How Commercial Loan Brokers Can Help Grow Your Business

November 17, 2021

Being an entrepreneur requires commitment and hard work to realize your set business goals. However, this sometimes becomes a challenge due to reduced trade or the inability to cope with the increased customer demand. When your business is in such a position, your business will need additional cash to propel the growth.

But for most small and medium-sized businesses, financial constraint is a huge challenge that restricts business growth. This is further worsened because many business owners don’t know how to get the necessary funding to expand their businesses. This is exactly why you need to work with a commercial lending systems. With that said, let’s jump right ahead and see how a commercial loan broker can help propel business growth.

What’s A Commercial Loan Broker?

The commercial loan broker, also known as a business loan broker, specializes in linking startup entrepreneurs with lenders. They do this by helping you navigate the tricky financing options, which is possible thanks to their relationship with lenders and a better understanding of business financing. In addition, they provide you with useful advice to make a better decision on matters such as the loan terms, the deal structure, and different types of loans such as property loans.

Other services of a commercial loan broker include asset leasing, cash flow finance, and chattel mortgages. They also specialize in various kinds of business refinancing, including:

Commercial Real Estate Loans
Asset Based Lending
Short-Term Business Loans
Long-Term Business Loans
Business Cash Advance
Merchant Cash Advance
Business Lines of Credit
SBA Loans

The best thing about working with a business loan broker is it’s the lender who’ll pay them a commission for their services and not you, the startup owner.

Ways A Commercial Loan Broker Can Help Your Business

Working with a commercial loan broker will provide you with several benefits that you wouldn’t have realized with other traditional channels. Here are some of the benefits you’ll enjoy:

1. They’re Experienced In Commercial Finance

Your expertise will mostly be centered around business matters as a business owner. This means access to loans and such intricate details might be too complicated for you to understand. It’s exactly this reason why it’s best to work with a commercial loan broker because they’re knowledgeable about the different aspects such as interest rates, repayment choices, and the available options. They’re also experienced in better assessing your situation, allowing them to pick out the best lender to meet your financial needs.

2. Saves You Time And Money

Searching for the best financing deal is a long process because you’ll need to get in touch with different lenders to find one with the best deal. All this shifts your focus from your primary task, which should be running the daily operation of your business.

But working with a commercial loan broker saves you all these hassles altogether because they’ll be the ones tasked with finding a reliable lender. This shouldn’t take much time because business loan brokers usually have already formed existing relationships with lenders. In addition, their experience helps them quickly identify which loan best suits you. This would have taken a lot longer had you opted to go down this path by yourself and can also push for the quick disbursement of the required funds.

3. They Have Access To Numerous Lending Options

Commercial loan brokers can access the financial packages provided by a broad network of lending institutions. But if you chose to approach a bank personally, you wouldn’t have enjoyed this privilege and would instead only access a handful of their financial products. Knowing this, working with a commercial loan broker is better because it increases the chances of securing the much-needed financing to scale your business.

In addition, business loan brokers better understand the lending environment, and they can help you know what lenders usually look at when assessing your eligibility for a commercial loan. They also increase the chances of securing an incredible deal with low-interest rates.

4. Maintain The Traditional Approach

A commercial loan broker always takes time to understand your business and industry before doing anything else. Because of this, they’re in a position to provide you with personalized advice according to your business needs. Understanding this will be vital in helping you land a great financing deal to scale your business.

Takeaway

Commercial loan brokers with their excellent understanding of the business loan market will be of great help to ensure your company gets the needed financing. But as a risk-averse entrepreneur, it’s easy to be skeptical about how they might offer value to your business. It’s for this reason that this article sought to ease your nerves and take you through the benefits of how working with a commercial broker will benefit your business.

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Our Guide To Quickly Paying Off Your Credit Card Debt

November 17, 2021

Credit card debt can be a burden if it builds up slowly and paying it off is important, for your credit rating and also for peace of mind. Here is our guide to paying off your credit card debt as quickly as possible.

Take out a personal loan in emergency situations

If you are in an emergency situation to pay off your credit card in full there are last-minute options like payday loans. If you know you can pay these back then they could be an option for you. Just make sure you use the loan to actually pay off your credit card debt, not on something else that you might regret in future.

Make extra monthly payments

Don’t limit yourself to paying off one chunk of money every month, you can make two payments if you can manage to afford it. The interest on your credit card is compounded on a daily basis, the more you can pay off, the less interest you will be paying. If you get paid once a month it might be harder to pay two installments off your credit card, especially if you don’t want to run out of money. For those who get paid twice a month, this might be a more viable option. Get that debt paid off at the beginning of the month and you won’t have the chance to spend it later in the month, you will be forced to budget and spend reasonably.

Always check you are paying off the minimum payment by the monthly due date or you could risk getting late charges and penalties and this is the last thing you need when trying your best to get out of debt. If you lower your debt quickly, this can also help to improve your credit rating.

Find areas of life where you can budget

There are many areas of life where it’s easy to overspend, including eating out, transport and buying the latest gadget. Learn to cook at home and limit indulging in take-aways or eating out in restaurants regularly. You will then find you appreciate food much more when it’s cooked for you. It is simple to find recipes on websites and on YouTube, and cookbooks in your local supermarket or bookstore. Seeing how cheaply you can create restaurant meals yourself is a challenge and will help you save to pay back your credit card debts.

Think about the transport you use, would it be cheaper to buy a bike? If you start exercising more and cooking for yourself you will probably feel a lot better mentally and physically as well. You might own a car and definitely do need it for work then you could try and save on petrol by using it less on weekends. For those who rely on public transport, you can look into getting monthly discount travel cards or just cycle or walk on weekends.

The quicker you manage to pay off your credit card debt, the better for you. Just make sure you don’t let it build up again. Good luck with budgeting and paying off the debt, it can feel difficult at the beginning but once you get started you will be on a roll.

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Tax Substance: Why It is So Important When Doing Business in Hong Kong

November 17, 2021

For most entrepreneurs, the desire to see your enterprise morph into a revered multinational never leaves the minds. However, it is not easy because of the complexities associated with opening and running a business in Hong Kong. In Hong Kong, growing into a multinational becomes easy, cheap, and enjoyable if your enterprise can demonstrate tax substance. What exactly does tax substance mean? How do you demonstrate tax substance? Keep reading to get answers to these questions and a lot more about tax substance.

What is Tax Substance?

Before looking at the main activities that you can use to demonstrate tax substance in Hong Kong, let’s start by understanding what it is. Although there is no clear definition of tax substance in Hong Kong, the tax authorities will consider your enterprise to deliver substance if it contributes significantly to the growth of the island’s economy. For example, is your business paying all the required taxes on time?

Because Hong Kong is a small island with very little land for agriculture or mineral exploration, it spares no effort in ensuring that businesses help to support its economy. This is why you need to understand tax substance. The idea of tax substance is a gentle notion of telling investors that, “see: this jurisdiction is yours to exploit for growth, but in return, make sure to support the economy.”

What are the Risks of Not Demonstrating Tax Substance?

If you fail to demonstrate tax substance in Hong Kong, there are three major risks that are likely to face your business:

• Challenges Using Double Trade Agreements (DTA) Between Hong Kong and Other Jurisdictions

As we indicated earlier, most entrepreneurs are always looking for ways to grow their enterprises and transform them into multinationals. After registering a company in Hong Kong, the best way to achieve this is to use double trade arrangements, but it will be a major challenge without demonstrating tax substance. The Hong Kong Internal Revenue Department (IRD) will only approve your company’s tax residency status after demonstrating tax substance so that you can use it to take advantage of DTAs.

• Risk of Double Taxation in Other Countries

Hong Kong is very attractive to investors because of its low tax regime. However, efforts to expand to other jurisdictions could potentially raise the corporate tax if you do not have tax resident status. Particularly, your company is likely to suffer from double taxation, which could shrink your overall profits.

• Expanding to China Will Be Challenging

When expanding business to Hong Kong, most investors have their eyes fixed on taking advantage of the large Chinese market of more than 1.4-billion people. Using the Closer Economic Partnership Arrangement (CEPA), your Hong Kong enterprise should be able to enjoy duty-free export and preferential access to different sectors in China. Well, you will get none of this without demonstrating tax substance. Do not risk this type of loss because you can use expert assistance.

How to Demonstrate Tax Substance

The risks we have listed above are only a few, but they can be more. For example, you do not want to risk your license renewal getting declined only to realize that the cause was failing to demonstrate tax substance. So, let’s address it, “how do you demonstrate tax substance?” Here are some useful strategies that you might want to consider

Meeting all the business tax obligations, including remitting taxes to IRD on time.
Employing staff in line with the Hong Kong labor laws.
Maintaining a physical office in Hong Kong.
Holding meetings, such as annual general meetings and strategic meetings in Hong Kong.
Buying products for your production from other businesses in Hong Kong.
Partnering with other businesses to spur the growth of the Hong Kong economy.

As you can see, the process of demonstrating tax substance can be pretty complex because there is no clear definition, some businesses still fail to get the tax resident certificates after putting in a lot of effort. This is why you should consider working with an agency of experts to help you with developing clear strategies for growth, application for tax residency, and a lot more, such as payroll management.

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5 Innovative Finance Apps Helping Small Business Grow

November 17, 2021

It wasn’t too long ago that spreadsheets were considered the gold standard of financial management for small businesses. That era has passed, but still, some businesses aren’t aware of all the new options out there which are far more efficient.

There are hundreds if not thousands of finance apps, so it’s understandable for small businesses to not know which ones are best for them. Yet this doesn’t mean they should just stick to what you know, because the short term discomfort of switching systems can be more than made up with the long term gains.

We must cut through the noise and look at the apps most likely to be able to help your business grow. This can be through features that make you more attractive to customers or indirectly through reducing time wasted on the back end, so you can focus on the work you love and actually generating revenue.

You can do almost anything now through relatively cheap apps that are easy to use and set up. Here are some apps on the cutting edge.

1. Request.finance

It feels like cryptocurrency is constantly making headlines in today’s world. It’s breaking into the mainstream slowly but relentlessly, especially amongst the tech-savvy. Companies such as Tesla, Square, and Voyager hold significant amounts on their accounts, and using it for business-to-business payments is becoming a more common practice across all sectors.

If you’re forward-thinking, you might be wondering how you can get involved with digital assets without incurring any administrative nightmares. Luckily, Request.finance enables you to invoice and request payments using crypto with ease. Their technology allows you to keep track of everything, so you have nothing to worry about with the taxman.

The platform has handled significant volumes already, with over 900 users invoicing the equivalent of over $149 million so far. The best bit about it all is that even people without accounts can pay you with fees capped at $2, which represents major savings per transaction compared to fiat currency alternatives.

2. Zoho Expense

Small businesses are thinking bigger than ever before as the world becomes increasingly more connected. Though the pandemic drove business tourism down 61% in 2020, many experts believe it will bounce back strongly. There can be a lot of paperwork to do if you plan to travel abroad to meet up with potential clients, suppliers or other stakeholders. It can be hard enough staying on top of expenses when at home, let alone in a foreign country.

Zoho Expense can ease this friction, because it is purpose-built for business travel expenses. Within the app, you can host the complete itinerary details from the start of the trip to the end with all details that could possibly be required such as meal and seat preferences.

It’s also integrated with Sabre’s GetThere, so bookings can be made within the app itself. It reads receipts in 15 different languages and can create records in English for them just by scanning. These features help remove the hassle from business travel bookkeeping so the business can focus on getting the most out of each trip instead.

3. vcita

Cash flow management is of critical importance to small businesses for them to keep their doors open. Failure to manage your accounts receivables properly could mean cash comes in too slowly for you to keep up with your bills. Yet it’s not easy, and the traditional use of spreadsheets for management can quickly become overwhelming. Here’s where vcita can make everything simpler.

You can track all your customers and payments in one place. You’re able to see the entire history of interaction with each customer, as well as filter at a higher level to see trends. A key time saving feature is automated invoicing, which can be set up on a scheduled basis. All orders in “due” or “overdue” status will have professional invoices with all the correct information pulled through and sent to the client without any manual work for you or your team.

The efficiency combined with greater customer relationship management has meant this app is a must have for small businesses looking to set the foundations for growth.

4. Gusto

As your business grows, you’ll need more hands on deck to keep everything running smoothly. This comes with it’s own challenges, however, as payroll laws can often be complex and difficult for the average small business to manage. In the USA, the rules can vary state to state, with different forms needing to be issued and other obscure regulations. It’s not something small business owners can afford making major investments in.

Gusto makes managing payroll effortless. It automatically calculates your payroll taxes for you and generates all the proper documentation. It also lets you manage HSAs and 401(k)s too. They pride themselves on their fantastic UI with a fully featured mobile app. This allows you to manage things while on the go with ease.

Payroll is one of those tasks which you just can’t get wrong if you want to maintain a happy workforce. With Gusto, you can go on vacation and leave your laptop behind with the comfort of knowing you can ensure your staff get paid the right amount through the app.

5. Expensify

Tracking employee expenses can be a different situation for small business owners. They don’t want to treat their employees like they aren’t trusted but they need meticulous evidence for the tax authorities. Trying to chase employees to properly submit their expenses can be a huge time sink if it’s left unchecked.

The secret is to make it as easy as possible for employees to upload their expenses so there is minimal resistance. Expensify is perfect for this, as it allows people to take one click scans of expenses which upload to the cloud automatically. The chances of a missing receipt go down significantly as well as saving hours in manual processing.

Managers can see everything from a dashboard for fast approvals. You even get free cards for everyone in the team to use which reduces the administrative burden even further. You’ve got to spend money to make money and Expensify allows you and your employees to do that without creating a mountain of work in the process.

Wrap up

Small businesses now have access to many services in the palm of their hand that previously would have needed entire teams to manage. This is a huge empowerment that can help them compete on a more level playing field with larger competitors.

Whether it’s being innovative through sending cryptocurrency invoices through request.finance or putting customers first with vcita, they can do it all. Try out the apps in this list and see how it can prepare your business for growth.

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Promoting Organizational Resilience with a Message of Hope

November 17, 2021

By David De Cremer

The pandemic has made one thing clear to organizations: In times of crisis and brutal changes, many companies and their employees are in need of an emotional boost to cope and re-vive their efforts and ambitions. Indeed, the COVID-19 crisis has proven to be a burden to many, up to the point where people have lost optimism. That most employees today are experiencing a wide mix of emotions is clear, but feelings have a bad reputation in business because they are generally considered to complicate work relationships and decision-making. It is therefore no coincidence that the phrase “it’s not personal, it’s just business” is so often used when difficult decisions have to be made.

Emotions in the work place, however, are not all bad. In fact, emotions are part of work life, just as they are part of the experience of being human and therefore leadership should recognize employees’ affective states as realities they also have to work with. As a matter of fact, when it comes down to being an efficient leader, what matters is how we can deal with these emotions, and use them in creative and constructive ways. The latter is actually an important ability for leaders to acquire, as managing employees’ emotions is an important task when building the right work culture. Specifically, organizational cultures are not simply cognitive notions that are supposed to guide how employees should think and act. These cultures also represent shared emotional values and the feelings that employees during work hours express.

In times of crisis, the emotional underpinnings of an organization will surface easily and therefore need to be managed well by its leadership. Managing emotions are important to move a company forward and as such constitutes an important part of the vision that leaders communicate. By making use of this emotional route, leaders are effective in outlining a hopeful future and to energize their work force to follow the path of recovery as defined in their vision. As Napoleon Bonaparte said, “A leader is a dealer in hope.”

By making use of this emotional route, leaders are effective in outlining a hopeful future and to energize their work force to follow the path of recovery as defined in their vision. As Napoleon Bonaparte said, “A leader is a dealer in hope.”

A recent example where the emotional undertone of the organizational culture is being tapped into to stay afloat concerns the Chinese telecom giant Huawei. The company, which was founded in Shenzhen in 1987 by Ren Zhengfei, rose to global leadership when it surpassed then-world leader Ericsson in 2012 in terms of sales revenue and net profit (Tao, De Cremer, & Chunbo, 2017). Until 2020 the net revenue of Huawei kept growing, but in 2021 the financial consequences of the US sanctions have revealed itself. Specifically, Eric Xu Zhijun, Huawei’s rotating chairman, noted recently that these sanctions affected especially the company’s smartphone business by leading up to losses of US$30 billion a year. Furthermore, in the second financial quarter of 2021, Huawei reported a 38% decline in sales (Bloomberg, 2021). With the prospect of financial hardship and, as Eric Xu noted in April of this year, with no illusion that the US will lift the sanctions against the company, a grim and dark future seems to be lying ahead (Chen, 2021).

However, the spirit of the company does not seem to be harmed, but rather uplifted. Indeed, Ren Zhengfei has repeatedly noted that “there has been no chaos within the company,” “Instead, the company is now more united than ever, and has even attracted more talent.” As such, the company leadership clearly has been effective in keeping spirits positive and high. Ren Zhengfei primarily did so by announcing several times that Huawei does matter and can contribute significantly to the world by means of their innovation. At the same time, while emphasizing the positive impact that Huawei has had and will continue to have, he also made clear that the Huawei identity was being attacked, but that this threat would be averted by their sense of unity within the company. This kind of communication sustained employees’ sense of confidence and that hope could be seen at the horizon as the company would remain impactful and continue to make progress; which is a strategy that brings emotions to the fore with the aim to promote employee engagement (Lencioni, 2015).

The founder’s communication style that appealed to the feelings of the employees to sustain and further strengthen their commitment to the company has so far thus been successful in keeping people motivated, despite the financial set-backs. But, the leadership spark that has uplifted spirits by improving feelings of pride and hope was the release of Meng Wangzhou, who is the daughter of Ren Zhengfei and CFO of Huawei. She was arrested in December 2018 in Vancouver (on 24 September 2021, prosecutors in the New York federal court communicated that she would be released). An international warrant, issued by the US government, charged Meng and Huawei with bank and wire fraud in violation of American sanctions on Iran. The then-president Donald Trump did not only issue this international warrant, but also dragged especially the Chinese technology company into the trade war that he started with China, making that Huawei became blacklisted by many Western countries (De Cremer, 2020). Her return was a morale booster hardly ever seen at the corporate level.

What her return to China did was a few steps beyond Ren Zhengfei’s efforts, by eliciting a sense of companionate love within the company. Ren Zhengfei set the stage by bringing employees’ emotions to the surface in their battle with the US, but Meng’s return activated a degree of affection that companies only can appeal to in very rare situations. Companionate love has been defined as the degree of affection, caring, and compassion that employees feel and express toward one another. It is a deep emotional sense of commitment to the company where employees are careful about each other’s feelings, express compassion when things don’t go well and support and care about each other in such stressful moments. These emotional outbursts were indeed observed when Meng returned home as employees could be seen to be ecstatic, proud of their CFO, and hopeful that their resilience eventually will overcome everything. At this moment, Huawei employees clearly feel and believe that they belong to a special collective that takes care of each other and is united in their fight for a future where the company will grow again.

Huawei employees clearly feel and believe that they belong to a special collective that takes care of each other and is united in their fight for a future where the company will grow again.

All of this makes clear that Meng Wanzhou has transformed herself into a beacon of hope and a capable leader who symbolically represents everything the company prides itself to be. Such leadership able to touch the deepest feelings of its employees creates a work culture where there will be less burnout, higher job satisfaction and commitment, and lower levels of absenteeism (Barsal & O’Neill, 2014). These are conditions that have been demonstrated to lead to better work performance, and ultimately higher productivity (Barsal & O’Neill, 2016). For Huawei this is the best outcome possible at the moment. Why? Many do not expect that with the release of Meng, the tensions between the two countries will suddenly disappear. In fact, it is likely that Huawei will continue to walk down a difficult road and suffer financial hardship (Hu, Deng, & Pan, 2021). If this is the case, then this rise of companionate love may be a much-needed solution for the company, as it will help them to survive over the longer term.

The presence of companionate love facilitates the condition where emotions are understood, accepted and experienced as mood boosters that will create the perfect conditions to perform in sustainable ways. Indeed, positive mood makes people almost 20% more productive and when it comes down to the sales department, this love-kind of work climate may even improve sales by 37% (Preston, 2017). And, especially relevant to Huawei’s situation, research also revealed that happy employees made the stock prices of Fortune’s “100 Best Companies to Work for” rise by 14% per year (based on data from 1998 to 2005; Preston, 2017).

With Huawei moving out of the smartphone business and applying their tech know-how to other industries (De Cremer, 2021), these numbers indicate that the emotion-inspiring leadership styles of Ren Zhengfei, and especially Meng Wanzhou, may well be the medicine that the doctor ordered for Huawei to succeed in their new business endeavours – almost regardless of whether US sanctions stay in place or not. As Meng Wanzhou noted when returning to work “Over the last three years, although we have struggled, we have overcome obstacles and our team has fought with more and more courage,” (Deng, 2021), as such making clear that their emotional strength and spirit will be an important engine for their survival strategy.

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About the Author

David De Cremer is a Provost’s chair and professor in management and organizations at NUS Business School, National University of Singapore. He is the founder and director of the Centre on AI Technology for Humankind at NUS Business school. Before moving to NUS, he was the KPMG endowed chaired professor in management studies and current honorary fellow at Judge Business School, University of Cambridge. He is named one of the World’s top 30 management gurus and speakers in 2020 by the organization GlobalGurus, one of the “2021 Thinkers50 Radar list of 30 next generation business thinkers”, nominated for the Thinkers 50 Digital Thinking Award (a bi-annual event that the Financial Times deemed the “Oscars of Management Thinking”), and included in the World Top 2% of scientists (published in 2020). His latest book is “Leadership by algorithm: Who leads and who follows in the AI era?”

References

Bloomberg (2021). Founder says Huawei ‘more united than ever’ after US blacklist. September 15. Bloomberg News. Retrieved from: https://www.bloomberg.com/news/articles/2021-09-15/founder-says-huawei-more-united-than-ever-after-u-s-blacklist
Chen, C. (2021). Huawei under no ‘illusion’ about US lifting sanctions but will keep chip-making unit as it fights for survival. April 12. South China Morning Post. Retrieved from: https://www.scmp.com/tech/big-tech/article/3129254/huawei-under-no-illusion-about-us-lifting-sanctions-will-keep-chip?utm_medium=email&utm_source=cm&utm_campaign=enlz-globalimpact&utm_content=20211008&tpcc=enlz-globalimpact&UUID=%5BUUID%5D&next_article_id=3150345&module=tc_8
De Cremer, D. (2020). Turning a weakness into a strength: Why leaders should never leave the battlefield. The European Business Review, July-August, 24-29.
De Cremer, D. (2021). Being agile in the tech industry: Sticking to your guns or applying your expertise. The European Financial Review, October-November, 11-14.
Deng, I. (2021). Huawei CFO Meng Wanzhou returns to hero’s welcome at company headquarters after 21-day quarantine. 25 October. South China Morning Post. Retrieved from: https://www.scmp.com/tech/big-tech/article/3153598/huawei-cfo-meng-wanzhou-returns-heros-welcome-company-headquarters
Barsade S., & O’Neill, O.A. (2014). Why fostering a culture of ‘compassionate love’ in the workplace matters. April 2. Knowledge@Wharton. Retrieved from: https://knowledge.wharton.upenn.edu/article/fostering-culture-compassion-workplace-matters/
Barsade, S., & O’Neill, O.A. (2016). Manage your emotional culture. Harvard Business Review, January-February. Retrieved from: https://hbr.org/2016/01/manage-your-emotional-culture
Hu, M., Deng, I., & Pan, C. (2021). Meng Wanzhou has weathered the storm and returned home but have the clouds lifted for Huawei? October 1. South China Morning Post. Retrieved from: https://www.scmp.com/tech/tech-war/article/3150771/meng-wanzhou-has-weathered-storm-and-returned-home-have-clouds-lifted
Lencioni, P. (2015). The truth about employee engagement. Jossey-Bass: San Francisco. Preston, C. (2017). Promoting employee happiness benefits everyone. December 13. Forbes. Retrieved from: https://www.forbes.com/sites/forbescoachescouncil/2017/12/13/promoting-employee-happiness-benefits-everyone/?sh=301336d5581a
Tao, T., De Cremer, D., & Chunbo, W. (2017). Huawei: Leadership, culture and connectivity. Sage Publishing.
Zhang, J. (2021). Huawei, ZTE win China Mobile contract for converged 5G and 4G network, leaving out foreign suppliers. October 5. South China Morning Post. Retrieved from: https://www.scmp.com/tech/big-tech/article/3151248/huawei-zte-win-china-mobile-contract-converged-5g-and-4g-network utm_medium=email&utm_source=cm&utm_campaign=enlz-globalimpact&utm_content=20211008&tpcc=enlz-globalimpact&UUID=%5BUUID%5D&next_article_id=3150578&module=tc_19

How To Choose the Best Crypto Exchange Platform

November 16, 2021

The buying and selling of assets are not only limited to stocks and bonds; with the rise of digital currency, trading platforms have also begun to increase to make transactions more seamless and easier for crypto users. These platforms are used to generate profit from the financial market, and for crypto exchange platforms, the volatility of the market is what’s being taken advantage of. Selecting an exchange platform can be complex, especially if you are a beginner.

So we have compiled some pointers for you in this article to choose the platforms that will work best for you.

Ease of Use

For a beginner, a lot of things may still be unclear to you. So if you are looking for a place to start, you should look at a platform that is simple and easy to understand. Since apps are used here, have a look at an app that has a user-friendly feature, offers a free wallet upon signing up, offers basic guides with regards to crypto, and has a feature where you can see price notifications or where you pay using different cryptocurrencies.

Transparency and Authenticity

One way or the other, you may have to contact your exchange platform, so you have to look for one that offers customer care or support and one that is open to revealing the names of the company owner and their company team. You should also pick a platform that’s very responsive to inquiries.

Fees and other Charges

Beware of platforms that have hidden charges. It is good to compare the fees from different platforms, and you should know that most platforms charge fees.

In some countries like Australia, conversion fees may apply before you can do the exchange or before you can trade especially when it comes to known crypto such as Bitcoin. For this, we recommend that you see this review to know how much certain trading platforms charge for conversion fees in Australia.

But wherever you are in the world, just remember that a platform should include knowledge of any fees that may apply before you sign up.

Coin Selection

With thousands of digital currencies out there, choose a platform that should have a vast selection of crypto coins.

Security

This should be seen as a paramount indicator of an exchange platform since you are dealing with notable prized assets. For this, choose a platform that offers cold storage or a cold wallet, especially if you have a substantial amount of digital currency. Also, look for KYC or the Know Your Customer policy — a secure platform should have this together with a web address that starts with HTTPS instead of HTTP. Lastly, look for a multilayered verification process, especially when withdrawing crypto.

Final Words

With all the things mentioned that you should consider when looking for an exchange platform, the best thing you can do is do your research, and nothing beats that. Compare the platforms and check the reviews from good to bad. Read more on trading platforms so that you can be educated enough before trying a few exchanges. Plus, you can also try to do a few exchanges before you commit to one. Choosing wisely can help you achieve the best cryptocurrency experience.

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How to Claim Personal Injury: X Working Tips

November 16, 2021

A personal injury claim can get complicated if not handled properly. Since it has legal connotations, it’s best to take legal advice and proper legal steps to file a claim for personal injury.

But before we get into the tips on how to claim personal injury, we need to know what personal injury means in the legal world.

What is personal injury?

In legal terms, personal injury means any injury to your body, as opposed to any injury of property. It is a law of tort, and this injury can be done through negligence, reckless conduct, etc. The person filing for personal injury can demand compensation.

So, we know what personal injury means. Now, let’s get into how you can claim personal injury with these ten tips:

Insurance policy– Before making any accusations on the person who might be responsible (legally) for your injury, check if that person has reliable insurance. This means that if you claim personal injury from a person who has insurance, it can say a lot about whether you will be able to collect compensation/damages for your personal injury.
Finding out the culprit– This might sound like the most stupid question. Of course, you know who injured you. But in the legal world, that’s not enough. You might know who is responsible for your injury, but when claiming personal injury, you need to figure out who you are making your claim against. For example, you got injured by the machine used in your office. You might think your office/employer is responsible, but no. The claim will be against the company that produced the machine.
Evidence– Your claims should be backed up by sufficient, believable proof.

Tell the basic “when and where” of the incident.
Were there any bystanders who saw the entire ordeal taking place?
How/why the incident happened, who, according to you, was responsible, and what happened after the incident.

These all things will make your claim more rooted and substantial.

Injury assessment– Since you are claiming personal injury, you need to show evidence that your body was injured by the accused. Lawyers will also go through your medical records related to the injury, assess how this injury will affect you in the long run, and take other steps to ensure that you don’t come out empty-handed.
Compensation amount– After the evidence has been collected and assessed thoroughly, you need to figure out how much compensation amount you will likely receive. Factors taken into account for compensation are; the extent of your injury, the cost of treatment/medical assistance for your injury, travel costs during your recovery from injury, etc.
Settlement process– After all the information is laid before the other party, a settlement will be reached. The accuser’s party might negotiate, but it is entirely up to you to take that offer or decline it. You can tell your lawyers how much you are willing to settle for, and they will negotiate the amount on your behalf.
Payment– Once the court has ruled in your favour, it is time to decide the payment process. You might get the entire amount paid to you when your claim ends, or you might get what we call “periodical payments“. These payments are made monthly/yearly and are opted for when the compensation is for a long term.
Legal advice– It is highly recommended to take the help of professionals during this time. It is normal to generally not know how to claim personal injury, reach a settlement, and proceed with the whole situation. A lawyer will make you aware of your rights in this personal injury claim and also about the time this process can take. You can consult Hickey Lawyers for expert legal advice.
Realistic expectations– You need to be realistic while claiming compensation. You will be compensated according to the extent of your injury. If you ask for an impossible amount, you might just end up with nothing.
Lawsuits– Technically, most personal injury claims are settled before it goes to trial. Even a lawsuit is not filed sometimes. But if you think a lawsuit is necessary because of the gravity of the injury, then consult with your lawyer and go for it.

Final Thoughts

So, I hope this blog gave you some clarity about what to do while claiming personal injury. Just follow these tips, and you’ll be on the right track!

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Five Health Benefits of Cycling

November 16, 2021

Cardiovascular fitness is built by doing aerobic activities. Doing aerobic activity means putting the body through free oxygen. Activities like walking, jogging, cycling, swimming, rowing all are aerobic activities. Cardiovascular fitness enhances body strength and to be fit and healthy, staying physically active is necessary. Cycling is a very healthy exercise that can be easily fit into your routine. Investing time in riding can protect you from many health risks such as diabetes, obesity, some cancers and arthritis.

Cycling is the most accessible form of exercise that can be put into your daily routine. Simply, if you wish to go somewhere, then instead of burning fuel, burn calories. Also, cycling is a fun and stress-relieving activity. Many people have achieved their dream body by cycling.

Cycling is something you can do at any age, no matter if you are a kid, young adult or older adult, you can always pick up a cycle and ride away from all your way.

So here are five benefits of cycling that can enhance your physical well being-

1. Burns calories

Cycling daily can help you a lot in managing your weight. Cycling involves the strength training of your muscles. Aerobic activity always increases the metabolism rate of the body. Increased metabolic rates build muscle, thereby allowing individuals to burn more calories to maintain ideal body weight.

You are not supposed to practice hefty workout sessions. Just riding for about half an hour a day can help you manage your weight ideally. It has been observed that cycling has helped people lose visceral fat who were once overweight and obese. Also, the bunch of hormones that your body releases produce happy hormones that make you more comfortable.

2. Build up strength

Cycling means doing a leg workout, usually the leg day of your Gym. Cycling daily improves the overall functioning of our body; it also strengthens leg muscles and tones them in the way you want, so if you’re going to bring cuts and tone your legs, cycling can be the best option to choose.

Cycling mainly targets the quads, glutes, hamstrings and calves. Doing exercise to tone these mentioned muscles of your legs can enhance your cycling performance. Cycling can be made easier and smoother by opting for cycling apparel that lets you have a swift riding experience.

3. Mental stimulation

Giving mental stimulation especially relieves stress and fights depression and anxiety. Cycling also enhances concentration; while cycling, the rider has to focus on the road and be present at that moment. This increases awareness and develops concentration. After a mentally tiring day going on a cycling tour releases endorphins, the relaxing hormones and lower stress levels and helps you feel better after a hectic day.

Cycling also reduces the chances of Alzheimer’s in older people. Not doing any activity improves the risk of osteoarthritis. Introducing cycling can enhance your balance and posture.

4. Kickstart your morning

Cycling is the best way to begin a workout session in the morning. Choosing to ride a bicycle in the morning can start your day in a healthy way. Cycling boosts the circulation in the body. Feeling good and energetic in the morning is the best thing you can accomplish as soon as you wake up in the morning.

When the stomach is empty, opting for a fasted morning ride can burn fats. Riding a bicycle produces lots of sweat in a short time. Production of work leads to better muscle wastage and fat burns.

5. Improves health

Cycling plays a significant role in improving health. Regular cycling leads to a healthy and rejuvenating body. Picking up the habit of cycling at an early age also enhances the health of your heart. People who have introduced cycling in their routine have observed good healthy changes in them. One of the best benefits provided by cycling is fat loss. Cycling eliminates many sorts of health problems. Cycling is an aerobic exercise that helps to fight issues such as overweightness and obesity.

Parting Thought

Doing exercise is better than doing no exercise, so why not choose cycling if you are not a workout lover. Also, when you already know that cycling has so many benefits, why not use it as your leisure time hobby. Cycling enhances the longevity of your life and also leads to slower ageing. Every exercise reduces stress and anxiety, so call up your friends, pick up your bicycles and go for mind refreshing rides.

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6 Hacks To Grow Your Hospitality Business in 2022

November 16, 2021

The hospitality industry is a highly competitive one. If you are looking to grow your business in this tough industry, here are some hacks for you:

1. Improve Your Customer Service

The hospitality industry is entirely focused on the satisfaction of customers. Offering good customer service is one of the most important factors that determine the success of any organization in the hospitality industry.

Whether you are a restaurant, a hotel or anything else, you must ensure that you work towards creating a great experience for all your customers. And that’s not where customer service ends.

Often, some people may face some problems or have some complaints about various things. It is important that you have a decent complaint redressal mechanism in place to tackle these issues.

Hire good customer service staff that can deal with any issues people face while being patient and polite. Not just that, you need to have a portal on your website and an email or phone line dedicated to resolving customer issues.

The easier it is for people to talk to your organization and resolve any problems or queries, the better relationships you will be able to make. The easier it is for people to talk to your organization and resolve any problems or queries, the better relationships you will be able to make. You can streamline the check-in process using a visitor management system to act as your digital receptionist. This can also help your customers feel safer in the post-covid world as it enables a contactless check-in process.

2. Build A Good Website

There is very little possibility that anyone in the hospitality industry can make good profits without building a strong website. Almost everyone who is going to visit a restaurant has access to the internet and would like to check out the place before they set foot in it.

If your online presence is not much and they don’t get a lot of information about your business, it is highly unlikely that they would want to visit your place. A good website will ensure that customers learn everything about your restaurant with a simple click of their fingers.

Include all the important information – address, working hours, offers, specialties and reviews on your website that can give a new customer better idea about what exactly your organization is and if it meets their tastes.

3. Build Social Media Presence

Almost everyone is present on social media by using some platform or the other. A number of people in the hospitality industry have created some really popular social media pages that promote their brand and attract more customers to their business.

If you want to compete with them and let more people know about what you have to offer, you need to have a good social media presence. Figure out which platform most of your existing customers use. It will give you a better idea of where you need to focus more of your energy.

Create fun content that highlights different aspects about your restaurant. You can also do things like offering a certain discount to someone who tags your restaurant on their social media profiles. This will help the word about your business spread faster and thus, help you grow.

4. Online Ordering System

Convenience is extremely important to all customers- existing and potential. While your restaurant may be in an ideal spot that is easily accessible by a large number of people, some of them may still find it difficult to visit due to time constraints. They might turn to ordering food online.

If your business does not have a good online ordering system in place, you will lose out on a lot of potential orders. Build an easy-to-use system on your website or a third-party app. It will also help you gain a lot of new customers.

To boost efficiency and streamline operations, hospitality businesses, especially food trucks, can greatly benefit from adopting a food truck POS system. This technology not only simplifies transaction processing but also integrates seamlessly with online ordering, inventory management, and customer loyalty programs. By using a reliable POS system, businesses can enhance customer satisfaction, speed up service, and track key sales metrics, leading to more informed business decisions and, ultimately, growth in a competitive market.

5. Offers and Discounts

What many business owners in the hospitality industry forget is that they need to offer some discounts and other offers to customers from time to time.

This helps customers feel like they are getting a better deal and saving money and also helps your business get some promotion as people discuss the offers with their friends and family.

Seasonal discounts and discounts on someone’s birthday or anniversary will help you build stronger relationships with customers.

6. Shake Up the Menu

If you see that some things you are putting on offer to your customer are not as good as you expected them to be, it might be time to replace them. Firstly, look at your pricing.

Most often, the reason why a particular service or dish is not doing well is because it is priced too high. If you can’t change the pricing, you should look at other reasons why it is failing.

If your restaurant does not have a website, it can be difficult for customers to find you online. Thankfully, there are many restaurant website builders available that make it easy to create a professional-looking website for your establishment. With a restaurant website, you can display your menu, hours, location, and other important information that can help attract new customers and keep your regulars up-to-date.

Generally, changing some things and adding new recipes is a great way to generate buzz about your business. Promoting new items on your website and social media would lead to more people coming in or ordering online just to get a taste of the new item.

These hacks will ensure that your business beats out the competition and makes it big in hospitality.

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Reach for the 5 Stars in Google: the Best 5 Tools To Build Reviews For Google My Business Account

November 16, 2021

If earlier a good plumber or a restaurant was found by the word-of-mouth method, today everything is found on the Internet – in Google, to be more exact. Hence, Business Profiles in Google make you more visible to your local customers and showcase the services or goods you supply in the best possible light – but under certain conditions. Your business profile needs to abound in reviews from customers, preferably satisfied ones. Then it will be ranked high in local search and your place will be on top of the list offered to people looking for this particular kind of service in the nearby area.

Yet, the point is that a literal key to your Business Profile is a separate Google My Business account, and it is through this account that you claim, edit and update the Business Profile and manage the reviews. The more reviews and your answers to questions that people ask – the higher the Google ranking and trustworthiness of your business, especially among locals.

So, to stay on top and be competitive according to the Google rules, you need to:

Set up a Google My Business account,
Manage with its help the Business Profile carefully, that is, keep the info correct, upload new photos, add new features, etc.
Get Google reviews regularly and manage them – reply, deal with negative ones, answer questions, and so on.

Getting More Reviews: Limitations Of Google My Business Tool

However, the Google My Business account has a limited toolkit for managing reviews, and you will need some assistance to boost the process. There are dedicated tools that help you ask (and remind) customers to leave reviews, make this process streamlined and fast, and let you interact with these reviews in time and in the best possible mode, depending on the situation. Moreover, such tools can search the web, find reviews mentioning your company on third-party sites and integrate them all into your Business Profile, thus making it fluffed up and competitive on the market.

Finally, such tools have you covered in case you need to detect and respond to negative reviews ASAP. These systems have internal alerts about 1-star ratings and bring suggestions on dealing with problematic reviews for the best outcomes (like templates of civil apologizing responses, etc.). Remember that a company is evaluated

not only by the sheer number of reviews but also by the number of negative reviews and responses you provide.

Below, we have compiled the list of the 5 best tools to use for getting more reviews for Google My Business (GMB) and for managing these reviews better and faster. Mind that we do not advise you to buy Google My Business reviews because the harm to your reputation may outweigh the potential gains. Just nicely remind customers to write a couple of warm words about your services and the results will be more than positive.

1. Trustanalytica.com End-To-End Business And Reputation Management Tool

TrustAnalytica is a powerful tool that combines business management, CRM functions, and reputation management under one roof. So, together with Get Reviews campaigns, you get communication tools, a convenient dashboard, contacts manager, messenger, marketing kit, and more useful options. The standard package includes multichannel review requests linked to your customers’ database, signature Review Reminder emails, badges, a widget, and supporting features to streamline reviews management. With this tool, you can generate, display, and respond to reviews in a smooth and efficient way.

Pros: an accessible and capacious tool.
Cons: somewhat limited number of reviews per campaign in a starter package, but with an upgrade, this problem is solved.
Pricing starts at $99 per month for the whole end-to-end business management solution, where reputation management and reviews building come for less than $10 monthly.

2. BrightLocal Reputation Manager

BrightLocal offers a decent reputation management solution that can be purchased alone or as a part of a local digital marketing kit. The reputation management tool includes Get Reviews campaigns rolled out via SMS, emails, in-store devices, and an analytical tool for measuring impact, etc. With help of this tool, you can display reviews sourced from other sites, and you can also ask customers to post reviews on sites other than Google. All in all, the toolkit is basic but robust and will be a good choice for beginners.

Pros: you can ask for reviews to be posted on other reviewing platforms and display them in the Google account. Google My Business Audit is included in the end-to-end package.
Cons: if you want to buy a whole local marketing kit, you will need to buy the reputation manager kit as a separate unit, because the number of reviews included in offered comprehensive packages is very low (not to say shockingly low).
Pricing: when purchased as a standalone reviews-generating tool, it costs around $8 dollars per month. End-to-end solutions start from $29 monthly, but a workable reputation management kit needs to be purchased separately.

3. Podium GMB Review Manager

Podium is a big CRM tool for local business-making with a separate package for reputation management. As comprehensive and efficient as it is, its costs may seem a bit too high for really small businesses. However, overall, the company has lots of positive reviews, so if you need to get more reviews on Google you can give it a try. The reputation management package includes standard options of asking customers to write Google reviews for my business (and not only Google ones), managing reviews (i.e. responding to them), analyzing the progress and the state of the company’s online reputation. In addition, you get an app for managing reviews on the go, templates for different needs and situations, a switchboard, good reporting tools, and the feature of comparing your progress to that of your key competitors.

Pros: availability of the app, a switchboard, benchmarks, and tools for comparison across the industry.
Cons: pricing that may look extreme for a standard kit of tools and services.
Pricing: $350-$450 per month for a whole toolkit for a small business, but prices may go up depending on the number of users and locations to manage. It is unknown if you can purchase the reputation manager tool separately.

4. Grab Your Reviews Reputation Management Platform

The platform is a basic but efficient tool focused solely on ‘grabbing and managing’ reviews. Pricing is moderate, so it will be ideal for micro- to small businesses. The platform promises to facilitate ‘grabbing’ more reviews automatically, with your minimal involvement, and offers tools for managing reviews coming from various sites (an ideal option if you don’t plan to get reviews on Google solely). In addition, the platform enables you to interact with reviews and share the best testimonies in your Business Profile account and on socials.

Pros: includes only the necessary tools to manage online reputation and reviews, so you don’t have to buy unnecessary features.
Cons: a toolkit is very limited for the cheapest Basic package (you can work with only 3 review platforms, for example), so if you need to ask for a Google review from customers regularly and in bulk, you’ll have to pay more.
Pricing: the limited Basic package costs $29 per month, the Standard package costs $49 per month, and Premium costs $89 per month.

5. Swell Review Management Product

Swell positions itself as a toolkit built and priced for local businesses, yet it lives to this promise only partially. Its pricing strategy approaches that of Podium, so this toolkit is on the expensive side. However, its comprehensive approach compensates for the price. The platform offers functions for managing and promoting businesses locally, including reviews management, payment, messaging, scheduling with customers, monitoring, and chatting with potential clients. All tools can be used on the web or via smartphone.

The Swell Review toolkit includes all options you may need including automated reviews request campaigns, reviews management and integration, filtering, tracking, and even customizable Send Request rules. No matter what plan you choose, all features of the Swell Review will be open to you.

Pros: a comprehensive and sell-working platform for running and managing local businesses online.
Cons: it is rather pricey, and the review management toolkit cannot be purchased separately.
Pricing: $199 per month for access to all functions of the platform if paid in bulk annually, and $249 per month for the same access if billed monthly.

FAQ Section

Is Google My Business worth it? – Yes, the site that nurtures its Google My Business reputation has a higher ranking when searched by local keywords.

How do I create a Google review? – It’s pleasantly easy. Find a place or business you want to review on Google Maps (you need to be signed in to your Google Maps account to do it). To the left of the actual map, you’ll see a list of options, scroll and find the Write a Review field. Click it and write what you need in the open box (please be civil, though). That’s all. You can also give a score to a place/business by clicking the desired number of stars. You can add a review to a score as well. A review will be visible to anyone until you remove it. People will also see the name stated in your Google Maps account under which you write this review.

Is it illegal to buy Google reviews? – It depends. If you pay for Google reviews and use them for your private enjoyment, it’s your business. But if you post them (or have them posted for your business) as real ones, it’s a deliberate breach of the trust of your customers. That’s why professional reputation management services like TrustAnalytica do not create and sell fake reviews. Instead, they design and operate an efficient system that reminds customers to write reviews about the positive experience and gathers such reviews scattered across the web under one roof.

How much does it cost to buy Google reviews? – Prices may vary on the market, from $5 to $25 per review. More creative and true-to-life reviews will cost more per entry, and those sold by hundreds cost less per entry because they do not look like trustworthy reviews, to begin with. But this information is provided as an example only, no offers to buy or pay for Google reviews here.

Can you fake reviews on Google? – Yes, you can, but Google removes them upon detection. Sanctions against your business account may ensue.

Can I pay for fake reviews? – It’s not the best idea because Google deletes fake testimonies and reviews and your site may lose its high ranking positions because of suspected fraud.

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