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Making the Most of your Small Business Finances

Making the Most of your Small Business Finances

When you run your own small business, you’ll always be looking at ways to ensure there is enough money to keep everything going. This can be a challenge, especially in the face of stiff competition. It’s therefore important to ensure you are making the most of the resources you have. In this article, we’ll discover some of the ways you can make your small business finances go further.

Take advantage of free tools

Nowadays, there are plenty of tools at hand to help propel your small business. Social media accounts are free, and offer you the chance to promote your business to an audience of billions. A Facebook page, Twitter stream, and Instagram account will allow you to showcase your products or services, connect directly with your customers, discover trends to help you plan ahead, and ensure that you have a presence that is readily accessible, any time. It’s free to set up on eBay and Etsy, and although you will need to pay fees when items are sold, this is infinitely less expensive than having a bricks-and-mortar presence with associated overheads.

Keep shopping around for the best deals

You may be working with outside sources, such as raw material suppliers, manufacturers, designers, and delivery companies. You’ll also be paying for any applicable overheads, such as internet access and business insurance. It’s crucial to ensure that you are always getting the most for your money, in the same way as you would for your personal finances. For services such as internet access, check that your provider is still the most competitive every year. Do the same for your business insurer; there may be offers with other companies that save you money. Don’t be afraid to switch every year if necessary. Likewise, keep an eye on whether your suppliers and manufacturers offer an optimal balance of price and quality. If your chosen delivery company is more expensive than a competitor, particularly if their service is not exceptional, consider making a change. It’s always worthwhile to approach the companies with which you have an existing relationship to establish if they will match a deal from a competitor; they will not wish to lose business, and may be accommodating of a change in terms.

Explore networking ideas

There may be opportunities for your business to work with others on mutually-rewarding projects. Whether this involves reciprocal promotion, a collaboration on an exclusive item or service, or discounts shared between customer populations, it can be lucrative to explore these options. Network at local business-owner events (which may be free, or offered at a relatively low entry price) or join online forums for longer-distance alliances. Be open to all offers.

Expand the investment in your company

If it is time to consider expanding the scope of your small business, it may be prudent to seek additional investment. This may come from your own personal savings, assistance from a relative, agreement with an outside investor, or an attempt at crowdfunding. You may also consider a small business loan; if you’re considering this route, learn more here.…

10 of the Best Money-Making Ideas

10 of the Best Money-Making Ideas

With fall just around the corner, it’s time to start thinking about all the events that occupy the latter months of the year. Halloween, Thanksgiving, and Christmas will roll around sooner than we expect! As exciting as it is, fall and winter events can also come with hefty price tags. You might be concerned about making ends meet as the year draws to a close. Fortunately, there are plenty of ways to make a little extra cash. In this article, we’ll discover ten of the best!

Part-time work

If you have time to spare between other commitments, consider taking a part-time job. Check in with local stores, restaurants, bars, and music venues in the run up to the holiday season; there’s a good chance they’ll be looking to take on extra staff to cover the busiest time of the year.

Selling your old stuff

Another great way to make money, and help clear space in your home, is to sell some of the things you don’t use anymore. Clothes, shoes, accessories, toys, books, and sports equipment are always popular. Online platforms such as eBay make the process of transforming your old items into hard cash a breeze.

Start an Etsy store

Do you dream of selling items of your own creation? Make your dreams a reality by setting up your own store on Etsy. Make your products, list them online, advertise your store across your existing social media, and create a buzz around your designs. You’ll be making money in no time!

Online surveys

One of the easiest methods of making a little extra cash is to complete online surveys. Although payouts per survey are relatively small, consistent survey completion can yield a tidy sum over the long-term.

Test websites

Do you ever visit websites and think about how they might be improved? Website testing might be for you! There are several online companies looking to recruit people to visit websites and provide live, honest feedback about their experience. As with online surveys, it can take time to build up an income, but it’s straightforward and fun!

Get paid when you shop online

As unbelievable as it may sound, you can get paid to shop online! By using special links through online platforms such as Top Cashback, you can earn either a percentage of your total purchase, or a set amount of cash for making a transaction.

Sell your photos

Do you have beautiful snaps of a glittering ocean, an enchanted forest, or a spectacular sunset? Stock photo services are always looking for new images, and will pay you for your efforts.


If you have speedy typing fingers, fast internet access, and a good pair of headphones, you could make money from transcribing audio files into text. There are several online platforms connecting companies with transcription freelancers, and most will protect or guarantee your earnings.

Dog walking

Fond of our canine friends? You can earn extra money by walking dogs! As well as giving you the opportunity to boost your finances, dog walking has a positive impact on your health. Win-win!

Cash loans

You can also consider a cash loan. Websites such as are on hand to help; visit them today to learn more.…

3 Steps To Overcome Start-Up Pitfalls

3 Steps To Overcome Start-Up Pitfalls

Starting a new business comes with a degree of excitement. How long that lasts will depend on how viable your business idea was from the very first place. While anyone might get frustrated by failure and give it all up, an entrepreneur mentality won’t allow that to happen.

It is one that knows when to wrap things up and dust off the failure – ready for a new kick-off. This is necessary when you are starting a business because there will often be pitfalls along the way, and you must know how to skirt them.

Here are the essential steps to help you make successful inroads into the world of startups.  

Decide on your goals get a hold on your emotions

Every startup wants to survive long enough to see whether the venture is a viable one. That by itself is a goal. If you are the owner of the business, your initial excitement may falter once you start to experience the challenges that come along as you meet the reality of running a business.

It’s important to set attainable goals and try to reach them in a reasonable amount of time so you reduce your chances of failure and possible frustration. Keep away from goals that will get in the way of the business or those that are totally unrealistic in light of the prevailing business situation.

Whatever motivates you to start a business is always something emotional. Once you accept this, you can get a hold on these emotions and be able to run the business successfully.

Understand what cash flow is and where it’s to come from

Most people who are starting their first businesses often confuse cash flow with money in the bank or sales. This is incorrect. The amount of money getting into and out of the business and how it affects liquidity is sourced first from the capital.

So make sure that you have sufficient capital to begin with, and that it will last long enough to the point where the business is by itself generating the cash it needs to pay its bills.

Be aware of the sales mentality

In plain terms, the sales mentality is the awareness that you should focus all your attention on making sales. When you hear talks about past and future earnings in established companies, it’s the same thing as sales you hear in small companies.

Sales alone are not enough, it should be generating enough profits to cover your expenses, lest you spin out of business. It’s best to have an exit route from a cash problem. Some regions have more advantage over others. FAM for instance offers small business loans in Puerto Rico. As such this should be your way out if you are operating within the region.…

Government Regulations for Online Remittance of Money

Government Regulations for Online Remittance of Money

Online remittance of money is regulated by government rules and regulations. For sending money to India, the rules will differ according to the countries. Transferring from a country with a higher currency value, say Australia, the rules and conditions will be different.

While sending money from India, the government has defined rules and regulations that should be followed by the foreign companies, individuals, and natives of India. Depending on these regulations, the amount of sum that needs to be transferred is determined.
Foreign Exchange Management Act (FEMA), 1999 is the act under which all the outward online remittance of money is managed and regulated. The foreign trade and foreign exchange are regulated under FEMA
Approval of Transactions
All the outward transactions are regulated. There are predefined guidelines for the transactions that are allowed, prohibited, or require prior approvals for facilitation. These guidelines are listed in Section 2 (j) of FEMA.
Schedule I lists the transactions for which online remittance of money is prohibited. These include activities like lottery prizes, income from racing, and purchasing banned media, lottery tickets, or gambling credits.
Schedule II lists the transactions that require prior approval from the Central Government of India. Transactions like payment towards cultural tours, prize money from sports activities, and payments by PSU’s for advertisements in foreign media are mentioned under this schedule. The upper limit for the transactions is $100,000 .
Schedule III lists the transactions that require approval from the Reserve Bank of India (RBI). Business visits that exceed $25,000, private visits that exceed $10,000, and payment towards consultancy services for infrastructure projects that exceed $10,000,000; these online remittances of money require RBI approval.

Non-Resident Ordinary (NRO) Accounts
The foreign nationals living in India can manage their financial transactions with NRO account. This is the most common type of saving account for them. With this account, they can manage online remittance of money to their respective nation. However, the upper limit for remittances is $ 1,000,000 in an Indian financial year. The account holder needs to submit two chartered accountant certificates – Form 15 CA and Form 15 CB.
Liberalized Remittance Scheme (LRS)
This scheme allows individuals, both Indian and foreign nationals, to remit amounts from India. The only condition is that an individual should have an account in a bank that is authorized to carry out foreign exchange under FEMA. It should be active for at least a year. Some of the benefits of LRS are:
The upper limit for online remittance of money is $200,000 in an Indian financial year
Indian citizens are allowed to purchase shares and properties outside India. But, they should get an approval from RBI before proceeding. They can even open bank accounts with the international banks based outside India
If a foreign national wish to remit money, he or she must use their Permanent Account Number (PAN). This is required to prevent any fraudulent activities
Small Value Remittances
For those individuals who are not registered under LRS, they can opt for online remittance of money up to $25,000. However, they require a request letter from any authorized bank.
Other Remittance Options
Online remittance of money up to $100,000 is allowed without enrolling in LRS scheme. This is allowed for all the residents in India. But, the corporate and partnership entities cannot enjoy this benefit. The foreign transactions can be made for following purposes:
Medical Treatment
For Relatives
The foreign companies operating in India can opt for online remittance of money after completing all the formalities like payment of tax, submitting Balance of Payments, submitting auditor’s certificate, approval from the RBI, etc.
Online remittance of money from India is a complex task. People find online transfer procedures to be cumbersome task. But if you are aware of all the regulations for sending money to India , you can carry out transfers from major countries like Australia, US, UK, Russia with ease. There are various online remittance companies that can help you with the basic understanding of government regulations pertaining to online remittance of money.…

Pros and Cons of Being a Digital Nomad

Pros and Cons of Being a Digital Nomad

A digital nomad is the one who runs his business online and travels freely around the world. They rely on their laptops, internet, and technology for their business and living. There are many pros and cons of being a digital nomad.

Let’s see how beneficial it is to be a digital nomad:
Life is an adventure for them
Yes, this is very true. They can travel around the world and enjoy their life to the fullest because there are no time strings attached as they have to go to an office every day. So freedom is their tool, and it is the top pro of being a digital nomad.
You learn to let go of things you don’t need
It is that one professional that makes you less materialistic, you learn to let go of things that are of no use and the things that you don’t need anymore.
Related: Tips to start a Vodka brand.
Exploring the world
Another great advantage of being a digital nomad is that you get to explore the world. This way you learn about new things, different cultures, traditions and a lot more. It gives you more awareness of the world.
Where there are pros, of course, there are few cons as well:
The Internet is not always great
If the internet is poor, your business suffers a lot. We can say that the internet is the heartbeat of a digital nomad, so no internet means no work!
Riskier life
When you travel all around the world, you are mostly in uncertainty, this way your life becomes riskier.
Being self-reliant
You are self-reliant, all you have is you. You have to manage everything alone, and you are answerable to all the co-workers and clients. Dealing with so many people can sometimes be very exhausting.
Pros and Cons go hand in hand, but you should always focus on the positive side more than the negative. Enjoy and happy traveling!…

How can I get a customized smart number plate?

How can I get a customized smart number plate?

All motorised vehicles in India need a unique car registration number. It is also known as Licence Number. This number is displayed on the Vehicle number plate both in the front and the rear side of the vehicle. This registration number is issued by the Road Transport Office (RTO) of each state of India. As per the law, all Vehicle Number Plates has to follow certain guidelines. The font should be in ‘English Letters’ and ‘Modern Arabic Numerals’.

The size of the font varies depending on the type and size of the vehicle. There are specific colour codes for the vehicle number plates as well, like:

  • Private cars and two-wheelers have white number plates with black font
  • Commercial vehicles such as trucks, buses and taxis have number plates with yellow background and black font
  • Self-driven commercial vehicles and rental vehicles have yellow coloured fonts on a black background
  • Vehicles belong to foreign consulates has a light blue number plate with white fonts
  • The President of India and the Governor of all the states use official cars that have no Licence number. On a red plate, the emblem of India is embossed in gold
  • Military vehicles

The present format for Vehicle Number Plate India is:

  • First two letters indicate the State or the Union Territory of vehicle registration
  • The next two digits/ numbers indicate the sequential number of the district/RTO office jurisdiction where registration happened
  • The next set of 4 digits is unique for each vehicle. These 4 digits are sometimes prefixed with one letter and then two letters when the 4 digit number runs out
  • The fourth part is an international oval “IND” containing a hologram above it with a Chakra.

The Vehicle Number Plate on the front contains all letters and digits in one line, whereas, the rear plate contains the first two items on top and the remaining alphanumeric characters in the line below. Additionally, there are some special format for certain states.

How to get a Vehicle Number customized to your choice?

For many people getting a customized registration number for their vehicle are as exciting and passionate as buying the vehicle. Registering the vehicle is synonymous to buying a unique number for the vehicle from Government with registration fees paid. In case you want a specific number, RTO will check and if the number is already assigned to someone, then you have to choose an alternative. If no one has requested the number and it is available, then RTO will assign this to you with nominal fees. If the same number is requested by someone else, then the Government will do the auction of the number and the highest bidder will get that number. In such cases, the price goes premium. In certain cases, before going to RTO, approaching dealers and certain brokers come handy for selecting and procuring special and customized numbers.

High Security Registration Plates

Government has amended the motor Vehicle Rules 50 and 51 of 1989 and mandated the introduction of new number plates known as High Security Registration Plates (HSRP). Many states implemented that while some are yet to do. It has to have the following features:

  • A ‘Chakra’ hologram that is chromium based and hot stamped
  • ‘IND’ is printed under the hologram in light shade of blue
  • Made with 1 mm Aluminium sheet and laminated with white or yellow reflective sheets
  • A laser etched numbering that contains codes for identification of both the testing agency as well as manufacturer
  • Non-removable Snap Locks to keep the plate in place. If broken and tried to remove deliberately, it could not be re-used
  • Hot stamped Black film with ‘INDIA’ Inscription
  • A self-destructible sticker containing chromium hologram that is pasted on the windshield and contains information about the vehicle

How HSRP Benefits to Keep the Vehicle Secured?

  • The laser etched number is unique for each Vehicle Number Plate and contains pertinent information about the vehicle. Hence, helps to identify the authenticity of the vehicle
  • Snap Locks are highly difficult to remove once attached and these are not re-usable. This makes replacing this number plate by ordinary ones in case the criminals steal the vehicle

The white/Yellow lamination of reflective sheets make it more visible at dark and avoids accidents…

Tips for Creating the Perfect Budget

Tips for Creating the Perfect Budget

If you think about, you probably spend money every day. From food and drinks to clothes and electronics, people will make purchases several times a year without thinking about how much they are spending. Those who have chosen to be a bit better about managing money will attempt to create a budget. This is always a good idea, but in order for it to be successful, you have to know how to create the perfect budget.

Here are a few tips to help you create the perfect budget.

Be realistic

Oftentimes when people decide to create budget, it is not successful because they were not being realistic. When you sit down and look at finances,

review everything carefully. Where can you spend less? Where do you need to be flexible? How much can you really save every month? The more realistic you are about your income and expenses, the easier it will be to stick to your budget.

Set a savings goal

Most people who budget are doing so because they want to save money. Whether it is for an emergency fund, vacation or a huge shopping trip, it is always nice to have a few bucks put away. As you plan out your budget, set goals for how much you want to save. This will help you get a better idea of how much you can actually spend every month.

Use cash possible

Nowadays, everyone makes purchases using cards. Between online stores like Amazon and many other retailers you can visit in person and online having the option to pay with your card, people rarely use cash anymore. Since you will be budgeting, using cash is actually a smart thing to do. You

will be able to see how much you are spending and will likely have a little more control over your money and can stick to your budget easier.

Not everyone enjoy being restricted, especially when it comes to how much money they can spend on the things they want and need. Budgets may seem unnecessary to some, but they have helped many people build their savings. If you have considered creating a budget, it would be worth trying.…