Avoid Cash Flow Problems to Grow Your Transport Business

Running a freight company, delivery service or even just a business which relies heavily on transportation will bring a particular set of challenges to overcome. Cash flow problems are often one of the most common of these and can really hold back a business when it’s looking to expand.

From the start of setting up your company there are many things you can do to try and avoid or keep the effects of cash flow problems to a minimum. They can lead to staff not being paid on time, expenses overshadowing revenue and ultimately losing clients. For these reasons it may be best to put the following steps into practice.

Be Vigilant

From the off it is essential you keep on top of every payment. It can be easy at the start to let clients make late payments as you will be more desperate to please them in order to not lose their business.

However, if they get into a lax habit from the off it can be hard to instil a more reliable payment plan later on. Send out invoices promptly and chase any unpaid ones up as soon as possible. Having a strong relationship with clients is more likely to guarantee timely payment and their loyal business.

Invoice Financing

Invoice financing found through Touch Financial can really help your business grow by setting up a better cash flow situation. Rather than waiting a few weeks or months for all your clients to pay their invoices this allows much quicker access to the cash you have rightfully earned.

There are many benefits to receiving your payments early as your business can quickly reinvest in staff, further supplies or other necessities for taking on the next big job. Waiting around for the finances can hinder your progress and prevent you from taking on work from large clients, but through invoice financing you’ll have enough to pay for all work.

Detailed Planning

One of the main ways you can end up with a cash flow problem is if your business grows quicker than expected, leading to more expenses on staff, fuel and repairs which overtake revenue. The revenue should catch up eventually when invoices are paid.

Having a detailed financial plan with space allocated for overspending can lead to a more balanced cash flow. This fall back amount will allow you to grow the company and meet the demand, not having to turn clients down and reaping the rewards of your success.

3 Tips for Successful Risk Management

Although the question of money management is seemingly straightforward, it has always been the most critical part of a trading plan. Before placing a trade, it’s important that traders consider exactly which risks are associated with that trade. In order to do this, some tough questions should be asked about risk totals, stop placements, and risk reward levels. In order to better tackle some of these common concerns, we have put together some tips for better, more successful risk management.

Plan Your Exit

More often than not, a good trader will have a clear idea of where, when and how to exit the market if a trade is moving in their favor. However, although it is always good to have a profit target in mind, it’s also crucial that traders prepare for leaving the market should a trade be moving against them. There are a variety of manners in which stop losses can be set, however they are more often than not coupled with an existing level of resistance and support.

Remember that a stop order is a point on the graph where your idea for trade is no longer considered valid. It may be time to consider exiting the trade if you currently have buy orders in place and price is making a lower low meaning that a key level of support is broken. In a downtrend, the opposite is true – a trader selling whilst prices are making a higher high may wish to look for another trading idea.

The 1% Rule

Once an exit strategy has been planned, traders must determine how much exactly they are prepared to risk per trade. It’s inevitable that a trade will close at a loss at one point, therefore it’s important to be sure on how much you are prepared to lose before this occurs. A great way of determining this is the 1% rule. Simply put, it means that traders should risk no more than 1% of their total balance on a trade idea.

The 1% rule is also able to be paired with a favorable risk reward ratio. For example in a 1:2 setting, risking 1% in the amount of a loss means that trades should be closed at a 2% profit at minimum.

Professional Risk Master Tools

A highly effective and recommended way to manage your trading risk is to use a professional risk master tool such as that provided by Broadridge IMS. Risk Master is a fully featured and flexible solution for risk management, which allows firms to mitigate risk intelligently across a portfolio or at the level of trade. It allows its clients to take control of their risk exposure to both counterparty and market risk, and facilitates better enterprise-wide decision making by allowing for quick action in response to any identified breaches of risk tolerance.

Do you have any tips for better risk management that you’d like to add to this list? Are you a successful trader who’d like to share your story? We’d love to hear from you in the comments.

How to Thrive As An International Businessman

The fundamental principles of business and business ownership remain largely unchanged throughout the world; meaning that someone who has been a successful entrepreneur in the UK should easily be able to replicate these achievements elsewhere. Practice is very different to theory, however, as there remain a number of practical requirements and obstacles that make thriving as an international businessman extremely challenging.

How to succeed as an International Businessman

With this in mind, what practical steps do you need to take in order to succeed as an international entrepreneur? Consider the following options: – 

Understand the different risks associated with International Business 

One of the first things to remember is that every country is different, both in terms of its financial law and political landscape. The latter can be particularly problematic for entrepreneurs, as threats such as political unrest and terrorism pose can undermine even the most organised of business ventures. While being aware of this is one thing, however, it is also important to take practical steps to resolve this by protecting your physical assets with reputable service providers like Catlin. These firms specialise in unique and tailored insurance policies, so they are pivotal resources for the international business-owner.

Become an Expert in Currency

Another key challenge facing business owners is international currency, which fluctuates on a daily basis and often forces entrepreneurs to make quick, real-time calculations. Understanding the mechanisms of international currency is crucial to minimising costs as an international businessman, and it is common practice for entrepreneurs of larger firms to stockpile currency while the rates are at their most favourable. Just make sure that you monitor real-time rates and create a clearly defined model for exchanging funds.

Operate with a Global Pool of Talent

The cost of acquiring and recruiting talent for an international firm can be extortionate, especially in a competitive marketplace. The main issue is the infrastructure required to source and employ staff, so successful international businessmen in the modern age tend to use remote working techniques and contracted employees to optimise a global talent pool. This helps to reduce infrastructure and annual salary costs, while also ensuring that you have a motivated team of staff that is employed on a project-to-project basis. This will also drive greater productivity and higher profit margins at the end of the year.

Can the Extremely Rich be Genuine Philanthropists?

Like so many principles of our modern world, the notion of philanthropy first appeared in ancient Greece when Prometheus was described as “humanity loving” in a play by Aeschylus. Prometheus’s philanthropic deeds included providing fire and blind hope to uncivilized humans. From this first mention right through to today, philanthropy has continued to expand in intent and contributions.

Why People Become Philanthropists

There isn’t any specific reason why people may the decision to become benefactors. It’s mostly likely they reach a stage in their life where they feel by giving back they can make their community a better place. Not all philanthropists give back in the form of money; some give time as a volunteer or use their reputation to set up a foundation. Mother Theresa is an example of someone who didn’t contribute huge sums of money, but has made a positive impact. The desire to help a particular cause may be the catalyst that initiated some to get involved. Whatever the reason, philanthropists have a shared belief that those with more should help those less fortunate.

Early Promoters of Philanthropy

In the 1700’s, Captain Thomas Coram established the Foundling Hospital in London, considered the first charitable organization in the world. Later that same century, Jonas Hanway, started The Marine Society. In 1901 philanthropy reached new heights when Henry Dunant and Gustave Moynier, founders of the International Committee of the Red Cross shared the first Nobel Peace Prize. Twentieth century focus crossed the Atlantic to include such humanitarian contributors as John Rockefeller, Henry Ford, and Andrew Carnegie.

Unprecedented Philanthropic Sponsors

Billionaire Warren Buffet began an extraordinary movement by pledging to use half of his fortune to support humanitarian causes. Several more like minded foundations have been set up or are set to benefit from huge contributions by other billionaires, such as Bill Gates, Bob Parsons, and Ted Turner. Pop star, Michael Jackson, set a record in the Guinness Book Of World Records for “Most Charities Supported By a Pop Star”.

Carnegie surpassed the pledges of today’s benefactors by using 90% of his wealth to fund philanthropic causes. For example, Carnegie Hall in New York City and Carnegie Mellon University were direct recipients of Carnegie’s generosity. Although not all philanthropists have vowed to distribute more than half their wealth, the expansive dollars they have used display their commitment to better the world for all are at least equal to the original gifts of Prometheus: improve human conditions and offer mankind hope.

5 Festival Insurance Tips

When organizing an event it is important to think ahead of the possible outcomes. Of course you would want everything to go as smoothly as it could, but there can always be some surprises. In those cases it is good to be covered.

You should be insured for any type of a festival that you are planning, whether it is a wedding, a gathering, a conference meeting, a concert, or something else. Many companies offer the best event insurance arrangements. Here we will consider five tips on insuring that the event goes through the best way possible.

Think ahead

You must assume all the possible negatives that could develop, and protect the event from suffering from them. If it is an open vendor festival, weather is the most important feature to consider. You should thoroughly check how the weather will be when the festival is about to play.

The food or the entertainment might be held up for some reason. The guests will be extremely disappointed and they will leave. Will you provide them refunds for the tickets they’ve bought? In case of a wedding, will you hope they stay for you, or will you provide another option for their benefit?

Insure early, consider the possible outcome, and evaluate the guest number. Only by doing these you can be sure that the event will go on as planned.

Ensure the gathering site

You must be aware of everything that you have at your disposal. Check the vendor for the festival, and make the necessary arrangements andwhetherthere should be any changes. You should have a prepared guest list that can help you with the arrangement of the tables, food, drinks, and/or stages.

Be clear on the insurance cover

The top priority in arranging any insurance is to make sure that you know what you are signing. Understand the policy instructions and the insurance fee, once you have decided how the festival will be insured.

Provide cover for incoming guests

Think about the guests that are coming from other cities or countries. Here you can consider their transportation issues. In case you provide cover for their charge, you should do so early. Or in cases where the guests choose to pay the trip on their own, you should insure them with the place where they will spend the night. Remember, that you are doing everything for the guests to be fully satisfied.

Insurance against cancelation

Cancellation is always the biggest fear of any event planner. However, they usually tend to hope that it will not have to come to cancellation, but they should pay more for a better line-up, better stage management or the lights. Still, what is all of this worth, if you end up not having the festival?Make sure that you have another, backup option for the event to happen because, if this is the first event you are planning, it will fail miserably. The best time to arrange any cover against cancellation is immediately after you have booked the vendor.

Visit http://besteventinsurance.com/ website to get more details and latest deals on festival insurance.

The Genesis of Mortgage Market Review and its Expected Impacts

The Mortgage Market Review (MMR) is a set of major reforms to the mortgage market set out by the financial services authority. These new mortgage market reviews are supposed to benefit all market participants by making the markets work better. The mortgage market review makes the financial services authority more interventional in its approach on matters of regulating the market. Some of the concerns that led to Mortgage market review include the conduct of business, charging and prudential requirements among others.

Where it all started

In October 2009, the financial services authority released a discussion paper concerning these requirements. The main purpose of these discussions was to have a deeper understanding of market analysis and assessing how effective the current regulatory framework was back then. This discussion led to various proposed changes in the mortgage markets. These proposals were under debate for a couple of years until release of the final policy statement of the Mortgage market review in October 2012. To know more visit our site www.conveyancing24-7.com.

New Mortgage Market review rules

  • The Affordability Statement: In every transaction, every broker or lender must ensure that borrowers meet eligibility criteria.
  • Income Verifications for all loans: Self-certification lending is no longer allowed in the mortgage market.
  • No Multiple High Risk lending: The Financial Services Authority recommended the banning of high value loans for individuals with bad credit and unstable incomes, which are all characteristics of high risk lending.
  • Interest rate stress tests: Lenders must conduct a mandatory interest rate stress test to determine what effect the mortgage payments will have on interest rate increase in the future.
  • Redefined definition of advice: In every consumer seller interaction, the seller will need to assess suitability, therefore non-advised sales banned.
  • The Execution-only exemption: The execution-only exception is to only be limited to situations where these is no interaction, customers not willing to take the advice and when the consumer has a net worth of £3M or earns nothing less than £300,000.
  • Mortgage advisers accountable to FSA: A relevant professional qualification worth a level three QFC certificate status is mandatory for all mortgage advisers and staff selling mortgages.
  • Initial disclosure document is replaced by a mandatory requirement for firms to give crucial information to the customer. This is to prevent overloading the customer with information. The initial disclosure document is replaced by a key facts illustration that is more suited to the customers understanding.

Desired Impact of the MMR

The mortgage market review rules were expected to make the mortgage markets suitable for all participants.

  • Lenders remain competitive and innovative with adequately capitalized sustainable business models.
  • A predictable and transparent regulatory body that minimizes the constant changes on house prices while minimizing fraud and financial crime in the market.
  • Keeping the costs and risks of lending in the mortgage market
  • A flexible market that offers a wide range of products for a variety of consumer types who can afford to buy homes.
  • A clear understanding of consumers to the risks and costs of mortgage borrowing or making property and investment option instead of a home

Looking forward your thoughts……