Gregory

Every business owner knows that extending services to potential customers comes with a certain risk. Despite conducting a credit check, there will come a time when some customers will be late with payments, or worse completely stop paying. When this situation occurs, the company has two options:

• Cut ties with the customer and bear the loss
• Attempt debt collection personally or through a debt collection agency

But when it comes to collecting unpaid debt, many companies find it hard to determine the best time to entrust the responsibility to the experts. This article will discuss the signs which point toward deciding to hire a debt collection agency.

Difficulty finding the debtor

When the debtor is still responsive to phone calls, letters, or emails, it is a sign that the debtor still intends to pay. However, when tracking down a customer who has unpaid debt has become difficult to the point where the person already severed all points of contact, it is time to hire an expert debt collector to track them down. Debt collection agencies have access to tools which they use to help you find people and proceed with collecting a debt.

How long is the debt past-due?

The policies vary from one company to another, but the general rule is that you can turn the debt over to a collection agency when it is more than 90 days overdue. Although it is possible for in-house collections to collect a payment successfully, there are times when the debtor becomes increasingly uncooperative. Hiring a debt collection agency increases the chances of getting the debtor to address the concern faster.

Multiple bounced cheque payments

Another sign that it is time to hire a debt collector is when you have received numerous payments that bounced. When this happens, the debtor likely has no intention of paying and is only sending cheques to thwart your collection efforts.

The debtor keeps coming up with excuses

Debtors, with no intent to pay, come up with a new reason every time you try to speak to them on the phone. Going through this process over and over can be extremely taxing and inconvenient, especially since you have a business to run. Hiring a debt collection agency will take the responsibility off your hands so that you can focus on more important responsibilities.

Stalling tactics and broken payment promises

Debtors are allowed to make a promise to pay their debts, but what matters is how they honour the commitment. When you have given multiple opportunities for a debtor to stay true to their word, yet breaks it anyway, it is time to move forward with hiring a debt collection agency.

Although these signs are significant indicators that it is time to let a third party followup with debtors, the decision still depends on the business owner. When you have a reliable agency doing the work for you, you can sit back and wait to have the money owed you settled by troublesome debtors.

To read more on topics like this, check out the business category.

Displaying products in a physical store is not enough to increase the sales of a business. Making use of other means to market the goods is crucial to reach a broader range of potential customers. Currently, businesses survive by maximizing the use of the Internet and other technological advancements to promote their products and services. This strategy can also be beneficial for furniture businesses since the products they make are not common goods bought regularly. With the use of technology, chances are higher of attracting possible clients and even closing more deals than usual.

Make a digital inventory of the offered products and sales record

One of the things that can be done is to make a digital inventory of all the products available for ordering and selling. The advantage of using this simple computer application is to organize and easily update the stock. In this way, potential clients may be provided with a quick answer if their preferred furniture is available. Also, this method can easily monitor sales, to know which the most sought-after products are, and the ones that are hard to market.

Take photos and lay them out for printed and online materials

Taking pictures, even with a smartphone, and editing them to make amazing printed and online materials is another way to market the business. With the help of technology, images can be easily communicated to online customers that can help them in deciding what furniture to purchase. Pictures may be presented per type, or by collection like those AICO furniture collections made for their online material. There are editing applications that are easy to operate and free to access online.

Maintain online platforms to promote and sell products

Online visibility is one of the ways to easily advertise and sell products nowadays, like a business website, social media accounts, and blog sites. Aside from the specific descriptions provided for every product, the online platform should also include inquiry and order portals to grab the chance of making a deal with clients that are convinced by the online advertisements. With the use of the internet, more and more people can discover what the business offers and that connection is a big help in expanding the market for furniture.

Explore furniture designing software

Aside from the personalized and trademark designs of the furniture business, exploring new and innovative styles with the use of furniture designing software can help to provide customers with a variety of designs to choose from. The models which are devised by the computer software can also be based on the preferences of clients such as the materials to be used, colours, and specifications. The efficiency of this method is almost the same as the traditional one except for the time saved in using the software.

Marketing a business is more accessible now with the help of different technologies. How to maximize them lies in the strategy devised to advertise what the company offers effectively.

To read more on topics like this, check out the business category.

The main obstacle to all entrepreneurs is access to funding and investments. To get where the business-person sees their venture going, finance is an unavoidable and necessary part of doing business. In addition, with the wage gap between men and women around the world, female entrepreneurs have an even more difficult time obtaining the investment they need to get started in earnest. This is what the government in the United Kingdom says they are focused on changing. To narrow the wage gap between genders, the UK aims to provide financial support to women looking to start or expand their business.

The Statistics

Only nine percent of funding for start-ups in the UK is awarded to women. Men in the same position are actually 86 percent more likely to be funded with venture capital investments and are 56 percent more likely to secure “angel investments.” Only 13 percent of UK Venture Capital decision-makers are women. These statistics are staggering, and to narrow the gap the government is saying that they will fund women entrepreneurs and use it as a way to boost a post-Brexit economy.

Enterprise & Women

Financial institutions, including banks, are publishing the split between investments for men and women as part of an initiative that aims to increase the number of women entrepreneurs. With UK Finance, the Treasury is establishing a new program to facilitate this. Called “Investing in Female Entrepreneurs,” the code will be published annually and will focus on how financial institutions’ decisions can have a wide impact on the economy as a whole. Inherently involved with the gender wage gap, investing in women is investing in the economy.

Key Barriers

Considering these statistics, it is hoped that the number of female entrepreneurs will double. According to MonePug, a site that is used in the UK to find short term loans, some of the key barriers research has found is that women have lower access to capital, greater risk awareness, and a misperception of lacking skills and experience. There are also disproportionate primary care responsibilities and a lack of relatable sponsorship and mentoring role models.

Initiatives

There have been eight initiatives identified and targeted at various stages of entrepreneurship from the beginning to scaling up a business. These have both direct and indirect impacts on businesswomen and include promoting higher transparency in the UK’s funding allocation through new investments in the Investing in Female Entrepreneurs code. There will be many entities that can fund and provide new opportunities for women.

Another is to encourage both institutional and private investors in the UK to support female entrepreneurs. NatWest will support this task force. Reviewing bank products aimed at those with family care responsibilities is another hurdle. New methods to support businesses that are run by women leading a family will also support female entrepreneurs.

Improving access to experts and expanding residence programmes to support government-led initiatives to provide expertise will enable women to get the know-how to be successful. Expanding existing mentorship will also provide female leaders to other women. Finally, accelerating the development of entrepreneur-related courses in universities will boost access to knowledge and training for women looking to get into business.

Support Women, Boost the Economy

Not only is supporting women in business the right thing to do, closing the gender gap in British entrepreneurs could generate as much as £250 billion in the economy. A report from the Rose Review of Female Entrepreneurship found that on averaged female, led businesses are just 44 percent of those led by mean. Boosting these businesses could mean a sizeable increase in the British economy. Only one in three UK entrepreneurs are female. Evening the gap between genders does not mean that men will lose out, it means that the UK economy will grow.

With the UK looking forward to an uncertain post-Brexit period, boosting the economy while narrowing the wage gap could be just what the country needs to remain economically significant. It is not just the moral thing to do, it is also the financially beneficial thing to do. However you look at it, investing in female businesswomen will promote gender equality and put money into valuable ideas and support women who are hungry for success.

The future of the world is digital. Some people even think that online industries will outgrow physical industries. At the moment, unemployed students are already making money online offering assignment help services, others are coding, and millions of people around the world are working from home via the internet.

There are digital skills that students should learn today, and without them, the future will seem bleak. Here are ten digital skills that every student needs.

1. Digital Literacy

How fast does it take you to learn how to operate a new gadget or get around a new application? Your digital literacy should be excellent if you wish to survive the future. Technology is advancing at an accelerated rate, and there will be new gadgets and applications coming out every other day, so expect more and more challenges.

1. Social Media Operations

There are billions of people using social media sites every day. Social media is more than just a place to socialize – it is a thriving market with millions of opportunities. Most students use social media to catch up. Smart students, however, use social media to come up with new, lucrative business ideas and leverage the traffic to make implement those ideas.

1. Analytics

Everything is about numbers and data. Major retail sites such as Amazon have achieved their success by manipulating big data. Small enterprises are doing the same, but on a smaller scale. Individuals, too, can grow their business ideas if they have the right data. Analytics is necessary to understand and leverage data.

1. Programming

Everything is going online. Computer programs are taking on greater and more complex responsibilities, and this is happening at an accelerated rate. This is why programming is one of the fastest growing occupations, and it pays well too. This is a job that most unemployed students could use.

1. Search Engine Optimization and Marketing

Online platforms generate billions of dollars every year. More and more companies are taking their business online, and they will be looking for people who can optimize their websites so that they rank better than the competition. Skills in SEO and SEM will be an added advantage to your resume.

1. Content Marketing

Content sells. Everything on the internet is marketed through content. Whether it is written articles, pictorials, videos, or graphics, it is all content. Some content marketers make six-figure wages, and some are still students.

1. Social Selling

As mentioned earlier, social media is the largest and fastest-growing marketplace. People make passive incomes just selling stuff on social media, but building a good business here takes a hands-on approach at first and demands good skills in social selling.

1. Website Development

There are millions of websites, and thousands more are coming up every day. You will need your website to make yourself marketable. You may also join the workforce and begin developing websites for clients – it pays well! Nowadays developing a good website doesn’t take complex programming skills – as long as you know what software to use you can become a pro in days.

1. Mobile Usage

Smart phones are becoming so powerful that they are rivalling PCs. Unfortunately, most people don’t know the power of their own phones. Those who do, however, find that their phones make everything easier and simpler.

1. Building Applications

As phones and smart gadgets advance the market for mobile applications is growing. Apps can generate millions of dollars if they are marketed well. In fact, most apps are the creation of students and young entrepreneurs.

The future promises great things thanks to the breakthroughs in technology. The future belongs to you, but if you cannot keep up, it will not be kind. These ten digital skills will not only help you cope but also thrive in a future full of opportunities.

To read more on topics like this, check out the business category.

Business cards are still an excellent way to introduce yourself to other people. You’re not only introducing your role, but you’re also representing your company. It might seem like an outdated way of connecting with people, but it still works. It’s true, especially when you’re trying to meet with foreign investors and potential business partners. The first thing to do when you meet them is to greet them and offer your business card. It’s a polite way of introducing yourself.

To ensure that your contact will take the business card and use it to connect with you, it’s crucial for you to pay attention to the details of the content.

Emphasise your name and the company you represent

Your name and your company’s name are essential things in a business card. You wish to introduce yourself to someone who doesn’t know you or your company. The business card is an excellent conversation starter. You don’t need to follow the standard formal fonts. You can even use similar fonts to those you usually use for your company.

Use a QR code

You can’t put a lot on a small piece of paper. However, you still want the other party to communicate with you or at least have an idea about your business. You can use QR codes to redirect them to your website or your social media pages. They will then get more details as soon as they scan the code. The codes don’t need to be large to be useful.

Use the correct phone number

When you’re dealing with people abroad, you don’t want to make it difficult for them to call you. Make sure that you adjust the phone numbers so that when they dial them on their phones, they will immediately connect with you. Use the correct country and area codes.

Use an official email

You might have a personal email, but you can’t use it when you’re dealing with official business. You also need to show to these potential investors that you’re a serious businessperson. You need to use the company email even if you don’t usually use it as you’re more comfortable with your personal emails.

Don’t put too much information

Again, a business card is small. You don’t want to include lots of text as it will look crowded. You will only confuse the person reading the information. You need your complete name and title, company name, logo, contact information and a QR code. These details are enough to stay in touch with the people you meet.

Once you have finished designing the business cards, it’s time for you to meet with a supplier such as a specialist in printing services Manchester offers. You want the design to not only look good on the computer, but the final output also needs to be outstanding.

Keep updating your business card if there are changes. Don’t print a lot of cards at once if you regularly change the details on them.

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To read more on topics like this, check out the business category.