Conferences

The UAE sits among the top 20 economies for FDI in the world: Annual Investment Meeting (AIM 2022) kicks off today (29 March 2022)

Author ByCFI.co Blogger

International participations of more than 174 countries demonstrate global economic recovery post Covid-19

Expo 2020 Dubai, UAE, 29 March 2022: Held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, the Annual Investment Meeting (AIM 2022) was inaugurated today (Tuesday, March 29th, 2022) by HE Abdulla Bin Touq Al Marri, UAE Minister of Economy at the Dubai Exhibition Centre, Expo 2020 Dubai where it was attended by representatives of official delegations and participants from more than 174 countries.

The strong response on the first day of AIM was a barometer of the global economic recovery post Covid-19 as well as the UAE’s global position as a hotspot for investments across the investor spectrum.

Day one of AIM focused on the latest trends in foreign direct investment (FDI) and its growth prospects in emerging markets and the importance of attracting foreign investment driven by a progressive mix of legislation and flexibility in emerging markets.

AIM 2022 presented a platform for decisions makers, officials, investors, entrepreneurs, experts, analysts and academics who gathered under one roof to discuss FDI challenges, potential and growth.

Participants in AIM 2022 had the opportunity on day one to hold meetings, make contacts and share expertise with peers from all over the world. A variety of sessions were held on the first day.

The first day of the three-day event brought together investors, venture capitalists and financial institutions under one roof to participate in discussions, debates and much more.

Day one started with a debate focusing on ‘Investments in Sustainable Innovation for a Thriving Future’, as dignitaries, delegates and the keen-minded alike converged at the Dubai Exhibition Centre.

“Investments in future come at a time when the global investment landscape is changing rapidly thanks to an array of factors such as post pandemic trends, economic priorities and digital revolution; but one fact remains unchanged, FDI plays a significant role in the continuing efforts to achieve economic growth and prosperity,” said HE Abdulla Bin Touq Al Marri, UAE Minister of Economy.

The Vice President of Colombia, HE Dr Martha Lucia Ramirez kicked off the debate as she highlighted the need for “sustainable innovation” and an improvement in the global supply chain, focusing on a more “integrated” solution.

Shifting focus across the region, HE Rebeca Grynspan, Secretary General, United Nations Conference on Trade and Development (UNCTAD) expressed her concern on the lack of development and aid provided to developing countries. “In the developed world recovery went up to 30 per cent but in developing countries only 20 per cent. Developing countries are lagging behind in terms of investment in very important sectors.”

HE Vera Songwe, Under-Secretary-General, United Nations and Executive Secretary, Economic Commission of Africa started off by congratulating Dubai on a “fantastic EXPO” and further added on the “peculiarities” that the African continent faces post pandemic.

“All the ecosystems that support the investment is available in Abu Dhabi that boasts a strong and flexible platform not to mention the easiness of starting businesses. Just plug the business into one of the ecosystems in Abu Dhabi,” said HE Rashed Abdulkarim Al Blooshi, Undersecretary, Abu Dhabi Department of Economic Development.

The debate concluded with the President of the Republic of Tartastan, His Excellency Rustam Minnikhanov, as he highlighted how AIM was progressively gaining traction every year.

“The Annual Investment Meeting is a great platform for us to present investment opportunities for our region, exchange best practices with foreign partners, and make new contacts. Today we heard some informative and engaging discussions and expert opinions addressing a highly important topic of “Investment in Sustainable Innovation for a Thriving Future,” he said.

News of the event has quickly spread with technology and sustainability-driven companies and firms endeavouring to network at AIM 2022. With an hour dedicated to networking over lunch after the debate, high network individuals and company representatives can bolster their corporate framework and build relationships that could help boost business.

“We are looking forward to meeting global startups and entrepreneurs at AIM 2022 and providing them with the market knowledge to propel their startups and take them to the next level and give them not only scalability but the right amount of scaling. Additionally, this is a good opportunity to partner with governments and VCs too create co-investment opportunities to support the UAE startup ecosystem,” said Varis Sayed, Chief Executive Officer at Fincasa Ventures.

Currently, the UAE sits among the top 20 economies for FDI in the world, increasing by 4% year on year. The UAE has set an example by combating every challenge and turning it into an opportunity. Furthermore, the nation has developed its economic sectors to achieve qualitative shifts to a newer and more sustainable economic model, cementing itself as one of the top global economies in the world.

Conferences

Annual Investment Meeting 2022

Author ByCFI.co Blogger

Investments in Sustainable Innovation for a Thriving Future

Dubai Exhibition Center, EXPO 2020 Dubai 29 – 31 March 2022

AIM 2022

Initiated by the UAE’s Ministry of Economy and under the patronage of HH Sheikh Mohamed Bin Rashid Al Maktoum, the Annual Investment Meeting is the world’s leading investment platform, which creates a regional and global economic transformation by providing investment opportunities, upholding solidarity, and developing strong economic relations among countries, investors, startups, SMEs, and all other stakeholders in the global investment arena. The 6 pillars of AIM strive to support all economic sectors by opening numerous opportunities to the world as a dynamic roadmap to economic recovery. The 6 pillars are FDI, SMEs, Startups, Future Cities, FPI, and 50 Projects Initiative.

Register Now

Accounting

Why Should You Automate Invoice Processing?

Author ByCFI.co Blogger

Businesses and organizations process more than a billion invoices annually, and studies show that this number could increase four times by 2035. Fortunately, the growing adoption of procurement technology can help chief procurement officers, suppliers, and accounts payable teams handle this number. Currently, 89% of U.S businesses have adopted digital-first strategies, which include automated invoice processing.

https://unsplash.com/photos/sNwnjxm8eTY
https://unsplash.com/photos/sNwnjxm8eTY

Electronic invoicing is part of AP automation that has proved to be a viable solution to the many challenges associated with invoicing. Outlined below are a few reasons why businesses should take advantage of artificial intelligence in their invoicing processes.

1.  Time-saving

Before the inception of accounts payable automation, the typical invoicing procedure was as follows:

  • The supplier starts by generating the invoice
  • The supplier then sends the invoice to the buyer
  • The buyer prints the invoice
  • Buyer enters and reviews invoice data
  • The buyer approves the supplier’s invoice and writes a check
  • The buyer mails the check to the supplier

Along this process, expect some back and forth between the supplier and buyer if the invoice has discrepancies. That said, the entire accounts payable process may take between 30 and 90 days, including room for errors in the cycle.

Contrastingly, with automated invoicing solutions, approval takes minutes without human intervention. Automated invoices eliminate the lengthy process, reduce errors, and thus eliminate the possibility of late payments. A study by Atradius shows that 87.6% of Western European businesses and 90% of U.S businesses report regular late payments due to past-due invoices.

2.  Saves on cost

The Institute of Finance and Management estimates that businesses spend between $1 and $21 for invoice processing. These estimations were done by dividing the cost of maintaining accounts payable staff by the number of invoices processed within a given period.

Similarly, an Ardent Partner study estimated the average cost of automated invoice processing to be $11.57. This includes overheads, labor costs, and technology. Switching to automated processes reduces printing costs, labor expenditures, mailing overhead, and possibly late fees.

3.  Improve efficiency

Human error in business processes cannot be avoided. Interestingly, more than 16% and 15% of late payments in the U.S and Western Europe respectively stem from inaccurate invoices. Fortunately, automating invoice processing can improve invoice accuracy, consistency, reporting, transparency, and general accountability.

Improving efficiencies of your finance department frees your accounts payable teams to focus on other important tasks. The business also grows safely, with surety that the digitized system can handle the increasing amount of invoices accurately.

4.  Improved compliance

Invoice is among the key documents used as evidence of tax compliance. It also helps validate tax audits, which may be conducted years after a business transaction. Initially, businesses relied on paper documentation, which is most likely to be misplaced. Businesses also had to hire storage facilities and warehouse boxes to store their paid invoices.

On the other hand, copies of invoices are submitted online with automated AP. Original documents can also be submitted to tax authorities with ease. Purchase orders are quickly converted into an invoice, eliminating the risks of manual discrepancies.

Endnote

Invoice management is an important part of financial planning. Members of the AP team can attest that invoice management can take a toll on people, time, and financial resources. Most businesses don’t achieve invoice efficiency for these reasons, affecting business cash flow and bottom line. Shifting to automated invoice processing, saves on cost, and boosts data visibility.

Business

What You Should Know About Executive Recruitment and Working with Recruiters

Author ByCFI.co Blogger

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.

Banking

How Does a Mortgage Work? The Ultimate Guide

Author ByCFI.co

Between the different types of mortgages and the seemingly endless amounts of mortgage paperwork, buying a home may seem overwhelming. But how does a mortgage work exactly? We have all the answers to that mystery and more. 

No home or homeowner is the same, which is why it’s so crucial to understand how to get the best mortgage for you. From how the mortgage process works to some qualification tips, we’ve rounded up all the key mortgage basics. Let’s get started and get you one step closer to your new home.

How Does a Mortgage Work?

A mortgage is essentially a loan taken out from a bank or financial institution to give you funding for a home. You can choose to finance almost the entire home or do a combination of financing and money down.

Whatever money you put down on the purchase comes from your own cash reserves. Money down reduces the amount you have left to pay on the home through your mortgage loan. Your mortgage loan is given with interest rates that may vary or be fixed each month

A mortgage is also considered an instalment loan. This means the payments are paid monthly or bi-weekly in instalments. You’ll pay your principal balance as well as the interest, fees associated with the loan, taxes, and insurance. You may have a mortgage for 30-years, 15-years, or less if you choose.

As the years go by, your mortgage is paid down each month. Once your home is paid off, you’ll no longer have a mortgage and you’ll fully own your home. In the event that you sell your home before it’s paid off, you will need to pay off the loan at the time of the sale.

Failure to pay your mortgage could have serious consequences such as foreclosure. This is why the mortgage qualification process is put in place to ensure you’re in a loan and a home you can comfortably afford. This makes your mortgage less risky for you and your lender.

How to Qualify for a Mortgage

While qualifying for a mortgage may seem overwhelming, it doesn’t have to be. There are a few easy things you can do before you apply to help make the process easier. Creating a budget is a great starting point.

Your budget will help you and your lender determine what loan amount you’re most comfortable with. Start by laying out your expenses and income. Take a look at your down payment amount to see how much you’re comfortable putting down as well.

Next, it’s time to look at your credit and try to reduce any other debt you may have. This is where your budget can help you make a plan for paying off credit cards and reducing your spending. Your credit score will affect everything from your loan terms to your interest rate.

The higher your credit score, the better your interest rate will be. A lower interest rate allows you to pay more of your principal balance. This means more money is spent on interest each month.

Key Considerations When Shopping for a Mortgage

Another key consideration when shopping for a mortgage is how much you’re budgeting for a home. The type of home is also a factor.

A condominium, for example, may have an association fee you pay each month for amenities. This will get factored into your qualification, as it’s a fixed expense you’re responsible for.

If you’re purchasing new construction or a fixer-upper, your loan options may differ as well. When you have a home that needs a lot of work, you may choose to put less down on your home. This will allow you more cash for renovations and repairs.

As you’re going through the application process, look over all the loan options you qualify for. Your bank will need to know your budget, down payment, income, and other factors to help you find the best mortgage for you and your family.

Home Buying Tips

Before you apply for a mortgage, it can be helpful to take a look at your local real estate market. This will help you come up with your ideal home and budget.

You may find your budget gets you more than you think. You may also realize you need to prioritize your wish list.

This is a great time to make a list of what is most important to you in a home. For some, it’s the proximity to a certain school. To others, it’s the commute to work or the number of bedrooms. Your wish list will help you come up with a budget and a target price range as you start to house hunt.

As you start to look at homes, it’s also helpful to get a mortgage pre-qualification. This will allow you to make an offer on a home while knowing what you’re approved for. This helps you know where you stand while also making your offer stronger as a potential buyer.

Getting a Mortgage 101

Wondering how does a mortgage work? You’ve come to the right place. We have wealth management, mortgage, investment, and financial resources to help you make an informed decision.

Your home is likely one of your biggest assets. Read up on mortgage rates, the economy, and the housing market in our wealth management section.

Lifestyle

The Best Age to Retire: A Detailed Guide

Author ByCFI.co

When do you want to stop working? The average age UK adults hope to stop working is 60. However, is this the best age to retire?

Have you begun planning for retirement? People either cannot wait for retirement, dread it, or do not give it any thought. You want to enjoy your job while in it if possible, but retirement also offers an exciting new chapter in your life.

People often wonder when to retire. The answer to that question comes down to several factors, including your retirement planning strategy. Read on to learn more about when to retire and retirement tips. 

What Is the Best Age to Retire? 

Although there are national averages for retirement in different countries, they are not necessarily the best retirement ages. People actually retire at various ages, from the early thirties or earlier to not retiring at all. 

The best age to retire comes down to your personal needs and circumstances. You will know when to retire based on several factors. 

When to Retire

Retirement can feel like a distant goal you do give much thought about. However, you can determine when to retire with the right retirement planning. There are several factors to consider when deciding when to retire:

  • Your financial circumstances
  • Your retirement plans 
  • Your lifestyle choices
  • Your health

You want to enjoy your retirement years, so if you do notice your health declining, it may be time to consider retirement planning or at least to reduce your workload. This is not always possible for people, but prioritise your mental and physical well-being if you can.

When you can retire will also be determined by your plans for retirement and your finances, such as what pension you have. Some pensions, such as the state pension, are available at specific ages.

How Much Do You Need to Retire? 

How much money you need for retirement depends on several factors, such as your financial commitments and lifestyle choices. 

An excellent place to start working out your financial needs is to consider the minimum income you need to cover your outgoings. Outgoings include everything from your mortgage or rent payments to your transport and utility bills. Then factor in non-essential items you would like, such as eating out, travel, and gym memberships.

You can then look at your current retirement savings, whether you are entitled to the state pension in your country, and any other pensions you have. You can then work out the age you can retire. Working out your finances also helps you plan to save more to meet your retirement goals or realise you can retire earlier. 

It is best to use a spreadsheet format or consult with a financial advisor to model how much you will need for retirement. They will provide investment advice and check any financial plans you have made. 

Tips for Retirement Planning

So, you have an idea of when you want to retire, but how can you make it happen? It is essential to spend time planning retirement, no matter your age. You will thank yourself at a later date. 

Take Financial Action

Once you have worked out your finances, do not just accept the outcome. You can then consider ways to change your current financial circumstances. For example, there might be a few cost-cutting opportunities so you can retire earlier, such as using a more economical vehicle and stopping subscriptions you do not need. 

You can also consider working for a few more years, taking an extra part-time job, making money from a hobby, or considering other ways of saving and investing. 

Think Outside the Box

If you underestimated how much money you need for retirement or want to retire earlier, take the time to think outside the box. Just because you cannot afford to retire early in Europe or the US does mean you cannot relocate elsewhere.

Many retirees opt to move abroad, often to countries with more affordable lifestyles. You can move to a country with affordable property, great weather, things to do, and friendly locals. Your quality of life will likely be better too, which is what you deserve after working hard for many years. 

Read Retirement Planning Books 

For many people, retirement is the first opportunity to stop and relax. While this sounds appealing, it can be disconcerting for some who do not have retirement plans. In fact, retirement can cause depression and anxiety when people do not plan.

To reduce this risk, spend time reading retirement planning books, so you know what to expect. They will also highlight factors you may not have considered, such as changing locations or downsizing once you retire. 

Try New Hobbies

It is beneficial to try new hobbies no matter what our age. Start trying hobbies now, so you already have established a sense of meaning outside of work when you retire. Hobbies can include joining a club, volunteering, gardening, learning a language, or a musical instrument.

Include Loved Ones

When you are retirement planning, be sure to include loved ones. They may also have retirement savings that can alter when you can retire. But they also should be aware that there may be some lifestyle changes, either before or once you have retired. 

Find the Best Age to Retire

There is no one best age to retire. It differs depending on the individual. Everyone has different opinions about the best age to retire too, as some people cannot imagine stopping working, whereas others cannot wait to start the next chapter of their lives. 

One of the most important retirement tips is to start retirement planning; the earlier, the better. Then you can have more control over when to retire and afford the lifestyle you want.

Find more insightful content on finance, economics, and business from the CFI.co blog. Subscribe to the CFI print magazine to receive a yearly subscription of four quarterly issues at your doorstep.

Business

7 Great Reasons to Start a Business Right Now

Author ByCFI.co

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. 

Business

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

Author ByCFI.co Blogger

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.
Investment Management

A Guide to Investing During High Inflation

Author ByCFI.co Blogger

When you invest, no matter the larger economic conditions, you always want to ensure you’re diversifying your portfolio.

investing

This is a concept that major corporations and wealthy people understand well. For example, corporations like UBS invest in blue-chip art. Many of these banks and global companies have full-time curators for their collections in order to diversify their investments.

While you may not be a multimillionaire or a global bank, the principles of diversification are critical to a good investment strategy. Your approach may also need some tweaking during periods of high inflation, like what we’re in now.

The following are things to know generally about inflation and how it might affect your investment strategy and approach to diversification.

An Overview of Diversification

A diversified portfolio is one with a broad mix of different types of investments. The longstanding wisdom was a 60/40 portfolio where you allocated 60% of your capital to invest in stocks, then 40% of your portfolio went to fixed-income investments, such as bonds.

There are opponents of this approach who feel there should be more stock exposure, particularly for younger people.

Overall, with a diversified portfolio, you might hold a wide variety of healthcare, energy, and tech stocks, as well as some from other industries. You don’t need exposure to every sector, but you should have a pretty varied portfolio made up of a healthy mix of quality companies.

You also want to have a combination of divided, large-cap, small-cap, growth, and value stocks.

Then, in addition to diversification in your stock portfolio, you want investments included in the mix that aren’t correlated. That means these investments don’t go up and down with the stock market.

Crypto, art, gold, bonds, bank CDs, and real estate are all examples of non-correlated investments.

What to Know About Inflation

Inflation is an increase in the overall price of goods and services. Inflation is measured as an annual percentage increase. The annual percentage increase is reported in the Consumer Price Index or CPI, which the U.S. Bureau of Labor Statistics prepares monthly. When inflation goes up, purchasing power goes down.

The rise of inflation affected fixed-asset values, and companies will raise their prices to compensate for their own rising costs.

As a consumer, you’re paying more across the board for goods and services. If you have certain assets, like a house, inflation can be a good thing. Your income may also rise, although maybe not enough to keep up with inflation.

Inflation increases the cost of living, and if it gets too high, it harms the economy.

The effects on the economy largely depend on the type of inflation. Walking inflation ranges from 3-10% a year while creeping inflation isn’t as dramatic. Running inflation indicates very aggressive pricing increases that might be leading to hyperinflation.

Rising prices might indicate the economy is growing very quickly. People then tend to stockpile and overbuy because they want to avoid future higher prices, and suppliers can’t keep up with demand, nor can wages. Everyday goods and services could be out of reach for many people in situations with severe inflation.

Inflation doesn’t always have to affect everything in the same ways. For example, during the financial crisis of 2008, home prices went down almost 20%, but gas prices doubled.

Mild inflation can be good for the economy because consumer spending is propelling economic growth.

The Federal Reserve sets an inflation target, with a healthy core inflation rate considered around 2%, taking out the impact of energy and food prices.

Other specific effects of inflation can include:

  • Inflation can have negative effects on retirement planning. The amount you target to save has to go up in order to pay for the same quality of life. Basically, your savings is going to buy you less over time. You have to start saving as soon as possible for retirement to utilize compounding interest, and you should use other strategies as well to hedge against inflation’s effects.
  • Treasury bonds are fixed-income assets that pay the same every year. If inflation goes up faster than the return on this asset, they’re less valuable. People will then try to sell them in response, bringing down their value further. The U.S. government has to issue higher Treasury yields to sell them, so mortgage interest rates often go up as a result. Higher rates lower the value of your investment, and the interest on national debt rises.
  • If you have a fixed-rate mortgage, inflation can be beneficial. The value of the monthly payments you make on your mortgage goes down over time.
  • If you have debt with a variable interest rate, you’re probably going to see that your minimum payments go up as inflation increases. This is most often the case with high interest credit cards but can apply to mortgages with a variable rate.
  • If you’re trying to buy a house, inflation has negative effects because their prices will typically rise along with inflation.

How Do You Invest to Protect Against Inflation?

When you’re an investor, you have to think about the best ways to hedge against inflation. You can plan for it by investing in asset classes that outperform the market during times of high inflation.

The following are particular investments to consider to protect against inflation:

Art

When you invest in art, it is a good hedge against inflation, and it also diversifies your portfolio and reduces volatility.

Many investors assume they’re not wealthy enough to get involved in the art marketplace. In reality, it can be accessible for anyone.

There are even new platforms that allow investors to own a piece of blue-chip art, much like an ETF.

Art is an asset class not correlated to other major asset classes, so this means if you have traditional assets like stocks or bonds that aren’t doing well, your art investments are more likely to hold their value.

Since art can be a physical asset, it tends to do well in inflationary periods.

Of course, any investment carries risks, but unlike equities which are sensitive to movements in the market, the art market as a whole has been growing steadily.

There are downsides you have to think about, like the lack of liquidity. Selling a piece of art can be time-consuming, which is why options that allow you to buy fractional shares are appealing, in addition to the lower point of entry.

Gold

Gold can serve as a hedge against inflation, and some describe it as an alternative currency, especially in places where the value of the native currency is declining.

Gold is a physical asset that largely tends to hold its value.

If you want to invest in gold to protect against inflation, you have three primary options. You can buy the physical asset, meaning you buy actual gold. You can buy shares of an ETF or mutual fund that follows the price of gold, or you can trade in the commodities market. Trading futures and options in the commodities market is usually left best to highly experienced investors.

While gold is an option, it’s not a perfect inflation hedge. For example, when inflation goes up, central banks will usually raise interest rates. If you have gold, it doesn’t pay a yield, so it’s not going to have as much value as an asset that does, especially when rates are higher.

Commodities

Commodities are a category including things like grain, electricity, oil, beef, orange juice, and natural gas. Commodities also include foreign currencies and financial instruments.

Commodities are an indicator of future inflation, so as their price goes up, so does the price of the products it’s used to produce.

You can invest in commodities through an ETF.

They’re very volatile and highly dependent on supply and demand, so it’s best suited to more sophisticated investors.

Real Estate Investment Trusts (REITs)

A REIT is a company that owns and also operates real estate-producing income. When inflation rises, property prices and rental rates tend to go up. When you invest in a REIT, it’s a pool of real estate. As an investor, you’re paid dividends.

REITs can be good to include in your portfolio, particularly during inflationary periods, but they can come with some downsides. For example, when interest rates go up, Treasury securities become more appealing, taking funds out of REITs. REITs also have to pay property taxes, which can be as much as 25% of operating expenses.

Real Estate

Finally, investing in real estate can, in some cases, be a hedge against inflation. You can earn income by renting out a property because, as we’ve touched on, when inflation goes up, typically so do property values. That means if you’re a landlord, you may be able to charge more for rent.

You can keep up with rising inflation.

Of course, this isn’t a guarantee, and real estate isn’t liquid. Plus, if you buy a property, it’s going to require maintenance, and the costs can add up fast.

The best thing you can do when it comes to investing during inflation is to think about your goals and the direction you’d like to take and make sure you have a good mix making up your portfolio.

Investment Banking

How Much Do You Need To Invest in Real Estate?

Author ByCFI.co

In an overwhelming majority of countries, real estate costs continue to rise due to low-interest rates and supply chain disruptions. 

Yet, while housing prices are sky-high, investing in real estate has never been easier. You might think buying real estate is only for the wealthy, but you would be wrong. 

The truth is, you can start buying real estate investments for as little as $1,000. Don’t believe me?

Then keep reading as we explore the question, “How much do you need to invest in real estate?” We guarantee it’s feasible for you. Besides, one of the best investing tips is to diversify your portfolio, which real estate will help you do. 

Real Estate Investment Trust (REIT)

The cheapest way to invest in real estate is through a REIT. They allow you to invest in real estate without the actual real estate. 

What does that mean?

REITs are similar to mutual funds as in they are securities. Investors trade REITs on major exchanges like stocks. REITs own commercial real estate like:

  • Apartments
  • Hotels
  • Office buildings
  • Retail spaces
  • Shopping malls

Most REITs specialise in a particular type of real estate or specific region. 

REITs offer a high dividend and a liquid way to invest in real estate. In addition, it’s easy to reinvest dividends to grow your investment further. 

When investing in REITs, experts say to stick with publicly-traded REITs, which you can buy from brokerage firms. 

As mentioned, you can invest in REITs for $1,000! 

Real Estate Investment Group (REIG)

If you’re an investor who wants to own physical real estate rather than shares of a company, then you may want to consider an REIG. 

An REIG allows you to buy one or more units in an apartment or condo building via an operating company. The operating company manages and markets the units. Then, the operating company takes a percentage of the monthly rent. 

REIGS are a cost-effective way to invest in real estate because you don’t have to succumb to the management work. 

Some partnerships accept investments as low as $5,000 or up to $50,000. So while it’s not enough to purchase a property, when several investors come together, they can co-own property and make a profit. 

If you want to invest in an REIG, you want to look for one that pays a monthly cash return on your investment. 

Crowdfunding

Similar to REIGs, crowdfunding is becoming more popular in real estate investing. It allows you to pool your money with other investors to fund commercial real estate investments. 

For example, a developer wants to buy an apartment complex for $3mn, make $1mn worth of renovations, and resell the complex for $6mn. 

The developer can borrow $2mn from the bank and contribute $500,000 of their own money, but they still need $1.5mn for the project. 

They can raise the rest of the capital via crowdfunding. Those who invest will share the profits. You could be one of those investors. Each crowdfunding project has its own minimum contribution. 

A typical contribution amount is $25,000, far less than outright buying a property. 

Buy Property

Of course, you can also buy property as a way to invest in real estate. In general, this will require more money upfront. However, you can buy a property with as little as 3-5% down, depending on the location and lender. 

If you choose to invest in property by buying directly, know that it is time-consuming but can see considerable returns. You can profit from purchasing property in two main ways: becoming a landlord or flipping. 

Rental Properties

Becoming a landlord can offer long-term income and capital growth. But it’s also a lot of work. You need to find and vet tenants, keep up with property maintenance and continue paying the expenses. 

It’s a good investment if you have the time and money to manage the property. It’s even better if you can afford to hire a property management company so you can focus your time on other investing projects.

Fix and Flip

If HGTV is famous for anything, it’s flipping houses. When flipping, you buy a property, revamp it, then resell it. 

The best way to flip properties is to find the unvalued ones. This means looking for foreclosed homes, short sales, and abandoned properties. This is because you want to pay the least amount possible for a property to maximise your return after remodelling.  

When flipping, you go through a different loan process. It’s best to pay cash, but if you need financing, you’ll want to have some wiggle room. Every property has different funding requirements based on its current condition.

If you have enough money to pay cash or put down a large downpayment comfortably, it’s a good investment option.

Fees When Buying

While purchasing a property with 3-5% down is possible, it’s not always the best financial decision. You could be left with a higher interest rate, and your mortgage payments will be bigger. 

If you’re able to put 15-20% down, it’s a better choice to do so. Going into debt to make money requires balance and strategy. Borrow too much money, and you may fail to pay it all back. 

Additionally, when buying a property, you have to remember you’ll be responsible for paying all the fees, not just the mortgage. This includes:

  • Closing costs
  • Property taxes
  • Homeowners insurance
  • HOA fees
  • Maintenance and repairs

If you rent out the property, these fees will remain your responsibility. However, if you sell the property, you won’t have to continue paying them once you sell.

But, you must factor these costs into your budget because you need to pay them as long as you’re the owner. 

How Much Do You Need To Invest in Real Estate, Explained

To invest in real estate, you don’t need a lot of money. A few thousand dollars can help you generate wealth and move on to bigger and better-investing projects.

Rather than pondering the question, “How much do you need to invest in real estate?” take the money you have and find a viable investment. 

If you’re still unsure about getting started, check out our real estate investing for beginners article to help you.