By financen | August 2, 2019 - 3:09 pm - Posted in Business

Reading this post confirms that you’re interested in growing your business and being successful because it’s only in a business where, when both the employer and employees are comfortable that productivity can be maximized, and growth can take place.

HVAC stands for Heating, Ventilation, and Air-conditioning. It’s a complete system that ensures your business is being carried out in a comfortable and ambient environment.

If you’re wondering which HVAC system is more fitting for your office space in San Francisco, for instance, here are four basic types that you can consider for your business.

1.  The Split HVAC system

This system is found in most homes and small offices. Basically, it features an indoor unit that contains the evaporator coil, blower, and an outdoor unit that contains the compressor and condenser.

This system is thus, ‘split’ into indoor and outdoor units. In some office space San Francisco

designs, the indoor unit can be connected to a heat pump or a furnace.

Among the various components, it also has a thermostat that controls the function of the system and regulates the required temperature, which makes use of ducts for the transfer of air.

Other available accessories include air purifiers, scrubbers, and UV lamp humidifiers.

2.  The Hybrid Heat Pump System

This is an interesting system where the same appliance can either heat or cool the office. Apart from the conventional air-conditioning system, the heat pump is used with a furnace where fuel oil, propane, or natural gas is burned to create heat, and the air is transferred through ducts.

It’s quite possible for an office space has limited size or permission cannot be easily obtained for extra installations. Why have two burly machines when one can do the job?

3.  The Ductless Mini-Split Heat Pump System

This system does not use the duct mechanism, and is, therefore, the preferred choice in offices where ducts are not compatible. Alternatively, it can also be used to complement a ducted system. The ductless system is usually installed directly in the areas of the office that require cooling and heating.

Each outdoor unit supports up to four air-handling indoor units, and the components include wires, thermostat, and other accessories.

4.  The Packaged Heating & Air Conditioning System

As the name implies, this system comes in a complete package, housing the heat pump, condenser, compressor, and evaporator coils, amidst other components in the same unit. It’s usually placed on the roof or the ground. It’s considered to be the best option for offices with limited space for installing separate units.

In choosing the most suitable HVAC system for your business, you should go for energy-efficient brands with good Energy Star Ratings. It helps to look for a less noisy operation, programmable options, and durable parts, which is why you should seek expert advice from qualified personnel to make a better choice.

Apart from your budget, your choice could be limited by the original design and preferences of the property owner, which is usually covered in special clauses in the lease agreement regarding structural alterations that you need to abide by.

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Every company can experience cash flow problems from time to time. However, these problems more pronounced in industries that provide products instead of services, like retail, wholesale, or food. For this reason, entrepreneurs are compelled to take out loans, specifically inventory financing

An inventory loan, much like equipment loan, is a type of short-term loan that is granted to small business owners to help them stock up on inventory. In order to qualify, you must be in the industry long enough to secure a positive history of inventory purchase orders. Once you’ve secured the loan, the financial institutions would use your inventory as collateral in case you fail to pay your dues in time.

Small businesses can benefit from small business financing in the following ways:

1.    Provides Additional Liquid Cash

Businesses are often challenged with meeting the day to day expenses. Most times, a gap can come between the amount needed for expenses and daily sales. Inventory financing helps entrepreneurs maintain positive cash flow in their company. They can use their inventory as leverage and turn it into assets which can help in obtaining short period loans. 

2.    Product Improvement

With the intensifying competition of certain business types, creating a unique product that stands out is vital. Entrepreneurs need to keep up with the latest trends to prevent missing out on increasing sales and attracting new customers. Applying for inventory financing can help you get the capital you need for producing the new products.

3.    Keep Up With Seasonal Demands

A lot of seasonal businesses experience a decline in their product sales during a specific time of the year. For instance, a retail store that sells winter clothes could experience a slow time during the summer. But as the winter seasons draws close, they also need to stock up for inventory in preparation for their busiest time of the year. Inventory loans can help in financing when buying products ahead of time.

4.    Helps with the Sales to Make Business Grow

If your business is in retail, you know how expensive it is to buy a product in large quantities. With inventory financing, you won’t have to worry about this problem since you’ll be equipped with the right funds. With your shelves stocked up at all times, your business will be able to meet the high demands of the customers. You may even get your products at a discount if you buy in bulk.

5.    Prevents Cutting Costs on Some Areas

Businesses experiencing a slow time could cut up costs on some areas and focus purchasing inventory to meet the demands. As a result, some systems within the business could experience disruption. Inventory financing helps you stock up on products while allowing you to operate your business as usual.      

Inventory Financing For Your Business

Inventory financing can be a great alternative to bank loans. With careful considerations, it can provide the answers you need to keep your businesses running. If you’re looking to apply for an inventory financing, SMB Compass might be able to help. With our years of experience, we want nothing more than to provide our clients with the best terms possible. Learn more about us today. Call us at (888) 853-8922 or email us at info@smbcompass.com.

Helpful article: https://www.investopedia.com/terms/i/inventory-financing.asp

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By financen | May 9, 2019 - 5:41 pm - Posted in Business, Company

In the beginning, most entrepreneurs have no idea how (or if) their company is going to grow. They merely have an idea, a motivation to see their plan come to fruition, and an inkling that it can turn into something more.

As there are so many moving parts when it comes to starting a business — and generally only one or two people to manage those moving parts — there are some elements that get overlooked and pushed to the bottom of the mighty “to-do” list. This can be problematic when it relates to something as crucial as keeping your firm protected.

To help out all the entrepreneurs, even if you are just starting, here are three crucial steps to ensure you are protecting your company on all fronts.

1. Hire corporate lawyers.

First things first: From the get-go, you need to have some kind of legal representation. Too many entrepreneurs and small business owners overlook the fact that there are so many parts of their company that could potentially lead to legal trouble. Obviously, you don’t want this to happen, but it is still best to ensure that you are covered in case it does. Should you find yourself in legal hot water, you will thank yourself for having this foresight.

Even when setting up your company, there are common scenarios in which it is best to have professional legal advice. These scenarios include when you are choosing a designated legal entity, writing up an agreement among founders, signing contracts and leases, and raising capital.

Generally, when it comes to hiring legal help, prevention is better than cure. This means that it is highly recommended that you reach out to top law firms in Dubai (or wherever you reside) as soon as possible so that you can get accustomed to them, and vice-versa.

2. Protect your intellectual property.

Another aspect of your business that you want to protect from the get-go is your intellectual property; otherwise, you won’t have anything that differentiates your company from your competitors. After all, your intellectual property is what makes you unique and is at the very core of what makes your products or services innovative and different. So why would you not do everything in your power to ensure it remained your own?

Generally, there are three types of intellectual property protection (trademarks, copyrights, patents) which are each applied to different aspects of your intellectual property.

Trademarks cover logos, company names, phrases, and symbols. Copyrights safeguard original works. Patents protect manufacturing or design processes.

Whether your company requires one of these protections or all three, the critical matter is that you take the steps necessary to protect them. As these protections don’t necessarily extend around the globe, when you are going through the process, make sure to think about which areas of the world you plan on selling your goods and services to, so that you can be proactive in filing for those locales, as well as with a GCC patent or something similar.

3. Guard your data.

In 2019, you need to be on high alert when it comes to protecting your firm’s data. Cybercrime is a significant threat to all kinds of businesses, and it is up to you to make your data as secure as possible.

Start by using an email encryption and security solution that ensures the intended recipients can only read your messages.

Additionally, work on crafting and establishing a security policy so that everyone involved in the company (even if it is just a couple of people) is clear on how to correctly handle company data.

Furthermore, within this policy, do regular due diligence with the firms that store your data. Ask them about their security standards and procedures and ensure that they line up with yours.

Finally, make sure you are continually updating your systems and software so that they are running the most up-to-date versions. Also, regularly back-up crucial information and data so that you will still have access to it should your computers or emails become compromised.

What steps are you taking this year to protect your business? Is there anything you wish you had done sooner? Let us know your thoughts and experiences in the comments below.

AUTHOR BIO

Sharon Danso-Missah is the Head of Marketing at Al Tamimi & Company, the largest law firm in the Middle East, with 17 offices across nine countries. Established in 1989, they are a full service commercial firm combining knowledge, experience and expertise to ensure all clients have access to the best legal solutions that are commercially sound and cost effective.

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By financen | December 15, 2018 - 5:38 pm - Posted in Business

You have a great idea. You are ready to change the world with your plan. You are going to launch this great company in Dubai!

Slow down one second.

Before you go ahead, read on for three essential things to know before starting a business in Dubai.

1. There are plenty of benefits to starting a business in Dubai.

Just in case you weren’t aware of the multitude of benefits thataccompany the decision to start a business in Dubai, here is a rundown of fourof the most compelling reasons.

  • Tax advantages: Dubai does not have income tax, corporate tax or personal tax. Additionally, the Emirate does not implement any foreign exchange restraints or trade quotas.
  • Ability to have 100% foreign ownership: Unlike many countries in the world, the UAE allows 100% foreign ownership of companies, meaning you don’t have to find a local partner to have 51% ownership.
  • Total anonymity: Dubai doesn’t require any business to have public records of their directors and shareholders. In fact, as the government of the UAE endeavors to have an economy that is as open as possible, there are very few rules that interfere with business.
  • Flexible banking options: One of the main reasons Dubai is such a hub for international trade is because foreigners are able to efficiently and quickly open a corporate bank account that holds multiple currencies.

Each of these benefits is significant on its own; however, when youadd them together, they create a scenario that is incredibly appealing for manybusiness owners.

2. There is a new value-added-tax (VAT).

If you are looking to start a business in Dubai, it is essential that you are aware of the new VAT that was implemented this year. The new VAT is small compared to that of most developed countries (5%) and has been designed with the goal of aiding the government of the UAE in formulating a sustainable knowledge economy for the future that is less reliant on oil.

VAT is standard in most countries in the world and, usually, the amount of added VAT is determined as a percentage of the retail sale price of a product.

In the UAE, VAT is being added to the bulk of consumer items that are deemed as being a part of discretionary spending. Examples are electronics, automobiles, clothes and accessories, food and beverage, and entertainment.

Depending on the type of business you are looking to open in Dubai, you may have to look into VAT Registration. If your company creates taxable goods or services and has an annual turnover of Dh375,000 or more, then VAT Registration is mandatory.

To ensure that you are not going to find yourself with a lot of tax penalties, make sure that you know how to register for VAT and that you are completing the necessary paperwork within the appropriate time frame. 

3. You will find a welcoming hand for expats.

Dubai is mostly comprised of expats (90% of the population are fromelsewhere) which means no matter where you are from, you are going to feelwelcome. Plus, by opening a business in Dubai, you are in a position to easily obtain a UAE residencyvisa allowing you to rent property, enter and exit the country whenever youdesire, and become eligible for a Schengen visa.

This means you can be assured that you are going to find other people who havebeen through what you are about to embark on. If you are still concerned aboutaspects of setting up shop, then speak with the bestcompany formation service in Dubai.

By working with a company that has set up plenty of businesses, you can sleepwell at night knowing that you are receivingprofessional guidance through the necessary business setup, registrationand licensing procedures in the UAE.

You want to make sure you are getting everything done thoroughly andappropriately from the get-go so that you can set yourself up for success withyour new venture.

Are you contemplating starting a business in Dubai? What is standing in yourway? Let us know your thoughts in the comments below!

AUTHOR BIO
Raj Herry is the Founder and Chairman of Flying Colour Business Setup Services. His extensive experience comes from more than 15 years in the field of company incorporation for Dubai Mainland, all Free Zones across the UAE and offshore companies worldwide. He also owns several business centres offering furnished and ready-to-move offices in Dubai.

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By financen | October 26, 2018 - 5:48 pm - Posted in Business, Small Business

Office-decorating-ideas

We live in a world where aesthetics are every bit as important as practicality and functionality. Interior design and tasteful décor have become so commonplace that almost everything that is successful is pleasing to the eye!

The problem arises when we try to decorate the office on a budget. A small business that has started anew cannot possibly spend a fortune on décor. While chairs and desks are all necessities of office space, we need to find some hacks to make everything look beautiful without spending too much money. If you keep a tasteful approach, you will find that the process isn’t too tricky:

Picking out a good Color Scheme

When it comes to rating any room or space, the first thing you must consider is the color scheme. The color schemes you can choose for office spaces are usually quite limited. For example, many people opt for pure white walls with contrasting furniture in colors like black or brown. Some people like to go a little bit bolder and choose light or pastel colors and paint them all over the walls to give a chic, monochromatic look. Choosing dark or bright colors for office space is usually not a great idea.

Keep it Minimalistic

Décor these days is all about minimalism and sleek furniture. You do not have to cramp your small office space by adding large sofas, a huge coffee table, a big chair, and a bulky desk. You should only go for the minimum when choosing furniture. So you can save quite a bit of money while keeping things trendy. Make sure whatever you choose is sleek though!

Add Some Natural Light to the Mix

We cannot emphasize enough on how important it is to have a window or two in your office space. Many people agree that natural lighting is the best kind of lighting there is. Letting a little bit of natural light enter your workspace can be refreshing for the whole environment. Your workspace will no longer look dull and dreary; in fact, it will usually look quite inviting. It can even add quite a bit of splendor to your décor!

Get a Desk Organizer

A neat workspace is an aesthetically pleasing workspace. A desk can help you out in many ways. Without a desk organizer, it is highly likely that your desk will remain cluttered with items like stationery. When you go to look for items that you need to work within these places, you end up creating a larger mess, and it takes you forever to find what you are looking for.

With a desk organizer, it will be easier for you to get rid of this clutter. You can also wrap up by the end of the day without having to improvise spaces to keep stuff in. Some desk organizers even come with cable drops so you can organize all your cables there so that they do not look jumbled up and ruin the look of the office.

Another quick hack is to use monitor arms to suspend your screens. With this, you can easily claim but a lot of space on your desk (rather than have it occupied by the base of the screen).

Make Sure You Have Enough Storage

Storage space is also of utmost importance in all office spaces. There are many items that you do not need on a daily basis that can go in these spaces. They make the entire place look clean and organized, and a clean and organized space can be all the décor you need sometimes.

Storage spaces also make it easy for you to wrap up at the end of the day because you know where each item will go. You might also want to label each space so that only the designated item goes there, which will help you look for things when you need them.

Keep the Lighting Sharp

Another concern of utmost importance is that of lighting. Make sure that the artificial lighting in your office is up to par so that the place can look vibrant and welcoming.

The best option is that of ceiling lights because they distribute the light across the room evenly. At times, they also make the room appear bigger.

You can also place some lamps around the walls to emphasize smaller areas of the office, so even they look bright and inviting.

Office-decorating

Get Indoor Plants

Even though indoor plants are not exactly a necessity in an office environment, they are highly useful and pleasing to look at. Plants are multifunctional, they clean the air and sometimes even freshen it and humidify it.

Some research has also shown that working around greenery can improve your productivity. Since you cannot work in a park or a garden, office space is good enough too.

One of the best aspects of indoor plants is that they are super cheap. So you can spice up the décor in the office without putting a dent in your pocket.

Author Bio:

Hannah is an interior designer by profession, and she knows all the ins and outs of using the right quality of the furniture and accessories for home decor and workplace. She is also a blogger who loves to write about the home and office maintenance tips and tricks. Read more about her posts at ergoedge.co.

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By financen | September 20, 2018 - 4:31 pm - Posted in Business

Business Owner

Everyone who ever thinks about starting something for themselves is naturally full of hopes that they can make a big break. The amount of revenue is the most significant determinant of success for any given company. However, to achieve it, one must make an effort and possibly overcome many obstacles.

Indeed, there is a lot that can go wrong with managing a firm. Financial hardships, trouble with laws and regulations, recruiting talents, protecting data and patents, public relations issues and so on, there are many factors to keep track of and challenges to overcome. Even the overall economy fluctuations and new trends can disturb the main course. That is why it’s always good to prepare for the worst-case scenario, including going broke. The crucial part in making sure this doesn’t happen is to have a unique idea. Whether it is a superior product, useful service or an unusual solution to some known problems, a new way of thinking about things has the potential to be transformed into a money-making enterprise. And thanks to technology, there are more methods to come up with new concepts, though it can sometimes be hard to keep up the pace.

Unless you have an instant hit on your hands, starting something by yourself isn’t easy. For starters, an entrepreneur must be a little adventurous and make bold choices. The visionaries who changed the world and made millions in the process often had to swim against the current. But even their audacious decisions looked more like calculated business risk-taking than going all-in and hoping for the best. Indeed, the difference between triumph and failure may lie in avoiding taking too big of risks. Therefore, understanding, to the highest possible extent, what can or cannot be done without jeopardizing the whole operation is a trait of a good businessperson and can potentially generate significant rewards.

Managing a company, however small, isn’t the simplest task in the world. Your worries do not end even if you’re doing well. There is always room for improvement, which is what you should remember. In the end, implementing and adjusting growth strategies is always on the mind of entrepreneurs who are concerned about the big picture.

By financen | July 17, 2018 - 3:29 pm - Posted in Business

Follow these important tips for your business website.

  • You can make your business website look innovative by posting a video on the homepage. Your website will look superior from your competitors. It will be interesting to post a short sweet explanation about your product in the video.
  • Business owners should post their picture on the website in order to build trust among consumers, especially women consumers because they will like to see the person who they are dealing with.
  • It is important that your website should reflect who you are targeting.
  • You should post consumers testimonials with pictures and name on your website. Many people will be able to relate with it.
  • Check the technical aspects of your website and make sure that it is getting properly displayed on most of the browsers and smart device platforms.
  • Keep a check on the performance of your website regularly like you will check your profit and loss statement.
  • Have a website update or overhaul at least every two hours. Your business will change and keep your website in fashion.
  • It is interesting to have a blog on your webpage. You will be able to give valuable information, educate and gain trust leading to a good conversion. Relevant keywords are important for SEO rankings and lift your website at the top in the search results.
  • A good website should be easy to understand and navigate.
  • Have a good website developer.
  • You can use your website for business efficiency, if you are getting a common query then put it on your website and put an outgoing link to the next enquiries. It can be used as a digital catalogue.
  • Align your website with social media websites like Facebook, Twitter and Linkedin. You can display your website content through all social media avenues.
  • If you don’t have the technical knowledge about how to boost up your website, it is advised to hire a professional who will take care of it.
  • Target the correct keywords. You can do your research on Google keywords tool and then use the best ones on your website pages and posts.

Things that you should NOT be doing on your website.

  • There is nothing worse than an outdated website that was last updated some ten years ago.
  • Try not to cram everything you do on, reduce the focus on key target message. It is advised to remove low value or non-core targets.
  • Don’t waste your money by hiring a bad website developer. A website developer looks after the programming and coding of your website. So a developer with very little knowledge or experience will be a wastage of your time and money.
  • Many young business owners depend heavily on website for their product promotion. They think it will automatically bring in new customers, but this is not true. You have to use other marketing strategies to promote your product.
  • Keep a check on the content of your website. Avoid broken links, spelling mistakes and pages under construction. This will divert the visitors from your website.
  • Improve the conversion ratio of your website. If you don’t have enough knowledge about it, seek professional help.
  • Don’t be a business that does not back up their website. Hacks and damages can occur.
  • Don’t post only texts on your website. Adding pictures, links and videos will improve the look and quality of your website.
  • Don’t just depend on online leads. Offline leads and referrals will also be a good resource
  • Avoid legal issues. Make sure you meet consumer guidelines and industry guidelines.
  • Without knowing your target client, there is no point in building your website.
  • Don’t spend money for attracting traffic to your website until your website has the potential to convert.
  • Don’t spend money on auto responder software which delivers automatic email series to prospects.
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