General Articles

Your company needs to have a comprehensive insurance policy in place well before you open your doors to the public. Without the proper insurance, a single accident or injury could end up costing you huge sums of money. A solid policy is going to be your company’s first line of defense against a wide array of risks and liabilities.

Workplace Injuries

No matter how well-trained your employees happen to be, accidents are sure to happen at some point. When those accidents take place, you want to be absolutely sure that your employees are going to be covered by your company’s insurance. Your business insurance Orlando FL also needs to have a workers’ compensation rider. That type of coverage is a legal requirement in most industries, and you could end up paying huge fines if you don’t have workers’ compensation insurance. Depending on where your business is located and how many people you employ, you might need to offer your employees health insurance as well.

Property Damage

Practically every business insurance policy is going to include some type of coverage for property damage. Your policy will help you repair or replace company property in the event of vandalism, theft, or a serious accident. Most business policies also cover wind damage from major storms, but you will probably need to add a rider to the policy if you want water damage to be covered as well.

Legal Expenses

General liability insurance for businesses almost always covers legal expenses, and that includes attorney’s fees. If your company creates physical products, then you need to invest in product liability coverage as well. That form of coverage will help you pay legal fees if a product is defective or dangerous.

Your company’s insurance needs are going to change over the years, and that means you will need to revisit your policy once every few months. You might need to revise or upgrade your policy whenever you hire employees, purchase new equipment, or expand the scope of your business.…

As a business owner, the expenses sometimes seem to outnumber the profits. There are months when you feel like you pay more bills than you recoup. When you step back and evaluate what you’re spending, you wonder if it is all necessary. One area you may want to cut out is liability insurance. It isn’t required by law, and it would save you some money every month. Before you hit the cancel button, take a look at three reasons why your business is better with insurance than without it.

1. Your Building and Contents Are Covered

If you have a property and casualty insurance policy – the most common – then not only is your building protected but so is everything in it. When looking to cut corners, consider this: If you cut out your insurance and there is a catastrophic event like a fire, you may not be able to rebuild. If any of the equipment inside your building was leased, it will also not be covered, and you’ll have to pay those financing companies for the loss. Hang on to your commercial insurance lodi ca.

2. A Slip and Fall Is Covered

If a customer comes in and slips, your insurance will cover medical expenses and any litigation required. If you drop that insurance, you will personally be on the hook for the money. By cutting out a couple of hundred dollars a month now, you could end up losing your business, your home and all your assets down the road.

3. It’s Better To Be Safe

When it comes down to it, carrying business insurance is just like any other kind: It’s cautionary. It is a way to prepare yourself in case you need to use it.

Getting a good quote on business insurance is one step to making sure your business is protected now and later. When trying to slash your business budget to save money, make sure you don’t get rid of your casualty insurance.…

Fintech lenders with their technological platforms have transformed the dynamics of the traditional lending channels. The adoption of cutting-edge technology and automation has generated cost savings for the NBFCs, which has been passed on to the borrower. Thus, NBFCs are in a position to offer business funding at lower interest rates than banking channels. This is another reason why the interest rates on new business loans in India vary from lender to lender.

Each NBFC has certain pre-requisites, subject to the fulfillment of which the business loan is extended to the loan applicant. The complete fulfilment of these conditions automatically translates into a lower interest rate for the borrower and vice versa.

The following are the factors which can result in a lower interest rate for business funding:

1.       Credit Standing

The fintech lender is mainly interested in the repayment capability of the borrower. Hence the credit score is one of the fundamental aspects that are looked into by the fintech lender to determine eligibility to obtain a business loan. This in turn hugely influenced the interest rate. A minimum score of 700 is essential to be eligible for a business loan. In case of a healthy score of over 750, the new business loans would be extended on favorable terms with lower interest rates. However, even an average credit score need not necessarily result in loan rejection, if the financial performance of the business is good. To overcome the lending risk, the lender might charge a higher interest rate in such a case.

2.       Period of operations

Most fintech lenders insist on a minimum business operating period of 3 years. This is because lending to a new or a fledgling business unit is considered a risky proposition by lenders. This is largely because the business model is yet to be proved as viable or sustainable. Further, the unit might not be in apposition to generate significant revenues in a short period of time to assure the lender of its repayment capability. Lenders may charge a higher interest from a new business. On the other hand, just because the operations extend across a long period of time does not guarantee a lower interest rate. The lender would look into the stability of turnover and profitability aspects.

3.       Profits matter

Every business is ultimately conducted with a profit motive in mind. Regular and healthy profits help to obtain a business loan at competitive interest rates. The EMI payments are serviced out of the profits. It may happen that a small business is able to generate high profits within a short span of time depending on the revenue model. In such a case, the lenders would be willing to extend loans at discounted interest rates. Many NBFCs also mandate a minimum turnover limit of Rs 40 lakhs.

4.       Business fluctuations

Business cycles with a period of up and down are a given in every business. This results in fluctuations in profitability. However, some industries are prone to frequent volatility. The fintech lenders …

If you need a dependable tax business to help you handle all of your accounting, tax, and financial needs, Michael J. Berger and Co., LLP is a business that can help you. This is a full service accounting firm located in Long Island, NY.

Experience

Michael J. Berger and Co., LLP is a full-service accounting firm that has been in business for 39 years. The staff at this company are CPA’s and Enrolled Agents. The staff is required to undergo continued education to ensure they are up to date with developments in the accounting field. The staff members at this accounting firm are dedicated to their profession and are committed to personalized service. One of the main goals of this company is to help your business become more profitable.

Services

This accounting firm provides clients with a wide variety of services. Michael J. Berger and Co., LLP will provide monthly, quarterly, and annual postings of your accounting records. They will also generate in-house financial reports so that you can see how your business is progressing throughout the year compared to previous years.

Tax Preparation

This accounting firm also helps clients with tax preparation in Long Island, NY. They will prepare and review your tax forms and payments, vehicle mileage, fuel tax forms, and sales tax forms and payments specific to your company. The accounting firm makes themselves available year round to review these forms with clients. They will also prepare and review your W-2 and 1099 forms and submit them to the IRS.

Choose Michael J. Berger and Co., LLP For Your Tax Needs

The staff at Michael J. Berger and Co., LLP has the extensive knowledge and skills needed to help you with your tax needs. This accounting firm offers reasonable fees for the convenience of the clients they serve. Whether you need help with accounting, auditing, taxes, IRS representation, financial statements, or tax planning, you can guarantee that the staff at Michael J. Berger and Co., LLP will assist you. Choose this business for tax preparation Long Island NY.…

The Great Recession experienced last decade was the most recent example of how detrimental a substandard loan can be. In this event, lenders were knowingly allowing substandard loans to be issued to receive short-term profits. This liability was shifted from business to business in the form of collateralized debt obligations. Once homeowners were no longer able to service these mortgages, the entire housing industry collapsed seemingly overnight. To minimize the issuance of substandard loans, lenders must understand moral hazard and adverse selection.

Understanding Adverse Selection

Adverse selection in the lending environment occurs when the lender and buyer do not have access to the same information. A buyer desperate to receive funds may potentially exaggerate income or assets to throw off the lender. Since the lender is going off of the available data, they are usually the victims of asymmetric information. At times, lenders still loan out money with this handicap in play to capitalize on future interest revenue. However, lenders are not always successful with this practice and become victims of substandard loans.

Understanding Moral Hazard

While Adverse selection occurs before an agreement, moral hazard appears after a buyer and lender close on a deal. An example of moral hazard could involve a buyer having a drastic change in income and the ability to service the loan. Once issued, both parties are expected to uphold the initial deal. However, unexpected circumstance can create a substandard loan which must be written off.

Another example of moral hazard involves a sense of comfortability. A buyer can receive a loan for any number of reasons. For instance, the loan could be for a small business looking to expand its operation. Obtaining a loan at this stage in the industry can provide a cushion and tendency to overspend since more funds are accessible. Moral hazard and adverse selection are just two ways of sniffing out substandard loans.…

At the heart of every successful and functioning warehouse lies a planned-out system that combines the key aspects of storage and logistics. This is why the rack and shelving industry is reaching new heights – being an integral part of both.

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Racks and shelving for warehouses allow people to eliminate clutter whilst also maximising the floor space available in the warehouse. Boltless shelving and racking will also allow workers in the space to be safer and work more efficiently, a great booster for productivity in a business. In a warehouse all space is incredibly valuable and hard to find, so shelving and racking is truly proving its worth.

A New Safety Perspective

As the rack and shelving industry continues to rise, the focus has shifted more towards a safety aspect. Worker safety is a huge factor within today’s businesses, so picking out specific boltless shelving that has safety gates is one of the trends we can see today. These specially designed gates are put in place to protect workers from any sort of falling hazard. They also allow you to transfer materials safely on them.

More and more new features for shelving and racking solutions are available, including boltless shelving. These features can help protect the product you have on your racks. For example, there’s racking that is protected from damage that can be incurred by forklifts. It also prevents products from being forced to the floor through the back of the rack.

Moving Forward

As the industry for racks and shelving continues to rise, we see the need for more selective types of shelving from different businesses. Some warehouses are being built taller to hold more, and these spaces need much higher shelving. Warehouses that make use of forklifts are demanding narrower shelving to allow for faster movement around the space.

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It’s not just the structure of the shelving that has changed. Many businesses have moved away from the traditional warehouse arrangements and are changing to make the entire space work more efficiently for them.

More warehouses will be in demand as the year continues, so it’s important for companies to have the right shelving and racking solutions that are interchangeable to allow for growth and flexibility in capacity.…

When Brandon Stewart decided to make the move from the world of design to real estate, he understood how he’d need to brand his real estate agency as much as the places he was focusing on selling.

It’s crucial to keep in touch with people and let them know on a regular basis what it is that you do—especially for realtors—Brandon mentions. When it comes time for them to actually use your services, you will ideally be the person they think of first due to your consistent communication efforts.

Email marketing for real estate agents is one of the best things any marketing approach could include. With email marketing software, Brandon began producing a newsletter each month—and started sending it to his current clients. He soon discovered that by offering useful resources to existing clients, he has the chance to reach a whole new audience.

I found that if I created newsletter content that was extremely popular, people would distribute it themselves, he said. This has been invaluable. They post it to Facebook or share it with their colleagues and then their friends request a subscription. Each time I put out a letter, I find more subscribers have joined, stated Brandon.

With an email marketing software, Brandon easily inserts links and images he believes his audience is interested in. He has the ability to upload his own pictures and free up more time by sharing valuable knowledge from different trustworthy sources.

Emails have been a substantial reinforcement of the brand, Brandon describes. I receive calls from individuals I haven’t ever met on a regular basis. They see the newsletter—or one of their friends gets the newsletter—and they can see I’m the one to contact. It truly helps build credibility right away.

To boost his newsletter’s credibility, Brandon makes use of his email marketing software’s social sharing feature to post each email on his Facebook page immediately. Brandon has also recently used Facebook Ads for the first time to promote his newsletters to an even broader audience.…

Like every state, Texas requires restaurant and bar owners to get the proper paperwork in order to sell liquor or spirits. The process of getting that certification or licensing can be extensive, however. People who are not familiar with it may feel overwhelmed with what is required of them and may feel ready to give up before they complete it.

When you want to get the proper credentials to open your own bar or restaurant in the state, you may need some help securing the paperwork you need. You can go online today to hire someone who can help you pursue certification, proof of your business, and a liquor license in Dallas, TX today.

Retaining the Services of Knowledgeable Professionals

When you are serious about getting these credentials, you want to hire someone who has helped other clients like you. You do not want to entrust this process to someone who has never navigated for themselves or anyone else. You need the knowledge of someone who is intimately familiar with the process and can get you through it quickly and efficiently.

The organization has the staff on hand who can assist you in pursuing the proper credentials to get your liquor license. The people you work with from the business will tell you what proof of residency and experience you need to present to the state. They also will tell you if you need to submit proof of your identity to the state anytime during the application process.

Once the paperwork is submitted, you can expect the state to begin processing it right away. You could have your license to sell liquor, beer, spirits, and other drinks in a matter of weeks if not sooner.

Texas requires you to get a license in order to sell all kinds of liquor including spirits and beer. The process of getting these credentials can be extensive. You do not have to navigate it alone, however. You can hire people who have been through it before and know what it takes to get you the licensing you need to open and run a successful establishment in the state.…

Regardless of what area of a business needs to be cleaned, a clean space is important. This will keep both employees and clients happy. A clean bathroom will provide a sanitary and healthy area. Clean eating areas are very important for health as well. While it might be tempting to save money by having employees do the cleaning, a professional commercial janitorial company can make a big difference in how clean and safe an area is.

Bathrooms

The bathroom in a store or office is frequently used by many people throughout the day. Customers and clients may stop in here. Employees will use the bathrooms at some point. A clean bathroom will minimize the amount of germs and illnesses that are passed around. It will also present people with a picture of your business. Caring about the space that you are located in will reflect on your ability to run a business. Commercial janitorial services from a professional company will ensure that the products and skills are on hand to quickly clean and maintain this area throughout the day.

Office Space

While this is a more sanitary area of a business, the space where employees conduct their work should be clean as well. This will protect people from illness. You will also prevent infestation from rodents or bugs. Mice and ants will quickly find their way in if you have food or garbage laying around all the time. Garbage cans should be emptied daily, food should be kept out of work areas and surfaces should be wiped down frequently.

Eating Areas

If there are community eating areas in a building, these areas should be frequently cleaned. This prevents the spread of germs, bacteria and viruses. Small coffee nooks and kitchenette areas should be frequently cleaned as well. Garbage should be removed daily and old food should be removed and thrown away.

If you are thinking about hiring commercial janitorial services to clean your business for you, this is a great investment. It will attract potential clients, maintain a good reputation in the area and keep your employees happy.…

If you’re looking for a way to boost revenue, consider your average order value. This refers to the average amount a customer spends when shopping at your ecommerce store. Naturally, the larger the order, the more revenue you bring in. Here are some strategies to boost your average order value with little effort on your part.

1. Offer Free Shipping With Minimum Spend Threshold
Free shipping is a hot marketing tool, both during the winter holiday season as well as the rest of the year. But because you’ve got to pay for that free shipping, you want to ensure that you have enough profit margin on an order to do so. Your best bet? Set a minimum purchase amount to qualify for free shipping, such as $50.

If you use checkout messaging that encourage shoppers to add more to their carts (“You’re almost there! Spend just $8.61 more to get free shipping!”), you’ll inspire more customers to up their spend, even beyond that threshold number.

2. Create Product Bundles
Another strategy for increasing average order value is to create bundles of products that complement one another, such as makeup and a makeup bag, or baby clothes and a rattle, or even just multiples of the same product. Because the bundles have a price that is more competitive than buying each item individually, shoppers find it a good value.

For you, the perk is in boosting how much a customer spends with you. This is also a good strategy for introducing customers to products they might not otherwise have purchased, or getting rid of products that haven’t been selling well.

3. Use Upselling to Your Advantage
If you’ve ever been ready to check out with your purchase online and seen a “You might also like” suggestion with products you can add to your order, you’ve seen upselling first-hand. Amazon is king at this. Each product page lists products that are frequently bought together, as well as other purchases people who have bought this item have also made.

Stick to related products with your upsell. If you’re selling a Halloween wreath, your upsell might be a bat candle or witch rug. Your customer is already in the mindset of buying this particular type of product, so by appealing to her in suggesting other related products, you just might increase what she spends with you.

4. Leverage a “Before You Go” Offer
At the last possible minute, just as the customer clicks “buy now” in her cart, you can include a special last-minute offer for more of the same product or a similar one at a discounted price. She wouldn’t have known you’d offer this promotion when she first added items to her cart, but now she will consider buying additional ones since you so generously are offering her a last-minute deal.

For example: you sell packs of 10 handcrafted cards for $15, and a shopper is prepared to buy one pack. But as she nears completion of her purchase, you offer her …