A Few Things to Remember When Designing an Exhibition Banner

Jun 15, 2016 by

A Few Things to Remember When Designing an Exhibition Banner

You can use an exhibition banner when you are invited to a trade fair or an exhibition. You can post information about your business and have it printed on the banner. During the exhibition, you can also place employees to explain the details written on the banner. More often though, the banners have to communicate clearly on their own about what your company stands for.

Therefore, it is extremely important to use the best roll up banners possible. There are a few things that you need to remember so that you can get it right.

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5 Ways the Right Truck Finance Can Make or Break Your Freight Company’s Success

Jun 14, 2016 by

5 Ways the Right Truck Finance Can Make or Break Your Freight Company’s Success

Do you own a freight company? Whether you’re spearheading an enterprise large or small, your success ultimately depends on delivering the services you promise to your clients. As a freight company, your responsibility lies in getting goods and products from point A to point B in a safe, timely manner. Building a reputation for excellence in your industry depends on a few factors: devoted truck drivers, well-crafted systems, and top of the line equipment.

To be sure, a significant investment is needed to get a freight business of the ground, and continual upgrades and improvements will keep it going strong. In short, you need capital. Chances are you’re not a millionaire, so quality truck financing will factor into your business plan. You might be surprised, however, to learn that the right truck finance can have a greater impact on your future prospects than you ever reckoned. Here are 5 ways the right truck finance can make or break your success.

MAKE: A range of truck financing options to suit all purposes, budgets, and needs

Options are key for any business seeking finance solutions. When you work with an individual bank or other lender, your options are limited to what that institution offers. Want your freight company to succeed? Choose a finance provider with variety at their fingertips. This ensures you get the best deal for your particular financial situation, and gives you flexibility with things like repayment terms, interest rates, and more.

BREAK: Impersonal service that doesn’t match up with your business goals

A big problem for your freight company is when you work with lenders that don’t prioritise your business. Such impersonal service comes at a price; you miss out on the valuable benefits a true partnership affords, and you can end up feeling lost and alone in the world of financing. Without the confidence of a solid Australian financing company behind you, your actions and decisions are far more likely to be impulsive and result in errors or loss.

MAKE: Partnerships that care about your ultimate success

When you work with loans officers who care about you and the success of your freight company, the outcome is incredible: better financial products that align with your goals and secure financing that lets you purchase the trucks and equipment you need, when you need them.

To truly make your freight company, a real partnership between finance institution and your business must be built. For instance there are lenders and freight factoring companies that caters specifically to the trucking industry and would know your business the best.

Choose a team that prioritises and values that relationship, and knows you by name. This will make all the difference in the world.

BREAK: Banks and financial institutions that put themselves first

Without such a partnership, you’re virtually on your own. Many small business owners choose to source their loans and financing from banks or other lenders. While these can seem like straightforward options, the truth of the matter is, these institutions will always put their own needs before yours. Banks will push their own lending options on you, without concern for whether or not the financing truly meets your needs. In a situation where you need additional flexibility or support, a bank isn’t going to be there for you. The right truck finance provider will be.

MAKE: Fast approvals that get you on the road faster

Think you have to jump through hoops just to secure a loan? It shouldn’t be this way and it doesn’t have to be. The right truck finance can be obtained more easily, with options for low-doc financing (so you don’t have to produce countless documents) and faster pre-approvals for a range of credit situations.

As you move forward in starting or maintaining your freight company, keep these considerations in mind as you search for truck finance. Top financial service providers do exist, you will bring you the right truck finance that fits just right. And that will surely ‘make’ your success!

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You Can Now Enroll in Payroll Training Courses

Jun 7, 2016 by

You Can Now Enroll in Payroll Training Courses

Instead of hiring someone to do your payroll for the company, you can now do it yourself. It is complicated, but you can learn it over time. You simply need to have the basic knowledge of how payroll works. The good news is that you can learn how to deal with payroll by enrolling in online courses. In just a few hours or 5 to 10 sessions, you can now learn the basics and do the payroll for your company.

This means that you only invest a few pounds to learn a new skill, and you save a lot of money for your company. Imagine the amount that you need to pay for payroll services. Therefore, if you have enough time, go ahead and learn the details of preparing the payroll.

Another advantage is that you can pace your own work. You don’t have to wait for someone to finish it on the specified deadline, or even later. You might even worry about inaccuracies. Though you can pass on the blame to the person who did the payroll, it will ultimately be your company that will be fined.

Therefore, it is in your best interest to enroll now. You can check out some of the best possible courses online. There are a lot of legitimate sites that offer these courses. They also conduct webinars, provide educational videos, and give out activities for you to complete. Over time, you will learn the most important aspects of preparing the payroll.

The downside

Though it is great that you learn about payroll, it has a downside too. As the owner of the company, you need to understand that you already have a lot on your plate. You can no longer afford to accept more tasks. Though you are a multitasker and you think you can balance everything, the truth is you cannot. You might even have to sacrifice something along the way. One of the biggest problems is that you might not complete the documents with accuracy. Another problem is that you might lack time for your family or for other important matters because you are drowned by business related tasks.

In order to solve this problem, you should go for payroll outsourcing. If you wish to save money, then this is the best choice. You hire someone only when necessary. You don’t have to employ this person on a full time basis. You simply have to hire him once a month to do the payroll. Once the task is over, you pay the agreed amount and you’re done. You should only hire those employed with certain companies to ensure accurate results.

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Featured Image Courtesy to Stuart Miles

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Ways to Repair Your Personal Credit File Before Going Into Business for Yourself

Jun 7, 2016 by

Most aspiring business owners can’t wait for the day that they are able to pull out their business credit cards and be able to say that they’ve got lunch covered. Being in business for yourself shows that you are responsible, capable, and self sufficient, but you can have trouble starting up if your personal credit rating is down the tubes. Despite the fact that personal and business credit ratings are kept separate, your personal credit history is going to be looked at closely in the beginning.

Since your business will be new and you won’t have several years of tax returns to prove your earning ability, creditors will defer to your personal credit file. One question you should have answered before you embark on creating a business credit portfolio is how to get a late payment removed from your credit report. Making an effort to remove all problems from your personal credit history will allow you to see a steep improvement in your overall credit score.

Review All Hard Copies of Your Personal Credit History

There are only a few different proven ways to increase your personal credit score fast, and you have to be completely decided about the process in order to see a big difference in your credit. First, you need to know both what your credit scores are as well as what is being reported in your credit history.

Knowing your personal credit score can help you to gauge how healthy your credit is overall, but it won’t reveal how many late payments have been reported, collections, defaults, or even what type of credit you have. You can contact all of the major credit reporting agencies, including those that aren’t normally checked by consumers for this information. There are credit reporting agencies that focus on utilities and even judgements, so be certain that you get physical paper copies of all of your credit reports prior to starting any repairs.

Talk to a Personal Credit Repair Specialist

You may know how to get a late payment removed from your credit report by calling your cell phone carrier and making the request as a courtesy. This approach might lead to limited success when it comes to contacting creditors that you still have open lines of credit in good standing with, but not all other changes will be quite so easy.

Credit repair specialists don’t just know what can be done to help improve your personal credit history through practice, they also have good working relationships with most major creditors. Imagine working with someone who has a direct phone number to decision makers at major credit card companies, mortgage lenders and auto financers. While repairing your credit on your own will require lots of certified letters and time spent on hold, a credit repair agency can get more of that same time consuming work done in a near instant.

Diversify the Types of Credit That AppearOn Your Reports

Many people end up harming their credit histories by taking out too many credit cards and then charging them to the maximum upper limit. You could also have a poor credit history because there isn’t a big enough variety. For instance, having only student loans and credit cards can indicate to a business creditor that you are struggling to satisfy your monthly bills. Applying for a small auto loan and then paying it off will not only increase your personal credit score, it can also help to make you look more financially capable.

If you notice that certain creditors that you have a good payment history with aren’t appearing when you inquire about your credit, you should ask them to start reporting. Having just one new creditor appear on your credit reports can help you greatly in establishing a business credit file.

Improve Your Debt to Income Ratio

If you are going to go into business for yourself, you should be able to handle all of the bills that you have now, while being able to put away some of your income in a retirement account. All business creditors look at debt to income ratios, so if your intention is to get a business loan you should have a low debt to income ratio. What this means is that your recorded income should be significantly higher than any debts you owe or any revolving lines of credit you have opened in your name.

In short, owning a home and having a few different credit cards can be helpful when improving personal credit, but there is a balance that you have to maintain. Pay down any credit card balances that you currently owe and keep on driving your existing vehicle if it is dependable rather than financing a new car loan. These moves will help boost your personal credit score up and improve your debt to income ratio to within a reasonable range.

Use Credit Reporting Disputes to Your Advantage

When any portion of a personal credit file is disputed, the entity responsible for reporting this information has to respond. In the interim, the said entry will be marked as disputed and you can start to look at other areas of your credit history that need to be investigated further. Sometimes disputed personal credit file entries result in a higher score, and other times they come back as verified. Use credit file disputes responsibly, but never be afraid to ask for more information, especially if you feel that the information being reported is not accurate. Realize that after you dispute something on your credit report, there is a 30 day window in which the reporting entity has to provide proof of what is being reported.

Business owners that start off with solid personal credit histories are able to grow their companies with confidence. Potential creditors will be more likely to push your applications through, and you won’t likely need to supply as much background information about your business when you have a good personal credit score to fall back on. Ensure that you don’t have any inaccurate problems listed on your personal credit report, remove all erroneous late payments and start paying off your debt to help secure your business future.

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Navigating Asset Finance for Small Business Growth

Jun 3, 2016 by

Navigating Asset Finance for Small Business Growth

Small business can make smart use of asset finance and its various benefits to fuel growth and expansion. But how does asset finance work, and is it right for your business? Here’s what you need to know.

Typically, business growth requires serious investment of capital in relation to new equipment, machinery, plant, vehicles, technology or other business assets. But if you’re a new start up enterprise, how can you afford to spend on such assets in order to grow and expand your business?

Asset finance, as provided by Ultimate Finance is the solution. Hire purchase and leasing options provide access to assets which you might not be able to afford to purchase outright.

How does Hire purchase function?

The basics: at the end of the agreed term you own the asset. A deposit of between 10% and 20% is normal. You pay a set monthly sum. You get access to the asset without needing to come up with the full amount upfront. However, you also need to factor in the interest you will pay over the term, which can typically be 25% of the overall value of the asset.

Benefits of hire purchase

  • No need for a bank loan.
  • No collateral or security required.
  • You own the asset at the end of the term. You can sell it and recover some of the investment made in it.
  • Hire purchase payments are tax deductible.

How does leasing function?

The basics: you use the asset, but never own it. Normally there is no need for a deposit. You pay a set monthly sum to use the asset. At the end of the period you can upgrade or replace the asset or simply terminate the agreement. Lease periods are flexible, typically between a month and 24 months. You avoid the need for large capital expenditure upfront, although you never actually own the asset.

Benefits of leasing

  • At the end of the term you can simply terminate it, renew it, or possibly purchase the asset (optional).
  • It is easier to update an asset for the latest version (if this is important) for your business.
  • Leasing often includes all related services such as maintenance, repairs, insurance and replacement in case of breakdown. You are only responsible for the monthly payment.

Being able to access the necessary machinery or equipment which will allow your business to expand and move forward is essential for growth; and asset finance allows you to do this without the need for immediate large capital investment. By spreading the cost of asset acquisition over a longer period, either through hire purchase or leasing options, your business can move ahead confidently.

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The Top Questions to Ask Yourself before Becoming a Business Owner or Entrepreneur

Jun 1, 2016 by

The idea of having your own business has always been an attractive one for many people – you have your own time, you can manage your schedule the way you want, you can have other people working for you, and, if your business is successful, all you have to do is sit back and rake it all in. But having a business is more than this. It takes plenty of time, effort, and resources before you can make it work. But if you are thinking of becoming ‘your own boss’, how do you determine if it is really what you want to do and if it is really the right fit for you? Below are some top questions you should ask yourself before venturing into the world of business as an entrepreneur.

Am I really suited to having my own business?

You have to be honest with yourself when you ask this question. First, you have to have an idea of what benefits you can accrue by being your own boss. Afterwards, think about the disadvantages of being an entrepreneur. Do these benefits and disadvantages suit your own goals in life, your personality, and your skills? Additionally, you have to assess your leadership skills. Do you see yourself as a leader, or are you more of a follower? Are you good at motivating other people? Additionally, are you comfortable with reprimanding other people or disciplining them? How about making decisions? Are you comfortable taking risks and making major decisions, or would you rather leave this burden to someone else?

Do I prefer stability, or do I like taking risks?

The Top Questions to Ask Yourself before Becoming a Business Owner or EntrepreneurImage Courtesy to : Stuart Miles/FreeDigitalPhotos.net

Many successful entrepreneurs like being in full control, and they also like the challenges related to running their own company. If you see yourself this way, then it’s the first step to becoming your own boss. However, if you prefer the stability and security brought by a job, paid holidays, and government benefits, then you may be better off staying an employee.

What strengths and weaknesses do I have?

You also have to be fully aware of your own strengths and weaknesses. Once you have a complete understanding of this, it will be easier to choose the type of business that will showcase your strengths and not your weaknesses. Also, if you have a particular skill in a certain sector or industry, then you may want to take advantage of it. If you don’t, it would be a good idea to find a partner who has a background in the industry you are interested in.

Additionally, you should work on your weaknesses. If you have a weakness in finance or accounting, then you could find someone to help you with it from the start, such as one of the many firms of accountants central London offers.

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Examining the Impact of Obamacare on the Healthcare Business

May 28, 2016 by

The U.S. is one of the only developed nations without universal healthcare. While the Affordable Care Act (Obamacare) is not universal healthcare since it does not cover all Americans, it is aimed at closing the gap between the two. Though the act was passed in 2010, its main coverage provisions came into being on January 2014. As of 2013, some 41 million Americans were uninsured.

By the end of 2015, Obamacare had extended its reach to 13 million citizens reducing the uninsured number down to 28.5 million Americans. The first quarter of 2016 saw an extra 1.2 million Americans receive health insurance. This meant that only 8.6% were uninsured, marking the first time in the nation’s history that the uninsured rate has dropped below 9%. As such, the Obamacare act is the most significant overhaul of the US healthcare industry since the enactment of Medicare and Medicaid in 1965.

Its mission to lower the number who lack coverage by reducing healthcare costs while increasing the quality of treatment has changed the healthcare business significantly. Obamacare, using a mixture of mandates, insurance exchanges and subsidies, was always destined to reshape the American healthcare industry. Here we review some of these impacts.

1. Shifting of Incentives to Patient Outcomes, and Away from Patient Volumes

Embedded in Obamacare are incentives designed to retool healthcare providers towards a quality care mindset rather than care by the numbers. Hospitals and other health facilities will now receive reimbursements based on the quality of the treatment they offer as opposed to basing it on the number of people you treat. It now makes sense for facilities to keep people healthy than to fill up hospital beds.

The pay for performance model (P4P) employs quality metrics such as; how well the patients grade their treatment, the adherence of the hospital to prescribed processes and the outcome of the patient’s treatment.The program has led to more providers adopting innovations such as the bundling of payments – whereby patients pay a one time fee for an entire treatment procedure no matter how many times they are treated. This leads to more emphasis on preventative care.

However, despite the seemingly logical nature of the program, there is scant evidence of it having a positive impact on health outcomes. One particular renowned study showed that over the short term, hospitals using the P4P model had high performance scores as compared to those that used the old pay for service model. However, after five years, the scores of the two groups had virtually the same performance ratings.Fears have also been raised that the P4P program may disadvantage high risk patients who hospitals will want to avoid as they may bring their performance scores down. Despite these challenges, the P4P model remains popular among policy makers. The Committee for Economic Development is of the view that though the system is not without fault, it is only in need of innovation and optimization.

2. Rising Data Management Costs

Physicians are struggling with mounting data handling costs associated with the reporting of quality measures. A study estimates an annual expenditure of 15.4 billion, or around $40,000 yearly per physician, just for reporting of quality indices. Healthcare providers lament that if the quality measures continue to increase, a lot of money will have to be spent on reporting of external quality controls such that there will be little left to allocate to monitoring those internal quality measures specific to each provider.

3. Personnel Shortages

The newly insured and the aging baby boomer population is straining the already burdened healthcare workforce. The Bureau of Labor Statistics (BLS) projects that by 2022, 526,800 extra nurses will be needed to replace those retiring and to keep up with the increase in patients. This represents a 19.4% increase from 2012. As for physicians, it is estimated that we will need 90,000 more by 2025 in order to provide adequate care.

As it stands, doctors, nurses and other healthcare professionals are overburdened causing stress, burnout and even retirement. While this is certainly bad for patients, it is beneficial to job seekers and those entering college. Degrees such as a masters in healthcare management and online masters in healthcare administration are in demand across the healthcare sector as more MHA careers are made available.

4. Increase in Revenue

Obamacare has led to an increase in profits by insurers because of newly covered clients, many of whom benefit from government subsidized premiums. The five largest providers have outperformed the S&P 500 index for the last 5 years. According to the New York Times, Obamacare, through subsidized premiums, effectively made insurers into direct beneficiaries of its mission.

Final Thoughts

Overall, there isn’t much of a consensus on how much of a success it’s been. But many still agree that the previous system was broken and needed a change. Whether Obamacare is that change remains to be seen. However, as the system is continually being tuned and refined, it is expected that the healthcare business will see a net positive benefit.

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