US’ strive to sustain its global role, China’s willingness to resist: Is conflict inevitable?

May 24, 2021

The US and some of its allies are drawing red lines for China’s conduct in the global arena – through internal efforts at industrialization, technological innovation, politico-social reforms as well as externally through foreign policy measures. The pushback from China and its utilitarian partners – Russia, Iran, North Korea, etc is evident. This public clash of two superpowers will further shrink the space for building trust and cooperation on key issues, creating geo-political, security and business risks worldwide.

About three months into his inauguration, President Biden’s (and other politicians in the US) energy to revitalize the US role on the global stage has been evident. His administration officials have been trapezing the globe – APAC and Europe – holding strategy meetings to get allies on board. The issues pivot around China but are being navigated through a broader spectrum, including human rights, trade and commerce, cooperation on Covid-19, maritime disputes, etc. Through the NATO summit (end March), the meetings in APAC, the planned Biden-Suga (Japanese PM) summit in Washington (16 April) and the Alaska meeting with China, the messaging has been clear – the West and some of its allies are drawing red lines for China’s conduct in the global arena. The pushback expected from China and its utilitarian partners will create geopolitical, security and business risks worldwide.

The experts have deliberated the agenda, the takeaways and follow up from these global interactions repeatedly:

At the APAC level, the central theme is free and fair Indo-Pacific based on cooperation on key issues. These include vaccine production and distribution, trade and aid, the de-militarization of the disputed maritime zones, etc., to strategically take on China in the region.
For Europe, the message is the trans-Atlantic alliance’s importance via the NATO, an unequivocal emphasis on human rights and subtle warnings (mainly to China and Russia) on North Korea, Myanmar, Iran and Ukraine.
Economic, technology and supply chain issues

After four years of the Trump administration’s constant pendulum swings in what US allies could expect, this new attitude is at least beginning to show results.

Why is the US engaging in this exercise?

At the heart of this exercise is the acceptance that the US’ global superiority is no longer a matter of ‘divine rights.’ The four years of the Trump administration re-enforced the chinks in the global alliances and the decay of the accepted structures to ensure stability after World War II. It also highlighted new power challengers to the perceived US supremacy. But most importantly, it brought to fore the internal contradictions of a highly polarized US socio-political system that can no longer support the US’s grand global vision.

This push seems to have galvanized at least a section of the US electorate and the political system in the right direction, though the systemic risks can still be overwhelming. An emerging bipartisan consensus to build the US ability to push back China is evident in the bill titled ‘Strategic Competition Act (SCA) of 2021’ introduced in the Senate. It addresses several areas, including economic and technology competition with China, military investments abroad, and universal values promotion. With this bill and other focus areas of the administration, three key areas stand out:

1. Technology and research

There is a hard-line sentiment in the US that the Chinese state-led economic model and its aggressive industrial policy have eroded the US’s lead in critical technologies and industries. The US has bartered tech superiority for access to markets worldwide, which needs to be corrected. The SCA 2021 section on science and technology includes efforts to help US companies diversify their supply chain, total or partial acquisition of critical infra such as 5G mobile networks and undersea cables, and create cybersecurity capabilities in the next five years.

The fast-tracking of the Endless Frontier Act, a bipartisan bill that would authorize $100 billion over five years to fund research in cutting-edge fields in key industries, also reflects these sentiments. The semi-conductor emergency plan and the need to address chip shortages in the US supply chains have been the immediate triggers. This top-down federal involvement in the US innovation and economic activity has not been actively pursued since the 1980s in a country that fetishizes free-market capitalism. There are also efforts to control big technology companies whose platforms have been used by ‘hostile’ powers to influence elections and democratic systems.

2. Foreign policy tools:

Re-aligning the alliance system – The Strategic Competition Act stresses that the US must encourage and empower allies to do more about Beijing’s ‘aggressive and assertive control.’ An important aspect is strengthening arms-control measures with partners and regular reports on Chinese weapons and space systems. There is also a realization that the allies’ essential requirements concerning China, Russia, etc., will have to be addressed for the alliance to endure. This is probably why despite threats of sanctions to players (most prominently German companies) involved in Russia’s Nord Stream 2 pipeline to Western Europe, the Biden administration has not added to the limited measures taken by President Trump.
Strategic military investments – The SCA emphasizes the need to align the “military investments with the US political objectives in the Indo-Pacific.” These include the proposal for $655 million in Foreign Military Financing funding for fiscal 2022 -2026 and $450 million for Indo-Pacific Maritime Security Initiative. It re-emphasizes the strategic partnership with Taiwan, directly challenging China’s most vital red line, through military aid and a promise of intervention in case of a direct attack. The Biden administration’s active diplomacy with Japan, Korea, Australia and, to a limited extent, India has re-enforced the SCAs intent.
Interventions abroad, including military/training engagements and sanctions

There has been a push from the Senate to reclaim their powers, for example, of war-making to ensure that the executive branch cannot personalize the provision of military aid to countries. There is a realization that the US-led military/training engagements have been unable to contain the conflict actors. Instead, they have strengthened the hand of the US’s geopolitical rivals – for instance, Russia in Syria and China in Iran. Today, composed of foreign policy stalwarts, the Senate has shown a willingness to take on the Biden administration on Yemen, Syria and Afghanistan. While it can delay decision-making – it will also make the process of external intervention more goal-oriented and robust.

Biden administration’s internal review of the US sanctions program is based on the same principle. In the changed geopolitical environment where the US is no longer the dominant military and economic power, US sanctions on Russia, Iran, Myanmar and North Korea have failed to achieve the desired results.

Internal socio-political reforms are perhaps where the US political class will have to spend most of its efforts and keep falling short.

3. Internal socio-political reforms

In their first-ever meeting with Biden administration officials in Alaska, the Chinese officials lamented the US efforts to impose ‘democracy and values.’ They pointed to the Black Lives Matter movement, Capitol Hill incident, frequent shootings – underscoring the point that the US system is far from perfect. Internal socio-political reforms are perhaps where the US political class will have to spend most of its efforts and keep falling short. Notwithstanding its economic implications, the infusion of the USD 1.9 trillion Covid funding into the US economy is an admission that the politico-economic system has not worked for many. Biden’s $2 trillion infra and economic recovery package is an effort to address long-held pain points on deteriorating civil infrastructure that has held back both urban, rural and industrial growth. Dubbed as the ‘American Jobs plan,’ the package echoes many SCA themes, including modernization of transportation, EVs, manufacturing, housing, R&D and digital infrastructure. Gun control bill, hype on immigration, voting rights – are areas that will require the beginning of fixes on which the consensus is threadbare.

The US remains the only power with the wherewithal to take on China individually and through a global collaboration of nations. This moment of internal reckoning thus has wider repercussions. However, taking on China and other irritants worldwide is not easy, and their pushback will create risks worldwide. As the Biden administration has taken a tough stand and allies have backed it, China is activating its alliances with Russia, North Korea, Iran – aimed at creating a substantial ‘no solution to critical problems without our help scenario.’

China’s increasing belligerence

It is not a coincidence that four developments have followed each other- China’s 25-year agreement with Iran, Russia’s troop build-up on Ukraine’s eastern border, China and Russia’s backing of the military coup in Myanmar and a statement of cooperation between China and North Korea that threaten the restart of nuclear weapons or ICBM. Individually most of them may not amount to a significant escalation. Still, together it’s a message that China has utilitarian partners propped up by its money power that can complicate life for the US and allies in most regions. China has also demonstrated that it can sanction corporate entities, close market access, create supply chain disruptions and mount crippling cyber attacks.

Experts have cautioned that cutting China from critical technologies will only spur the nation’s efforts towards self-sufficiency.

Significantly it is charging ahead with its ‘Made in China 2025’ strategy and research in cutting-edge technology. Significant advances in these initiatives can undercut US aims to contain China – as China works towards self-sufficiency in technologies required for ten key sectors, including robotics, AI, EVs, semi-conductors, aerospace, etc. Experts have cautioned that cutting China from critical technologies will only spur the nation’s efforts towards self-sufficiency.

In the security and military realm, China is changing the ground situation in several of its disputed maritime territories. In the South and East China sea, China has created artificial islands and militarized its assets. It has also formed ‘maritime militias’ that deny Beijing’s plausibility for attacks on other stakeholder countries’ naval vessels, infiltration of Exclusive economic zones, etc. Incidents such as the recent one in the Whitsun reef where 200 Chinese vessels entered the Philippines (an erstwhile ally) Exclusive Economic Zone (EEZ) – demonstrate that Beijing has significantly raised the stakes for retaliation. The Chinese have also developed ‘feet on the ground’ in some areas of US (and allies) interests – e.g., in Central Asia, where China has a military base in Tajikistan and a supposed base in the strategic Wakhan corridor in Afghanistan. It has emerged as a major actor in the Afghan peace process and the larger restive region. It has also taken advantage of the US foreign policy tools’ weakness – using US and Western sanctions to bring the Myanmar military under its wing.

Both the powers are circling each other, testing the others’ endurance and weakness. While on the one hand, the US’s steps are tepid and many allies are still ambivalent – a clear message, unlike any in the last 20 years, seems to have also gone out to the Chinese leadership. President Xi will find it difficult to meet President Biden before the 1 July deadline – the 100th anniversary of the Communist Party of China’s formation. It is a landmark that President Xi was counting on to create a perception that everything is normal. This throwing and acceptance of the gauntlet will further erode the space for any trust-building or coming together on critical global issues between the world’s two greatest powers. It will instead heighten the public confrontation, forcing a zero-sum approach even in areas of deep interdependencies.

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About the Author

Shraddha Bhandari is the Co-founder of Intelligentsia Risk Advisors, a strategy consulting firm that aims to facilitate ‘ease of doing business’ by managing and mitigating geopolitical, social, operational and security risks. In her last corporate avatar, Shraddha was heading the Asia-Pacific Intelligence team for Barclays Bank PLC, analyzing geopolitical risks and their impact on business decisions, operational continuity and crisis response. She graduated from the London School of Economics with distinction in Comparative Politics.
Email: [email protected]

Boat Accidents Are More Common Than You Think: Advice on How to Stay Safe

May 24, 2021

The sea out there is meant to be explored and not simply looked at. A lot of people see boating as a good way to explore the world. For most of them, the breeze from the winds and the soothing waves offer a relaxing experience unlike any other.

As good as it is, you shouldn’t take boating too lightly. In 2018 alone, there were over 600 boating accidents and most of which saw alcohol as a contributing factor. Believe it or not, boat accidents are actually very common and it’s best to avoid these. If you are out in the sea, the last thing you’d want is to have your boat crash with another.

Whether you’re a newbie to boating or if you’re already a seasoned captain, you’ll want to continue reading as we’ve got some amazing tips on how you can avoid boat accidents.

Take a Boating Course

We can’t stress this enough, but you should take a boating course before you head out into the open sea. A boating course teaches you all of the important aspects of maneuvering a boat. It’s not just about safe handling too as these courses also teach you about proper boat etiquette and maintenance.

With the right training and certification, you can avoid accidents on the sea very easily. A boating course is often a requirement in most states anyway. You can get a certification upon completing this course. These courses can take a few weeks to complete depending on how often the classes are weekly.

Stay Far from Other Boats

Once you’re out in the open, hitting other boats and getting into accidents is less likely. Keep in mind, we said “less likely” and not impossible. One of the ways you can further decrease the chances of this happening is by simply staying away from others as much as possible.

The waves can often push your both several inches towards other boats so it’s best to stay away from them instead. Ideally, you’d want to stay several meters apart if you are hoping to avoid a collision. That being said, this is a two-way affair and the other boat needs to stay away too. In the case that a captain steers near you, move away from them immediately. If the other boat is the cause of the accident, then you should hire a boat accident lawyer in San Diego to help you with the case. You can get compensated for the damages made to your boat and your health because of the accident.

Always View the Weather Forecast

You can be the best boat owner and captain out on the sea but if the weather is bad, there’s nothing you can do about it. A lot of boat accidents are caused by poor weather conditions. As such, it is important that you always check for weather updates before you head out.

Ideally, you’d want to avoid setting sail if the weather forecast suggests that there’s going to be strong winds and rain. It’s not just these things that will affect your journey. The decreased visibility can also disorient you as you are manning the boat. Unless clear skies are promised, keep the masts down.

Avoid Alcohol

As you would when driving a car, you should do your best to avoid manning a boat when you are under the influence. This means avoiding heavy drinking before and during your boat trip. The seas can be rough but they can be made tougher if you are under the influence.

For the sake of your passengers and yourself, only man a boat when you have a clear mind. Manning a boat under the influence can lead to serious – and possibly fatal consequences as well.

Always Do Engine Checks Before Heading Out

The last thing you’d want happening while driving a boat is having your engine fail you in the middle of the sea. Worse, have your engine fail you as you are about to avoid the collision. It’s very important that you check your engine beforehand.

If you aren’t well-versed when it comes to checking the motor of your boat, you should have someone else who’s more knowledgeable do it for you. Also, remember to check if you have enough gas too.

Accidents at sea are far harder to respond to as compared to those that are on land. The last thing you’d want is to be in a boat accident because it’s far more life-threatening as compared to a car accident. Hopefully, these tips make your next boat trip much safer than it was before.

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Why Small Businesses Face Challenges When Applying For Business Loans: An Analysis

May 24, 2021

When it comes to strengthening the business, loans are hard to come by for small businesses. Banks and other financial institutions are wary of the creditworthiness of small businesses for several reasons. A capital cash infusion at the right time can prove to be a boon for a small business. It can help them-

Get over a difficult period, like the one existing now during the COVID-19 pandemic.
Allow them to diversify and open up different models and verticals to help growth.
Attract new professionals, buy newer machines or ramp up production for emergencies.

Regardless of the kind of business, loans can be a vital cog to help organizations stay afloat or prosper as the case may be. Leading experts have gone on record to say that the loan proposal and application of small businesses are more likely to be rejected as compared to their bigger counterparts.

In this resource article, we try to shed some light on the above findings. Specifically, we list down some important reasons that act as challenges for small businesses.

List of 5 Main Challenges in front of Small Businesses when applying for Loans

1. Limited and Restrictive Cash Flows

Small businesses suffer from an acute problem when it comes to regular cash flows. Their payment schedules are irregular and this casts doubt over their creditworthiness when applying for loans. This is because lending institutions want to see whether you have enough cash coming in every month to pay back interest and EMIs. Cash flow is a major concern.

2. Poor Business Plans and Way Forward

No bank is ever going to give you a loan simply to tide over a difficult situation. They will however give you a loan if you can show that you are going to use their money to grow the business. In this regard, a solid business plan becomes a very important aspect of getting a loan. If you have a course of action in place, you stand to make a better case for getting the loan.

3. Negative Credit Scores and Financial History

Many small businesses have sketchy financial records when it comes to paying back debts. According to UK Credit, a leading financial lender, this is a serious red flag for any institution. If a small business has a credit score that is lower than 700 points, it is very likely that its loan application is going to be rejected. A better option is to fix it earlier before applying.

4. Incomplete and Irregular Paperwork

When it comes to possessing the right paperwork, financial institutions are likely to be more stringent with small businesses. Documentation is very important when applying for a business loan. This includes income tax records, licenses, registrations, and permits. Banks are also going to scrutinize the bank accounts and balance sheets of the small business.

5. Not Taking Help from Experts before Applying

One of the many mistakes that small businesses make is not taking help from an expert who is familiar with the entire process. For example, a Chartered Accountant or a Business Lawyer can be the correct person who can guide a small business in the right direction. They can also help in getting all the paperwork in order and cover all the bases to make a full-proof application.

The Importance of Business Loans for Small Businesses

For a very long time, private corporations have worked with financial lenders to grow operations. You might have heard the age-old addendum, ‘money makes money. According to experts, there are three major benefits of availing of a business loan:

A business loan helps an owner or an entrepreneur keep complete control of their business. This is different from raising capital for an investor who is more likely to take an active interest in the day-to-day operations and decision-making of the business.
Taking business loans is a fast and immediate way to infuse capital into a business. The loan disbursal is fast and you can immediately put the money to good use. This helps saves time and starts the turnaround process quickly.
Many business owners try to max out their credit cards to get the financial resources that are required. Business loans come with lower rates of interest as compared to credit cards and make more financial sense for small businesses.

The Final Word

In this article, we have tried to look at some important points regarding business loans for small businesses. We have discussed some of the major challenges that small businesses face, along with shedding light on some of the major advantages of business loans. If you have any other questions you would like us to answer, let us know in the comments section below.

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4 Major Business Fraud That You Need To Be Aware Of

May 24, 2021

Thriving a business can definitely be a daunting task. However, when you are an entrepreneur, there are high chances that you can fall into the trap of fraudsters, and hence it can cause diverse impacts on your business.

This is why you need to be prepared beforehand to deal with such situations. This guide states the 4 Major Business Fraud risks that can occur in your business. Through this guide, you will know the potential types of risks to fight them accordingly.

Four Types of Business Fraud

Identity Theft

One of the major business threats that you need to be aware of is the identity theft. This can cost you thousands of dollars. Generally, in this thread, fraudsters steal your business identity, thereby using it to access your credit. The bank statements, federal tax identification numbers, financial statements, and other confidential documents can be at significant risks. At times, they even steal the complete information of your system.

To avoid such circumstances, ensure keeping all your confidential and sensitive information in place. In case you have physical copies, lock them inside your cabinet that has only your access. If you have digital copies, try using a difficult username and password to prevent phishing. And most importantly, never share or allow anyone to access your information.

As stated above, frauds can even have illegal access to the bank account linked to your business. As a result, employees lose their paycheck. Paychecks are extremely sensitive as they comprise your business bank account number and routing.

In case a lost paycheck gets to wring hands, fraudsters can use it to withdraw money from your bank.

To avoid this, you can separate your business payroll account from the other business money. In case you have a separate payroll account, fraudsters will only have access to restricted funds. Deposit the specific amount used to cover the employee paycheck. You can even start paying your employees through direct deposit and not paychecks. Direct deposit puts the salary straight into the employee’s account. This does not need any pass or sensitive information.

Money Fraud

Another major part of business risks includes Money fraud. Or let’s just say, more than major. There is so much illegal circulation of cash in several countries that it gives rise to fake bills. Money fraud is something that can occur at any point in time without even showing signs of it to your or your customer. However, counterfeit money becomes worthless while you deposit the same to the bank.

One of the most common counterfeit bills is extremely high valued, such as $100 bills. In case you accept any of the counterfeit money, you will gain zero revenue from the sale. You can even end up providing original currency in return for a fake bill in the worst of cases.

Make sure you protect your small business or any business regardless of its size from money frauds by getting a good piece of knowledge on differentiating between fake money and original money. You will find several features in legal currencies like watermarks raised printing, color-shifting ink, microprinting, etc. Moreover, make sure you educate your employees on how to cross-check the cash before accepting it.

Payroll Fraud

Another major common threat is the payroll schemes. It is as common in small businesses or organizations similar to the ACFE in larger companies. There are distinct ways in which payroll fraud can take place in your business.

Here, employees may demand advance payment without paying them back. Most of the time, employees even lie about the number of hours that they have workers.

To avoid this, do a thorough background check on each of the employees before you conclude to hire them. Ensure you audit payroll accounts to detect and catch the early behavior of frauds just in case. A genuine employee will never raise questions about security.

Make use of SaaS payroll services to approve the payroll long before you pay your employees. Moreover, you can even keep a fine track of their pay rate along with the working hours of employees in your system. Never wait until the time your business doles out and your employee starts eyeing the huge sums of cash.

Return Fraud

Regardless of their size, small to medium, most of the businesses that deal in selling have gained a good experience in return fraud by different means. Usually, there are a variety of return frauds. The most common type is some consumers purchase a certain product, use it, and return it even if there are zero defects. In most cases, you can even discover fraudsters who steal certain products from you in an attempt to pay them back to make a profit.

Usually, return frauds can be extremely harmful and demanding to your organization and our business at high risk. Although you might not be capable of eradicating all the return grids, you can definitely restrict it based on your company policies.

To avoid return frauds happening in the future, you will need receipts. Furthermore, you can even put more pressure on tightening your company policies so that the consumers receive only the store credit after a specific period. We understand you always want to keep your consumers happy, but hurting your business and putting its security at stake must be the last thing you would want for your business.

InvoiceE Fraud Schemes

This sort of fraud happens when the fraudster (regularly a worker in sales or accounting) makes fake solicitations to take cash from the business. This could mean invoicing for items and administrations that were rarely purchased, making a fake or phony provider/shell organization to pipe the cash to, or granting over-expanded agreements to close companions and family.

Step by step instructions to stay away from it: Cross-check each invoice with actual goods and services bought. Do far reaching and comprehensive background verifications prior to endorsing another provider.

Red flags that you are required to watch out for in your organization today

Over time, you must have been quite relied on by your staff. However, make sure you notice the changes and red flags. Trusting them blindly can create major room for business frauds. Some red flags include:

Deletion or inaccurate calculations in financial data
Unexpected hikes in business profitability
Inappropriate selection of accounting policies by management
Reporting the revenue after period cutoffs
Potential judgment and changes in financial estimates
Negative cash flow

You will usually notice such abnormalities in the finance department of your business. Ideally, they are even the first ones to raise the issue. However, if you are sure that someone in your finance team is doing the fraud, it can be difficult to identify them.

Several other fraud protection tips

Here are five extra tips by which you can be more aware of frauds.

Encourage your employees to inform or report immediately when they see red flags. Make this fraud reporting culture compulsory in your workplace.
Implement surprise audits
Inspect regularly
Make sure your company has specific anti-bribery, anti-corruption, and anti-fraud company policy
Implement all the policies, consequences, and regulations in case any employee violates your rules

Conclusion

Regardless of the niche, size, or nature of your business, all organizations are vulnerable to attack fraudsters in case they are unaware of the different ways to manifest the fraud. With this, we come to the end of this discussion. This guide states four Major Business Fraud risks that you must be aware of. Once you reach out to the root of the fraud happening in your business, you can implement more security measures to secure your business.

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5 Reasons Why You Should Golf for Business

May 24, 2021

A lot of business is done on the golf course and perhaps it is time to take up the game yourself and maximize those opportunities that golfing for business can offer you. Here are 5 reasons why playing golf could be good for you and your career.

It Is Great for Networking

The golf course is a great place to meet new people and network for business. Once you start playing a round of golf, you have ample opportunity to get to know your new golfing partners. You can start to build friendships that will serve you well both on and off the golf course and last for a long time.

It Gives You the Opportunity to Sell

A round of golf takes 4-5 hours to complete. This gives you plenty of time to sell your products or services softly without having to appear pushy. This will serve you a lot better than going into a rushed thirty-minute meeting where you have time to do nothing else but go for the hard sell. If you are known to your potential clients already, they are more likely to trust you and therefore buy from you. They are also more likely to recommend you to their friends and colleagues and before you know it, you will have several new clients.

It Gives You Time to Observe Others

Golfing can give you a great opportunity to observe your business associates. It is fair to assume that how someone behaves on the golf course will reflect how they behave in the boardroom. An executive who tries to cheat at golf is also likely to do the same in business. Someone who misses a shot and throws a temper tantrum is likely to have a short fuse in the office too. Once you have an idea of their characteristics, you can figure out the best way to work with them or even avoid doing business with them.

It Gives People Time to Observe You

It will also give people time to observe you. Make sure you give the right impression by keeping your cool on the golf course while those around you decide if you would be a good person to do business with. If you are new to the game, this might be a bit daunting but you could always practice on your own with a golf launch monitor, to make sure that you get the most out of your game when it matters.

It Helps You to De-Stress

There are many ways to alleviate stress but playing golf is one of the best. There is something very relaxing about being able to amble around a golf course, at one with nature and breathing in lots of fresh air. It will help you to unwind, de-stress, and lower your blood pressure too. Enjoying a game of golf with a business contact is a lot better than trying to do business in a stuffy office where you can hear the phone ringing and you know your next appointment is waiting in the hallway. Golfing will help you to keep a clear head and think about your business as well as your golfing strategy, making sure that you get the best out of every trip to the golf course. Another tip is that you should only wear comfortable and breathable golf clothing brands.

Bonds are made and secured a lot more easily on the golf course than they are in the boardroom and that is probably why so many people conduct their business on the golf course. These are just five fantastic reasons why you should play golf for business but there are many more.

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COVID-19 Travel Restrictions: How a Second Passport Can Help

May 24, 2021

At the peak of the global COVID-19 lockdown, most countries shut their borders to international travellers. The restriction was more telling on those from countries with high infection rate. This made many people stranded at different locations against their wish. Interestingly, those with dual citizenship had a better chance at international travel as they could access at least two countries despite the lockdown.

Passport has become a must-have tool for international travel since after World War I. Ever since then, it determines where people can and cannot visit. And as witnessed during the lockdown, passport will continue to matter for international movements. However, having more than one means you are much less restricted even during a crisis. The following are some of the areas a second passport can be helpful during a crisis.

Safety

The COVID-19 experience has once reminded us that nothing can be as important as the safety of lives. Fortunately, a second passport can be harnessed for safety during a crisis. At the pandemic outbreak, the epicentre kept shifting from one location to another, increasing tensions among residents in those countries. At that moment, home no longer felt like home for many people. A Pew Research report shows that 1 in 10 young adults in the United States had someone who moved into their household due to COVID-19.

Given the heightened fear of contracting the disease in those epicentre countries, many residents’ biggest wish would have been to relocate to another country they considered safest for them and their families. This is because as the virus ravages many places, some countries had very low cases of infections and deaths, and the atmosphere was much calmer in those places. Unfortunately, most people with a desire to move couldn’t actualize it because the passport they carry doesn’t support that. With border closures in almost all countries and rigorous international travel process, running for safety was difficult or impossible. Having a second passport will make it much easier to move to another country considered safer during a crisis.

Mobility

Everyone desires the ability to move about – to anywhere and at any time they want. Unfortunately, a crisis-induced movement restriction can be a huge barrier to this, as witnessed during the pandemic outbreak. Even those from countries with strong passports were stranded as no nation was ready to welcome them. For instance, when the US became the epicentre, almost all countries shut their doors to their citizens. As a result, crucial travel plans were put on hold. The United States has one of the highest annual global health tourism rates. Millions of Americans seek healthcare services in other countries due to reasons ranging from costs and regulations. The movement restriction also affected international business travel, leaving many entrepreneurs stranded. But for travellers with more than one passport, it was easier to move from one country to another.

This has been the greatest advantage of multiple passports, as you are less restricted by a country’s laws because you have multiple options. In addition, a second passport will automatically increase the number of countries you can visit visa-free or visa-on-arrival. Some passports are so powerful that they can unlock the doors to many places. A good example is the British citizenship, which according to UK Immigration Lawyers, can be obtained through various routes. The passport grants access to over 180 countries, either visa-free or visa-on-arrival. Other countries with such high passport privilege include the United States, Canada, and Singapore.

Family Ties

Having a second passport can help you stay close to your family during a crisis. At the outbreak of COVID-19, many families were torn apart as a result of global travel restrictions. Various reports show the devastating effects of the restrictions on people stranded at different destinations abroad – away from their loved ones. Among the most affected were the international students who were caught amid borders closure and administrative difficulties and couldn’t return home to their families. In August 2020, African News reported how tens of thousands of African students were stuck in France and their struggles coping with confinement, isolation, and loneliness thousands of miles away from their relatives.

On top of the excruciating mental effects, some of them also faced financial downturns and had to rely on food banks on several occasions. “It’s hard. Not only without work but at the same time you can’t see your family,” an Algerian student complained. Thousands of couples were also divided for several months, as spouses got stuck thousands of miles apart. Also, many children couldn’t see their parents for several months, and families had to catch up via digital means such as video calls. Despite the digital avenues, many people still expressed frustrations due to the sudden lockdowns that tore their families apart.

Health Purposes

A second passport can be one of the most important possession during a crisis, especially a health-related one like coronavirus. The rapid spread and high fatality of the virus quickly put pressure on the healthcare system in many epicentre places. Coronavirus treatment became the highest priority, and many patients suffering from other conditions were given less attention. In many countries, thousands of patients with chronic non-COVID-19 cases faced difficulties accessing a specialist. For instance, in Italy, one of Europe’s epicentres, there was a drastic reduction in hospital admissions for non-COVID conditions. The fear of being infected by the virus also discouraged many people from visiting the hospital.

The situation was even worse in countries with inadequate health facilities and a shortage of medical professionals. The best option for many people who found themselves in this situation would have been to access their much-need healthcare service abroad. Unfortunately, the global travel restriction made medical tourism practically impossible. According to the American Journal of Medicine, around 16 million people embark on medical tourism yearly, spending $45-$72 billion. That shows the significance of outbound medical care services on the world population. However, due to the restriction, the industry cratered and left millions of people with little or no option of getting their desired healthcare. This is one of the crucial areas where second citizenship can prove to be invaluable as it can be leveraged to seek medical attention abroad.

How to Get a Second Passport

Obtaining a second passport has different procedures depending on the citizenship and immigration laws in different countries. For instance, the eligibility criteria for getting US citizenship include being a permanent resident in the country for a specified number of years. Other requirements are age, good moral character, and physical presence in the country. Other countries with A-list passport privilege also have similar requirements.

In Britain, you must demonstrate at least 5 years of continuous residency in the United Kingdom, with no longer than 450 days spent abroad within the 5-year period. Though the process can appear to be somewhat lengthy due to several steps involved. However, by working with experienced UK citizenship and immigration solicitors, you can fast-track the application procedures and receive your citizenship without delays.

Apart from these, you can also explore the fast and affordable citizenship options in Caribbean countries like Dominica and St Kitts and Nevis. Other countries with similar options include Grenada and Malta. In some of these countries, you can complete the citizenship by investment process in less than 6 months. It usually requires investing a specified amount of money in the country’s economy or donate some money. Again, requirements and process vary widely from one country to another. The most important thing is to do your due diligence and ensure you meet the requirements before proceeding with the process.

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About the Author
Olusegun Akinfenwa is a correspondent for Immigration News, a news organization affiliated with Immigration Advice Service. IAS is a leading UK immigration law firm that helps applicants navigate their British immigration and citizenship application process.

What are Pokies in Australia?

May 23, 2021

Australians love to gamble, and this isn’t a new trend. It’s been a favorite pastime that is part of the national fabric for a while now. About 80 percent of Australians gamble once a year, so it’s no wonder online gambling has taken off as well.

Above all else, Australians value their beloved pokies. They now enjoy better access to their favorite online casino games, thanks to more favorable industry regulations and the proliferation of internet-enabled smart gadgets all over the continent. The ability to play pokies anywhere only promises to increase the demand.

What are Pokies?

Pokies.bet states the definition of pokies as an Australian version of slot machines. The name pokies comes from a shortened version of the term poker machines. The term is now used by most who indulge in the games in Australia.

The difference is in the name, but gameplay and features are similar to any other slot games. If you’ve played these games elsewhere around the world, you won’t need any introduction to the versions you’ll encounter in Australia. The only variations you may see are in features and experiences that come with different pokies titles.

The earliest versions only contained three slots. This physical design disadvantage meant that you could only play one single pay-line per spin (some early versions included three or five paylines). It limited the player’s winning opportunities, but the advent of online slots changed that.

There are numerous pay slots allowed with digital pokies, thanks to the rapid incorporation of cutting-edge mobile and web technologies. More paylines increase your opportunities to score a win. Each digital casino offers hundreds of pokies games, giving you more choices. A good example of this would be darmowe spiny za rejestracje bez depozytu.

Pokies Themes

Australian pokies gained several functional and aesthetic improvements over time. Thematic upgrades are a crucial part of this dramatic transformation. Unlike mechanical slot machines, digital pokies provide stunning interfaces with an endless diversity of themes. Their design draws inspiration from popular culture and other easily relatable subjects or backgrounds.

These include flowers, jungles, ancient Egypt, and more. Online slots with celebrity or box-office-inspired designs are a major attraction these days. Sports and folklore are also themes that many players from different walks of life can easily identify with.

Each title has a unique visual presentation. When you decide to play an online pokie game, you are likely to find a version with high-quality graphics, images, or other design attributes that suit your preferences. The popularity of casino game themes affirms that gambling isn’t just about winning or losing. The mood-setting visual aesthetics and seamless user experience designs are a vital part of Australian pokies.

Pokies Popularity

Pokies are by far one of the most popular ways Australians gamble. A 2016 survey estimated that Australians lose around $11 billion playing pokies each year. Some important milestones in the Australian gambling industry precede the pokies popularity levels witnessed today, such as:

Pokies legalization– The gradual and eventually full legalization of gambling in Australia paved the way for the practice’s popularity. Australians 18 years or older can now legally play online pokies or visit physical casino venues.
Video pokies– Playing pokies was never the same after video versions entered the scene. Revolutionary video pokies changed the betting experience in significant ways, catapulting their popularity across Australia.
Online technology– The internet and websites enabled casinos to deliver video pokies to players in the comfort of their homes. This revolution began with the proliferation of computers, but smartphones with higher graphics, memory, and processing power helped put online pokies in the hands of a lot more Australians.

Where to Find Pokies

One can find pokies in every casino throughout Australia. Additionally, some pubs and eateries showcase pokies. These physical venues provide a social, interactive aspect to gambling, where players can have fun in groups with onlookers.

More recently, Australia saw a surge in online pokies use. One of these is Spin Oasis casino which also supports playing in all crypto currencies bitcoin. Users can quickly access their favorite pokies games from their computers or smartphone application. This makes it easier to pick up pokies as a habit during free time.

If you’re looking to play pokies in Australia today, you can sign up at an online casino. You can even play without depositing anything, depending on the unique signup offers available on your preferred site. This option is more appealing as it doesn’t require you to go to a physical gambling venue, and most online pokies offer great user interfaces and multiple opportunities to win.

Australian Pokies

Pokies are a popular pastime for the Pacific island. These games have come a long way from the era of three-reel slot machines with one, three, or five paylines. Online pokies now reign supreme, and Australians can easily access them on their laptops or smartphones.

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Netherlands: The Perfect Home to a Successful Business

May 21, 2021

The business world is a competitive industry where it takes years of experience and hard work to reach on top. All the big companies that you see today in Forbes list were once small businesses handled by entrepreneurs who made wise decisions of entering the market at the right time.

One more thing that made them successful was starting or expanding businesses in the country that benefits them in terms of taxes and profits. The Netherlands is ranked #5 for being home to innovation and one of the best countries in the world where every small business is bound to be successful. It has the most advanced business market in Information & Technology, Agriculture, Chemicals and Pharmaceuticals, Logistics, Health Sector, High-Tech & Innovations, Energy, and Creative Arts.

So, if you are looking for expanding your business or set up a new business, Netherlands is your perfect destination. Here are some advantages of starting a Dutch business:

Lowest Tax and no VAT

Every business aims to pay less tax and gain more profit, especially when you are a small business that does not have enough funds to pay VAT. You can start a Dutch business by getting the basic documentation done in no time. The Netherlands believes in bringing talent and giving the right to everyone to unleash their entrepreneurial spirit. The corporate tax rate is 15% which is the lowest in Europe with no VAT due if the transaction is within the EU States.

Opportunities and Investors

A business is successful if it is set up in a market where there are many opportunities and interested investors. To find more information on how to start your business in Netherlands, you can visit intercompanysolutions.com and get all the necessary information you need. The Netherlands holds events to invite big investors to engage with Dutch businesses for the sake of partnerships and investments.

How to Start a Dutch Business?

The above-mentioned are the most important part of starting a Dutch business. It can be easy if you know someone who can handle the legal work as the Netherlands has much complex paperwork that only experts who are familiar with the country’s law can handle.

Furthermore, there are different types of legal paperwork that depend on what type of company you are planning to launch in the Netherlands, whether it is a subsidiary, a Dutch NV company, a partnership with a Dutch business, or starting entirely new as a Dutch business. For expert advisory, Intercompany Solutions is best to serve you!

Intercompany Solutions

Intercompany Solutions is a company based in the Netherlands that has a team of experts in accounting and law solely established for foreign clients to cater to business and successfully establish it with 100% legal paperwork, including company formation, Dutch BV and NV, and Taxation.

They gather all the details and information about your company, or about you, and through meetings, they form an inclusive plan for company formation to establish your business in the Netherlands.

Final Thoughts

Expanding or setting up a company in another country is a risk, but business is all about taking bold steps to gain success. Intercompany Solutions is your pathway to start your Dutch business today!

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Micro Financing Today: Financial Support or Money Pit

May 21, 2021

Today world’s diversity seems very intense – the number of people who live in poverty and incredibly rich people seem to live in rather different worlds. And people in poverty are learning how to escape this condition and try to find new things for themselves to start off a new life – here is where micro financing comes into the game.

To give a brief description – micro financing is targeted at those in desperate need of money, like unemployed people or people with a very low income, to help them start off a new business or life in a much lighter condition than the usual loan system. So, this is a way for people to actually have a try at a better life.

Creating a possibility for everyone to become successful and help maintain a certain level of stability in countries. It is a very interesting and rather modern form of creating a better society, where everyone gets a chance to become successful based on certain rules and pretty fair conditions – you will be given an opportunity to rise, and you will have to pay back for that once you are stable and financially ready.

Another side of it here, though, is that people often take on micro finance without having a certain plan or idea of what they can create or how they can make this money work for them in the future. And this problem can be applied not only to micro financing but as well money in general – many people get distracted with big sums, and it leads to some unexpected expenses, and they end up with nothing again. That is why it is important to learn how to cope with money and find a proper plan for how your microfinance money will be invested.

Benefiting From Micro Financing

Microfinance makes a lot of sense concerning certain social groups who are in need of help. The question that pops out here is a rather simple one but still that needs an explanation – what are the benefits for them and for other people as a society? Why do we need to have special loan technologies for people with low incomes or unemployed citizens when they can not guarantee that the credit they are given is going to be returned and justified.

And this question needs an explanation before we get into the explanation of how we all can benefit from it. Microfinance is, of course, not something you can get easily, and you won’t be given money for nothing. Every side of the deal understands their duties, and the agreements have to be followed as well from both sides; this seems rather easy.

And so, of course, there are examples of unsuccessful microfinance deals; however, if everything is done right and both of the sides are trustworthy enough, there are many benefits that lead out of this:

#1 Credit Opportunities for Everybody

A great thing about microfinance is the opportunity to give all people equal opportunities – because with credit score and banks not qualifying people for loans, it is much harder for people who are unemployed or have a difficult social situation to receive a loan when in reality loans are very important and can help start off a business or any other investment. Stabilizing the difference between different groups of people is very important these days. It is similar to 24/7 online payday loans Canada, which do not require some specific documentation of your credit history.

#2 Marginal Parts of Society Are Not Excluded

Again, micro financing exists especially for those who are in desperate need of money and whose situation seems to be rather hard. It is not only about the absence of money but also from a family where the person was born or maybe a nation that may be discriminated against in some countries – and to avoid all of this, micro financing helps find a successful way into society.

#3 A New Life for Everyone

By giving such an opportunity, it also creates a possibility for everyone to be equal and help us as a society evolve more and overcome these boundaries of marginality. For people in poverty in the past, it is an opportunity to become part of a successful economic entrepreneur and for businesses to have a wider range of competition on the market, as it helps the economy develop.

#4 Employment Question

As we all know, employment is very important for the economy and the greater the working force is, the better – and new businesses that might create can offer even more places for work for new people, and so it develops this way. First, microfinance is helping people, and then people become a significant part of the development.

#5 Learning How to Finance

With microfinance it is extremely important to know how to act with your money and how to treat it. Because you will have problems later if you won’t learn how to deal with money you were given and it is so much better to just use the opportunity you are given, and by learning how to treat money, more and more people will educate themselves in terms of financial literacy.

And the benefits go on, as the real advantages of microfinance are immaculate. However, we all understand that people usually don’t take it seriously or want to make a benefit only for themselves. But in a society of the future, it may be possible that all of us become a little more conscious about our money and a little less selfish when it comes to global things.

Because if we want to improve it is the job of everyone to do something to make it work. And you have to remember that every person is responsible for what is happening in the economy and things like that. So, by knowing why to do yourself, you will know you are working for the future.

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Debt Consolidation: How To Get Ahead Of Your Woes

May 20, 2021

Debts can pile up quickly, if left alone. There are ways to get around this, such as with a debt consolidation loan. Here’s how you can benefit.

The Basics Of How Debt Consolidation Works

Debt consolidation is where all of your debts are gathered together, such as credit card bills or other owed fees, and are made into one monthly payment. This helps people get a hold of their finances and understand what they’re paying, sometimes even lowering the overall payments.

This is done by taking out a loan from a provider, who pay off all your debts on your behalf, leaving you to repay them back. They will usually agree a set fixed time for you, over a period of a few years, that allows you to spread out the cost, bringing the monthly payment down.

When To Consolidate

If you’re falling behind in your debt and bills in general, and there seems to be no way to recover soon, then it could be time to consolidate. Assuming your total debt, excluding your mortgage payments, doesn’t go over 40% of your gross income, then your credit score will be high enough to qualify for a 0% interest credit card.

These 0% credit cards, alongside a debt consolidation loan plan, allow you to pay off debts sooner rather than later, and deal with just one monthly payment. When it comes to getting a debt consolidation loan, you should use a reputable lender who have a customer first approach, such as at The Home Loan Expert. They offer, alongside other plans, a mortgage debt consolidation loan that allows you to use the equity within your home to structure a new loan, allowing you to gain money to pay off debt, and decrease monthly mortgage payments.

When Not To Consolidate

Debt consolidation is not always the answer, even if you’re In debt. If your debt is a small amount with only a few different bills, then consolidation serves no purpose to you. If you can pay off the debt within the year, then it will be better for your credit to do so, and you may not even end up saving anything through a plan.

You can use a debt consolidation calculator to work out if it’s worth it for you. They look at how much you have to pay off monthly, alongside their interest rates, to estimate how much you could afford to pay off and restructure your loan.

What You Can Do To Protect Yourself In The Future

Once your debt has been paid off, and you’re on the road to recovery, you should ensure you keep up to date with payments in order to avoid slipping up again. Create your own plan to avoid debt, that is tailored for your own life, for example, budget everything you can. You should put money aside in a savings account to have emergency funds.

If you feel there is something you want, that you can’t afford without a credit card, then you probably should not buy it. A credit card is not your money outright. If you can’t pay off the credit within a few months, then it could lead to more financial trouble.

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