Using Employee Rewards Schemes For Company Growth

According to most business experts, one of the crucial components of business success are the employees. They are considered as the backbone of the business as they are the ones working to ensure its growth and success. And so, it is only fair to show them how much they are valued and how their efforts are appreciated. It is important that your employees know they are an important part of the company and they are essential to the success of the business. Hence, using smart business strategies such as employee rewards schemes is very huge advantage.

Employee rewards schemes are not part of the employee’s salary but rather an add-on benefit that they can take advantage of. Companies, on the other hand, can also take advantage of employee rewards schemes as it can greatly benefit from the results. Many company owners have already testified the advantage of having such schemes for their employee.

If you are a business owner who wants to start using employee reward schemes, know that there are at least two forms of rewards you can give to your employees. One is called the tangible form and the other the intangible form. Both of these rewards forms are very useful in motivating your employees to work and give their best for the company. These can also help them grow loyalty to the company.
 Tangible rewards can be a company car, corporate credit card, discount cards, tickets to movies or shows, meal coupons, personalised medical and health plans and plane tickets. All these can be really helpful in giving the employees more motivation at work. Although not all companies have all these rewards, those who practice employee rewards schemes have benefited from the results.

Intangible rewards, on the other hand, are in the form of trainings, seminars, experiential opportunities and other things that add to the professional progress of the employees and their knowledge to become better workers. Companies invest in these types of intangible rewards as they know that these can also benefit them. The employees may be the direct recipient of the benefits of the training and seminars that they are enrolled in but ultimately, the company will also benefit from the knowledge that their employees got from these trainings and seminars.

The advantages or benefits that employee rewards schemes create easily outweigh the cost. As these can further motivate employees to work harder and uphold high level of workmanship. And so, the business can ensure client satisfaction through consistent high-quality output. Ultimately, using employee rewards schemes is both beneficial for the company and its employees.

Why You Need To Open A Business Bank Account

If you are just starting a business and you are still using your personal bank account for your business transactions, then you must consider opening a new business bank account to avoid future problems with your finances. Most experts actually advice new business owners to open a business bank account that will be used solely for business. It must be separated from personal funds and must only be used for business purposes.

Although there are some people who prefer to have only one account for both their personal and business transactions just so they can maintain a single account and not having to use two bank accounts under their name, it can lead to complications in the future especially once your business starts to grow. And so, opening a business bank account is really important. Other reasons why experts recommend this option are the following:

- Opening a business bank account will ensure your personal assets. It protects your personal assets and keeps them away from whatever may happen to your business. This means that whether or not your business will fail, you will still have your personal finances intact and ready to be used. Your personal assets won’t be taken as well in cases when your business has to file for bankruptcy. Mingling your personal assets with your business assets by maintaining just one bank account for them is really not a logical idea.

- Opening a business bank account will help you avoid problems and issues with the filing of taxes. It will be a lot harder for your accountant to organize your book when you put all the money from both your personal and business into just one account. And the time comes when you need to file your taxes, it will be very complicated, stressful and messy collecting and separating your corporates expenses from your personal expenses.

- Opening a business bank account will greatly help your business when it comes to establishing a solid financial foundation. When you have a business account, it will be easier for you to apply for a business loan and make transaction through your bank. It will also be a lot easier to convince clients to invest in your business seeing that you have a solid foundation for your business’ finances. Additionally, you will have a lot of options when it comes to seeking help from your bank in growing or expanding your business.

Choosing From Among The Mobile Phone Offers in Saudi Arabia

When it comes to choosing the best mobile phone offers in Saudi Arabia, many people really have a hard time choosing which one is the best for them. Since there are actually a lot of choices available, it can be really hard to just choose one that will best suit your needs. So to help you make the right choice in your search for the best mobile phone offers in Saudi Arabia, here are few factors to consider:

- Contract. Most mobile phone offers these days are actually tied to a specific contract. You might be enticed at the inclusions offered together with your mobile phone but you have to check if it has a contract that it is tied to. This will greatly affect your decisions of changing plans in the future. Check the contract before settling for the mobile phone offer you want. There are also contracts that are long-term and short-term. If you want to be tied up to the contract only for a specific time period, choose the short-term one but if you want to ensure you pay the same amount for years, choose the offers with long-term contracts.

- Price. This is also one of the most important factors that you should consider. When considering the price of the mobile phone, take into consideration as well the amount of texts, calls and data allocated. Since people have different needs when it comes to using mobile phones, it is best to ask about the inclusions when considering the price of the mobile phone you want to get.

- Data. Today, many people are so into using their smartphones to go online, check something, shop, update their social media status and even watch videos. And so, it is very important that you know the data allowance included in the package. You might need more data allowance than what is stated in the contract, so make sure that you know your limits. You can also ask if you can add more data allowance to your chosen mobile phone offer and just pay for the difference.

- Network. Choosing the network is also very important because it will determine the overall functionality of your phone. Needless to say, you should choose a network with good coverage in your area. Check the signal strength and make sure that your network carrier is able to deliver the services that you paid for.

Why Finance Accounts Receivable Is Recommended For Businesses

Most business expert these days understand that partnering with a trusted bank is a must for business growth. And so, businesses take advantage of bank solutions that are formulated to help them advance and reach their goals. Finance accounts receivable is just one of them. To help you understand how this can be a help to your business, you need to know what are accounts receivable first.

Receivables are the money that a company is owed by its clients. For example, your company has provided products and/or services to your clients and you have already issued an invoice and are now waiting for the payment. The amount stated on the invoice is the amount of you receivable. This is usually how it goes in the business world. You provide products and services and issue an invoice with a later date. All those receivables are usually recorded as an asset in your company. Although the money is not yet on hand, it is already considered a sale or profit because it is what your client owes your company and it is what your client needs to pay come the date stated on the invoice.

So, why is finance accounts receivable recommended for businesses? Most of the time, clients and customers prefer to pay all at once for the services and products that they got from your business. This will strengthen your relationship with your clients and customers. This is also considered as a form of credit which will encourage trust and confidence for both parties. This will also lessen the hassle of paying every time a transaction is done.

When you provide products and services to clients or customers especially if they are already recurring ones and considered as among your loyal customers, issuing an invoice with a later date is more preferable than collecting the money right then and there. You can then use these accounts receivable when applying for any type of financing from your trusted bank. This is called finance accounts receivable.

Accounts receivable financing is when a business or company uses its accounts receivables as collateral in order to secure a cash advance. Businesses that wish to apply for any type of loan or cash advance can use the accounts receivable.  All you need to show the bank are the invoices that you sent your clients which will serve as collateral. With this, your bank can easily assess and grant your application.

All About Export Credit Financing

Most growing domestic businesses look into export credit financing as one of the global receivables solutions. To avoid the risks involved in exporting especially in areas where business transactions are more complex, the provision that financially covers international export operations and other activities such as loans and insurance is very much needed.

Local businesses can greatly benefit from export credit financing. They can expand their reach strategically and grow their market. They can even reach to bigger opportunities with this financial provision. Banks and other financial agencies offer this solution to many businesses, both great and small. As a business owner, you just have to know where you can get this provision and the other financial solutions offered by your bank so you can take advantage of it for the growth and expansion of your business.

In order to keep the business rolling, especially in areas that are formerly war-torn and impoverished, this export credit financing is really a very big help. It allows the smart management of finances formed for your business growth to ensure the completion of projects and exports even with the presence of certain risks.

Additionally, export credit financing now has a much lower propensity for private lending. Through its export credit guarantees, the provision is riskier as it can pull off the global transaction. It is also worth mentioning that with this provision, there are fewer unfinished and likely to be forgotten projects out there. The difficulty of finding reliable and committed private sector lenders can be taken care of easily which is really a huge advantage for many businesses struggling to meet the dues on time.

As a business owner, it is really essential that you know how to find ways to meet the needs of your business especially when it comes to funding and payments. There are a lot of banks and other financial institutions that offer several different options for businesses that are struggling financially. And depending on the specific need of the business, one can choose which of them is best. Not all solutions may work for certain businesses and that is why it is very important that you seek help from a financial expert to know which one is really the most appropriate solution for your business. Opting for export credit financing is indeed smart choice but it may not work for all businesses all the time, so it is still nest to know other options offered by your trusted bank.

The Top Reasons Why Companies Should Open A Business Bank Account

Most people today have their own personal bank accounts. Some even go up and beyond and have two separate bank accounts: one that they use for payroll or for receiving their salaries and another one that they use for saving their money.

Because of this, business owners should also have no reasons or qualms about opening a business bank account. Although you may say that opening a business bank account is more tedious and time-consuming than opening a personal one (there are usually more documents required), in the end, the advantages will outweigh all these difficulties.

Benefits Of Having A Business Bank Account

Below are some of the noteworthy advantages of opening a bank account solely for your business:

• Having a business bank account offers you and your personal assets a protection from legal liability. In the event that your company gets sued and you unwittingly keep your personal and company finances together in one account, the court may go after your personal assets because your bank account does not reflect the two distinct entities.

• You or your accountant will find it easier to file business income and expenses for tax purposes. Because all the money that comes in and out of the bank are solely for your company’s purpose, filing the business income and expenses for tax purposes will be easier.

• A corporate or business bank account can also bolster the credibility and professionalism of your company. Typically, when clients see that you use personal checks for transactions, they may think that you are not running a legitimate business operation.

A Guide To Opening A Business Bank Account

Company owners should know that opening business bank account doesn’t have to be as time-consuming and difficult as others make it out to be. To begin with, if you already have a personal bank account, find out first what incentives and useful features or services your bank will offer if you open a business account with them. However, if your current bank doesn’t seem to be the right fit for your business, you have to look at other ones. Keep in mind that banks have different specialties, with some catering mostly to small businesses while others are known more for providing equipment loans.

Opening a checking account may be your first option but you might also want to consider looking into other financial products like lines of credit and cash management. Take the time to find a bank that has extensive experience in working with companies in the same industry as yours so that you can also take advantage of their offerings.

Lastly, look into the banking costs. There are banks that allow companies to open checking accounts for free and require a fairly minimal amount of balance. Your business's needs may change overtime and whenever this happens, you will need to evaluate your account based not only on the fees, but more importantly, the convenience the account offers.

Source:

http://www.business.hsbc.com.eg/en-gb/growth/productfamily/open-account  offers more details about opening a business bank account.