A car has become very important for us nowadays. It has come up to be the most important and comfortable mode of commuting for the common citizen. Corresponding to the situation, buying a car has also become very easy now. With cheap car finance, a new or a used car can be bought without much burden to the car buyer.
Cheap Car Finance is available to the borrower to buy a car that may be new or old. It totally depends on the borrower as to which make, model or brand of car he wants to buy for himself. In case he wants to buy a used car, he should make sure that it should not be more than 5 years old.
Cheap car finance can be availed by the borrower in two forms depending upon his suitability. The first way is through secured cheap car finance. Through this mode, the borrower has to pledge an asset, usually which is the car itself as collateral with the lender. This asset will act as a security for the cheap car finance and due to this, a lower rate of interest can be acquired from the lender as he is sure of the retrieval of his money.
However if the borrower does not want to pledge his car or any other asset for the cheap car finance, he can take up the unsecured form of the finance. He will not be required to pledge any collateral and his assets are safe. But to compensate for the risk factor involved, he is charged a higher rate of interest from the lender. This rate can be lowered by proper comparison of loan deals offered. A term of 5-7 years is available for repayment of cheap car finance.
Cheap car finance is available online through numerous lenders and companies who have made their dealings online. Due to the stiff competition, the borrower can choose from a variety of deals that are offered to him and avail a lower rate of interest.
So what are you waiting for? Grab a cheap car finance deal and plug the key to your freedom. Hit the roads with cheap car finance.
Cheap Car Finance: Now Get Set and Go Vroom With your Car
Myths and Reality of Guaranteed Car Finance
Guaranteed car finance companies have helped thousands of customers who have different past credit problems to finance the purchase of a new or used car. Some people need guaranteed car finance simply because they have no credit history. So, thank goodness for guaranteed car finance arrangements whereby you can find a car you like and drive it out of the showroom within minutes, right? Maybe not. You might want to look a little closer before signing those papers…
Rates
As usual, the rate you are offered will depend upon your credit history. If your credit history is bleak at best, then you can bet your quote will include an interest rate that is sky high upon “approval”, and be careful with that as well, because the rate advertised is not always the rate you will get. I’ve heard of some guaranteed car finance companies coming back with an interest rate as high as 15% and higher! That’s like credit card interest on a larger principal amount. Car finance rates are determined by the percentage or cost added onto the loan by the lender and the dealers get paid a commission on higher purchase deals and will try to charge a rate that is more beneficial to them, and not you.
Payments
Once you have the purchase price of your automobile and are working with the interest rates, be sure to figure the total monthly payment that you will be paying, and determine if it will work with your monthly budget. Remember that just because you may have a good purchase price and acceptable interest rate, if the monthly payments are too much for you to handle comfortably for a number of years, it may be best to pass. Also, if the payments do seem to be too high, don’t let the dealer talk you in to stretching out the financing for years and years. Remember that a car loses 60-70% of it value in the first two years. So if you sign into a loan for 7-8 years, you may still be paying for the car when it is a heap!
I understand that your credit record may not be perfect at all stages in your life, many things can happen to leave you with a bad credit history. If you do not have the savings and cannot borrow from friends or relatives, you will have to face the possibility of applying for a car finance loan and are likely to find it more difficult to obtain approved car finance with a bad credit history: difficult, but not impossible.
Bottom line, anything that claims to be “Guaranteed Finance” or “Bad Credit No Problem” is likely to be out to devour your bank account. My suggestion is to save a little money, and buy a car with cash. It may not be the sports car you’ve always dreamed of, but it will get you from point A to point B until you have a chance to repair your credit, and save up some money to buy that sports car. If you cannot wait and simply must get a guaranteed car finance loan, be careful, shop several different places, and go with the best proposal.
Student Finance Help: Advises to Avail an Affordable Education
Applying for student finance help is best soon after you make your course application. On the top of student loans and grants from the federal government, you may be able to get a bursary or scholarship from your place of study. This facility is made possible online as well as offline. Of that online processing is preferred.
With this finance help, you are counseled the way to bear the costs of your studies. These are tuition fees, books, traveling and living cost, computers, and other costs associated with the course you pursue. You can seek this finance help to consolidate your outstanding dues also. By paying off your multiple debts at lower cost, you can make your life debt-free.
Even in your already credit debt, your parents are able to apply for student finance help. For that, student finance help comes in secured as well as unsecured forms. For secured financing you will have to pledge collateral. Upon its evaluation, the loan decision is taken. It is due to the fact that loan amount under secured loan varies from person to person. If you are a tenant or homeowner and does not want of put any of your worth asset as a security then unsecured loans can do for work for you. Under the money provision, whole of the loan amount is determined on your repayment capacity. For that purpose, your employment status is taken into account.
So, you will need to use one of several different forms to make your main application for student finance help. Which one depends on whether you are pursuing:
* Studying part time
* Studying full time
* Taking a teacher training, social work, healthcare or open university course
Based on the given information, finance is granted. You raise the student finance help to cover the costs of your studies.
Loans for a Wise Business Owner
The job of a business owner is a hard one. If you’re self-employed and the sole employee of your company, that’s one thing. But if you’re running a business with employees, that’s a whole different story. Everything becomes far more complicated and costly for you.
Worrying about employee paychecks is just one aspect of the many stresses that accompany the job of a business owner. Stress comes from many other sources too—such as having much more complicated taxes to do, having to worry about things like marketing and sales, and trying to keep your business organized and functional. It’s a strain that not many people can take, but which is necessary if an owner wants to see success.
If you’re a smart business owner you’ll see what needs to be done when times are tough. When your finances are tight, you can’t slow down or stop. Businesses need to have a “the show must go on attitude” as the competition surely isn’t slowing down having problems like you are. You need to use the resources available to you to help get off the ground and stay afloat until you can get into a more sturdy position.
And this is where open door loans come in. There are many types of loans out there for small businesses, but one of the best that you can get is an open door loan. These are the fastest and quietest option available, meaning that you can get the money that you need within hours and no one needs to know the source. These short term loans can be first taken out and then paid back completely online, which is why so many business owners choose to use them to get through the rough patches.
If you decide to get an open door loan, you can do it easily by finding an online lender,like www.opendoorloan.co.uk and submitting an application. There are no business presentations, no securities, and not really any preparation required. Just fill out your information and see if you qualify. Open door loans are given out on a basis of whether or not the lender thinks that you can repay the loan—judging by your credit history and projected earnings. They’re extremely lenient and pretty loose about who can qualify for one of these loans, so you won’t have to worry.
If open door loans are the one thing that can get you over the hurdle that leads you to success, then you are wise to start looking into them and to consider getting one for your business. They’ll be extremely useful to you in easing some of the financial tension and helping your business to run smoothly and effectively like before.
Business Cash Advance: Hassle Free Finance for your Business
Starting the right way is essential for a small business to eventually make it big. Proper planning at all levels is a necessary obligation for businesses. Impulsive decision-making and wrong strategy can put the business into critical situation in no time. Among all factors, the most important aspect that a start up concern should concentrate on primarily is finance. Every company needs to maintain a proper financial flow to carry on their operations. A business cannot make profit from day one itself. It takes some months and even years to touch the break-even point. Till then the day-to-day expenses has to be taken care of. Thus a business needs an adequate flow of working capital to run its processes smoothly.
Arranging the working capital needs proper analysis of business requirements. The amount of capital needed depends on the size of the business. A rule of thumb is that a businessman should at least arrange for the capital that is equal to the revenue of the first year of business plus the probable expenses that the business can incur. So if the expected revenue is $125000 in the first year with other expenses amounting to another $175000, then the capital to be arranged for should not be less than $300000. Thus the financial experts of the business should analytically work out the amount of working capital needed for the business to operate without hassles.
Once this is done, an entrepreneur should look for funding avenues that can finance the business. Many financial as well as non-financial institutions offer small business loans. The type of loan opted for has a direct effect on the prospects of the business. Loans are of two types, secured and unsecured. Secured loans extend finance to those who can afford to provide a collateral/ security to the financial institution. On the event of non-repayment, the financial institution gains the right to sell off the security to get their money back. On the contrary, an unsecured loan does not need a collateral but may charge a higher rate of interest from the borrowers.
However, monthly repayments are always a major concern for the borrowers. Another primary concern is whether the concerned authorities in the financial institutions will at all sanction their loan applications in the first place without any delay. So, if one is looking for a financial option that offers easy eligibility and easy repayments, a business cash advance is the way to go for. The company should accept credit cards as a form of payment and be in the business for 2 years to be eligible for a business cash advance. In addition to this, the business should be processing a minimum amount of payments per month and should provide the bank statements for the last three months to the financial institutions. The biggest advantage of a business cash advance is the borrowed amount is directly repaid through the future credit card sales of the business. Thus there is no need to bother about month end installments.
So if monthly repayments, eligibility criteria, delay in loan sanction is all that is bothering you to start your own business, opt for a business cash advance for hassle free finance.
College Students And Affording School Supplies
Ten years ago college supplies included books, notebooks, and pens and pencils. Some kids had computers, but not that many. However, that quickly changed and now kids today are required to have a laptop computer on many college campuses. That’s certainly very helpful for kids studying, taking notes, doing research, and writing papers. However, it is not easy on the wallet and can actually be quite stressful for many college kids who don’t have the money up front to buy a laptop computer. There are some options, however, for kids who need a laptop and other school supplies, but don’t have the money up front.
The best option for college students is to apply for a student credit card. Student credit cards are great because they usually are given to kids in college even if they don’t have a credit history. The credit companies believe any student will have a good income on graduation and will be able to maintain their credit. Also, there is the belief that any balance a college kid can’t pay will be paid by the parents. And, this is true in many cases! Regardless, college students should apply for a student credit card. Not only will they begin building their credit, which is really important, but they will also be able to afford things at the beginning of the semester that they need like books, software, a laptop, and more.
College is expensive, and paying for books at the beginning of the semester is incredibly expensive. It is not unusual for kids to spend around $500 per semester in books, and sometimes more! Students who don’t have extra finances after paying tuition may find this cost unattainable. However, if they had a student credit card they could simply buy their books and pay them off over the semester. Paying $100 a month is a lot more attainable than coming up with $500 up front. That’s why student credit cards are so popular because they help students finance their education.
Of course, not all student credit cards are made equal. Some are better than others and that is why you need to do some research before you begin applying for them. Many times, credit card companies will set up stands on college campuses and offer free t-shirts, hats, and the like, to get kids to sign up for student credit cards. This is really tempting, but you should actually get a copy of the application and then review that particular card with other student credit cards. Today you can easily apply online, so compare credit cards and then make the right decision for you.
As you can see, it is not that difficult for college kids to get a student credit card that they can use to help them pay for school supplies. It will also help them build credit and learn to manage it, which is an important life lesson. Remember, that if you pay your bill off in full each month, it’s like getting an interest free loan, it’s a win win situation!
A Fresh Start for Family Finances
Its still not too late, however, to reset the trajectory on your familys finances, experts note.
1. Build a Budget
If you havent already done so, create a realistic budget.
Approximately 85% of your income should be set aside for necessities like housing, food, health care and clothing, according to the professionals at VISA USA.
This leaves 15% for entertainmentand something many consumers completely neglect: savings.
2. Distinguish Needs from Wants
Make sure you have a clear understanding of what you need in life versus what you want in life.
You need to pay for the antibiotics when the doctor diagnoses a respiratory infection. You dont need to buy the latest movie released on DVD to aid in your recovery.
You need to pay the rent or mortgage. You dont need to buy the lovely accent pillows that beckon to you from the interior design boutique.
Always separate the needs from the wantsparticularly if money is tight.
3. Monitor Your Spending
To see what you really spend each month, keep a running log of all purchasesno matter how smallfor a full month. This will give you a visual display of where your money goes after you deposit your paycheck.
You may find that the $3 cup of coffee that starts each day adds up to $90 a montha pocketbook pincher that may prompt you to buy a pound of coffee beans at the local market and grind them yourself. That $90 blossoms into $1,080 in savings at the end of a year.
4. Create an Emergency Fund
Life is full of surprisesboth positive and negative. If you happen to lose your job or suffer an illness that temporarily sidelines you, you will need cash reserves to support you during the rough months.
In most cases, consumers who find themselves dealing with a financial hardship are unprepared and have not saved for unexpected situations, says Diane Giarratano, director of education for Novadebt, a U.S. financial management service agency, with multiple locations, that provides credit counseling, budgeting and financial education.
5. Educate Yourself
When you attended high school or college, you studied history, mathematics, language and science, but there was probably no course in basic money management.
If you need help in meeting a financial goalwhether its buying a home or reducing your debttake advantage of community resources.
Read more on
http://myfreeinfo4u.com/finance/a_fresh_start_for_family_finances_in_2005.html
General Car Financing Tips
In this article we are going to look at car financing tips to help you determine, which is your best option when buying a new car. There are many options that you have regarding car financing and the most common is always the loan. The loan is often easier for many to obtain over a lease option. So we will concentrate on loans for the general car financing tips.
? When buying a car you need to know what your credit scores and history say. Sometimes a bank or loan office is going to try and offer you a worse deal than what your credit scores really reflect in order to make more money. They may fudge the credit score numbers to make it seem probable that you are more of a risk. Knowing what your credit scores are can help you determine if the loan company is on the up and up. You have two options for car financing. You can go through the dealership for financing or you can seek financing on your own. In either case know your credit score and history. Make sure there are no surprises.
? If you are refused a loan because your credit is not sterling enough you will need to wait for a few months until your scores are in a place that you can obtain a loan. Don’t try to find multiple loans when your credit has already been rejected chances are the other financing will refuse you and make your credit score worse.
? When searching for a loan for car financing you are going to want to make sure you have researched the current market. You will want to know what the current car loan interest rates are for someone with sterling credit as well as someone with little credit or bad credit. If you know where the numbers are on average you can negotiate for a better loan. This will help in the long run. Remember you don’t have to take any loan that seems fishy or just isn’t what you hoped for. You have the right of refusal.
? Keep in mind that a down payment towards a new car is going to help you with the loan. A car dealership is going to hope that they can get a little money from you up front and the car financing will appreciate this. It will lower the overall amount you need to borrow and make your payments more affordable.
? Keep in mind that you can also trade in another vehicle. If the trade in value is a fair price you can also have the down payment to partially pay off the car. This will again lower the financing you need to obtain. You can also just trade in a vehicle without the down payment if that is what you would like to do.
There are many options and tips regarding car financing and overall using common sense and knowing where you stand financially is going to save you a lot of hassle and get you what you want.
Failing To Plan Your Business Financing Can Be A Death Sentence For Your Business
Most businesses start out thinking the first thing they need is a great business plan. The popular myth is that potential lenders will place great stock in your business plan as a major consideration for approving the financing you need.
While a well written business plan will assist you when you are seeking financing, it is far down on the lender’s list behind things such as your business management team’s experience, your past business successes and your “lending character “. Having a plan for accessing the business capital you need to execute your business plan is what is required to bring your business success. Not having a viable business financing plan is the direct cause of why 90% of all new businesses fail.
Your lending character means the lender sees you having the ability and stability to repay the loan. They also ask how far they believe you can take the business to maximize the potential earnings and therefore their chances of getting repaid.
The first thing a lender is going to look at is how did you structure the business and were you responsible and knowledgeable in that. Are you Incorporated or an LLC? If not you are declined for a business loan and everything becomes based solely on you as an individual. Did you do your EIN, State, business licenses and bank filings correctly? If not, you are declined because lender’s require attention to detail.
A simple business credit report check by a lender will quickly show whether or not you are even in the ballpark for getting approved for financing. If the lender finds that you haven’t bothered to insure that your business has active reports with all three major business credit reporting agencies, then of course you are immediately declined.
Next, the lender will look at the character of your business credit reports. What do they say about your business? What kind of payment histories have you had with debts that are easy to get such as vendor trade lines, small business credit cards, equipment leases, etc? If your business has no credit history or very minimal history then no lender will even consider your business for a larger loan when you have no track record of paying smaller debts.
If you pass these simple tests, now a lender will get to the heart of you business loan application and it is only at this point that you even get the opportunity to present your funding request. Unfortunately as high as 90% of all business loan applications never get to this point, because most business owners never take the time to complete the initial steps.
So you have made it this far, The next question you need to ask is what is a lender going to want to see? Debt service! Here is where the lender finally looks at your business plan (or at least the financial pat of it) to determine if your business can debt service the loan. To make this determination a lender will test the reality of your numbers. Basically this means do your numbers add up and do they make sense.
If you don’t know anything about accounting you had better get help. When a lender looks at your projected financial statement and finds simple accounting errors, then in most cases you will again be declined. They don’t want to lend money to someone who cannot produce a simple proof and loss statement; or someone that can’t balance a balance sheet. There is a lot of help out there, get some.
Next, a lender will look at the market niche section of your business plan. While most business owners think that this is the place that sets them apart from the competition, it actually is the part where lenders will compare you to your competition. Here is where lenders must see that you have done you market research. Can the revenue claims that you are making in your financial projections be backed up by the actual market demographics for your specific business industry, location, customer base, etc.? It essentially comes down to the need for your product or service.
All of this can seem overwhelming and in truth it can be. It is the reason that 97% of all business loan applications get declined. The overriding reason is that business owners are not taught this in school and typically only gain this knowledge through years of brutal experience that normally includes having one or two failed businesses under their belts.
This will give you plenty of information to get you started on putting together a business funding request. In my next article I will cover some of the other aspects of your business plan. For a full version of an excellent business funding guide do a search on Google, Yahoo, or MSN for “Business Funding Workbook”.
How Should I Structure My Cv to Find a New Accountancy Job?
When you are searching for your next Accountancy Job, your CV is one of many that will find itself into a recruiters hands, so it is vital that it is well-presented and has the correct structure to it. If you start with general hobbies, put your accountancy roles at the end and have contact details mid-way through, you will not give off a good first impression.
To begin with, prepare a list of all your competences, skills and experiences that you can think of, including specifically those relating to your Accountancy Career and experiences. Try to pinpoint those points that make you stand out from others.
A CVs structure is fairly standard and should begin with the most relevant information. Try to follow the following format:
Personal Details: including Name, Date of birth, Contact details, Nationality etc
Work Experience: with the most recent job first, write down in order those companies you have previously worked for. If you have many years experience, write down all the accountancy jobs you have done, highlighting all your skills and abilities that are most relevant to the new accountancy role you are going for. If you have only some minor work experience, then ensure you mention this in this case make sure you state any Accountancy work that you have been involved in. After writing the company name, state your role, the dates you worked there, and a brief description of your tasks, responsibilities and achievements. Try to tailor this section to the accountancy role you are going for as much as possible.
Achievements: think about what achievements you have made and list those most recent, especially those that may have occurred whilst working in a previous Accountancy role. Employers will deduce a lot about you from what you decide to be important.
Education and Qualifications: with your most recent qualification first, list the full degree/qualification, where you studied and what you achieved. Focus on GSCE and above and ensure you mention any professional accountancy qualifications you have e.g. ACCA, CIMA, ACA etc
Extra-Curricular Activities: keep this relatively short and mention your interests and hobbies. Think about memberships of sports teams/drama societies. Try to keep it purposeful.
General Skills: mention if you have a driving licence, what courses you have attended, foreign languages and IT skills at the end. This is less relevant to your work experience, qualifications and education so put it at the end.
References: you do not need to mention references but you can however write Reference available on request and the employers can then contact you if they need them.
Once you have the structure and decided on the content, you also need to think about the presentation. Good CVs are logical, clear and concise, so by keeping to the structure described above, you will make it easy for the reader to see your highlighted information and match it to the criteria they are looking for. It will show them that you are also capable of pulling out the most important aspects required for the Accountancy Job you are applying to.
How You Should Be Looking For An Investor In The Capital Venture Directory
When people need to enlist the services of a company, that person will usually check for it in the phone directory. It is only after browsing through the names on the list that the individual will be able to get in touch with the firm that can do it.
The same thing also happens when getting help in starting a business. Though the numbers are not in the phone book, the entrepreneur will have to check magazines and online for those who are interested in funding a project so a business proposal can be sent. The business proposal should have a brief introduction of the company, the objective of the venture, the sales projection and most importantly, the timeline for the return of investment.
The entrepreneur will notice that some of those in the directory are leaders of some of the biggest corporations in the United States. This means these people have the experience, which will also come in handy when running the business.
After all, those who decide to go into a venture will have to give 30% of the company to the investor. This is because handing out money is not out of charity or for free and the other party has to get somehing from it making it a win-win for everybody. Those who do it online will first log on to the website and then give certain information. It is only after getting some details that a match can be made with someone who is willing to invest in the entrepreneur’s idea.
There is always a risk in starting any business. If the entrepreneur has submitted a proposal and this was turned down, the person should not give up because there are surely other names in the directory that can be sent a letter that will hopefully like the idea and then fund it.
If the person does not want to work for an employer anymore or just graduated from college and wants to be his or her own boss, , perhaps it is time to start a business. The entrepreneur can go to the bank and get a loan but with the help of an investor, the chances of this growing are much higher given that there is also someone there watching out for hurdles along the way. The choice is of going to the bank or looking for an investor using the capital venture directory is entirely up to the person.
Venture capitalism, a potentially beneficial form of investment for small businesses especially for technologies, industries, dot coms and biotech types of businesses.
For the first part of the year, venture capitalist industry has been going steady and it seems that venture capitalism is alive and well. Biotech, software, media and entertainment investments, telecommunications, and various internet-specific companies seem to be going well.
Despite the risks of venture capital, entrepreneurs still try to obtain approval of venture capital organizations to get hold of some money to finance their growth and development. Entrepreneurs from across the country take advantage of the growth of venture capital investing. Even in Jefferson County in Alabama, venture capitalism could flourish.
It so happens that Jefferson is the most densely populated area in the state of Alabama. There are a lot of potential things happening here and there could be several opportunities for venture capital organizations to invest in businesses in this part of Alabama.
Venture capital is a double edged sword. For the investor it could possible mean great profits if things turned out well. Investors will put their money on a company on the assumption that things will turn out well and that the company will do good in the near future reaping all the profits for them.
The money can be utilized by entrepreneurs for innovative enterprises or research. This works well especially with high technology companies. There is actually a great risk of loosing all the possible profit and as well as all the present investments that the venture capitalist has put forth so far.
So what does Jefferson County has installed for venture capitalists. Jefferson has a limited-form of home rule government. This system resulted to usable land use zoning, as well as better maintenance sewer systems and roads. Garbage disposal and taxation is quite ok too. Five years, that’s how much time capital investment analyses and capital source studies should be conducted. This is just enough time to test your product, service, market and process investment.
This is entirely better for both the entrepreneur and the investors. Particularly, the investor needs to know how stable the company will be. These analysis and studies can anticipate possible scenarios that can help the company and the investor through tough times. With proper planning, it is quite possible for both the entrepreneur and the investor to borrow long term and obtain equity placements, and other related major investments.
Alternative Student Loans – For When Funding Is Difficult
Such loans can fill a funding “gap.” Often such a “gap” is created when a student is awarded a Stafford or Perkins loan, and then realizes that the amount in the loan does not fully cover all of the student’s expenses.
The Lenders of Alternative Student Loans
Most lenders have put their loan applications online. Those applications are for secured loans. The lenders thus seek some “security” when providing a student with loan money.
Students can easily download an application for one of the many loans available. Once downloaded, the application can be filled out and sent to the prospective lender. One word of warning: Students should study the details of any loans before submitting any application.
The lenders of the private, alternative student loans hope to profit from their ability and their willingness to loan money to college students. As a result, they often attach stiff fees to the loan.
Those fees are sometimes paid at the time of the loan application. In other instances, lenders have added those fees to the interest rate for the student loan.
Comparing Different Alternative Student Loans
Students who want to compare the offering of the various lenders might feel like they are comparing “apples and oranges.”
Students might wonder how a high fee and lower interest compares to a low fee and a higher interest rate. Students should remember this: a 3% fee is equal to a 1% rise in the interest rate. When keeping those facts in mind, students can better compare the various types of student loan.
Students might also consider how quickly they can obtain the loan. The Act private loans are fast, and they do no require the completion of a FAFSA. Still, students should take note of the fact that awarding of the Act private loans is based on the applicant’s credit.
Different lenders have different repayment options. The student in need of a loan should study those options. An ideal lender is willing to defer payment until after the student has graduated.
Some lenders, such as Astrive, give student loan recipients an opportunity to refinance any of their loans.
The Best Time to Go After Alternative Student Loans
Unlike a lot of student financing, the money for the alternative student loans is sent directly to the student, not the institution that he or she is attending.
Students are not encouraged to look at an alternative student loan as a “first choice,” when searching for a way to pay for a college education.
Not infrequently, a student with a Stafford Loan will “max out” on that loan while still in school. If he or she hopes to continue and finish his or her education, then that student needs to look at the alternative to the loan they first thought of.
The same student might also want to consider getting a PLUS loan.
Knowledge Base Software: Corporate Needs and Customers Pleased
When it comes to consumer based industries, the customer is God and once you displease a God, you are bound to suffer. Therefore incredulous spending occurs in corporate firms to set up a very strong system of customer service satisfaction. Hence the expenditure involves the hiring of people capable of cramming different types of data related to the product that the firm is selling or the sold service for that matter. More spending occurs on training them and facilitating their learning process. In time the expenditures just get out of hand and lead to a sufficient loss in revenue.
This is where Knowledge Base Software comes to the fore and takes the costs spiraling down. This new brand of software does what all software does, creates a database at the first step. This is a database of knowledge as the name suggests. One can cram it with knowledge which may take years to memorize and assimilate for human beings and the best part is that it can all be summoned upon a simple query being set in or searches made through the set simple classifications. All in all it makes the job of a customer care executive simple with all the answers being provided right in front of them.
The most important aspect here is the thought that Knowledge Base Software simply pushes down the cost of training and ensures that companies do not need to hire specialists and hence more people in number for the tasks which through the help of the software can be conducted by fewer people. It also saves the customers time and the workers effort. In short it provides a win-win situation for all people involved in this situation and above all the needs of the corporate and the pleasure of the customers are met at once.
How to Negotiate Car Financing
Have you ever wondered if there is some way to negotiate car financing like you would the car deal? Well in part there are a few tips you can follow to help you negotiate for a car loan. In this article we will discuss a few of those as well as look at a few options you have.
First when you negotiate car financing you need to know exactly what your financial status is, what does your credit history display, and of course what are your credit scores. You have to think like the bank. What will the bank be looking for in giving you car financing? They are going to want to look at your identity to make sure you are who you say you are. They are also going to want to look at a pay stub or two to determine your monthly income. The bank is not just going to believe the application you have filled out. They are also going to determine what risk you will pose to them if they allow for car financing. With car financing it is all about the numbers, and not about the emotion. Many individuals make a mistake in thinking it is personal when it is a business transaction. In other words you can’t negotiate at all if you don’t act professional and responsibly.
When you consider negotiating a little on the car financing you are talking about the interest rate, and of course the actual amount of the car financing you are going to need. Most often we are going to try for a car loan that will get us the car we want in the hopes that the interest rate and term of the car loan is going to be correct enough to get the monthly payments we are looking for. Anytime you buy a car you have an idea of just what you can afford in a month as well still have a little savings left over. You want to make sure that the number you are aiming for will be obtained.
Sometimes with car dealerships they will only offer a certain length for the car loan such as sixty months based on your credit history rather than offering two or three years instead. You can try and negotiate this while negotiating the car financing contract. You can also learn what the interest rates are. In other words what is the interest rate on a car loan typically average right now? What does it average if you have less than stellar credit? Knowing these numbers helps you to negotiate for a better interest rate or go elsewhere to a bank willing to give you that better loan. You have the option of going through the car dealership, a bank, or an online resource regarding the car financing. You just have to choose the option that will work for you. You have a say in the ultimate decision of which loan you choose or if you must wait a little while for a better deal.
Corporate Finance and Loan Structurings
orporate Finance and Loan Structuring To Achieve Your Business Objectives
Corporate Finance is a specialist area. We provide a whole host of funding services for MBI, MBO, Venture Finance and equity funding. Corporate Finance Loan Structuring involves looking at a whole host of factors and projections to leverage the maximum benefit. At Oxford Funding, our experts help you do exactly that.
Oxford Funding offers corporate finance for various purposes. One of the major areas where the demand for funding is growing is in the area of MBOs and MBIs. Our corporate finance loan structuring schemes let us fund your MBI or Management “Buy In” which allows you to acquire a company that you will run with your new management team.
If you want to buy the business in which you work, opt for an MBO which refers to the “Buy Out” or the acquisition of a company by your existing management team. You’ll find our flexible and efficient corporate finance loan structuring schemes can be tailored to your circumstances.
Call our specialist brokers in these packages, Glin or Peter on 01242 226662.
Our c orporate finance loan structuring plans allow you to take out unsecured loans too. These are useful when you need to raise finance urgently for expansion or any other purpose.
Our Corporate Finance plans help you raise the equity funding that you need to help your company grow or take advantage of the opportunities that may arise unexpectedly. When you pursue this option, you sell a partial interest or ownership in your company to your equity investors and raise the funds you need. In return, you will share some of your profit with them. Our Corporate Finance Loan Structuring helps you get the best arrangement.
Another important service we offer is helping you raise venture capital to expand the successful business . Using our corporate finance loan structuring plans can help you to access funds quickly and efficiently.
Our corporate finance loan plans look at some innovative out-of-the-box methods of corporate finance loan structuring too. Conventionally, b usinesses can borrow up to an acceptable level of gearing. However, once they reach that point of being fully borrowed’, they cannot borrow further unless equity or unsecured funds are introduced to bring the gearing level down. We arrange these funds by looking for assets outside of the company to use as security. These can include owner/directors’ homes, savings and personal assets. We also use government guaranteed loan schemes and unsecured bank loans.
Enjoy the advantages of our corporate finance loan structuring plans by discussing your needs today. Call us n 01242 226662.
Specialist Corporate Finance Loan Structuring
Corporate And Commercial Law
Commercial law is effectively the legislation that covers most transactions in the life of Joe Public, from the fine balance of a marriage contract to the more fundamental protection of intellectual property. Corporate law, on the other hand, is the exclusive domain of big businesses and concentrates on the intricacies of corporate governance, finance and the ongoing cycle of mergers, acquisitions and insolvencies.
Although the two terms are effectively interchangeable, commercial law has a broader application in that it is not only applied to business alone; whereas corporate law is a specific branch of the law that concentrates on all aspects of business.
Thus, when one ties the knot, finances a car or house or even finds alluvial gold in the stream running through our property, we have to take advice from a commercial lawyer and follow the legislation set out in commercial law.
In South Africa, commercial and corporate law is effectively governed by a handful of Acts promulgated over the years, including:
The National Credit Act of 2005
The Competition Act of 1998
The Close Corporations Act of 1984
The Alienation of Land Act 1981
The Credit Agreements Act of 1980
The Companies Act of 1973
Commercial law applies to virtually any and all transactions and it is advisable to contact reputable attorneys before embarking on any deal or contract. Top flight lawyers will ensure that the deal is fair and, more importantly, in your favour.
South African law firms can and will give imperative advice on the following:
The administration of estates
The sale and carriage of goods
The acquisition of real estate
The protection of intellectual property
Inward and outward investment options
Tax, both personal and corporate
Marine, fire, life and accident insurance
The dedicated corporate attorney will take care of more pressing issues facing you and your business, including
Acquisitions, mergers and takeovers
Banking and finance
Commercial contracts, including lease agreements, service and management agreements and licences agreements
Corporate finance
Empowerment transactions
Corporate restructuring
Stock exchange listings
Tenders
In a nutshell then, commercial law involves the areas of law that have particular relevance to commerce and commercial transactions whereas corporate law deals with big businesses.
Major Church Financing Difficulties
ng>Financing, Loans and Commercial Finance for Churches at Church-Financing.com.
Nearly all Churches necessitate the need of a commercial real estate financing. The financial sources for real and substantial estate includes: Regional banks, Private investors, Insurance companies, Saving and Loan institutions and Mortgage banking firms. First let’s touch on the obstacles that occur during the process of acquiring the church mortgage loans & church financing.
The Major Church Financing Difficulties:
(1) Church properties are unique and so, for this reason Lenders have a great apprehension regarding this matter because if the loans are not paid within a stipulated time, Lenders will be accounted for it. They have to assume ownership of the property. Owing to unique property features, it is not going to be easy to come across a new owner.
(2) For getting the hold of church loans, Lenders often entail the need of “personal guarantors” especially on account of prior observation with reference to the complexities that are involved in selling the church property again.
(3) When the church financing needs are attained, there are many objectionable terms that get exist. Such as: Minute amount of loans, low loan-to-value (LTV) of 50% to 60%, short-period time of loans and rates of high interest. By this, churches get many possibilities to face the countless financial difficulties.
(4) More than Purchasing and/or Refinancing, Church Financing, Church Construction Loans, Church Renovation and Land acquisition loans are considered as more intricate to deal with. Therefore, needed repairs are delayed for an indefinite period and new churches take lots of years to become a reality.
The Practical Solutions for the Problems which have been Issued above are:
(1) High LTV: High LTV of 75% to 85% would generate a realistic amount of about 15% to 25% that can be utilized for the purpose of down payment or non-financed portion in refinancing.(2) Long-term loans: To make the church financing more successful, rather than short-term, church financing should be of a long term, i.e. up to at least time period of 30 years.
(3) Non-Recourse Loans: Being reluctant towards individual guarantors fetches a non-traditional church lender. And than through this approach, church lending will no more rely on individual guarantors for the church financing.(4) Large sum of Loan: Ability to accommodate large church loan needs, at least of $500,000. This move would than persuade churches to finish their most business financing in one stage rather than by going through many stages.
(5) Low interest rates: Churches are being charged with the sky-scraping interest rates than it is actually required. Church financing payments can be phenomenally reduced if the payments are restricted to prime plus 1% or less than that. As a result, long-term church loan as well as decrease in overall payment will improve the church cash flow considerably.
For more detail log on to www.church-financing.com. Church Financing is a church loan division of Griffin Capital Funding offers church financing and loans with no personal guarantees, favorable rates and good terms.
5 Creative Tips for Business Owners to Obtain Financing
Capital is the crucial ingredient for any business to grow. This holds true whether you are a one-person firm with minimal revenue or a 100-person company with significant sales. Yet so many entrepreneurs and business owners complain about how difficult it is to attain. Here are just five of the numerous ways to access capital taken from the informative new book, Solving the Capital Equation. Use these ideas to spark your creative thought process and get the money you need to elevate your business.
· Form strategic partnerships. Consider the following: Who is already reaching your client or customer base? Who offers products or services that may be a great fit for your client or customer base? Who has a skill set or functional expertise that your firm lacks? All of these entities would make great prospective partners. Identify them, then craft a win/win partnership. Why spend money you do not have when you have something else of value to offer them your firms product and services! You can use partners to access the sales force, marketing, IT, accounting, management expertise – to name just a few of the services you would otherwise have to pay for.
· Barter. As a business owner, you have a product or service that someone wants. Otherwise you wouldnt be in business. You can barter these products or services for those products and services you need to grow your business or service your customer. Or you could barter for personal items that you would typically have to withdraw funds from the company to pay yourself then pay for directly. You can barter for advertising, travel, legal or accounting services, televisions, landscaping, cleaning services
· Find a strategic investor. Is there a larger company that would benefit directly from your service or product offering? If so, contact them. If you can convince them that your company can directly or indirectly positively impact their bottom line either through a sales increase or a cost reduction, you are likely to garner financing in the form of direct equity, a loan, use of their credit, prepaid contracts, or payment of development costs. Look around. Potential strategic investors abound.
· Tap your suppliers. Are you trying to rapidly expand your business and need money to pay your suppliers? Why not ask your supplier to advance you the money? If your expansion will contribute a sizable portion of your suppliers annual receipts, you can induce the vendor to provide a 12-18 month loan by promoting how he/she stands to benefit. At the least, negotiate a 90-day payment arrangement.
· Seller finance. Who knows the business or asset better than the person or entity selling it? If you are growing your business through acquiring other businesses, seek seller financing. Give them a lien against the business so they get the business back if you default. Suggest it as a way for you to know you are getting what you paid for. Added benefit: reduces risks that the company has hidden problems which greatly decrease its value and that the owner would start another competing business.
Personal Finances – Getting Off the Paycheck to Paycheck Roller Coaster
There are three traditional methods of managing personal income.
1. Budgeting,
2. Keeping a spending history, and
3. Doing nothing (also known as living from paycheck to paycheck).
Budgeting involves setting what percent of future income is to be spent on which categories of expenses, and then recording all purchases in order to track how well spending is staying within the predefined limits. The process sounds very simple, however, it is difficult, in my opinion, to stick with a budget for very long. The energy and dedication needed to keep track of where the money goes is tremendous. I’ve tried budgeting on several occasions and failed miserably because I couldn’t stomach keeping track of every penny I spent.
Traditional budgets also tend to fail because the setting of rigid spending limits does not lend itself well to being flexible. When unforeseen expenses pop up, a budget can be rendered useless very quickly. It’s my experience that budgets can feel like monetary straight jackets that are soon abandoned.
Spending Histories – A Vicious Cycle
Keeping a spending history also involves the recording of every penny spent. The intent is to use the spending history as a basis for identifying spending habits that can be improved and then making needed changes to future spending patterns. The main weakness of keeping a spending history is that it is focused on past activity and, therefore, is of little help when a person is trying to make immediate decisions about spending for current and future requirements.
Here’s the normal cycle of keeping a spending history. This cycle highlights the spending history’s weakness as a personal cash flow management tool.
1. It takes time to accumulate a spending history. While accumulating the history, inappropriate spending habits will probably continue. If you don’t consistently continue your bad habits, you won’t be able to document them in your spending history.
2. You have to keep track of, and record every penny of your spending. Spending information must be recorded in some type of tracking device that is capable of organizing the information and displaying useful reports and graphs. Two popular examples of these tracking devices are Quicken and Money. As mentioned earlier, keeping track of every penny spent, and dutifully recording that information, takes dedication and a lot of energy.
3. Whether or not changes to spending habits are effective, and whether or not habits are really starting to change, cannot be determined until additional spending history has been accumulated. After you have accumulated sufficient spending history such that you can see some of your bad habits, it’s time to adjust your spending patterns. To determine whether these adjustments are appropriate and have the desired effect, you have to return to step 1.
The failure of keeping a spending history as a personal cash flow management tool is, in my opinion, to be expected. This money management technique is, I believe, based on GAAP (generally accepted accounting practices) which are used by businesses specifically to keep track of what happened; not plan for what is about to happen. The “about to happen” part is left to annual budgeting processes. This accounting approach is appropriate for businesses; but, is cumbersome and unresponsive for personal use.
The software used to accumulate a spending history, in my opinion, also contributes to the failure of the spending history technique. These types of programs tend to be too complicated and inflexible for many people. I’ve tried both Quicken and Money. In addition to my own dislike for these programs, I have met very few people who actually use Quicken and Money for their intended purposes. The usual reason I hear for buying either of these programs is because they contain a check register. That is the only feature being used.
The “Doing Nothing” Method
I believe most people end up doing nothing either because they’ve never been shown a better way, or because, like me, they’ve tried and failed at budgeting and/or keeping a spending history. Doing nothing means their personal finance management is reduced to paying bills when the bills come due with the money that is on hand at the time. They live from paycheck to paycheck with periods when they have lots of money interspersed with periods when there may not be enough on hand to buy bread and milk. This roller coaster approach to personal cash flow, in my opinion, encourages ill advised spending and almost guarantees growing indebtedness.
What Is Month-To-Month Personal Finance?
There is a new alternative which overcomes all of the above personal cash flow management problems. Created out of practical necessity, this new alternative may require new ways of looking at, and thinking about personal finances and the tools that are used to manage those finances. Before looking at this new approach to managing personal cash flow, let’s first take a new look at the activities that comprise personal finances. Before you can begin to effectively manage your finances, it helps to have an understanding of what you are managing.
I break down month-to-month personal finances into the following five activities.
1. Receiving income.
2. Paying bills.
3. Paying day-to-day expenses.
4. Paying for larger than normal expenses.
5. Setting aside a cushion.
This list does not include any activity intentionally associated with wealth building. The concern here is dealing with the fundamental issues of living comfortably day-to-day and paying the bills on time. Once those issues are dealt with successfully and consistently, building wealth becomes a possibility.
It is my contention that the main reason people get into trouble with their finances is because they let activity 1, getting a paycheck, control when all of the remaining activities happen. Bills are paid typically on payday because that’s when money is available. Depending on how much is needed to pay bills each payday, the amount left over for day-to-day expenses could be a lot or a little. Sound familiar? And, since the receipt of paychecks is determining when bills are paid, and the size of the bills are determining how much pocket money is left, there is rarely any excess money for activities 4 and 5. Setting aside money “for a rainy day” just doesn’t happen. Making major purchases, such as replacing the refrigerator when it goes on the fritz or buying a new set of tires, adds even more to the credit card balances.
Having growing, uncontrolled debt and no savings can, I believe, be attributed directly to letting your paychecks control your cash flow.
Getting Off The Roller Coaster
How do you break the living from payday to payday roller coaster cycle? Budgeting and keeping a spending history, while very useful to some people, are, in my opinion, not the solutions that work for most of us. Getting control of your finances is, instead, a matter of simplifying your finances. This is done by decoupling all of your personal finance activities. The five activities listed above are related, but they can be managed separately. Once you begin handling your personal cash flow management activities separately, something magical happens. The domino effect of (1) get a paycheck, (2) pay bills, (3) put what’s left in your pocket, is stopped. Instead, your bills begin to get paid on time, and money for day-to-day expenses is consistent from week to week.
The decoupling of personal finance activities is achieved by consistently applying these two techniques.
1. Separate the receipt of income from the paying of bills. Instead of paying bills on payday, sit down and arrange for the payment of bills on a consistent schedule that is independent of when income is received.
2. Fix the amount of money for day-to-day expenses at an appropriate weekly amount. Instead of pocketing what’s left over after payin
g
the bills, “pay” yourself the same amount on the same day every week regardless of when you get paid.
When consistently applied, these two very simple rules for managing personal cash flow are powerful. I’ve been using them for several decades in my personal finances. Prior to stumbling on these techniques, I used to lie awake nights worrying about how I was going to pay the rent. It was habit for me to be continually on the lookout for yet another bill consolidation loan. Sometimes buying groceries was not possible on short paydays. Setting aside savings wasn’t even something I thought about.
Since starting to use personal cash flow management tools that are based on the above two simple rules, money is no longer a controlling force in my or my wife’s lives. We always pay our bills on time. Lois and I continually have money in our pockets for day-to-day expenses. We have no credit card debt since we pay our statement balances in full every month on or before the due date. And planning for major and unexpected expenses is simple because we have a detailed, forward focused view of our current and future cash flow. Money and bills are not the sources of stress and discord they used to be.
It’s Easy If You’re Willing
Applying the above decoupling rules to your personal finance does not require any special tools. A properly constructed manual or software spreadsheet will do the trick. I used such a spreadsheet in Excel to help a teacher friend of ours go from “more month than money” to “more money than month” in just a few weeks. The problem was that our friend had to come see me regularly so I could update her spreadsheet. She was not that knowledgeable about using Excel. Plus, I was having to coach her on the techniques that made the spreadsheet work. That was when I made the decision to write a program so that I, and anyone else who is interested, would have a readily available, easy to use tool for simplifying management of their personal cash flow.
You also can achieve financial peace of mind. It’s easy if you are willing to make a few simple lifestyle changes including using a personal cash flow management tool that is based on the two decoupling techniques discussed above.
An Assessment of the Mobilization of the Household Savings and Corporate Investments Via; Indian Stock Markets
CHAPTER 1
Introduction
Financial system facilitates intermediation between savers (public) and investors (firms), and helps to translate saving into investment. Financial system consists of intermediaries, instruments and markets. Intermediaries are those who intermediate between savers and investors, instruments are the claims issued and markets are place where such claim is transacted. The role of financial intermediation, thus reduce market imperfections arising from informational problems and improve allocation of resources. The capital market is one of the intermediaries between savers (public) and investors (corporate sector). Capital market is seen as a market where the corporate sector mobilize funds by means of equity and debentures issue, although it include s market for state bodies securities such as gilt edged securities. In pre-reform periods corporate sector had to function within a fiscal framework and to facilitate investment in the desired directions; the state had actively participated in the development and control of financial system consisting banks, specialized institutions and the capital market. It was seen that financial sector reforms since 1990s brought changes in this set up and led to a movement away from control to a free environment.
Indian economy is going thorough the phase of economic transition since 1991. The Indian capital market received special attention under the policy of liberalization. Reforms in the security market, particularly the establishment of SEBI, abolition of controller of capital issue (CCI), market determined allocation of resources, screen based nation wide trading, market determined interest rate structure have greatly improved the regulatory framework and efficiency of trading and settlement in the Indian capital market. In India the ratio of market capitalization to G D P rose from about 3.6 per cent in the early 1980s to over 34 per cent in 2003, and sock market turn over ratio is 1.39, which rank 6th among 92 countries (Word Bank, 2003). The number of new issue that got listed on the stock market went up considerably during first half of the 1990s but there after till recently the primary market witnessed considerable decline in terms of both number of issue and amount of capital raised (R B I, 2006). It clearly indicates that stock market performing well but its role, as an intermediary to channels households saving for corporate financing of investment is in question.
Literature Review of Financing of Corporate Firms
The corporate firms in developing country heavily depend on external finance and new issue to finance their growth of net assts as compared with developed countries (Ajit Singh 1995). In contrast to this Cherian Samual (1996) argued that stock market play a limited role as a sources of finance for Indian as well as U.S firm. In broad terms India would classified as a bank oriented economy based on role played by the commercial bank. Both study agree with the fact that external sources is the important sources of finance for firms in developing countries, but they differ in respect of role played by the stock market as a source of finance. He also showed that for a period of 1978 to 1998 internal sources of finance provide about 38 per cent of total fund, where as external sources provide remaining 62 per cent in India and also suggest to the extent that these results are applicable to other developing countries.
It is expected that an underdeveloped and imperfect financial market will discourage the firms raising finance from stock market, bank and should induce the corporate market to largely grow from internal sources. This phenomenon is partly explained by Taggart and pecking order theory. The Peking order theory emphasis the financing hierarchy faced by the firm where, in firms preference sources of finance is internal, debt, then possibly hybrid securities like convertible bond and last resort equity (Mayer, 1986). It has been pointed out by Taggart (1985) that underdeveloped financial markets do not offer freedom of choice of corporate financing instruments. This forces the firms to accept second best, sub optimal capital structures.
There are number of literature which holds the view that among the corporate in developing countries India depend less on stock market and more on bank as a sources of finance (Cherian Samuel 1996, Ravichandran, Manas Paul, Binayak Pal, 2005)). The study of capital structure of seven developing countries by Jack Glen and Brian Pinto (1994) for the period of 1980-1992 suggests that there remains a significant difference in the capital structures of sample countries. In Brazil, more than two third of total financing is accounted for by equity where as India, Pakistan, and Korea carried relatively low level of equity. In India since 1996 to till recently the primary market has witnessed a considerable decline in the number of new of issue and total amount raised (Subash Gosh 2004).
The reasons for poor performance primary market are attributed to number of factors. Subash Gosh (2004) Pointed out that firms decision to go public over last decade depend on number of other companies that were getting listed over the last months. This suggests that Indian companies did not depend on the information content of initial returns while taking their decision to go public. He suggest that a key reason for this finding could be that, unlike the developed countries, it took a long time for Indian companies to get actually listed on the stock market after the promoters decided to go public. Sayuri Shirai (2004) also find that firms appear to have taken advantage of the two stock market boom in order to raise fund cheaply, but have shifted away from the market once the boom petered out. Therefore there has been no steady shift among the high quality firms from loans from banks and financial institutions to equity. This reflects an inadequate infrastructure for sound capital market despite SEBIs efforts to strengthen accounting, auditing and disclosure accounting and to enable high quality firm to issue shares at high price than low quality one regardless of the booms bust cycle of stock prices.
More interestingly it is demonstrated that internal and alternative financing (capital market) channel provide the most important sources of finance for small medium enterprises, the most successful sector in the Indian economy (Franklin Allen, Rajesh Chakrabarti, Sanker De, Jun Qj Qian, Meijun Qian, 2006). They also find that entrepreneurs and investors relay more on informal governances mechanisms, such as those based on reputation, trust and relationship, than formal mechanisms, to finance corporate growth. In India the large firms seems to use (based on R B I and ICICI data) more internal finance and bond than smaller firms, while latter report higher bank loans and total borrowings than the former. Larger firms have a higher average age and thus have longer and better reputation than smaller firms, which enables them to finance growth from greater retentions and to access the bond market more easily, at lower cost, smaller firms on the other hand have a lower average age which reduce their ability to access the stock market for long terms funds or to use retained profit (David Cobham and Ramesh Subramanium, 1998). Too conclude it is seen from the existing review of literature that a) Indian corporate sector depend more on external finance, particularly bank and debt finance b) Secondly primary market is not performing well.
Problem of the study
Firms in developing countries are found to be more depending on external sources to finance their growth. In India even after 15 years of capital market reforms, poor performance of primary market is not only accounted for limited role played by the stock market in financing of corporate but also since 1996 till recently the primary market has witnessed a considerable decline in terms of number of issues and total
amount of capital raised (RBI, 2006). It is quite interesting to note that secondary market is in boom (table appendix) as a result there is rise in share premium, which will reduce the cost of issuing shares / debentures. But corporate firms prefer banks and retained earning than capital market to finance their investment. It in turn result in two problems a) stock market as an institution for financing of corporate sector via mobilization of households saving is in question b) long term financial heath of the firms is in trouble as result of high dependence on debt finance (mainly bank and bond). It is in this background this study is proposed with following objectives.
The objective of the study
The study aims to analyze the financing pattern of corporate, in general and capital market in particular, in India. It also looks into flow of saving from households sector for financing of corporate sector via stock market. The main objectives of the study are:
Trends in Financing Pattern of the Corporative Firms in India
Performance of New Issue Market
Changing Pattern of Financial Assets of Households in India
Methodology and data sources
For the study, financing pattern of firms is broadly divided into two, internal and external. Then the external finance is divided as a) borrowing b) paid up capital c) trade deficit and current liabilities. The borrowing consists finance from debentures, bank, and financial institutions. In order understand role of stock market for financing of corporate we take the trends in primary market in general and specifically new issue market. Then have a look into the industry wise classification of capital raised from the primary market. To analyze the intermediary role-played by the stock market to channel the households saving into investment in corporate sector, we take the changing pattern of financial saving of households in the country. Simple ratio and percentage are used for the analysis. The study had primarily relied on companies financing data on non-government non-financial public limited companies published by RBI and handbook of statistics published by SEBI.
Organization of the study
The study consists of six chapters including introduction and conclusion. The introductory chapter is more generic in nature, including the problems of the study, review of literature, objectives, data and methodology. The second chapter consists of the detailed examination of the financing pattern of the corporate sector. The third chapter consists of the Industry-wise Classification of Capital Raised. In the fourth chapter discuss Flow of funds to corporate sector via corporate securities. In the chapter five we analyze the Changes in Financial Assets of the Household Sector.
Limitation of the study
The study is subjected to some limitations as usually attributed to secondary data study are applicable to the present study also. The time limit, which has been the greatest constraints in undertaking the study, had caused some bias, which could not be avoided but can be minimized. The data, which have collected through secondary sources, could also have shortcomings usually observed in secondary data.
CHAPTER II
Financing Pattern of Corporate Sector
A large network of commercial banks, financial institutions, stock exchanges, and a wide range of financial instruments characterize the Indian financial system. The central issue regarding the finance for the firms is its composition between external and internal sources. Internal sources comprises of paid up capital, reserves and surplus, and provision. External sources include fresh issue of paid up capital, borrowing, trade dues and current liabilities and miscellaneous non-current liabilities. Diagram given bellow depicts the sources of financing of an typical corporate firms
Pattern of corporate finance
Trends in Financing Pattern of Indian corporate sector
The firms fundamental choice of finance is between internal or external. It is seen in the literature that in developing countries corporate firms are depend heavily on external finance where as in developed country main sources of finance is retained earning. In India firms are more depend on external sources (debt) than other developing countries (Ajit Sing 1995,Charian Samuel 1996). In India, having a under developed capital market and banking system it is expected that imperfect capital market will discourage firms from raising external finance and should induce the corporate sector largely grow from internal finance.
Table appendix1: Despite there is a considerable variation among various countries the mean population internal finance is 38.8, while the issue of equity finance is only 39.3 and long debt provided 20.3 in world. Where as in India long-term debt is higher and equity finance is less as compared with than all other developing countries concerned with the study. It may be due to highly developed banking system in India as compared with capital market (Charian Samual 1996, Singh 1995, Sayuri Shirai 2004).
Table 1: Financing pattern of Indian firms
Year Internal External
1986-90 31.84 68.16
1991-95 29.92 70.08
1996-00 36.92 63.1
2001-05 60.22 39.78
1985-2005 39.80952 60.19524
Sources: S E B I, R B I
The table1 shows that in between 1985 2005 periods the external finance contributed about 60 per cent of total finance and internal finance the remaining 40 percent, of non governmental and non-financial companies. During the period of 1990-95 on an average external sector contributed 70 per cent of total finance, it may be due to boom in the primary market in that period. It is seen from the table that external source is more important for financing corporate sector in India during 1895-2000. In last five years the internal sources accounted for more than half of total finance of the corporate companies as a result of rise in retained earning of the firms (RBI, 2006).
Components of external finance of corporate sector
The external sources are the most important sources of finance for all industries in the country. The external source mainly consists of paid up capital, borrowing (debentures, bond and financial institutions) and trade dues and current liabilities.
Table 2: Components of external finance of corporate sector
Year External sources Paid up capital Borrowing a) Debentures b) Bank c) F I Trade dues current liabilities
1985 58.5 3.9 31.3 10.4 11.3 3.7 23
1986 65.5 2.6 36.8 13.2 13.1 6.1 25.6
1987 70.4 3.4 40.1 13.6 14.1 8.6 26.6
1988 63.7 15.8 33.9 9.8 9.8 10 13.7
1989 70.9 7.4 37.2 4.3 19.2 9 26
1990 70.3 6.8 41.4 14.3 11.5 9.6 21.9
1991 62.4 8.7 33.1 6.5 9.7 11.9 20.3
1992 71.9 6.8 41.2 12.2 8.8 14.3 23.8
1993 73.9 22.3 37.5 7.2 12 13.8 14
1994 71.1 29.6 24 6.9 -2 7.6 17.4
1995 71.1 26.8 27.6 2.8 12.4 3.9 16.4
1996 63.4 13.9 31.4 3.5 17.7 6.1 17.9
1997 64.1 10.1 45.6 5.4 13.3 10.2 8.2
1998 66.6 7.6 45.9 12.2 10.1 10.1 12.8
1999 61.7 11 37.5 5.1 29.3 11.1 12.8
2000 59.7 21.9 20.1 3.8 8.4 5.2 17.2
2001 42.9 12.8 9.3 9.5 -0.8 -3.2 20.2
2002 34.7 10.5 8.8 -1.5 21.5 -0.7 14.3
2003 30.2 9.4 5.6 -5.6 27.1 -0.6 14.8
2004 46.6 9.3 17 -3.5 21.4 5.06 20.3
2005 44.5 10.8 15.3 -1.1 15.2 -2.6 18.5
Sources: S E B I, RBI
In table2 external sources is divided into three components a) paid up capital b) borrowings c) trade dues and current liabilities. The corporate sectors borrow either from bank, financial institutions or from stock market by issuing debentures or from all the three sources. Looking at the disaggregated data on various external funds, it is seen that bank contributed major component. The declining in external sources has been co
ntributed by decline in the share of paid up capital and borrowing during 1996-2006. The decline in borrowing has been contributed by decline in share of debentures and financial institutions, while the share of bank remained more or less stable during the same period. Table also shows that during the first half of 1990s there is growing reliance of private corporate sector on paid up capital. The striking finding from the table is the importance of bank, trade dues and other liabilities as sources of finance. In terms of relative efficiency of the market vs bank, Indias bank stock market are small relative to the size of its economy, and the financial system is dominated by an efficient but underutilized banking sector (Franklin Allen, Rajesh Chakraborti, 2006). As rightly pointed out by Charian Samuel (1996) and Ajit Singh (1995) Indian financial system is predominantly a bank oriented one. Despite of these during this period, credit deployed by banks and financial institution were at low rate of interests. Low rate of interest made industries more depend upon the financial institutions for resource mobilization. The state promoted and regulated financial system comprising mainly of bank, AIFIs and capital market, and policies in relation to each of them seem to suggest that it could have stimulated external financing (Dennis Raja Kumar, 2001). It is possible that the requirement of large investments could also have compelled the shift from internal to external sources.
The importance of trade credit and other current liabilities increases in the small-scale segment accounting for over half of or and almost two third of all financing for the SSI (Small Scale Industry) and SSSBE sectors respectively (Franklin Allen, Rajesh Chakraborti, 2006). Since many firms in SSSBE (Small Scale Sector Business Enterprises) sector are engaged in wholesale and retail trade, given the relative importance of current liabilities in these sectors, this finding is not too surprising.
Performance of Primary Market
In primary market, new issue of equity and debt are arranged in the form of new flotation, either publicly or privately or in the form of a rights offer to existing shareholders. Households, firms, financial institutions, who are in financial surplus, exchange their saving for shares or debentures of the companies.
Table3: New Capital Issue by non government Companies
Year Average no of Issue* Amount
1971-1975 154 72
1976-1980 176 123
1981-1985 638 988
1986-1990 371 3683
1991-1995 1205 17548
1995-2000 241 5906
2001-2004 24 6092
Sources: RBI, * It include shares, bonds and debentures
In the Primary market (both new issue and existing issue), number of issues by the corporate sector show upward trend from 154 on an average during 1970-75 and it reached the peak with an average number of issue of 1205 during 1991-1995. The table shows that after 1995 there was a sharp decline in number of issue to 241 during 1995-2000 and 24 in 2001-2004 respectively. The total capital raised was Rs 72 crores in 1971- 75, in 1991-95 it rose to Rs 17548 crores then declined in 1995-2000 to 5906 crores. In between 1971-1975 and 2000-05 average number of issue declined from 241 to 24, while amount of capital raised increased from 5906 crores to 6092 crore. It is interesting to note that this sharp decline in average number of issue did not reflected in the amount of capital raised by the corporate sector due to rise in share/debenture premium in the primary market.
New Capital Issue by the non -financial and non-governmental Companies
New issue market creates financial claims. It deals with those securities, which have been made available to public for the first time. The performance of new issue market is an indicator of how many new firms are financed by the stock market.
Fig1: New Capital Issue by the non -financial and non-governmental Companies
Sources: SEBI, RBI
In the new issue market, there was boom in the first few years of 1990s. But after that there are a continuous fluctuation in terms of number of issue and amount raised by the corporate sector on account of inefficiency in the primary market. The number of issue of capital had gone up from 86 in 1992 to 577 in 1995 then registered a substantial decline to 22 in 2004. There is relatively small raise in the number of issues in 2004 and 2005, while the amount of capital raised are increasing at greater extent simply because of higher share/debenture premium in new issue market. It may be the due to the influence of high market capitalization of securities in the secondary market.
Ajit Singh (1995) explains the boom in primary market in relation to the cost of equity capital. The cost of equity capital relative to that of debt became much more favorable to equities during course of 1980s, the steep rise in international interest rate as well as financial depression rise cost of debt capital. Investors optimism and business condition, small and young companies are likely to go to public during the hot period to take advantage of investors enthusiasm and firms decision is not depend on information content of initial return (Subhash Gosh.2004). The relatively high rate of interest in the banking sector in early 1990s (Parthpratim Pal, 2002) also led the firm to approach capital market to finance their investment in the early part of 1990s. During 1990s firms do not have the choice of larger number of sources, so they are depend upon second best in the underdeveloped stage of its capital and bank market. Along with this the influence of the government in 1990s also led the firm to depend more on capital market in 1990s (Agit Singh, 1995).
The decline phase of primary market there after is explained by
a) If a company decided to go public then the average time lapsed between the offer trades and listing date being four month, the deciding to go to public has got listed only after six month (Saurabh Gosh, 2004).
b) High cost of equity capital and declining rate of interest bank lending after banking reforms (Parthpratim Pal, 2002) encourage the corporate depend upon debt finance.
c) Bank oriented capital market system in the country like Japan and Germany and long term conduct between firms and bank also encourage the firm to depend on the bank for its finance. The repeated scams in the stock market make it as a less reliable and high risky source for financing of corporate investment activities.
CHAPTER III
Industry-wise Classification of Capital Raised
Industry wise classification of capital raised from the primary market will help us to identify the industries, which are depend least on capital market for financing their investment during the declining phase of primary market, than compared to boom period in the primary market.
Table 4: Industry-wise classification of capital raised
Industries 1994-1999 2000-2005
Number Amount Number
Amount
Banking/Financial institutions 9 2856 12 6817
Cement & Construction 9 451 3 222
Chemical 60 1087 3 168
Electronics 14 342 3 71
Engineering 23 262 42 507
Finance 163 1924 4 252
Food Processing 77 681 2 40
Healthcare 141 485 3 141
Information Technology 15 385 21 1311
Paper & Pulp 9 169 1 327
Plastic 19 84 37 37
Power 22 296 1 128
Others 208 4989 11 6079
Total 648 13970 78 16105
Sources: SEBI, RBI
(All numbers are in average)
Looking at the disaggregated data on various industries raising capital from the stock market on an average total number of issues was declined from 648 to 78 during 1994-99 and 2000-05. . It is interesting to note that average number issue was 648 during 1994-99, raised average amount of capital of 13970 crore, while the capital raised by 78 issues during 2000-05 is 16105 crores. The table also
shows that there is an increase in the number of shares / debenture issued by three industries, engineering, information technology and plastic.
The literature on financing of Indian corporate sector shows that small and newly emerged companies are more depend on stock market fiancé as compared with debt finance. Financial healths of engineering and information technology industries are better as compared with other industries after reforms. In the case of these two industries accounted for not only an increase in number issue but also rise in the share premium, which may be the result healthy financial indicators of the company along with rise in the market capitalization of existing securities of the companies in the secondary market. In the case of information technology industry with an increase of only 6 issues but amount raised increased from 385 to 1311 crore. This further reduces the cost of issuing shares / debentures in the primary market.
All data primary market shows that shows there is rise in the share premium in the primary market, which will reduce cost financing corporate from stock market, but in contrast to this firms are not depend on stock market to fiancé their investment.
Flow of funds to corporate sector from various sectors of the economy
As pointed out by Mayer (1988), there are two sources of information for studying aggregate corporate financing pattern in different countries. The first is national flow of funds between different sector of an economy and between domestic and overseas residents. The second sources are company account that are constructed on an individual firm basis but are often aggregated or extrapolated to industry or economy levels.
Table 5: Flow of funds to corporate sector via various sectors of the economy
Year 1985-1995 Per cent of total finance
Banking 13257 29.2
O F I* 14654 32.3
Government 1081 2.3
World 2637 5.8
Household 3857 8.5
Sector n e 9275 20.4
Total 45252 100
Sources: Flow of funds account s of RBI
Table 5 shows that banking and other financial institutions account for more than 60 per cent of total flow of funds to the corporate sector during 1985-1995. Financial institutions other than banks, which account for 32.3 percent funds, flowed to the corporate sector during the same periods. The house holds sector contribution is only 8.5 per of total flow of funds to the corporate sector during 1985-1995. The flow of accounts also strengthening the argument that stock market played a limited role as an intermediary to channel the households saving to corporate sector investment.
CHAPETR IV
Flow of funds to corporate sector via corporate securities (1951-1995)
Corporate securities contributed only a small portion of total finance raised by the corporate firms before 1980. While 1980 onwards there was continuous increase in the capital mobilized by the firms through corporate securities.
Table 6: Flow of funds to corporate sector via corporate securities (1951-1995)
Year Corporate Security (average)
1951-1955 41
1956-1960 58
1961-1965 167
1965-1970 66
1970-1975 94
1975-1980 316
1980-1985 1020
1895-1990 3631
1990-1995 24481
Sources: Flow of funds account s of RBI
Table 6 indicates that during 1975-80 capital raised by the firm through corporate securities were only 316 corers (average), while in 1990-95 it increased to 24481 corers (average). Since 1980s there was a boom in the primary market, both in terms of number of listed companies and also in capital raised through stock market by the corporate sector in India. Instrumental wise flow of funds should strengthen the argument that there was a boom in the primary market immediately after the capital market reforms. But when we look at the sector wise flow of funds banks and financial institutions accounted for more than 60 per cent (table5) of flow of funds to corporate sector during 1985 – 1995. It is also seen that even in the booming period of primary market the financial flow from households sector to corporate sector is relatively less as compared with bank and financial institutions other than bank.
Debt Equity Ratio
Debt to equity is the ratio of total debt to total equity. It compares the funds provided by creditors to the funds provided by shareholders. Equity is defined as net worth share capital and, reserves and surplus. Total debt means both long term and short-term borrowing. As more debt is used, the debt to equity ratio will increase. Since firm incur more fixed interest obligations with debt, risk increases. On the other hand, the use of debt can help improve earnings since firm get to deduct interest expense on the tax return.
The Debt to Equity Ratio is calculated as follows
Debt Equity Ratio = Total Debt/ Equity
Fig 2: Debt Equity Ratio (year wise debt and equity raised)
Sources: SEBI, RBI
In 1995 debt equity ratio is 1.3, but has risen to 55.3 in 2002. The debt equity ratio for Indian companies during 1995-2005 is 5.6. The last three years debt equity ratio is 3.5 it is not due to rise in number of issues equity but due to high share premium through new issue of capital.
Indian companies are continually relay heavily on external sources of finance averaging 60 percent during the period 1985-2006.On the other hand the amount of equity finance has been reducing continually in recent years, it will rise share of the debt in the total finance of corporate firms. Dennis Raja Kumar (2001) suggest that it was not relative cost, which induce more of equity financing but was the results of information asymmetry as seen through moral hazards, adverse selection signaling. The dependence on debt finance make Indias corporate sector vulnerable to domestic financial shocks. At macro economic level, this vulnerability stems from large fiscal deficits and sizable government debt, which has the financial potential to crowd out private investment and slow growth (Pretia Topalova, 2004). Too conclude high debt equity ratio may be a signal for future financial crisis in the corporate sector.
CHAPTER V
Changes in Financial Assets of the Household Sector (At Current Prices)
Households constitute the primary sources for capital formation in the country. Of the saving ratio of 28.1 per cent in 2003-04 households accounted for 86.4 percent, and household sector ratio was 24.3 per cent (1993-94 base periods). Saving of the households is mainly categorized into physical saving and financial saving. Financial saving of the households is increased from 47 per cent on an average in 1980-1991 to 52 percent in 2003 (Table 4 appendix). The one of the objective of capital market reforms is to facilitate the financing of corporate sector from households saving via stock market. It is believed that stock market development will improve not only gross household saving but also change the pattern of households saving towards financial assets, particularly in shares and debentures.
Fig 3: Saving pattern of household sector
Sources: SEBI, RBI
Fig 3 shows that financial saving as a percent of total saving has increased during 19991 to2003, but percent share of shares and debentures in financial saving is continually decreasing from 1994 to 2005. In 1994 percentage share of shares and debentures in total financial saving of the households was 13.5 per cent, while in 2004 it declined to .1 in 2004 and 1 in 2005. In 2006 there is a slight increase in share of shares and debentures in the assets basket of the households, this is attributed by high price of shares / debentures in the primary market. Since 15 years after financial liberalization households are investing in the traditional asset such as, gold bank deposit etc than riskier assets like shares or bonds.
Conclusion
The stock market can boost economic activity through creation of new companies and liquidity (Levine and Becivenga Smith, 1996). Agarwal (2001) also suggest that in India the well stock market may be able to offer financial services other than those of the banking system and therefore provide an extra impetus to economic activity. On contrasts to this in India firms are depend less on capital market for financing their investment. Stock market finances only few new companies in recent years. In this context the argument that stock market can boost economic activity through creation of new companies is questionable. It is true that stock market provide liquidity to securities and also financial services other than those of the banking system, which facilitate growth of economic activity. It is seen in the study that the primary market securities is exhibiting certain features that limit their secondary market liquidity. a) Small size of issue b) equity ownership is highly concerted with in founders or controlling shareholders. This limiting feature are small size issue and also as find out by Franklin Allen and Rajesh Chakraborti (2006) equity ownership is highly concentrated with in founders or controlling share holders. In the long run declining new issue and concentration of equity ownership may partially limit liquidity in the secondary market.
In India firms preference is for banks and bond finance and less on equity, lead to high debt equity ratio. As rightly said by Petia Topalova (2004), the dependence of Indian corporate sector on banks and bond finance make it vulnerable to domestic financial shocks. More over Indian companies are also depending more on short-term finance, which may also worsen the current liquidity ratio of firms.
There is little evidence of an increase in aggregative gross domestic saving or an increasing in the proportion of financial saving as a result of growth of stock market (Nagaraj, 1996, Nagashi 1999). In this study also it is seen that percentage share of shares and debentures in financial assets of the households is continually declining after 1994 to till recently. The recent increase in the capital raised from the stock market is mostly due rise in share premium in the primary market, so it cannot be accounted as improvement in primary market. The small size of issue in the primary market and declining trend of shares and debentures in the financial assets holding pattern of the households rightly indicating that stock market played a limited role in mobilizing households saving to finance corporate investment.
Bibliography
Agarwal R N (2004), Capital Market Corporate Financing Pattern and Economic Growth in India, Institute of Economic Growth, University Enclave, Delhi
Charlse J Kenny and Todd J Moss (1998), Stock Market in Africa: Emerging Lions or White Elephants, World Development, vol 26, pp : 829-843.
Cherian Samuel (1996), The Stock Market as Sources of Finance, A Comparison between Indian and U S Firms
Cobham, David and Subramanium(1998), Corporate Finance in Developing Countries, New Evidence from India, World Development, Vol 26, pp : 1033-1047
Dennis Raja Kumar J (2001), Financing Patterns and Investment, A Case Study of Private Corporate Sector in India, Center for Development Studies, Thiruvanathapuram
Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun QJ Qian, Meijun Qian(2006), Financing Firms in India, March 15
Machiraju H R (2000), The Working of Stock Exchanges in India, New age International (p) Publishers.
Makoto Nagaishi(1999), Stock Market Development and Economic Growth, Dubious Relationship,, Economic and Political Weekly, July 17.
Nagaraj R (1996), Indias Capital Market Growth Trends, Explanations and Evidence, Economic and Political Weekly, vol xxx1
Petia Topalova (2004), Overview o f the Indian Corporate Sector 1982-2002, April, Working Paper /04/64,Intenational Monetary Fund.
R B I (2006), Handbook of Statistics on Indian Economy, Reserve Bank of India, Mumbai
Ravichandran, Manas Paul, Binayak Pal (2005), Clearing and Settlement Mechanism for Trades in Indian Corporate Debt Market, Securities and Trading Corporation of India Limited, Mumbai
S C Mayer, The Capital structures, Journal of Finance, July 1984
Samuel Charian (1996), Internal finance and Investment, Another Look, World Bank Policy Research working Paper, 1663
Saurabh Ghosh (2004), Boom and Slump Periods in the Indian I P O Market, Reserve Bank of India Occasional Papers, vol 25, no 1,2 and 3,Summer, Monsoon and Winter.
Sayuri Shirai (2004), Impacts of Financial and Capital Market Reforms on Coporate Finance in India, Asia Sacific Development Journal
SEBI (2006), Handbook of Statistics on Indian Economy, Securities and Exchange Board of India
Sharma V K and Chandan Sinha (2006), Reserve Bank of India, B/S papers No 26
Singh A (1995), corporate Financial Structures in developing Countries, I FC paper, Washington D C
Singh A (1997), Financial Liberalisation, Stock Markets and Economic Development, The Economic Journal, Vol 107, No 442,May, pp. 771-782
Singh A (2003), Corporate Governance, Corporate Finance and Stock Markets in Emerging Countries, Working Paper 258, ESRC Center for Business Research, University of Cambridge
Vidya Mahambare and Balasubramanyam V N (2000), Liberalization and Savings in developing countries: The case of India, Working paper 2000/004, Lancaster University of Management School.
Commercial Finance Funding Help And Working Capital Advice
e been some disappointing and unexpected actions taken by commercial lenders in response to recent financial events. This changing environment for business finance funding is likely to produce several new problems for commercial borrowers. To assist small business owners in their efforts to keep up with these imposing challenges, The Working Capital Journal is one of several commercial financing information resources which should be reviewed regularly. The working capital finance industry has primarily been operating on a regional and local basis for many years. In response to cost-cutting that has permeated many industries, there has been a consolidation that has resulted in fewer effective commercial lenders throughout the United States. Most business owners have been understandably confused about what this might mean for the future of their commercial financing efforts, especially because this has happened in a relatively short period of time. Of course, for some time there have been ongoing complex problems for commercial borrowers to avoid when seeking commercial loans. But what has produced a new set of business finance funding problems is that we appear to be entering a period which will be characterized by even more uncertainties in the economy. Previous rules and standards for commercial financing and working capital finance are likely to increasingly change quickly, with little advance notice by business lenders. Business owners should make an extended effort to understand what is happening and what to do about it due to this realization that substantial changes are likely throughout the United States in the near future for commercial finance funding. At the forefront of these efforts should be a review of what actions commercial lenders have already taken in recent months. The Working Capital Journal is one prominent example of a free public resource that will facilitate a better understanding of the responses by business lenders to recent economic circumstances. By publicizing actions taken by commercial lenders, this will contribute to these two goals, both of which are likely to be helpful to typical business owners: (1) To highlight controversial bank-lender tactics with a view toward reducing or eliminating questionable lending practices. (2) To help business owners prepare for commercial finance funding changes. Sources that currently include The Working Capital Journal are actively encouraging business owners to describe and report their financing experiences so that they can be shared with a broader audience to assist in this effort. Some of the most significant commercial financing changes reported so far by commercial borrowers involve working capital loans, commercial construction financing and credit card financing. A notable situation of concern is that predatory lending practices by credit card issuers have been reported by many business owners. Some specific businesses such as restaurants are having an especially difficult time in surviving recently because they have been excluded from obtaining any new business financing by many banks. One of the few recent bright spots in business finance funding, as noted in The Working Capital Journal, has been the continuing ability of business owners to obtain working capital quickly by business cash advance programs. For most businesses accepting credit cards, this commercial financing approach should be actively considered. Business cash advances are literally saving the day for many small business owners because most banks appear to be doing a terrible job of providing commercial loans and other working capital finance help in the midst of recent financial and economic uncertainties. For example, as noted above, restaurants are virtually unable to currently obtain commercial finance funding from most banks. However, if a restaurant accepts credit cards in their business operations, they are likely to be able to obtain needed cash from merchant cash advances and credit card factoring.
Jobs for All Positions
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Jobs are organized into the categories – accounting marketing, sales,software, telecom, BPO, enngineering, customer care, teaching,industry, finance, management,computer, multimedia, graphics,php, java, asp,internet, web development and SEO.
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Some of the Features of Online Personal Finance Software
As the Internet has exploded, many people have begun to rely on computers to assist with budgeting. Online personal finance is a multi-billion per year industry. Initially it was popular in helping small businesses with budgeting and tax concerns, but as the computer has become ubiquitous in American homes, average people have begun to regard the computer as indispensible to their personal finance needs.
One of the first, and most attractive, ways that online personal finance tools can help the average person is through automated bill pay. This is a very busy time for the average person who is working more than ever, has a family to attend to, and the many other stresses of day to day life. Automated bill pay is quite simple. The online personal finance software links a persons checking account to their various monthly expenses. It even allows for a person to specify when they would like the bills to be paid. This makes things much easier as this ensures the account is never overdrawn. Most automated payments are made after payday. This can be done for fixed expenses such as Internet or cable TV. Variable expenses can be paid in full or with a specified amount. It not only makes sure that all of the bills are paid and nothing slips through the cracks, resulting in late fees. It also guarantees that the bills are paid before any irresponsible spending takes place. One of the goals of online personal finance is to ensure that a person lives within their means. If all of the bills are paid before any money can be spent this becomes a much more reasonable goal. Certainly there sometimes need to be other changes to ones spending habits that need to be made, but its an important first step.
Another helpful feature of online personal finance is the built in tax software. Not everyone has very complex taxes. Obviously some people dont have a family and dont have a house or any investments. These peoples taxes are quite simple to deal with. However most people that are looking to do some budgeting have more complex situations. Real estate is a great investment for the tax breaks it gives. Having online personal finance software saves money by avoiding having to go to a tax professional and ensures there arent any mistakes or missed deductions. When people are using online personal finance software to remedy their bad habits, they often overlook tax considerations. Back taxes are often particularly difficult to deal with and online personal finance software can help in this regard. The larger ones family is or the greater the number of investments someone has, the more likely it is that they have tricky taxes and need online personal finance software.
Benefits of Business Checks
Businesses engage in various transactions on a daily basis. They deal with clients, suppliers, and employees. It is a must to have a convenient method of conducting business. And it includes not only sales but also the disbursements they make. One of the supplies they need to make payment easily is the business checks. They use it because it is easier to write an amount on it than to risk bringing cash for payment. Checks are addressed to specific person or company and cannot be exchanged for cash by anyone unauthorized. They can also be made to be for deposit only so that no one can cash it unless deposited to the proper account. However, banks do have quite a large fee for making these checks. One solution for this and in order to save costs, companies opts to get their business checks.
If you are planning to order personalized checks, make sure that the company who will be making it has good customer reviews. You can check in different forums to know if the company has good quality work or not. You do not order business checks right away, you should also check the security features of the check before ordering. The better the security features is, the more expensive it gets. Make sure you account for these factors before ordering checks.
Jobs In India
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Resplendent with various opportunities, India offices almost every fortune listed corporation. A home of six fortune 500 listed companies, India tempts every one who is looking for a good work opportunity.
Indian jobs are manly categorized in following sectors-
IT Sector
Hospitality
Management Sector
Business Processing Outsource (BPO)
Knowledge Processing Outsource (KPO)
Engineering/Mechanical
Media Jobs
Finance Jobs
Sales Jobs
Telecom Sector
IT Sector- A home to some of the leading IT companies of the world such as, Tata Consultancy Services, Genpact, Infosys, WIPRO, India is booming in IT field. It headquarters more than 25 IT companies out of top 100 in the world. Ranking in top three positions, India is a wonderful workplace for every IT professionals. Want to be an active part of IT growth in India, go though pages of www.freejobsinworld.com, the site offers plethora of openings related to IT jobs in India.
Business Processing Outsource- Hiring more than fifty percent of urban young workforce, BPO jobs are tempting almost every English speaking youth of India. Considered as a beneficial deal for college going youths, the business deals with customer satisfaction or sales processing; sometimes, it includes outsourcing of technologies too.
Knowledge Processing Outsourcing- KPO is one among the most booming Industry in Indian jobs market. This is directly linked with the outsourcing of knowledge based products such as technology, software, literary works and business plans. Engineering/Mechanical Jobs- The homeland of Indian Institute of Technology (IIT) , which ranks in top three technology institutes of the world, India is stuffed with technocrats. Therefore, the company offers multitude of opportunities in the field. It is also considered as the Garden of Eden for technically astute people. To get a job in any engineering firm in India, click on www.freejobsinworld.com. The website offers a detailed list of engineering jobs in India.
Media Jobs With the status of one among the four most important strengths to run a state, Media jobs are wonderfully flourishing in India. Catering readers and audiences on a global level, it offers job in almost every media including the digital. Digital media is said to be the futuristic media.
Car Finance Specialists
Out there in the so called real world there are quite a few places like finance companies and banks and car dealerships where you can apply for a auto loan. You know that comparing different rates of interest and finding the best auto loan means that you can save yourself a lot of money. There is just one particular problem that you could be facing if you end up doing this by going from one bank to the next: It ends up taking too much time to compare all the offers that are out there. The only solution really is to apply for a car loan online through an auto finance specialist.
Searching for a online auto loan through an auto finance specialist is much easier on yourself and will save you lots of time and money. Not only will you be able to compare the rates of interest from different financial institutions and banks but will also be able to save some cash through the use of free applications and free car loan calculators. For the most part, a car loan rate through an auto financing specialist are a lot lower when compared to the rates that you would receive from an off line car dealership, bank, of even finance companies. The annual interest rates tend to be lower and you end up having enough time to choose the best possible deal because once you end up being approved your loan would be locked in for at least sixty days.
Most car loans through car finance specialists are approved very quickly, some even within an hour during business days. The market itself is controlled by some very well known companies, so you can be certain that there are no actual hidden fees or poor credit scams and no pre-payment penalties like you will find at some of your local car dealerships. Once you car loan is approved you would then get a check from the loan company via mail. If you wished, you could apply for a car loan today and be able to drive your new car home as soon as tomorrow.
In that event that you have a poor credit score, there are a lot of online loan finance specialists out there that can help you finance the car of your dreams. There are most always ways to be approved for a vehicle loan and they will help you achieve this.
Most financial institutions will offer you a wide range of car financing deals, from new or used car loans to motorcycle financing, car refinancing, and even a lease buyout. These types of companies tend to provide auto loans that are one to two percentage points lower when compared to the national bank averages.
Another point of interest is that most of these companies will provide you with additional tools and recourses. Some of them tend to have finance tools available that you can use for free. Some will allow you to research for car prices, specifications, and will even provide you with product reviews.
So why take the time to apply for a car loan online through an auto finance specialist? Well, it’s simple, fast, and it can work for you!
Asset Capital Finance – What Else Do You Want
For a businessman or even for a person involved with other things the one way to increase one’s worth is through our business or by the asset we possess.
With that some people get a head start whereas others have to work for it. What it means is that some have financial backing and others need financial backing from the outside. That is where we can use asset capital finance for your business.
As the name suggests asset capital finance is the financial help that is provided to people to either buy or go in for the improvement of the asset.
Capital asset finance can be the most appropriate way by which you can fund your business as with this you can equip your business without the restriction of an outright purchase.
Asset capital finance can be taken from many creditors which are willing to provide the loans, however the following documents would be required for you to get the finance:
·Tax returns
·Through and detailed business plan
·Personal financial statements
·Plan of how loans would be used
·Management profile
The organization and timely presentation of these documents plays a critical role in whether and how much asset capital finance we get so we should pay close attention to these details.
Asset capital finance is easy to get and the finance can be applied for one of the following or other uses:
·Cars and Commercials
·Trucks and Plants
·Production equipment
·Business equipment
·Farming equipment
·Venture capital
·Factoring
The loans can be applied for the following uses and then got for as well.
Asset capital Financehave the following features which the borrowers must be aware of to ensure that they get the best deal according to their requirement.
·The borrowers can choose their own loan terms i.e. interest rates.
·The borrowers can choose the repayment schedule choose the method by which they intend to pay.
·The borrowers can also choose the overdraft facility as well.
·The loans can be approved quickly sometimes as quickly as 24 hours.
·The borrows can choose between either a secured asset capital finance or an unsecured asset capital finance depending upon their credit requirements or financial standings.
·Bad credit usually does not create many problems when it comes to asset capital finance the only difficulty could be that you may be charged a higher rate of interest.
With that many features it is pretty hard to overlook the asset capital finances. These loans help us in many ways and make it easy for anyone to achieve the intended target without much hassle.