5 Ways Partnering with the Best Bank Will Boost Business Growth

Did you know that 82% of businesses fail because of cash flow problems? That’s right; not because of management issues or unfair laws, but stalled cash flows. In times of financial turmoil, only a reputable bank can get your business out of the doldrums. It’s unfortunate that most business owners don’t quite understand the importance of having a reputable bank as a partner. In fact, about 26% of small business owners don’t have separate accounts for their business. This begs the question, is partnering with a bank really good for business growth and prosperity?

To answer this question, we’ll be highlighting a few ways teaming up with the right bank can take your business to greater heights.

1. The Right Banks Enhance Your Professional Image

Having the right bank as your partner helps enhance your corporate image. Investors associate specific banks with high-level and successful businesses. Partnering with such banks will automatically put you in the big leagues, or at least give off the perception.

What’s more, a separate business account is a clear indicator that you’re open for business. Failing to separate your business from personal affairs is a huge turn-off for clients and investors. Not only is it unprofessional, but also makes your business look illegitimate or temporary.

Having your business name on checks and financial statements shows that you’re here to stay. Avoid giving off the wrong impression by using your personal account for business transactions.

2. It Offers Commercial Loans

Unexpected financial emergencies or shortfalls are common in all businesses. As mentioned above, this is what brings most businesses to ruin. Thankfully, banks offer business loans that can help businesses fill in financial gaps.

You can use business loans to buy equipment, pay suppliers, or even fulfil payroll. You can even use the loan to buy real estate property and expand your business. Commercial banks will be more than happy to give you a loan provided you meet their qualification criteria.

Small businesses are the biggest winners because of small business loans from the government. The United States Small Business Administration has developed various loan programs for small businesses. They can access these loans through commercial banks and get the funding they need.

The SBA guarantees these loans, meaning that businesses with less than stellar credit scores can apply for these loans. However, the first step is to partner with a commercial bank to get the green light.

3. It Keeps Your Money Safe

The biggest benefit of partnering with a reputable bank for your business is that they offer a safe place to store your business cash. Banks offer both checking and operating accounts for your business.

A checking account will hold money that your business will use for completing payroll and paying payroll taxes. An operating account, on the other hand, holds money that finances the business’s daily operations. This may include paying suppliers, rent, or energy bills.

These different types of accounts help you manage business finances in check. It also keeps your money safe from theft or fraudulent transactions.

4. Banks Offer Lines of Credit

Sometimes your business needs financial help, but taking out a large loan means paying hefty interest and other fees. If you want to sidestep interest, you should consider opening a line of credit. A line of credit allows you to borrow a specific amount and repay it when you get payment from your client.

Let’s say you have a line of credit of 10,000 pounds. The bank allows you to withdraw any amount not exceeding 10,000 pounds. You then pay back the amount when your business receives payments for pending bills.

Lines of credit allow you to borrow only the amount you need, not a large loan that attracts hefty interest fees. Over time, you can save a bundle in interest fees; money that you can use to grow your business.

5. They Provide Debit and Credit Cards

Did you know that commercial banks offer debit and credit cards for businesses? That’s right, businesses can apply for debit and credit cards with their checking or operating accounts. You can use this credit card just like you would your personal one.

A business credit card can help you manage short-term expenses and keep your business running. It also helps you manage costs, spread cash flow, and make timely payments. The best part is that it comes with incredible rewards to help save you money.

However, it’s worth noting that business credit cards are only for business use. Using it for personal reasons violates the terms that the banks stipulate. This could result in dire consequences for your business account.

6. They Offer Priceless Advice

All business owners face the monumental task of managing their business’s finances. However, this is easier said than done, given the unpredictable nature of business. Banks can step in to give business owners valuable advice on how they can maintain cash flow and boost their profits.

The right bank can offer crucial advice on taxes, insurance, payroll management, and even retirement accounts. If you partner with the best bank, you can get insights into business growth strategies to take your business to the next level.

They will also help you set up digital payment methods that are automatically reflected in your business account. This will help streamline payments and ensure consistency between transactions and your bank account.

7. They Offer Workshops and Seminars

Banks frequently hold seminars and workshops where business owners can learn about money management and growth in their industries. They also learn about solid financial strategies and how to expand their networks. These events are a great avenue to learn and grow your business for increased profitability.

Bank Partnerships for Accelerated Business Growth

Partnering with a reputable bank is one sure-fire way to spur business growth and increase profit margins. However, you need to find a trustworthy bank that aligns with your goals and vision. Open a business bank account today and propel your business to greater heights.

Check out our wealth management section to learn how you can make good use of the profits you earn from your business.

What You Should Know About Executive Recruitment and Working with Recruiters

The executive recruitment process can be complicated and time-consuming, with everything from searching for the right position and interviewing to making the right choice for which executive position will best meet your needs. This process isn’t usually something that’s complete overnight, so it’s important to be prepared for what the process will bring, with tenacity, and focus on what you need.  

What You Should Know About Executive Recruitment and Working with Recruiters

If you’re already discouraged, take heart knowing that executive recruiters have been doing this process for years, and they’re ideally suited to offer insight and support that should get you through the recruitment process quickly and painlessly. These tips will help you optimize your executive job search process and get you the right executive position as soon as possible.  

What Sets Your Brand Apart?  

Before you search for candidates, first look at the market to understand the range of opportunities currently available. Then, focus on your brand. What sets you apart? What might a company love or hate about your resume, your social media presence, and your reputation? Also, look at how you’re already positioned among your fellow candidates.  

There could be a wide range of reasons you have negative vibes following your personal profile and online platforms. Whether you’re using a recruitment service or handling the process yourself, be prepared to address any issues. Also, be transparent about why you’re the best candidate for the executive-level position.

The reasoning may not be as logical and obvious as you think. Communicate why you are the quality solution to bring the level of performance, versatility, and high-powered relevance they need. Show you’re excited about the opportunity and what you will do to make a difference. 

Is a Recruiter the Best Solution?  

The recruitment industry is a billion-dollar industry and rising, with 3-15% of all jobs being filled by recruiters. So recruitment works most of the time. It’s just a matter of whether a recruiter will get you the right solution for your needs and how long that process will ultimately end up taking. To get the best possible options for your needs, you should be upfront about what you’re looking for but also what you’re not looking for.   

Beyond setting the groundwork for a successful relationship with your recruiter, keep the lines of communication open and build a relationship with them. It might take a while for the right situation to appear, but if you’re patient, you may find what you’re looking for. There’s really no guarantee that your search will be successful, even if there are positive signs. That’s where the positive attitude, tenacity, and continued professionalism all come into play.  

Be Upfront About Employment Flexibility 

Flexibility is a key focus for executive candidates. Now, as many as 55% of global businesses offer some capacity for remote work and 18% of workers are remote full-time. There’s still a great deal of uncertainty in the marketplace about remote, hybrid, and in-office work. Your ability to be flexible may be an important consideration, or it may really not matter to you at all.  

Regardless of how flexible you will be, you should be upfront with prospective recruiters and employers. As you search for the right executive-level job to meet your needs, address the remote situation, and be clear about your expectations. Think about what you will need the position to be and become both now and in the future. Then focus on that as you work through the recruitment process.  

If it’s a give and take, how are you uniquely qualified to fill the position, and how does your need for flexibility fit into that requirement? You’re offering value, but how can you make that aspect resonate with recruiters and employers? They can’t rely on empty promises, so what have you done in the past that proves that you will deliver the level of expertise and true value they need? 

Do You Need Focused Help?  

A recruitment agency may offer generalized executive recruitment services, or they may specialize. Depending on what you’re looking for, you may be better served by a recruiter who is already experienced in your specialized area. If you’ve tried a more general recruitment service in the past without luck, you might try a more specialized recruitment option, and vice versus.  

Simplify Your Recruitment Process 

Simplified job applications and a streamlined recruitment process make life easier for everyone involved in the employment situation. Whether you’re proceeding with internal recruitment, you’re using agency software, or you’re using a recruitment service, you need a simple solution that will speed up the process.  

The recruitment process doesn’t have to be painful or time-consuming. Most of the information you should need to make your decision should be easily accessible. So, you should be able to figure out the best solution in a streamlined and straightforward manner. Don’t let the process drag out and don’t make it more cumbersome than it needs to be.  

Use Technology to Your Advantage 

HR recruitment software and other tools make it fast and easy to search for and process executive candidates. Avoid the headaches, the indecision, and the back-and-forth. The best recruitment software not only streamlines the hiring process but also offers training and onboarding solutions to get everyone up to speed.  

If you’re not sure where to start, rely on the sage advice of recruitment professionals. They can usually guide you through the initial steps of the process and assist you in navigating through all the complications that technology, lack of knowledge, and other roadblocks may put in your way. The common goal is to help you get up and running as quickly as possible.

7 Great Reasons to Start a Business Right Now

They say if you do what you love, you’ll never work a day in your life. But, a recent study shows that small business owners tend to work longer hours than the average employee and take less frequent holidays.

The same study also tells that, even with these factors, people are 80% happier than before they jump-started their own business. The major benefits of being your own boss are having control over your work/life balance, as well as more time for family. These are the factors that contribute to happiness. 

If you’re looking for reasons to start a business, look no further. From personal growth to financial independence, there are many reasons to start a company. 

Keep reading to learn seven key reasons to start your own business and how you can put the gears into motion. 

1. Focus on What Matters to You 

Starting a business means that you get to choose what industry you want to focus on. The best part is, you can focus on what you really care about. 

You might see a gap in the market for a specific product, or you see services that are lacking in a particular industry. The options are endless but what is important is that you choose what matters to you. 

This is where you can brainstorm some of the dreams you’ve been thinking about. Dig deep within yourself to discover your calling. This way, even when your work feels like work, you will maintain your drive and motivation. 

2. Become Financially Independent 

If you want small business success, there is no doubt that it will take a lot of hard work, perseverance, and setbacks. You might not reap the financial rewards of your work right away, but with time, they will come. 

When you work for someone else, you earn a salary and eventually accumulate a retirement fund. For the most part, you are required to do the work if you want to get paid.

With a business of your own, your wealth can accumulate in a variety of ways, long after you’ve stopped working. You can have a team that ensures that work is done when you’re not there. Or might have property where your business is run that accumulates market value

You have a higher chance of becoming financially independent as a business owner than an employee. 

3. Create and Manage Your Own Schedule 

Being your own boss means that you don’t have to sit in rush-hour traffic to get to your office, only to be pestered by someone about your tardiness.

You can schedule your workday to suit your personal needs. You might lack creativity and enjoy working in the evenings. Others thrive in the morning and enjoy an early finish to the day. It will be completely up to you to organize your work. 

That being said, without someone to hold you accountable, you also have to be self-motivated. Create a schedule that works for you and honour it as your own boss. 

4. Build an Office Anywhere 

Working from anywhere is one of the best reasons to start a business. Many businesses are operating with employees working remotely from all over the world. 

When you are running your own business, you can turn any space into an office. This is especially important if you love the freedom of travel. It can also allow you to spend more time with your family. 

All you need is a sturdy laptop and an even sturdier Wi-Fi connection. 

5. Build Your Own Team

Another great reason for starting your own business is having the freedom to create your own team. If you don’t like Bob from the Finance Department, you don’t have to work with him!

You can curate a team of individuals who understand your vision and have the same passion for what you do. They can be old colleagues, previous classmates, or those that you’ve deemed the most qualified. 

If you’re building a team, be sure to get business advice from a financial consultant to help you secure the financial future of your team members.  

6. Take Advantage of Startup Resources 

If you’ve got startup ideas and passion for your work, there are resources that can help you achieve your dream. 

There is a plethora of knowledge available to you to help educate yourself and run a business. Research free courses, webinars, and networking events that pertain to your particular business. 

There are also many funding options to help you get started. Check out how you can apply for a business loan to get you on your entrepreneur’s feet. 

7. Give Back ​​to Your Community

Paying it forward is one of the most rewarding parts of any job. This is especially true if you have your own business and you can support a community or cause that resonates with you.

There are many organizations that lack resources and funding to give back to a specific cause. From education to housing to climate change, there is no shortage of causes that you can put your efforts into. Using the skills that you’ve acquired through building a business, you can organize funding for a special cause. 

This will help you leave your mark on the community and show the values that reflect your personal brand. 

Get Inspired With These Reasons to Start a Business 

Starting a business can seem intimidating. With the right resources and support, you can get your business off the ground and up and running. These seven reasons to start a business can help to inspire and motivate you to do what you have always dreamed of doing. 

Visit our website to open a bank account and start your business off with the right support. 

Smart Strategies to Run a Successful Restaurant Business (Secrets and Examples)

In this article, we’ll share some smart ideas for your restaurant you can use to win more clients and separate yourself from the competition.

  1. Integrate online reservation platforms

Online booking platforms are a must-have for restaurant marketing as they help them get discovered by a broader audience and receive more bookings. The most popular platforms to try are:

  • OpenTable
  • Eat App
  • Resy
  • Wisely
  • Table Agent
  • Eveve
  • Tablein
  • Add a reservation link to Google Business

Today, Google dominates online food searches.

When someone looks for a business on Google, they see a profile on the right side of the screen. That is a Google My Business listing. Google created this free tool to help businesses, owners, and visitors.

On top of displaying open hours, location, driving directions, reviews, and photos, restaurants can also add a link and take reservations directly from a GMB page.

Business for Restaurants
Source: https://wpcodeus.com/google-my-business-for-restaurants-guide/

It’s also possible to add your URLs for specific actions such as:

  • Viewing the menu
  • Booking an appointment
  • Searching for items
  • Placing an order.
  1. Implement smart email marketing

Dozens of articles dedicated to restaurant marketing suggest implementing an email newsletter as a great free opportunity to get more clients. But almost all companies, including well-known players, use email marketing. So just sending out a generic email with some news and updates once a month will usually have little to no impact.

However, email still remains an excellent marketing channel if you know how to use it. One of the most crucial things to keep in mind is that you’re competing with other brands for attention in people’s inboxes.

So how do you stand out from the crowd?

  • Send email before b-day to offer to book a table for a celebration

It’s always a smart idea to send personalized emails. By using your customer data, you have a chance to create email marketing that is relevant to clients rather than just acting blindly.

Let’s take birthdays. This is one of the most important days for most people. So it’s very likely they’ll want to have dinner with their friends and family. If you’re smart about your marketing, they’ll choose your place.

So start with recording the birthday dates of your guests along with email addresses when they are making an online booking or receiving a bonus card.

When you have a database of such email addresses, you can send your customers personalized emails two or three weeks out from their birthdays telling them you have an excellent venue for their event.

  • Use a professional email signature with CTA ( book a table or with new dishes)

The email signature is like a digital business card you can include in every email you send. With this signature, you will let recipients know who you are, what you do, and most importantly, what you want them to do (it’s called call to action). Just imagine the number of extra guests you could get to your restaurant if you simply include a link to your menu or the option to book a table in your email signature.

Take a look at the best email signature examples to get a taste of what we’re talking about.

The signature can be easily created with the help of an email signature generator.

  1. Hire a professional food photographer

It’s not enough to write the name of the dishes on the menu or on the restaurant’s website to attract new visitors. You need to take quality, appealing photos so that when people see what you have to offer, they would want to come and try.

Food Photography
Source: https://sallysbakingaddiction.com/food-photography-basics/

Professional food photography is significantly different from what you do yourself: you won’t be able to get high-quality pictures on your phone or camera unless you have a lot of practice styling and photographing. In addition, you need special light, professional equipment, and, of course, artistic taste.

So hiring a pro food photographer is one option that shouldn’t be overlooked, even though it isn’t cheap.

Still not convinced? According to this survey, people specifically look for food photos on restaurant websites and social media. For example, 60% of Generation Z and 55% of Millennials check out food photos on a restaurant’s websites before they decide to order. Furthermore, 50% of Generation Z and 44% of Millennials say they scrapped the idea to visit the restaurant because the food photography wasn’t enticing.

  1. Be in touch with local food bloggers and influencers

Look for influential bloggers that have a large following in your city. The common practice among restaurants is to invite such bloggers to your restaurant and offer them a free dining experience. As a rule, influencers feel their audience very well and can easily find a way to highlight the benefits and advantages of the product or service. According to statistics, 49% of consumers depend on the recommendations of influencers.

Food Blogger
Source: https://www.instagram.com/gemtakesfoodpics/
  1. Best restaurant digital marketing examples

What do Wingstop, Sandwich Hag, and Steak’ n Shake have in common? Hint: it’s not just tasty food on the menu. All have adopted smart digital marketing strategies to grow their businesses. Let’s get inspired.

  • Wingstop

Wingstop, a chicken wing fast-food network, launched a smart campaign where they provide 1,000 branded merchandise items to those who will post on Wingstop’s Instagram. The brand also offered $10 via mobile payment to each user who posts an ad for the restaurant on their public Instagram profiles. The trick might work no worse than inviting bloggers.

On top of that, they announced that twenty-five million consumers are now placing orders digitally. This is 65% of all orders.

  • Sandwich Hag

The restaurant promotes the individuals behind their company to humanize the consumer experience. How can you use it?

The study reveals that 55% of people find stories more persuasive than facts and data. Try posting about what happens behind the scenes in your restaurant, and see how your audience responds to this tactic.

Customer Experience - Food

  • Steak’ n Shake

Everyone knows the importance of email sign-ups. So do Steak’ n Shake. That’s why the company uses its Instagram profile to direct visitors to their email sign-up. On top of that, they add an enticing incentive – a free shake to everyone who signs up.

On their Instagram, you can see many professional food pictures and photos of guests and staff, which also keeps people interested in the restaurant.

Summary

Here’s the restaurant marketing ideas list in full for your reference:

  • Integrate online reservation platforms such as OpenTable, Resy, Eat App, and others
  • Add a reservation link to Google Business
  • Send personalized emails based on customer history with your restaurant and before b-day
  • Use a professional email signature with CTAs (add links to a menu or online booking)
  • Hire a professional food photographer
  • Cooperate with bloggers and influencers
  • Reward your customers for reposts and sign-ups
  • Show what happens behind the scenes to humanize the consumer experience.

The Best Careers in Today’s Economy

The careers that were high-paying and stable in years past are not always the ones that are stable and high-paying now. Then, in 2022, if you are finding it difficult to differentiate between the best and worst career options to withstand the fluctuations of today’s economy, here is a list of some of the best careers that you should pursue if you want to make a choice about your career that keeps the economy in mind.

Careers

1.   Teachers

Until the invention of robots that can impart knowledge to others, teachers will always be needed worldwide, whether you decide to train within your country or opt to teach a foreign language abroad. Teachers do not always get a high salary. However, there is a clear career progression that they can follow to become top of their faculty and even to become the leader of the school that they teach in. Then, if you want to help the next generation to learn and to be inspired, you should consider investing in an MA Education from an online university or college. This Master’s degree can help you to improve your teaching skills and to prepare you for leadership positions, opening up roles to you that can offer you a competitive salary and the ability to change the academic lives of the children in your care. One great factor of an online degree, too, is that you can study for this at home at the same time as getting the experience that you need in teaching.

2.   Healthcare Professionals

As well as teachers, other roles that are always required and that are hardy against economic change are those in healthcare. However, people will usually pay more for their healthcare than they would for their education. There are many options that you can choose from in terms of a healthcare career, from becoming a family nurse to becoming a surgeon or anesthetist. These professions can allow you to help those in need and to find meaning in your job while being able to receive some of the highest salaries in the country, especially if you take on a specialist role that requires years of training, such as that of a pediatrician. Those in healthcare are also paid a lot because there is a shortage of healthcare professionals in the USA and across the world. This means that your skills will be in demand and that there will be a wealth of different opportunities open to you in the field.

3.   Tech Jobs

With the advent of technology, along came a host of new jobs to help develop and manage this tech, and these jobs look as if they are here to stay, with new technologies being created all the time. It can be difficult to find and get these jobs, though. Not only this, but it often takes a lot of training and skill to excel at these tech jobs, many of which people have not had time to learn yet. This means that if you do have the right skills, you can scoop up a giant paycheck. However, it is important to realize that by the time you have learned the right skills or gone to college or university, tech might have moved on, and the skills that you have only just got qualified in might be old news and unnecessary now. Then, it is important that, if you want a tech job, you can predict the future of tech and the direction that it is heading in, and continue to learn constantly even if you believe that you have all of the skills that you need to progress.

4.   Financial Worker

One sector that is always high paid and can bring you a great assortment of job prospects is the finance. The finance sector is filled with excellent career choices, such as that of a financial analyst or an accountant, and it is often in demand as many business people, and other individuals struggle to manage the financial side of their businesses and lives. Not only this, but if you excel in the finance sector, you might even consider opening up your own business or becoming self-employed. For instance, you could become a financial advisor or an accountant, working completely for yourself and taking on the clients that you want to. However, if you do this, you must take into consideration that you will have a lot of business expenses, and you may get a smaller salary at first as you have to build up your reputation, client base, and marketing schemes from scratch.

5.   Law

When you are thinking about the best career choice to opt for in today’s economy, you might also consider whether a career in law is the right option for you. Lawyers are in great demand and often open up their own practices, which can help them to make a large salary. However, it takes many years to become a lawyer, and you must be incredibly dedicated to your field to excel in this sector. Being a lawyer comes with a certain level of prestige, though, and you are likely to be able to find endless work through networking events, social media, and advertising your services on your own website. You will often have to choose an area to specialize in, though, and this can be anything from criminal law to corporate or family law, depending on your interests and the option that you think that you would find success in.

Deciding which career to opt for in today’s economy can be difficult. This is especially difficult as it is ever-changing, which can make it even harder to find a career option that can give you the salary and the stability that you need to be content with your decision both now and in the future. However, from jobs in tech to healthcare professionals, there are always careers in which you can excel in and find progression in once you have gained the right skills and qualifications for them.

Recovering Malaysian Business

Having reached almost every country across the globe, the social and economic side-effects of the COVID-19 pandemic took root in national economies and businesses of all sizes, as seismic change, tumbling stock markets and rising unemployment necessitated a greater need for rapid response solutions across the globe.

Source: https://www.pexels.com/photo/crop-person-showing-signboard-on-window-5410138/

Data from the period between October 2020 and January 2021 (against pre-pandemic levels) showed that a quarter of companies saw sales drop by 50%, although despite the initial impact, many firms managed to retain workers (around 65%) through reducing wages, hours or by granting leave, resulting in only 11% of companies laying off workers (Worldbank).

Opening Up

Partway through 2020, the Asia Foundation asked owners of MSMEs as to how they were able to navigate the pandemic while staying afloat. At the time, over half of all MSMEs in Thailand, Lao

PDR, Malaysia, and Timor-Leste had either shut down completely or were closed to customers, with Malaysian MSMEs being hit hardest (with just 5% of businesses running as “normal”).

With Malaysian COVID-19 cases still fluctuating, the country is now open for business, albeit tentatively. With disruption to travel still prevalent across the globe and a notable absence of overseas guests, Malaysia’s normally-flourishing hospitality industry has slowed considerably.

Staying Afloat

Other business types have fared better: at  the outset of the pandemic, micro, small and medium-sized enterprises (MSMEs) across South East Asia were relatively quick to respond. Representing between 97% and 99% of all firms and between 60% and 80% of total employment, smaller businesses were able to demonstrate a greater degree of resilience, flexibility and responsiveness, due in part to their size.

However, despite relative success in reducing public health risk throughout 2020, lockdowns had a major impact on households and small businesses alike. Many MSMES reported revenue losses of over 50% by comparison to levels prior to Covid. As with other brick and mortar outlets, low customer traffic led to closures (some permanently). Those which remained open received significantly reduced footfall, with additional limitations due to reduced pay and changes in working conditions.

Moving Forward

In response to the economic crisis, Southeast Asian governments responded by producing a series of programmes to support those most affected by the widespread disruption, including schemes offering financial support (primarily to small businesses). However, as the Asia Foundation reports, in hindsight these could have been optimized to be more effective.

KPMG outlines four stages on the path to recovery for businesses worldwide: the ability to react quickly, resilience, recovery plans and the capacity to adapt to a changing “new reality.” In addition to government support offering  tax-relief holidays and subsidies, lessons learned during previous waves can potentially be used to develop more effective future programmes.

Steps Towards Recovery

From a business perspective, there are three key ways to approach the current crisis. Firstly, a collaborative approach offers benefits to both parties,helping to increase both the reach and impact of two businesses working alongside each other.

Secondly, organizational agility is now viewed as essential to all businesses. Through formulating contingency plans and by preparing to deal with unknowns, businesses are better equipped to steel themselves against further closures. Finally, digitalization can be an effective way to create additional flexibility, though it is not by any means  a complete solution in and of itself.

If you are considering a career shift towards a role in the business sector, studying an MBA Online in your chosen business specialty field can help guide you towards the job you want.

AIM 2022 Launches Prizes for Startup Pitching Competition

  • The Annual Investment Meeting 2022 has announced prizes for Startups attending the pitching competition.
  • The Annual Investment Meeting will serve as the premiere platform for Startups planning to scale up & expand to Dubai.

The world’s renowned and leading investment platform, The Annual Investment Meeting, will be providing prizes for startups at the startup pitch competition. The initiative will support and bring numerous opportunities, facilitate growth and future developments among global startups. The next chapter of the Annual Investment Meeting will be held on 29 – 31 March 2022, under the theme “Investments in Sustainable Innovation for a Thriving Future”, and will provide a powerful platform for startups to maximize their potential, expand their network, and grow globally.

AIM 2022 Startup competition

The Annual Investment Meeting’s Startup Pillar will host Live Pitching sessions, with the participation of the startups who will be physically exhibiting at the Dubai Exhibitions Centre at EXPO 2020 Dubai, or digitally via state-of-the-art virtual events platform, Events10X.

Startups will get the opportunity of networking with key industry figures, engaging with clients & investors, showcasing their innovations & B2B Matchmaking. The startups pitching competition will be based on the 3 tier Round of Funding format featuring various startups globally in the Pre-Seed, Seed & Series A funding categories. Startups will get the chance to win up to 110k AED in cash prizes and secure funding from global accelerators and Venture Capital firms.

The Annual Investment Meeting 2022 will also provide a virtual access to startups to gain maximum exposure and get connected with local and international investors from more than 170 participating countries, offering them abundant opportunities to find new sources of funding and financing solutions for their business. 

The Annual Investment Meeting 2022 strives to support all economic sectors by opening numerous doors of opportunities to the world, as a dynamic roadmap to recovery from COVID-19, as it highlights six multi-faceted pillars including Startups. With AIM’s pillars, AIM 2022 actively supports businesses, multinational organizations, regions, and countries during the rapid shift of the economy by extending its scope and not only by focusing on FDI. AIM 2022 is highly agile, and will serve as a dynamic gateway to jumpstart economies and boost economic productivity.

Across the globe, startups play a crucial role in developing new industries and creating innovative ideas. AIM helps startups by mentoring early-stage venture investment or seed funding. The Annual Investment Meeting 2022 will also provide virtual access to startups, providing them with the opportunity to gain maximum exposure and get connected with local and international investors from more than 170 participating countries, giving them abundant opportunities to find new sources of funding and financing solutions for their business.

Globally, startups contribute significantly to economic development and job creation. By 2030, the number of startups around the world is expected to increase and will create more than 600 million jobs. A wide range of activities await participating Startups at AIM 2022, such as World-Class Conferences and Workshops. Startups can explore innovative strategies and practices led by more than 300 high-level speakers which include, world leaders, ministers and heads of distinguished local and international organizations. The Exhibition will be participated by the best local and international exhibitors with the goal of achieving economic growth for their respective country and region.

According to start-up data platform MAGNiTT, MENA-based start-ups attracted $1.03 billion in investments in 2020, an increase of 13 percent from 2019. The UAE received 56 percent of all investments regionally. The region’s startups typically received funding from friends and family to get off the ground. An increase in the number and awareness of angel investors is making it easier for entrepreneurs to approach them for funding. In August, Mena startups raised over $ 160 million across 44 deals, bringing the year’s total to $1.78 billion. A total of $83.6 million was raised by 14 startups in the UAE, helping the UAE maintain its top ranking in the region. 

AIM 2022 will provide businesses, governments and civil society with an independent and future-oriented platform to amplify their efforts influencing and facilitating multistakeholder interaction and impact. The Startup pillar will connect keen investors looking for new avenues and investment projects in a sustainable and innovative environment, as well as governments looking for startup projects to increase their economic growth.

About the Annual Investment Meeting

The Annual Investment Meeting (AIM) is an initiative of the UAE Ministry of Economy, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai. AIM is the world’s leading investment platform with over 16,000 participants, over 400 exhibitors and co-exhibitors, 60+ high-level dignitaries, 150+ investment specialists and experts in 2019.

5 Skills Needed for Success in International Business

5 Skills Needed for Success in International Business
Photo Courtesy of Pixabay.com

International business is so much more involved and politically charged than it was even a decade ago. The need for a unique set of soft skills to help you navigate the international scene has become essential. While you still need to be an efficient negotiator and have analytical skills, the more subtle skill set will make a difference to your success. 

To remain competitive on the international stage, new graduates must have critical soft skills to help them relate to their colleagues and clients. Corporate management is still looking for those that excel at the technical skills but are also interested in candidates that are proficient in networking, adaptive thinking, and collaboration.

With inclusive programs from MBA Discovery, future business associates will learn how to adapt to the changing world of business. Let’s take a look at a few of the crucial soft skills that will help you succeed in international business.

Cross-Cultural Communication

Thanks to the reach of the internet and the convenience of modern travel, companies are doing business across the world. Your role in any industry will include working within a diverse environment. Finding ways to communicate across cultural lines effectively is essential to your success. You will need to keep an open mind, respect differences, and have a high level of appreciation for different cultures, traditions, and religious beliefs. 

Networking Abilities

Developing a collaborative network outside of your home country is essential to success in today’s business world. When you have a strong international network, you are often afforded opportunities you would never have otherwise. Online platforms like Linked In make networking across the globe an easy task. Making lasting connections requires diplomacy, excellent listening skills, and mastering your elevator pitch to be sensitive to all cultures. 

Adaptive Thinking

To be an effective adaptive thinker, you must hone your skills, including tact, impulse control, and humility. Having the ability to think outside of the box can help you to thrive in any international environment. When things change quickly, adaptive thinkers can control their impulses and come forward with a thoughtful solution. 

Resilience

You need to be mentally tough and need to be able to bounce back from the long hours and regular travel that a career in international business demands. Changing time zones, long meetings, and late hours can take a toll. You need to build up your resiliency to be at your best with your international colleagues and clients. 

Emotional Intelligence

Becoming a self-aware and confident business person will help you in your international dealings. Being able to control your emotions in various tense and serious situations will gain you respect from your peers and customers. Strong empathetic skills, a listening ear, and flexibility are all critical aspects of emotional intelligence.

If you are entering the realm of international business, you need to up your game to succeed. Strengthening your soft skills, including your networking abilities, being an adaptive thinker, heightening your emotional intelligence, and increasing your resiliency can assist you in becoming a successful international businessperson. 

Is Credit Repair Good or Bad?

You’re ready to make some major moves in life that require the best credit report you can muster. Well, you now have decisions to make. To wit, you can try to shine up your credit yourself or you can hire a credit repair agency. But is credit repair good or bad? Let’s take a gander.

Is Credit Repair Good or Bad?

The Issue

It’s difficult to move forward with too many negative marks on your credit reports, so it’s understandable that you’d want them removed. However, what you need to know is that, if you have the time, patience, and persistence, there’s nothing a credit repair agency can do that you can’t. 

However, if the unfavorable items on your reports are accurate, they technically cannot be removed, and if you wait, they’ll fall off naturally in due time. Now, some companies can sometimes gum up the works to such an extent that the negative entry is extracted. However, this is a poor strategy and hardly ever works.

Let’s take a holistic look at credit repair.

Just What is Credit Repair?

At its essence, it’s hiring a credit repair organization to get info expunged from your credit reports. Most such firms tout themselves as being able to help you make unverifiable or incorrect info on your credit reports disappear. 

The real deal, though, is that most companies try to also get negative, albeit correct, data off your reports before they, at length, drop off by themselves. Check out lexington law reviews to see what’s said about that leading credit repair company.

How Do I Know I’m Getting a Legit Company?

That’s a good and proper question, since scams abound in this industry. There are bad actors out there who seek to take advantage of existing financial and emotional vulnerabilities of people like you. The good news is that you’re protected by the federal Credit Repair Organizations Act, which sets forth what credit repair agencies can and cannot do.

For example, such companies may not:

  • Counsel you to make erroneous statements to the top credit reporting agencies: Experian, Equifax, and TransUnion.
  • Suggest that you alter your identity to block the credit reporting agencies from linking you with what’s on your credit reports.
  • Charge you up front, before they’ve performed services on your behalf.
  • Guarantee that it can get info from your reports removed.

Likewise, credit repair outfits are required to disclose to you the following:

  • You do have the right to, for free, dispute information in your credit report.
  • You can file a lawsuit against it if it breaches the Credit Repair Organizations Act.
  • While it will do its best to act reasonably to make sure the info on your reports is correct, mistakes are sometimes made.

How Much Does Credit Repair Cost?

It depends on the company, but credit repair companies generally either bill you at month’s end for services rendered during the past month or charge you per delete.

With the former, a kind of subscription service, you can expect to pay $50 or $100 monthly. Here, such companies are incentivized to keep you around for as long as possible. With the latter, “pay for delete,” the company doesn’t bill you until it gets an item removed.

So, is credit repair good or bad? The answer mostly depends on what you truly want. If you’re looking to have inaccurate or unverifiable information removed from your credit reports, but aren’t inclined to tackle the task yourself, then, sure, hire a firm. However, paying a company in hopes that, somehow, it can get adverse but accurate info removed is frankly a fool’s errand. If you can’t wait for the item to drop off by itself, perhaps you need a different financial strategy. 

How Can Cloud ERP Solutions Help Manufacturing Businesses?

The manufacturing industry is super dynamic and highly competitive. There is continuous stress on manufacturers to adopt newer ways of conducting their business.

To run a successful manufacturing business, owners must focus on achieving multiple parameters such as,

  • Proper forecasting of customer needs
  • Right control over inventory
  • Efficient management of sales leads
  • Zero wastage
  • Optimised ROI

A cloud ERP solution like https://www.netsuite.com.au/portal/au/products/erp.shtml can handle manufacturing concerns efficiently. It can also aid in achieving the success parameters more effortlessly. Read on to find out how implementing a cloud ERP system can help your manufacturing business.

Enhanced Inventory Control

The ERP solution streamlines your supply chain and ensures customer demand is always met promptly. By using the supply chain management module, manufacturers can build optimised logistics strategies. With access to real-time data, there is greater accuracy in forecasting and lower inventory costs.

Improved Decision Making

The ERP solution represents a centralised view of all business operations. The central hub offers essential information about sales, customers, finances, labour management, etc. Stakeholders can make use of the data on a real-time basis to make an accurate decision. An ERP solution is the key to making perfect forecasting and budget plans.

Better Quality Management

Quality control is a critical aspect of any manufacturing process. The cloud ERP solution includes in-built features adhering to optimal quality standards. It improves process and product quality by maintaining related documents in the centralised hub. The documents include standards about manufacturing processes, audits, safety management, and employee training and management.

Better Data Storage

ERP systems eliminate the need for error-prone, redundant manual processes. With a sound ERP solution, your data is cleaned and processed efficiently. The data is then stored using the highest levels of security and privacy parameters.

Manufacturers can access the data from any location, using any device. The access controls are well-defined to ensure the optimal safety of data.

Optimised Customer Relationship Management

Manufacturing companies must stay connected to customers consistently and understand their impulses. The CRM module (customer relationship management) of the ERP solution ensures optimised customer satisfaction.

CRM improves customer response time. It helps the sales team to track and follow up with leads easily. It captures customer interactions from multiple sources and ensures that the customer is presented with the right product at the right time. 

Better Supplier Collaboration

The ERP system takes care of your supplier relationships too. With an enhanced internal communication system, your team is well-prepared to handle suppliers from any part of the world. ERP reduces response time, helps track down issues promptly, and aids in resolving the problems with proper damage control. 

Enhanced Revenue and Better Cost Control

An ERP solution can improve business revenue and help with cost reduction in multiple ways. Some of them are,

  • Automation of tasks leads to lowered labour costs.
  • Unlocking newer revenue streams by helping the business go digital.
  • Optimised inventory management that cuts down operating and administrative costs.
  • Better control over the quality of products makes business growth inevitable.

Cloud ERP System versus In-House Deployment

Some manufacturers believe that an in-house ERP system offers better control over their data and operations. This is, however, not true, and the cloud ERP solution is always the winner. Here are some of the critical benefits of a cloud system.

  1. Automatic upgrades
  2. Access to real-time data from any place and any device
  3. Lowered costs
  4. Saves more time
  5. A cloud-based solution is easily scalable
  6. Shorter deployment times

However, you cannot achieve the multiple benefits of an ERP system for manufacturing companies by simply deploying any software solution.

A trusted solution ensures 100% profitability and business growth.  Explore the critical modules of ERP solutions and find out the different ways it can help your business grow.