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Top 3 Tips For Choosing Banking Services For Your Business

By Thomas on May 8, 2018

Setting up a new business can be a stressful experience and it is important to seek out professional advice before taking the plunge.

How you will finance your business is the most important consideration at the planning stage and banking institutions have a big role to play in this.

In addition to offering financial advice to businesses, banks also provide loans to get an idea off the ground or finance an expansion to an existing company.

They also provide businesses with a platform to make and receive payments. This makes choosing the right bank very important for businesses that want to grow and expand their operations.

Read on as we look at three key areas to consider when choosing banking services for your business.

Make sure the bank understands your needs

A bank must understand the specific needs of your business if you are to enjoy a successful relationship with each other.

Are you looking to secure a loan for your business with a view to developing a larger line of credit in the future?

Do you want a bank that offers comprehensive online services, or do you prefer to carry out important transactions in person?

Once you have the answer to these and other questions you consider to be important you can begin your bank search and analyse what each is offering against your checklist.

The online gambling industry is a great example of how a company could have specific banking needs.

For instance, the Pala Casino welcome package requires players to be able to make deposits and withdrawals online, so the operator would need to ensure its bank can support these types of payment transactions.

Compare the banking charges

Banks are in the business of making money, so it’s important to shop around to make sure you get the best possible deal for your company.

Interest charged on loans can eat into business finances and you should a lender who offers low interest rates to avoid paying more than you should.

You should also ask the penalties for defaulting on a loan so as to prepare yourself adequately should experience any cash flow difficulties.

Don’t ignore smaller banks

Many financial institutions now have an international presence, but their services can sometimes feel a little impersonal.

Larger banks usually offer favourable interests on their loans, but small banks are much more personal in nature and it is easier to establish a relationship with them.

Local banks can also be more aware of the unique economic challenges facing a particular region and are much more likely to understand your business needs.

These factors perhaps make small banks the best for businesses, especially those that are just starting out, but as your business grows you could switch to a bigger banking institution.

4 Places Where SMEs Can Recruit The Best Job Candidates

By Thomas on April 10, 2018

Hiring the best job candidate is a key aspect of having a successful SME. It is therefore essential to make use of innovative recruiting strategies that can help you locate the most appropriate candidates for available positions. There are several places to discover new talent for businesses, and exploring them can save you spending time weaving through heaps of resumes. If you’re on the hunt for the best job candidates for an SME, you can find them in these four places and invite them to a flourishing career opportunity with you.

Professional Networking Events

Attending networking events including big industry conferences remains one of the easiest ways to meet talented individuals. These events offer the opportunity to discuss with professionals in a laidback environment, and find out if they’re open to entering a new path with their career. You might meet someone who’s contented with their current job, but if you’re interested in them for your SME, you can still exchange business cards and keep in touch just in case. Contacting prospects you meet at professional networking events depends on the nature of the conversation which transpired. You can send them the job description if they expressed interest in a specific opening, or simply send links to your website if they need more information about your company in general.

Professional Communities

Professional communities provide a platform for passionate professionals to communicate and share thoughts and ideas. Such individuals may create a profile that includes a complete portfolio – professional background, works samples and so on. SMEs and other companies seeking to recruit job candidates often overlook these communities. However, they provide access to professionals who are open to engaging and talking about their skills. The main downside of recruiting from professional communities is that local candidates might be few. However, if your company is open to remote workers, this recruitment pool will likely pay off.

Job Board Database

Typically, job boards are used to connect with active candidates. But the candidates can also create accounts and provide their resumes and relevant information. Recruiting through job databases can go either way – many candidates create an account when they are actively searching for a job, then forget about it after they get a placement. So, you can end up reaching out to someone who’s happy to hear from you, or someone who has started at a new job and is unwilling to move. Nonetheless, it’s easy to recruit through a job board database, as you can contact candidates through phone or email available on the site.

LinkedIn

LinkedIn is an impressive business and social media app when it comes to searching for the best job candidates. You can search using several filters including location, years of experience and past company. The “LinkedIn Recruiter” function can even let you save prospects’ profiles in specific folders, get updates about contacted individuals and also share them with other team members. It’s easy to reach out to candidates on LinkedIn, and if you reference impressive skills or experience, you can easily make a connection with them. Using a resource like this should be easy for any company to integrate into an existing social media strategy.

Companies are always on the lookout for the best job candidates. Talented professionals won’t apply to your business on their own. You’ll need to comb these places for suitable candidates to join your SME.

Can Betting On Horse Racing Be Profitable?

By Thomas on March 29, 2018

Horse racing is a hugely unpredictable sport and gambling isn’t necessarily renowned for increasing bank balances. However, with sensible staking and a healthy working knowledge of the sport, it can be possible to make a small profit and have plenty of fun along the way.

Source: The Racing Post via Twitter

There are a number of different strategies and techniques used by professional gamblers but making a long-term profit is far from easy. There are always going to be ups and downs but it’s important to take your time, follow patterns and race results and not jump in feet first.

The first rule is to only bet money that you can afford to lose. Betting is great if you have budgeted for the month and still have a surplus £20 but if things are tight, it is advised to simply take a watching break. Just because you aren’t able to have a wager, it doesn’t mean you can’t check the result and make a note of things such as the winning trainer and jockey.

Sensible staking is absolutely imperative. It is generally advised that you should never place more than 5% of your starting bank on any one bet. For example, if you’re starting with £5o, your first bet should be in the region of £2.50. Naturally, if you make a profit, this will gradually increase. This will help ensure longevity and won’t have you scrambling around for further funds.

Source: OTI Racing via Twitter

One misconception amongst gamblers is that there is an obligation to bet on every single race. There are often upwards of thirty races per day in the UK and very few people have enough time on their hands to meticulously study every single card. If you don’t feel confident about a horse’s chances, it is generally advised to abstain and wait for the next race to come along. Races such as Novice Stakes on all-weather tracks are often incredibly difficult to call and should probably be avoided.

Races such as the Grand National are a terrific spectacle but they can also be hugely unpredictable. By following the sport throughout the season, you are more likely to pick up clues and it is often possible to find the early-value in the ante-post markets. Shantou Flyer was priced at 100/1 prior to the Cheltenham Festival but following a solid run in the Ultima Handicap, the Sue Smith-trained runner has been cut to 25/1 according to Oddschecker. It is possible to place a bet months in advance and can often ensure a bigger payout than those who only got involved on the day of the race.

Profiting from horse racing takes tremendous dedication and hours of hard-work It isn’t easy to leaf through pages-upon-pages of previous form, but this will pay dividends in the long-run. If you aren’t willing to put in the effort, you are likely to fall short. Those who stake sensibly, select their races carefully and aren’t afraid to take a watching brief are likely to find it a hugely enjoyable and potentially money-making experience.

Go Green – Make Your Office Greener

By Thomas on March 28, 2018

These days, more and more people are being educated on protection of the environment and how to make sustainable development a reality. Do you also want to make your office greener? There are many benefits you can reap by making this decision. Below are some of the ways you can “go green” when it comes to business.

Less Paper Products

Too many papers in the office? Decide to implement a paperless working operation! Make use of Cloud systems to scan necessary documents, thus decreasing the amount of paper waste. Remember, paper is made from wood. Less paper use means less deforestation. Plus, save money in purchasing less waste items, like paper or ink for printers.

Opt for Post-Consumer Waste (PCW) recycled paper whose manufacturing uses 45% less energy than normal paper. Watch out for the label “100% PCW” to make sure you are using papers with the least impact. Otherwise, look for as much PCW content as possible and recycle all the paper scraps.

Water Dispensing Systems

Does your company provide bottled water for employees? However, not all plastic bottles are sent for recycling as some of them are non-recyclable. Instead, they are taken directly to the dump. Bottled water is also quite costly in the long run. Plus, 25% of bottled water comes from the municipal water supply. It is thus filtered tap water!

Instead of providing bottles of water to all employees, install a filtration and dispensing system for their daily use. This helps in reducing waste and saving money. In this way, you are protecting the environment and saving money for more important expenses. It also provides a cleaner water, free from the contaminants often found in normal tap water.

Alternative Energy

Imagine how much energy you can save by making your office greener! Do you know that you can purchase “green power” from your current utility provider? Green power is generated from renewable sources, like solar power or geothermal. It helps reduce air pollution and greenhouse gas emissions. With these renewable sources of energy, you can expect an inexhaustible and continuous supply.

Along with the environmental and health benefits of alternative energy resources, you can also differentiate your brand from others. While demonstrating civic leadership, you generate more customer or investor loyalty and employee pride. It enhances the public image of your company and creates more positive publicity. Alternative energy also helps in reducing your electricity costs.

Recycling

Recycling is the best way to make your office “greener”! You can recycle not only plastic bottles and paper, but simply everything that is recyclable. For instance, how about used or vintage office furniture instead of new ones? These can also be purchased online at a better price. Thus, contribute in reducing deforestation.

Many employees love to have coffee at different times of the day. Single-cup pod coffee makers are now trends in offices. But imagine how many empty coffee cups end up in the bin! Instead, provide a large tin of regular coffee that can make over a hundred cups, compared to the non-recyclable single-serving coffee pods. It is also a great idea to provide recycling bins.

Greener Public Transportation

Wondering how air pollution has increased so much? It is mainly due to the exhaust fumes from vehicles! How about leaving your car at home to go to work? If your office is not too far, you can even walk or bike to work. In this way, you also get some good exercise in the morning while breathing fresh air instead of the AC in your car. Are you a nature lover? Check out Animal and Nature themed slots at Regal Wins Casino, such as: Secret Garden Slot, Flowers Slot or Rainbow Magic Slot.

Encourage other employees in your office to leave their cars at home and walk or bike to work. Organise special events to promote it, such as car-free days. Also, reward all those who participate in the event. All this greatly helps to protect the environment from pollution and reduces the amount of mileage allowances to cater for the cost of fuel.

These are some of the ways to go green while developing your business. They help create a positive image of your company, which respects and protects the environment. Reducing costs also helps in a more sustainable development of your business.

Receivables Performance Management On Choosing An Accounts Receivables Management Company

By Thomas on March 20, 2018

 

Receivables Performance Management, LLC is a company in Lynnwood, WA that offers accounts receivable management services. In 2002, the company incorporated and they have grown from strength to strength since then. Not only do they offer accounts receivable management services, they complete research on investing as well. Indeed, they are the example of best practice in terms of what to look for in a company that helps with accounts receivable. Let’s take a look at what it is that people should look for.

Receivables Performance Management on What to Look for in an Accounts Receivable Management Company

There are a number of things that businesses should look for in this type of company. They need to make sure that they will receive the highest quality of service and that all their needs are met. This means that some of the key things to look for include:

  1. The level of commission that the company charges.

Naturally, outsourcing to a company like Receivables Performance Management isn’t free. However, that doesn’t mean they should charge ridiculous prices either. Usually, they will deduct a certain percentage for each invoice they collect on. Some companies consider this percentage much too high. However, they fail to remember that if they don’t pay that percentage, they may never see any of their money collected at all. It is all about finding a balance, in other words. You must also question, therefore, whether the cheapest company will actually give the best service.

  1. How much money they will forward.

The main reason why businesses work with an accounts receivable management company is because they will be able to quickly access quite a lot of money. However, different companies are happy to provide different amounts, which tend to be percentages of the value of the invoice itself. That is another percentage that must be taken into consideration, in other words. How much is right all depends on the business’ own needs. Perhaps they are interested in investing, for instance, in which case they may not need as much because they anticipate growth. But if they need the money to pay for salaries or materials, then they will have a much more specific figure in mind.

  1. The company’s reputation.

Reputation is absolutely vital. Any business that wants to hire an accounts receivables company should ensure that they have a solid reputation of delivering an excellent quality service. This is where Receivables Performance Management really sets itself apart, as they are known to be fair, professional, and incredibly good at what they do. At the end of the day, in the world of business, everything is about money, which means accounts receivables must be managed properly if enough money is to be generated and the business can survive.

With these three tips in mind, anyone should be able to find a company like Receivables Performance Management. Naturally, those in Lynnwood, WA can simply contact them directly and know they will receive a fantastic service.

The Benefits of Investing in a 401K Account

By Thomas on March 20, 2018

If you’re contemplating investing in a 401K retirement account, simply continue reading discover some of the many benefits of choosing to invest in a 401K plan according to ShiftPixy.

The benefits of investing in a 401K account:

1. You won’t pay taxes on any money which you choose to invest, until you make a withdrawal from your 401K account

The most significant benefit of choosing to invest some of your income into a 401K account is that you can choose to set up automatic payments to your 401k account, which will be invested from your salary or wages before tax is taken from your earnings.

Which means that you’re definitely far better off placing any money which you have earmarked for your retirement in a 401K account, rather than a traditional long-term savings account. As any disposable income which you choose to save in a regular bank account will be taxed by the government before you’re able to place it into your chosen long-term savings account.

While you will have to pay tax on your investment, this will only happen when you make withdrawals from your 401K account, helping your personal finances.

2. Investing a sizeable chunk of your income into a 401K can decrease the level of income tax which you’ll be expected to pay

You may be wondering how investing in a 401K account, can help you get classified under a lower tax bracket, than the tax bracket which you’re currently in. The simple answer is that your tax bracket is dependent on how much income you bring in, during a financial year.

However, if you choose to make regular contributions straight from your untaxed salary or wages to your 401K account, any money which you invest in your 401K will be exempt from your totaled income for the year. So, it’s well worth calculating how much of your pre-tax income you’d have to invest in your 401K account, in order to drop down to a lower tax bracket.

As a bonus, if you leave your funds in your 401K account until you retire, by the time you withdraw funds from your account, you’ll be likely to be classified in a lower tax bracket, than you’re currently in, which means that in the end, you’ll avoid paying thousands of dollars in tax. Which makes investing in a 401K savings account a wise move.

3. Your savings will grow over time thanks to compound interest

By the time you access your account, your savings will have grown significantly thanks to compound interest, which means that you’ll earn interest on the interest which your account will accumulate over the decades to come.

4. Businesses which you work for will contribute to your 401K savings plan

Another huge advantage of choosing to regularly contribute to a 401K account is that it’s highly likely that your chosen employee will also contribute funds to your account if they offer an employee retirement plan. Even if you switch jobs over the years, the money which you have invested will be safely stored in your 401K savings account.

So it’s definitely worth setting up regular contributions to your 401K retirement account today, in order to maximize the benefits which you’ll receive.

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I’m Thomas Stevens, a financial advisor who has a love for SEO. Anything numbers related excited me, so I started blogging about finances and budgeting. I also help others blog about finance – it’s always good to have a niche! Read More…

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I’m Thomas Stevens, a financial advisor who has a love for SEO.

Anything numbers related excited me, so I started blogging about finances and budgeting. I also help others blog about finance – it’s always good to have a niche!

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