Blog Blog Copyright by en Thu, 13 Dec 2018 03:57:46 -0500 Reasons To Use Credit Counseling And Debt Relief Companies To help you with your debts that are slowly but surely turning out to be unmanageable you may wonder what is wrong in your debt management plan and whether or not you need any help from the experts. Well, managing debt and keeping it within your limits is not an easy task. It is not only tedious but you will need constant monitoring, reviewing and analyzing your progress. You will also need to make amendments in your plans and budgeting so that there do have shortage of funds or do not fall behind your repayment schedule. This is where the experience and expertise of a credit counseling and debt relief organization comes handy.

Though debt problem is a very private issue and most people will rather deal it on their own, these companies do not go on advertising your situation to others either. Therefore, you are wrong if you think that hiring their service is a bad idea and will be a sheer waste of money and effort. In fact, if you hire a debt relief or credit counseling company or charity even for that matter, you will be better off knowing your debt, your progress and be able to achieve a successful resolution to your debt problem.

Talk out a solution

Talking is always good to find out an effective solution for any type of problem whether it is alcohol or drug addiction or your debt. It has been proven time and again that talking over your problems takes away the stress and there are multiple options and avenues opening up.

Talking will significantly increase the chances of resolving your debt issue. This process is beneficial provided you speak to a sympathetic listener. Ideally, this process is actually going to help your own thought process when you order your thoughts and explain your financial situation to an expert having expertise in your specific issues.

Talking to an experienced debt counselor you will find a number of other benefits as well such as:

  • They will be accustomed with your type of situation and therefore will not be surprised when you speak to them much unlike your friends and colleagues.
  • You will not be nervous while talking to them about your debt problems and your secrets will be kept within them and not passed on to others.
  • Bound by a confidentiality agreement you will be able to have non-judgmental advice and suggestions that will help you and take you a long way in your debt settlement venture.
  • Since they have a detailed knowledge of debt law and also the debt resolution processes and the normal practices you will have a more leveled playing field and expert guidance.
  • They will not be intimidated with the creditor and will be able to speak to any specialist departments within the organizations. These departments will be more comfortable dealing with debt advisors rather than directly with you.

The credit counseling company or the debt adviser will often have a greater authority to speak to these departments within the creditor organization. They will stand a better chance to obtain a better debt relief solution that these departments have the direct authority to remit. All this means that you will stand a better chance to get a better debt relief.

That reason why these professionals are more receptive to these departments is trust. They are more often than not told by the debtors that they are unable to make payments anymore but they suspect of being duped often as well.  

If you work with a reputable debt advisor these departments think that your case is well reviewed by the expert, your budget analyzed properly, and believe when they say that their client is unable to make the payments. Apart from this obvious fact they also know that the commonly practiced intimidation tactics followed by the collection agents to obtain payments will not have any effect whatsoever on the debt advisor.

Get fast relief

When you work with a professional credit counselor, a reputable debt advisor or a successful debt settlement company you will be able to resolve your debt problem fast and not face any stress along the way. Therefore, if you have not working with any yet you can click here to know more about debt settlement companies and debt advisers and find one suitable for your needs.

The debt relief counseling services will offer you with different debt relief programs and services that will help you to manage, pay, reduce and even eliminate large amount of debts in quick time.

Their effective and tried solutions will even lower the monthly payment immediately and significantly whether it is a secured or unsecured loan thereby reducing your financially stressful condition by a considerable margin.

The good things aboiut it

The good thing about hiring such debt relief services is that these are:

  • Easy to avail and access and therefore you can sign up with them anytime you want to know whether or not you qualify to enroll and undergo a specific program
  • You will get easy and effective solution to any type of financial situation through their efficient service and effective programs
  • Through such kind of services you will get the best help and guidance to resolve your money and debt problem preventing you from filing for bankruptcy or go through debt consolidation process
  • You will learn more about your finances from such expert counseling services and know about all your options available to deal with your debts
  • The advice, evaluation, solutions and suggestions will help you in budgeting and financial planning so that you can save more money to pay off your debts and most importantly
  • You will not have to continue making minimum payments every month and eventually do no good to your finances.

Therefore, to ease your financial troubles choose these agencies and companies irrespective of the type of lean you want to pay off. Sometimes you will also get no cost guidance on debt consolidation and other options apart from financial counseling. Therefore, do not overlook these competent, knowledgeable and experienced experts.

Uncategorized Editor Tue, 04 Dec 2018 10:16:37 -0500
Debt Relief- Choosing Between Credit Counseling and Debt Consolidation Being in debt is undoubtedly an extremely stressful situation, which no one wants to go through. However, during certain situations, it becomes extremely important to take a loan from the financial institutions like banks or the credit unions. It has been observed that due to a number of personal as well as financial issues, a number of people are not able to clear off all their debts easily. This creates a bad situation, especially when that particular person owes more in comparison to what he is earning each month. When you are paying for all the other bills, it is your duty to ensure whether the debts are being paid correctly and on time. Even though you might think that you will never be able to get out of your withstanding debt, the truth is that there are a few options, which will allow you to get out of the financial crisis that you are in. Going for the different debt relief programs that are suitable with the requirements that you have, is one of the best options that you have for clearing your debts. Before doing anything else, you need to have a proper knowledge about different debt relief options that are there.

Credit counseling

An important option that you can consider is credit counseling, which is known as consumer credit counseling. Numerous credit counseling agencies are available both locally as well as online. You need to know that the best credit counseling agencies are the ones that do not charge anything. When you decide to contact a particular credit counseling agency, chances are that the counselor will spend almost an hour to discuss the financial problems that you are in. The agencies that are the best will not charge anything for this particular service.

Depending on the seriousness of the financial problems that you have, your credit counselor can recommend a structured debt management plan or a DMP. In this plan, the counselor is responsible for determining the amount that you are capable of paying, and then he will negotiate the creditors, to whom you owe money, on behalf of you. In some of the cases, the counselor can also attempt to make negotiations for reducing the rates of interest. If all the creditors or most of them agree to the debt management plan, you can stop paying them money. Instead, you have to send a monthly payment to the counseling agency, which will then distribute the payment to the creditors on basis of the agreed debt management plan.

A disadvantage that you should know about a debt management plan is that it takes almost 5 years for completion. Chances are that you will be giving up all the credit cards and you also have to control the urge to take a new credit card unless the plan has been completed. These are considered to be the biggest and most significant reasons as to why half of the debtors cannot complete the debt management plan successfully, because they are unable to control the urge of taking up a new credit card.

However, the benefit that is associated with this debt relief option is also something that you should know about. Your monthly payment is going to become lower in comparison to the total payments that you are constantly making. Also, your creditors are not going to harass you at any cost and you will not get unwanted calls from your credit company. You can click here to know more about debt relief.

Debt consolidation programs

Consolidating all the withstanding debts into a single manageable account is what debt consolidation is all about. The main objective of a debt consolidation program is eliminating the debts that have a high rate of interest and ensure that the payments at the end of every month are reduced significantly, thereby allowing you to think about only a single payment. However, this does not affect the total balance. Debt consolidation is only responsible for shifting all the debts within a single account.

You have the option of consolidating the debts by taking loans from financial institutions like banks, credit unions, or certain other sources. If you are the owner of your home and have equity, chances are that you will also qualify for the home equity loans or the homeowner equity lines of credit, and you can use these funds for paying all the other debts. These are referred to as the security loans because it is important that you keep them secured by making use of the equity within your home, as collateral. Home equity loans are also referred to as the second mortgages. No matter what you choose, you are going to lower the monthly payment in comparison to the total amount that you were paying at the end of each month. The interest rates on the debt consolidation loans tend to vary between 5% and 36%, as stated by

You can also get a personal or unsecured loan if you are not the owner of your home. However, the payment is not going to be as low as the payment that you would have got with the home equity loans. Debt consolidation is undoubtedly a great get relief option that you can consider as you will be able to avoid the debt collection agencies and the creditors, who keep on harassing you constantly. It is your duty that you do not take up a new loan or chances are that you will again go back to the same position from where you have started, and you will again struggle to make the payments.


While there are other debt relief options as well, credit counseling and debt consolidation programs are appropriate for a number of debtors. Before choosing anyone, you should have a sound knowledge about the advantages and disadvantages that are associated with them as well as the time that both of them are going to take for clearing off your debts. However, you need to understand that even you have to be extremely disciplined so that you do not go back to the same financial problems from where you have just been released.

Uncategorized Editor Tue, 04 Dec 2018 10:05:28 -0500
Things to Consider while Applying for Loans Borrowing is always considered to be a troublesome affair, not just in terms of finding an apt lender, but also to get it approved and until it is paid off fully. However, sometimes it becomes a necessity for individuals and businesses to borrow money to meet up with financial urgencies. In this article, we are discussing some essential aspects of money lending, which a borrower should know in order to ensure a hassle-free borrowing experience.

Different types of money lending to consider

There are various types of money lenders available in the financial market, which one can choose based your needs and priorities. Ranging from the most conventional mode of bank loans to the most advanced online lending, it is not a difficult task for one to reach to the apt lender and choose the right solution for your financial purpose in hand. Let’s discuss a few top options for individuals and businesses to consider.

  1. Banks

Applying for a bank loan is the simplest and conventional mode of availing funds for personal and business purposes. Even though, this it the simplest mode of fundraising, a bank loan are not accessible to everyone at all times. By utilizing a bank loan, one borrows money for a particular period. In fact, now banks are offering specific loan products with clear-cut terms and conditions, which makes it is easier for consumers to choose the most appropriate loan product. It is essential to have a good credit score to get a bank loan approved, and some loans require a personal guarantee or collateral security too for approval.

  1. The line of credit for businesses

Most of the times the need for quick funding is mostly for the businessmen, where the ideal business line of credit can be of help. This process works almost the same as a business credit card. Rather than availing a fixed amount in funding, the borrowers are given free access to funds from which they can withdraw as much money as needed within the agreed upon maximum amount. However, unlike usage of credit cards, interest rates of such business lines of credit are much smaller. These types of money lending may involve collaterals too regarding personal or business assets.

  1. Government loans

In the United States of America, there are many government sector money lenders, mostly Federal agencies like the U.S. Small Business Administration. These lenders offer easy terms to the borrowers with an objective of rural development, promotion of small business, ensuring the personal care of the lower financial class, etc. With these government-backed projects, individuals can borrow funds from banks or other authorized lenders, but agencies like SBA will act as a third-party to extend the credit and aid in repayment to the needy.

Similarly, there are plenty of other ways too for individual and business money lending as factoring, secured and unsecured loans, payday loans, credit cards, etc. to choose based on the need of the situation. One should be very careful and informative while planning to avail a loan and approach a money lender for this purpose.

Some warning signs to check for while choosing money lenders

As we have seen earlier, there are many ways to get a loan through Liberty Lending USA. Many times, it becomes a necessity for people to get a personal or business loan. So, it is essential to carefully consider the available lending options to identify whom to be contacted in case of a need to get a loan. Further, we will discuss some specific things one should check to identify the reliable lenders among many faulty lenders also in the lending scenario.

It is true that, as in case of any other sectors, there are a lot of fraudsters also in the money lending industry, aiming at looting the prospects. One primary thing to keep an eye on is that most of these fraudulent lenders are focusing now on online money lending, which makes it easier for them to do shadow operations. You can obviously look for online loans as there are a man good options, but be cautioned about the scammers to stay away. Here are some warning signs to consider.

Loan without any document

Stay alert if someone puts forth any too good to be true type dream offers. Primarily, the lenders are into this business to explore the scope of offering loan to collect back additional interest over time. For this, the only way to look for the dependability of the borrowers is by checking their documents and history. So, if you find any providers offering loans without document verification, there is a fair chance that it may be a scam.

No credit check

This is another attractive tagline many fraudster lenders use to lure the preys. The creditworthiness of an applicant needs to be assessed by crosschecking the credit score of the individual. Banks and other authorized lending institutions do a mandatory check of the credit rating. If any lenders tell you that there is no need for a credit check to approve a loan, then there is something fishy.

Need for an upfront fee

There are many cases reported like the lenders asking for a processing fee upfront, and once if it is paid the borrowers, the lender simply vanishes in the online ocean, untraceable. In case of genuine lenders, there may not be a need to pay an upfront processing fee. Fraudulent lenders may ask you to make a transfer first to their bank account to validate the transaction or as a processing fee, with which you need to be alerted.

Asking for credit card info

As the scam of collecting upfront fee is known by most of the people, frauds have adopted a new method of asking for the credit or debit card information of the applicants to use as collateral for the loan. Even though they promise not to touch your money, you will find your accounts getting swept the next moment you share the info. Genuine lenders may not want you to share any of your personal credit card information like the number or password etc.

While you are on loan or applying for one, it is also essential to check your credit reports from time to time to make sure that no entries are coming in it without your knowledge. Online loan scams are increasing in numbers, and the fraud players are always hunting for their soft targets. So, always be cautioned while planning to go for money lending.

Uncategorized Editor Wed, 28 Nov 2018 09:59:47 -0500
Debt Consolidation Loan – Different Methods and Their Pros and Cons According to figures released by the US Consumer Finance Protection Bureau at the end of 2017, there has been an increase of 9% in average credit card debt over the last couple of years. More worryingly, as per the average balances of credit cardholders with poor credit scores increased at a faster rate (26%) in the same period. What this essentially means is that more and more people leveraging credit card debt are finding it difficult to repay their dues on time.

Consolidating Debts to Manage Outstanding Dues

Examining the possibility of getting a consolidation loan is a good idea if you have a reasonably good credit score as if it is done properly, you can not only escape the wrath of your creditors but also save substantially on the interest and other expenses. Essentially, debt consolidation is just one method of refinancing your debts. You obtain a new loan that is the sum of all the debts that you have and use it to repay them; typically, these debts can not only be credit card dues but also personal loans, payday loans or any other expense that you have incurred but not paid up.

There are multiple ways of consolidating debts; some common one examined:

Home Equity Line of Credit

If you have built up substantial equity in your home, refinancing it to access funds can make eminent sense as the rate of interest is typically very low as the property itself is available as collateral. Instead of taking out a second mortgage, you can also consider a home equity line of credit (HELOC) that can save you a fortune in interest expense as there is a massive difference between the typical home equity loan interest rate and the rate charged by the credit cards. You can also possibly get a tax deduction on the interest paid on the home loan that you would not have been able to take advantage of when paying back credit card dues. The main disadvantage is that if you default on the loan repayment due to any reason, you might end up losing your home. If you opt for a variable rate of interest, you should also keep in mind that the current low rate can change and throw all your calculations out of gear.

Credit Card Balance Transfer

If you have been paying your monthly credit card dues on time, you can always ask the card issuer to reduce their rate of interest on new purchases and waive the annual fees. You can also take advantage of balance transfer offer schemes that typically allow you an interest-free period of 18-24 months. The advantage of a balance transfer offer is that you can really save huge on the interest. The deal can be made sweeter if you can negotiate a waiver of the usual balance transfer fees. Balance transfers work out the best if you can repay all your debt in the interest-free period, else you will need to identify another card with a similar scheme before the current promotion ends.

Using Retirement Funds

Taking a loan from your IRA can be very attractive since the rate of interest is pretty low and may also be zero if you pay back the money within 60 days. It is unwise to borrow against your retirement funds in case you need the repayment period to be a long one because of multiple ramifications; not only do you not earn any interest on the borrowed funds but also can be slapped with taxes and penalties that make the cost of the funds more expensive. However, these loans are very easy to avail of by those with poor credit scores as no examination of credit history is required. It is best not to use IRA funds unless you are absolutely certain that you can pay it back within 60 days as otherwise penalties and taxes will become applicable.

Personal Loans from Family and Friends

Asking for money from family and friends can be fraught with danger even though they are easily among the cheapest sources of funds. While you can give your family an interest rate that is better than what they had been earning from their banks, things can go sour if you are not able to repay them on time or even before time if there is a sudden demand. Family and friends may find it difficult to say no to you and this can cause strains in your relationships. It is important to get professional tax advice as the interest income in the hands of your lenders may be taxable and they will have to account for it. It is a good idea to draw up a professionally drafted agreement to prevent confusion regarding rights and obligations on either side.

Loans from Institutional Lenders

Even though banks and credit unions have some of the lowest cost funds, they are typically averse to lending for private use unless you have been a model customer for years. The extent of the paperwork is large and the time taken to process loan applications can be quite long since they have very strict lending policies and requirement of good credit scores for approving loans.

Getting debt consolidation loans from private lenders can be extremely quick and painless. If you have a good credit score, the rate of interest will enable you to save a packet and you can also restructure a longer repayment period to make the monthly payment more affordable. However, it is very important to deal only with reputable lenders so that you get a fair and transparent deal and not get scammed with high rates of interest and needless charges and fees even before the loan is approved.


While it is extremely important to make the right choice for consolidating your debts, it is even more important to analyze and understand the reasons why you were driven so deep into debt. You should try and take corrective actions that will ensure that spending never exceeds your income and that you can leverage debt while keeping your exposure under control.

Uncategorized Editor Wed, 28 Nov 2018 09:48:43 -0500
Portafina Champion The Need For More Awareness of Diabetes Portafina, a pensions company located in Kent, is paving the way in the efforts to bring more awareness of diabetes and raising money to help fund research into treatments.

Diabetes is a chronic illness that over four million people are thought to be affected by within the UK, and it is a subject that is close to home for Portafina’s managing director, Jamie Smith Thompson. Mr. Smith Thompson’s daughter has type one diabetes, so he knows only too well the effect it can have on a person’s everyday life. Passionate about the cause, Mr. Smith Thompson and the staff at Portafina have set up a series of fundraising events to raise money and awareness of diabetes, and are working alongside JDRF, the world’s leading charity funder of diabetes research.

Diabetes is a chronic condition that involves the body’s production of insulin, a key hormone that enables cells to use glucose as fuel. Type one diabetes occurs when the pancreas does not make any insulin or only small amounts. Type two diabetes is when the body does not use the insulin it does have in the proper way. Both types result in glucose being prevented from entering cells, so it builds up in the blood and causes a number of serious health issues if left unchecked.

Type one is the rarest form and typically begins in childhood. There are approximately 20,000 children under the age of fifteen who have type one diabetes in the UK. Type two usually occurs in adults, with those being overweight at a higher risk of developing the disease. Type two is mostly managed through diet and lifestyle choices, as well as medication.

JDRF is confident about the future of diabetes treatment and believes that better treatments can be developed and that a cure will be found. To reach that breakthrough though, more funding is needed.

Portafina staff have already raised over £1000, thanks to their Ride to Cure Diabetes 2018 cycling event, and donations can still be made through Portafina's Just Giving page. But now, they are asking for help from the wider community, and asking for anyone who is interested in helping to raise funds in any way to get in touch via Portafina's Facebook page or other social media accounts. You can also share the cause on your own social media pages, and help spread the word about this issue.

This is a great opportunity for businesses and individuals to be part of something great, and by working together, more funds will be raised to support research into diabetes.

Diabetes affects a person’s quality of life, both in the symptoms it presents and also the daily management and medications required in order to stay feeling well. The good news is that scientists are looking into new treatments, and we could only be a few steps away from finding a cure, making diabetes a disease of the past. So, join Portafina and JDRF to help to raise awareness and funding for this debilitating health issue.

For further info, please head to their Twitter (@Portafina UK), Portafina Linked In page or Portafina Youtube page.  

Uncategorized Editor Thu, 25 Oct 2018 09:34:58 -0400
The market will be always there tomorrow If you observe the trading style of other people, you will notice one common thing? Can you tell us what that common thing is? It is not the mistake because it is very common and it is a way of learning. If you are not doing mistakes it will only mean that you are not doing anything. The basic of Forex is learned through trial and error and mistake is expected to happen. The common thing that we want to talk about in this article is their hurry. They behave and place trades as if the industry is going to end tomorrow.

We know many false bluffs came out in the early years that the world is coming to end. It seems the predictions were wrong and we are still living and trading. It is hard to explain the behavior of people but whenever people focus on their trades, they become too serious and they get lost in the trading. The result is they place their trades like crazy people and lost all of their money. They do not know how to take some rest and again place the trades. This article will try to explain this behavior and tell you why this market will never extinct. It was there a hundred years ago and it will still be here. The only thing that is not certain is you, the traders will come and go but not the Forex.

You are the one who might not have the money to trade. This simple concept is not getting into the mind of the new Singaporean traders. They are always trying to place trade thinking this is the best trade they can ever take. Unless you can get yourself out from such paradox, you are not going to achieve your success. So train your mind and be a conservative trader in the Forex market.

The biggest industry will always be there

You may go extinct but Forex will not. It is the universal truth and accepts it. Thinking of the dinosaur and how they have banished? Fear not because it is protected by many authorities all over the world. As a Forex trader, you should always analyze the daily time frame data in your trading platform. You might be scalper yet it’s highly recommended to have a clear overview of the long-term trend. This simple practice will help you to execute a trade in favor of the market trend. You have to understand the simple concept of trend trading strategy. Play smart to survive in the biggest industry.

The winners never believe in luck

From our trading experience and years of time, we have noticed that the winners do it the most. Whenever they win some trades, they get a belief that they are having a good luck. It will soon run out and you need to place as much trades as possible within this time. It is like playing a game and you are having a good luck charm. Every try you make becomes successful and you kept taking on bigger risks until you lose it all. The only thing is there is no luck and all the winnings depend on your strategy and planning. The trend also plays a part but your luck has nothing to do with it.

The trend also plays a part but your luck has nothing to do with it.

This is the second explanation that can explain their behavior. People start trading with a goal and plan in their mind at the start but it changes when they deposit their money and place their trades on the live trend. They become hypnotized and they cannot wait for any moment to make their profit. They start taking big risks, they overtrade and they pass sleepless nights only to make their fortune in one moment.

Uncategorized Editor Wed, 10 Oct 2018 10:24:19 -0400
5 Ways UK Businesses Are Using Virtual Offices To Benefit Their Startup Business

Your startup really can benefit from a plan that allows businesses to establish an online format. This can mean wonders for your business in the UK because it eliminates the costs that go along with procuring office space. Furthermore, professionals in some of the UK’s larger cities no longer have to worry about paying exorbitant rents because the virtual office virtually eliminates the physical office.

Businesses are no longer confined to physical boundaries to establish themselves, and the startup is one example of how a tech-savvy world has moved physical reality into an online format. The virtual office can do this because all a person needs to manage a business online is a reliable connection, a device, and a plan for devising business infrastructure. Click on Servcorp London’s virtual office at to see exactly what is needed to run your office in this format.

Continue reading to find out how startups in the UK are using the virtual office to their benefit.

Avoid Complicated Leasing

One of the major benefits to UK business is that the virtual office has one the least complicated leases available today. For one, the length of these contracts are much shorter with some being month-to-month, and the deposits usually are only one month’s rent, making coming with startup costs easy. Because the leases are uncomplicated, businesses will find when relocating to another office space, that the transition is much smoother, especially if the serviced office provider has offices in other locations.

Manage Employees Effectively

Past versions of the virtual office were antiquated, and while supervisors could communicate with their employees, the ability to fully interact with employees in a timely manner was somewhat inhibited. Today’s virtual office software has made it possible for managers to fully engage employees, even being able to track their progress and communicate in real time. In fact, through online business management systems, companies can manage an online office effectively regardless of where the employee works.

Hiring Employees

Another place where the virtual office has helped startups is related to attracting and hiring talent. The virtual office, in many ways, has levelled the playing field where smaller companies can choose from a variety of candidates when hiring. As opposed to being confined to a geographical location, startups can now take advantage of scouting possible hires from around the world.

Furthermore, the virtual office has also changed the way small businesses hire people. In the past, most businesses outside of the guilds relied on part-time or full-time help. Today, cash-strapped startups can easily hire contract workers online for a simple job to avoid payroll costs associated with hiring full-time and part-time help in the UK.

Increase Productivity

Another added benefit for the startup business is that your employees are actually more productive when not confined to a specific office space. Productivity levels rise because your employees complete their work around their schedules if permitted. Moreover, the amount of money you spend in office space in comparison to the time your employees actually work with the virtual office is more cost-effective because when you do meet on-site your employees are actually at work.

Professional Image

Finally, unlike remote-working, your virtual office provides you with a phone number, a dedicated address, and office support. For many, these offices are located in some of the finest business districts in the UK, areas that would normally cost thousands to lease yearly. Ultimately, the virtual office can help you reduce overhead while providing your business with a professional image.

Begin Your Startup With A Virtual Office

The flexibility of the virtual office can provide your startup with the tools needed to manage an office online. With your virtual office, you can hire and manage employees, increase business productivity and project a professional image all on a dime. More significantly, this flexibility lends itself to allowing your business to expand or move around the globe with only an internet connection and a device.

Uncategorized Editor Tue, 04 Sep 2018 03:43:53 -0400
Guide to commercial property insurance The value of commercial property in the UK has grown by an average 3% a year since the turn of the millennium, according to a report in Finance Monthly on the 12th of February 2018. Commercial property investments currently total an estimated £486 billion and, if you want to expand your portfolio, 2018 may be just the year to do it, says Finance Monthly.

The figures help to underscore the considerable sums invested in commercial property. With that scale of investment, every single property needs to be adequately protected against loss or damage – and the means for securing that protection lie in commercial property insurance.

What it covers

So how does commercial property insurance safeguard your investment – what does it cover?

Building and contents insurance

  • the principal concern of any commercial property insurance, of course, is to safeguard the structure and fabric of the building, and its contents, against a wide range of risks – including flooding, fire, explosions, storm damage, impacts from vehicles or falling objects, theft and vandalism;
  • your tenants or leaseholders remain responsible for arranging their own insurance for the contents they own;

Public liability insurance

  • more than any other type of property, perhaps, commercial property is more than usually vulnerable to the liabilities that come with being the owner and landlord of the property;
  • commercial buildings are likely to attract more than the usual number of visitors and accommodate your tenants and their staff – if any one of these, a neighbour, or a member of the public is injured or has their property damaged through some connection with the property, you may be held liable and ordered to pay compensation;
  • those claims may be substantial – especially if injuries or even death are involved – so the public liability indemnity insurance typically incorporated in commercial property insurance is usually no less than £1 million and is frequently £5 million or more if the building is large or especially prestigious;

Compensation for loss of rental income

  • you are likely to have invested in commercial property not only for the expected capital appreciation of the asset but also the steady income from the rents you receive from tenants and leaseholders;
  • if a serious insured event leaves the property temporarily unusable, that rental income is forfeit, so commercial property insurance also typically provides for compensation for the loss of income;

Buying commercial property insurance

  • given the size of your investment and the potential for severe losses through damage to the building, your liabilities as the landlord or loss of rental income, there is a lot at stake in the commercial property insurance you arrange;
  • therefore, you might want to draw on the expertise and advice of a specialist broker to help identify your needs and requirements for suitable cover at a competitive price;
  • a specialist broker’s knowledge of this sector of the insurance market helps to ensure that you are offered the most competitively priced products and also comes to the fore in assessing and managing the risks to which your commercial property is exposed.

If you are considering an investment in commercial property or planning to expand or diversify your current investment portfolio, therefore, you need to consider the safeguards and protection offered by commercial property insurance.

Uncategorized Editor Tue, 17 Jul 2018 10:19:50 -0400
Is BYOD Beneficial for your Business Startup?  Despite a strained economic and geopolitical climate, UK-based SMEs continue to showcase almost indefatigable confidence. In fact, 65% of small and medium-sized firms in Britain predict growth of up to 40% during the next two years, against the uncertain backdrop of Brexit and a reported shortfall in available funding.

Much of this has to do with the technologies and opportunities now available to SMEs, many of which have the potential to minimise start-up and operational costs while also optimising growth potential.

Take the renowned concept of bring-your-own-device (BYOD), for example, through which entrepreneurs allow their employees to utilise their personal devices to complete core business tasks. But what are the benefits of this practice, and is it a viable option for your SME?

The Benefits of BYOD, and why They're Relevant to SMEs

One of the most compelling arguments for BYOD revolves around its natural advantages, which can be leveraged by SMEs to achieve a quicker and more cost-effective route to market.

In simple terms, deploying the principles of BYOD negates the need to invest in costly hardware such as smartphones, personal computers or PDAs, while it also transfers the cost of maintaining these devices directly to users. This taps into the increasingly prominent role that technology plans in the everyday lives of modern consumers and employees, with more than six million Brits now owning both a smartphone and a tablet in the modern age.

It's also possible to buy your phones smart for business use and identify ways in which users can make savings of their own, primarily by pairing a SIM-only contract with a carefully selected data plan to drive more cost-effective usage.

As a result, startups and burgeoning SMEs can invest more capital into strategic activities such as sales, marketing and operations, while contributing to a more efficient and agile business model.

At the same time, they can empower their staff members, studies have also found that in excess of 70% of firms believe that BYOD improves employee productivity and subsequent customer response times. This has much to do with the fact that your teams have the flexibility to use devices outside of traditional work hours and in a way that best suits their preferred modes of operation, creating a sense of empowerment that can drive businesses forward.

Implementing a BYOD Policy – The Key Considerations

While the benefits of implementing a BYOD policy are easy to see, the success of this depends on effective implementation and your ability to consider aspects such as data protection, wireless network security and financial implications. These include:

  • Access Rights and Data Security: The EU is set to unveil a revised data protection regulation later this month, in the form of the GDPR. UK firms will need to adhere for the foreseeable future, and from the perspective of BYOD it's important that firms can guarantee relevant network accessibility while also protecting sensitive information. To achieve this, you'll need to empower IT as an enabler, ensuring that data is stored securely while also accessible across a safeguarded, wireless network.
  • User Accountability: One of the risks associated with BYOD is that users themselves bear a heavy responsibility when it comes to the secure handling and transfer of data. So, while you must never lose sight of your own responsibility for the security of your businesses network and data (particularly as your firm grows and more devices are brought into the workplace) it's imperative that you also create a culture of individual accountability among your employees.
  • Financial Management: As more devices are integrated into your businesses network, you're likely to encounter a higher proportion of support issues. This can incur additional costs, so you'll need to adopt a proactive approach to managing and negating these. More specifically, you should implement a strict and clear policy for employees who are reporting issues, as you look to optimise efficiency and correct issues as quickly as possible.

Ultimately, the decision of whether or not to employ BYOD into your SME is a personal one. With the right policy, however, there's no doubt that this can deliver huge benefits for your business in terms of cost, productivity and bottom line profitability. 

Uncategorized Editor Fri, 18 May 2018 22:22:57 -0400
Top Ways to Build a Loyal Customer Base One of the most critical aspects of sustaining a successful business is by building a loyal customer base. Whether your base is in the B2B or B2C sector, both types of client are necessary for you to operate as a business in your chosen industry. Although they are vital to company success, this area can be one of the most difficult to grow especially with the amount of competition nipping at your heels. Building a strong and loyal customer base takes time, patience and a strong will to push it in the right direction. Quality often means so much more than quantity when it comes to this area too, as you can have a database of millions but if only a few are interested in what you’re selling, it could spell disaster for your company.

So how do you build a loyal customer base and convince them to trust your products and services? Take a look at some of the ways to do just that.

Find your niche

Establishing a client base in your niche is paramount to business success. This might seem like you are narrowing the market too tightly, but why waste your efforts on people that will not have any interest in what you have to offer. Building a quality portfolio that responds to your brand is vital for getting these customers to come back time and time again. This stage can also be one of the most time consuming especially for small businesses that have little time to spare. To make life easier, using an email address finder can ensure you have targeted information while saving time during the contact stage.

Treat customers as people, not a statistic

In today’s buying culture, it is essential for customers to feel part of the process. Both B2B and B2C consumers want something personalized to their needs and if they cannot find that in your company, they will not think twice about going elsewhere. As most consumers purchase goods and services through recommendation, it is vital to have a good reputation amongst people to prosper in a competitive climate.

Get feedback to improve

Feedback is a vital part of how your business adapts to customer demands. If you don’t take it onboard, you may fall behind against competitors who are striving to improve and get ahead. Asking for feedback should be a part of your processes, and you should not be afraid of what might be disclosed. Negative feedback has its place and can help your business make adjustments to do better in the future.

Reward loyalty

Everyone likes a freebie, and it can often be a draw for new customers or clients that come on-board. Although this is a useful tactic in most cases, ensuring you don’t forget about your existing customers is vital to sustaining good relationships. There are many ways to reward loyalty including discounts, offers and special prices for returning visitors.

Building your customer base can be a daunting task but utilizing the above points will help get you started. Remember, without your customer, your business wouldn’t be thriving like it is today, so make sure to treat them fairly.

Uncategorized Editor Sat, 05 May 2018 08:17:43 -0400
Outsourcing vs. Buying Equipment for your Landscaping Business Starting any business requires a substantial amount of capital that could bankrupt you if the business is unable to break even in the allocated time. At times, you may have to make a spousal RRSP withdrawal to pay off your bills or just to survive and especially when you spend too much of your capital on assets.

Naturally, a new business will require basic assets.

  • Truck and Utility Trailer

Lawn mowing equipment is heavy and will need a truck to get it to its destination. Relying on rentals at all times may be a bit expensive for our company and so you may one to buy one that you will use for our personal errands as well as the business. The more important thing is to remember how to apportion the expenses when doing your accounting.

Of you have lots of equipment that needs hoisting and holding down in place, a trailer is a good idea as it has restraints that will keep the movable items in place. A new trailer will cost $1,500 and above while side rails and a ramp gate could go for $800 and above.

  • Mower

A mower is our most important equipment as almost every activity in grounds maintenance relies on it. The prices for mowers depend on brand and power among other things. If you have enough capital, buying these would be more beneficial to leasing them but that would also depend on usage.

  • Safety Gear and Other Gardening Tools

Leaf blowers, helmets, earmuffs, and work boots are a must have in the industry as you will be working with potentially dangerous plants. The noise goes was about 95bB and so it needs muffling. Most of these items are quite small and reasonably priced and so there would be no need to lease them.

Why Lease?

If you are only getting started, then you may not have the capital required to get in the business. The cost could easily add up to over $200,000 but there are companies out there specializing in leasing these equipment.

  • Cheaper

If you need several mowers per week and for a limited time, it would cost less to lease than to buy them only to store them when you don’t need them. Also, storage cost that most people hardly consider adds up and makes the cost of doing business higher than necessary.

  • Access to Quality Equipment

The higher the quality of the equipment, the more it costs and the better job it will do, presumably. Since technology keeps changing, you may prefer to just lease equipment that promises to give you great results as opposed to buy one that gets overtaken by new technology.

  • Maintenance is out

Since you don’t own the equipment, you are not mandated to maintain it. Your only responsibility is to ensure that it gets back to the sourcing company in good condition. You will also not need to worry about its security as long as the equipment is not in your premises.

Do your homework

Always do your homework before deciding what works best for you. Both small and large companies benefit from leasing especially with the ever-changing technology.

Uncategorized Editor Mon, 23 Apr 2018 23:46:44 -0400
Business 101: How To Reduce Startup Costs When you first start your construction business, you need to find a way to reduce the initial startup costs to maintain a steady, sturdy return on investment. Initially, there won’t be a hugely significant return on investment because you do, in this particular case, need to spend money to make money. However, this doesn’t mean that you should just freely spend money. As any businessperson knows, you need to be, after the initial startup phase, spending less than you earn. If you don’t do that, then all of that spent money turns into debt which you may not be able to pay off. And this, of course, derails your chance to create a thriving and successful business.

One of the most important things you need to do when starting your business is to consider the cost of materials that you will need to purchase. Also, you’ll need to be able to recycle them, reuse them, and reduce your need for them. Around twelve-percent of construction materials are wasted when they don’t need to be. There are many inexpensive ways of recycling materials which will lessen the costs of disposing of those old materials. With the help of strong planning, you can get a good idea of all that you will need. That way, you aren’t forced to either buy a bunch of new materials or dispose materials you can no longer use. Remember, though, there are a lot of materials that you can reuse, provided you store them properly. This is imperative to remember, and you will have to put a bit of extra money upfront to do this, but the rewards of doing so are hugely valuable.

Negotiate your contracts and make sure that you take the time to work with your suppliers to build a relationship with them. If you don’t do this, it just doesn’t work. Relationships are the key to maintaining and sustaining a successful construction business, and this will save you money on startup costs, as well as allowing you to continue saving money as you continue to run your business.

Make the tools you have cost-efficient. As I’m sure you already know, things like backhoes and trucks are not cheap. However, you can rent these from a rental company, like Flex Fleet. This will allow you to rent trucks to transport materials and employees to the site. Rent what you need for that project then return them when you’re done. It’s that simple.

New technologies can be a little expensive at first, but a big part of reducing your startup costs has to do with making sure that your dollars go as far as they can.  Invest in software that will allow you to manage your finances and business in a more efficient and streamlined manner. Even free cloud software is greatly beneficial.

If you do those things, you’ll reduce a lot of your startup costs and you’ll save a lot of money down the line as you continue to run your business!

Uncategorized Editor Wed, 18 Apr 2018 11:27:34 -0400
UK Freezing Weather Impacts Economic Growth, Derails Previous Predictions The beginning of this month, the UK began to brace for more than snow and freezing weather. Experts warned that the bad weather would send a chill over Britain’s economy and lead to a short-term hit to growth. This is disappointing news after the encouraging expectations at the beginning of 2018.

Many economists had forecasted that the first three months of this year would experience a 0.4% GDP growth. Now, the weather is expected to impact sectors like retailing and construction. The retail industry will feel the effects of the harsh weather conditions as well. Supply chains of big businesses and restaurants and the travel sector will also be affected.

Retail expert Phil Dorrell says that the snow and ice could be a “disaster” for the high street, since more people will be staying home and doing their shopping online. The Federation of Small Businesses (FSB) said that many of high streets have been desolate during the severe weather conditions. The chairman of the FSB, Mike Cherry, stated that firms “will feel the pain of the temporary drop in trade.”

In fact, economist Howard Archer, chief adviser to the forecasting group EY Item Club, says the weather is going to cut the 0.4% GDP growth in half. He says if this weather persists for too long, it could reduce the first quarter GDP to 0.1% or 0.2%.

Archer went on to say, "There will obviously be a significant hit to UK economic activity.” However, he also stressed that it is "important to bear in mind that much of the lost activity will eventually be recouped".

In the coming weeks, these businesses may discover that they need a boost of cash to cover day-to-day costs, like paying their employees. Rent, utilities and other expenses may become a challenge as well. A merchant bank account may be the solution they are looking for, not just for payment processing services but for fast, flexible business funding.

"Even among those which have battled on, many have been affected by customers or supplies being unable to reach them. The financial cost of severe weather events on small firms averages at around £7,000 for each affected business.”

“It comes at a time when many have been affected by rises in business rates, increasing employment costs and the effects of the weak pound," Cherry explains.

Author Bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who also enjoys to write, play guitar and camp. Bestpaymentproviders is UK's best merchant bank account company, serving both traditional and high-risk merchants.

Uncategorized Editor Fri, 06 Apr 2018 01:43:14 -0400
Tradesmen finance options Burgeoning demand for their services and a general shortage of the necessary skills mean that some tradesmen are able to earn six times the UK’s national average wage, according to a report by Simply Business on the 19th of September 2017.

Like any small to medium-sized enterprise (SME), however, the successful independent tradesman is from time to time likely to need access to additional external finance. It might be required for:

  • meeting a temporary shortfall in your cashflow;
  • purchasing additional tools and equipment;
  • advertising and marketing your skills and services;
  • seizing an order or commission that is too good to miss; or
  • expanding your business.

Faced with any of these or other opportunities, what are your options for tradesman finance?

Tradesman finance

As a busy and hardworking tradesman, when you want to borrow money for your business, you want to do so as simply and in as straightforward a way as possible, so that the requested funds are available to you as fast as possible.

To achieve that end result, you are likely to need a lender who goes out of their way to understand your business – a lender who may have been directly involved in running a small business themselves. That means a lender who is prepared to work with you in assessing the appropriate business loan to meet your current objectives, within your existing financial constraints.

Your options for tradesman finance then become a question of deciding how much you need to borrow over what period of time. Typically, business loans for tradesmen may be available from as little as £5,000 or so, right up to a maximum of £100,000. The critical issue of the cost of that credit also needs to be taken into account.

Some specialist lenders may be prepared to express that cost of credit as a single fixed sum, including all the interest and fees, together with the amount borrowed, repayable in equal instalments over the agreed term of the loan. That gives you the certainty an knowledge likely to make managing the repayments and your ongoing cashflow considerably more straightforward.

Nevertheless, you are still likely to appreciate flexibility in any schedule of repayments. If you encounter further cashflow or other temporary difficulties, for instance, you might need to delay or reschedule repayments. Some lenders are sufficiently sympathetic to such requests, discuss with you any alternative arrangements available and impose no financial penalty for the changes made.

On the other hand, if the tradesman finance you secured successfully boosts your business, you might want to clear the outstanding loan ahead of time and repay the balance early. You might want to choose a lender who allows that course of action without imposing any penalty.


As a tradesman, you are likely to be working in a challenging and fast-moving business environment – you want decisions about any borrowing to be made quickly.

To meet these demands, it is now possible to make an online enquiry about borrowing the amount you need, over a chosen period, and to receive a decision in principle almost immediately.

If your request for tradesman finance is approved in principle, this is followed by the lender’s consideration of a formal application, to which a decision may be given and the funds transferred electronically to your business within little more than 48 hours.

Uncategorized Editor Mon, 19 Mar 2018 08:36:34 -0400
Motor trade insurance tips If you are a motor trader, the vehicles that come into your possession – for the services you offer or because you are buying and selling them – are exempt from the rules that apply to private cars under the so-called continuous insurance enforcement legislation.

Instead, you may register as a motor trader and have the right to use trade plates in place of separate tax and change of ownership each time a vehicle comes temporarily into your possession.

To register as a motor trader, however, you must provide evidence that you have motor trade insurance – which extends legally required insurance cover to any named driver, whatever the particular vehicle (already in trade use by you or owned by one of your customers).

Here are some tips, therefore, on what to look out for when arranging your motor trade insurance:

Your general approach

  • it matters little whether you are a large, franchised motor dealer or a one-workshop motor mechanic, whether you run a valeting service or are simply buying and selling cars on a part-time basis to earn a little extra cash – the principles of motor trade insurance are the same;

Road risks insurance

  • this is probably the heart of any motor trade insurance since it provides the legally required third-party cover, together with any additional accidental damage insurance – such as third-party, fire and theft or comprehensive cover you need;
  • this cover applies to any vehicle that comes into your possession, is used for trade purposes and is driven by a driver named on your trade insurance certificate;
  • when a potential buyer wants to test drive a car you have for sale, this is also the form of insurance that grants the necessary cover;

Tools, equipment and premises

  • whether you are preparing cars you have bought for resale, repairing, servicing or maintaining them for customers, or even providing a valeting service, you are likely to have invested in a range of tools, equipment and machinery;
  • to safeguard that investment, you might want to ensure that your motor trade insurance provides the necessary protection against theft, loss or damage;
  • if you are operating from premises that you either own or lease, you might also want to consider the – often optional – possibility of insuring the structure and fabric of the building against such major risks as fire, flooding, explosions, impacts, vandalism and theft;

Liability insurance

  • often overlooked by those setting up their first small business are the risks associated with your liabilities as the owner;
  • amongst these is your public liability in the event of a customer, a visitor to your premises, a neighbour or a member of the public suffering an injury or having their property damaged through some contact with your business, for which they hold you liable;
  • in the event of a successful claim, you might be ordered to pay a substantial sum in damages – especially if personal injuries are involved;
  • public liability insurance indemnifies you against such claims and the legal costs and expenses typically involved in defending them;
  • this is designed to ensure that you meet any claims raised by employees who may have been injured or who have contracted a longer-term medical condition through their work for you and the legislation requires you to hold at least £5 million of indemnity.

Any motor trader has the requirement for specialist motor trade insurance to avoid the need for separate cover for each vehicle that comes into his possession. By following these tips and suggestions, you may be certain of arranging the insurance appropriate to your individual needs and circumstances.

Uncategorized Editor Tue, 20 Feb 2018 07:30:27 -0500
Finding the right travel website designers Back in the 1970s, the Internet and travel websites didn’t exist.

In those days, finding someone to generate a software solution usually involved finding a programmer. The more eccentric the individual was and the more incomprehensible techno-speak they used, the more in demand they typically were!

Business knowledge

It is only over the last 20 years that sponsoring companies have started to deemphasise the need for perceived technical genius in the sense of coding. That is an important change driven by the realisation that automating (programming) a bad business process on a website doesn’t give you a good process – it simply gives you a faster bad one.

Therefore, today one of the chief criteria when looking for travel website designers might be organisations or individuals who, at the outset, have an excellent understanding of the basic travel industry.

They also need to understand the end customer and peer-to-peer business processes within the travel industry because if they don’t, then technical skills alone may not compensate for their naivety and you may be back to fast bad processes.

Graphics knowledge

Another huge change in the selection criteria applied to travel website designers over the last 10 to 15 years has come about as a result of the increased display capabilities of technology.

The explosion of graphics and intuitive customer engagement models, such as touch screens, has meant that graphic design has become an exceptionally important skill for travel website designers. An extensive and demonstrable track record in that is important, as you may know if you have ever seen sites where such skills were presumably absent.

Customer interface psychology

This is closely linked to the above-mentioned business process skills but with some differences.

Perhaps the easiest way to envisage this is to consider those websites you might have visited, where you find yourself looking at a screen containing no clear indication as to what you need to do next to progress further. Other examples include screens asking for information which is highly ambiguous.

Website designers need to bring skills to the table that allow them to empathise with the customer engagement experience, so as to ensure that everything required is visible when needed and presented in a logical sequence.

Technical skills

Having earlier slightly downplayed this area, such skills are, of course, as important today as they have ever been.

Examples of what happens when a website designer is unable to deploy such skills, can regularly be seen on websites when clicking buttons that do nothing or which generate only technical error messages.

A commitment to quality

If you have ever used a website which failed to function correctly, you should be questioning not the programming error but why it was not picked up in the website developer’s testing regime.

It is essential that travel website designers have a total cultural commitment to quality inspections before they release their products to you for final testing and acceptance. This should not be a role that they somehow delegate to you.

Post implementation support capabilities

Even the best-engineered websites will occasionally encounter some form of technical problem.

In such situations, your business may come to a grinding halt until it is fixed. That is not the time you’ll want to find that there is nobody available in your designer’s office to assist or that they can’t get back to you for a couple of weeks because they’re too busy.

Be absolutely certain that you understand what support they will be able to provide you with and under what response time circumstances. Don’t wait to have that discussion for the first time in the context of a live technical crisis!

Uncategorized Editor Mon, 05 Feb 2018 10:55:43 -0500
Insurance requirements for your manufacturing business The term “manufacturing business” can mean different things to different people.

It might conjure up images of a vast site producing enormous quantities of goods and/or materials but in practice, significant numbers of manufacturers are relatively small-scale operations. In some instances, it might even be a sole-trader manufacturing specialist antique machine parts from a unit in their own garden.

Whatever the size of your business though, it might benefit from manufacturers’ insurance.

The risks

Some risks might be self-evident, such as damage to your premises through natural events such as storms, floods, subsidence and fire etc.

In other cases, the risks might be less obvious, possibly including things such as:

  • product liability. If you’re selling something you’ve manufactured then potentially you may be held accountable under law should it subsequently be proven to have been faulty and have led to problems as a result;
  • Your ongoing existence is put at risk by a customer who has failed to pay your bills when due;
  • professional liability. This might be an issue if you’re offering advice and guidance as part of your manufacturing business and such advice is subsequently shown to have been incorrect leading to material losses for the customer concerned;
  • cyber liability. If you accidentally infect or unintentionally provide an unauthorised gateway into another company’s IT systems, you may be sued for compensation. Cyber-attacks are a growing risk, as this BBC report published 23rd January 2017 indicates;
  • errors and omissions. The reality of life is that some of your customers and perhaps even suppliers, might not simply be prepared to forgive and forget errors or omissions on your part that have caused them negative consequences;
  • loss in transit. That might happen when your finished products outbound or raw materials inbound, are lost or damaged in transit.

This is by no means a comprehensive list of the risks faced by a manufacturing business. The list might illustrate though why it could be important to have appropriate manufacturing business insurance in place.

Customise your cover

Of course, not all of the above risks apply equally to all manufacturing businesses.

For example, if your business is operating as a sole trader, you typically won’t need employers’ liability insurance. If you only ship your finished product based on payment in advance, then credit risk insurance perhaps won’t be necessary either.

That’s why it’s important to think carefully about the exact operational nature of your business and the risks it faces. From that, you’ll be able to consider what sort of cover you need and what sort you find to be either inapplicable or not really necessary in your situation.

Seek advice

That sort of analysis isn’t always easy and it will need to be matched against an understanding of what policies are available and how they can be adjusted to accurately reflect your requirements.

Should that be the case, it might be advisable to discuss your situation with an experienced provider of manufacturers’ insurance. They should be able to outline the cover that’s available and your options for finding suitable cover at a cost-effective price.  

Uncategorized Editor Thu, 25 Jan 2018 23:15:43 -0500
The step by step guide to VAT and tax loans Well within living memory, some businesses regarded tax bills as things that had to be taken seriously but which could, typically, be put onto the back burner in payment terms.

That was because the government’s tax collection regimes of the time were relaxed and broadly speaking, often erratic. As a result, if a business simply didn’t have the funds to pay when the amount was due, it was tempting and actually possible to simply delay payment – typically without effect.

Today, those times are now consigned to history and the study of “how things used to be”. In the modern business world, the collection regimes of HMRC and other government departments are typically very efficient and focussed.

If you pay your tax late in the 21st century, you run the risk of penalty charges and potential fast recovery action.

Funding challenges

For all that evolution, one thing hasn’t changed for many businesses. Tax bills can still arrive at a bad time in terms of having the funds available to pay them!

There might be many reasons for that. Perhaps:

  • a major investment programme you’ve undertaken is over-running and you’re experiencing delays in the revenue generation you expected as a result;
  • a misfortune has led to some short-term business losses; etc.

It doesn’t matter what the reason, it’s possible you might suddenly find a substantial tax bill on your desk and not have the working capital to pay it when due.

Your options

If you find yourself in such a position, you may find that you’re facing relatively few options:

  • it might be possible to raise the required sum by disposing of an asset. That, however, might inhibit your business going forward;
  • in some cases, your bank might be willing to assist through a loan, however, you may not wish to advertise to your bank that you have such a funding challenge if they’re also providing you with other business banking facilities at the same time;
  • theoretically, you could discuss an extension with HMRC but their ability to help may be limited as typically will be their patience. You should most certainly NOT simply ignore the bill;

Tax loans – how they work

VAT and tax loans are specially designed to help you bridge funding gaps where tax bills are the problem.

VAT and Tax loans are generally unsecured. VAT loans are normally a 3-4 month term and Tax loans can be up to a 12-month term.

In order to obtain such a loan, you’ll typically need:

  • some evidence, usually via official accounts, that your business is broadly healthy – in other words, that your cash flow problem is a temporary and a typical problem rather than an indication that your business isn’t viable;
  • proof of the sums required (usually HMRC demands or similar etc.).

The mechanics of the funding solution that’s appropriate for you may vary depending on your individual situation because not all VAT and tax loans are equally suitable for all businesses.

Your options might include:

  • release of equity through loans against existing assets;
  • personal loans;
  • factoring/invoice discounting – to free capital you have trapped in your credit control operations;
  • short term business loans.

In fact, there are many different approaches to finding a solution for those tax bills that you’re worrying might be unpayable from your own daily working capital.

Rather than fret or even worse, allow an unpaid debt to arise with HMRC, why not take advice now on the options that might be suitable for you?

Uncategorized Editor Thu, 11 Jan 2018 10:17:20 -0500
Guide to property renovation insurance If you are a construction company or a property developer, you are probably aware of the handsome profits to be made in renovation works. If you were in any doubt, you might want to take a look at an article written by a property developer and published in Home Building magazine on the 15th of July 2017.

The author’s tips on renovating for profit may appeal to any builder, construction company or developer.

Property renovation insurance

With your eye on the prize of attractive profits, however, these also need to be guarded through the cover provided by property renovation insurance.

What is this likely to cover and how does it protect your proposed building works?

Contractors’ “all risks” insurance

  • just as the title suggests, this is an element of insurance cover that forms part of many construction insurance policies;
  • it does very much as it says, by providing cover against the twin risks normally associated with any building project – loss or damage to the structure and fabric of the building itself and, claims from third parties alleging injury or financial loss, as described by Investopedia;
  • its goal is to protect the interests of all parties to a construction project – both contractors and owners of the property;

Engineering “all risks” insurance

  • similarly, engineering all risks cover provides protection for both contractor and customer against engineering design or works which result in injury or financial loss to third parties – and, so, forms an integral part of many construction insurance policies;

Public liability insurance

  • this is typically an important component of property renovation insurance, because of the potential for such claims to assume very significant proportions if a visitor to the site, one of your suppliers, a neighbour or a member of the public is injured or has their own property damaged as a result of the building works;
  • typically, public liability insurance provides a minimum of £1 million against such claims – but this may be varied according to the size and nature of the building works;

Employers’ liability insurance

  • an essential part of most forms of construction insurance is one that is required by law;
  • any employer has a legal obligation to hold at least £5 million of employers’ liability insurance to ensure that claims made by (current or former) employees who have been injured or who have contracted a longer-term medical condition may be met by the employer;

Professional indemnity insurance

  • as a builder, construction company or developer, your customers are entitled to expect an appropriate level of professionalism and competence in the property renovation projects you take on;
  • if you fail to demonstrate that appropriate level of competence and your customer suffers a financial loss as a result, you may be sued for damages;
  • professional indemnity insurance provides indemnity against such claims.

Additional cover

While property renovation insurance is an important consideration, don’t forget your fleet or van insurance as part of your overall project protection.

Whatever size or complexity your operations, you are almost certain to run one or more vehicles – to transport personnel, supplies and materials from one building site to another.

The law requires that an appropriate form of motor insurance or fleet insurance is in force, so many construction insurance policies may also make provision for the necessary cover.

Construction and property renovation insurance may cover a number of important headings, all of which help to safeguard you against the risks in construction projects such as these.

Uncategorized Editor Tue, 09 Jan 2018 08:32:34 -0500
How to Put a Value on Your SaaS Business For many business owners, the thought of selling a business they’ve worked so hard to build may never even come up.

However, for many SaaS, PaaS, and IaaS entrepreneurs, the business was built with the intentions of selling it one day and letting an investor pick up where the entrepreneur left off.

That means they’re going to need to figure out how much their business is actually worth to a buyer.

Often, sellers look toward the figure other businesses have sold for, which can create a variety of problems. Businesses tend to sell on a wide spectrum of values, and one business may be significantly different than the next.

Some businesses will have a full team of people with 10 years of consistent growth, while others may be 1 or 2-person operations with a couple of years of rapid growth. Each of these businesses will have different values to different investors.

All this means is that to understand how much your own business may be worth, you’re going to need to look at the factors that buyers are going to be looking at, and then make sure your own business can stand up against other businesses should you decide to sell it. Even if you don’t wish to sell, it’s always good to see where your business fits in the current marketplace.

Your Value Has a Lot to Do with Your Growth

As investors look at your business, one of the first factors they’re going to dig into is the business’ growth and how consistent that has been since you started building it.

They want to see how you are generating new leads for the business, how you’re converting those leads into new customers, which products and services you’re offering, and how long you are able to keep a customer.

The best businesses are able to show investors how they are performing in these key areas.

If your revenue rises and falls, investors may be less willing to offer a higher asking price than they would if the business has grown consistently from year to year. If there is still potential left in the business, their offers may go up, as well.

If your sales are constantly going up and down, or if you’re heavily reliant on a single large contract for the bulk of the business’ revenue, buyers could see the business as risky and not want to submit an offer.

Your Marketing Will Affect Your Valuation

You will also need to show the marketing strategies you have used to grow the business.

Buyers want to see the traffic sources that you’re relying on, and how well you’re able to generate new leads through content marketing and search engine optimization. These two strategies can generate incredibly targeted high-quality leads.

Unfortunately, many SaaS, PaaS, and IaaS business owners do not place enough emphasis on search engine optimization or content marketing, and end up leaving a lot of money on the table during the sales negotiations because of it.

Clients may have been flocking to you, lapping up your innovative offering but that’s unlikely to last forever. There is always someone else with a similar and maybe better idea waiting to open up shop. Investing in marketing is important for the long term positioning of your brand and growth of your business.

Investors Do Not Want a New Job

The amount of time your buyer needs to put into the business once they acquire it also plays a role in how much they’re willing to pay for it.

To give you an example, if you are currently putting in 40 to 60 hours a week just to maintain your business, and if you fail to put in those hours the business will begin to slide, it’s going to be seen as risky by investors.

On the other hand, if you have a completely hands-off business, investors may also devalue the business because they believe it may be being neglected in some way.

The real value lies in the fact that investors do not want to buy a job for themselves but they do understand that maintaining a high-end business does require some sort of effort on their part.

ARPUs Aren’t Always Reliable

Most business owners will want to rely on their ARPUs, or average revenues per user, to figure out how much their business is worth.

Investors do know that your APRUs will eventually be used in the valuation, but comparing the APRUs from one business to the ARPUs of another business can be incredibly misleading.

To help you understand this concept, let’s take a look at two different SaaS businesses. One sells directly to consumers and has lower APRUs as a result, while another has higher APRUs but sells directly to large corporations. Each business will be worth a significantly different amount.

How Quickly You’ve Grown Is Important

When it comes to SaaS / PaaS / IaaS businesses, how long you’ve been in business isn’t nearly as important as how well you have grown, and whether the growth you’ve experienced is able to be sustained.

You’re going to need to be able to show investors your churn rates, lead conversion rates, and any growth trends that you’ve identified as still remaining in the market.

You’ll also need to look at how much your business depends on annualized subscriptions and monthly subscriptions. Businesses that are more reliant on annual subscriptions will take longer for an investor to see an ROI.

Your Business Should Be Transferrable

Some businesses, while incredibly profitable, are almost impossible to sell because they cannot be easily transferred to a new owner.

To give you another example, if the code in your service is undocumented and full of bugs, you have financials that are hard to understand, or there are agreements in place that the business relies on that cannot be transferred to a new owner, obtaining a high valuation may be impossible to do.

Digging even deeper, you may have used a payment processing company that investors cannot use -- such as PayPal, that cannot be used in certain countries around the world.

To obtain a high valuation, you need to make sure that an investor can easily step into your role as the new owner without worrying about the business dropping in revenue or having to deal with putting out fires you should have put out before you listed the business for sale.

How Much Is Your SaaS Business Worth?

This isn’t a simple question with a simple answer. As a broad range, SaaS businesses sell from 2.5x annual profit SDE on the lower end to 4.0x their annual profit SDE on the higher side.

The range is huge but for good reason, there are so many variables. Looking at those outlined above will give you an idea of value and also give you an idea where you might want to make some improvements or investments in your SaaS business.

Uncategorized Editor Tue, 07 Nov 2017 22:36:27 -0500