How Your Business Can Save More Money

save money

 

The ability of a business to save money over the long run is vital for its success. Many companies are always interested in investing money back in to the business. Although this is not necessarily a bad thing, having some money in savings can go a long way in helping a business survive the tough times. In the regular course of business, it can be difficult to think about saving money for a rainy day. Here are several tips for any business to use in order to save more money for emergencies and why this is so important.

 

Reduce Expenses

One of the most common reasons that companies have trouble saving money is that their expenses are so high. No matter how much a company brings in with sales, if all of the money is spent on expenses the savings amount will never grow.

 

reduce expenses

 

There are many different ways that a company can reduce its expenses in both the short term and the long term. A company that has a physical location will often have a large rent or lease payment. Many people do not know that the terms of this agreement can often be negotiated in order to save money. Saving just ten or twenty percent in this area can go a long way in freeing up cash flow to save.

 

Why A Savings Account is Important

whyThere are many different reasons that a savings account is important. If there is an emergency, a business needs to be able to respond quickly in order to solve the problem. Without any cash on hand, a business is going to have difficulty in solving the issue without having to borrow money. Borrowing money may allow for fixing the situation, but over the long term it will end up costing more money. Many small business owners feel like everything the business earns should be reinvested back in to the business. However, set aside a certain percentage of sales every month in order to quickly build up a savings account. Over the long term, the business will be much more stable and can endure the tough times without any issues.

 

Acquiring Competitors

acquiringAnother reason to have a large amount of cash in the bank is to acquire competitors. When the business environment turns bad, there are many companies that will go out of business. This is a great time for companies that have a lot of cash on hand to go out and acquire competitors. Although they may not buy the whole company outright, they can purchase all of their inventory for a small fraction of what it is worth. Cash in the bank allows a business to be prepared to make acquisitions when they matter. Over the long term, this can play a huge role in the success of a business. Any company that wants to remain in business for a long time should consider increasing the amount of money they save each year.

Here is How Business Loans Can Change Your Life

to successOverview

There are many people that want to achieve more success in their life financially. However, for many people it is difficult to get out of the situation that they are currently in. One of the most important ways that you can achieve more financial freedom in your life is to work with a bank that has your best interests in mind. There are many people that have been able to fund their lifestyle with the investments that they have generated. Here are several ways in which business loans can be used to change your financial future.

 

Investing

investOne of the best ways to change your financial future is to invest. There are many business banking options in Malaysia that people can use in order to get ahead. With the growing economy, now is the time to invest in order to build wealth in the future. Many people simply do not have the cash on hand to purchase an investment. This is where a strong business bank can be so valuable. There are plenty of investment options that still make sense for those that have to borrow the money to purchase the investment. However, it is important that you do your research on the front end so that you do not end up with a bad purchase.

 

Approval Process

approve processGetting a business loan in Malaysia is not something that happens overnight. A person will have to prove that they are using the business loan for something productive. Unlike personal loans, business loans cannot be used for whatever the person wants. In order to get approved for a business loan, the borrower must show the bank what they intend to do with the money. In order to maximize the odds of getting approved, it is important to have all of the required documentation ready before going to get approved.

 

Managing Debt

Managing the debt payments on the loan is one of the most important aspects of succeeding with a business loan in Malaysia. It can be tempting to simply borrow as much money as possible in order to reach your goals. However, these loans must be paid back over time. Always consider what the monthly debt payments are going to do to the cash flow that is coming in. One rule of thumb that many people have is to make sure that they are still cash flow positive after paying the debt and any other expenses associated with the investment.

 

gooddebt baddebt

 

Conclusion

Business banking in Malaysia is something that offers many people the opportunity to succeed in life. However, it is important to have a plan before you start investing the money. Business loans must be paid back like other loans, and managing the monthly cash flow coming in is one of the most important aspects of success in this area. Always be sure that you have a plan and stick to it throughout the process as you are trying to build wealth for the future through business loans.

Adakah Anda Perlu Surat Sokongan Kewangan?

Pernahkah anda hadapi sebarang masalah semasa membuat permohonan, terutamanya permohonan pinjaman kewangan?

Salah satu kemungkinan adalah kekurangan surat sokongan kewangan yang kukuh lagi.

Anda mungkin akan bertanya: apakah surat sokongan, dan bagaimanakah saya boleh sediakan surat sokongan yang kukuh ini?

Sebenarnya, surat sokongan kewangan adalah dokumen penting yang dapat membuktikan bahawa syarikat anda mempunyai kestabilan dan keupayaan kewangan yang tinggi. Biasanya dokumen ini perlu mendapat pengesyoran daripada pegawai yang berjawatan rasmi atau sesebuah organisasi berpengaruh, misalnya penghulu kampung, wakil rakyat peringkat negeri dan parlimen.

Surat sokongan lazimnya digunapakai di universiti dan kolej atau syarikat bagi memohon pinjaman daripada badan berkanun kerajaan seperti MIDF & KWSP untuk tujuan pembelajaran atau perniagaan.

Dokumen yang dihantar bersama surat sokongan ini biasanya terdiri daripada dokumen kewangan dari bank berlampirkan pengisytiharan harta benda yang disahkan oleh Pesuruhjaya Sumpah Kerajaan yang bertauliah.

Jadi, bilakah kita memerlukan surat sokongan kewangan? Sebenarnya, surat sokongan kewangan memainkan peranan penting untuk menaikkan peluang kita untuk memenangi sebut harga, bidaan / tender, negosiasi terus, kontraktor nominasi, usahasama antara kerajaan dan syarikat kerajaan, usahasama antara syarikat swasta pembekal dan pelanggan perseorangan serta syarikat swasta Main Board.

Di samping itu, surat sokongan kewangan juga dapat membantu mereka yang ingin memohon untuk menjadi Vendor Kerajaan, Sub-Kontraktor, Panel atau Rakan Niaga. Juga, dokumen ini penting apabila pengusaha SME ingin mendapat kredit daripada Pembekal / Pengeluar serta memohon lessen kerajaan seperti E-Perolehan, CIDB, PKK, dan sebagainya.

 

Contoh Surat Sokongan Kewangan

Salah satu contoh surat sokongan kewangan yang ditulis untuk tujuan permohonan tender adalah seperti yang berikut:

 

No. Rujukan   :

Tarikh              :

Kepada            : (Nama & Alamat Pemberi Tender)

 

Nama Pembida: (Nama Syarikat Pemohon)

 

Projek: (Nama Projek yang dimohon)

1) Berikut adalah kemudahan kredit yang dipertimbangkan dan kredit tambahan minimum yang layak didapat oleh (Nama Syarikat Pemohon).

 

Bentuk Kemudahan Kredit

 

Tambahan minimum yang akan diluluskan

Jumlah

 

2) Kenyataan tentang kedudukan kewangan akaun Petender:

(Syarikat Pemberi Surat Sokongan) akan membiayai (Nama Syarikat Pemohon) setinggi (Amaun Biayaan) seandainya kontrak ini diberi kepada (Nama Syarikat Pemohon)

Dengan ini, surat sokongan ini menjadi pernyataan di mana (Syarikat Pemberi Surat Sokongan) bersedia untuk memberi kemudahan kredit. Namun begitu, perlulah ditegaskan bahawa kami tidak akan bertanggungjawab ke atas sebarang kesalahan atau kerugian yang berlaku setelah surat ini digunakan

 

Tandatangan                                                                             Tarikh:

Nama Pegawai (dari Syarikat Pemberi Kemudahan Kredit)

Jawatan

Nama Syarikat (Syarikat Pemberi Kemudahan Kredit)

Sekian, terima kasih.

 

Secara keseluruhannya, surat sokongan kewangan sangat penting untuk membantu anda mendapat kelulusan permohonan. Jika anda memerlukan sebarang bantuan dalam penyediaan surat sokongan, SME Sentral juga dapat membekalkan servis yang berkenaan. Untuk sebarang maklumat terperinci, layarilah laman web: http://www.smesentral.com/

Lead Generation, Entreprenuralism and Your Business: 3 Ways to Get the Leads You Need

Finding the best partner for your lead generation is the best way to ensure that you always have new prospects for your products. Here are some of the techniques that your partners should employ to get you the best leads for your business.

product video

– Do you have a product video?

Like it or not, we definitely live in a visual world. According to prominent case studies, your company has a chance to generate leads at a 33% faster rate. Videos can also be used multiple times if they are produced for the online and mobile platforms.

– Keep the idea of spam out of your customer’s wheelhouse!

Too many companies seem far too apologetic for their marketing efforts even before their potential customers have responded. If you or your partner in marketing is sending an initial lead generation email, leave the apologies for spam out of the discussion! Although emails that have even a single sentence that a customer considers spam are 18% less likely to convert, the beginning of any relationship with a customer is confidence. If you do not think that you are spamming your customers, then they are less likely to think so! Speak confidently in your email and do not be afraid to include a call to action.

Choices

– Give your customer fewer choices, not more!

Believe it or not, your customers actually want fewer choices from you, not more choices. Consumers appreciate a streamlined process that leads them to a solution without having to think too much. You may believe as though you are creating a wider net for more leads if you extend the amount of choices on your lead generation form, but you are actually reducing your conversion rate the farther that you extend.

Leads will create the grease upon which the rest of your business can fuel itself. With the right leads, you will be able to increase the ROI for all of your other marketing activities. Make sure that you keep up with the latest ways for generating leads so that you can create better pathways for your business!

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References –

1 – https://www.oracle.com/marketingcloud/resources/lead-generation.html
2 – http://www.entrepreneur.com/topic/lead-generation
3 – http://unbounce.com/lead-generation/32-lead-generation-tactics/

 

Next inspiring story: Datuk Vinod Sekhar , President of Green Rubber Global and Petra Group