As the world slowly recovers from the credit crunch and we look back at what went right and what went wrong, people are increasingly looking to take control of their finances.Trying to be more tax efficient with your savings and investments is always a good starting point. Of course, looking at existing stocks and shares portfolios is another area to review.I am sure we all appreciate that we could benefit from planning more. But not everyone is...more
As the major economies start to stabilise and the risk of a depression fades into the distance many are reflecting on a few important points. Firstly, how did it all happen? Secondly, how can they better protect themselves in the future?If we were to be honest with ourselves, then we should probably accept that we can improve on at least a couple of the following:1)Tax efficient investments2)Long term investments3)Actively reviewing our existing...more
At certain times in your business cycle, whether you are a start-up business or a well-established veteran, cash flow is critical. Whether times or tough, or business is booming, cash flow challenges can cause unwanted stress and limit your growth potential.Everyone knows the magic equation for a financial success: spend less, make more. Or, limit your expenses and increase your income. There are a hundred tips for saving money, and perhaps even more for making it, but when it comes to cash flow, you can really make an impact by turning your focus to your accounting department. There are two key principles to follow. In accounts payable: Keep your cash. In accounts receivable: Get your income as soon as possible. Keep your cash. When it comes to limiting expenses we must turn to accounts payable. There is absolutely no need to pay any bill before its due. Do not pay it early, do not pay it late. Its so simple, it bears repeating: Pay your bills only when they are due. When in cash crunch, keep that money in your pocket as long as you can.Get your income as soon as possible. The second half of the equationincrease your incomemay leave you thinking, easier said than done. Some might...more
In the current economic climate, banks are hesitant to offer loans. Relief may be on the way from government bailouts and efforts to stimulate lending, or business may want to consider accounts receivable factoring as a solution to meet their cash flow needs.Consumers arent the only ones feeling the pain of the credit crisis - many businesses are...more
Whether you are simply going through a rough period, or are attempting to expand your business, invoice factoring is a unique and effective way for a company to increase their cash flow. This unique financing method has been around for thousands of years and has proven its effectiveness throughout time. It is often said that cash is king and in...more
Lets face it; you didnt start your business for the thrill of placing collections calls or faxing multiple invoices. A non-paying customer is one of the most common nightmares for business owners that can waste time and man power. Businesses can become tangled in time consuming processes of chasing debtors for accounts receivable. Every payment counts, and delinquent receivables can bog down, even ruin a business.Companies have always been vulnerable to slow or delinquent payments. Chasing payments and managing customers is a daily task and, in the worst cases, unresolved payments can lead to insolvency. Insolvency can lead to insolvency proceedings, which can lead to the liquidated of assets to pay off outstanding debts. This is costly, time consuming and a very unpleasant road to take. Collections are vital to a healthy businesses, but theyre not exactly the reason owners start their companies. In delinquent payment situations, a new agreement must be made. This is where good negotiation is key. However, this isnt the classic negotiation that your grandfather dealt with. In todays negotiation scenarios, the customer can be difficult and unwilling to cooperate. The longer an...more
A sale is not a sale until you collect the money. The time between issuing an invoice and collecting on it can be a sparse financial time for any company. During this time, the business has fit the bill for the supplies, time, and resources used to...more
In todays rough economic environment, nothing is more important than getting paid for the services you provide. The same applies for cash intensive companies like trucking and freight businesses. In these lines of businesses, it can often take nearly...more
Since the credit crisis hit global financial markets, many companies have seen their lending sources dry up, causing major strain on them to complete everyday tasks. The troubling news is, despite government effort, a new report suggests things arent...more
So, you are about to embark upon the fun task of switching banks, opening an account for the first time or perhaps just looking around to see what is out there. Think about what you need and then look into your choices. Consider how fast you can get...more
Index Trading is simple, the term 'Index Trade' refers to a trade that can be placed whether a particular Stock Market Index moves up or down over any specified (short-term) time period. You never actually own the instrument you are investing in, you...more
The business of doing forex mainly relies on foreign currency exchange rates. These are the dollars, yen, euros and other such currencies which are being used to facilitate an exchange between various forex businesses. If you are new in the forex...more