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Helpful Tips for Planning Corporate Events

You’ve likely attended numerous corporate events throughout your professional journey, and walked away from many of them knowing you’ve discovered a brilliant new product, learned something new, or even found a reliable business partner. These are the most common objectives of corporate events, but they never happen accidentally. In order to be successful, a corporate event needs to be planned in great detail and with plenty of creativity. To that end, here are some helpful tips for planning your own corporate events:

Choose an event type

Before you start planning your corporate event, consider what its main objective will be. For example, you might want to launch new products and services, communicate your business strategy, celebrate a milestone, or simply increase brand awareness. Depending on that goal, you can choose the type of event that’s the most suitable for your main objectives. This could mean hosting micro and small events for up to 250 attendees, midsize events that host up to 1,000 delegates, or large-scale events for audiences that exceed 1,000. Defining the event type is crucial for setting a budget, selecting a venue, and planning the guest list later on.

 Thanks to Beth Hawkes, Owner of Nursecode 

Create a suitable budget

Every event needs to have a good budget, as it helps to ensure smooth planning from beginning to end. If you’ve already hosted similar corporate events in the past, you can use their budgets as a good guideline for planning this one. If not, there are many factors you will have to consider when constructing the right budget. Budgeting an LED screen hire to display videos and images for the event is obviously one cost you need to consider. The venue, catering, entertainment, speakers, and transport will likely take up the majority of your budget, but you should also plan for smaller aspects such as technology and equipment fees, decor expenses, gift bags, etc. Summarize these expenses to project the budget more accurately, and make sure to leave room for flexibility in case unexpected costs occur. Don’t forget to hire some great Corporate Event Photographers you can find through reputable companies, as you will want to use photos for marketing materials afterwards! 

 Thanks to Megan Hoffman, Owner of ARK ETF stock holdings

Hire a Professional Speaker

Hiring a top inspirational speakers for your corporate event can be a great way to add a bit of enthusiasm and energy to the event. A speaker can bring their unique perspective and expertise to the event, helping to engage the audience, entertain them, and provide valuable insight. When it comes to hiring a speaker, you should research a few different options and make sure to find someone who can best represent your company’s mission and values. Take the time to read up on prospective speakers and make sure their message is in alignment with yours. Also be sure to look for a speaker who is well-versed in the topics you’re interested in covering. Make sure to book the speaker in advance to ensure they are available and to give them the time they need to prepare.

Select a good venue

The venue isn’t just the place where you hold your event and house your guests. The right venue can also leave a better impression on your attendees, which is why selecting a good one is crucial. Australian event planners, for instance, are well aware of this fact, so they often select a classic Italian restaurant in Western Sydney for their corporate events. Not only does this venue offer freshly made authentic Italian food served in a communal banquet style, but it also provides beautiful surroundings that are ideal for a corporate event. You can choose a similar restaurant for your event as well, thus killing two birds – the venue and the food – with one stone.

When choosing a venue, it’s essential to factor in the availability of Wi-Fi. In cases where the venue lacks Wi-Fi, you can explore the option of hotspot rental.

 Thanks to Be John Webster, Owner, Mumeemagic

Plan the event theme

In many European countries, on the other hand, themed corporate events are among the top event planning trends at the moment. This might be a good feature to implement into your event as well. A well-planned theme that supports your main event goals and purpose is a great way to convey your objective to your audience while enabling you to gain a better knowledge of your guests and their expectations. Try to make your corporate event stand out by implementing a well-thought-out theme and unique decor. Remember that colors can play an important role in conveying the right message and emotions, while interesting features like custom photo booths can encourage sharing on social media and promote brand awareness.

Thanks to Daniel Di Cerbo, Owner, Willowdale Equity

Lanyards are a great way to promote your brand at corporate events. Lanyards can also get along the theme of the event if you have made it necessary for every attendee to come with your provided lanyards around their necks. Lanyards with your company’s logo and contact information on them will be handful in making the impact over the event. This is a great way to get your name out there and make sure that people remember your company long after the event is over. Make sure to order lanyards that are high quality so that they will last for a long time. Ordering lanyards from 4inlanyards will ensure that you’re getting a product that is worth the investment.

Take care of logistics

Along with venue selection and catering, event logistics also include accommodation, transportation, warehousing, and distribution. All of these aspects are necessary to ensure smooth planning, but they could also be quite complicated and difficult to manage. That is why it’s often best to leave them to professional event organizers to handle. If you don’t have a large enough budget to hire experts, however, you will have to take care of the logistics yourself. This means arranging and communicating with all vendors, making sure you have all the materials necessary for a successful launch, and supervising all the people involved, in order to plan your corporate event effectively.

Market your event

Once the event has been planned, the final step would be to gather an audience. If it’s an invite-only event, this will mean creating a guest list and sending invites to individuals, most commonly via email. In case it’s an open event, you will need to develop a captivating event marketing strategy. Whether you do it yourself or with the help of professionals, marketing will be crucial for engaging your attendees, generating new leads, increasing conversions, improving retention, and boosting satisfaction. Focus on your website, social media platforms, and other forms of digital marketing for higher success.

Planning a corporate event can be a challenging and time-consuming process, especially when you’re expected to complete it yourself. The helpful tips mentioned above will hopefully allow you to streamline this process, and launch your event successfully.

Sending a thank you gift card after the event is a great way to express your appreciation. It shows gratitude and leaves a positive impression. You can do this by simply using your attendees email address to send a same-day email-delivered Mastercard Gift Cards or Visa Gift Cards from Corporate Prepaid Cards.

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Tent Designing for Lively Outdoor Events

With summers coming in full swing, outdoor events have become popular once again. However, outdoor activities and events need some proper arrangements to be successful. The most important factor out of all these arrangements is the tent selection. Apart from providing shade and shelter, tents can elevate your event.

Tents are usually built from scratch for most events these days. For this, commercial tent manufacturers are required. These companies can help design the perfect tent for your event. They design according to your preferences, themes, and occasions. In this article, we will be telling you all about the main factors that go into tent design. 

Color and Theme

The first step involves choosing the suitable color theme and the corresponding tent design. It usually depends on the theme of the event and the type of celebration. You can customize the tent’s colors to match your occasion.

You can choose colors and designs for commercial and corporate events based on the brand theme, logo, sponsors, and collaborations. This helps attract a larger audience.

Size And Capacity

The next step is choosing the right size and shape of the tent to suitably accommodate your guests. This includes seating, decoration arrangements, and adequate floor space to fit everyone comfortably. Usually, a bigger size is recommended for events like weddings, fairs, and conventions. 

The sizes can be customized according to the expected audience for commercial events. There are also various shapes to further add character to your event. Some examples include domed, cubic, hexagonal, or rectangular tents. Generally, shapes depend on the number of guests or audience and the overall budget. For example, rectangular tents are most economical for significant business events. 

Proper Space Allocation

In the design stage, this step goes side by side with selecting the right size and shape of the tent for your event. When strategizing the perfect event, it is crucial to allocate dedicated spaces for every activity and utility. This step helps in approximating the required space and size for the tent. 

Indirect utilities like kitchens and bathrooms are usually placed far from the event area for a more appealing view. Most businesses also organize their events outdoors to attract an audience and market themselves. Allocating proper spaces to place advertisements and marketing stalls is vital for your event’s success. 

Flooring And Entrance

These two factors are essential for setting your occasion’s ambiance and play an essential role in creating an excellent first impression for the guests. The type of flooring you select to go with the tent, such as carpet or grass, will set the look of your event. The type of tent entrance you choose also plays a good role in attracting people to the event. 

Where To Find A Good Tent Manufacturer?

There are many tent rentals that offer good quality tents, however only a few offer complete customization and designing.  Economy Tent Manufacturers is a famous tent designing company who provides its customers with a myriad of options such as trio, marquee, classic, concession, sidewalls, and clear tents. They specialize in engineered tents and also provide their customers with quality craftsmanship. They also offer custom designs and prints for themed events. 

Endnote

After completing this design procedure, your tent manufacturers will suggest the most suitable design for your event. Make sure to correctly select all the above factors, based on the number of guests and the type of occasion. Good Luck!

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Understanding How Facebook is Entering the Gaming Industry

In the past 10 years, the gaming industry has significantly grown and become one of the leading industries in the technology and entertainment sectors. With roughly 2 billion gamers around the world, the gaming industry is currently valued at over $300 billion.

The gaming market is also expanding, developing beyond the simple concept of consoles or PCs, and now also incorporating the smartphone industry, eSports, streaming, and live events, among others. As a result, many companies have decided to take part in this booming industry by focusing on specific segments that are no longer restricted to developing games or hardware. In this sense, we will look at how Facebook has been infiltrating the gaming industry in recent years.

Facebook Gaming 

While Facebook’s decision to enter the gaming market might seem surprising, the company actually has a long history of interaction with gaming, including their early successful incorporation of Flash-based games, including Farmville, Pet Society, and Mafia Wars. However, with the rise of smartphones and mobile gaming, most games migrated from desktop versions to mobile and app versions. This crucial change, in the way users access and play games, had repercussions across the entire industry.

Console and PC gaming have reposited themselves within the market, offering more immersive and high-quality experiences, while online gambling has grown exponentially. For instance, casino platforms such as CasinoSmash have greatly benefited not only from the widespread use of smartphones but also from recent technological advancements that have enabled enhanced gameplay options. A prime example of this is the live casino functionality online, which offers bettors an immersive, real-time gambling experience. 

Following these changes, and considering Facebook’s interest in creating a multi-dimensional platform, the social media giant had to come up with a new strategy. As a result, Facebook Gaming was officially released in 2018 and is available to all Facebook users as an inside-app feature. This service offers several options for both content creators and users. It is possible to upload, watch and stream all types of gaming-related content, including gameplays, eSports events, and other types of live content, but also play exclusive games. Much like Twitch, streamers can interact with their audience, receive donations, and monetize their content. 

Instead of investing in AAA titles, like most of their competitors, including Google, Microsoft, Nvidia, or Amazon, Facebook’s strategy is to focus on free-to-play games. In order to achieve this, over the past years, Facebook has heavily invested in cloud gaming by acquiring gaming companies operating in the sector, such as PlayGiga. In addition, the company is also experimenting with virtual reality, which could be crucial not only for their gaming segment but also for the development of the Metaverse.black keyboard

Challenges and Competitors

While Facebook’s investment in the gaming industry has been significant, Facebook Gaming has faced an array of challenges. First and foremost, in the four years since Facebook Gaming launched, its market implementation has not been easy. While the platform did manage to bring in high-profile personalities, such as StoneMountain64, Neymar Jr, and Anitta, recent numbers indicate that Facebook Gaming is still far behind the likes of YouTube Gaming Live and Twitch when it comes to total hours watched. For instance, if we take the first quarter of 2022 as an example, Facebook Gaming only represents 10% of the total hours watched, with roughly 803 million hours, while YouTube Gaming aggregates 1.13 billion hours (14%) and Twitch dominates almost entirely with 6.13 billion hours (76%). 

However, that’s not all: Facebook Gaming has also faced allegations of featuring hundreds of fake live streams, pirated content, and spam. Reports indicate that some streamers are labeling videos as gameplays but are actually using the platform to stream pirated content such as movies and series. In addition, it is reported that a large majority of pages are posting pre-recorded content and marketing it as live-streamed.

For now, Facebook’s incursion into gaming is still in its early stages and while the company might be facing some challenges, the social media giant has already announced plans to invest more than $1 billion in creators across its apps in the years to come. Ultimately, we will have to sit and wait for the next chapter in Facebook Gaming’s history. 

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What Does The Crypto Crash Mean For Economies Around The World?

The crypto market continues to crash. Since November 2021, when the crypto market was at its peak and its overall value was estimated at $3.1 trillion, it has lost almost $2 trillion. On Monday, the crypto market started to decline significantly, and at the moment of writing this the overall value of the marketplace is defined as $1.2 trillion.

Because of its crash, some experts say that this may affect the global financial system and economy, as well. The main idea behind this is that nowadays several companies around the globe started to adopt and embrace cryptocurrencies. These companies may see some losses shortly because of the crypto crash. However, according to some experts, there is nothing to worry about considering the nature of the crypto market, which is quite volatile and fluctuates in a very short period. This process according to the analysts is temporary and it may lead to another crypto value skyrocketing.

When it comes to the link between crypto and a country’s economy there should be stated that countries can benefit from adopting cryptocurrencies. Those who are open to crypto networks have seen economic gains in the form of investment, new employment, and lower taxes in the past. The use of crypto as a digital asset provides businesses with access to new demographics and treasury management efficiency.

Crypto Crash Effect On The Country’s Economy

The cryptocurrency market, even though it’s a decentralized market, does have an impact on the countries’ economy. Let’s discuss some regions including the US and the UK.

Stablecoins, digital currencies whose value is tied to the value of conventional assets, have been recognized as a possible danger to financial stability by the US Federal Reserve, Treasury Department, and the International Financial Stability Board. Trades in other digital assets are the primary function of stablecoins.

It should be stated that even though the crypto market crashes, a growing number of investors include these digital currencies in their diverse portfolios. This is because many individuals use a strategy of swing trading with the help of Bitcode Prime and other AI-generated tools. This software allows traders to take advantage of the market volatility and price changes in the marketplace.

The investments of stablecoins are backed by assets that might lose value or become illiquid in times of market stress, while the regulations and disclosures around those assets and investors’ redemption rights are unclear. Regulators have warned that this might leave stablecoins vulnerable to a decline in investor trust, especially during times of market stress. A prominent stablecoin lost its 1:1 dollar peg on Monday and plunged as low as $0.67 on CoinGecko, reports CoinDesk. The price of bitcoin dropped as a result of this action. Despite the mechanism that keeps TerraUSD tied to the dollar, officials fear that investors running on stablecoins that hold reserves of assets like cash or commercial paper may cause stress in the existing financial system.

Regulators warn new dangers are arising as the value of crypto assets is increasingly related to corporate fortunes and conventional financial institution’s involvement in the asset class. Crypto derivatives and unhedged exposures might put financial institutions at risk, according to the Acting Comptroller of the Currency in March. This is because banks have very little historical pricing data when it comes to these products. There is still disagreement among authorities on how much of a financial system and societal impact a crypto-crash may have.

The British government hasn’t taken a position yet regarding the crypto crash. In light of Sam Bankman-Fried’s statements that bitcoin doesn’t have a future as a payment network and that most tokens out there have no visible value, it’s unclear just how much regulation of crypto is necessary if blockchain is to be used most effectively in the financial system. In terms of economic effect, because of the UK’s position about cryptocurrencies, it’s most likely that the crypto crash won’t have a big impact on the country’s economy.

Even though some businesses in the UK adopt crypto as a payment method, on a big scale, it won’t hurt the state’s economic condition. More likely, those investors that were involved so far in the crypto trading, will close their positions in the digital market and will invest them in stock, forex, or several other marketplaces, where fiat money is needed.

How The Cryptos Affect The Global Market

Consumers in the United States and the European Union may think of cryptocurrencies as a novelty, yet there are numerous nations where the national currencies are mishandled. Venezuela’s autocratic administration, for example, has become notorious for its rising inflation, which has resulted in poverty for millions of inhabitants without access to foreign currency. When it comes to frictionless transactions and inflation control, cryptocurrencies offer many advantages.

The cryptocurrency market makes it possible to hedge against risk, like precious commodities such as gold. For this precise reason, several bitcoin ETFs and ETNs have been created.

There are also those analysts who believe that a cryptocurrency fall might have a negative influence on the larger market, as to how mortgage-backed securities led to the global financial crisis. As of right now, the entire market value of all cryptocurrencies (between $1 and $2 trillion) is smaller than certain huge publicly traded firms, such as Meta (previously Facebook) or Amazon.com. The new and dynamic asset class of cryptocurrencies, however, has the potential to swing in any way. Even if many investors see cryptocurrencies as a way to speculate or as a way to protect themselves against inflation, the market’s scale will not pose a systemic concern until 2021.

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Top 5 Middle East Startups to Watch Out for in 2022

While many investors are focused on more developed markets and startup ecosystems, the Middle Eastern entrepreneurial ecosystem continues to grow. Numerous high-profile acquisitions have been announced this year. In addition, big corporations and major private enterprises are taking chances and engaging in startups as the region’s investors mature. Recently, a unique business aspect has garnered much interest: the B2B industry. This would be challenging to achieve a sophisticated and ever-evolving industry without cooperation.

It’s been fascinating to watch the MENAP nations build trust and expand around the region throughout that period. So, we have listed the top 10 Middle East startups to watch in 2022 to understand the above statements.

How The Middle East Became The Utopia of Investors?

The apparently unending bad news about the Arab world is sufficient for the ordinary observer to reconsider engaging in the territory. However, a savvy investor understands that now may be the perfect moment to invest. 

The demand for emerging facilities across healthcare, education, and technology necessitates major investment, and exposure to a growing young generation with disposable wealth presents prospects.

Education and health care remain attractive investment prospects, with programs like the UAE Vision 2021 National Agenda prioritizing the development of a world-class schooling system to diversify the economy.

Technology is indeed quickly gaining traction as a crucial investment sector in the area. This initiative has received support from the authorities of Dubai and Abu Dhabi. Both have established Fintech startup accelerator programs, and Dubai’s government has said publicly that all official transactions would be blockchain-powered by 2020.

The Top 5 Middle East Startups in 2022 

1. Abwaab

Abwaab

Introduction

Abwaab is an Educational Tech organization for the secondary school level in the MENA region. Abwaab was formed just before the epidemic and has grown tremendously in the last 18 months.

Company Review

The corporation says that its number of active users has increased by ten times in the 2020/21 academic year alone, albeit we don’t know how low the baseline was the year before. The company positions itself as a supplement to publicly funded education, providing “bite-sized” micro-lessons corresponding to the national curriculum.

The value pitch is also compelling: Abwaab offers exams for test prep, chat and video coaching, and these bite-sized courses for $15 (the cost of an hour of tutoring in the nations they cover).

Financial Profile

Their strategy has undoubtedly worked thus far, with the firm receiving a $5 million seed round in March 2021 and a $20 million Series A investment in November 2021. Their entire budget is $27.5 million till 2022.

2. HyperSpace

HyperSpace

Introduction

Hyperspace is an immersive attraction company, headquartered in Dubai, that produces, builds, runs, and finances permanent ticketed attractions. In addition, they’re creating the world’s first native Extended Reality (XR) and Blockchain-enabled physical attractions.

Company Review

HyperSpace is creating a tangible interface towards the metaverse, with purpose-built abstract surroundings that connect to virtual surroundings and lifestyles in real-time. In the second half of 2022, they expect to establish two amusement centers in Dubai. The created technologies will be brought to life in these ticketed centers, which will fuse the virtual and real worlds to develop a tangible social media environment that is interactive, adventurous, and immersive. 

Financial Profile

In November 2021, HyperSpace secured $11 million in equity and development seed investment to produce immersive entertainment attractions for the social media and metaverse generation. 

The money will go toward developing unique technologies that will allow for transparent blockchain integration, real-time asset generation, and a live augmented reality (AR) overlay over actual space in an amusement park. 

3. Telda 

Telda

Introduction

Despite boasting a large young population, two out of every three Egyptians are now unbanked, and just 40% of the population in MENA has bank access. Telda will arrive in April 2021 to address the issue.

Company Review

Telda said that it is the first company to get a license from the Central Bank of Egypt (CBE) to digitally issue cards and onboard clients under the CBE’s new regulations. And as a result, the firm has achieved significant success in a relatively short period of time. 

Acquiring a partner institution to supply these services was a distinct difficulty the firm had to deal with. Telda had to persuade the bank that their services were complementary and wouldn’t completely overlap in order to do so. 

Financial Profile

Telda has won a $5 million pre-seed round to help Egyptians automate how they save, send, and spend money. Furthermore, Sequoia Capital, a top-tier VC with huge means, provided their seed capital. The VC led the early investment in Latin American digital bank Nubank eight years ago before it expanded substantially (currently valued north of $25 billion!)

4. Getbee 

Getbee

Introduction

Getbee is a shopping service established by CEO Thea Myhrvold that delivers a human sales associate to the shopper’s computer or mobile device.

Company Review

Getbee enables sales reps to interact with customers online, in the same manner they would in a shop, offering product suggestions and completing purchases through video. In terms of sales exchange rate, average order size, and retention of customers, this innovative online shopping approach produces unparalleled results. 

Technology partners like Shopify and BigCommerce are also incorporated into the platform. Dolce & Gabbana, Lancôme, and Dermalogica are among Getbee’s clientele. 

Financial Profile

Getbee, located in the United Arab Emirates, has secured $1.8 million in a pre-Series A round led by B & Y Venture Partners, Altitude Capital, and +VC, as well as strategic angels such as Careem co-founder Magnus Olsson. Getbee plans to use this money round to speed up its market acceptance with major retailers. 

5. 99Starz 

99Starz

Introduction

99starz, a Dubai-based startup, has developed a unique business strategy based on the notion of an open economy, which provides financial benefits to all players who contribute to the game environment.

Company Review

Millions of players will benefit from 99Starz’s play and earn gaming paradigm. The key to increasing player rewards through collaboration is to create the broadest NFT yield ecology via guild combinations and NFT rentals. 

This STZ coin is an ERC-20 utility coin that lets members of that 99Starz group collaborate and trade value. 99Starz intends to issue the STZ token as an Initial DEX Offering (IDO) on numerous launchpad platforms in early December. 

Financial Profile

This STZ token private sale garnered a total of $3 million for 99Starz, according to the company. 100% of the allotted STZ coins were traded throughout the private auction, receiving $3 million through investors. Due to the restricted supply of the STZ token, over 230 more investors attempted to join in the private sale, providing an extra US$12 million.

Conclusion

In the last several years, the volume of startups financed in the Middle East has gradually increased. In 2019, 564 companies in the area received funding. Moreover, new levels of investment, digital use, and B2B business shaping will continue to improve the company and customer experience in MENAP in 2022. As a result, these companies want to stay in business for the remainder of the year and beyond.

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Building Better Mental Health: The Relationship Between Wellbeing and Office Design

Spending time in a cramped, dark, claustrophobic environment is not a pleasurable experience. There is no hiding that, in a matter of minutes, it can begin to bring about unpleasant effects. This is a ‘modern’ condition named Sick-Building Syndrome, which is responsible for the symptoms you get when you are in a specific building. From headaches and runny noses to rashes and tiredness, there are numerous signs – which worsen as time goes by – that indicate you are in an enclosed space that you are not comfortable in.

A well-planned workspace offers the opportunity to increase productivity and efficiency. Not only that but the layout and design of the office can also improve employee and workplace wellbeing. From airy and colourful rooms to adequately lit spaces, there are several ways in which owners and managers can arrange their work offices to aid their employee’s mental and physical health.

With this in mind, with the help of Westfield Health, we explore the relationship between office design and wellbeing by outlining some of the steps that can be taken to create a better working environment.        

Invite light in

The presence – or lack – of natural light inside a building can have a significant impact on people’s mood and overall health. Allowing as much natural light as possible into the office will reduce detrimental physical effects. It has been found that working within ten feet of a window can limit headaches, eye strain, and blurred vision by 84%.

What’s more, natural light has a positive influence on the mind and body. It affects both hormonal activity and circadian rhythms, which in turn play a beneficial role on energy levels, quality of sleep and productivity. Hence, it is crucial to ensure that workstations receive lots of natural light.

Minimise noise

There is no hiding that noise can be highly distracting. Can you concentrate on a task if there are several colleagues chatting in the same room? Ultimately, high levels of noise inside the workplace can undermine worker productivity. 

One way to tackle this problem is to identify spots inside the office in which employees can enjoy the privacy and calmness they need to thrive. Workplace design can help create breakaway areas and silent booths which will provide team members with the peace and quiet they require to focus.

Room colour

It is no secret that colour psychology can have a considerable effect on people’s moods. In this respect, advertising and marketing have been making the most of specific chromatic tones for years. You can use the same methods in your workspace too. 

For instance, shades of blue can inspire productivity, benefit creativity and promote positivity. As for green, it is the perfect colour to induce relaxation and restfulness. Based on the nature of your profession, you can choose the colours that best suit your duties and work routines.    

Fresh air and nature

The quality of air inside the workplace can have a substantial impact on the wellbeing of your employees. In fact, according to recent research by Harvard School of Public Health, fresh air in the office can aid people’s efficiency levels. Air pollution, however, can be associated with reductions in cognitive function. 

In this respect, plants can offer some precious support. Not only are they an aesthetically pleasing addition to the workspace, but they naturally purify the air by absorbing CO2 and releasing clean oxygen. Room fresheners are also another valuable option, and some of their fragrances could perk up your employees’ mood and concentration levels. For example, pine intensifies alertness, whereas citrus and peppermint can lift workers’ spirits. 

Space to eat and move

Finally, setting aside space where people can eat, drink, and move can work wonders on the morale and wellbeing of your team. Not only is it a way to allow your employees to take breaks from time to time, but it is also an opportunity for your employees to interact and socialise with their fellow colleagues. In the long term, this will facilitate integration and promote a more active culture within the workplace. 

Furthermore, it may also be wise to reserve specific rooms for exercise purposes only, whether it is short yoga sessions or some other form of physical activity. Exercising can boost your employees’ wellbeing and productivity, giving them the energy and motivation to take on their daily duties.

The layout and design of your work office can do your team the world of good. As an owner or manager, you may even want to consult your employees on the matter. You could ask: ‘What aspects of your workspace could be improved?’, ‘What additions would help you to perform better?’. In the meantime, we hope that these tips will provide you with the inspiration you need to create a work environment that supports both productivity and wellbeing.

References

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Regulating Cryptoassets: Overview of the UK Regime

By Effie Stathaki

This article discusses the application of the UK financial services regulatory regime to cryptoassets and outlines the main UK policy developments. It explains how the UK regulatory perimeter and financial promotions framework applies to market participants carrying on activities (both regulated and unregulated) relating to the different types of cryptoassets.

Introduction 

UK legislators and regulators recognise that clarity and certainty for market participants as to the rules that apply to cryptoassets is essential to encourage and support future innovation in the financial services sector, as well as ensuring optimal consumer outcomes. Currently, UK legislators and regulators have applied the existing regulatory framework and legislation to cryptoassets as it would apply to other financial products and services but are they contemplating the development of a bespoke framework for crytpoassets. This article outlines the current regulation of cryptoassets within the UK. It explains what is regulated by the UK regulators, where regulation applies and how this impacts on firms and whether a person carrying on activities relating to cryptoassets can promote its activities in the UK. It also provides an overview of the key legislative and regulatory proposals. 

Overview of key provisions

a. FCA perimeter 

The Financial Conduct Authority (FCA) perimeter, determines which activities require FCA authorisation and what level of protection consumers can expect for the financial services and products they purchase. The perimeter is decided by the Government and Parliament through legislation. The perimeter includes specified activities and investments set out in FSMA1 and the RAO2 or activities regulated by the FCA by virtue of other legislation.

b. The Cryptoassets Taskforce and the FCA cryptoassets perimeter guidance

i. The UK government established a Cryptoassets Taskforce (the Taskforce), comprising the FCA, the Bank of England (BoE) and HM Treasury (HMT), to assess the policy and regulatory implications of cryptoassets, and the underlying technology in financial services. In the absence of an international consensus of the categorisation of cryptoassets, the Taskforce has established a framework for categorising cryptoassets3, which the FCA has subsequently used as a starting point for producing guidance on the extent to which different types of cryptoasset fall within the regulatory perimeter.

The Taskforce has defined cryptoassets as: “cryptographically secured digital representations of value or contractual rights that use [that is, are built on] some type of DLT [this includes blockchain] and can be transferred, stored or traded electronically.” It sub-divided them into distinct categories of tokens to reflect their specific characteristics:

    • Security tokens
    • Exchange tokens
    • Utility tokens

The Taskforce recognised that that cryptoassets have a range of features and a variety of uses that typically (although not mutually exclusive) are: 

    • A means of exchange
    • Investment 
    • Capital raising

ii. The FCA issued the Cryptoassets Perimeter Guidance (the Guidance)4 with the aim of clarifying whether the different types of tokens identified by the Taskforce are likely to fall within the existing regulatory perimeter. The Guidance considers both unregulated and regulated tokens. The FCA confirmed that security tokens fall within the regulatory perimeter whereas exchange tokens and utility tokens are generally considered unregulated. In addition to the tokens identified by the Taskforce, the FCA introduced e-money tokens and stablecoins. The FCA considers that e-money tokens are regulated tokens, whereas stablecoins may fall within the definition of an e-money token or a security token provided they meet all the conditions of security tokens and e-money tokens or fall outside the regulatory perimeter. 

c. Understanding regulated and unregulated tokens  

This section provides an overview of regulated and unregulated tokens, as set out in the Guidance. 

i. Security tokens

A “security token” is any cryptoasset that provides rights or obligations that are akin to those specified investments, excluding electronic money, that are included in the RAO. In this sense, security tokens have characteristics of traditional securities, such that the rights and associated obligations for the holders of security tokens are largely, if not exactly, the same as those that would arise if they held traditional securities. Therefore, persons performing any specified activities as detailed in the RAO in relation to security tokens by way of business in the UK will likely need to be authorised by the FCA to do so.

A “security token” is any cryptoasset that provides rights or obligations that are akin to those specified investments, excluding electronic money, that are included in the RAO.

ii. E-money tokens 

Electronic money is defined as “electronically (including magnetically) stored value as represented by a claim on the electronic money issuer which (a) is used on receipt of funds for the purpose of making payment transactions; (b) is accepted by a person other than the electronic money issuer; and (c) is not excluded by regulation 3”5 An “e-money token” is considered by the FCA to be a cryptoasset that shares the characteristics of electronic money, such that the issuance of that “e-money token” constitutes a regulated activity for which authorisation is required if that activity is to be performed by way of business in the UK. 

iii. Exchange tokens

With respect to exchange tokens, the FCA considers these to be forms of cryptoassets that facilitate transactions, either on a peer-to-peer basis or between consumers and businesses. The most common examples of exchange tokens are Bitcoin and Ethereum. It is acknowledged within the Guidance that exchange tokens may be held for speculative purposes, such that the holder may realise a profit or offset a loss from changes in the price of those exchange tokens, but the FCA does not consider that this is sufficient for such exchange tokens to become security tokens.

iv. Utility tokens

With respect to utility tokens, whilst the baseline position is that such forms of cryptoasset are typically classed as unregulated tokens, the exact position will depend on the nature and characteristics of the cryptoasset. A form of cryptoasset that gives its holders access to a current or prospective service or product is commonly cited as the example of what the FCA considers a utility token to be. Such utility tokens may have a reward element to them, such that the holder receives a discount or other benefits from holding the cryptoasset, such as early access to new features of a product or service. As with exchange tokens, the FCA has confirmed that, whilst it is aware that utility tokens may be held for speculative purposes and traded on various exchanges, this does not necessarily result in utility tokens being classified as security tokens for regulatory purposes.

v. Stablecoins

The FCA notes within the Guidance that the regulatory position with respect to stablecoins is uncertain and that certain stablecoins may constitute security or e-money tokens. HMT confirmed on 4 April 2022 its intention to, among others, bring activities that issue or facilitate the use of stablecoins used as a means of payment into the UK regulatory perimeter6. Stablecoins that stabilise their value by referencing other assets such as commodities will be outside the perimeter. HMT stated that the rationale for doing this is that certain stablecoins have the capacity to potentially become a widespread means of payment including by retail customers, driving consumer choice and efficiencies. 

vi. Traditional financial instruments referencing cryptoassets 

It should be noted that traditional financial instruments that reference cryptoassets as an underlying asset are likely to be considered specified investments by the FCA under the RAO, as opposed to security tokens, meaning they fall within the regulatory perimeter as a form of specified investment and the Guidance would not be applicable. 

Practical considerations for crypto-asset market participants 

a. Marketing and sales of investment products referencing cryptoassets 

The FCA has banned7 the marketing, distribution and sale to retail clients of derivatives and exchange traded notes (ETNs) referencing unregulated transferable cryptoassets. It does not relate to security tokens (that is, those that qualify as specified investments), which fall inside the FCA’s regulatory remit. Derivatives referencing security tokens are not within scope of the ban.

b. FCA registration for AML purposes

As part of the registration process, the FCA will determine whether each applicant has the necessary systems and controls in place to comply with the MLRs on an ongoing basis.

The FCA is the anti-money laundering and counter-terrorist financing (AML/CTF) supervisor of UK cryptoasset businesses and has imposed a registration requirement to firms (both regulated and unregulated) that carry certain cryptoasset-related activities in the UK. These activities include:

i. Exchanging, or arranging or making arrangements with a view to exchange cryptoassets for money or vice versa, or one cryptoasset for another cryptoasset

ii. Operating a machine which uses automated processes to exchange money for cryptoassets or vice versa

iii. Providing custodian services for:

          • cryptoassets on behalf of customers
          • private cryptographic keys to hold, store and transfer cryptoassets

As part of the registration process, the FCA will determine whether each applicant has the necessary systems and controls in place to comply with the MLRs8 on an ongoing basis. The registration form asks for information about the applicant, its business (eg. business plan, marketing plan, systems and controls, list of all cryptoassset public keys/wallet addresses controlled by the applicant) and all of the key individuals in the business.

Policy developments and upcoming changes

a. The FCA 2021/2022 business plan 

In its most recent business plan9, the FCA reinstated that it is in dialogue with HMT and the BoE to develop a regime for cryptoassets that encourages innovation while protecting consumers. 

b. HMT and FCA consultations 

i. In January 2022 HMT published its response10 to its July 2020 consultation paper on cryptoasset promotions11. HMT confirmed that any adjustments to the regulation of cryptoassets must be incremental and phased, and proportionate to regulation that is sensitive to risks posed and responsive to new market developments but will encompass the promotion of certain types of unregulated cryptoassets.

The promotion of a financial service or product is not itself a regulated activity for which a firm needs to be authorised but FSMA imposes a general restriction on the communication of financial promotions unless the promotion has been made or approved by an authorised person or it is exempt. A financial promotion is a communication of an invitation or inducement to engage in, among others, an investment activity in relation to a controlled investment or controlled activity. HMT plans to expand the scope of the restriction to include “qualifying cryptoassets”. HMT’s definition of “qualifying cryptoassets” is technology-agnostic but “qualifying cryptoassets” must be transferable and fungible. The qualifying cryptoassets-related activities do not include cryptoasset lending activities or decentralised finance.

In parallel, the Advertising Standards Authority (ASA) retains oversight of issues of responsibility across all forms of cryptoasset advertising and it designated cryptoasset advertising as a “red flag” priority12. The ASA expects advertisers to, among others, make clear if cryptoassets are regulated and protect, make clear that value can go down as well as up and state the basis used to calculate any projections or forecasts13.

ii. The FCA launched a consultation in January 202214 to complement HMT’s proposals on financial promotion. The FCA is consulting on the Introduction of new financial promotion rules for high-risk investments, which includes “qualifying cryptoassets”. The consultation seeks to bring qualifying cryptoassets under a more general regulatory perimeter and to list them alongside high-risk investments, but to nevertheless include them in the category of “Restricted Mass Market Investments” accessible to retail consumers. The promotion of “qualifying cryptoassets” will be subject to the requirements of the FCA’s financial promotion rules, including special requirements for “direct offer financial promotions”. The consultation closed on 23 March 2022 and the FCA intends to publish a Policy Statement and final rules in summer 2022. 

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About the Author

Effie Stathaki is a lawyer in Norton Rose Fulbright’s financial services regulatory practice, based in the firm’s London office. She advises client on a range of UK and European legislative and regulatory matters, with a particular focus on securities and derivatives markets, financial market infrastructure and Fintech.

References
1. Financial Services and Markets Act 2000 (FSMA)
2.Financial Services and Markets Act 2000 (Regulated Activities) Order 2001/544 (RAO)
3. Cryptoassets Taskforce: final report , October 2018
4. Guidance on Cryptoassets, Feedback and Final Guidance to CP 19/3, Policy Statement PS19/22, July 2019
5. Regulation 2(1) of the Electronic Money Regulations 2011 (EMRs)
6. UK regulatory approach to cryptoassets, stablecoins, and distributed ledger technology in financial markets: in title heading: Response to the consultation and call for evidence, HMT, April 2022
7. Prohibiting the sale to retail clients of investment products that reference cryptoassets, Policy Statement, PS20/10, October 2020. The final rules, which came into force on 6 January 2021, are in the Conduct of Business (Cryptoasset Products) Instrument 2020 (FCA 2020/34).
8. Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (MLRs)
9. FCA Business Plan 2022/23
10. Cryptoasset promotions: Consultation response, HMT, January 2022
11. Cryptoasset promotions: Consultation, HMT, July 2020
12. ASA statement on crypto-assets, 23 November 2021
13. ASA non-binding guidance on Cryptoassets, February 2022
14. Strengthening our financial promotion rules for high risk investments, including cryptoassets, Consultation Paper CP22/2, January 2022

Margin Call: What it is and How to Avoid One

A margin call is an order from a broker to a client that more funds are required in the account to maintain open positions. A margin call when your account value falls below the maintenance margin requirement. If a margin call occurs, you will need to immediately deposit additional funds into your account or close out some or all of your open positions.

Most brokers will automatically close out positions if a margin call is not met, so it is important to have margin call explained and how to avoid one.

When do margin calls happen

A margin call can occur either due to a change in the market value of the securities in your account or because you have made too many trades and your account has insufficient funds to cover the margin requirements for those trades. 

If the market value of the securities in your account falls, you may receive a margin call from your broker asking you to deposit additional funds. This is because the maintenance margin requirements are based on the market value of the securities, not the original purchase price.

Similarly, if you make too many trades and your account has insufficient funds to cover the margin requirements for those trades, you will also receive a margin call. 

How to avoid a margin call

To avoid a margin call, it’s important to understand both the initial and maintenance margin requirements for the securities you’re buying on margin. You can find these requirements on your broker’s website or by contacting them directly. Once you know the requirements, make sure to monitor your account balances and positions closely so that you can take action if necessary to avoid a margin call.

Margin Call

If you receive a margin call, you can deposit additional funds or securities into your account. You can also sell some securities to bring your account value above the minimum required level. Or negotiate with your broker to lower the margin requirement or give you time to meet the demand.

If you don’t take any action to meet a margin call, your broker may take action for you. This could include selling some or all of your securities to cover the shortfall. In some cases, your broker may even close out your entire account if you don’t meet the demands of a margin call.

Receiving a margin call can be stressful, but it’s important to remember that you have options. If you take the time to understand the margin requirements for your account and monitor your balances closely, you can avoid a margin call altogether. And if you do receive a margin call, you can take action to meet the demand and keep your account open.

If you’re thinking of buying securities on margin, it’s important to understand what a margin call is and how to avoid one. A margin call occurs when the value of your securities falls below a certain level, known as the margin requirement. If you don’t meet the margin call, your broker may sell some or all of your securities to cover the shortfall. To avoid a margin call, make sure you understand the margin requirements for your account and monitor your balances closely.

In conclusion

For most investors, buying on margin is bad since saving money for a long-term goal like retirement is best. You will be compelled to increase your account equity by adding more cash and securities or selling current holdings if you receive a margin call. Because margin calls are common during significant volatility, you may be forced to sell assets at bargain prices.

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Recurring Payments: What They Are and How to Accept Them

In today’s world, people are increasingly looking for ways to make life easier. One way that businesses can help their customers is by accepting recurring payments. Recurring payments are a way for customers to pay for products or services regularly without going through the hassle of setting up a new payment each time. This post will discuss what recurring payments are and how businesses can accept them!

What are Recurring Payments?

Recurring payments are “a payment that occurs at fixed and predetermined intervals.” In other words, it’s a payment arrangement where a customer authorises a business to deduct funds from their account on a regular basis automatically – typically monthly, quarterly, or yearly.

There are many different types of businesses that can benefit from recurring payments. Common examples include subscription-based businesses like magazines or online dating sites, membership clubs, utility companies, and even eCommerce stores. Recurring payments can also be used for one-time services that need to be paid for in instalments, like a wedding dress rental or a personal trainer.

The critical advantage of recurring payments is that it provides a predictable and consistent revenue stream for businesses. This type of payment arrangement also offers convenience for customers who don’t want to remember to make a payment each month. Recurring payments can be set up to automatically come out of a customer’s account, so they can rest assured that their bill will be paid on time.

How Can I Accept Recurring Payments?

To accept recurring payments, businesses will need to set up a payment gateway. A payment gateway is a system that allows companies to accept online payments. Many different payment gateways are available, so it is vital to research which one will be the best for your business. Once you have selected a payment gateway, you will need to integrate it into your website. This can usually be done by working with your website developer or using a plugin.

Once you have set up your payment gateway, you will need to decide how often you would like to charge your customers. This can be monthly, quarterly, or even annually. It is essential to consider what will work best for your business and your customers. Once you have decided on a schedule, you need to set up your recurring payments.

How to Choose a Company for My Subscription Business?

There are a few key factors that you should consider when selecting a company to process your recurring payments. The first is whether or not a company like exactly.com offers fraud protection. This is important because it will protect you from any unauthorised charges. The second factor is whether or not the company provides customer support. This is important because you want to be able to help your customers if they have any questions or problems. The third factor is the fees that the company charges. You will want to compare the fees of different companies to make sure you are getting the best deal.

The Bottom Line

Recurring payments are an excellent way for businesses to provide convenience for their customers and create a predictable and consistent revenue stream. If you consider accepting regular payments, be sure to research which payment gateway will be best for your business and integrate it into your website. You should also decide on a schedule for charging your customers and set up your recurring payments.

Finally, be sure to compare the fees of different companies to get the best deal for your business.

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New Jersey Online Casino Legislature Expiring This Year

This November will make it ten years since New Jersey became the first state to pioneer online casino gaming, alongside foreign companies with experience in the online gambling sector. 

During this time, the nine land-based online casinos within the state have forged agreements with the likes of 888casino, Caesars Online Casino, DraftKings, Bet365, and some of the other best NJ online casinos mentioned here, to provide customers with fully-regulated online casino platforms.  

However, while the industry has enjoyed rapid growth within that ten year period, the legislation that allows online casinos to operate legally is set to expire in just over seven months time. This is unless, of course, elected officials vote to extend it. The Assembly Tourism, Gaming, and The Arts Committee held a meeting on Monday in Trenton to discuss this issue further.

Online Casino Revenues Continue Rising

Online casino gaming has gone through some development over the years. For starters, the industry is not as male-dominated as it was. Women have now begun to shake up the industry by taking on some of the most senior positions at online casinos and sports betting sites. 

As for revenues, these have steadily increased aside from the obvious struggles brought about by the pandemic. In 2014, it only managed to bring in $122.8 million in revenue. However, in 2021, it brought in an impressive $1.37 billion in earnings. This probably had to do with many customers stuck at home during the lockdown.

However, this tremendous growth has also triggered doubts among online casino operators and the Atlantic City casinos. The major problem faced by the casinos was that the Division of Gaming Enforcement had been combining the reviews of both online casinos and brick and mortar casinos to determine the “payment-in-lieu-of-taxes,” also referred to as PILOTs. These are the taxes casinos must pay to the state and city. While the casinos made these payments, online casinos that had a similar operation could keep most of that revenue.

Casino Operators Request Adjustment in PILOT

In December, casino operators were able to get lawmakers to pass a new bill Governor Phil Murphy signed. The bill removes the revenue attained from sports betting and online casino sites from the PILOT calculation.

However, the officials of Atlantic County responded to the move by filing a lawsuit. They stated that the county would lose millions in revenue if the 2016 agreement was altered. Things seem to be going their way as a state judge ruled in favor of the county regarding the case. Nevertheless, more proceedings are slated for this month before the outcome is decided.

According to industry insiders, online casino operators overseas have started to question the rationale for endlessly paying a major portion of their earnings to casino companies. This is coming up since the 2013 law states that online casinos must collaborate with a land-based casino partner before offering their gambling services.

Regardless of if a new agreement occurs, there is no doubt that casinos took a huge chunk of the revenue from online casinos during the lockdown.

The Influx of Online Casino Ads

In addition to the pending issues, Caputo, who recently introduced a bill to add an extra ten years to the 2013 provisions – made it known that his committee wishes to evaluate the effect of online casino gaming on the overall culture of the state.

Via these interactions, we aim to analyze any social impact it may have.” Cupto stated that “ We understand the benefits as regards revenue.”

Cupto stated that they believed that the marketing was sometimes too much, and they had to look for ways to regulate it. He stated that he understands that numerous companies are battling to make revenue, and the margins could be slim.

Smoking Ban Discussed 

A spokesperson for the Americans for Nonsmokers’ rights testified during the sponsorship of Caputo’s bill. However, Caputo interjected quickly that the bill was not related to a smoking ban. However, the spokesman in a bid to associate casinos and trying to get more online casino deals as a way to stop the state exemption that lets casinos avoid the statewide ban on indoor smoking.

According to remarks made by Sen. Joe Vitale, the committee chairman, a separate bill for a casino smoking ban will be sponsored in the early spring.

Conclusion

It is going to be an interesting few months in New Jersey but it is difficult to think anything other than online casino gambling legislation will get extended. With rising interest rates and house prices already causing concern, online casino revenue is worth a lot to the state right now, particularly when recovering from the pandemic and then the Riussian war having an impact on fuel prices and the economy. Indirectly the latter could reduce the numbers spent on online gambling. 

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