Showing posts with label finance management. Show all posts
Showing posts with label finance management. Show all posts

May 15, 2019

5 Reasons why businesses should use a utility management company

Management Company
When you think about running a business, rarely do people feel compelled to consider utilities. In fact, most business owners often consider this aspect of business operations one of those opportunities to save money. While it is a fact that one can save money by running their utilities, it is equally important to note that it comes with a price. If you compare a business owner who opts to hire a utility management company and one who opts to do it on their own, the stark reality is that hiring utility companies enhances efficiency.

In essence, utility management companies help in boosting creativity and creating time for a business owner to think about other things apart from managing basic utilities. In this article, we are going to shed light on 5 reasons why businesses should use a utility management company.

According to the team at UMC Solutions “Many businesses have a lack of both time and skill to process a large number of complex utility bills, in the majority of cases outsourcing this time and skill to a specialized utility management company will provide a positive ROI.”

● Cost saving

Well, most business owners think that running all the errands associated with the business is a way of saving money. While this seems plausible, the reality is that one may be losing out. Hiring utility management companies brings knowledge and experience needed in identifying efficient utility providers at the most affordable price. Utility management companies have what it takes to ensure that your business gets the best possible service that might cost you more without your knowledge.

● Time saving

In addition to reducing overall utility-related costs, hiring utility management companies frees up one’s time to focus on the core business objectives. In this case, time resource needed to manage utilities promotes focus to other critical matters. For example, can you compare having to think through the process of settling water and electricity bills with creating a platform for growing business opportunities?

● Ease of tracking the markets

Utility management companies help businesses to track market trends with ease. This ranges from the customer behavior to existing products and services. Management utility companies will give you a glimpse of utility service providers without having to look into what each company does. For example, utility management companies know which service providers are using the latest technology and its impact to your business. This makes it easy for the business owner to make a quick decision without having to struggle with the hassle of digging into an uncommon world of utility providers.

● Promotes internal organizational structures

In addition to managing utilities, businesses that hire these companies have the freedom to align their structures in line with the emerging business demands. Utility management companies tailor utility needs in line with account management practices. This enhances coordination and allows for effective response to emergencies as well as strategy.

● Simplify business operations

In a world business where competition is driving businesses owners towards complexity, it is critical to identify areas that can enhance ease of managing business operations. This calls for investing in specialized companies to manage elements within business enterprises that can limit or hinder performance. Specialist knowledge associated with utility management companies comes in handy to boost performance and create a steady platform for growth.

Mar 30, 2019

The 5 Key Factors That Made Norway 2018’s Most Prosperous Country

Image credit: weforum.org
Norway is one of the few countries in the world that has been receiving various accolades year in and year out. In 2017, Norway was considered the “Happiest Country in the World” by LexisNexis. Norway also never fails to make it into the top tier in various lists detailing the most beautiful countries in the world.

However, there is one accolade that the country is proud of getting nine times since 2007: the “World’s Most Prosperous Country.”

The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute, whose mission is to “create the pathways from poverty to prosperity, by fostering Open Economies, Inclusive Societies and Empowered People.” This index shows how countries from different parts of the world have veered toward or away from a higher standard of living or prosperity.

Each country included in the study is evaluated according to nine important pillars or factors which are:

Economic quality
Business environment
Governance
Personal freedom
Social capital
Safety and security
Education
Health
Natural environment

What Made Norway Top the List


Norway ranked impressively high in five pillars of the Legatum Prosperity Index which propelled it to the top of the list. These five pillars or factors are:

1. Safety and Security


Norway ranked first in terms of safety and security.

This pillar measures how well citizens and properties are protected. This also evaluated by how safe and secure the citizens feel on a personal and national level.

This shouldn’t be a surprise since Norway ranked second on the 2018 Gallup survey of the world’s safest countries to visit.  The survey showed that both locals and tourists feel safe in this country.

Additionally, Norway has a relatively low crime rate, especially when compared to other Western European countries with large populations. Norway is a peaceful nation where civil unrest is almost nonexistent.

2. Governance


Norway ranked third in this pillar. This factor pertains to a country’s performance in the following key areas:

Effective governance
Democracy and political participation
Rule of law

Norway follows a parliamentary constitutional monarchy system where the executive branch is headed by the prime minister and exercised by the king's council and the cabinet.

The country got a high rating for the adherence of its citizens to the rule of law. In addition, Norway received high ratings for the quality and relevance of regulations they have implemented.

Lastly, the nation scored high in terms of the efficiency, impartiality, and accountability of its government.

3. Social Capital


The country also ranked third in terms of social capital, a pillar which measures the extent to which people trust and support one another and have the support of their family, friends, and other people. 

It evaluates the depth and quality of personal relationships, social network support, norms, and people’s civic participation.

In Norway, a study was released in 2017 showing that there has been little change in the number of locals who have people whom they can count on for help when the need arises.

With this in mind, it is safe to say that Norwegians have good personal and social relationships and they are more likely to help someone in need. They are also more open to making cash donations and volunteering to aid others.

All these efforts go a long way in pushing and maintaining the country’s prosperity status.

4. Education


In terms of education, Norway ranked fourth.

This pillar takes into account the country’s quality of education, the people’s access to education, and human capital.

The Norwegian public education system is considered one of the best in Europe. The general level of education in Norway is even higher than the European average.

The country has done a great job of maintaining the quality of education in both public and private schools. Because of this, many Norwegians are well-educated and the number of adults with at least an upper secondary level of education continues to grow.

5. Economic Quality


Lastly, Norway ranked seventh in terms of economic quality.

This factor rates countries on:

Openness of economy
Economic opportunities
Financial sector efficiency
Foundations for growth
Macroeconomic indicators

Norway is one of the few countries with an inclusive economy that continues to perform well. The country has the lowest income inequality score in the world. Because of this, Norway has a number of the best companies to invest in the long term.

The country is also successful in translating economic growth into high and rising living standards. Moreover, Norway is a consistent performer in terms of creating jobs for the majority of the population and reducing poverty.

With its great track record and continuous effort, Norway is on the right track to landing on the top of this year’s prosperity index as well.


Dec 7, 2018

4 Places to apply for a business loan online

Applying for a small business loan can be a nerve-wrenching process. From determining how much to borrow, what to borrow money for, and who to borrow from, there are many decisions to be made that can determine your application decision, interest rates and terms, or the type of collateral necessary.

Luckily, today’s modern, online environment makes applying for a business loan easier than it has ever been. Most online lenders will get your application decisions back to you quickly – some even on the same day, some in as a little as a couple of hours. Most online applications include a simple online application, which reduces the burden of applying for small business loans.

In this article, we are going to cover 4 places to apply for a business loan online. With any underwriting product, you’ll want to make sure to do your diligence with each. We recommend looking at reviews online, checking the Better Business Bureau rankings, or do a simple web search to see what you can learn about different lenders. Each lender is going to put a different emphasis on credit history, collateral, and your business plans.

1. SMB Compass

SMB Compass is a fast-growing business financing company that puts emphasis on making funding available for small businesses. With a philosophy that small businesses are the be backbone of a strong economy, SMB aims to provide flexible and cost effective solutions for small business owners. SMB offers expertise in SBA lending, asset-based and equipment lending, and a variety of alternative financing products.

SMB has provided over $160 million to over a thousand U.S. small businesses. SMB has helped construction companies, restaurants and bars, salons and spas, retail stores, medical practices, auto shops and dealers, hotels, and many other kinds of businesses. Their approach focuses on turning clients into friends, and they are happy to serve the small business community to make funding readily available. Apply today at https://www.smbcompass.com/applynow/

2. OnDeck


OnDeck was founded in 2007 with the goal of providing capital to small businesses. Their philosophy was that lenders should evaluate actual business performance rather than only looking at personal credit. Since then, OnDeck has delivered over $10 billion to businesses across the globe.

With an A+ rating with the Better Business Bureau, and 9.8/10 ratings on TrustPilot, OnDeck provides a quick, easy online application to get you a funding decision in as little as 24 hours.

3. Kabbage
Kabbage was created in 2009 to provide small businesses quick funding online. Kabbage cites their technology platform, which uses a variety of business operations to understand business performance. Kabbage has provided over $5.6 billion in funding to small business owners.

With offices in Atlanta, Denver, San Francisco, New York, and Bangladore, Kabbage has collaborated with business owners all over the world to bring an international perspective to small business lending.

4. Fundera


Fundera has provided over $850 million to over 10,000 small businesses. Established in 2013, Fundera aims to be the ultimate go-to resource for small business owners. Fundera partners with different brands in business finance, technology and education to provide small business owners the tools and advice they need.

In addition to resources about different loan products and lenders, Fundera connects small business owners with lending specialists to explore options. Their experts will walk you through the application process and discuss which options are best fitted for your situation and business needs.

Jul 3, 2018

3 Things You Need to Know Before You Finance a New Home

3 Things You Need to Know Before You Finance a New Home
Financing a home may seem like a daunting prospect when we think about all the paperwork that is sure to be involved. The truth is that while the process is undoubtedly thorough, it need not be intimidating at all. Preparation and readiness can help remove most anxiety about home financing.

Here are three things you should know before you finance a new home

1. Personal finance homework saves time and money

Gather your credit information. All lenders will look at your various documents – savings, taxation, outstanding loans – and decide if you are creditworthy. Make sure all your documents are to hand. Also, ensure that you are up-to-date on payments with any loans you may have including credit card bills.

Next, work out the cost of the home purchase process. The purchase price is one thing but work out all the other expenses as well. Interior work, taxes, stamp duty, repairs, additions, remodeling, furnishing, moving charges, exterior work, all these need to factor into your total cost of home ownership. Once you know this, you have a right ballpark for how much home finance is required.

After that, see how much you have in savings for the deposit. Is it enough to get you financing? How much more do you need? How much time will that take?

One outcome of this is that you might reevaluate the type of home and the location of the house that you wish to buy. This is not a bad thing. Buying a home is not something you have to do today. If you are not prepared, it is better to wait before entering into such a significant financial commitment.

2. Evaluate various home finance options

Work out which home buyer financial aid program that suits you best. In the UK, for example, you can get home buying assistance from the Help to Buy plan wherein the government loans up to 40% (in London) of the property price at a low-interest rate. If you have saved for the 5% deposit, you need home finance for the remainder only. You can even choose the Starter Homes scheme and get 20% discount on the property price after paying the deposit.

When approaching banks/lenders for the housing mortgage, make time to understand what they are offering entirely. Loans have to be repaid over several years. It is a commitment you cannot back out of without losing your home. Get professional help, if need be, to understand which loan scheme is most manageable for your financial status as on date and the change you expect in it in future.

3. Professional help from a trusted real estate agent can save you from heartache

Buying a new house is not just a matter of saving for the deposit, taking a loan and making the purchase. Buying a house involves contracts, negotiations, evaluations, inspections, appraisals, preparation of documents, dealing with local government authorities, ensuring that sellers give the home in the promised condition.

A real estate agent can help you navigate all stages from viewing the house to evaluating finances to getting government aid to getting loans to dealing with contractors. Remember, a seller’s representative does not have to protect your interests since you are the buyer. Buyers are best served when they employ their estate agents. To find a real estate agent that you can trust, a search on the internet will give you a list of real estate agencies.

Find out what you can about the performance of the agencies and their estate agents. You can even give each a call or meet with representatives and choose one with whom you feel comfortable. Remember that it will be a long-term association. Find a real estate agent whom you like and whom you find competent and professional.

A professional real estate agent will keep open lines of communication and will get back to you as quickly as possible about all queries. They will also not dismiss any question as trivial.

A real estate agent is invaluable even before you decide on a house. Take the help of your real estate agent to work out your finances, to understand what is the best home for you and how to get a house that is suitable not just for your life today but the house for your future life.

An estate agent will also help you understand in detail about the available financing options. Financing a home is a multi-year commitment; make a decision using professional help to protect your financial interests.

Financing a new home can seem like a paperwork-filled process. A few simple preliminary steps like understanding your personal finance and evaluating various home finance options can ease the burden by quite a bit. Asking for professional help from real estate agents makes the process even more comfortable.

Jan 23, 2015

Effective means to develop finance skills

Effective means to develop finance skills
Image via gettyimages
Introduction to finance

The proper understanding and also correct applications of various theoretical models as well as diversified empirical methods in finance cannot be carried out without specialized skills in statistics, mathematics, IT and others. Basically, majority of financial models are constructed of tools and also concepts from theory of probability and statistics for purposes of representing the uncertainty, which represents high importance for financial decisions. Besides that it is also important to understand the key concepts influencing economy and factors affecting the world market in order to perform potentially successful and profitable investments.

Apr 17, 2014

How to Control Risk Management in terms of Finance?

How to Control Risk Management in terms of FinanceOne of the easiest ways to avoid catastrophe regarding your finances is to get them insured. There are many insurance companies willing to help. But before taking any step, it is very important to understand what insurance and finance are. Finance is the management of your investment, funds, and revenue. It is the knowledge of how to take care of money and the way to generate it more. On the other side, insurance transfers the risk. In simple words, insurance is the safeguard, a precaution taken against the investment.

Mar 3, 2014

Sell Structured Settlement Payments Today!

Structured Settlement Payments
A financial or insurance arrangement in which the individual who claims to resolve a wrongful act leading to legal liability by receiving periodic payments on an agreed schedule rather than receiving the whole money at once is known as structured settlement. This method was first utilized in Canada and later on became a part of common law in USA, Australia and Canada. This arrangement was first used for children affected by Thalidomide. It became very popular in 1970 in the USA as an alternative to lump sum settlements. Other than that a structured settlement also provides with income tax as well as spendthrift requirements benefits. Structured settlement provides ongoing income and also reduces the risk of blowing the huge sum of money by making poor choices. It is also considered the best way to improve financial security if used pay-outs wisely.

Feb 24, 2014

Money Moves: Imagine Playing Your Financial Life like a Chess Game

To say chess is a popular game would be a gross understatement. Chess, for at least 1500 years, has been considered to be not just a game, but a true test of intellect and character. One can learn a great many things about chess that can be applied to one’s life, not the least of which is one’s personal finance. Chess is a game that requires patience, foresight, and an ability to understand your opponent. Much like your personal finance, these qualities are required for you to come out on top in the end. Here are a few things you can take away from playing chess and use to improve your financial life:

Feb 7, 2014

Financial Statement: The Crucial part of an Organisation

Everybody regardless of their profession, have to deal with numbers. The business world is enveloped in equations, ratios and formulas. It can be a living nightmare or you can beat the fear once and for all. So here lies the importance of financial statement to get your business financial structure in place. It is definitely not the exciting part of your business; however, keeping financial statement up-to-date is an important aspect of a business.

Jan 1, 2014

Price Consolidation in Forex Trading

Forex traders love to trade on price consolidation breakouts. So what is a price consolidation?

In terms of technical analysis, consolidation is the movement of an asset's price within a well-defined pattern of trading levels. Consolidation is generally regarded as a period of indecision, which comes to an end when the price of the asset breaks beyond the restrictive barriers. Periods of consolidation can be found in charts covering any time interval (i.e. hours, days, etc.), and these periods can last for minutes, days, months or even years. Lengthy periods of consolidation are often known as a base.

Dec 23, 2013

Binary option trading - the Russian Binary Market

Binary option trading is undoubtedly a global phenomenon and traders from across the globe have access to the market, regardless of whether they are in front of their computers and trading their favorite assets or they are physically present on the floor where the trading is taking place. Binary trading has seen traders from all quarters and in this article, we will focus on the option trading market in Russia.

Dec 20, 2013

Discover How to Manage to Buy Your Favorite Car

Buying a car is an investment that should not be taken for granted. This implies a person should be very careful when buying a vehicle for his own use. It is important to learn how to manage to buy your favorite car. The customers need to consider several factors to enable them find quality products for their own use. In this case, they will purchase vehicles that will serve them fully.

These are some of the common tips that may help any customer to make good decision when acquiring cars.

Oct 9, 2013

Binary v Vanilla: What’s Your Option?

If you’re even remotely interested in trading shares, then you are probably already familiar with the terms ‘binary options’ and ‘vanilla options’. To put it very simply, binary options, also commonly referred to as digital options, offer two results to each transactions, while vanilla options only offer a single result. In the following, we take a closer look at these two different types of options, in order to help potential upcoming traders make up their minds as to which of the two is best suited for their trading style.

Aug 25, 2013

4 Things to Ask Yourself before Purchasing Anything on Finance

Finance is a tempting option when faced with a purchase you might not normally be able to afford, however it comes with a few serious consequences. While it will definitely appeal to your impulsive side and tempt even the savviest shopper, it pays to be aware of the risks. Here are 4 important things to ask yourself before purchasing anything on finance.

Why Finance?

Aug 15, 2013

What is Ghost Payrolling and How to avoid it?

Ghost employee fraud occurs when a company pays wages for a person who does not actually work for that company. That employee is a ‘ghost’ in the system. Many times the easiest way to complete the scheme is for payroll to be centralized with too many locations for every employee to be known by management or accounting personnel. Simply add personnel information to the system and wages are paid out to an employee who does not actually exist. This can cost a company millions unless routine and simple safeguards are implemented.

Aug 6, 2013

Can Anybody Profit With Binary Options?

Binary options, also called digital options, are one of the simplest types of trades to understand. That is because they simply consist in deciding if a particular stock will gain or lose value in a short amount of time. That is not to say that everybody profits from every trade. But with determination, many people can learn to develop a successful trading strategy.

Aug 5, 2013

Brief Overview of Credit Card Machines

The world has witnessed so much of modernization eliminating the cash transactions from businesses. These days we have all sorts of online transaction which is popularized by the help of credit card machines. This is a device that can do transactions with a debit card or a credit card. Credit card machines securely transmit funds from one account to another. It is a Point of Sale terminal that can do transaction with a credit / debit card. This machine allows a merchant to insert, swipe, or key in manually the required credit card information and transmit such data to the merchant service provider for consent and then later on the transfer the fund to the merchant. It is used by merchants to directly capture card information instead of manually entering it in card details. Credit card machines are efficient enough to provide the benefit of decreased transaction processing times.

Jun 13, 2013

Choosing Credit Card Processing Companies?

These days whether be small or big businesses accepting credits cards is very important because without them you know you are going to loose quite a many customers. But the processing of the payments for instance working with credit card processing machines is not a layman’s job. For this you need to hire a credit card processing company. Since it is completely upon computer and internet networking not all business owners has an idea how it works. Very few credit card processing companies work for the betterment of their clients. You will never know about the service and may even loose thousands of money just as hidden cost. Hence choose the credit card processing companies carefully for which there are certain intelligent methods as well.

Jun 4, 2013

5 Ways Grocery Shopping Online Can Save You Money

If you’re like most people, when you’re shopping at the supermarket for groceries, at the checkout you often realize that you’ve spend way too much on things that you don’t really need.

That is not a coincidence.

Grocery stores tend to place the essential everyday items on different ends of the store, so you have to walk around through aisles of delicious goodies that you don’t really need, but tend to buy out of impulse.

Jun 3, 2013

Binary brokers: Take your pick from US friendly trading providers

When we say that a particular broker is US friendly, it simply means that the broker abides by the norms of FATCA or Foreign Account Tax Compliance Act. In USA, all types of income are subjected to taxation rules, regardless of whether the income that is being earned by US citizens is from within the country or across the border. The investments made that are subjected to taxation also include cash that you have spent for binary options. As such foreign brokers that agree to deal with US citizens have to disclose all kinds of income as necessitated by FATCA.