of the supply comes from Russia.

The prices for services and goods in the U.K. are at its highest in the past 30 years, and will even top 7% once the limit on electricity and gas bills are lifted by April.

Campaign Against Climate Change activist John Sinha mentioned they’re facing a cost-of-living crisis of which energy plays a big part. Sinha added that people now have to choose between heating and eating as a result of of fuel poverty.

OECD Urges G20 Business Organizations to Give Importance to ESG Ratings

Last Monday, the Organization for Economic Co-Operation and Development (OECD) published a report addressed to members of the UN-founded G20, ahead of the meeting in October. Through the report, the OECD is urging corporate organizations to pay particular attention to their Environmental, Social, and Governance (ESG) ratings, in terms of quality, comparability and global transparency

The OECD report came after consultation meetings were held with members of the International Organization of Securities Commissions, with particular focus on the ESG ratings submitted in July. It became apparent that businesses in the world’s largest economies have to do more, since the different approaches for assessing ESG ratings resulted in data inconsistencies and lack of comparability.

Many businesses appear to be more focused on corporate policies and goals but with little assessment on their negative environmental impacts. The OECD says, giving greater clarity on ESG ratings can help investors decide.

According to the OECD, most investors are holding back because of inadequate data, particularly on policies that work toward achieving the net zero climate goal. Other issues include lack of clarity on policies related to carbon pricing, support for renewables and lack of product measurement tools. All these will enable investors to determine if a company’s portfolio is aligned with their specific climate goals.In most cases, ratings providers have been found to input large number on sub-category scores. The OECD is calling for greater clarity with regard to the meaning of such scores. The report added that greater international cooperation is needed to ensure that ESG and climate change-related practices will strengthen investors’ confidence in the integrity of the market.

Info About the G20 Group

G20 stands for Group of Twenty countries including the European Union as a whole. Along with other member countries, namely the UK, the US, Australia, China, Canada, Mexico, Germany, France, Italy, Russia, Saudi Arabia, South Korea, India, Japan, Indonesia and Turkey, these countries work together to address issues affecting the global economy, financial stability, sustainable development and climate change mitigation measure.

Warren Buffet’s Advice Amidst Fears of Adverse Effects of Unceasing Inflation

As consumer prices continue to rise, the “Oracle of Omaha,” billionaire business tycoon Warren Buffet gives advice on how not to fear the effects of inflation. The Berkshire Hathaway CEO who has been consistently at the top of the list of the world’s richest persons, says there are two Important things to do: one is to be great at what you do, and the other is to build your retirement savings by investing in low-cost stocks.

Prices are said to be at the highest inflation rates today, compared to the inflation rates of the past decade. Some economists fear that the continuing rise could wreak havoc on an economy that is still trying to recover from the devastating effects of the worst pandemic ever. Yet other economists and financial experts like Warren Buffet say it’s nothing to lose sleep over.

The 78-year old billionaire who is also a legendary stock market investor says inflation cannot be avoided; but if you’re great at what you do, you will always have a share of your country’s economic wealth. Mr. Buffet said that regardless of the current value of the currency, you will always earn your fair share of revenues if you’re the best in your profession whether as teacher, surgeon, lawyer or whatever occupation you’re engaged in.

Secondly, the next best thing to do to protect yourself against inflation is to invest in yourself by owning a part of a wonderful business, one whose product will still be in demand regardless of what happens to the value of the dollar; or of the currency that revolves in your economy.

Buffet’s Epic Advice When Investing in the Equity Markets

Mr. Buffet has long been recommending that when investing in shares of stocks, it’s always best to consider the low-cost index funds instead of choosing a single company as investment vehicle.

He explained that aside from being less risky, the low-cost stocks of companies whose products are forever in demand are held in every low-cost index, which automatically makes them diversified in nature. As examples, he cited major companies like Coca Cola, Google and Apple as also being included in the Standard & Poor (S&P) 500 List.

Diversified index funds have always been Mr. Buffett’s recommendations to people who are looking to grow their retirement savings. Mainly because they are the most practical investments in all times.

In a 2017 interview by CNBC, the billionaire philanthropist said

”Through thick and thin, consistently put your money in an S&P 500 low-cost index fund, especially in times of thin.”

California, Poised to Resume Economic Activities on June 15 If Infection Rates Remain Low

California Gov. Gavin Newsom has announced plans to fully resume economic activities by June 15, but will still require everyone to wear protective masks. Governor Newsom said that masks are still mandated statewide and that the state will only resume business operations if the hospitalization rates stay low and stable.

Gov. Newsom believes that it is time to make quick progress as California’s infection rate is currently one of the lowest in the country. Furthermore, California’s vaccination programs have been making progress so far, since as many as 20 million Covid-19 vaccines have been administered throughout the state.

On a nationwide level, the state is on record as having the strictest pandemic restrictions, having been the first to issue a lockdown order that required people to stay at home. There is also a complex color-coded tier system that serves as a basis for determining which businesses will be allowed to reopen at a specific capacity — the coding depended on how widespread the transmission of the virus is in the areas.

Nonetheless, the color-coded tier system is slated to end in August, albeit dependent on the developments that will transpire. If all things remain positive, it could also mean that all businesses will be allowed to reopen by June 15

Governor Newsom voiced hopes that the end of the pandemic is near, making them look forward to reopening California’s economy. They are also starting to plan for what’s next during post-pandemic, including keeping up the practices, like getting vaccinated and wearing masks.

Federal Health Officials Asks Citizens to Continue with Safety Protocols

Federal health officials led by Dr. Anthony Fauci continue to raise the public’s awareness about the importance of continuing the public health measures, especially this forthcoming summer season. Dr. Fauci, gave reminders of what happened last summer, when a significant surge of infection cases occurred, contrary to what was expected.

The White House leading coronavirus expert advises people to get vaccinated, either with two doses of Pfizer or with Moderna.

Complaints vs. Robinhood Escalates : Frustrated Customers Show Up at Menlo Park Office

As more news about complaints and lawsuits against Robinhood are being reported, frustrated customers showed up at the fintech’s Menlo Park office.

Agitated customers who want to close their account but were barred from doing so because they’ve been locked out of their Robinhood account. Since the fintech’s customer service support has not been responding to their emails, about 15 different Robinhood account holders arrived at the nondescript headquarter, looking to speak in person with a representative. However, security guards at the door were apparently under instructions not to let them in and instead gave the complainants forms to fill up.

The local police were called on to help the security guards, as some angered and frustrated customers were already acting in fits of rage; kicking and pounding on the building. According to police reports, one threw his t shirt at a security guard, while another was said to have hurled dog feces at the front door. Still, another customer vented his anger on a statue in the property by sawing the sculpture.

In recent weeks, over two dozen users of Robinhood’s trading app have filed lawsuits against the company. The most recent was filed by the parents of a college student named Alex Kearns, who committed suicide after Robinhood sent collection notices, instructing the 20-year old to pay a sum of money he owed after incurring trading losses of more than $730,000.

Clients have been trying to close their account, as the company had recently paid $65 million as civil penalty to the SEC. It was settlement for allegations of unfair trading practices, including that of not giving customers the best options for trade executions.

Most complaints have also become the subject of accusations that the company was more inclined to protect the interest of Wall Street short sellers. To prevent the prices of certain stocks from shooting up, which was against the grain of short selling techniques, Robinhood limits buying activities on some stocks.

The GameStop trading scandal however, was beyond fintech company’s control despite suspending the buying activities for the game retailer’s shares. The people behind the rally to buy the non-performing stock were a group of stock investors who discussed trading strategies at Reddit’s r/WallStreetBets forum.

One Customer Was Able to Withdraw His Money After a CNBC Interview

Rayz Rayl who said he has been using Robinhood’s free trading app for seven years, but since things have been taking a different turn, he wanted to close his account. However, he has been locked out of his account for 10 days, while not receiving any response from customer support.

Rayl told CNBC that he travelled 2,400 miles, from his home in Sellersburg, Indiana just so he could withdraw the remaining $3k in his account; needing the money to pay for his family’s daily living expenses.

After requesting the Robinhood office to comment on the interview, Rayl received notification from Robinhood’s customer service, informing him that he can now a access his account.

Amazon Launches Pharmacy Built Around PillPack’s Pharmacy OS

Amazon recently announced that Amazon Pharmacy is currently available in the U.S. except in the states of Hawaii, Minnesota, Kentucky, Louisiana and Illinois.

The pharmacy services offered were built around PillPack’s software, enabling Amazon Pharmacy to act as a prescription fulfillment center, in accordance with the health plans and health care insurance of consumers. Even more noteworthy is Amazon’s assurance that those without insurance can avail of Amazon’s Pharmacy services at discounted prices.

How PillPack’s Software Works

PillPack originated as an online pharmacy that used to rely on third-party software. However, as the demand increased for the fulfillment of medical prescriptions and delivery, the company decided to build its own software.

PillPack’s proprietary Pharmacy OS enabled the online pharmacy to simultaneously keep track of numerous medications; whilst saving time in delivering individual medications prescribed for patients; particularly those who have multiple medical prescriptions. Through Pharmacy OS, doctors can send individual prescriptions to Amazon Pharmacy in behalf of patients instead of writing each one out manually.

All medications will then be sent to patients in individual dispenser type of packaging, indicating the medical prescriptions on how and when the medicines will be taken.

In 2018, Amazon acquired PillPack including its Pharmacy OS software as part of fulfilling plans of entering the pharmacy space when the matter was first internally discussed in 2017. Now that the Amazon Pharmacy is available, the online store is on an equal footing with other well-known pharmaceutical retailers like CVS, Walgreens and Walmart.

What Amazon Pharmacy Offers

Amazon Pharmacy gives customers the option of receiving their prescription medications either by mail or by direct delivery right on their doorstep. The medications available are confined to both branded and generic drugs including frequently prescribed medications like metformin, sumatriptan, and insulin. Customers can also order birth control pills. However, Amazon Pharmacy does not dispense opioids and controlled medications classified as Schedule II drugs.

When looking to buy vitamins and supplements, customers can order these items from the Health & Personal Care section of the Amazon online store. .

The Amazon Pharmacy is also capable of accepting insurance, health savings account and other types of flexible spending accounts. This aspect allows simplification of communication between doctors, patients, healthcare providers and even insurers as it will make monitoring of insurance claims much easier.

The pharmacy service is available to customers who are over18 years old, who will be asked to furnish important information such as birthdate, gender, and other related info required by law as a means for pharmacists to authenticate prescriptions..

While seen as a useful tool during this period of health crisis caused by the COVID-19 pandemic, Amazon Pharmacy will still continue providing this service even after the pandemic has been eradicated; giving the American people a new and more convenient method of buying and receiving their prescription medications

Trump Issues Exec Order Banning WeChat and TikTok Effective Sept. 20

Trump ends the debate on whether WeChat is a safe mobile app or not, by issuing an executive order that bans the app along with Tik Tok. Despite allegations that both social media apps are spywares, the use of WeChat in North America has spread widely not only among Asian-Americans.

While many smartphone users in North America find it convenient to use WeChat, Trump’s executive order also prohibits Americans from using it. The China-developed app is quite popular because the software not only provides messaging and social media services. It also enables app-users to make electronic payments in business establishments supported by the WeChat payment processing technology. .

The ban is set to take effect on September 20,2020; taking away an efficient cashless method of paying for goods and services amidst the ongoing COVID-19 pandemic

Why Trump Disapproves WeChat?

Apparently Trump’s strong disapproval (and fear?) of WeChat stems from a test report released by The Guardian Project in 2013. The group comprised privacy software developers who discovered that chat data coming from Indian smartphone users had a way of flowing back to Shanghai. That is considering that the Indian government is currently entangled with border conflicts with China’s Communist government. The U.S. on thenother hand, has an unresolved trade war with China.

According to the The Guardian Project report, the WeChat app’s terms of service do not give assurance that chat messages will not be accessed by China-based servers. The Chief Technologist of the Canter for Democracy and Technology, Joseph Lorenzo, said the limitation that bars Chinese servers from accessing WeChat messages is only based on the company’s word, which is not legally binding. Mainly because the assurance does not form part of the legal agreement between Tencent, the company that owns WeChat and the app users.

According to Nathan Freitas, Head of the Guardian Project, inasmuch as the app has the ability to obtain data stored in users’ smartphones (e.g. photos, videos, location data), it can be considered a spyware; especially if the app user is not aware of such technological capabilities.

Still, Freitas remarked that when looking at both sides and in a less paranoid perspective, it is also easy for the U.S. government to spy on Chinese nationals using Facebook, Gmail, and similar other U.S. developed apps, including iPhone’s iMessage.

What Tencent Says in Defense of WeChat

The privacy vulnerability of American users in using WeChat as a social media app is hardly a cause for concern since WeChat is in several ways similar to Facebook. Yet different because it does not engage in selling customer information to advertisers the way Facebook does.

Tencent officials assert that the app earned a TRUSTe certification for passing the tests for maintaining users’ privacy, and has made record for being the first messaging app to have earned such recognition.

UK Fintech Volunteers : “Save My Local” Project

Concerned that many small businesses in the UK won’t be able to stay afloat due to the coronavirus crisis, UK fintechs launched the Save My Local Project.

Fintechs revolutionised the financing industry by developing tools that allow them to act as financial services firms. Doing so, has made financial products and services easily accessible to consumers and to small-to-medium scale (SME) enterprises.

Although fintech companies involved with providing funds to SMEs are themselves experiencing disruptions in their operations, some fintech players recognised the fact that SMEs, now more than ever, need business funds. Mainly because none, or less have flowed in since the UK government ordered a nationwide lockdown and stay-at-home mandate. As a result many small businesses are at risk of losing the capability to operate their business once the health crisis is over.

While help may come by way of financial assistance provided by the UK government, there are concerns that financial relief would take long to arrive; or may not suffice to keep operators afloat in the midst of the health crisis,

In light of such concerns, more than 20 fintech innovators came together to volunteer their assistance in developing a plan, and tools aimed at helping SMEs raise funds.

What is the Save My Local Scheme?

The Save My Local scheme was designed and built by a group of over 20 fintech innovators who responded to calls sent out by the fintech community. The objective was to build a website equipped with tools that will enable small businesses to generate additional business funds during the ongoing pandemic.

In less than a week, the group came out with a Save My Local website in which small business owners in the UK, in need of supplementary cash to use as working capital, had enlisted. After which, they were able to access tools to use in raising funds.

The fund-raising scheme allows small business owners to sell vouchers to their loyal customers. Selling and buying of vouchers take place at the savemylocal.org website, which ensures that customers are purchasing vouchers for the account of the business, while under a secure environment and for the purpose that such vouchers are intended.

The vouchers are redeemable by way of future purchases, serving as prepayments held in trust for customer accounts by the small business seller or service provider.

Why Trump’s Signing of Phase One Trade Deal with China is No Big Deal

Donald Trump is claiming that the Phase One of the trade deal he recently signed with China will greatly improve the U.S. economy. Economic experts though, doubt that the deal can bring significant changes from where the country was, before the 18-month trade conflict with China started.

 

The U.S.-China Trade Deficit Still Remains as an Economic Trade Issue

Although China has agreed to increase its purchases of U.S goods to as much as $200 billion in the next two years, the increase has little impact in putting to rest the the trade imbalance issue between China and the U.S.

Much of the trade deficit still exist, since the total U.S. products that will be sold to China stands to increase by only $15 billion (coming from $185 billion reported in 2017.) Whereas China still remains as the biggest supplier of retail goods, raw materials and other products to the U.S. that totaled to as much as $539.5 billion in 2018.

This means that despite the signing of the Phase One Deal, the main bone of contention in the U.S-China Trade disagreement still largely exists by over $300 billion in trade deficit. Simply stated, since the U.S. buys more from China than the latter does from the U.S., China still stands to gain more income in overall US-China trade deals.

On top of that, China has agreed to exclude certain U.S. goods impacted by the first-set of counter tariffs imposed on American goods imported by Chinese businessmen. Although the exclusions will encourage further importation of goods coming from the U.S., the tariff exclusion will be reduce costs on the part of Chinese businessmen and subsequently on Chinese consumers.

Trump Still Unclear on How Tariffs Work

However, Trump still thinks that the tariffs imposed on China are costs still being shouldered by Chinese businessmen, since he only reduced U.S. tariffs on about $120 billion worth of Chinese goods by half; from the original 15% down to 7.5%. This denotes that the 25% tariff imposed on the $250 billion worth of Chinese products imported by U.S. businesses is still very much a cost to contend with by American importers. .

Apparently, Trump still does not understand how tariffs work, as he still asserts that the burden to pay such tariffs still rests on Chinese businessmen.

He still cannot get the point that the additional cost of duty taxes that U.S. importers pay in purchasing Chinese products are  paid before they can bring take the goods out of U.S. Customs. The duties paid will be factored in as part of the cost of goods, which in turn, partly determines the retail price paid by consumers.

U.S. and China Have Contrasting Reactions to Outcome of Latest Round of US-China Trade Talks

In an effort to settle the trade dispute that has dragged on for more than a year, U.S. And Chinese officials once again met in Washington to discuss new terms and conditions that could potentially end the ongoing trade war.

According to U.S. negotiators, they have arrived at a “phase-one deal”, to which the U.S. agreed to a suspension of the tariff increase that was supposed to take effect last October 15, 2019. President Trump agreed to the partial agreement, which he said also included a deal that would have China purchasing around $40 to $50 billion U.S. agricultural products, and of addressing concerns over financial and intellectual property deals.

What the Chinese Side is Saying about the Outcome of the Recent Trade Negotiations

Gao Feng, the official spokesperson for China’s Ministry of Commerce said there is no official confirmation of the amount of agricultural purchases to which China has agreed. Although Gao confirmed that as far as agreement to place orders for U.S. agricultural products are concerned, Chinese companies would increase their purchases of U.S. agricultural products in accordance with market-based principles, particularly, the demand of the Chinese market.

 

Apparently wary of the U.S.’ reputation for backpedaling on previous agreements, the official Chinese state-owned English newspaper came out with an opinion piece entitled “Let’s nail down ‘phase one’first, before advancing to the next,”which suggests anticipation of the Trump administration’s unpredictable tendencies.

Prolonged US-China Trade War Starting to Erode the Confidence of Small Businesses

The prolonged trade war between the United States and China is fast causing an erosion in the confidence of small business operators and owners.

Although the majority, 58% percent, of those surveyed by SurveyMonkey and CNBC, are still optimistic that they will see revenue growth in the next 12 months or so, as many as 55 % also said that they expect the ongoing trade policy to eventually create a negative impact on their business by next year,

According to CNBC, the drop in the confidence of small business owners and operators has fallen to a level not seen since the survey taken in 2017. As it is, entrepreneurs of small businesses, encounter direct or indirect hits that are triggering the gradual erosion of overall confidence in the sector.

According to Survey Monkey’s senior research scientist, Laura Wronski, entrepreneurs are slowly feeling the volatility of the market and of the country’s economy. They feel the trade war policies will eventually create a negative effect on their small business by as early as next year.

Ms. Wronski added that trade war is the current issue that has been causing a huge divergence in the size of small business owners who expect Trump’s trade wars will bring either positive or negative effects by next year. She recalls that there was a time when the numbers were almost even, and at times even net positive.

In the ongoing saga of the US China Trade War, the number of business owners anticipating a negative impact is now twice as many as those expecting a positive effect for their small enterprises .

The SBE Council’s Take On the Eroding Confidence of Small Businesses

Small Business and Entrepreneurship (SBE) Council president and CEO Karen Kerrigan, said

”The longer the trade war with China continues, the “deeper and wider” the effect will be on small businesses.”… “Optimism is still relatively high, but notably. slowly receding now that we are experiencing a critical period in the U.S. economy.”

Ms. Kerrigan explained that mid and small-size businesses depend on larger businesses, in the same way that agricultural communities are dependent on farmers to sell their products.

 

She remarked that if the present administration can get a China trade deal, even one that not as comprehensive but starts with something like market access and of Intellectual Property (IP) protection, as well as get the new United States-Mexico-Canada Agreement (USMCA) through Congress, it would all have a very positive effect on the markets, investors, as well as on the small businesses.

The Balance Sheet : A Reflection of How Much a Business is Really Worth

The Balance Sheet is one of three financial reports required by tax authorities when filing annual income tax returns. The other two being the Income Statement and the Statement of Cash Flow. All three financial reports contain pieces of interrelated information that consistently show how the results of business operations during the year, changed the financial conditions of a business entity.

The Income Statement presents a summary of how much of the business resources were used to generate income; whilst culminating with a bottom line figure that will result in a net increase (Net Income) or decrease (Net Loss) in the net worth or equity of the business.

The Statement of Cash Flow on the other hand, presents a reconciliation of the financial information reflected in the Income Statement with those appearing in the Balance Sheet.

 

That being the case, the Balance Sheet will provide a proven summary of the assets and liabilities of the business after the result (Net Profit or Net Loss) of the recent year’s operation has been taken into consideration

Important Financial Information Provided by the Balance Sheet

The bottom line figure (Net Income or Net Loss) presented by the Income Statement will cause a change in the capital or equity invested in the business. Net Income will naturally result in an increase; conversely, a Net Loss will cause a decrease. This particular aspect is shown as a sub-summary under the Capital or Stockholders’ Equity Section; .

Capital, Beginning or Stockholders’ Equity Beginning as of Jan. 01, 2019 —– xxx
Add: Net Income Realized or (Net Loss) Incurred in Year 2019 ——————- xxx or (xxx)

Capital End or Stockholders’ Equity End as of December 31, 2019 ————– xxx

Determining if the Increase in Capital Improved the Financial Condition of a Business

A financial reviewer will analyze if the resulting increase in capital or equity improved the financial condition of a business entity. This can be done by determining the Working Capital as of statement period, by deducting the Total Current Liabilities from the Total Current Assets. A positive Working Capital indicates growth in capability, while a negative Working Capital means there is capital or funding deficiency that must be addressed.

A negative Working Capital denotes that the business is not liquid. It indicates that its Current Assets, such as Cash, Inventory, Accounts Receivable and Marketable Securities will practically be used in paying off financial obligations that will fall due within the year of operation. Necessary expenses therefore to continue business operations for the next year will rely on Accounts Receivable collections, from cash generated by next year’s selling activities, or from sale of Marketable Securities. Such condition requires a thorough review of how business assets are being used, to determine if adjustments in spending will reduce the Working Capital deficit.

If business resources are not enough, the owner/s may have to infuse additional funds to increase the Working Capital.

In the event that the owner or the stockholders are unable to raise additional capitalization, the business entity may be constrained to secure a short-term loan in order to stay liquid. Securing money by way of a loan though, does not solve the Working Capital deficit. It will in fact result in an increase in liability instead of capitalization.

Income Statement : A Report of the Net Profit Yield and More

Not a few have ventured into running a business enterprise without fully comprehending the importance of financial reports as tools for managing business finances. Often times, they perceive financial statements as mere reportorial requirements for taxation purposes or for getting a loan application approval.

One should stop to think that if such reports are important to tax bureaus and to lending institutions, then it is all the more important for entrepreneurs to fully comprehend what financial reports convey. Financial reports, such as the Income Statement, the Balance Sheet and the Cash Flow Statement serve as guides on how to effectively manage the financial conditions of a business.

If for financial management purposes, requiring the preparation of monthly reports is a best practice to consider.

What Does the Income Statement Convey?

The Income Statement may seem easy to comprehend as it merely summarizes the total cash revenues generated and the total operating expenses incurred for a certain period. First off, an Income Statement always covers a specific period, for a month at the least, for a quarter or semi-annual period or for a year.

The Income or Revenue is at first stated as Gross Income or Gross Revenue, which means the sum of all cash received as evidenced by official sales receipts issued during the period covered. The Gross Revenue will then be adjusted by deducting any Unearned Income and the the total Direct Costs, to arrive at the Gross Profit. Unearned Income is revenue already received but recognizable as income only on some future period.

In a simple trading firm, Direct Costs usually relate to the Cost of Goods or Merchandise Sold for the period. The Gross Profit therefore represents the markup yield.

The next goal is to determine the Net Profit, which is achieved by deducting the Total Operating Expenses from the Gross Profit, including non-cash items like depreciation and interest expense amortizations. The bottom line figure after the Net Profit is the Net Profit After Tax, being the actual amount that will increase a business entity’s Net Worth.

In cases where the Total Operating Expenses is greater than the Gross Profit, then a Net Loss was incurred. This calls for a deeper examination of the composition of the Total Revenues reported, and for an analysis of the proper matching of all costs and operating expenses deducted from the Gross Revenue.

Some expenses may have been overstated because part of expense values are applicable as deductions for the next periodic report. In other cases, Net Loss is incurred by failing to consider the overall overhead costs it would take to sell the goods.

Actually there are several other information that can be revealed by correlating Income Statement values with those presented in the Balance Sheet and the Cash Flow Statement.

Bitcoin Laundry: A Closer Look at Anonymity and Privacy in Financial Transactions

Pile of Bitcoins on a black surface

The desire for privacy and anonymity in the world of cryptocurrency, where transactions are recorded on a public ledger, has led to the rise of services commonly known as “Bitcoin laundry” or “Bitcoin mixing.” These services play a crucial role in enhancing user privacy in financial transactions, offering a level of anonymity that traditional banking systems often struggle to provide. In this article, we will delve into how Bitcoin laundry services work, the implications for user privacy, and the considerations for businesses operating in this evolving landscape.

Understanding Bitcoin Laundry:

Bitcoin laundry services function by disrupting the connection between the sender and recipient addresses, complicating the tracing of fund flow. When users utilize a Bitcoin laundry service, their coins undergo mixing with those of other users, creating a situation where tracing the original source becomes exceedingly difficult. This intricate process involves multiple transactions and the application of sophisticated algorithms to obscure the transaction history.

Enhancing User Anonymity:

The primary goal of Bitcoin laundry is to enhance user anonymity by severing the identifiable connection between a wallet address and the entity behind it. In traditional Bitcoin transactions, each transaction is recorded on the blockchain, allowing anyone to track the movement of funds. Bitcoin laundry disrupts this transparency, providing users with a layer of privacy that is often deemed essential in the digital age.

Implications for User Privacy:

  1. Confidential Financial Transactions: Users leveraging Bitcoin laundry services can conduct financial transactions with a higher level of confidentiality. This is particularly appealing to individuals who prioritize keeping their financial activities private.
  2. Protection Against Surveillance: In regions where financial surveillance is stringent, Bitcoin laundry services provide a means for individuals to protect their financial privacy. This is especially relevant in jurisdictions with strict financial regulations.
  3. Mitigating the Risks of Doxxing: Users concerned about doxxing, where private information is publicly disclosed, find solace in the anonymity offered by Bitcoin laundry. It adds a layer of protection against the potential misuse of personal information.

 

ALSO READ: The Business Impact of Coin Futures: Understanding the Opportunities and Risks

 

Considerations for Businesses:

While Bitcoin laundry services provide individuals with a tool to enhance their financial privacy, businesses operating in the cryptocurrency space need to navigate this landscape carefully.

  1. Compliance with Regulations: Businesses must ensure that their operations comply with the regulatory requirements of the jurisdictions in which they operate. Understanding the legal landscape surrounding privacy-focused services is crucial to avoid regulatory challenges.
  2. Risk Mitigation: Businesses need to assess the potential risks associated with Bitcoin laundry, such as the heightened risk of facilitating illicit activities. Implementing robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures is essential.
  3. Educating Users: Transparent communication with users about the risks and benefits of using Bitcoin laundry services is vital. Providing educational resources and promoting responsible use can help users make informed decisions.

Conclusion

Bitcoin laundry services play a pivotal role in enhancing user anonymity and privacy in financial transactions. While these services offer individuals a tool to navigate the digital financial landscape more privately, businesses must tread carefully to ensure compliance with regulations and mitigate associated risks. As the cryptocurrency space continues to evolve, finding a balance between privacy and responsible use becomes imperative for both users and businesses alike.

Finance for Entrepreneurs: Navigating Success with Trading Platforms and Expert Brokers

Trading in coin futures exchange

Entrepreneurs, the architects of innovation and business visionaries, are constantly seeking ways to propel their ventures to new heights. In the dynamic landscape of finance, integrating trading platforms and collaborating with expert brokers can be game-changers. In this fast-paced realm, the key to unlocking opportunities lies in accessing an account with trusted brokers like Exness.

Understanding the Entrepreneurial Finance Landscape

Entrepreneurs, by nature, are risk-takers and visionaries. As they embark on their business journey, understanding the intricate dance of finances becomes crucial. It’s not merely about managing budgets and expenses; it’s about leveraging every financial avenue for strategic growth.

The Power of Trading Platforms

Seamless Integration of Finance and Technology

Entrepreneurs can now seamlessly integrate their financial strategies with cutting-edge technology through trading platforms. These platforms serve as the nexus between their business objectives and the dynamic world of global markets. Here’s how entrepreneurs can harness their power:

  • Real-time Market Insights: Stay ahead of the curve by accessing real-time market data. Trading platforms empower entrepreneurs with insights into market trends, enabling informed decision-making.
  • Diversification Opportunities: Expand your financial portfolio effortlessly. With a few clicks, entrepreneurs can diversify their investments, mitigating risks and maximizing potential returns.
  • User-Friendly Interfaces: No need to be a finance expert. Most trading platforms offer user-friendly interfaces, ensuring that even those with minimal financial knowledge can navigate the markets effectively.

The Role of Expert Brokers in Entrepreneurial Success

Navigating Complexity with Professional Guidance

While trading platforms provide a robust foundation, the expertise of professional brokers adds an invaluable layer to an entrepreneur’s financial strategy. Here’s why entrepreneurs should consider collaborating with expert brokers:

  • Tailored Financial Advice: Every business is unique, and so are its financial needs. Expert brokers provide tailored advice, aligning financial strategies with the specific goals and challenges of the entrepreneur.
  • Risk Mitigation: Navigating the financial landscape involves risks. Expert brokers act as seasoned navigators, helping entrepreneurs steer through turbulent times and make well-informed decisions to mitigate risks effectively.
  • Network and Insights: Beyond executing trades, brokers bring a wealth of industry insights and a vast network. Entrepreneurs can tap into this knowledge base to gain a competitive edge and anticipate market trends.

Tools and Resources for Entrepreneurs

Building a Robust Financial Arsenal

To thrive in the world of entrepreneurial finance, having the right tools is paramount. Here’s a curated list of resources entrepreneurs can leverage:

  • Educational Platforms: Stay informed and empowered with online courses and educational platforms tailored for entrepreneurs diving into the financial realm.
  • Financial Planning Software: Streamline budgeting and financial planning with specialized software. These tools offer clarity and organization, allowing entrepreneurs to focus on strategic decision-making.
  • Market Analysis Tools: Enhance market intelligence with sophisticated analysis tools. These tools go beyond the basics, offering in-depth insights that fuel strategic financial moves.

READ ALSO: Unlocking the Golden Opportunities: A Beginner’s Guide to Investing in Gold for Financial Growth

Conclusion: Charting a Course for Financial Success

In the pulsating heart of entrepreneurship, the fusion of finance, trading platforms, and expert brokers creates a symphony of opportunities. Accessing an account with trusted brokers is the key that unlocks these possibilities, offering entrepreneurs a passport to navigate the financial landscape with confidence.

As you embark on this financial journey, remember that it’s not about the complexity of financial jargon but about the power of informed decision-making. By integrating the right tools, collaborating with expert brokers, and embracing the possibilities of trading platforms, entrepreneurs can steer their ventures toward unprecedented success in the dynamic world of finance.

Louisiana Car Accidents and Why a Lawsuit Funding is Often Needed

Louisiana’s Statistically High Rate of Car Crashes in 2021

car accidentBased on the 2021 report of the Insurance Institute for Highway Safety (IIHS), Louisiana’s fatal crash incidents during the year was 1.78 for every 100 million vehicle miles travelled. Driver error that caused injury or fatality was due to negligence or failure to apply proper amount of care while behind the wheel. The IIHS report also stated that drunk driving was the leading cause of fatal car accidents in the state.

Other causes of car accidents in Louisiana include speeding especially in bad road and weather conditions, distractions such as texting and talking, as well as feelings of frustrations arising from delays caused by traffic jams.

How to Proceed with Filing a Personal Injury Lawsuit in Louisiana

personal injury lawsuitIf you find yourself involved in an automobile accident in Louisiana and you want to file a lawsuit to claim compensations for the damages you suffered, it would be best to get the services of a reputable personal injury attorney. Choose one who can help you understand the complexity of the legal aspects of personal injury lawsuits to claim settlements in Louisiana.

Although insurance companies pay proceeds of insurance coverages, the injured party of a collision can seek compensation for the other compulsory damages such as medical costs, loss of income or wages, as well as for the substantial physical and emotional pain and suffering caused by the car crash incident.

However, one of the important Louisiana laws related to the filing of a personal injury lawsuit is the one-year statute of limitations. This rule limits the period within which the injured party can file a lawsuit to pursue damage claims immediately following the car accident.

Louisiana is a Tort State As Far as Awarding Compulsory Damage is Concerned

A competent personal injury attorney can help a car crash victim navigate the complex process of claiming economic and non economic damages, Yet it’s important to understand that Louisiana is a “tort” state and not a no-fault jurisdiction for car accidents.

A personal injury victim can hold the other driver responsible for paying damages only if it has been proven beyond reasonable doubt that the latter had caused the car crash. Apparently, pursuing claims for damages by way of a personal injury lawsuit could turn into a long drawn out process that might eat up one’s savings.

Providentially, there are lawsuit funding companies in Louisiana that provide cash assistance for this purpose when needed.

Lawsuit Funding Companies in Louisiana

Getting funding support from a lawsuit lending company during an ongoing personal injury lawsuit, will make a car crash victim more confident in expecting a favorable outcome in terms of settlement awards. Still, there is no guarantee that the results will be favorable since the defendant’s
lawyer will also try to disprove that his client is not at fault.

If the personal injury victim fails in his bid to collect a settlement for compulsory damages, the lawsuit funding company will not hold him liable for the lawsuit loan previously awarded.

The arrangement is risky on the part of the lawsuit funding company but this can be compensated by the fees and interest charges that would have applied as part of the deal.

The New Frontier of Business Finance: Leveraging Social Media Influencers

social media

In business and finance today, success hinges on adaptability and innovation. As the digital realm continues to reshape our economic landscape, the fusion of traditional financial strategies with the influence of social media platforms like TikTok has emerged as a potent force. Welcome to the dynamic world of social media and social media views where finance and social media influencer marketing converge to drive growth and success.

The Social Media Revolution

In the age of the internet, social media has become an integral part of our lives. Platforms like Facebook, Instagram, Twitter, and TikTok have not only revolutionized the way we connect with friends and family but have also transformed the way businesses operate. However, to truly appreciate the significance of TikTok views in the world of business finance, we must first understand the unique nature of social media.

The Power of Social Media

Social media platforms are virtual ecosystems teeming with diverse content, cultures, and communities. TikTok, for instance, is a short-form video platform that boasts over a billion users worldwide. Users, affectionately known as “TikTokers,” create, share, and engage with a wide array of content, from entertaining dances to informative tutorials and everything in between. The platform’s algorithm-driven feed ensures that content reaches the right audience, making it an ideal playground for businesses aiming to connect with their target market.

The Rise of Social Media Influencers

One of the most remarkable developments in the social media sphere is the emergence of influencers. These individuals, often with niche expertise or charismatic personalities, have amassed substantial followings on platforms like TikTok. Their ability to capture and hold the attention of thousands or even millions of users has not gone unnoticed by businesses.

Who Are Social Media Influencers?

Social media influencers are content creators who wield considerable influence over their followers’ opinions and purchasing decisions. They build trust through authentic, engaging content that resonates with their audience. From fashionistas offering style tips to gamers showcasing their skills, influencers cater to a wide range of interests. This presents a golden opportunity for businesses looking to tap into pre-existing communities of potential customers.

TikTok Views: A Currency of Influence

Now that we understand the essence of social media and the role of influencers, let’s delve into the heart of the matter—TikTok views. In the context of TikTok, views represent more than just a numerical metric; they symbolize the reach and impact of content. A single TikTok video can accumulate millions of views, instantly catapulting both the creator and the featured product or service into the limelight.

The Virality Factor

TikTok’s unique algorithm plays a pivotal role in the virality of content. It tailors users’ feeds based on their preferences and interactions, ensuring that engaging videos receive maximum exposure. This means that a well-executed marketing campaign with the right influencer can quickly go viral, resulting in an avalanche of TikTok views and, subsequently, increased brand awareness.

The Business Finance Nexus

So, how does this all tie into business finance? The answer lies in the symbiotic relationship between influencers and businesses, powered by TikTok views.

Influencer Marketing

Influencer marketing is the practice of collaborating with influencers to promote products or services. Businesses provide influencers with their offerings, and in return, influencers create engaging content that showcases these products to their followers. The magic happens when this content garners TikTok views, as each view represents a potential customer’s exposure to the brand.

Return on Investment (ROI)

Traditional marketing channels often struggle to quantify their return on investment. However, the beauty of TikTok views and influencer marketing is that the data is readily available. Businesses can track the performance of their campaigns in real-time, measuring the impact of each view on their bottom line. This level of transparency empowers companies to fine-tune their strategies and allocate their marketing budgets more effectively.

Read also: Branded Content: Countering the “Banner Blindness” Syndrome in Advertising

The Road Ahead

As we navigate the ever-changing landscape of business finance, it’s clear that TikTok views and social media influencer marketing are here to stay. The partnership between finance and social media is no longer a novelty; it’s a necessity for businesses seeking to thrive in the digital age. By leveraging the power of influencers and the allure of TikTok views, companies can forge stronger connections with their target audiences, driving growth and success like never before.

In conclusion, the integration of TikTok views and influencer marketing represents a new frontier in business finance—one that rewards creativity, authenticity, and innovation. As businesses continue to adapt and harness the potential of social media, the possibilities are limitless. So, whether you’re a seasoned entrepreneur or a budding startup, remember this: in the world of business finance, the future is digital, and TikTok views are your ticket to success.

Unlocking the Golden Opportunities: A Beginner’s Guide to Investing in Gold for Financial Growth

gold investments

People must explore diverse investment opportunities. While numerous options are available, gold, especially in the context of gold schemes in Hyderabad, has long been regarded as a reliable and valuable asset. This beginner’s guide aims to shed light on the lucrative world of investing in gold and its potential for financial growth. Whether you are new to investing or seeking to diversify your portfolio, understanding the fundamentals of gold investment can open doors to golden opportunities.

Why Gold is a Promising Investment

Gold, known for its intrinsic value and historical significance, has stood the test of time as a reliable investment. Here’s why it holds immense promise for investors:

  1. Stability in Volatile Times. During economic downturns or periods of uncertainty, gold has historically demonstrated its ability to retain value. Its price often moves inversely to the stock market, making it an attractive option for diversification and hedging against market volatility.
  2. Preserving Purchasing Power. Gold is a proven choice if you’re looking for an investment that can maintain its value over the long haul. Unlike fiat currencies which can be easily devalued by inflation, gold has stood the test of time as a reliable store of value. Historically, it has shown consistent growth and appreciation, making it an attractive option for investors seeking stability and security in their portfolios.
  3. Tangible and Universal. Gold is a physical asset you can touch and hold unlike other investments like stocks or bonds. Its universal appeal makes it highly liquid, allowing for easy conversion to cash when needed.

Different Forms of Gold Investment

When considering investing in gold, there are various avenues to explore. Here are some common forms of gold investment:

  1. Physical Gold Purchasing physical gold in coins or bars allows you to own the tangible asset. These can be acquired from reputable dealers or even through authorized online platforms.
  2. Gold Exchange-Traded Funds (ETFs) Gold ETFs provide a convenient way to invest in gold without the need for physical possession. These funds aim to track the price of gold and can be bought and sold on stock exchanges, offering flexibility and ease of trading.
  3. Gold Mining Stocks Investing in gold mining companies is another way to gain exposure to the gold market. When the price of gold rises, these stocks tend to perform well, as the value of their reserves increases.

Factors to Consider Before Investing in Gold

Before diving into the world of gold investment, it’s essential to keep a few key factors in mind:

  1. Research and Due Diligence Thoroughly research the market, understand historical trends, and stay informed about current events that may impact gold prices. Seek advice from financial professionals to ensure your investment aligns with your financial goals and risk tolerance.
  2. Diversification While gold can play a significant role in diversifying your investment portfolio, it’s crucial not to put all your eggs in one basket. Consider a well-balanced portfolio that includes other asset classes for optimal risk management.
  3. Storage and Security If you opt for physical gold, make sure you have a secure storage solution in place. Whether it’s a safe at home or a safe deposit box at a bank, protecting your gold from theft or damage is of utmost importance.

Read also: The Best Types of Businesses for Entrepreneurs

Conclusion

Investing in gold can be an exciting and profitable endeavor for those looking to secure their financial future. Its enduring value, stability during uncertain times, and potential for growth make it an attractive asset class. By understanding the different forms of gold investment, conducting thorough research, and diversifying your portfolio, you can unlock the golden opportunities that investing in gold presents. Remember, knowledge and careful consideration are the keys to making informed investment decisions.

In this fast-paced world, where financial markets fluctuate and trends evolve rapidly, investing in gold can provide a stable and reliable foundation for your investment journey. So, embrace the golden opportunities that await you and embark on your path to financial growth through gold investment.

The value of investments can fluctuate, and it’s important to consult with a qualified financial advisor before making any investment decisions.

The Business Impact of Coin Futures: Understanding the Opportunities and Risks

Trading in coin futures exchange

 

Coin futures exchanges have become an increasingly popular way for traders and investors to speculate on the future price of cryptocurrencies. With the growing interest in cryptocurrencies, many businesses have started to explore the potential implications and benefits of coin futures exchanges (코인선물거래소). In this article, we will delve into the various business implications of coin futures exchanges and how they can impact different sectors of the financial and technology industries.

First, let’s define what a coin futures exchange is. A coin futures exchange is a platform where traders can buy and sell futures contracts that give them the right to buy or sell a cryptocurrency at a specific price in the future. This allows traders to take a position on the future price of a cryptocurrency without actually owning the underlying asset.

One of the main business implications of coin futures exchanges is the increased liquidity they provide to the cryptocurrency market. By providing a platform for traders to speculate on the future price of cryptocurrencies, coin futures exchanges increase the number of participants in the market. This increased liquidity makes it easier for traders to buy and sell cryptocurrencies and can help to reduce the volatility of their prices. This can be beneficial for businesses that deal with cryptocurrencies as it makes it easier for them to manage their exposure to the crypto market.

Another business implication of coin futures exchanges is the increased institutional involvement in the cryptocurrency market. With the increased liquidity and stability provided by coin futures exchanges, many institutional investors have started to take a closer look at cryptocurrencies. This increased institutional involvement has helped to increase mainstream acceptance of cryptocurrencies and has led to the development of new products and services in the crypto space.

 

ALSO READ: How Businesses Can Start Accepting Bitcoin as Payment

 

Coin futures exchanges also have the potential to drive innovation in the cryptocurrency and technology sectors. By providing a platform for traders to speculate on the future price of cryptocurrencies, coin futures exchanges create a market for new and innovative uses of cryptocurrencies. This can encourage businesses to develop new applications and services that take advantage of the unique features of cryptocurrencies.

Nevertheless, there are various challenges that businesses must take into consideration when dealing with coin futures exchanges. One of the prominent challenges is the regulatory void in the cryptocurrency sector which can make it challenging for businesses to guarantee the safety and reliability of their operations. Moreover, the cryptocurrency prices being highly volatile can make it challenging for businesses to control their exposure to the crypto market.

In conclusion, the business implications of coin futures exchanges are complex and multifaceted. While they offer many benefits, including increased liquidity, institutional involvement, and innovation, they also come with some challenges that businesses need to be aware of. As the cryptocurrency market continues to evolve, it will be important for businesses to stay informed about the latest developments in the field and to be proactive in addressing any potential challenges that may arise.

How To File An Insurance Claim?

What Is an Insurance Claim?

When you submit an insurance claim, you’re formally asking your insurance provider for money to assist you in covering the costs of repairs and other expenses resulting from a policy event (such as a car accident or a home invasion) that is covered by your insurance.

When to File a Claim with Insurance

Should I file or not? Shakespeare was never faced with insurance claims, yet that is the query we must make in the wake of a mishap. And the answer is, it depends. 

Additionally, keep in mind that your insurance provider can increase your premium costs if you file a claim. Indeed, even if the other driver was at fault or the weather was out of your control, In some situations, they might even decide to cancel your policy.

Here are three situations where you should seriously think about making a claim:

1. When a person is hurt.

You must make a claim if you, the other driver, or a passenger in either vehicle sustains injuries in an automobile accident.

2. When the source of the problem is unclear.

It might be difficult to determine who is to blame for an accident. In that instance, you’ll leave the decision to the insurance providers for both parties.

3. If you experience a “complete loss” or are unable to cover the costs of the losses.

Your car will likely have thousands of dollars in damages when it is entirely totaled. You won’t be able to cover such substantial expenses on your own. Making a claim makes sense therefore.

Because every situation is unique, it’s crucial to speak with a representative of your insurance provider or an agent to help you assess the benefits and drawbacks of making a claim in your particular circumstance.

How to Submit a Claim for Insurance

Let’s imagine you were recently involved in a serious auto accident and your car’s front end has been crushed in like an accordion. Thankfully, you’re unharmed, but it’s very obvious that your automobile will likely be a complete loss, and you’ll need to make an insurance claim.

How to Submit a Claim for Insurance

Let’s imagine you were recently involved in a serious auto accident, and your car’s front end has been crushed in like an accordion. Thankfully, you’re unharmed, but it’s very obvious that your automobile will likely be a total loss, and you’ll need to make an insurance claim.

What do you actually do? We appreciate you asking! Here are some crucial actions you must follow in order to submit an insurance claim.

Step 1: If necessary, call the police.

Don’t just stand there if a crime was committed, an accident injured someone, or there is severe damage. To get assistance, dial 911. It also doesn’t hurt to have a police record, even though you don’t absolutely need one to file an insurance claim.

A police report will give you the details of what took place in an accident or at a crime scene and will contain details that will make filing an insurance claim much simpler.

Step 2: Exchange information and document everything.

It’s time to gather information from all parties involved and document what you can from the accident scene. Consider it like a scavenger hunt. Get the following, please:

Name, contact information, and, if available, a photo of the other driver’s license

number of insurance policies

All affected automobiles’ year, make, model, and license plate numbers are listed.

Photos documenting the incident from all directions

Take thorough notes during any conversations you have with accident participants.

You should also keep any doctor’s reports, hospital bills, and other documentation you receive for the treatment of accident-related injuries if you need medical attention.

What to Expect Following an Insurance Claim What should you do next? 

The insurance provider might send an insurance adjuster to look into the accident and the damage after you’ve submitted your claim. An adjuster can be compared to Sherlock Holmes without the pipe and eccentric hat.

The insurance adjuster will examine all the information during the investigation to determine exactly what occurred. The adjuster will propose how much the insurance company should be paying for the loss after determining the accident’s cause.

6 Steps in Creating a Small Business Budget

Small Business Budget

 

By creating a budget for small businesses based on data such as seasonal trends and income statements, companies can anticipate financial requirements in the future. For startup business owners, they can use free budgeting applications to manage their finances while the business is still growing.

On the basis of this information, companies can have a clear plan to move forward and respond to any fluctuations in economic and consumer conditions. A budget for small businesses aims to reduce expenses and increase cash flow for an optimized end line.

What is a budget for small businesses?

A small business budget is essentially an overview of a small business’s finances. It describes important details about the current state of the Company’s finances, such as expenses and earnings, as well as the Company’s long-term financial objectives.

Budgeting enables informed reasoning and informed decisions about business processes, such as personnel planning and warehouse orders, with the primary goal of minimizing costs and maximizing profits.

Understanding key financial data from the past and assessing the current state of the cash flow will help a budget help small business owners plan for short- and long-term success. The main advantages of creating a budget for small businesses are:

  • A roadmap to make decisions about finances and have more confidence in those decisions.
  • Understand what needs to be changed to achieve the company’s financial goals.
  • Identify the most important places to reduce expenses to increase sales.
  • Successful land financing when applying for loans for small businesses or with investors.
  • Predict slow months and respond to cost reduction.
  • Identification of surplus funds to be reinvested for growth.

6 Important Steps to Creating a Business Budget

The following steps guide the creation of a budget for small businesses. Depending on how long the company has been in business, the steps may vary slightly.

For example, the longer a company is active, the more data from previous operations and sales to create a future budget plan. A new company is asked to examine this data to determine the common costs within the industry or company to estimate the projected cash flow.

 

ALSO READ: 4 Business Advantages of Tax Services Outsourcing

 

#1 – Evaluate

revenue The first step is to identify all sources of income. Combine these sources to learn more about the cash flow that comes into the business for a given period of time, such as on a monthly basis. In this step, it is important to calculate the turnover, not the profit. This is the amount that goes into the business before the expenses are deducted. The profit, on the other hand, is the amount that remains after the subtraction of the expenses.

After the income has been calculated, it is important to do this for a longer period of time. If it has been calculated for one month, then do so for several months, for at least 12 months, if the data is available. With this information, it is then possible for an entrepreneur to assess monthly income changes to determine if there are seasonal patterns, such as break-ins after holidays. This information can then determine future decisions to prepare for seasonal shifts.

#2 – Add and subtract fixed costs.

Secondly, all fixed costs should be added together. Fixed costs are expenses that are recurring for the company. They can be recurring on a daily, weekly, monthly, or annual basis. Examples of common fixed costs include leasing expenses, deliveries, payroll, taxes, debt repayments, asset depreciation, and insurance.

Every company is unique, so it is important to consider what fixed costs are individual for the company, beyond these typical expenses. After the costs have been added, this number is then deducted from the revenue.

#3 – Examine

variable expenses Additional fixed costs are variable expenses. These are costs that change as needed (either internal demand or consumption demand). Utilities are a good example of variable costs because although they are recurring, they differ for each payment cycle. Some costs can be found which are not essential for day-to-day business operations. These costs are referred to as discretionary expenses and can also be added to the variable expense amount. Examples of variable expenses are office supplies, marketing costs, vocational training and development, replacement of old equipment, and the salary of the owner.

In months when there is less incoming cash flow, the company should limit variable expenses as much as possible, with discretionary expenditures being increased first. In profitable months, companies can increase variable expenses with the aim of growing the organization in the long term.

#4 – Establishment of the Emergency Fund

This fund is indispensable for the management of unexpected costs. To avoid anxiety and financial instability, it is important to ensure that there are additional cash deposits that can be paid for unexpected costs such as device repairs.

Although it can be tempting to spend excess income on variable expenses, it’s important to set aside some of that for an emergency fund so that things like damaged inventory or broken equipment can be treated as quickly as possible without burdening the business budget.

#5 – Income Statement

All of the above information is then compiled into the income statement (P&L). This is a basic addition and subtraction formula – all income for the month is added together and all expenses are deducted from income. The ultimate goal is to have a positive end number that conveys that the business is profitable.

If the company has taken a loss, management should know that many small businesses, especially in the beginning, will experience similar financial situations.

#6 – Create future business budgets

Projecting what will happen in the future usually requires some level of raetselraten, but companies can use historical financial data to ensure that all decisions are trained. The budget can be created with the created P&L. The reference to the income statement gives an idea of the seasonal fluctuations of the business, which investments were advantageous, and what costs can be avoided in order to generate more cash flow.

The following trends will be beneficial to identify in the P&L:

  • Delivery and equipment purchases have caused losses.
  • Sales trends related to weather, economic problems, supply problems, or natural disasters.
  • Seasonal trends that align with school calendars or tourism.
  • The profit increases without a clear explanation.

Auditing the P&L is about understanding what caused the fluctuations in cash flow so that they can be replicated or avoided when the budget is created.

Ultimately, creating a budget can provide small businesses with the right spending strategies and provide the necessary information to make important financial decisions. This is all done with the overarching goal of becoming more financially stable and profitable in the long term.

The Best Types of Businesses for Entrepreneurs

Even in a challenging economy, entrepreneurs with the right skills and business ideas can succeed. Starting your own business and growing it into a profitable and sustainable enterprise takes time, resources, dedication, hard work and often courage. 

Whether you are just starting to consider entrepreneurship as a career path or you have been thinking about it for some time, now is the perfect opportunity to take that leap.

In this article, we will introduce you to four types of businesses that are great for entrepreneurs who want to grow their company in the future. As an entrepreneur, there are many things you will need to think about before opening your doors for business.

Read on to learn more about the best types of businesses for entrepreneurs who want to grow.

A Software Company

A software company is a business that provides software that businesses and consumers use every day. You can think of software companies as the “tech companies of the 90s.”

With technology evolving as fast as it does, software companies are always in demand. A software company is a great option for entrepreneurs who want to start a business that is scalable.

Wholesale Business

Wholesale businesses like wholesale kitchen cabinets are types of businesses that sell their products to dealers or distributors who then sell the products to their customers. Wholesale businesses are generally set up to sell products in bulk, making wholesale businesses a great choice for entrepreneurs who want to scale their business.

Wholesale businesses are a great option for entrepreneurs who want to start a business that can be produced and distributed quickly. Many wholesale businesses can be set up with low initial costs, making them a good choice for entrepreneurs who need to minimize their risk.

An e-Commerce Business

An e-commerce business is a type of business that sells goods or services online. E-commerce businesses can sell a wide range of products, including physical items, digital products and subscription-based services. E-commerce businesses allow customers to shop online and often have low overhead costs as compared to other types of businesses.

Travel Businesses

Travel businesses are popular among entrepreneurs because they can be run from anywhere in the world. Some of the most profitable travel businesses are in the areas of accommodation, air transportation, and tourism.

As you can see, there are plenty of business opportunities that can be taken. Depending on your skills and strengths will vary what form of business is best for you. It is best to evaluate those things before jumping into something.

Your Guide to Successfully Starting an Auto Leads Business

Starting an auto leads business can be a great way to generate steady income. If done right, it can help in building a successful small business. Auto leads businesses range from lead services agencies that help dealers generate leads and manage their databases, to telemarketers that sell auto insurance leads.

The auto lead industry is worth an estimated $8 billion per year. On the other hand, getting started in this field may seem like a complicated and expensive proposition. The thing is, starting an auto leads business is much easier than it seems at first glance. An auto leads business can start with as little as $100 if you take measures to lower upfront costs.

Here are some tips on how you can successfully start Auto Leads business in your area.

Research the Auto Lead Industry

Just before you decide to start an auto leads business, it is important to do some initial research about the industry. The auto lead industry is largely unregulated and there are very few set standards for businesses within the industry.

It is important to learn as much as you can about the industry and what makes a good auto lead business.

This will help you to avoid making mistakes and setting your business up for failure from the start. The first thing to research is what type of auto lead business works best in your area.

Starting an Auto Leads Business with a Small Investment

One of the best ways to start an auto leads business is to purchase a used phone system and a few leads from an auto leads company. This will enable you to get a feel for the industry and the process for starting and running a lead business without having to make a large financial investment.

This approach is low risk as you can sell the leads you buy for a profit or continue to use them yourself until you have generated enough leads to sell.

Find a Solid Platform to Host Your Business

A platform is the place where you will be hosting your auto leads business. You can either build your own website or sign up for a third-party platform such as a lead generation or lead selling website.

Building your own website is an option if you have the technical skills and programming expertise to do so, but it does come with a significant upfront cost.

Tools Everyone Needs to Start a Loan Business

There are many different types of businesses that can be started with a small amount of capital, and the loan business is one of them. In fact, you don’t even need to have much money to get started in this type of business.

You might think that starting a loan business means you need to become a bank and use your capital to give out loans, but this is not exactly true. A loan business is any business where you help people get access to loans from third parties.

The great thing about the loan business is that banks and other financial institutions will often pay you for referring them potential customers who meet their criteria for a specific loan. This means that if you’re willing to put in some time and effort, you can start your own loan company for very little money up-front. Here are tools everyone needs to start a loan business:

A Responsive Website

One of the first things you will need to do if you’re going to start a loan business is to get a website up and running. A website is essential for a couple of reasons and one of them is that it is a great way to get your name out there and build your business.

A website is a great way to get people interested in your services, and it’s very inexpensive.

An Email Marketing Platform

Another important tool for any loan business is an email marketing platform. Email marketing is a very effective way to grow your business, and almost every loan business will use email marketing as a way to get clients. There are many different email marketing platforms out there that you can choose from. Take your time in doing research to find the one that suits your needs the most.

A Reputation Management Tool

Another important business tool is a reputation management tool. If you are going to start a loan business, you will want to make sure that you have a good reputation in your community. A reputation management tool can help you manage the reputation of your business online.

An Organizational Tool

Another important business tool is an organizational tool. If you’re going to start a loan business, you’ll need to stay organized. There are many different organizational tools you can use, but one of the best options is Trello. You can also use a USDA mortgage calculator to organize and compute your customers’ purchases properly.

Start- Up Financing: Capital And Funding For Start-ups

Anyone can start a business, but it takes more than just the right mindset and passion for a business to be successful. In addition to a brilliant business idea, a future-proof business plan and a solid capital base are of existential importance. Young entrepreneurs and founders have numerous options at this point to obtain tailor-made start-up financing for their own company.

Small businesses would like to take the big leap. A t-Shirt company, for example, would need a bigger capital if it wants to cater more to the demands of the business. A membership with the Business T-Shirt Club (which offers NET 30 accounts to its members) is most helpful but simply not enough to expand the business.

The most sensible thing to do is to get financing for your business. Whether loans, subsidies or crowdfunding platforms – get an overview and find the option that best suits you and your business idea.

What is start-up financing?

Start-up financing includes all financial resources that are raised to initiate the successful founding of a company. This includes in particular the creation of a capital base that enables the company to operate economically in an intended manner. Start-up financing includes both equity and debt capital.

As a rule, starting a business cannot be financed from your own resources. For this reason, outside capital grants in the form of loans, credits and subsidies play a major role in the initial financing of a company start-up. It usually boils down to the fact that founders (have to) use a mix of all financial instruments in order to be able to successfully enter the market with their start-up.

Read also: 4 Business Advantages of Tax Services Outsourcing

Start-up financing – models at a glance

Equity for start-up financing
In every start-up project, there is typically a certain amount of equity capital. This includes all funds that founders bring to the project themselves without resorting to external sources. Equity can come from your own savings and investments, but it can also be contributed by friends, family, and acquaintances. This is where the fewest liabilities arise for founders – at least on a business level.

Loans / loans for start-up financing
The classic contact point for credit or loans is a bank, although nowadays there are a large number of financial service providers who provide capital for start-up financing. Founders should get a good overview of the various offers and compare conditions, interest rates, installments, and deadlines with each other. Especially with financing via banks, it should be noted that without good preparation and planning there is little chance of approval.

Crowdfunding Start-up Financing
Crowdfunding is an area that has seen rapid development in recent years. This form of start-up financing is becoming increasingly popular, not least due to prominent examples on various crowdfunding platforms such as Kickstarter or Indiegogo, and is based on the principle that business ideas are presented to a large number of potential individual investors, who can then decide whether and in which way extent they would like to participate financially in this business idea.

Subsidies for start-up financing
In order to promote German medium-sized companies and Germany as a business location, there are promotional loans for start-ups and young founders. Appropriate funding programs are available at both the state and federal levels. In the case of start-up support from the public sector, entrepreneurs have access to both advisory programs and inexpensive loans, which are usually characterized by long terms, low-interest rates, and possibly even by start-up phases without repayment.

Investment/risk capital for start-up financing
Depending on the respective business idea and marketing, young founders also have the opportunity to win financially strong individual investors or investment funds for their own heart project. This can be a tried and tested means of start-up financing and enable young companies to get off to a good start – however, it should always be remembered that investors usually have a clear idea of ​​the company’s development and usually demand participation.

 

Accident Lawyer: Businesses Legal Advice Tips

Working with a lawyer on a regular basis is often a real challenge for many small and medium-sized enterprises. It is not only the repeatedly discussed costs that play a role. Communication between SMEs and Multi-Car crash accident lawyer is also often a challenge.

Multi-Car crash accident lawyer

Businesses: Things pay attention to when working with Multi-Car crash accident lawyer

Don’t just seek legal advice when the going gets tough

Actually, you only need a lawyer if there is a fire somewhere. If there is a complaint, the lawyer is quick to talk to. As a result, this situation can be more expensive than continuous cooperation. Law firms are not necessarily willing to enter into cost negotiations, especially in the case of complex issues and areas of law. Therefore, it can make more sense to choose a law firm that you trust and with which you will enter into a long-term cooperation.

Large is often not better

Large law firms often have very high hourly rates, why? Expensive personnel, costs for a representative building, etc. often have to be paid for. Some lawyers who have also had experience in corporate legal departments are familiar with the costs of corporate lawyers. So you calculate the cost per hour that such a lawyer costs the company in salary and social security contributions. From a cost perspective, they are a real alternative to setting up their own legal department for many small and medium-sized companies. And through long-term cooperation with the companies, the law firm also becomes a winner of this pricing policy.

Use knowledge of contract law in sales and purchasing

Companies looking for a lawyer are often asked about knowledge of contract law. In fact, drafting, reviewing and negotiating contracts is a core activity of legal professionals. However, he can also scour the existing contracts for risks, identify them and develop solutions on how to avoid them in future negotiations.

A common counter-argument here is that you cannot enforce your own contract plans against suppliers or stronger partners. Experience has shown that a good contract lawyer has a wide range of arguments to solve such situations in a way that is favourable for the business. However, he can also summarize the negotiation results in a database in order to make them available to sales or purchasing employees for their negotiations.

Wallin Hester Lawyer: Business Legal Experts

An in-house lawyer, also known as a company lawyer, is a permanent lawyer employed by a non-lawyer employer.  But where are the differences between the legal advisor and Wallin Hester commercial lawyer?

What is Wallin Hester business or in-house lawyer?

The in-house lawyer does not necessarily have to work for a company. Associations and foundations can also be represented by him. It is important that the employer is not a lawyer.

In all cases, however, approval from the local bar association is required.

This differs fundamentally from the legal advisor. He is allowed to support companies in his advisory activity even without a license to practice law. Therefore, he does not have to be a fully qualified lawyer. Even corporate lawyers may act as legal advisors.

The in-house lawyer can also be easily distinguished from other lawyers because he receives his work from a single employer and not from a large number of clients.

The Wallin Hester business attorney is an advisor to the management level

How does this express itself in the everyday working life of the legal counsel?

On the one hand, a large number of legal questions arise in day-to-day operations. In these cases, the company lawyer is the point of contact for the company.

Its task is the analysis, as well as finding a solution. In retrospect, the briefing of the various company areas, especially the executives, is due.

Also, training and teaching of employees on issues of legal relevance are part of the range of tasks of the general counsel.

In-house Wallin Hester lawyers – experts in contracts

A central task in the field of activity is the processing of contractual issues in all areas of the company.

Wallin Hester

He has to draw up contracts, negotiate, review and revise them independently or in conjunction with them.

Examples of this are of course internal and external employment contracts. The rental agreements for corporate real estate can also be relevant. In addition, there are insurance contracts and the assessment of cases in which these apply.

Companies are occasionally confronted with legal issues that exceed the capacities of the internal legal department.

In these cases, mandating and coordinating external law firms is one of the duties of the in-house counsel.

Finally, the design of internal business regulations should be mentioned. This gives the in-house lawyer a particularly important position in the corporate culture.

4 Business Advantages of Tax Services Outsourcing

Filing Taxes

 

It’s a replacement year, and so, the proper time to start out wondering taxes.

As the tax season comes closer, companies often find themselves doing more business than at the other time of the year, which implies more revenue. While this is often great news, it can even cause some problems — if there are complicated tax returns to organize, you may end up not having the ability to supply quality service to your customers, otherwise, you may be stressed to the purpose of frustration.

While there are several steps you’ll be able to go to ease your burden, there’s one thing that will allow you to continue usurping new projects without interference and without hiring additional resources — outsourcing your tax services.

If you’re a business owner who is trying to control a leaner budget, it’s going to be useful for you to outsource such administrative tasks as filing taxes so as to scale back headcount and find other benefits. Of outsourcing your tax services, here are four major benefits:

1. Access to Experienced, Licensed Experts

Filing the incorrect tax figures can have disastrous repercussions for a business, including an investigation by the inner Revenue Service (IRS). Outsourcing gives you access to skilled professionals who are cognizant of the updated tax and regulatory changes and have experience in your specific industry.

Apart from expert knowledge, you furthermore may get access to the most recent technology and processes (which can otherwise cost a fortune) to make sure that your data is accurate and secure.

 

ALSO READ: Basic Definition of Wealth Management for Businesses

 

2. Risk Mitigation

Making mistakes when it involves taxes can cost a business pile. additionally, employee fraud could be a huge problem for several companies, especially small businesses — in line with the Association of Certified Fraud Examiner’s study from 2012, the median fraud amounts to an astonishing $147,000, and the foremost common victims of fraud are small businesses that employ fewer than 100 people.

This is where outsourced tax services are the proper solution. You’ll lower your risk of internal fraud by bringing in a third party to audit the money trail. Ultimately helping improve compliance, this third party may offer impartial standards of checks and balances.

3. Flexibility and Scalability

Eventually, you may want your business to grow, and when it does, you may require a bigger workforce. However, if the expansion suddenly plateaus, you will just let some team members go. services tailored to your specific needs are what outsourcing firms offer. Therefore, you get the pliability to rescale or scale down the services, counting on how your company is growing.

4. Time and value Savings

Depending on how you utilize the outsourced firm, you’ll find yourself saving lots of your time and money while making your operation more profitable. You’ll be able to unlock valuable time that would be better spent on daily operations, customer acquisition, and team management, furthermore as saving money on expenses associated with accounting software, recruitment, training, office supplies so on, all just by outsourcing your tax preparation work. This may allow you to specialize in growing your company rather than performing on the minutiae.

 

Budgeting For A Brighter Future

Money management can be quite problematic for most people. It is not easy to create a good balance between income and expenses every month, especially if you still want to save money. While some people rely on financial experts for their financial planning, there are still some who consult their lawyers like lawyers at to avoid financial issues in the future. If you’re having trouble drawing up or following a sound financial plan, it’s time for a new approach. As long as you organize yourself well, it’s not that difficult at all!.

Evaluate your financial situation first

At first glance, this step can be daunting, but in order to draw up a good financial plan, it is crucial to first have a good overview of your assets and cash flows.

Answer the following questions for yourself:

How regularly do you check your finances? When was the last time you did this?
If you have debts, how much is it exactly? And how much money have you saved or invested?
Do you have a long-term financial plan?
You need to determine your monthly costs. This will give you a better understanding of your financial position.

Organize a financial plan

Good organization is the basis for a healthy financial plan. Often the problem is not that you don’t have enough income for your expenses. Instead, it is often due to a misdirection of your money. So if you know what your monthly costs are, then you should be the first to set aside money. This way you know exactly how much you have leftover for trips or to save. This way you know what your budget is and you will never run out of money for important accounts again. All your income, including extras such as social benefits, rental income, investment income, and any other possible source.

All your expenses, including housing costs, bills, transportation (including possible car repairs, parking costs, etc.), food and drink, insurance, credit payments, and all other possible costs. The difference between your income and expenses gives you insight into your precise financial situation. You then know exactly what you have leftover each month.

Deleverage and prioritize

If you have debts, you must reduce them as quickly as possible. Without debt, you will simply have less stress. Communicate with the financial institutions you are in debt to and work out a financial plan together to repay everything in a realistic way. Be especially careful when paying off credit. Depending on the bank, there are often high interest rates, especially for late repayments. If you have a credit card, you must therefore make sure that you repay within the month so as not to pay any interest, and if you do spread your repayments, that you pay off as soon as possible.

Keep saving

Saving money can help you immensely. You create a buffer to protect against unexpected costs. Try to set aside a little money each month so that you can one day set up a dream project, buy a house, or simply be prepared for unforeseen circumstances. This money can also serve as a supplement to your pension. Personal finances are not that complicated, but you should pay attention to them. By organizing your business better, you can better balance your income and expenses and have more options in the long run. So you have fewer worries and you can enjoy life more.

Monthly Income Funds: Be Financially Free

Everyone is talking about financial independence. But what do you mean by that? One thing seems certain. Financial independence is different for everyone. And it is achievable for far more of you on normal monthly income funds than you think.

Be financially free – monthly income funds

Some work for 40 years in the hope of being able to enjoy their old age. The others work so that they no longer have to work at 40. Without a large inheritance or the lottery jackpot, you don’t just get financial freedom. You have to work for it. Financial independence is a life plan.

Monthly income funds: Forms of financial independence

Financial freedom can be very different. If you want to retire at a young age, you need a lot of money. If you just want to be able to work on what, when, where, how often, you need reserves. And if you don’t want to do every job so that the money comes in, you may just have to be debt-free and flexible in order to achieve your financial freedom.

Financial freedom needs a goal

If you want to be financially free at some point, you first have to define what financial independence is for you.

If you want to build up a passive income, i.e. an income that is generated from capital instead of work, you also need a good strategy. You have to choose the right forms of investment and determine the necessary financial resources. After all, you usually only achieve financial independence if you remain motivated to stick to your path in the event of setbacks.

Monthly income funds: The way to financial freedom

monthly income funds

Your path to financial freedom is comparable to climbing a summit. You reached the first base camp as soon as you earn enough of your own money that you can earn a living with it. Halfway through, as soon as you can live without work for a while from your reserves.

With income from invested money, you then build up your first fortune and with it the tents for the next camp. Now not only do you work for your money, but your money also works for you. The last, the biggest step follows. You generate so much that a pension beckons you with dividends or returns. The financing of the standard of living from the pure income, the pinnacle of financial independence.

 

Inspirational Quote about Finance: "Making money is a hobby that will complement any other hobbies you have, beautifully."
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