Equipment Financing: How Can It Help Your Business?

Posted on September 27, 2017 by Ann Klatt in E-Biz | Comments Off

Hard assets such as equipment for a manufacturing company can be costly, and not all business owners can afford them. This is why many companies are turning to equipment financing offered by financial institutions such as TAB Bank.

This is a type of financing that gives companies the capital they need to purchase or lease the equipment necessary for the continued operation of their business. Typically, the equipment acts as collateral for the loan to ensure that the business owners will not default on the payment.

Types of Financing Equipment

The two common types of financing equipment are either to loan or lease them. While both ways achieve the same goal, they differ from each other. If business owners want to purchase the equipment for long-term use but do not have the funds to do so, they can do it through an equipment loan.

Equipment loans allow business owners to buy the equipment they need without having to pay for it upfront. Instead, you use the equipment as collateral. Most lenders will allow borrowers to borrow from 80% to 90% of the total cost.

An equipment lease, on the other hand, is for companies who do not have the money for the required down payment or they frequently need to trade or upgrade their equipment. Therefore, instead of borrowing the money to buy equipment, they are paying a certain fee to lease the equipment.

Benefits of Equipment Finance

Not all companies have the funds to purchase equipment outright, but they do need the equipment as soon as possible for their business operations. In instances like this, the most readily available option for most business owners is to finance equipment.

This way, companies do not need to shell out a large sum of money that they may not be able to afford in just one go. Small businesses can also enjoy tax breaks because the IRS has allowed a tax-exempt status for financing equipment.

Companies are allowed up to $500,000 tax deductions for approved business equipment.

Whether you should lease or buy your equipment will depend on your needs, but you should choose the lending company carefully and do not forget to read the contract thoroughly to avoid unpleasant surprises in the future.

Secure Your Cargo and Prevent Accidents on the Road

Posted on February 20, 2017 by Joseph Stevenson in E-Biz | Comments Off

There are many factors why road accidents occur. However, when you carry cargo in a heavy vehicle, you have to be more careful and make sure that you follow the necessary precautions. Sometimes, even that will not prevent road mishaps.

Road accidents are sometimes inevitable in Australia, even when motorists follow safety driving measures on the road. However, a truck driver’s careless manoeuvre is not the main reason truck accidents happen; rather, many drivers fail to secure their cargo properly.

Many cargo-related accidents involve flatbed delivery trucks carrying steel, concrete, or any heavy material. The Government briefs all heavy vehicle drivers to follow the safety precautions they have set, but there are other ways to ensure your cargo will not be a hazard to other motorists.

Carry What the Truck Can

Every vehicle has a maximum load capacity. If your truck can carry loads of only up to 10 tons, make sure your load will not reach that limit. You must also factor your weight to the truck’s load, in addition to the actual cargo. So this means that if the maximum is 10 tons, the load threshold should only be within the range of nine to nine and a half.

Avoid Overloading

When you exceed the maximum load limit, your delivery truck may become difficult to manoeuvre. Statistics show that overloaded trucks still prove to be a danger on the road. While you can always compensate this with your expert driving skills, you can never tell what can happen to the cargo. It may wobble and tilt to one side until it breaks free from your truck—hitting other vehicles and motorists.

Fasten the Cargo

Make your load part of your delivery truck. You can use a strapping tool to fasten your cargo together, and then secure the entire load to the truck. The latter can be done using chains, tie downs or woven lashing straps. For instance, if you are carrying steel rods or pipes, X-Pak recommends that you use corded poly strapping or high tensile steel strapping to bind the cargo. You can then secure the entire contraption to the flatbed using lashing straps, effectively making the cargo part of your truck.

Transporting steel, concrete, and other heavy material is a dangerous enterprise, especially if you pass through Australia’s long highways. Failing to secure your cargo properly can cause serious road accidents not just to you, but also other people. Take the necessary precautions, and make sure that your long truck drive is a safe one.

Alzheimer’s Disease: Early Signs and Symptoms

Posted on April 12, 2016 by Nihonmagazine in E-Biz | Comments Off

Memory loss that affects daily life may be a symptom of Alzheimer’s, a brain disease that causes a decline in memory and reasoning skills. While the number and degree of signs and symptoms differ for every individual, it is important to identify the early signs.

Serious Forgetfulness

One common example of normal age-related memory loss is forgetting names or dates, but remembering them later. When it comes to Alzheimer’s, however, recently learned information is easily forgotten. It may also include asking the same information repeatedly, forgetting important events, and relying on memory aids or loved ones.

Poor Judgment

It is normal to make bad decisions once in a while, but those with Alzheimer’s make mistakes more often. Legacy Retirement and other memory care providers note that they may give large amounts of money when they normally wouldn’t or pay less attention to themselves. They may forget to take a bath or keep themselves clean because of their lapse in judgment.

Confused with Times and Place

It is typical for those with the disease to lose track of seasons, dates, and times. They may also find it difficult to understand things or situations if they is not happening right on. This why some with Alzheimer’s forget where they are or how they got to a certain place. Times and places are confusing for them, so they easily get lost.

Conversation Struggles

People with Alzheimer’s may have a difficult time keeping up with a conversation, so they may stop in the middle or repeat phases and words. They may also find it confusing how to answer back or have difficulties finding the right word. This causes them to avoid joining in conversation or calling things the wrong name.

Mood Changes

It is also common for those with Alzheimer’s to show changes in mood and personality. They may become depressed, confused, anxious, suspicious, or depressed. They may also be upset at home or in unfamiliar places. This may also cause them to withdraw from wok or social activities.

If you or your loved ones experience these early signs, it is important to schedule an appointment with a healthcare provider. It is possible to get the most out of available treatments with early detection.

Risk Management: The Secret of Eternal Business Life

Posted on August 1, 2014 by Teresa Harper in E-Biz | Leave a comment

An effective risk management framework is essential if a business wants to survive. A start-up faces more challenges than mere competition. Sometimes, a company dooms itself from the start with inadequate infrastructure, poor working conditions, and offices that violate Occupational Health and Safety (OHS) protocols.

The Risk of No Risk Management

According to Strategic Safety Australia, a leading provider of OHS consulting and training services, most of their clients do not even factor these risks into their start-up plan. Because of this, most companies fail to prepare countermeasures, and end up looking at a failed business venture before they even get off the ground.

Preparing a competent risk management plan allows companies to prepare for the growing pains of running a business and have the right tools to become competitive in their field once they start. Being able to see the difficulties from far off can help businesses benefit from the opportunities such a situation presents.

Benefits and Obstacles to Risk Management

Shoring up defences on the health front can help employees work more effectively, allowing managers to get more value out of their person-hours. One of the biggest obstacles to applying effective risk management in a company’s framework, however, is that most business persons do not know how to do it. The obvious solution is hiring someone to set-up the risk management. Companies are hesitant to pay an outsider to assess the quality of their offices, however.

Risk Management: Investment and Insurance

This is the kind of short sightedness that predicts a company’s failure before it even begins. A shrewd businessperson should not care about spending a few dollars now to protect their investment in the future.

Learning and applying a risk management in a company is not so much an investment; it is more like insurance. Protecting employees and the company from physical dangers and from the penalties of the law should be high on an owners list of priorities.

Raising Capital: Funding Options for Your Business

Posted on July 4, 2014 by Teresa Harper in E-Biz | Comments Off

While self-funding is the most common business funding method, it is not suitable for everyone, especially those with limited savings. As expenses often exceed revenue during the infancy stages of business, it is important to explore different funding options.

Here’s a discussion on the topic to guide you:

Venture Capital

This funding option is a type of equity financing that supports the budgetary needs of companies with potentially high returns. Most venture capital investments are made through cash in exchange of shares or executive role in the company. It is completely different from other financing sources, as it only focuses on new and high-growth businesses. It is an active form of financing and monitors the portfolio companies through capital structure and strategic marketing.

Bootstrapping

This refers to building or starting business with little or no money. According to the State Government of Victoria, a bootstrapped business operates using credit cards and advances from customers, leasing instead of buying equipment, and multiskilling. Perth accountancy firms like Femia-Accountants.com.au also say that bootstrapping is a good option for small businesses that cannot attract venture capital.

Business Angel

Angel investors can be individuals or former business associates who are willing to invest money in your company. It is ideal for established businesses that need funds to develop a new product or marketing strategy. Angel investors provide a portion of capital and ask only for debt repayments or partial ownership of the company in return.

Crowdsourcing

This method is done through social media networks to encourage friends, family, acquaintances, and the general public to lend small amounts of money. This has gained popularity during the past few years, with young and tech-savvy entrepreneurs commonly employing this method. Crowdsourcing only suits businesses that need a small amount of money.

In capitalising a small business, it is important to know the different financing options when you’re ready to expand. It is also best to consult business coaches and accountants to know which funding option is best for your business.

Going Global: 4 Common Mistakes When Starting a Business Overseas

Posted on May 19, 2014 by Teresa Harper in E-Biz | Comments Off

For businesses looking for new sources of profit and growth, expanding your venture globally can be an effective option. This is especially true when local markets are not performing well. Whilst it may seem tempting to just pack up and expand abroad, it is best to start out with an effective plan.

When it comes to having a global venture, make sure you avoid making these costly mistakes.

Not securing the necessary requirements

What could normally be a simple procedure can become a problem in your new venture if you keep on ignoring it. Secure all the necessary documents such as business visas, approvals, and permits before you think of promoting your services to your prospects.

You rely too much on your capital

Apart from not securing business visas and requirements, money can be your worst enemy as well when starting a global venture. Just because you have lots of capital does not mean you can resolve all the challenges you will face. Before you take the plunge, factor out substantial cost overruns, time delays, and certain expenses in your business plan. The fact that you cannot make a reasonable estimate is what creates the inaccuracy, therefore increasing the risk.

You think you have fewer competitors

Just because you are relocating to a new country does not mean you will get rid of your competitors. Even if you have the never-been-done approach, there will always be competition. Before you start, check out all your potential rivals. Come up with an effective game plan to work out how to effectively persuade customers to buy your products.

Lack of market research

Most of business owners are so enthusiastic in their brilliant idea that they almost forget promoting the right products at the right customers. To put your new global venture into perspective, research about the different customer groups. This will give you a full view of what is needed in the marketplace, allowing you to come up with unique offerings.

These mistakes should not scare you off, but should prepare you for some of the challenges you will face when starting an international venture. With dedication and a proper awareness of the risks, your new business can be a great success.