<span>Monthly Archives</span><h1>September 2019</h1>
    Small Business

    Are There Insurances Specially Tailored For Small Businesses?

    September 27, 2019

    Small businesses are different from big companies because a big company can stand a claim or demand and even if it had to pay an important amount, they are prepared to do so. Small businesses on the other hand, would not be able to afford a liability claim if lost without proper insurance coverage. Therefore, the answer is yes. Not only there are insurances specially made for small businesses but it is also advisable to get them as soon as a business is running smoothly.

    Unfortunately there are many different coverage for small businesses and you need to make sure that whichever product you select includes all that you need to protect and be protected against. It is therefore important for you to have a thorough understanding of small business insurance clauses and to also know what your businesses needs are in terms of insurance protection. It is not the same to own an office than to rent, to have personnel or be on your own, etc.

    What Are Insurances For Small Businesses?

    Insurances for small businesses are protections against damage that provide coverage for company’s assets and also for liability. Therefore if any damage is done to a building that belongs to the company, goods, work material, electronic devices, furniture and many other equipment, the insurance policy will reimburse the costs of replacing such things.

    But it will also protect the company from any damages caused by the company’s assets or employees to other employees or third parties. This is called liability protection and includes all the aforementioned equipment and the risks that their manipulation implies along with other risks that a reasonable use of the company’s assets implies. Furthermore, many other types of liability can be included in small business insurance like legal claims from employees, third parties, providers, clients, etc.

    What Types Of Small Business Insurance Exist?

    There are basically two ways of presenting a small business insurance: A single policy that works like a package covering different kinds of risks or the company owner may choose to use different policies to provide extensive coverage for specific risks. Therefore, there will be different insurance policies for employees (life, health, disability, accident, etc), for the company’s assets (fire, floods, other natural disasters), specific car insurance for the company’s vehicles, etc.

    The choice between a package policy and separate insurances belongs to the company’s owner and depends on the structure of the company and how small the business is. For bigger companies, it is advisable to obtain separate insurances specially tailored to meet the company’s needs rather than having a single insurance package with multiple coverage and generic terms that may be too vague at the time of filling a claim.

    Focusing On Liability

    Liability is probably the most important part of a small business insurance. When a person, whether it is an employee, customer, other company’s employee, etc. suffers an accident within the boundaries of the company or when people or goods are damaged and the company is responsible for it, the consequences of a legal liability demand can be terrible for a small business and can even lead to bankruptcy. Therefore, proper coverage of liability is essential and a conscious owner should focus on this coverage when purchasing small business insurance.

    Small Business

    Alternative Financing And Application Of Working Capital In Business

    September 27, 2019

    Alternative financing refers to non-traditional forms of supplying a business with sources of capital. Business owners usually turn to alternative financing when they do not have three years worth of gainful financial statements or do not have enough equity. There are many different sources to look to when a business needs additional funding.

    One source is a private investor who contributes a significant amount of money without having to deal with a financial institution. However, the investor usually requests to be involved with business decisions and profits in return for his or her financial assistance.

    A partner within the company is another source of alternative financing. Creating a partnership means an individual splits the cost of running the business alone, but must also be willing to allow the other person to take part in decisions and profits. Unlike dealing with a private investor, a partner would maintain long-term interest in the business and not be focused solely on a return.

    Alternative financing also includes different types of loans or leases. Securing a contract for to work from a company that a business owner has done business with before makes banks more liable to issue loans according to the expected profit. An individual can also lease vehicles and equipment. Most leasing agencies do not require as much profitable history as other financial institutions do, so it they are an easier way to build capital.

    The application of working capital in business generally refers to the statement that tracks available funds for a business. Also called the Source and Application of Funds Statement or the Cash Flow Statement, the application of working capital tracks the sources of a business’s money and how that money was spent in a particular period of time. It consists of two sections: the Source and the Application.

    The Source of the application of working capital shows the resources used to accumulate funds for a business. These sources can be loans, investments, and payments made to the business. The Application tracks how the money was spent. Common applications of working capital in business are payments for rentals or loans and the purchase of assets. In order to maintain a profit, a business’s sources must be greater than its applications of working capital.

    Business owners use the application of working capital to analyze the financial stability of their company. A steady decline in working capital usually means the owner needs to reevaluate the financial management of the business in order to avoid future losses and company failure. Investors, creditors, shareholders, and banks also look at the application of working capital to determine if a business is worth the risk of investing. A company that maintains steady working capital is more appealing because there is less risk of loss. Potential investors see that the business owner efficiently manages his or her finances.

    Small Business

    Small businesses need flexibility

    September 27, 2019

    In the teeth of a recession, small businesses have particular problems. Sole traders will either sink or swim and if the business goes down then only the owner loses a livelihood. But small businesses employing staff have to consider the effect of reduced volume of trade on their ability to pay their employees and remain viable. In small companies the management of human resources is less efficient in terms of numbers than it is in larger ones. Also, making employees redundant from a small workforce can have a huge impact on resourcing and the time and effort expended on this gives you less time to concentrate on core business and trying to keep your company profitable.

    If you are looking for efficiencies both in terms of time and costs, you could consider outsourcing payroll services to an agency. Most small companies struggle to afford directly employed payroll staff and often have no human resources function to feed into this. Outsourcing to a payroll company transfers the burden of responsibility and provides expertise and support whenever it is needed. Where a company is at the threshold of expansion, savings could be made by outsourcing that will allow the business to move ahead and at the same time build in flexibility so that if a recession hits or a significant client unexpectedly moves business elsewhere, changes can be made with minimal disruption and at minimal cost to the business.

    Moorepay are specialists in small business payroll, providing flexible and individual solutions to clients across the UK. We are a BACS accredited bureau that can offer a range of small business payroll solutions including basic managed payroll and online software which has been developed specifically for companies with up to 25 employees. If you are concerned about affordability, fear not – we are happy to provide a free payroll services quotation without obligation.

    Marketing & Advertising

    Leaflet distribution – An effective way to market your goods and services

    September 23, 2019

    Among so many contemporary methods of marketing, leaflet distribution has not lost its impact. It is still one of cost effective and prominent ways to reach target audience. With this method, a company can have complete control over the marketing of products.

    While considering direct marketing, consider various flyer distribution options. If a major part of your advertising budget is getting used in this type of marketing, it is important to choose the service carefully. A lot of companies are using direct marketing methods and gaining benefits with the right blend. If you pick the right services for your door drop marketing, you can enjoy bigger client base.

    Choose an appropriate flyer delivery service and relish instant results of your campaign. Sales of your company can accelerate instantly with the launch of such an advertising campaign. By using this method of marketing, you can easily promote your company without exceeding your advertising budget. Money can be saved furthermore with in house printing and designing of these flyers.

    Unlike flyer distribution, other marketing techniques need preparation and planning for months. So flyer distribution method lets you save a lot of money. It provides you with a simple way to promote your business in lesser time. First hand feedback of the clients can be obtained too. The company can easily identify the strengths and weaknesses by directly getting in touch with the target audience. Direct feedbacks can help the company improve on its shortcomings.

    Leaflet delivery is proved to generate referrals and word of mouth which is an added advantage in promotion of a company. The efficiency of this type of direct marketing leaves a lasting impact on prospective clients. You can conveniently persuade them to indulge in services and goods of your company. Use this proficient means of marketing and rule the hearts of your clients.

    Marketing & Advertising

    Let your customers lead your organization – empower your customers

    September 23, 2019

    Marketing communication agency is the primary strategy in the marketing field of any business. It helps to empower your customers through which you can increase your sales.

    For empowering your customers try to provide them with distant information than you are presently doing, allow them in making decisions about you and your company along with your resources, give them as many choice as you can, give them the insight of control and let them feel that they are running your organization.

    The revenue from the customers will be increased based on the relationship you build with the existing customers. To build a good relationship with your customers the only form of communication that helps you best is interactive communication.Since interactive communication helps you to have constant discussions with your customers and your scenario, make habitual interactive conversations accessible where they can discuss not only regarding your products and services but also about the core of your company. Hence this will add power to your market than just putting your advertisement on TV or anywhere else.

    The problems with the present system are clear. The challenges that are given to both marketing and advertising come from the institutional dimensions largely. Removing the old models from the equation will lead to disappearance of the problems created due to lack of sales etc.

    In marketing communications you should first go with the fundamentals. The fundamental one is the general type of content. It is very critical and possibly most overlooked. More than ever, content is the ruler. Internet has become the principal research tool for finding any product and services, so a lack of content will result in lack of visibility. You will not be considered or not even found if you don’t have clear, updated, relevant, valuable, and searchable content on your site.. If your site lacks from content you cannot be saved just with the advanced graphics and interactive features.

    Marketing & Advertising

    The Worldwide Online Ad Spending Continuous To Drop

    September 23, 2019

    The worldwide online adverting market dropped by five percent in Q2 of 2009 when compared to corresponding period in 2008, according to market research company IDC. The total online ad spending in Q2 of 2009 is $13.9 billion dropped from $14.7 billion in Q2 of 2008. Among the online advertising categories such as online ads, display ads and classifieds, search ads are the least affected.

    The vital region for the global market was US online advertising market that dropped 7 percent during Q2 year over year. The US online ad market is now worth $6.2 billion in Q2 of 2009, while it was $6.6 billion in the corresponding period last year. The only region that remained positive globally was Asia/Pacific and Japan with slight gains.

    The effect of economic crisis on various online advertising like social media, mobile ads and display ads are as follows:
    • Advertisers are shifting their ad budgets from digital media to most proven traditional Medias such as television ads, newspaper ads.
    • The search advertising became a dominant player in the entire Internet advertising. It captured one-third of all annual online ad spending worldwide despite global economic downturn.
    • Display ads will be the next largest tool in online advertising. It is expected to capture 20 percent of all annual ads spending worldwide by 2011, followed by Classified ads with 19 percent.

    The factors that support online ad spending:
    • Improved ad budgets
    • High cost for advertising in other medias
    • More companies are including Internet advertising as a part of their total advertising campaign
    • Ad budgets tilt from other medias to Internet

    Mobile Internet ad spending will increase $2 billion by 2014 from $500 million in 2009, according to Juniper Research. The main reason behind this is, the growth driven by new markets such as China and India where fixed line Internet access is less. The growing mobile Internet access across the globe irrespective of the economies is likely to fuel the further growth of online ad spending.

    However, Internet advertising received only a small portion of marketing budgets in the current season, it is expected to improve in the coming years. In a similar report, GroupM predicts that if the worldwide ad spending reaches to $58.17 billion by the end of 2009, online advertising will be 13.2 percent of total ad spending and it will further increase up to 14.6 percent in 2010.

    Because of the global economic crisis, marketers decreased ad budgets to advertise on new social networking. The impact of economic crisis on online advertising industry specifically and the advertising industry overall is expected to continue in 2010 as well. In this period, the traditional media advertising is most likely to be affected than online advertising.

    Marketing & Advertising

    Use professional brand ambassadors to promote your brand or product

    September 23, 2019

    Promotional staffing agencies or an event marketing agency will hire brand ambassadors. Their purpose is to give away free samples, brochures, greet customers, give out marketing resources, host a booth, give surveys to consumers, hand out flyers, etc… They are also called as Promotional Models or Promo Models.

    There are several types of brand ambassador jobs to work. They include Sampling Promotions, for Street Team Promotions, for Guerilla Marketing Promotions, for Greeting Promotions, for Tradeshow Promotions, for Data Collection Promotions, for Survey Taking Promotions and Product Demonstrations.

    A brand ambassador is the only person who directly interacts with the customers. Their main purpose is to drive customer demand for a service, concept, product or brand. The person can be a male or female with an attractive physical appearance. The will try to attract the customers to approve your product by providing information of your product or service. Though the interaction time is short he or she will try to deliver a live experience that will reflect on the product he is representing.

    Though, this form of marketing strategy will influence only fewer consumers when compared to traditional media, like television etc. however it will result in a better perception of the customers on your product, company, brand or service due to live face to face experience. The impact of this will last for a longer time also. They often try to interact with more people at once in order to maximize quantitative influence on customer demand. The responsibility of a brand ambassador will certainly depend on the specific marketing campaign that he is doing. This include increasing awareness of your product, providing information regarding the product, creating a connection in the customers mind between the product or the brand and a particular idea such as classic heritage, reliability and handing things to consumers, such as a sample of the item itself, a small gift as a souvenir, or printed information.

    Marketing campaigns use promotional models take place mostly in stores, shopping malls, at tradeshows, particular promotional events, or even at public spaces. They are often planned at heavy traffic locations to arrive at as many customers as possible, at which a target consumer is estimated to be present.

    Marketing & Advertising

    Business Advertising – Helping you to stay ahead of aggressive competition

    September 23, 2019

    Advertising is a promotional activity which is often geared up and put for the whole purpose of deriving sales revenue. Major objective of such promotion is to enlighten and motivate prospective customers to buy service or product. Major types of advertising include print advertising, radio advertising, television advertising, airport advertising and other types of outdoor advertising.

    Many individuals may censure advertising or take as too intrusive or overbearing, but the fact is that it does work. Think, if advertising promotion was not really helpful, then advertising industry would not have been a market worth billions of dollars.

    Types of business advertising

    Before settling on what kind of promotion technique is apt, it is really imperative for a firm to define audience it wishes to target. Demographic details such as education, gender, income level and age help classify targeted audience. Placing messages in promotional venues concentrating on particular demographic or group is known as ‘target marketing’ and is also vital for effective advertising.

    Print advertising which is done on print mediums such as newspapers, brochures and magazines, permits the company’s message to grab attention of targeted audience on page. Magazines may include images and articles doomed to lure any particular category of client.

    Radio advertising and television advertising come under the category of broadcast promotion and conventional forms of such advertisement techniques are commercials exhibited mostly before movie or during any television show. Product placement ads have also become popular these days to publicize a particular product or brand. When one sees someone in movie or TV show utilizing a particular brand, it is called covert advertising or product placement.

    Scrolling and pop up ads are other fine examples of promotion while pay per click method, also known as sponsored links, refers to companies paying in order to get their websites ranked higher on search engine results.

    As far as outdoor advertising is concerned, it incorporates different kinds of publicity displays, from high-way billboards to transportation posters and showground placement, all intended towards conveying a specific message to common masses. These messages may be to vote for politician, take trip, purchase a product, or other charity purposes.

    An airport retains a positive setting where individuals have sufficient time and often are approachable to various new impressions. In this setting, advertising can really work tremendously and act as an effective media channel. So, airport advertising is really an efficient way if one wants to get optimal business or specific product exposure.

    Marketing & Advertising

    Promotional Marketing

    September 23, 2019

    Promotional marketing term is used to describe the various means of communicating with the target audience and prospective ones. It is one of the key elements in marketing mix, which helps a company to create awareness of its products and services to gain a better ROI.

    The main purpose of marketing it to inform, persuade and influence. As stated a campaign should deliver the right kind of information at the right time at the right place in a convincing manner that would influence the customer to purchase a product or a service. This is most commonly referred as an AIDA – Attention, Interest, Desire and Action.

    Before arriving at the correct promotional marketing mix for your small business, take time to carefully plan the incentives and objectives. There are several parameters to consider

    • Are you planning to collect leads to gain a larger customer base? Determine the base for promotion.

    • Identify who is your target customers for your promotional campaigns and try to analyze the purchase habits of your target customers.

    • As there are many incentive types such as sweepstakes, sampling or coupons etc, so decide which one would best suit your business.

    • The main things that need to consider is budget allocation. Choose the best advertisement campaign such as mail, in store or direct mail etc which would helps to minimize your budget.

    • Decide whether to run the promotional campaigns on your own or to hire professional promotional agency. Both the ways have got their own set backs.

    • Clear goals as to be set to measure the success of the promotional campaigns.

    • Promotional marketing incentives should obey with the law of federation.

    A bad promotional marketing might do some irreparable damages to products and overall reputation of the company.

    Ultimately, even a message might get through wherein the consumers end up guessing that the brand is not good enough for their needs. This type of situation could be avoided by a better promotional staffing that tends to generate the promotional staff with a sense to carry the message and brand image effectively.

    Marketing & Advertising

    Achieving The Balance In Your Business Greeting Cards

    September 19, 2019

    Probably you know by now that business greeting cards are totally different from your usual print greeting cards for a holiday or a special occasion. First and foremost, the tone that business greeting cards project is somewhat formal and professional as compared to holiday greeting cards which have a lighter and more personal nature. Hence, it is not proper to infuse a very personal tone to your business greeting cards to the point of being perceived as odd by your recipient. You would not want to put in something very comfortable and casual as it may not have the effect you intend to achieve.

    It is therefore crucial that you learn how to write for print greeting cards that are produced to make and maintain business. You ought to know how to appropriately address your client through this medium. This article will thus help you write for business greeting cards. Read on and learn how to essentially be cordial but professional.

    The first thing to remember when writing for these print greeting cards is to be formal yet somehow informal. Now that balance may sound a little hard to achieve. Apparently, print greeting cards are more effective when they are made more personal, but with business greeting cards, you cannot just address or treat your client on a very personal note. You run the risk of being misinterpreted. Therefore, it is important that you master the balance between formality and personal touch. For instance, do not address your client by his/her first name; use titles instead such as Mr. or Miss or Atty. or Dr. And then add their last names. It is crucial as well to do research about your clients to know how they should be addressed. By doing so, you do not appear too formal and personal at the same time. At least you did not use the usual and oh-too-generic “Dear Sir/Ma’am”. This approach is worth mastering though, but with proper research, you will do just fine.

    The second thing you need to remember in your business greeting cards is to be polite and respectful. This is standard practice, as you may already know. Use a tone that makes your client feel they are above you and you are ever ready to serve them. This is a good feeling that clients love experiencing because it makes them feel more special and in control. In so doing, you let people further respond affirmatively to your print greeting cards.

    Another thing you should keep in mind is to be always discreet or subtle with your advertisements in your business greeting cards. Do not make your clients feel that you sent them a card just to advertise or sell something. Once you do this, expect people to consider your cards as junk mail that should be instantly discarded. So as much as possible, restrain your sales talk and just exert your efforts in establishing good rapport with your client. For instance, you can mention that you have just launched your newest product but do not go any further than that.

    I hope all these simple tips will help you in writing your business greeting cards and properly addressing your clients and colleagues. Just make sure you learn to balance professionalism and personal treatment so your recipients will find you respectful at the same time warm. Also, focus on reinforcing good relations with your clients rather than obviously shoving your product to them. That is how you make your print greeting cards more effective for business.