Записи с меткой «bank»

Is an LLC Your Best Option?

Entrepreneurs must already choose the legal structure of their business even before they start such venture, if only to make sure that they now the risks and the advantages involved in starting that kind of business. Business owners can choose to put up a sole or single proprietorship, enter into a partnership or form a corporation.

Each of the three legal structures has its own advantages and disadvantages. A sole proprietorship is the easiest type of business to put up and operate because only one person is responsible for decision making and for running the business. However, being alone in business means you are solely responsible for whatever happens to you business and you only have to rely on your own capital and resources.

A partnership is better considering that two or more heads are always better than one. A partnership offers more possibility in terms of capital base and of brain power. However, partnerships do not always work due to conflicting business decisions.

The next if not the best option is to form a corporation which would be composed of incorporators who will put up the seed capital for the business. A corporation can provide more sources of funds and the owners are only liable to as much as the money they have invested in the business. Provided of course that the corporation does not indulge in illegalities or does things in bad faith. Doing so would necessitate the application of the principle of piercing the veil of corporate fiction. This means that the owners can be made accountable even beyond the amount of their investments if they are found to be in bad faith in certain transactions.

While the corporation has proven to be the best option for business owner, there is apparently another option called the Limited Liability Company which offers the characteristics of both partnership and corporation. Members of a Limited Liability Company can enjoy the limited liability enjoyed by corporations unless a personal guarantee has been signed. This legal structure also offers tax benefits much like the benefits available to corporations.

A Limited Liability Company does not however require the bureaucracy of a corporation in terms of the taking of minutes. And unlike in a partnership where the partners can only participate in decision-making depending on their partnership status, members of a Limited liability Company can take part in decision making without losing their limited liability protection.

However, while a corporation can last for 50 years renewable for another period, a Limited Liability Company can be easily disbanded particularly when a member dies or becomes bankrupt. It is also more feasible to form a corporation if there are plans to do a public offering.

Despite the disadvantages of forming a Limited Liability Company, it is still the best choice for business start ups that are still testing the waters but already want to give their business a legal structure.

Interim resources london

During the time of crisis in the company or business, top management usually adopts interim management to cope with the situation. It is also helpful in the event of sudden resignation of CEO or MD. Interim management is an efficient tool of management to maintain your company’s routine operations in time of crisis or until your next manager arrive. Many companies are facing such problems these days thus interim management is in great demand and most of the people are also choosing it as a career. In spite of its positive affects, top management personals fail to recognize its importance as an effective supplement tool to the management of the company. It is not only useful on the temporary basis but also for long term prospects.

Interim management service company are specialised and are not interested personally in your company thus provide impartial views on your company’s management system. It will be very beneficial for your company if you hire an interim manager to scrutinise your management activities because there may be some loopholes which you must have fail to recognise on your own. They not only find these issues but are also excellent professionals for finding solutions for these problems and also help you in future for implementing these tips and techniques for your company.

Interim management professionals are experts, highly skilled, trained and possess excellent managerial skills. Many of these professionals have being CEO or managing directors but have pursued a career in interim management in order to help businesses to grow. It is definitely a very lucrative career and provides stable job option which seems necessary by looking at the present weakening financial situation of the United States. These interim managers will also be in great demand even after this economic crisis is been over.

If your company is facing any financial crisis or management problems then being the owner of the company it becomes vital for you to act now to save your company and for this you can consider hiring interim management specialists. Try to negotiate with a specialist and sign a contract because still their services are inexpensive. It is not necessary that they are required only for failing business – in fact interim management can even help a company who is doing well in a long run and help in avoiding bankruptcy. Therefore, it is advisable to opt for interim management rather than taking unnecessary risks for your company. Thus, get in touch with an interim management professional and find out how they can help your company.

If You Can't Beat Them, Why Not Buy Them?

How can you tell if buying the competition is a good idea?

?        First, know where you stand. Take a good, hard look at your company’s bottom line. Make sure your company is financially sound enough to tie up that much capital.

?        Make sure your people have the skills and expertise to blend the two companies together.

?        Figure out why the competitor is struggling…and make sure you can overcome those issues after the acquisition.

?        Do your due diligence: research the company’s relationships with customers and suppliers. Check out the balance sheet and assets. Figure out the corporate culture. Kick the tires.

?        Figure out a step-by-step plan to merge the two companies.

Mergers and acquisitions can inject new blood, new customers, new capabilities and new ideas into a company—as long as the process is managed well.

Due diligence can go a long way in determining your course of action.

«Buy» for now,

P.S. If your due diligence says «yes, yes, yes!» but your bank balance says, «NO way!» call us at 954-510-0328. You may be surprised to discover how fast, convenient and affordable business financing from Shavit Funding can be.

How to get double interest on your savings account

If you are the kind who leaves a lot of money idle in your savings accounts, this news is going to make you happier and richer!

The Reserve Bank of India (RBI), in Tuesday’s monetary policy, made the regular repo and reverse repo rate cut announcements. These cuts are expected to bring down lending rates soon.

However, another key announcement that it made was the change in method of calculation of interest on your savings account. This change is effective from April 1, 2010.

Currently, banks calculate interest on your savings account as follows:

3.5 per cent per annum or 0.29 per cent per month on the minimum balance in your savings account between the 10th of the month and the end of the month.

What is a little unfair here is that interest is paid on the minimum balance in your account between the 10th of the month and the end of the month. But how many of us are left with large bank balances at the end of the month anyway!

While the rate of interest has been maintained at 3.5 per cent per annum, the good news is, that from next year, interest will be calculated as follows:

3.5 per cent per annum or 0.0095 per cent per day on the daily balance in your savings account.

If you can’t make sense of these numbers, allow us to explain.

Suppose your bank statement in April reads like this:

Date
Deposit (Rs)
Withdrawal (Rs) Balance (Rs) 1 April
    5,000 2 April
30,000   35,000 3 April
  4,000 31,000 5 April
  4,000 27,000 10 April
  12,000 15,000 13 April
2,700   17,700 18 April
  4,500 13,200 25 April
  5,500 7,700 30 April
    7,700

Now:

Under the current method, you would get an interest of Rs 22.46 for April, that is 0.29 per cent on Rs 7,700 (the minimum balance in your account between the 10th and the 30th of April).

Next year:

Your interest would be a handsome Rs 48.82 for April. That is, 0.0095 per cent everyday on your balance of that day.

Easily, your idle money is going to make you far richer!

That doesn’t, however, give you an excuse to leave your money lying idle in the savings account.

Disclaimer: While we have made efforts to ensure the accuracy of our content (consisting of articles and information), neither this website nor the author shall be held responsible for any losses/ incidents suffered by people accessing, using or is supplied with the content