For perhaps the first time in US history, the government is mailing practically everyone in the country checks to help them get through what is a challenging time. Getting virus-related money to people is a massive logistical nightmare, and the opportunities for abuse are substantial. With the economy in lockdown, though, there’s no choice. Millions of people need money to live.
The current government systems, however, clearly aren’t up to the task. Sending out checks in the mail is a hopeless solution in a situation where people need money right now.
Fintech companies rightly see an opportunity. The current crisis is a chance for them to showcase just how much better life is when people choose to use their services for their transactions compared to traditional channels.
Even before the crisis struck, there was evidence that fintech firms were having an impact. Companies were making it possible for domestic B2B clients, for instance, to open a euro bank account without any of the usual fees. These kinds of services will likely become more mainstream. Banks closed their branches nearly a month ago now.
Some fintech companies are helping people get access to their stimulus money faster. One fintech firm called Chime, for instance, is providing its customers with a one-thousand-dollar advance that they can use while they wait for their official money from the IRS. The free overdraft feature for its customers allows them to get access to credit today. Chime will simply wait for the government to pay its customers and then recoup the money.
We’re not talking about small sums of money either. According to a Business Insider report, Chime also already distributed more than $1 billion to its 600,000 customers. And that number is likely to rise if the administration decides that it wants to keep people under lock and key for longer.
Interestingly, fintech is also giving users more options. The vast majority of people need the money from the government, but they don’t necessarily want it all at once. Instead, they want to stagger it over the weeks so that they can remain frugal and on a solid financial footing as the crisis unfolds. A bunch of companies, therefore, are enabling their clients to receive assistance in tranches of their choosing.
Fintech is also providing people with answers for how much money they’re likely to get in the post when it does eventually arrive. TurboTax – one of the country’s most popular accounting software developers – says that it will include features that will give people a sense of how much they’re likely to get paid. The system is free to use, too, meaning that anyone can sign up for more information on how they should budget.
Fintech, therefore, has an opportunity to prove its worth in the current crisis. Finally, there’s a compelling reason to make financial transactions faster. People desperately need money right now. They can’t afford to wait another week or month for the check to arrive. It has to happen today. And that’s what fintech is all about.
Taking your brand overseas is tempting, with the growing number of people making their purchases online. However, international expansion can also be overwhelming. You need to establish a new customer base, learn new laws and regulations, find reliable partners in another country, and familiarize yourself with local customs.
Are you ready to go global?
One of the first questions you have to ask is if your business is ready to succeed in an international market. Overseas expansion consumes a lot of time and resources, regardless of the size of your organization.
Evaluate your finances and determine if you have the funds to support and sustain business abroad. Monitor your share in the market and the status of your industry in the country of your choice.
Consider if you can build a solid customer base abroad. Just because your products sell well in your home country doesn’t mean it has the same appeal to an international market.
What challenges will you face when expanding internationally?
Major business decisions come with hurdles, but global expansion involves a different set of obstacles. Below are some of the challenges you have to anticipate before expanding overseas.
1. Language and cultural differences
You need a local staff member or outsourced customer service to translate the language and explain how things work in their country.
2. Foreign regulations
Business regulations and tax codes differ from one country to another. You also need to set up your business and a bank account to handle transactions more efficiently.
3. Product development and distribution
Some countries require packaging to be localized. It means you have to come up with a different package containing instructions in the country’s language and other guidelines.
4. Shipping
If you’re shipping items overseas from your country, you must come up with a way to eliminate the effects of shipping costs and taxes to encourage customers to buy. Will you be sending the goods directly to the local headquarters before dispatching to customers?
Or maybe it’s more cost-efficient to hire a package forwarding service? For example, buying from the US and shipping to the Philippines through a forwarding service reduces customs taxes and time spent on red tape.
5. Local competition
You need to convince customers to buy from you instead of the local business.
Best practices for a successful international expansion
After doing your research, you’ve finally decided that your business is ready for global expansion. Are you looking for guidance on how to do it? Here are some of the best practices from business leaders:
1. Learn about the market
Use available government data to learn the strength of your industry in terms of exports. If budget and time permits, visit the country where you plan to expand and talk to competitors, customers, and distributors. Doing so will help you learn if your product is feasible and if you can manage your business in the local setting.
2. Manage and understand customer expectations
Make your process clear to your customers. Let them know how long it takes to complete an entire transaction, from initial purchase to delivery.
3. Leverage relationships with influencers
Look for industry influencers in your target country and develop a relationship with them. As your relationship grows, they can be your mentors or guides toward your resources.
Expanding your business internationally is appealing but it comes with a set of challenges you won’t encounter when promoting locally. Research, research, and research. Make sure you’ve got all your bases covered before you launch, to ensure a successful venture.
Money: It’s great when you have it and not so great when you don’t. This is true in your personal life, and it’s very true in your business life too! If you mismanage the money you have in your possession, and if you make more losses than profits, then you might struggle to keep your business open.
For this reason, you need to be a money-savvy business owner. Through wisdom and common sense, you will place your business on a safe and stable footing, and you shouldn’t have to struggle unduly.
So, consider the following suggestions and make them a reality for you and your business.
#1: Save money when it is right to do so
Especially when you’re starting out in business, finding ways to save money is a must. If you spend too much too quickly, you will start to struggle if expected profits don’t come in, and your business could fold as quickly as it began. However, even when you do start to make money, frugality is still key. By taking positive steps in the right direction, such as finding ways to save money on your utility bills and office supplies, you will have more money to put into your reserves, and have more money available to you should you need it an emergency situation.
Check out these money-saving tips from our website:
Frugality can save your business, but in some cases, it can also destroy it. If you’re reliant on older technologies, for example, not only will you face less efficiency from your employees, but your business might also become outdated. And if you decide to reduce your number of hires because you want to save money, you might encounter problems when there are too many skill gaps within your operations. Sometimes, you have to spend money to make money, and this is especially true where new technologies and hires are concerned, so don’t be too Scrooge-like in your spending. Think carefully, and if the extra spending could profit your business, then go ahead if you have the funds to help you do so.
#3: Take advantage of tax savings
Tax season is never a pleasant time for business owners, not only because they have to deal with all of the necessary paperwork, but also because they have to come to terms with how much money they owe their local government. Thankfully, you can alleviate your pain and suffering in two ways. Firstly, hire an accountant or a tax consultancy firm to help you with the paperwork. Secondly, find ways to reduce your tax obligations. You can do this by listing your taxable expenses, claiming tax relief on your charitable donations, and by applying for tax credits.
To find out more (and to receive the help you need), get in touch with the professionals. We have provided a link for you below.
A money-savvy business owner is a successful business owner, so be sensible with the money you have in your possession. By finding ways to save it, and by spending it when it is appropriate to do so, you will protect the needs of your business. Commit to further research to learn more.
The Covid-19 pandemic has affected all of us, and in ways that many of us could just never have expected. With the closure of schools, millions of parents are now fulfilling the roles of teachers to their children, and it really can be a total minefield. We all want what’s best for our kids, but many of us haven’t studied or done any kind of formal education ourselves in over a decade and so we can feel just as lost and clueless as our children. Thankfully there are some ways to make this work, while retaining your sanity. Here are some ideas.
Ask their school to send out work
Your children’s school might already be on the ball, and be sending out work to be completed via email or the post. This is useful as it enables them to keep up with what they were already learning before schools were shut down, and prevents them from falling behind. If your child’s school hasn’t sent out any work it can be worth giving them a call or email, find out what sorts of topics they’d like you to cover and get some information on the syllabus so you’re able to stay in line with what would have been taught. From simple worksheets to online tasks and questions, there are a variety of resources the schools can send out or recommend which will give your homeschooling a little structure. If your child has exams coming up in the next year or so, making a start on the learning material now could be a good way to spend time. Many exams that were due to take place this year have now been cancelled, but more than likely things will have returned back to normal by 2021 and exams will go ahead as normal.
Utilise free online learning resources
There are lots of great online learning resources that are aimed at parents that solely homeschool, and many of these such as Twinkl have opened up their services during this time to allow anyone to use them. This means you have access to great learning programs without spending money which are perfectly tailored to your child’s age. Do some research and see what kinds of things are available, this will allow them to study a range of different subjects in a fun and interactive way. Many of these things your child can simply sit at the computer and get on with themselves without too much input from you, meaning you can get on with whatever other tasks you need to complete. Be sure to keep an eye on the amount of time your child spends looking at the computer each day, scheduling in regular breaks to avoid digital eye strain.
Switch it up with books, videos and games
You don’t need to focus solely on structured learning, the internet is absolutely chock full of great ways you can teach children and learn new things. From educational games and apps such as those focused on spelling or numbers, to ‘how to’ videos on Youtube, articles aimed at kids, books and more. Incorporating some of these things into your child’s day of learning will help switch things up a little, reducing the chance of it becoming monotonous and boring. It might not feel strictly educational, but there are plenty of skills and knowledge to be learned from things like games, apps, fun books and videos. Think about a subject you’d like to teach them about, then find related media that they can enjoy relating to it.
Consider learning outside of the ‘classroom’
Learning from home doesn’t have to be all writing down times tables, spelling practice and answering questions online. There’s so much you can teach them outside of an academic setting. From cooking and baking to gardening, sewing, painting and so much more. Lockdown restrictions mean that we’re limited to our time out in public and the things we can do so it’s important to get creative. You could use your exercise time as a chance to go on a nature walk, teaching about different insects, birds and animals. You could use your garden to find different species of insects or as a place to do some activity such as skipping with a skipping rope, jumping on a trampoline and much more. Even things like board and card games have their merit as they’re teaching kids how to learn the rules of a game and play by them. Use the internet to guide you if you’re stuck for ideas or just free up some time to do fun activities, with the peace of mind that all of the things you do together will be teaching children skills of some kind.
Don’t put too much pressure on
Finally, don’t put too much pressure on yourself. Remember, we’re all in the same boat. As parents, most of us aren’t academics and we’re not qualified teachers- all we can do is our best. Make the most of the resources that are available, but be as relaxed as you can. Make time to spend together relaxing and having fun, listening to music and watching movies along with schooling and learning. This is a strange time in your child’s life, but could be one that they remember fondly if you go about things the right way. The situation is already stressful, there’s no need to put tons of pressure on yourself or your child and make it even more so. Do what you can, and be happy together.
These days the utilization of aerosol products is very extensive. Safety, functionality, and usefulness are a plus, however not by any means the only ones.
The aerosol filling is the best option and is valuable since it facilitates day by day life. If you want to discover more about its advantages, take special attention because here in this post you will get to know everything about them. To put it plainly, all that you have to know!
Product quality that they offer
As far as product quality is concerned, aerosol offers a standout amongst other capacity and transportation alternatives. For one, since the item will be fixed hermetically, the substance of the can never get tainted by any microorganisms, germs, or residue. Secondly, the content of an aerosol will be 100% secured against the introduction to light and air, guaranteeing that the item keeps going longer. Apart from this, the product likewise stays away from vanishing. What’s more, it is this advantage of keeping up the item quality that makes aerosol jars perfect for carrying things like fragrances, creams, froths, etc.
Simple or easy to use
The usability offered by aerosol containers is essentially unrivaled by other bundling choices. With a conventional container, a client needs to open the top, use it, and afterward set the top back. In any case, with a pressurized canned product, one just needs to press a catch to get to the substance. That is it. In this way, on the off chance that you wish to offer the client the most effortless approach to get to the substance of a bundle, at that point aerosol containers are what you should use to deliver the item.
Does not harms the environment
Prior, aerosol cans were said to be hurtful to the earth. In any case, that is unquestionably not the situation starting at now. Professionals at Signature Filling Company opine to use aerosol products because nowadays, they are totally recyclable with the least negative ecological effect. The cans are additionally, for the most part, liberated from chlorofluorocarbons, in contrast to the past ones, which makes them more eco-accommodating. Likewise, most of the cans are additionally produced utilizing steel.
It offers safety
Aerosol products are hermetically sealed, which implies the item inside can’t break or spill. This is particularly acceptable in the event that you have a little kid or a pet who may be fascinated by an unusual spill on the floor. They likewise alter safely and apparently. This is acceptable provided that a pressurized canned product has been messed with, at that point the item inside may not be good for utilization any longer.
Non-perishable
Because of the total fixing framework, nourishment pressurized canned products can be kept much more so the item quality is ensured from the earliest starting point as far as possible utilization. Scrumptious, consistently and all over the place.
Since the item is constantly kept in the best conditions, the regular flavor stays until the absolute last drop. Since the item is applied equitably, the flavor stays even in the entire preparation.
These are a portion of the advantages of utilizing aerosol products. Ideally, this piece of information may help you in your future undertakings.
Recent Comments