AC Interpreting

Because of the recent ineffectiveness that prevails with commercial banking, working capital financing can no longer be taken for granted by any business owner. Some common advice for many complicated problems is often a variation of “it is time to get back to the basics”, and working capital loans represent an ongoing illustration of this wisdom for small businesses. Working capital management is the science and art of short term business cash management, and improvements in this area should always be welcomed by commercial borrowers.

Ensuring adequate business cash flow has become a higher priority for most businesses because of declining sales occurring simultaneously with decreased bank financing availability. In one common occurrence, borrowers are likely to attempt to juggle the timing of expenses whenever possible in an effort to match receipt of business income. Business owners will realistically be forced to “get back to working capital financing basics” because this is not an ideal solution under any circumstances.

A primary alternative for any business to explore in their efforts to deal with a mismatch of income and costs is business expense reduction. Credit card processing is a significant cost to evaluate. This is frequently an expense area that is overlooked because the credit card processing provider was chosen for convenience or perhaps because they were recommended by a banking or other professional relationship. Analyzing alternative providers in conjunction with obtaining a business cash advance is one of the most practical methods for reducing this cost. By combining efforts to obtain additional working capital (via merchant financing) with a change of processing services, a dual cash flow benefit can be achieved by receiving commercial financing while simultaneously reducing a major cost. For anyone who might say that this is easier said than done, please understand that this whole process should be undertaken with the ongoing assistance of a business financing expert who routinely accomplishes these transactions.

Looking at whether it is feasible to reduce overall bank financing is another potential cost reduction. For almost every conceivable commercial finance service, many banks are increasing their fees. To avoid some of the bank fees altogether, businesses should increasingly try to reduce their business debt levels. When this is not practical, the possibility of firing the current bank and replacing them with a new bank (and more appropriate fees) will need to be emphasized.

In reviewing working capital basics, small business owners will quickly realize that the most effective commercial funding sources have changed during the past two years. The more active role that banks have traditionally played in providing both working capital loans as well other forms of commercial loans has been quietly stopped (or significantly reduced). Commercial borrowers might need to be alerted that there are both “new basics” and “old basics” for most working capital management situations, and this is the rationale for making the last observation. The entire process of reviewing “working capital basics” will help businesses realize how other business financing options are likely to be more effective in resolving their predicament than the traditional bank solution of taking on more business debt to resolve the described problems.

Among the best graduate jobs in the UK are graduate Finance jobs and graduate jobs in Accounting. Commerce degree holders have a large pool of employment opportunities waiting for them. There are plenty of these graduate jobs that they can go out and hunt for. Whether they have taken up Mathematics, Economics, Accounting or Statistics in their universities or colleges, they have already revved up their chances of landing a job that will secure them a more or less stable financial status and a promising career.

Despite having a large option for employment, however, job seekers should acknowledge that the hunt for the best professional or graduate job in the UK is getting tougher and tougher. The number of qualified candidates is soaring, which makes the competition even fiercer. The key is for you to look for the right job for yourself where you can use your qualifications on the job and then later on advance to the kind of career you have always dreamed of.

The UK has the best graduate finance job opportunities. Those jobs are even found in some of the largest and most established financial companies all over the world – Bank of America, Capital One, Barclays Capital, Credit Suisse, Fidelity International and Edward Jones Limited, to name some.

The job openings from these companies vary. Below are some of the best graduate jobs in Banking and Finance in the UK, and their primary responsibilities:

1- Financial Managers – provide financial advise to clients;
2- Stockbrokers and Traders – on behalf of the clients, stockbrokers and traders invest on various financial products;
3- Corporate Treasurers – they are in charge or improving and maintaining the finances of the respective companies that they are working for;
4- Investment Bankers – they are financiers for different companies, institutions and even government agencies;
5- Commodity Brokers – they buy and sell physical commodities;
6- Investment Analysts – they do the research and they gather information on investment opportunities for the Fund Managers;
7- Investment Fund Managers – getting the information they need from the Investment Analysts, they then assist their clients and give them advise on where to invest their money.

Before applying for a graduate job in the UK, you must first spend a lot of time on research, gathering as much information as you can to find out which of these career options is the best for you. Take the time to review each job’s description and responsibilities in order to make you decide whether or not you are capable and willing to take the job. Chances are, there might be one or more of the job opportunities mentioned above that attracts you. If you are still undecided, you must try to asses yourself and your qualifications, and find out which one would be the best for you. If the excitement of buying and selling physical commodities attracts you, for example, then you might be picturing yourself as a Commodity Broker. Or, if you wish to help people invest their money, an Investment Fund Manager position is probably the best for you. There are more graduate banking and finance jobs in the UK that you can apply for. All you have to do is look.

A large number of graduates of Accountancy and Actuarial find themselves taking jobs in public accounting firms. These jobs are paid internships that give the employees a great chance of gaining good experiences by working with different local agencies and companies. After gaining as much experience as they can in the field, helping out clients prepare their taxes and file their tax refunds, most of these employees make their way to advance into higher or principal positions. In order to do that, however, they must acquire a Certified Public Accountant (CPA) license. However, the best accounting graduate job is still to become your own boss. A lot of Accounting graduates and CPA’s all over the world put up their own accounting firms after years of public service.

Do not allow yourself to get disheartened or confused when job hunting. Get your spirits up and take the whole race as a great learning experience. The options are endless for you and your fellow Commerce degree holders. The key to having the very best graduate job in the UK is looking for something that you imagine yourself doing. Ultimately, the decision is yours.

Do you have a networking strategy? Does your strategy involve more than just making contacts? If you answered “No” to one or both of these questions, it’s time for a “Networking Check-Up.”

Just as location, location, location is the key element in real estate, networking is the key ingredient in any business development plan. Whether your business is large or small, a start-up or one with a long-history, for-profit or not-for-profit, networking, networking, networking is the key to business development!

Sounds simple, right? Why then do so many people struggle with networking events? Why do people find it difficult to introduce themselves to strangers and make small talk at social events? Successful networking involves more than just making contacts. Making contacts is more than just attending networking events and collecting business cards. It’s all about the people-to-people connections!

Turning small talk into positive business-talk depends on developing and following a strategic networking plan to fit your career and personal goals. There is no one-size-fits-all process. Your strategic networking plan begins with a positive attitude and an honest look or “check-up” (self-assessment) of your networking skills. It will be as unique as you are.

Your personal networking plan will be designed to maximize your personal and professional strengths – and your own networking style! According to author and networking guru, Nancy Flynn, some key areas to think about include:
- Goals – Your reasons for improving or enhancing your networking skills
- Contacts – Your access to the “right people” at the right time
- Personal style – Your comfort level and listening skills and the impression you make
- Tools and techniques – Your experience and comfort level with publicity, public speaking, e-mail, and other networking tools
- Resources – Your ability to devote time, energy, and financial resources to networking and career development
- Etiquette and netiquette – Your know-how and savvy can make or break the deal
- Challenges – Your personal and professional development areas
- Commitment – Your desire to succeed and willingness to follow through

Most likely you already have some networking skills and will discover other areas that need to be explored or fine-tuned. It’s important to clarify your networking needs and goals and be realistic as you look at your strengths and development areas. Breaking your “check-up” into the following key target areas will help you easily determine what needs to be explored, developed or fine-tuned:

1. Identifying Focus & Setting Goals (Include appropriate networking events and activities in your business/marketing plan)
2. Relationship-Building Skills (Need a professional skills coach?)
3. People Skills (Attend a local workshop)
4. Networking Tools & Techniques (Join a networking group to learn from others)
5. Networking Challenges (Be honest with yourself – there are ways to make it work)

Once you have completed your “check-up” and have determined your personal plan, you are on your way to becoming a successful networker! It’s about taking the time to invest in yourself and your business. You will learn to start and grow relationships with people who can open doors, make introductions, advance your career and help build your business by establishing long-term, reciprocal relationships with the “right” people.

Who are the “right” people? They are not necessarily the wealthiest, most powerful, or most senior executives in town. Surely, these people are good to have as a part of your networking strategy. Just remember to include all types of people who understand how the networking game is played and are willing to help you get into the action.

If you look at networking as a “two-way street” – a giving and receiving tool – your success as a receiver will be as great as your generosity as a giver. Like a smile, give it away, and it will come back to you in ways that you’d never imagine.

Here are a few tips that work for me:
o Be generous with information
o Share your contacts
o Help people help other people
o Do favors
o Ask for help
o And most importantly, thank those who have helped you!

When you do, you will find people will be ready and willing to open doors, offer tips, make the introductions and connections for you in return.

Positive business-talk reinforces the fact that people do business with those they know, like and trust. Networking is positively the best way to reach out and hold on to people who can make things happen – in a fraction of the time it would take you to accomplish the same goals on your own. As noted by the Society for Human Resource Management, 95% of human resource professionals and job seekers claim networking is the most effective tool to locate job candidates or secure a job.

Who’s in your networking circle? Cast a wide net to include family, friends, co-workers, alumni groups, teachers, students, chamber members, civic and professional organizations, just a few of the many possibilities. Becoming a successful networker does not require being the most extroverted person in town – people skills can be learned. It does require focusing clearly on your career and business goals and implementing a networking strategy to take you there. By pursuing only the networking activities, business relationships, and professional skills that will move you closer to personal, career and business success, you will make a Positive Impact on the lives of others and the communities you serve.

Invest in yourself with a networking check-up! Go out of your comfort zone! Connect with people as much as you can! As the phone company used to say, reach out and talk to someone! Turn small talk into positive business-talk!

It’s no secret that generating publicity via online news release sites is good for business.

Continually educating the public and media about what’s happening with your businesses is, well, just good business.

My challenge to clients I work with is to not only submit news or press releases to both paid and free online sites, but to also follow up with any businesses or people who are also involved in your release.

Let me explain. When you craft an effective news release, it’s important to include relevant and timely topics about your business that tie in with other news. This means incorporating relevant information about businesses and organizations that are already well known or newsworthy.

Here is a very specific example. In November of 2006 I invested in a new program via Glazer – Kennedy Inner Circle. Bill Glazer created a certification program for copywriters called Creating Copy that Sells.

After speedy completion of the program and receipt of certification, I verified that I was the first professional copywriter in Idaho to complete the certification. Then, I drafted my news release. I submitted it online and I also let Glazer- Kennedy know what I was up to keeping in close contact and providing them with a copy of the release just in case they might need it for something in the future.

This communication with Glazer-Kennedy paid off. In July, they contacted me to confirm that it was okay to include my press release in a sales letter for the program that was mailed to the entire Glazer-Kennedy list.

Of course it was OK. In fact, it was better than OK! My name, business name and contact information was included and I have received several referrals from that. It truly is a win win situation for Glazer – Kennedy and me. They received free publicity for their program and in turn were able to include my information in sales material as an example of how to leverage certification.

My point is, don’t view your news releases as a one shot deal. Figure out ways to expand their shelf life and follow up. What are you waiting for? Press on with your news to help increase referral flow.

Oh, and it you want to read the original release and listen to a pod interview, click here.

The easiest way to start your own business without investing cash is by reselling website development services.

Computer industry experts foresee the worldwide Internet population to reach 2 billion in 2011. With more people getting online, you can expect an increasing demand in website development services as well. Your potential clients will include offline businesses and establishments as well as professionals who can grow their offline incomes using their own websites. Individuals like politicians, celebrities, artists and almost everyone would like to have a personal website as it has become as ubiquitous as the email address and mobile phone number.

Advanced Solutions

Creating a website these days is not as difficult as back when computer geeks and technowizards were the only ones who could whip up a decent web page. When speaking to clients you may still have to use basic webspeak as part of your sales talk, your website development wholesaler takes care of the hard part—building your client’s website. Your website wholesaler should be able to create anything from simple and clean web pages to optimized and e-commerce ready websites.

Profit Margins

Wholesalers of website development services generally offer good rates to resellers because their strategy is to reduce their margins in order to increase their volume of work. This arrangement enables the reseller to earn a good profit by passing on the service to the end user at a price higher than the wholesaler’s.

Repeat Sales

Every business needs its own website and most end users have more than one business. By offering competitive prices and excellent website development services, it is easy to sell more than one website to each client. The more websites you sell the more profits you make.

Super Fast Websites

To succeed in reselling website development services, price, quality of service and prompt delivery are crucial. Most businesses do not mind spending for a top-notch website for as long as it is built fast and is easy to use. The key to reselling is in choosing the right wholesaler. Look for a highly competent team of web developers who use state of the art software and technology to build websites that really work for their owners. They should offer flexible website development packages at prices that allow you to resell them at double or triple the price to end users. They should offer a fast turnaround as well— Building a website in two weeks is possible once you provide them with all the materials and information that they need.

In trying to comply with tax laws for your e-business, you may find yourself falling down the rabbit-hole, going through the looking glass, and attending a Mad Tea-Party.

Common sense, logic, and fairness never did apply fully to the field of taxation but this is especially true of e-commerce transactions.

1. Welcome to Canada!

Since I’m located in Canada, let’s start here.

Canada has what you might call a national sales tax or a value added tax (VAT). This Goods and Services Tax (G.S.T.) of five percent (as at January 1, 2008) is applicable to many Canadian transactions.

Not only is it critical to determine whether a taxable sale was made in Canada or not, but also where in Canada. If it was made (or deemed to be made) in any of the Harmonized Sales Tax (H.S.T.) provinces (Nova Scotia, New Brunswick, and Newfoundland and Labrador), a higher, thirteen percent H.S.T. rate applies (as at January 1, 2008). This is because those provinces have allowed Canada to collect their provincial sales taxes for them.

As well, each province and territory has its own rules. Ontario charges eight percent retail sales tax on many typical Internet transactions whereas Alberta has no provincial sales tax.

Of course, this is only scatching the surface. This entire article is an over-simplification of a very complex subject. You will definitely need professional advice to help you through E-Commerce Taxland.

2. When Exports Aren’t Exports

In Canada, exports are “zero-rated” sales for G.S.T. purposes. This means that when you ship a product to someone outside Canada, you don’t charge G.S.T. Yet, you get to claim (or deduct from the G.S.T. collected by you) all the “input tax credits” (G.S.T. that you paid for business purposes) to make that export. The idea, I suppose, is to encourage exporting.

However, if you export products other than tangible, physical goods, beware! There are many pitfalls to watch out for.

As one example, consider digitized products that you might sell from your Canadian website, such as e-books, downloadable software, or subscriptions to content. You would be considered to be selling “intangible personal property”. Unless your product is also considered “intellectual property” (such as software or e-books that you produced or have obtained the rights for), you will have to charge G.S.T. The reason why, according to the Canada Revenue Agency, is that it COULD be used inside Canada, even if it isn’t.

Say you sold a membership for accessing digitized content (from various sources) on your Canadian website to a customer in the United States. Since there are no restrictions as to where the intangible personal property may be used, and the property is not considered intellectual property (nor the provision of a service), the American customer is subject to G.S.T., even if he never comes to Canada.

Strangely, the same logic doesn’t apply when an American buys a regular book (or a car) which he COULD bring into Canada with him and use here. It is true that it is easier for Canada to assess such items at the border than in cyberspace, but I know of no cases of Americans being taxed on the books or cars they bring with them when they come to live in Canada for about half the year.

As a Canadian registrant, one way you might legally avoid this silly March Hare is to explicitly state on your website and invoice that use of such intangible personal property in Canada is prohibited (or requires an additional fee and the payment of G.S.T.).

3. When Imports Aren’t Imports

Goods shipped to Canada are subject to G.S.T. on importation. Such tax is often assessed at the border. But what if you are a Canadian registered for G.S.T., selling to a Canadian customer but your supplier is in a foreign country?

Pretend that your Canadian customer has bought a book from you from your Canadian website. Your drop ship supplier is located in the United States and is registered for G.S.T. You fax your order to the American company, and they, in turn, ship the book for you (complete with Customs Declaration and their G.S.T.
Business Number).

Since they paid the G.S.T., you wouldn’t think you would have to charge it again, would you? “Wrong!”, smiles the Cheshire cat. Since you are a registrant located in Canada, you are required to charge and remit the G.S.T.

But you are entitled to input tax credits, aren’t you? In many cases, the answer is “No”.

It may be very difficult for you to satisfy the documentary and other technical requirements. As an example, it is not uncommon for American suppliers to absolutely refuse to give an invoice breaking down the G.S.T. or to allow you to be the Importer of Record. This complicates their life unnecessarily and they just don’t need the aggravation.

There are relieving tax provisions covering drop shipping, sales agencies, and other situations. In many cases, unfortunately, the most practical solution is to allow the tax to be paid twice.

4. When You’re Subject to Tax Where You’re Not Subject to Tax

It makes sense that countries impose a tax on sales and income made in their own jurisdiction. But does it make sense for Germany to tax sales made in the United States?

In effect, starting July 1, 2003, the European Union has done just that by imposing an online sales tax. This means that if someone from England buys an e-book from someone in the United States, the American should submit this tax. Of course, If the sale was to someone in Germany, the tax rate would be different.

The rationale behind this follows: Since countries can’t collect sales tax on Internet transactions at their borders, the only way they can collect it (other than a self-assessment system) is with an online sales tax. Further, it is claimed that businesses in the European Union suffer a major competitive disadvantage because they have to collect Value Added Tax (VAT) but others don’t.

I know what they mean. Welcome to the club!