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It has been recently revealed that the Financial Conduct Authority (FCA) will be introducing a price cap on rent-to-own firms from the 1st April this year, as a means of protecting the most vulnerable in society. It is estimated that the implementation of this price cap will save up customers up to £22.7 million each year. Furthermore, the regulator intends to carry out another review of these new regulations in April 2020, to evaluate the impact of these price caps.

The success of recent price caps

 Prior to this price cap for rent-to-own providers, the FCA introduced a price cap for the payday loans sector in 2015, limiting the daily interest rate to 0.8% (before this the average was 1.0%). In addition, the default rate for a missed loan was capped at a one-off fee of £15.

The result of these price caps and the need for an official authorization process has had a positive outcome on the industry. There are significant less lenders and brokers and for those that still operate, there is a lot more transparency in terms of rates offered by lenders and price comparison websites to support customers. Whilst complaints are still high, as expected in high-cost lending, the general feeling is optimistic and consumer confidence is higher than before.

Furthermore, with lower prices charged, there has been a noticeable rise in new competitors, trying to offer more flexible and innovative products. This includes things like instalment loans over 12 or 24 months, moving away from the 14 to 30 day model and also flexible overdraft facilities.

What are rent-to-own firms?

Companies that provide a rent-to-own service allow customers the opportunity to pay for a product over time in instalments, as opposed to in one large lump sum. In terms of the kinds of items typically sold by rent-to-own firms, they are usually household related, such as fridge freezers, televisions and sofas.

 The downside of rent-to-own businesses

Unfortunately, whilst rent-to-own companies give those on low-income to spread out the cost of a purchase in a number of instalments, it is often the case that they end up paying considerably more than the item was originally worth. This is usually due to the high interest rates that are incurred, which increase the cost of the product over time.

Vulnerable customers

As previously mentioned, rent-to-own firms are usually most popular with those on the lowest income in the UK, and the most vulnerable in society. The financial watchdog estimates that the typical rent-to-own firm customer is not in employment (around a third are in work) with the highest income of the average customer being around £12,000 and £18,000 in total.

However, despite these customers having very little in terms of income, a large number of rent-to-own companies charge these customers staggeringly more than other retailers do for household goods that are essentials.

How much will rent-to-own firms charge?

Starting in April under the new regulations put in force by the FCA, rent-to-own companies will no longer be able to charge credit that costs more than the product itself. In addition, they will also need to benchmark the cost of the products being sold against the price by other retailers. That will mean that consumers now will not be charged more than 100% above the actual value of the goods they purchase.

The financial watchdog has also prevented rent-to-own firms from being able to increase their prices for arrears chargers, insurance premiums and extended warranties in order to try and gain back lost revenue as a result of this new price cap.

Industries still to go 

Whilst the FCA has addressed the rent-to-own industry, other high cost industries on their radar include car finance and unauthorized bank overdrafts where the cost for borrowing £100 can be as high as £100 according to some banks. New price caps and regulation for these products is expected to follow shortly.

 

 

In fact, the FCA has found some customers have been charged an additional £1,000 a year or more on their interest payments. This is in part because of the way some car finance lenders pay commission to the motor dealers and therefore overcharge customers to boost it. The city watchdog has estimated that each year, this is costing consumers a staggering £300 million in total.

The growth of the car loan market

The regulator has been considering intervening in the car loan market for some time, having raised concerns about its huge boom in the last few years. According to the Finance and Leasing Association, approximately 90 per cent of all private UK car sales in 2018 were purchased using loans provided from banks, lenders and using brokers such as All Purpose Loans and MoneySupermarket.

The boom in Personal Contract Purchases

The majority of new car finance deals are PCPs, otherwise known as Personal Contract Purchases. This means that consumers can rent a car over an extended period (usually between two and four years) instead of purchasing the car outright. At the end of this designated period, customers are able to buy the car for its residual value, roll over the PCP or give back the vehicle.

The issue with PCPs, is that car finance lenders have allowed brokers to set the interest rates on the PCP contracts. For example, the FCA has estimated that the average motor finance agreement at a value of £10,000, higher broker commission means that the consumer ends up paying £1,100 in interest charges alone.

Out of date information?

The Financial and Leasing Association (FLA) has said that they find the FCAs findings to be out of date. The UK trade body for asset, motor and consumer finance disputes the FCAs assessments of the car finance industry.

What is the FCA doing?

At this moment in time, the FCA has not stated exactly the course of action it will be taking regarding the car finance industry. However, it has revealed it is assessing its option, which could include banning some types of car commission models, strengthening existing rules already in place or limiting broker discretion.

Whilst measures are being agreed on, the FCA has said it will still be dealing with individual car finance firms where issues have already been identified.

Other areas that the FCA is investigating as part of its plans to tackle high cost credit include unauthorized bank overdrafts and guarantor lending. The FCA introduced a price cap for the payday loans industry in 2015 and a recent price cap for the rent-to-own industry in November 2018.

In order to choose the best online savings account, you need to make sure you consider a number of key points. This will make it much easier to decide which of the many accounts that are available is likely to be suitable for you. In this article, we will look at some of the main points of consideration when choosing an account for your savings.

Some Important Considerations When Choosing an Account

 There are various important points you need to consider if you want to make the right choice when it comes to opening a savings account. One of the key things to look at is the rate of interest that is paid on the account. This can vary based on the financial institution, the amount you save, and the type of account you open. You tend to get better rates with accounts designed for longer-term savings rather than instant access accounts, so this is something to bear in mind.

Another factor to consider is what the minimum and maximum savings levels are on the account, as this will enable you to determine whether it is right for you based on the amount you wish to or can afford to save. Again, this is something that can vary from one financial institution and savings account to another, so make sure you check this information before you decide whether the account is right for you.

Accessibility is another important consideration, as some people want to reduce access to their money in order to avoid temptation. Others, on the other hand, want to have instant access without any penalties so they can get at their savings whenever they need to. With many different accounts out there, you will find both longer-term and notice accounts as well as instant access ones, so all you need to do is decide which of these is right for you.

Enjoy the Benefits of Saving Money

 By opening the right savings account, you can enjoy the many benefits of saving. This means you can enjoy peace of mind because you have money put aside for the future, you can save toward the future of your kids, or you can put money aside for something special that you want to purchase. Of course, we never know when financial emergencies may arise, so putting money aside means that you will have some fallback in the event of such an emergency.

Opening the right savings account will ensure you are more motivated to save money but that you can still access your cash as and when you need to.

 

There are however ways to do this quickly and get the best result as fast as possible, and in this article we explore some of the ways to go about financing the project be it commercial, domestic or residential.  Whatever your projects, there are ways to get it done, but the best ways to get it done are often the simplest.

Most of the high street lenders only want to offer a mortgage on a property that is considered “habitable” but the key is finding and purchasing a property that does not fall into this category, and this is where you can really earn the profits.  By buying a property that does not fall into this category you can really get your portfolio into the big time.  Never forget once you master this form of purchasing, you will be able to do it again and again, so the only limit is yourself.  Once you have your first property, you can use this as your asset to buy another and thus repeat the process as many times as you wish.

Some of the basic information you will need to know before you start includes the following considerations and the main attributes you are looking for are:-

For a property that is considered run down but habitable, the majority of lenders will offer you (at best) 80-90% of its market value as it stands, as well as potentially holding on to what is called a retainer. This is pending the completion of the renovation as their backup insurance for want of a better description.

The lender will need to survey the property and you will have to include the price of this in your budget in the costing of the project at the start, so make sure this is factored into your model from the start. Without this you cannot get the funding from a lender for the work that you need to get done.

Some of the work you will also need to look at can well include things like damp-proofing, roof repairs, rewiring, repairs to central heating and or plumbing, plastering, rendering, outdoor decoration, flooring repairs after any pipe work is completed, the fitting of bathrooms and or kitchens, as well as the general regulatory requirements of things such as fire regulations, which may include fire doors fitting as and when relevant.  All of these aspects need to be factored into your plan and every detail will need to be investigated, checked and verified before you apply for the funds you will need.

In the cases of non-habitable properties and conversions, some of the best places to look for funding you will need, is to look for financial lenders that offer special self-build mortgages in the first place.  Typically these will finance renovations from 66-90% of the value of the property in its current condition, but they may well provide the option of further finance once you have completed the repairs or other work, once they see the required works have been done.  This is always an important point to go through with your financial provider at the start of the contract and or agreement; funds to repay other forms of borrowing.

Some other considerations you would want to know about include things such as penalty clauses, insurances (which are complex and varying at the same time from home and contents, fire, defaulting and rental policies), all of which need to be factored into the equations.  It is important to remember this project might well be the biggest and most important investment of your life, so it is vital you get all of your facts correct in the first place.

So what is the amount you could borrow and why?

As a rule the amount you could borrow is directly linked to the value of your property, especially in the form of a financial tool called a “bridging loan” (and here is a great bridging loan calculator to use)  which is solely based on the principal value of your property.  Your income (or joint incomes) will of course be directly related to the amount you can borrow.  The property also the “asset” upon which you secure the loan, so you are basing the loan on ownership of this, so should you effectively default, your property asset will be taken from you in the worst case so this needs to be made clear.

Your credit history will also be of relevant of course but in the case of a “bridging loan” for the most part, your asset guarantees the loan in the first place, so in these cases they tend to be much faster, simpler end thus more effective to obtain.  Another benefit for the choice of choosing a bridging loan is that at the end of the day you can complete the renovation, restoration or other building work ahead of schedule, you can pay off the loan while being “quids in” at the same time.

Some of the issues to remember with this type of finance is that in general, interest is in the realms of 1.5% per month and any delay can push up the relevant charges should there be some issue that holds up the work/s on you project.  Admin and other costs should be duly noted, as so should the fact you must make sure you are using an accredited organisation that has been vetted by the Financial Conduct Authority (FSA).

As ever there are other forms of finance available such as credit card overdrafts, personal loans, cash deposits, peer to peer lending, private investment opportunities, friends and family backers and other forms like taking out a basic bank loan, but as we detail here, it is your choice at the end of the day how you go about getting the job done.

As for finding the property you need, you should consider looking to auction houses, getting to know your local estate management and selling agents, scanning free sources of property advertisements and even go out looking for the kind of house/ property you are interested in to find the best bet on the markets.  Hidden gems are out there just waiting to be found so the onus is of course on you to get the best deal you can.  All in all the world is your oyster and to get the pearl you have to take the plunge first.

Hope you enjoyed reading this article and we look forward to getting you more tips and advice in the coming posts, but remember to make sure you don’t jump in with your life jacket first. Caution is always the best way to go, especially with a big investment commitment like this.

 

Breaking down bitcoin technology as an idea is not as hard as it would be to, for example, program some software. Someone has already done the programming for you in this case, all you have to do is metaphorically turn it on and follow the instructions to understand how it is all used. In short, read on and all will become clear.

So, what exactly is bitcoin technology? The technology behind bitcoin breaks down into two parts. The first part is called a wallet, and it dictates how the actual bitcoins move. The second part is called a blockchain and it is what a bitcoin is made from and how it holds value in spite of being non-physical. Once you know how those two things work, you have a basic grasp of what bitcoin technology is and does. 

How Can You See and Spend Bitcoins

Bitcoin is an amazing system, a truly ingenious advance in public accountability in addition to being spendable currency. Accessing it is as simple as using your bitcoin wallet, which is just a program that allows you to talk to bitcoin's network. It is software that lets you send and receive information like a one rate box allows you to send and receive packages, but more personalized.

Your bitcoin account or wallet has two main components that allow you to make these transactions. Your Public Account is exactly what it sounds like, it is available for anyone to see and shows how many BTC you have. So imagine your box is made of bulletproof glass. Anyone can see inside, but they can't get to the contents. In this case, imagine the box has a one-way mail slot in the side, so anyone can use this to give you bitcoins.

In order to access the account and send money, you need a password aka "Private Key," which tells the software that it is you accessing the information and allows you to actually use it rather than simply viewing. If you continue to think of this as a locked box, then your key opens the box and lets you move your money to a new location. Without the key, you can't get in and touch the money.

Once spent, your bitcoins then transfer to another of these see-through boxes, but that box belongs to another user. You can't reach it anymore once it's gone, but anyone who knows where to look can follow the exchange and see where the BTC went.

Blockchain explained

As the name indicates, a blockchain is a chain of information blocks. In this case, the information is made up of records that show account activity and where all the BTC are at the moment that block was generated. This is the recording of what all those wallets are doing.

Blockchains are made up of information. The information has identifying markings and contains all the records of where every bitcoin spent goes and where it came from. Since blockchains are information, think of them like books on a library shelf. Like a book, there are layers to the blocks in a chain.

The first layer is the block's hash. Think of a hash as a unique identifier on the front cover, a number that shows the "name" of the book. No other book has this name. This book is part of a group, a connected chain. For the purpose of this explanation, imagine the chain as a bookshelf. This shelf (chain) has only books with neon yellow covers. So the neon yellow bookshelf has all the books in the neon yellow set, all the blocks in the chain for this one blockchain.

The second part or layer of each block is the data, in this case, the identity (public account address) of senders and receivers of bitcoins and the sum in the accounts. It shows everything that moved, where it came from and where it went. Think of this as the pages of the book.

The final layer of a block is the hash from the previous block. Think of this as the back cover. The front says, for example, "Hi, I'm Neon Yellow #3." The back would then say, "I belong next to Neon Yellow #2 on the Neon Yellow Shelf."

To change a block, to insert different information, you have to change the cover of the book. Changed blocks/books are easy to identify because they don't match. Changing the data is like changing the number, color or the location of a book in this perfectly organized and color-coded library. It would no longer connect to the rest of the chain (it would not fit on the shelf) because it wouldn't match. Taking a block out won't work because that also breaks the chain and anyone could see something was just missing.

Computer programming and finances are both more than a little complicated. However, understanding technology doesn't have to be a headache. You don't need to mint a dollar to save or spend it, and bitcoins are no different than a dollar. It may seem less secure when anyone can see where the money is, but in reality, it keeps anyone unauthorized from moving it because everyone can see what is happening. That's the genius of bitcoin technology, complex programming to create something beautifully simple.

As probably the most trusted of online banking systems, Paypal still has had to fight to be accepted in some industries, but now it is appearing in more of them as the merchants realise they could be losing out by not accepting payment in this way.

Health Clubs And Gyms

Most people set up a direct debit or standing order for their gym memberships and it never occurs to them that there could be other ways to pay. PayPal has made it very easy for gyms and health clubs to accept payments via their accounts, and this has opened up a whole new market of potential customers – the ones that who do everything online.

Businesses can get instant approval to accept payments-on-the-go and, when people are deciding which gym or health club to join, this is a real advantage. It comes down to a matter of choice and giving PayPal payments as an extra option is great for the gyms and health clubs that have become merchants.

Online Casinos

Many of the large and reputable online casinos now accept deposits via PayPal. From a player’s point of view, paying this way allows you to conceal your personal details, your banking details, and any other sensitive data. PayPal is compatible with mobiles, the deposits are instant and encrypted for even more security. You can find out which online casinos accept PayPal deposits at www.ukcasino.org.uk, a site that will also tell you all the advantages of using this deposit method, and how to go about it.

As PayPal has been the frontrunner in the world of online payments for many years, its e-wallet is used globally, which was the original intention of the founders. As online casinos are also worldwide, it makes sense that the two should work together.

Physical Stores

It has been a long time coming but the number of physical stores accepting PayPal payments has already started to increase and will rise even more. Although you have been able to use stores that accepted Mastercard to pay from your PayPal account, a dispute with First Data that has been running for 3 years has now been settled which will remove many hurdles that were there in the past. First Data is the largest card processing company in the world and deal with businesses of all sizes. Since 2013, they have refused to allow PayPal to use their platform, but now that has changed.

The PayPal app, which is contactless-tap-to-pay and similar to the way Apple-Pay works, will now be possible, although, of course, this will not be the only way to make a PayPal payment in a physical store.

Consumers will be able to make payments from their PayPal e-wallets or with their PayPal branded Mastercard. There will also be a business debit card.

The benefits of PayPal Being More Accepted

For Paypal, as more industries that accept payments from them, it will mean the more they are able to compete with other online e-wallets. It seems that Visa and Mastercard are both offering PayPal discounts if they do not push payments by bank transfers, which could also help to make them more competitive.

For merchants, it gives their customers more choice of payment methods and that is likely to increase their customer base. It is simple to sign up to become a merchant, and the fees are generally comparable to other payment methods, although, often, they are a bit less.

For consumers, having a secure and simple way to make payments has to be an advantage and, with so many people using PayPal as their main banking facility, the easier it is for them to use, the better. According to Statista, there are now more than 267 million active PayPal accounts worldwide, a growth of 17% year on year.

PayPal has been a favourite way to make online payments for many years but, now, with consumers expecting to be able to use it wherever they are, it is set to become a favourite for offline use as well. As it is so secure, it gives consumers the confidence to use it, and that is making it even more vital for all industries to look at accepting payments via PayPal.

While there are many benefits that come with advancements in internet and digital technology, there is also one key problem. Cybercrime has become a huge issue over recent years, with many people falling victim to problems such as fraud, identity theft, and other online criminal activities. With this in mind, it is vital to ensure you protect yourself as much as possible using a wide variety of tools and resources ranging from virus protection software through to online security services such as LifeLock.

It is important to take steps to protect your financial identity and your personal details these days. Without taking the necessary steps to do this, you put yourself at risk of a wide range of digital criminal activity. However, by making sure you exercise caution when it comes to going online, you can protect your personal details, your finances, and your personal identity. You can also reduce the risk of becoming the victim of financial fraud and ID theft, both of which have become common problems over recent years.

Some of the Steps You Can Take to Protect Yourself Online

 While internet technology has become increasingly secure over the years, it is also important to remember that the methods that are used by cybercriminals have become more and more sophisticated at the same time. This means you cannot become complacent about protecting yourself online, otherwise you could end up falling victim to various crimes. By taking steps to protect yourself online, you can reduce the risk of various criminal activities that could cause everything from inconvenience to financial devastation and more.

One of the things you need to do is make sure you have decent anti-virus software installed, as this can help to provide an excellent level of protection against malicious attacks. You will find both free and paid software options so there is something to suit all needs. If you work on your home computer, you may want to opt for the more advanced ones otherwise your work can be affected in the event of an attack.

Another thing you need to do is be very careful not to click on links within emails claiming to be from your bank or from another company. In fact, you should avoid clicking on any email links that are not from a trusted and known source. You could find yourself on the wrong end of a phishing scam, which is designed to get you to enter your details on a fake site, although you may believe it is the genuine site for your bank or other organization.

Finally, you need to make sure you do not save your password and account details on saved computers, as this then gives other people ease access to your information and accounts. Always enter your details each time you want to access accounts such as your bank, tax account, shopping accounts and more. This may seem like a hassle but it can save you a lot of stress and headaches in the long run.

By taking precautions to deal with any potential risks when you are online, you can benefit from increased security and safety.

You must think about what it takes you spend your money wisely, and ensure that you are going to get as much as you can out of it. This is why you have to make sure you think hard about the different ways of spending money in college. Here are some of the best things you should consider when you are coming up with some excellent ways of spending your money wisely.

Get Help With Work

One of the best things to consider is the fact that you might need to get help with your work. Paying for homework help in college is definitely something you should consider, and you can read more about it in this blog. This is a sensible use of your money, because it is a great way of ensuring you are using the money wisely, and for the purposes of improving and furthering your education moving forward.

Buy Equipment

Buying equipment is an essential use of funds as well, and this can be anything from a laptop to books to science equipment. Making sure you are prepared and well-equipped to learn is so important. And this is why you have to be clever about how you choose to spend your money, and the sorts of things you are going to be buying to help you study as much as possible.

Pay for a Ticket Home

You are going to need to take a break from your studies at some point and make sure you are heading home to see your family. This can be just the break and respite you need to keep you feeling good and get rid of a lot of the stress you might be feeling. Heading home is something that can make a really massive difference, and is a great use of your money moving forward.

Make Sure You Stock up on Food

Another thing you are going to need to look at when you are in college is ensuring that you are stocking up on food. There are so many great reasons you need to make sure you do this, and food is crucial for sustenance when it comes to helping you study more effectively. Make sure you are buying enough food each week to ensure that you are well fed and that you can operate more effectively.

There are a lot of things that you have to keep in mind when it comes to spending your money wisely. You need to make sure you do as much as you can to improve the way you are using your money. Look at what you can do to improve the way you are spending your cash, and this is something to consider moving forward.

Does this mean that the death knell has been sounded for the casino industry? Not so fast. What these figures do indicate is that more of the casino action is moving away from bricks-and-mortar casino floors towards immersive online platforms. The world of online casinos, known as iGaming, has exploded in a very big way. According to a report on Statista.com, the size of the global iGaming market is set to be worth almost $60 billion by the turn of the next decade. The accessibility of iGaming has never been better. HTML5 technology has helped create responsive online casino experiences across desktop, mobile and tablet devices, allowing players to get involved any time, any place – providing they have a Wi-Fi or 4G connection, of course.

So, how did the iGaming industry’s leading players fare on the stock market in 2018 compared with the likes of Wynn and MGM?

888 Holdings, the public company that owns the 888 umbrella of iGaming platforms, spanning poker, casino and sports betting, experienced a difficult 2018 in terms of its share price. From a high of around $324 in May, it fell to a low of $153 in December. However, its share price has risen since as we’ve moved into the early stages of 2019 off the back of a recent press release from 888’s now-departed CEO, Itai Frieberger. Mr Frieberger alluded to the iGaming platform being “very excited” about the “significant long-term growth opportunities in the US market”. According to this review on Bestonlinecasinos.org.uk, 888casino is one of the few iGaming platforms to use its own software, Dragonfish. This sets the brand apart, with its ability to offer unique slot titles.

It was also an eventful 2018 for The Stars Group. The Canadian iGaming conglomerate boasts a string of well-established iGaming brands, namely PokerStars, BetStars and Full Tilt Poker. The company, which generated revenues of $1.3 billion in 2017, agreed to purchase UK-focused iGaming platform, Sky Bet for cash and stock said to be worth $4.7 billion in April 2018. It was a move designed to provide The Stars Group with a market leading sportsbook, with BetStars struggling to breakthrough. The Stars Group stated in a company statement that the acquisition would complement its “core poker business” and enable “more effective cross-sell to players across multiple verticals”.

Although its share price mirrored that of 888 Holdings, falling to a low of CAD$20.8 in December 2018, hope abounds for a much brighter 2019 given the company’s immediate plans to restructure Sky Bet’s management and execute its integration strategy into the UK’s iGaming scene. The Stars Group could certainly be an iGaming brand to watch on the stock market given that another giant deal is reportedly in the offing. According to a release by Independent.ie, Stars Group held secret talks in 2018 with Paddy Power Betfair regarding an £8.4bn merger, although industry competition issues could prevent any deal from having legs.

Speaking of Paddy Power Betfair, the public company derived from the merger of leading online sportsbook Paddy Power and the Betfair Sportsbook and Exchange, it too experienced a somewhat challenging 2018, with its share price plummeting from a high of £9,110 in May down to a little over £6,000 in October. There is a chink of light for the Paddy Power Betfair brand, however, following the recent news of its deal to use the Open Gaming System (OGS) from iGaming software developers Scientific Games. According to a story on Gamblinginsider.com, the OGS content aggregation platform will provide a portfolio of more than 2,000 iGaming titles for the operator’s latest regulated markets.

Finally, one of the longest established pioneers of iGaming software development, Playtech, also experienced a worrying decline in 2018. That’s despite the fact that more people are turning to iGaming titles as opposed to visiting land-based casinos. Having been priced at £833 in April 2018, Playtech’s share price fell to just £370 on Christmas Eve. According to a report on Directorstalkinterviews.com, Barclays Capital has set a target price of Playtech PLC at £470 in the coming months, suggesting its price may have bottomed out over the festive season. The developer’s inaugural entrance to the Swedish iGaming market will also help to improve its standing, with its live dealer and casino products being utilised by Paddy Power Betfair in Sweden from 1st January 2019. Bet365 has also been utilising Playtech’s casino and poker products for Sweden-based customers. Although the announcement of Playtech’s foray into Sweden saw its share price rise marginally, there is no getting away from the fact that its share value almost halved in 2018. Challenging conditions all round for the world’s biggest and best iGaming brands.

The good news is that there are several services which will negate the factor of cost thanks to their innate sense of flexibility.  What goes into a quality website builder and what features should you expect to encounter?  Let us take a look at one of the most impressive platforms in the business today as well as what tools serve to separate it apart from competitors.

All About Clarity and Insight

One of the most frustrating issues such many sub-par e-commerce platforms is that their architecture automatically assumes that the user has previous experience with coding and similarly complicated issues.  This can be quite problematic if you do not wish to devote a significant amount of time to learning such intricacies.  This is also why the most effective platforms boast a user-friendly nature which is easy to interpret and modify if necessary.

The associated tools should be just as easy to use.  Whether referring to multi-channel marketing services, payment gateways or storefronts, the fact of the matter is that a streamline nature will help to ensure that your website is up and running in no time at all.  Furthermore, you can detect any issues or mistakes as they occur; saving valuable time and eliminating the possibility of lost revenue.  The bottom line is that any e-commerce platform needs to be able to end user clarity and insight so that the appropriate actions can be taken when the time is right.

Agile and Dynamic

Why are a growing number of entrepreneurs choosing to utilise the tools and services provided by Shopify?  One of the main reasons involves the user-friendly characteristics mentioned above and yet, these are only the beginning of what you can expect to leverage.  You will be provided with several other amenities including (but not limited to):

- An advance CMS (content management system).

- Unfettered control over CSS and HTML coding.

- Secure payment gateways that accept multiple forms of currency.

- Reliable order fulfilment

- Enhanced stock and inventory management

Furthermore, all of these features can be accessed from within a centralised dashboard; enabling you to maintain full control over the actions of your firm at all times.  In the event that an issue is discovered or should you have a question, customer service representatives are available 24 hours a day and seven days a week. 

It is clear to see that starting a website from scratch has never been easier.  On a final note, you can enjoy a 14-day free trial period before making a purchase.  There is simply no reason to pass up on such an offer, so take a further look today.

Starting a business from scratch is a wonderful scary but exciting time. It is when you find out if all your hopes and dreams are justified and begin to support yourself without any reliance on an external pay cheque, fulfilling your cherished desire to work in your chosen sector. You probably began offering your products and services to family and friends, and they have supported and recommended you to their families and friends and now, you find, you are busier than ever. Your home-based premises may feel a bit cramped. Your diary is filled to bursting and the orders are flooding in. There are not enough hours in the day for you to serve customers and take care of the admin and the ordering. In short, it is all getting a bit much for one person to cope with.

The Time Is Right Now

Now is the time to give serious consideration to switching from successful sole trader to limited liability (or similar) company. This means finding new premises, hiring some staff members and getting in touch with an accountant, and perhaps even a lawyer. New premises will give you the space to lay out your shop, workshop or office professionally and will allow customers to call in to see you – something that is not always suitable when working from a residential space like a home, shed or garage. New staff members can take some of the burdens of the job off your shoulders, freeing up your time to ensuring that the paperwork and accounts are fully up-to-date and submitted appropriately and on time as well as getting out there and getting even more new clients on board. Accountants and lawyers are worth their (sometimes quite expensive) fees as they have access to up-to-the-minute accurate information about how your company should be run and will be able to alert you to information that you need to know in order to be legally compliant.

How Do I Do This?

First of all, be sure that the transition to 'proper' business is necessary. If you are very successful as a sole trader: making enough money to support yourself, busy as much of the time as you care to work, and feeling the weight of obligation upon your shoulders – those are signs that you are doing very well as a sole trader. In order to need to transition to a more professional set-up, you have to have at least double the work available that you are physically able to do at present, your stock needs to be crammed into every available nook and cranny of your home or storage unit, and you should be feeling actively stifled by the constraints of your current environment. This is when you will know that the time is right.

Before you rush into anything, take advice. Speak to your bank about funding your expansion and ask what good deals they can offer you regarding loans, salary guarantees and credit fees. Ask your accountant if there is anything you need to take into account when it comes to running payroll for your employees: there are considerations such as National Insurance contributions, pension offerings, and holiday pay to take into account. Both will need to be consulted about the expansion of the business as you will need to show the bank projections and forecasts that your accountant will be able to draw up for you. Make time to contact the HMRC – although much of the information you will need can be found through their comprehensive online system these days – to make sure that you know exactly what information your will have to declare and how long you have to get it submitted to them.

Equally important, although often overlooked, will be the need to discuss this move with your family. Your partner or spouse will have to cope with you working long hours and not taking much time off for a considerable period of time – it will be a minimum of three to six months before your company settles into its new way of working. Your children will need to be told that you will be very busy and will not have very much time for fun and daytrips. It is also best that you explain how the business expansion will benefit them, asking for their patience and understanding. Do, however, make sure that you have some downtime – burning out just as your business booms is not the long-term objective you should be aiming for.

Taking this step will be alarming – but worth it in the long run. Your customers will be happy with the expansion of your business, being reassured by your more professional image, your family will benefit from the increased income, and you will have the satisfaction of knowing that you have made your mark on the business world.

While there are too many unknown factors for this to be a routine matter, there are some important points that will help you to understand what might happen in the months ahead. What type of investment could turn out to be the best for you in this period of change?

Forex Trading Matters

One of the most obvious impacts of the Brexit process to date has been on the British Pound’s exchange rate against the Euro and the US Dollar. A look at the timeline since the voting took place shows us how the Pound has fallen sharply due to uncertainty about the future.

Are we going to see the Pound fully recover once Brexit is finalised? There is a huge question mark over this point right now. Naturally, this opens up the possibility of making money if you trade on the right currency pair at the right time. A big swing either way can be profitable, depending upon the trade you make.

It is also worth remembering that investments held in foreign currencies will be affected by any movement that the Pound suffers. If you have a property or a savings account in another country, then the way that the currencies move will make a difference to your overall wealth.

The FTSE Stock Exchange

If you have stock market investments then you will want to keep a close eye on the FTSE 100 to see how it reacts to each different phase of Brexit.  To date, the FTSE has been affected positively by the news about the UK’s split from the EU.

Will this carry on, though? There is a link between the performance of the Pound and the performance of the FTSE. However, while the Pound has fallen, the FTSE has surged by 30% at the same time. How is that possible?

The general feeling is that the falling Pound has benefitted the companies with overseas earnings that appear on the UK’s stock market. This means that the money that they make abroad is worth more in Pounds than it was before.

Image source: Pixabay.com

 

The Confidence to Invest

One of the big areas of concern that has come out of Brexit is the importance of confidence in the economy. The uncertainty around the UK’s future is one of the main issues that have dented confidence in the business world in recent times, according to the Institute for Directors.

In terms of investing wisely, this confidence should come from knowing what is really going on. If you are fully informed, then you can feel ready to make smart investments regardless of the prevailing economic and political climate.

It is certain that Brexit will continue to provide risks and opportunities for investors. If you can limit the risks while taking advantage of the opportunities, then it could turn out to be something that proves hugely beneficial to your future.

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