Tag: Business

HubSpot Named Boston’s #1 Best Places to Work by the Boston Business Journal #internet #home #business

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HubSpot Named Boston’s #1 Best Places to Work by the Boston Business Journal

Here at HubSpot, we double down on employee experience. Whether it’s a culture of autonomy or the commitment to build a respectful and inclusive workplace, HubSpot hires remarkable people and equips them with the tools they need to be successful. We even keep track of our culture in our 128-slide Culture Code (which has garnered over 2.8M views on SlideShare).

Today, HubSpot is honored to be named the Boston Business Journal’s #1 Best Places to Work in the Large Companies category (250-999 employees in MA). The award, announced last night at Boston’s beautiful Symphony Hall, is the sixth time HubSpot has ranked on the BBJ’s Best Places to Work list and the second consecutive year at the #1 spot.

“We feel incredibly fortunate to be celebrating HubSpot’s tenth birthday this year, and this award is icing on the cake,” said Katie Burke, HubSpot VP of Culture and Experience. “We are proud to be both a Boston company and a company where our employees are proud to work, and look forward to helping many more customers, companies, and employees grow in the ten years to come. We are tremendously grateful to the BBJ for this great honor and as always to our employees for making HubSpot a dynamic, inclusive, and fun place to work every day.”

Some of the benefits of working at HubSpot include tuition reimbursement, maternity and paternity leave for new parents (as well as a mother’s room), a free books program, unlimited vacation and work-from-home, a dog-friendly office space, a fully-staffed coffee bar with cold brew coffee and tea on tap, plenty of open space for collaborative work, and a kitchen fully stocked with healthy snack options like cereal, fruit, vegetables, and much more.

Winners and rankings for the BBJ’s Best Places to Work list is determined by Quantum Workplace, which conducted an online survey of employees from each company. Participants are asked to rate their workplaces based on factors like work-life balance, job satisfaction, advancement opportunities, management, compensation, and benefits.

See the full list of winners on theBoston Business Journal’s website. and if you’re interested in learning more, visitHubSpot Careersfor more — we’re hiring!





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The Must-Read Small Business Articles Of 2010, Selected By Experts #business #help

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The Must-Read Small Business Articles Of 2010, Selected By Experts

This article was originally published on Open Forum and has been republished here with permission.

With the end of the year fast approaching, I wanted to take a look back at all of the great advice and insights shared by our bloggers on OPEN Forum and highlight a few top articles.

While I had my own favourites, I decided to ask the authors themselves for their selections, too.

So if you only get to read a portion of our content, here are some articles you should check out, in case you missed them.

6 SEO Fundamentals that Every Business with a Website Should Know

7 Insanely Useful Ways to Search Twitter for Marketing

How to Create a PR Crisis Strategy Before You Need It

Seek out Less Traveled Roads

5 Ways to Conquer the Culture of Reaction

Here’s A Wacky Idea: Give Your Employees as Much Vacation as They Want

10 Tips for Re-Energizing Your Day Every Day

80 Ways to Steal Valuable Minutes for Your Work Day

Tax Rules You Should Know about for 2011

5 Trends that Will Shape Small Business in 2011

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Financing your new business #business #school

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You need to have a viable business idea. You must also have what it takes to make it work. You also must have enough money.

If you’ve got what it takes to start your own business, and you’ve done your research, forming a business is the next exciting leg on the journey.

Many people struggle with the financial side of managing their small business. Not everyone has a head for figures or wants to become an accountant.

If you want to run a legitimate enterprise, you must pay tax. It’s worth understanding your tax obligations before you start up to factor them in.

Many people, including some leading business representatives, argue that small firms are over burdened by the weight of business law.

It might be a cliché, but it remains true – planning without action is futile, while action without planning is fatal. You need a business plan.

Marketing matters. Marketing drives sales for businesses of all sizes by ensuring that customers think of their brand when they want to buy.

Premises provide the second-biggest overhead for many businesses. If you can start your business from your home, it will be much easier to break even.

The success or failure of a business can often rest in the hands of its most valuable asset – its people. But managing them can be a challenge.

There can’t be many firms in the UK, however small, that don’t use IT in some way. Many businesses simply couldn’t exist without IT.

Half of all new businesses fail within five years. So how do you survive and thrive? Find out how to scale up and become a high-growth business.

Financing your new business

Chartered certified accountant Raphael Coman of Coman Co explains the key start-up funding options

Finance is important to any business – especially at launch and during times of growth. Success can often depend on having access to the right finance, since many profitable businesses fail simply through a lack of cash. The following explains 12 common sources of start-up and development finance.

  1. An overdraft is the amount you owe on your account to the bank. Bank overdrafts can be repaid more quickly than formal loans and have no early repayment penalties. Banks often prefer to grant or extend an overdraft rather than make a loan.
  2. A loan is a more formal debt. Bank loans cannot be recalled, unlike overdrafts, and they can improve the certainty of cash flow forecasts and budgets.

Banks will ask for security on larger loans and this is often your home. This is known as a personal guarantee, and is a high-risk option.

You may secure loans of between £1,000 and £1 million under the Enterprise Finance Guarantee scheme. Under the scheme you pay a 2% annual premium on the outstanding balance of the loan and the government guarantees to pay the bank 75% of the loan value if you default.

You should have a business plan ready to show to lenders and investors and agree the terms of the financial arrangement in writing.

  • Obviously, you can invest personal savings in your business. The interest you forgo on savings is normally less than the interest you pay on borrowings. Interest received on savings is normally liable to tax, whereas interest paid on business borrowings can help reduce taxable profits.
  • You could ask family and friends to lend you money, provided they understand the risk of loss if the business fails.
  • Limited companies can issue shares. although this can dilute your ownership and control of your business.

    The British Venture Capital Association and the British Business Angels Association can introduce you to possible investors. A venture capitalist can bring skills and networks to strengthen your business, but they will normally want to be a director and will push for growth.

    The Venture Capital Trust scheme and Enterprise Investment Scheme (EIS) both provide tax incentives for investors wishing to buy shares in growing businesses.

    Under the EIS scheme there is scope for you to raise finance by purchasing your own company shares and deferring any capital gains you have made in the past three years.

    If a company disposes of more than 10% of its business under the EIS scheme, it will also be exempt from tax.

  • Organic growth through retained profits does not require any borrowing commitments or dilution of control. Reducing stock and debtors will improve cash flow.
  • Factoring enables you to obtain an upfront payment for the money owed to you by your customers. Commonly, factoring companies will lend up to 85 per cent of the amount outstanding.
  • Hire purchase allows you to pay for equipment in instalments, but it can be costly.
  • Leasing can enable you to use the latest equipment or machinery without actually owning it.
  • A small company pension scheme can be used to buy certain assets, such as commercial property, for use by the business and can borrow up to half of the finance required.
  • Government and local authority grants and loans on favourable terms may also be available.
  • Getting it right

    Raising finance is always challenging, especially for small businesses and particularly in a recession. In deciding on the best source of finance, you should take account of a number of factors, such as taxation, the long-term plans of the business and its ability to meet its repayment commitments.

    Financial planning is important, particularly when considering whether the business has the resources to manage expansion. A business plan is usually necessary for borrowing from a bank or other lending institution. It is also useful for focusing your mind on your objectives.

    Written by Raphael Coman of Coman Co.





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    The 8 Essential Elements of an Annual New Business Plan #creative #business #cards

    #new business plan

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    The 8 Essential Elements of an Annual New Business Plan

    The job of an agency new business professional is akin to organizing chaos dictated by demanding pitch schedules. Compounding this, Q4 often brings a flurry of pitch activity known to ruin many a Thanksgiving or Christmas holiday.

    And while all this activity helps to fill the pipeline, the timing is unfortunate because it distracts you from the type of reflection and planning that are so important to setting you up for success for the next year or quarter.

    I know. It’s tough to add another project to your already overwhelming to-do list, but I urge you to make time to write your new business and marketing plan for 2016. Here are some reasons why it’s well worth squeezing it into your 12-hour days:

    • It’s the best way to measure your success. And I’m referring to the collective “you” here because it takes the entire agency to make new business efforts effective. An annual plan not only sets expectations for you but also for others at the agency who need to contribute to the agency’s success.
    • You’ll learn a lot! It gives you an opportunity to reflect on the past 12 months and accurately set projections for the year ahead.
    • It sheds some light on what the heck you do at your agency. For those who are not routinely involved in new business, it can seem like a black hole of mystery. Sharing your plan — whether to an executive committee, department heads, or even the entire staff — adds clarity and gives everyone something to aim for.
    • Your boss will be impressed. Don’t wait to be asked. Get on your CEO’s schedule to review your outline and discuss your intentions for putting this plan together.

    Sometimes the hardest part is getting started, so I’m going to get the ball rolling for you by giving you a basic outline to follow.

    8 Elements to Include in Your New Business Plan

    1) Executive Summary

    This has to be written last, but it should always come first. By starting with a smart, concise summary, you’re showing the same kind of respect for your audience’s time and attention as you would if this were a RFP response.

    2) The Team

    Define the new business and marketing ecosystem at your agency. Who’s on your team, and what do they do? How did you grow this year, and how are you planning to grow next year? Do you need to hire to achieve your new goals? What kind of operational efficiencies did you introduce?

    3) Performance

    Analyzing the past year will help you better forecast the year ahead. Where are your opportunities coming from? How many pitches did you participate in? Were they the right ones (in terms of revenue, cultural fit, creative opportunity, etc.)? Did you wait for requests to come to you, or were you more proactive? As you answer these, you’ll start to see a profile emerge that will help you make better decisions about what to pursue and what to decline next year.

    4) The Marketplace

    What kind of trends are you seeing? Think about things like the trend towards project work versus AOR assignments. How does your agency need to adjust to stay competitive? Who are your competitors now? What agencies do you want to be competing against a year from now?

    5) Revenue Goals

    Crunch the numbers. Based on your historical win rate, how many pitches do you need to be in to meet your numbers? How much can you rely on organic growth? How much do you need to focus on proactive prospecting? Don’t do this in a vacuum; spend time with your CFO and CEO to make sure you are managing their expectations as well as integrating corporate financial goals into your plan.

    6) Meeting Those Goals

    This is a biggie and probably where you’ll need to sink most of your time. Dust off your selection criteria, and start doing your research. You want to determine the categories you’re best suited to pursue (and why) or refine your ideal client profile. and then use that to define a super-targeted list of prospects. Another important point to include in this section is the level of support you expect from your colleagues in other departments such as strategy, research, and design. What’s it going to take to make a compelling pitch to your prospects?

    7) New Business Tools

    What tools are you lacking to meet your goals? If you’re planning on doing a ton of personal outreach, you’ll want to invest in a good contact management database or CRM. an email program, a marketing automation tool, or other solutions. Maybe this is the year for a website redesign. Or, if you’re getting invited to the pitch but not making it past the first round, maybe you need to learn how to tell your story better and invest in rewriting your case studies and credentials.

    8) PR and Marketing

    How will your agency’s positioning serve you? Is it strong enough to differentiate you from your competition? Is it meaningful enough to inform your messaging? What kind of events should you attend? Speak at? Or do you create your own event? What kind of awards shows should you enter? Besides getting you mentioned in the usual suspects such as Ad Age and Adweek. what can your PR team do to get you exposure in vertical trade publications or at conferences?

    This may seem like a daunting amount of work. That’s why you need to start planning it out now. It’s a little more daunting if this is the first time you’ve ever created a plan so know that it gets easier and easier each year.

    I can’t promise a last-minute RFP won’t ruin your holiday season, but now it’s a lot less likely that your new business plan will.





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    Business – Management Articles #small #business #financing

    #business articles 2010

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    December 29th, 2010

    I graduated institute of economics and management in Moscow and that s why it brings me a lot of pleasure to read information about different directions in business and management. I really fond of entering this resource and knowing recent news in economics, what most famous economists and businessmen tell about economy situation nowadays and a lot of other things of this kind. So, if you are looking forward about knowing this information too then you shouldn t miss a chance of travelling through this great resource first of all. And then, after journey through it you shouldn t miss a chance of relaxing on HD Mania where you could buy movies online.
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    If you want to properly manage your business, then you need to meet some requests from the market and must know on what your customers are looking from you. Market demand and business management are interlinked because if the market will have what you can produce, then you are considered already as a good business manager. You need to consider the fact that customer satisfaction is the core to success.
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    November 30th, 2010

    It is necessary to look for specific requirements from the market in order to manage business properly. One should look on what the clients are exactly finding for from your services. Market demand and business management go together because the market gets the products you make. And if you are able to meet the market demand and can perform proper business management, you will achieve economy within a short time. Your customers will come looking for you.
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    November 15th, 2010

    Business management is one of the central aspects of being a successful businessman. To be such, you have to unceasingly find ways on how to reduce management problems to increase one’s economy and the satisfaction to be rendered to the customers. If a businessman can practice discipline, management problems will never be hard to solve and for this reason, discipline is the backbone of a proper business management.
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    October 29th, 2010

    Time is one of the most intrinsic factors that should be considered to become successful which means that a perfect timing is also essential even in downsizing. This includes the leadership that sees secures that the downsizing is properly done well. Such an instant needs a leader to have sympathy at this certain point in his or her career. At this point of time, a leader must be reliable and should also be seamless in his or her management aspect.
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    Time is an essential element in becoming successful, therefore timing also becomes essential even in downsizing. This involves having the leadership that best sees to it that the downsizing is done well. Such a situation requires a leader to have sympathy at this certain point in his or her career. Aside from that, a leader also motivates those who work under their care to help in improving the business. At this certain period, a leader must also be seamless in his or her management.
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    One core aspect of being a businessman is business management. As one, you are constantly thinking of ways on how to reduce management problems as well as increasing one’s economy, not to mention the satisfaction that is rendered to the customer. Since a businessman who practices sheer discipline, there will be only just a small amount of management problems. This is why discipline is the backbone of business management.
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    For you to manage a business, it is necessary for you to look for specific requirements from the market or to take a look at what exactly your clientele is looking for from you. Managing a business as well as a market demand go hand-in-hand since the market gets the products you make. Because of this, you can be considered as a very good manager who can achieve economy within a little amount of time. As a matter of fact, your customers are satisfied and they will come back for your products and services.
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    in order to manage your business you need to seek certain requests from the market or have a look over the fact that what do your customers seek from you? Business management and market demand are interlinked because if the market gets what you produce then you are likely to be considered as the best business manager who can gain economy within a very short span of time. In fact you consider customer satisfaction and customers will move towards you.
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    business management is an important aspect in concern or mind of every businessman. They are very busy thinking over the fact that how can they minimize the management problems and increase their economy level along with customer satisfaction. Because a disciplined businessman has minimum number of management problems therefore we consider discipline is the backbone off business management.
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    Quizballs 5 Free management and business quiz test questions for quizzes, learning and fun #business #process #management

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    quizballs quiz 5 – tough management questions without answers


    free management and business quiz questions – for team games, learning and fun

    This is a page from the Quizballs zone of the Businessballs website. Quizballs provides free quiz questions and answers for trivia quizzes, team games, pub quizzes, general knowledge, learning and amusement. Use the quiz and questions and answers to suit your purposes, either as a stand-alone quiz, or to cut and paste to make your own quizzes.

    Quizballs accepts no liability for any arguments, lost bets, or otherwise unfortunate consequences arising from any errors contained in these quizzes although quite a lot of effort is made to ensure that questions are clear and answers are correct. Please notify us of any errors, or questions or answers requiring clarification.

    These quizzes are free to use in pub quizzes, trivia quizzes, organisational events and team-building, but are not to be sold or published, which includes not posting them on other websites, thank you.

    These are the quiz questions. Here are the quiz answers with the questions. A link to the quiz answers also follows the questions below.

    see the quizballs.com quizzes website operated by businessballs

    quizballs 5 – tough management and business quiz – free quiz questions

    Information about all of these subjects is on the businessballs website. A search tool is at the top of the page.

    1. What psychological methodology does NLP stand for?
    2. David McLelland’s motivational theory identified three principal motivational needs which he said each of us possesses to varying degrees, and which characterise our motivational behaviour; what are these three motivational needs?
    3. Which organisation produces the UK’s ABC1C2 (etc) Social Grade Classifications Statistics?
    4. What does the selling acronym AIDA stand for?
    5. Who developed the ‘Equity Theory’ of job motivation in the 1960’s?
    6. What does the financial abbreviation P L stand for?
    7. Who developed the ten stages of corporate life cycle, starting with Courtship and Infancy and ending in Bureaucracy and Death?
    8. The Ansoff matrix correlates what two aspects of business development from the ‘new’ and ‘existing’ perspectives?
    9. In selling and communications, what do ‘open questions’ generally achieve?
    10. Albert Mehrabian researched and published a now widely referenced set of statistics for the effectiveness of spoken communications relating to feelings and attitudes; what three types of communication did he identify and what percentages for each did he attach to each type in terms of the percentage of meaning (or understanding) that each communication type conveyed from person to person in his study?
    11. In business accounts and financial reporting, expenses which change according to scale of performance or usage or demand are known as what?
    12. What is the name of Ingham and Luft’s model and theory which deals with hidden and open areas of knowledge about a person?
    13. The ‘360 degree’ appraisal method collects feedback from whom, about whom?
    14. What are the four levels of learning evaluation defined in Donald Kirkpatrick’s original four-stage model?
    15. What is the correct ascending order of these human needs according to Maslow’s Hierarchy of Needs: Esteem, Safety, Belongingness and Love, Self-Actualisation, Biological and Physiological?
    16. What part of our brains typically handles process-type functions, according to brain theorists such as Katherine Benziger?
    17. What does the accounting acronym FIFO mean?
    18. One of the most effective and efficient forms of marketing is abbreviated to the initials WOM; what is it?
    19. Bloom’s Taxonomy of Learning Domains divides learning development into three main aspects: Cognitive, Affective and Psychomotor; what might these three aspects of personal development more commonly be called?
    20. Who wrote the Seven Habits of Highly Effective People?
    21. The ‘Big Five’ personality dimensions, by which modern day psychologists believe every person’s personality and behaviour tendencies can be measured are commonly abbreviated to the OCEAN acronym; what does OCEAN stand for?
    22. What are the four metaphorical terms used to describe products/services in Boston Matrix model according to market share and market maturity?
    23. The financial ratio which divides a company’s ‘liquid assets’ by ‘current liabilities’ is known by what popular term?
    24. What three important things should be confirmed and understood before conducting a brainstorming ideas session?
    25. What does the SWOT stand for in SWOT analysis?
    26. What are the ‘Four Functional Types’ within Carl Jung’s theory?
    27. With what was the Kyoto Summit concerned?
    28. What are the four sequential stages of the ‘conscious competence’ learning model?
    29. What is the ‘1st Law of Cybernetics’ (also known as the ‘Law of Requisite Variety’)?
    30. What are the four main ‘Temperament’ types called within David Keirsey’s Temperaments personality theory?
    31. According to the Tannenbaum and Schmidt theory relating to leadership, delegation and team development, what must be reduced in order for the team’s area of freedom (and growth) to increase?
    32. What does the financial term ROI stand for?
    33. Whose experiential learning theory comprises the learning styles named: Concrete Experience (feeling); Abstract Conceptualization (thinking); Active Experimentation (doing); and Reflective Observation (watching)?
    34. Daniel Goleman was responsible for popularising and defining what management and behavioural concept in his eponymously titled (ie. the title is also the subject) 1995 book?
    35. What is psychometrics?
    36. What is the management technique that is commonly informally abbreviated to MBWA?
    37. Large size hand-writing generally indicates what characteristics in the personality of the writer?
    38. Since October 2004, UK employers must follow a minimum process of three-stages for handling disputes with employees, including disciplinary and grievance matters; what are the basic minimum three stages required?
    39. Douglas McGregor defined two main styles of management; what did he call them and how are each of the two styles typified?
    40. Bruce Tuckman’s theory about team development uses what four sequential rhyming words to describe the four stages of a group’s progression?
    41. What are Howard Gardner’s seven (original) Multiple Intelligences?
    42. According to Herzberg’s motivational theory, which of these are ‘hygiene needs’ (or ‘maintenance factors’) and which are true ‘motivators’: work conditions, salary, achievement, advancement, work itself, responsibility, company car, status, recognition, and personal growth?
    43. What does VAK stand for in the learning styles theory?
    44. What does the business acronym IPO stand for?
    45. What does the PEST stand for in PEST analysis?
    46. What do ‘open questions’ typically begin with?
    47. What visionary management thinker wrote The Age Of Unreason and The Empty Raincoat?
    48. What are the names of the (nine) Belbin ‘team roles’?
    49. In marketing, what are the The Four P’s?
    50. A lot of the traditional 20th century sales theory and training was influenced by the 1937 book ‘How to Win Friends and Influence People’; who wrote it?

    Information about all of these subjects is on the businessballs website. A search tool is at the top of the page.

    quizballs 5 – free management and business quiz answers


    quizballs main page – more free trivia quizzes questions and answers





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    Business Loans, Acquisition Funding, Commercial Banking – Opus Bank #business #careers

    #business acquisition loans

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    Business Loans

    Opus Bank’s portfolio of products, services and solutions are particularly well-suited to support small to mid-sized businesses with revenues from $5 million to $100 million and more. Opus Bank has commercial business banking resources to help your business grow and expand. We believe in building long-term business partner relationships, so you can count on us to be there as you grow.

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    Financing subject to credit and collateral approval by Opus Bank





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    RCM Business – Right Concept Marketing #memphis #business #journal

    #rcm business

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    Courtesy: Indian Express, 18 Nov 2015 PM Modi said that the focus of his government was on providing system-based and policy-driven governance. Highlighting the achievements of his government in tackling the menace of corruption in bureaucracy, Narendra Modi said several steps have been taken to make the bureaucracy more efficient, performance-oriented and accountable. Asserting Continue Reading

    Courtesy: The Hans India, 4 December 2015 The model law would be comprehensive and include collective investment schemes, chit funds, direct selling schemes and such other activities which are presently permissible but are defined and regulated in a dispersed manner New Delhi: To curb illegal money pooling schemes, a Parliamentary panel has pitched Continue Reading

    Courtesy: DNA India, 27 Nov 2015 The Calcutta High Court on Friday said that it expects the West Bengal government to perform its sovereign duty in facilitating return of money to investors affected by several ponzi schemes as it had done in the case of sufferers in Saradha chitfund scam. Adjourning the hearing of Continue Reading

    Courtesy: The New Indian Express, 22 August 2015 CHENNAI: The Securities and Exchange Bureau of India (SEBI) has taken a tough stand against any companies indulging in perpetrating Ponzi schemes, with Chairman U K Sinha saying that the regulator had brought down the hammer on 250 such companies over the last few years. “We Continue Reading

    Courtesy: Zee News, 2 August 2015 New Delhi: A proposed bill to check fraudulent multi-level marketing (MLM) or ponzi schemes has been put on hold by the government. The Finance Ministry had started the process to amend Prize Chits and Money Circulation Schemes (Banning) Act, 1978 to check the menace of ponzi schemes which continue Continue Reading

    Courtesy: Zee News, 11 August 2015 New Delhi: The government on Tuesday said CBI has registered 72 cases relating toponzi schemes in about 3 years, while the Enforcement Directorate has initiated action in 57 cases under the money laundering law. Central Bureau of Investigation (CBI) has also registered a total of 72 cases (71 regular Continue Reading

    Courtesy: DNA India, 15 June 2015 Ponzi schemes are one of the biggest types of economic frauds targeting unsuspecting investors. As per figures available, Ponzi schemes have led to default of over Rs 80,000 crore, affecting over six crore people. Lack of awareness among investors is a big factor responsible for the widespread prevalence Continue Reading

    Courtesy: MoneyLife, 14 Oct 2014 The Bangalore Police are investigating Adooye.com, which was selling a ‘package that promised money for watching online advertisements and enrolling new members, in a classic money circulation scheme. The MLM, which reportedly collected over Rs600 crore has quietly shut shop and left over two lakh registered customers in the lurch Continue Reading

    New Delhi: Expecting the government s efforts to expand financial inclusion to help curb the ponzi menace in the country, Securities and Exchange Board of India (Sebi) Chairman U K Sinha has said that agents, lured by 20-30 per cent commissions, have been pushing illicit schemes among gullible investors in the absence of good savings products . Continue Reading





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    Managing Your Business Credit #writing #business #plan

    #business finances

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    5 simple steps you should take to manage your business credit

    Determine whether or not you already have a business credit file. Small business owners should first know if they have a business credit file with D B. You can find this out by calling D B Customer Service at 1-866-785-0430 or visiting http://iupdate.dnb.com/iUpdate/mainlaunchpage.htm .

    If you don’t have a business credit file, establish one by applying for a D-U-N-S® number. Small businesses should apply for a D-U-N-S® number, a unique business identification number, as soon as they start their enterprise to start the process of creating a business credit file.

    If, when you call or visit the D B web site, you determine that you already have a business credit file, review it completely to understand what information it contains. Add or modify the information as necessary to ensure that those looking at your business credit (such as vendors, suppliers and financial institutions) are making decisions based on complete and accurate information.

    Establish a business credit history. When they are starting up, many small businesses use their personal credit and finances to get their
    business going. But they should establish a credit history by putting expenses (such as a business phone line) in their business name and using a commercial bank account to pay their bills.

    Pay bills on time – and understand other factors that influence your credit rating. In order to improve your commercial credit scores
    and build a positive payment history, the most important thing to do is pay your bills on time. Be very careful not to overextend your business, and use any line of credit judiciously. While payment behavior is important, credit ratings are based on multiple factors. D B, for example, maintains 150 factors that go into a credit rating, such as industry, revenues and number of employees.

    Monitor your business credit file and keep it up to date. According to D B, the credit score of about one in three businesses declines over just a three-month period. By monitoring your business credit file, you will be aware of any change in your ratings before it affects your relationships with customers, suppliers and financial institutions. You should keep your credit file current and accurate, reflecting changes such as location, number of employees, outstanding suits/liens and revenue – all of which impact your credit rating

    Monitor your customers’ and vendors’ credit. Monitoring credit reports that provide a clear and complete picture of the credit standing of your customers can help you to determine how much credit, and on what terms, you should extend

    Why small businesses should manage their business credit

    Small business owners are entrepreneurs. They are successful because of their ideas, their passion, their drive. But they generally aren’t accountants, and as a result they are often unaware of just how important actively managing business credit is to their success.

    Small business owners agree that cash flow management is one of their top concerns.

    Actively managing their business credit can help small businesses ensure positive cash flow by:

    Securing more financing at better terms. Good credit can ensure that small businesses get financing when they need it. According to the SBA, insufficient or delayed financing is the second most common reason for business failure. And, since most loan decisions below $100k are automated, the business credit file will often dictate the amount and terms of a loan. For businesses with poor credit ratings, top national banks may increase credit card interest rates on average from 9% to 18% and loan interest rates on average from 8% to 12%.

    Ensuring you get needed supplies at affordable terms. Suppliers evaluate your credit and make decisions about how much credit to extend to you – perhaps a $30K credit line could have been $60K with a stronger business credit file. Good business credit can ensure that you get the supplies you need under the best possible terms, freeing up more money for your business.

    Making smarter credit decisions on your customers. Knowing the credit of customers enables small businesses to provide better terms to creditworthy customers and avoid doing business with customers who pay slowly – both of which can lead to improved cash flow.

    Protecting yourself against business identity theft. Actively managing your business credit file helps you ensure that fraudulent or incorrect information is not in the file. 15-30% of all commercial credit losses are due to fraudulent activity. It’s important that your business credit file truly reflects how good your credit is, and that you are aware of any inaccuracies and missing data so you can address them promptly.





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    Test Your Small Business Know-How

    Starting your own small business may sound like a good deal. You can call the shots, set your own hours and eliminate long, pointless meetings. But how much do you know about getting started — and achieving financial success?

    Or maybe you’re already running your own show and all the challenges that come along with it.

    Either way, try our ten-question quiz. We bet you’ll learn something helpful along the way.

    Quiz

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How

    Test Your Small Business Know-How





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