Enjoy Your Journey To The Fullest With A Travel Cover

Traveling helps you gain new experiences of life, it displays the tradition and custom across the world. It refreshes you from the everyday hectic schedule. The trip will surely give you a new dimension of life. Obliviously, whether you travel with family or alone, business trip or government job purpose, you want the trip to be fun filled and with ease. What wants to encounter trouble while travelling distant countries, cut off from your familiar surroundings? For a moment there will a panic button pressed in your minds. However, unexpected situations do come up and you have to be prepared for them. Accidents, illness, theft, an emergency situation like flight delays, riots, terrorist attacks at the airport might erupt anytime and so you have to be planned to face such situations. To avoid such as unwanted situation and stay financially equipped to combat it, owning best travel insurance would be the masterstroke.
The article discusses some situation that will make you realize how travel insurance can be handy:
Accident/Illness
While nothing may go wrong, but if something bad were to happen you may suffer an injury else fall critically ill due to bad weather as such and needs to be hospitalized. Imagine the costs that would incur on medical treatment in the foreign country. It will make a huge hole in your pockets. A good travel plan will just help you to take care of such contingency and a major portion of your medical expenses will be covered.
Financial Emergency
In case your hotel room gets burglarized, wherein you get robbed or baggage is stolen, then obviously you cannot travel as your passport important documents were kept inside. The result would be you would have to stay for few extra days. Naturally, it will incur costs to protect you from this unexpected financial hit, your policy will provide assistance for these incidents. Your financial emergency assistance will also help you during a loss of travel funds.

Personal Liability
Many times accident happen unexpectedly, you may not be the victim but could help liable for damage or injury caused, in that situation. The mishap is as such that resulted in injury to someone or damage to someone’s property. At such point of time, your Best travel insurance will come to your rescue. It will take care of third party liability cover and make your free from any form of tension during your journey giving a peaceful and enjoying experience.
These day online sites offer travel insurance policies with varied benefits and features. You can visit the comparison sites and compare them in terms of benefits & features, claim settlement ratio, terms, and conditions, etc. and then go for suitable purchase.
Purchasing Best travel insurance online is all about providing travellers an ideal cover against financial emergencies and uncertainties right from the comfort of your home or offices. However, certain factors which one should look for while zeroing the policy would be:
Covers entire patient hospitalization along with daily allowance
Personal accident covers in case of permanent disability/death
Cover for contingencies related to personal possession
Cover baggage, documentation visa or passport loss
Covers Expenses related to trip delays/ hotel accommodation, trip cancellation
So, buy your Best travel insurance policy today for creating happy memories in while traveling abroad!

How To Find An Expert Financial Advisors That Suits You

We all know more or less about financial planners and what they do. But, how do we know if the advices from one of them are going to really benefit the client i.e. you? Here are some tips on choosing the right financial adviser who can guide you properly on saving, investing and also can make your money grow.

A financial adviser is nothing if he/she can’t help you tackle a specific financial goal. The goal can be anything; from purchasing a property, acquiring assets to even paying off mortgages and loans. As you ready yourself towards that specific goal or goals, put your emphasize on a financial adviser who specializes in the field of your interest.

Financial advisers are not stockbrokers! Neither are they accountants; nor insurance agents. Do not be lured into things which will complicate things further.
Buying a life insurance policy or lowering your tax bill is fine as long as you got sufficient money to put behind them. A financial adviser tells you how to save the money that you need to go after all those things, for both of the abovementioned procedures involve some sort of investment and if your financial position is weak, you may end up as a defaulter and travel further downwards the financial vortex. A financial advisor will help you escape such downward spirals.

So how do you know if the person you chose can really help you out with your finances? Simple, just watch out for just three letters following their respective names! CFP or certified financial planner is held as the most significant credential in the field; it signifies he or she has been through acid tests administered by the Certified Tax Accountant Sydney Board of Standards and regularly monitored by a governing body.

The best thing about choosing a CFP is you remain confident that they are up to date with the current finance-related laws, for it is must for them to continue education on financial matters and ethics. Else, maintaining their designation is impossible.

However, despite the CFP credential being a good sign, there’s difference between writing an exam and applying the obtained knowledge in real life. Though it’s like one in a million, but sometimes we do come across certified financial planners who come up short on skills and therefore; credibility. So, a bit of a hose sense goes a long way.

That’s to say, never forget to check the credentials or client testimonials. Find out how they charge and whether the fees are to be paid upfront or after the job is done. Business Advice Services Sydney either charge by commissions or by hourly or flat rates; it’s always better to avoid financial planners who charge you with commissions from your total fund. You certainly do not want to be steered towards particular products to make them benefit. Paying a flat fee is always better, if you do not want to pay by the hours.

Tips To Apply Successfully For Funding

Let’s face it, if you don’t have a proven track record or some notable credit worthiness, it is tough to get financing. Risk factors and high costs of servicing small accounts are the major reasons for banks and financial institutions to stay away from people who don’t have a good credit history.

However, the silver lining in the cloud is – business finance, small or big, is the bread and butter for banks and other financial institutions. If you can convince them that you are a good investment opportunity, you are on!

Following tips might make your application irresistible for banks or other institutions.

1. Be Thoroughly Prepared: You need to satisfy the lenders regarding your track record and your future viability. The documentation required for this has been discussed in my other article All About Small Business Funding.

If you are just starting out, you need financial projections for at least next three years. A financial projection typically comprises of:

Estimates of your income and expenditure
Working capital estimates
Cash flow statement
Projected Balance Sheets
Precise loan utilization detailing
Profiles of decision making people i.e. top management who would be handling the project(s) for which you need financing
Comprehensive business plan
Some of these documents require professional expertise and you would need a professional accountant to prepare them.
You would also need the following documents apart from above mentioned documents, if you are already an established business and want a small business loan to fund your working capital requirements or your expansion plans.
Copies of the Balance Sheet, Profit and Loss statement, and tax returns of the company
Personal financial statements and tax returns for last three years

2. Anticipate Questions: You need to be well prepared, and need to have a fair understanding of the lending process to anticipate questions you are most likely to face.

Remember, lenders need to be convinced about your loan repayment ability. Ideally your business plan should also include answers to your banker’s questions. The most frequently asked questions are:

How much money do you need? Be exact! You can add a little extra for contingencies.
Long term or short term? Be prepared to go into detail supported by your documents, the time you require to repay the loan.
What are your loan utilization plans? Explain whether it is for capital expenses, working capital, and expansion or to set off old debts.
How you will repay it? You got your cash flow projections here to explain repayment time frame. Use your financial projections and business plan to convince the banker of your repayment capability.

3. Don’t Be Apologetic: Remember; banks look for good opportunities to invest. Be confident that you are one of the better opportunities the bank has come across and project that confidence to the banker. It is a deal on equal terms. Banks are not doing you any favor by giving you a loan. You are giving banks good business too. You are an entrepreneur who can and will repay the loan.

4. State the truth and back it. Bankers are very smart people. If you make any unsupported grand statements, take my word, they will see through it, and you will come out looking as someone who is desperate for a loan. And bankers don’t touch such people with a barge pole! Better idea is to keep your projections, documents, figures and your statements on the conservative side. You will cast an impression of a cautious and methodical person.

5. First impression is the lasting one. Dress in a professional manner for the interview. All the loan documents must be typed; handwritten documents look unprofessional. This is a business transaction, so treat it as such.

Last but not the least, a word of caution: getting approval for a business loan is good and you are almost through to your path to realizing your dreams. But don’t forget to read the fine print. Loans have hidden costs such as: annual fees, bank charges, closing costs, commissions, and balloon payments. So stay focused and clear-minded about these riders during the loan process. Be sure about your goals, keep focused and work according to the plan. Your small business finance requirement may turn out to be just the dose you needed to turn your dream big!

How To Obtain Small Business Financing Help When Banks Say No

We provided advice a few years ago about what actions business owners should consider if their bank rejected a small business financing request. The earlier advice is now likely to be especially relevant for many businesses since banks are currently saying “no” more frequently than they have in decades because of a deteriorating commercial lending environment.

A bank saying “no” can actually lead to an overall improvement in commercial financing options under many circumstances, although a business owner is not likely to hope for the business loan rejection in the first place. With requests for needed business financing and working capital, small business owners are increasingly hearing their bank say “no”. Most commercial borrowers are often not sure what to do next since such an awkward situation represents uncharted waters for them.

Even for long-term and profitable customers, banks are routinely saying “no” to small businesses. It is now common to hear phrases such as “thinking outside the bank” and “business loans without banks” when talking about strategies small business owners might need to analyze because this has become such a widespread commercial lending problem.

When contemplating the possibility of banks saying “no”, there are two especially common financing situations likely to materialize for businesses. One of these involves working capital loans (including commercial lines of credit) and the other commercial real estate financing. While a small number of banks are still proving to be reliable sources for some business financing options, recent nationwide commercial lending reports clearly show a drastic reduction in commercial loans for commercial real estate financing and working capital loans.

Small businesses have only rarely pursued the option of replacing their bank. However, an astute business owner will quickly realize that they have little recourse but to pursue such a path when their bank says “no” to routine requests for business financing. Improvements to the overall financial health of a business will be achieved in a pleasantly surprising number of cases even though this search for new commercial finance alternatives is undertaken under protest by most commercial borrowers. It should not be overlooked that one or two banks often operate in a near monopoly environment in many communities and cities. Business owners are often pleased to discover that they can not only replace existing bank financing satisfactorily but also improve their bottom line in the transition when they have literally been forced to find new business finance options.

A prudent starting point for commercial borrowers to adequately evaluate how to get working capital and other business loans when their bank says “no” is likely to be a lengthy conversation with a small business financing expert. A critical step to eventual success in formulating a strategy for obtaining new sources of effective commercial finance funding is likely to be finding and selecting such an expert, but it should be realized that this is not likely to be a quick or easy task for business owners. Ensuring that the commercial financing expert chosen is totally independent and not affiliated in any way with the bank which said “no” is an especially crucial aspect not to be overlooked in locating a reliable expert to help.

Working Capital Financing Basics For Small Business Owners

The common wisdom for many complicated problems is often a variation of “it might be time to get back to basics”, and working capital loans currently represent an ongoing example of this advice for small business owners. Working capital management is the universal art and science of short term cash management for businesses. Because of the recent ineffectiveness that prevails with commercial banking, working capital financing can no longer be taken for granted by any business owner.

Because of declining sales occurring simultaneously with decreased availability of bank financing, ensuring adequate business cash flow has become a higher priority for most businesses. 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. Certainly there will be those who say that this is easier said than done, and it is appropriate to emphasize that this process should involve the close involvement of a business financing expert who is familiar with all aspects.

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. Businesses should increasingly try to reduce their business debt levels to avoid some of the bank fees altogether. The option of firing a current bank and replacing them with a new bank charging more reasonable fees will need to be emphasized when this is not practical.

Small business owners will quickly realize when they review working capital basics that the most effective commercial financing sources have changed during the past few 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.

Small Business Finance Vs Corporate Financing . Fundamentals And Advantages In Canada

Small business finance in Canada. Whets the difference, asks our clients between their capital needs and corporate financing in Canada. We work with both types of firms and there is a case to be made that ‘ SIZE COUNTS ‘, but you might be surprised at how. Let’ dig in!

Business owners often hear the business fact that small and medium enterprises are in fact the largest employer and the true ‘engine ‘of the Canadian economy. It is also reasonable to assume that many business owners and the management of smaller and medium size firms worry about competing against the big global giants.

These larger competitors in many cases have ‘brands ‘, as well as unlimited financial strength.

However, do business owners really know what those competing challenges are and how they can focus in on addressing them in some manner? In many cases (not always) they also have access to finance solutions available to larger corporations. They just didn’t know it!

As mentioned previously financial strength of big firms and financial limitations of smaller firms is certainly a key area. Small and medium sized firms continually focus on cash flow and are challenged by working capital. The banks and larger financial institutions can be forgiven for wanting to lend more to larger corporations, since their loans are safer and more collateralized.

The small firm can’t finance their customers in the manner that larger corporations can. The large corporations even usual financial strength to further compete against product and price by offering financing arrangements via their captive finance companies – think IBM CREDIT CORP as an example, or Caterpillar Finance. Just some examples.

Smaller firms are also challenged by personnel issues; they have trouble retaining key successful employees around issues such as compensation and benefits. Owners are focusing on day to day problems and challenges, and can’t always think long term in areas of employee development, etc.

Naturally smaller firms pay more in direct costs because they don’t have buying power; as well they are often focused on a couple core products and competencies. Larger corporations can diversify geographically and product wise as we know. Financing costs and interest rates in general have always favored the larger companies who borrow.

Intuitively the consumer or business customer gravitates towards a larger corporation for products and services, if only for the perceived safety and warranty issues.

Well, we have seen areas where the big guys clobber the small guy. Let’s turn the boat around!

Service/Service/Service – have we made out point?! Value add in smaller firms is often service and support. Customers want the personal touch and they clearly get that from a smaller firm.

Also, in a smaller firm, in general the business owner is very focused on working harder and longer with their customers – big corporations tend to favor broad stockholder approval.

The smaller firm is also more adept, and can move more quickly to adapt to market needs. Big companies can take a long time to react to competitive change. Communication and market needs are much focused in a small company – it might take days, weeks, and years for larger corporations to implement major market changes.

Customers and consumers hate bureaucracy, and smaller firms certainly have less of that – decisions are made easier, customer situations are rectified more quickly.

In summary, business owners often have a fear of the ‘gorilla ‘in their industry – the big corporate giant with brand and financial clout. Instead they should focus on specialized market segments, localization of their services, personal service, etc.

It doesn’t hurt to be a small /medium sized firm if we do it right! While larger corporate borrowers have access to low rates and flexibility and unlimited capital offer by Canadian chartered banks, insurance companies, capital markets, etc the reality is that many of these solutions, sometimes downsized and costing more, are still available to the SME sector.

Solutions include:

A/R Financing
Vendor financing
Equipment finance
Non bank asset based lines of credit
Inventory financing
PO/SUPPLY Chain financing
Monetization of SRED or Film tax Credits

Whether you’re in the SME sector in Canada or a mid market borrower seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and asset financing needs.

What Are Some Examples Of Payroll Services For Small Business?

The small business operator usually will be spending most of the time and energy available during the work week on concentrating on sales and revenue to make sure the company prospers and grows as it should. But other problems and concerns come up routinely to distract from these essential duties, posing the question of whether it might be better to delegate certain mechanical tasks.

When a small business owner needs help with payroll services, for example, it’s best for him or her to contact a company that specializes in such services for businesses that may be of fewer employees than the large corporations that customarily use outside companies for many different tasks. The outsourcing of salaries can be a smart move financially for any size business and can make life a lot easier for the small business manager.

A company experienced in handling all aspects of payroll services for small businesses can know how to customize its service to suit the particular needs of any type of business. This includes the various elements of data that usually are found on an employee’s pay slip. Such information would vary from industry to industry, requiring patience and diligence in first setting up the outside payroll operation.

The process of handling an important payroll function in-house can be very time consuming. Such matters as organizing the many time sheets, checking all data for accuracy, accounting for sick leave, and calculating new pay increases all must be taken into account when preparing each and every payroll.

Payroll services for small businesses typically also include the laborious task of accounting for any special deductions required, such as company loans and child support, submissions to HM Revenue, generating helpful management reports showing costs by department, and archiving and storing all payroll data.

The payroll outsourcing approach can work for any type of small business, and will take a lot of the worry and care off the minds of managers throughout the year, as the payroll deadlines occur again and again.

The small business client has only to provide the payroll specialist with certain information from time to time, such as the dates for applying holiday pay, data on new employees, and maternity leave information. More businesses are using outsourced payroll services and finding it very economical in comparison to running an in-house payroll department.

Businesses that are paying large fees to accountants have been able to switch to a payroll service and realize significant savings. Other businesses have been relieved that they will not have to purchase expensive payroll software themselves when they utilize payroll services.

It’s standard procedure for an outside payroll service company also to take care of its client’s obligations with regard to statutory tax year end forms that have to be completed and submitted by the deadline.

The increase in efficiency, therefore, is well worth the small fees charged in comparison to a stressful, expensive in house operation for the payroll function of a small business.