business

You have a business and you want short term working capital but you don’t know where and how to source it from? Business is full of uncertainties. Risks may occur in your business anytime that require finances.

Four Sources of Short Term Working Capital

1.) Your Own Savings

You can get short term working capital from your own savings without having to worry of paying any interest. But this amount may not be substantial enough to meet all the short term requirements of your business as it is usually small.

2.) Apart of the Long Term Borrowing

The long term loan you had borrowed can be used partly in financing short term requirements. Sometimes this amount may not be available as it’s already fully utilized.

3.) Bank Loans

Banks are the major lenders of money for short term periods. They lend loans for six months. This means that you have to pay them all their money plus a certain percentage of interest within the period of six months. You can obtain from them the secured or unsecured loans depending on the relationship you have with your bank. You may also take an overdraft or cash credit from your bank.

4.) Accounts Receivable

It is the smartest way of raising short term working capital especially if your business is always selling goods on credit basis. Here, the mercantile credit plays a great role in boosting your business transactions. You sell the goods on credit and your customers accounts are debited with the same amounts.

On the basis of your customer’s accounts receivables, you are able to get loans or advances from factors. When the money is received from the factors against these accounts, it’s termed as receivables financing.

Two types of Receivable Financing

A.) Ordinary Account Receivable Financing or Non Notification

This is a system of short term financing. You enter into an agreement with the financing institution which agrees either to purchase the non notification or advance you a certain amount of money against such non notification. Your customers are not intimated with this arrangement.

B.) Factoring

This is the arrangement whereby the factor buys accounts receivable (sundry debtors) of your business and assumes all the risk of non-payment. There is an agreement between you and the factor. The factor pays you money against your customer’s debts.

Five Differences Between Non Notification and Factoring

1.) Factoring assumes liability of bad debts while in non notification the seller is responsible for any bad debts.

2.) Factoring is responsible for the collection of bad debts while in non notification the seller is responsible for collecting them.

3.) Factoring forwards the invoices to your customers while in non notification the seller is the one sending the invoices to customers.

4.) In factoring the customer is informed while in non notification the customer is not intimated.

5.) Factoring is notification of accounts receivables financing while ordinary account receivable is non-notification of account receivable financing.…

Starting a limousine rental business these days is seen as a good investment choice. As the tourism and hospitality markets have been stable for decades, this investment venue is seen as a sector that will continue to experience steady revenue growth.

Although the competition is currently stiff, there always seems to be room for operators who are reliable and provide good-quality service that most customers look for. Limousines serve as an elegant and comfortable means of transport, and these are used for a wide array of events and occasions, such as corporate parties, proms, weddings, bachelor parties, city tours and out-of-town excursions.

The Limo Rental Industry Has A Lot Of Potential Clients

According to current data from Limousine and Chauffeur magazine, the breach of potential limo rental service customers are in the following areas: hotel and resort clients, night-on-the-town transportation, corporate shuttling, weddings, funeral transport, proms, and other Occasions. The business is usually broken down into two major aspects: Corporate / professional clients and occasional customers, and most rental firms specialize in either one or both.

Corporate customers span a wide range of businesses that use these services for ferrying their executives, clients and customers. Much of this service involves airport-to-hotel transportation, as well as shuttling clients to restaurants, theaters and other entertainment venues. Corporate clients can be at times, more demanding than the standard client. These people expect prompt and reliable service, particularly when the need suddenly arises.

Keeping Clients Satisfied Ensures A Successful Limo Rental Business

If you so wish to invest in this type of business, you need to do all you could make your customers happy, and satisfied. Be prepared to do a great deal of cold-call selling to capture these lucrative accounts, which include corporations, law firms, investment firms and banks.

As the occasional customer usually celebrates some sort of event; Whether it's a birthday, anniversary, wedding, bachelor party, office party or prom, you need to be prepared to serve the needs of diverse groups of people and events. Your advertising needs to focus on your ability and desire to make any kind of event feel special and memorable.

As with any type of business, you need to do a lot of research before you start operating. It is good to understand your competition, your target market, and the specific area you wish to operate. You also need to be creative in determining how you are going to make your service unique, and different, or better than the competition.

Once you're in operation, you need to ensure that you can facilitate inquiries, handle different sales accounts, deliver professional service and provide information to your prospective clients on a 24-7 basis. Your customers also need to get their questions effectively answered, and place orders at their convenience, without having to let them wait in line either on site or on the phone. You also can build and enhance customer relations by staying in touch with them via e-mail, or through opening an online website.

Http://miamilimo.biz – …

I filed Chapter 13 bankruptcy a few months ago. I have been documenting the experience to share with the people who will find themselves in need of this information in the next few years. It’s not a topic for casual conversation for most people, and the web is rife with e-books, courses, services and other junk.

I’m not an attorney, and I won’t offer any advice, and don’t intend this narrative to persuade you to take any particular action or opinion. This is just my experience, and of course my own particular perspective will shade it.

The story begins in 2005, when a business failure coincided with family illness and other non-financial problems. We struggled to cover our bills by selling personal possessions – furniture, TVs, a timeshare, tools, sporting goods and more. Finally, in early 2006, my husband found a job. By then we were more than 6 months behind on our credit card account payments, and struggling to get the mortgage and car payments paid no more than a month late. Relatives were giving us food, and I had become depressed to the point of thinking and talking about suicide.

Depression

The financial situation was complicated and worsened by my depression. I felt unworthy; incapable of making a decision, frustrated by my inability to find work while at the same time conflicted about actually having to give up self-employment and find a job again. And this, my friends, was the problem. Without some element of faith that I could feel better, I was hopeless and self-defeating. Until I found the means to believe in myself again, I was unable to move away from failure.

Happily, I did find a way out of my depression, and the answer was within myself. If you are feeling like I was, there is an answer, inside you, and your mission will be to find the way to connect with it. This article is not intended to help you find that answer. The path is different for everybody, and it may lie in religion, renewing physical activity, meditation, intellectual pursuits, or a combination of some of these, or something else entirely. You’ll know it when you find it, and if you listen, it’s probably already calling to you.

Exploring Credit Counseling/Credit Management Options

Two weeks prior to my husband’s return to work, I started believing that we’d find a solution to our situation. Up to this point I had been screening caller IDs, allowing the answering machine to take all calls from bill collectors. I began talking to some of the bill collectors to see if there was any way I could negotiate my way out of this situation, but it was really serious. I was beginning to get court notices that we were being sued by some of the credit card companies. Just when we had a paycheck to rely on, we faced the possibility of garnishments!

So, I wrote down the toll-free numbers of various credit help organizations I saw advertised, …

Why are ethics in business so important? Isn’t it enough to comply with the letter of the law and the rules of society? What’s in it for the business enterprise?

These are all interesting questions. Many business owners feel that maximizing profits is the chief obligation of the firm. Other owners feel that operating a business in a transparent, ethical manner is also important. Both business management and business ethics are about making the right decisions. Does one have to exist to the exclusion of the other?

I think not, and here are the reasons why managing a business ethically is important:

1. It sends the right message to customers and clients. With all the choices available nowadays, who wants to do business with a shady, ethically-challenged company?

2. It sets the right example for the firm’s employees. The temptation to cut corners or behave illegally, immorally, or unethically is reduced if employees are familiar with the firm’s code of ethical conduct and the certainty of its enforcement.

3. It can make the firm a desirable place to work. Recruiting, and then keeping, high-quality employees is far less costly than managing a turnstile where people come and go in bulk quantities.

4. It establishes a prism through which a company views not just normal business dealings, but the handling of extraordinary events or crises. When all options have been considered, asking “What is the right thing to do?” ultimately becomes the basis for action.

5. It provides a clearer focus for the firm. That clear focus is found not just in the tactical day-to-day operations, but in the firm’s strategic planning, as well.

6. It helps protect the interests of the firm. Ethical behavior doesn’t always insulate a firm from lawsuits, bad publicity, or other such negative and costly conditions, but it can certainly reduce the probabilities or mitigate the damage.

7. It helps protect the interests of everyone with whom the firm comes into contact. Will suppliers become more reliable if they know they will get paid on time? Will regulatory agencies be more helpful and accommodating? Will clients be more trusting? There is an obvious higher likelihood of the foregoing answers becoming “Yes” with a company who is seen as highly ethical, than with one who is not.

8. It promotes mutual respect and integrity. This can happen both within the company and from those whom the company deals with.

9. It promotes accountability. This can occur not just within the ranks of the employees, but with the top executives and owners, as well.

10. It can yield a reputation in the marketplace that can be beneficial and sustaining. Isn’t this a desirable condition for any company? If it isn’t, it certainly should be.…

What is a personal business letter? It is a letter that and written by an individual and mailed to a company, business, or government agency. It is more formal than a personal letter or note.

There are eight parts to a personal business letter as follows:

  1. Return Address: this is your address, do not include your name, and list your street address, apartment number if applicable line 2, your city, state and zip code all on one line. Spell out the full name of the city and state (the official Post Office Abbreviation is acceptable also) and add the zip code. Note: if you are typing the letter on letterhead that already includes the address this part is not needed.
  2. Date: Enter today’s day on the next line. Spell out the full month, comma, date, comma and the year in 4 figures such as “2011”
  3. Letter Address: This area has whom the letter is sent to and their complete address. Write out the person’s full name on the first line:The street address goes on the next line or two as required.Write out the full name of the city, the Postal Abbreviation for the State followed by the zip code.
  4. Salutation: This is a formal greeting. Usually “Dear” followed by formal titles, i.e.: Mr., Mrs., Miss, Dr., or Reverend. If you are writing to a woman and do not know her martial status or which title she prefers “Ms.” Is acceptable. Follow the title by either the full name or just the last name.
  5. Body: This is the most important part of your letter. Use paragraphs properly. Be short and to the point so the recipient quickly knows the purpose of your letter. Give enough detail, but don’t use more words than needed.
  6. Complementary Close: Use phrases such as “Sincerely yours,” or “Yours truly”. Capitalize the first letter of the first word, lower case for the second word followed by a comma.
  7. Sender’s Name: This is where your name goes, skip four spaces between the complementary closing and your typed name. Use your first and last name.After printing the letter, sign your name between the complementary close and your typed name.
  8. Enclosures: If you are including any documents with the letter, such as a resume, product sample, or other explanatory documents, show that there is an enclosure by typing “Enclosure(s)” one line below the closing. You may list each enclosure by name, this is a good way to make sure that the recipient knows exactly what is in the envelope.

These are the parts and order of a personal business letter. It is assumed that you are personally typing this letter yourself, so there is no need for the typist’s initials.…

There are many uses of audited financial statements. Some of the common uses include submitting to the relevant authority such as company commission and tax offices. These are the two interested parties of these statements. Other interested parties include investors, creditors of the company and shareholders as well.

So, what are the purposes of audited accounts and why is it has to be audited before presenting or submitting to the relevant interested parties? Let us discuss some of the reasons as follows.

One of the main purposes of audited accounts is to provide the accountability, accuracy as well as financial credibility of a business. This is because all entities whether they are public owned or privately owned has to prepare a complete of accounts on their financial performance and position.

A unqualified audited report indicates that the financial statements prepared for a business are free from material misstatements, found to be correct and presented fairly according to general accepted accounting principles.

Another important reason of having your accounts audited is that it gives interested parties such as bankers and shareholders an unbiased opinion with regard to the credibility and accuracy of the accounts prepared by a company.

Interested parties especially bankers use audited financial statements to assess the financial performance and position of a business for loan approval purposes. Therefore, it is always mandatory for a business to submit its audited financial statements to the banks if they need assistance from the banks.

In a nutshell, audited financial statements are used by many parties. Thus, it is important for a business to keep its accounting records properly and on a timely manner.…

You have spent years in building your technology – and the next step will make or break you.

What is this next step and what should you do right now?

What I am about to describe is what separates a successful entrepreneur from an also-ran. More than anything else, it is about the decisions the winner makes around how to spend their time.

Unsuccessful entrepreneurs do things that feel safe doing, such as creating product. Successful entrepreneurs understand that the product is a fraction of the business.

So what things should you be doing? And even more importantly, what are the most important things you need to understand about how other people (customers, prospects, investors, top new team-members) will make decisions about you. Winning entrepreneurs are great at addressing: they invest their time in learning how to better understand buyer-need and address it; They understand investor-need and address it; And understand how a top employee selects a company to work for and address it.

There are 5 things to think about now that your product is looking good

1. Why should anyone care about what your company does or produces? (Do not assume you know your market – ask them).

2. Where is your market and how will you reach them?

3. What's new, interesting, or different about what your company provides?

4. How will the company make money?

5. Who are you and why will you win?

There are plenty of articles that will tell you the same thing. What they will not tell you is this next secret about decision-making. In answering these questions you need to address not just the spoken question, but the unspoken question.

1. Did I get an immediate sense of what your product is and why it's important without having to do any work?

2. After hearing you, do I feel enthusiastic about you and your offering?

3. Do I feel like I have heard strong evidence of there being a "wave to surf"?

4. What is the compelling story about how these real real pain today?

5. Do you have bold claims about market-size and your ability to pull-it-off, and after hearing this am I intensely curious to find out more?

What are 5 things you can do differently that will address each of these 5 "real reasons" that will have someone buy your product, join your outfit, invest in your company?

1. Select a foundational phrase. A foundational phrase is a ten-word memorable, repeatable, remarkable phrase (such as "we network the networks" – Cisco; "the third place" – Starbucks, "1000 songs in your pocket" (Apple's iPod), that capture the essence Of your product / company. Stop working on perfecting the product and spend the hours on getting this right.

2. Learn to speak in a more interesting way by doing two things differently. First – select a metaphor that describes your product and its benefit, eg: "selling without using metaphors is like running a marathon barefoot – it is possible, but …

Jim Rohn has a long trail of success and business philosophy that has helped motivate and inspires tens of thousands of people. Not too long ago someone said to me, Jim Rohn and those type of guys are scams, they just want your money and they are not the real deal. This Jim Rohn review will review a little about himself as well as some of his principles on success.

Jim Rohn is a renowned business philosopher, who has been sharing his success principles for more than 40 years, with more than 6,000 audiences and more than 4 million people worldwide. He is the author of 17 different works including The Five Major Pieces to the Life Puzzle and th Challenge to Succeed audio series.

By his own account, he was born to an Idaho farming family in the mid 1900s. Mr. Rohn began his early adulthood without acclaim, leaving college after his first year, starting a family, and trying to get by as best he could as a salaried worker. By age 25, according to his accounts, he was in a personal rut familiar to many middle class families – in debt, unable to see a way that would lead to his personal ambitions. Around this time, he was introduced to John Earl Shoaff, an entrepreneur who impressed Mr. Rohn with his wealth, business accomplishments, charisma, and life philosophy. Mr. Rohn joined Mr. Shoaff’s direct sales organization and began a process of personal development that allegedly culminated in his becoming a millionaire by age 31.

Jim Rohn has been said to have been very instrumental in launching the careers of other well known sales and motivational speakers such as Tony Robbins, Les Brown and Brian Tracy.

Some Jim Rohn’s success philosophies include:

  1. Set Your Sail – or in other words the way we think. The greatest challenge of life is to control the process of our own thinking.
  2. Learn from Success and Failure – Study those that do well do what they do and learn from the failures of other people.
  3. Read all you can – Take head to those that have taken the time to write the principles of success that have guided them.
  4. Keep a Journal – Jim Rohn states, “This is one of the best guides for making good decisions”
  5. Observe and Listen – Pay attention and watch what is going on around you.
  6. Be Disciplined – With careful mental preparation we can make wise choices.
  7. Don’t Neglect – Neglect is the major reason why people don’t have what they want.

In conclusion, Jim Rohn is not a scam, rather a man of wisdom and experience in helping others and himself achieve the success they desire. He is full of great information and guidance as you journey towards a life full of abundance and personal satisfaction. I would highly recommend reading material published by Jim Rohn as well as those whom he has inspired such as Tony Robbins, Les Brown and Brian Tracy.…

There is a growing global demand for the preservation of memory in the most unique and wonderful way. And scrapbook is the answer to that demand. Arguably the fastest-growing home business in the US, the scrapbook industry today is generating revenue of US $ 2.55 billion per year – the number may double if we take into account the global scrapbook industry.

The demand for scrapbook will likely to keep growing. Hundreds of million of people get married, travel, and give birth every year – and this provides the opportunity for scrapbook industry to keep expanding. With around 2.3 million weddings in the US alone, there's already a huge market in the states for scrapbook businesses. But there's no need to confine yourself to the US; Japan and South Korea are ripe for picking – and they do not have too many experienced scrapbook artists to help them. Scrapbooking business is ripe for picking.

So now that we know the huge potential to generate profit from your hobby, what are the steps you need to take to start your own scrapbook business? Let's take one step at a time.

Step 1: Make up Your Mind

It all starts here. Decide that you're ready: "I'm ready to run my own scrapbooking business." Find a spot in your house. Pick a day on your calendar.

Step 2: Decide on an Area

There's a spectrum of business opportunity in the scrapbook industry: scrapbook retail, scrapbook consulting, scrapbook product design, and, of course, you can choose to become a professional scrapbook artist. That last option is perhaps the most appealing for many scrapbook enthusiasts. It has minimal start-up costs (you really can start with almost nothing!), Work from home, choose your hours, and make money. Lots of money, for many professional scrapbook artists. See, a lot of people like the look of scrapbooks, but do not have the time, knowledge, or creativity to do it themselves. And, as with other service businesses such as professional organizing and interior design, it's easier for some people to hire out than to do it themselves.

Step 3: Get Information

This is the critical part. The largest reason a small business fail to take off is because of lack of planning, due to lack of information. Your first order of business is to get as much information on your business plan as possible. How much should you charge? Where to get resources at a bargain price? How to get and retain clients? These are just some questions a scrapbooking business owner should ask herself. There are some free resources in the internet, but you should not be too thrifty spending some capital to get more quality information. Buy books, e-books, and newsletter or magazine subscriptions. How much you should spend? I always say $ 100 to $ 200 is still very much acceptable to spend on these valuable information. You need to equip yourself – your business' greatest asset – the best way possible. Get those valuable information. …

Firms desiring to enter international business face several obstacles; some are much more severe than others. The most common barriers to effective business are cultural, social, and political barriers, and tariffs and trade restrictions.

The first one to effective business is the cultural and social barriers. A nation’s culture and social forces can restrict international business activities. Culture consists of a country’s general concepts and values and tangible items such as food, clothing, and building. Social forces include family, education, religion and customs. Selling products from one country to another is sometimes difficult when the cultures of the two countries differ significantly. For example, when McDonald’s opened its first restaurant in Rome, it was met with protest. The people of Rome objected to the smell of hamburgers frying. McDonald’s overcame this objection by changing the exhaust system of the restaurant.

The second barrier is the social forces that can create obstacles to international trade. In some countries, purchasing items as basic as food and clothing can be influenced by religion. In many nations, individuals do not have the same choices in food, clothing, and health care.

The third one is political barriers. The political climate of a country can have a major impact on international business. Nations experiencing intense political unrest may change their attitude toward foreign firms at any time; this instability creates an unfavorable atmosphere for international trade.

The last one is the tariffs and trade restrictions. Tariffs and trade restrictions are also barriers to international business. A nation can restrict trade through import tariffs, quotas and embargoes, and exchanges controls.…