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Tips for Starting an eBay Business

Tips for Starting an eBay Business
While it is a platform that has been around for many years since the internet started to take off in popularity, eBay continues to be a hugely profitable and useful place to do business. However, there are plenty of other people who have realised exactly the same thing, so you need to be on top of your game to ensure that you stand out from the crowd. Here are a few tips that you can put into practice: Decide What to Sell It may seem like a very obvious starting point, but it is certainly worth mentioning nevertheless. You need to have a clear idea of what you are actually going to be selling in the first place. Obviously, you need a product that works for you – one that you can easily source and ideally know something about. Don’t forget about logistics here. You need to think about where you are going to be placing the product and consider eBay shipping at Shiply as well. Also, check out if there are any restrictions regarding what you can actually sell online. If you are stuck for items to sell, it is worth researching popular products online. You may well find that there is something out there that proves to strike you well. Set Up Your Store Account The store account is going to be the hub of your business, so not only do you need to ensure that it is properly set up and established, but you should also make sure that you know about all the ins and outs of how it works from a technical standpoint. There are plenty of different packages here, so you need to work out which ones suit you the best. Remember, you want this to be right from the start as people are going to start leaving reviews, and you want to get your scores up as high as possible right from the offset. Make the Business Official The business also needs to be official from a legal standpoint as well. This means that you need to check out the legal structure and work out which one is most appropriate for your company. For example, whether you have the sole proprietorship, partnership, limited liability company, etc. Again, it is worth checking out the ins and outs of what each and every one of these actually mean. Start Selling Now the time has come to start selling your goods on eBay. You should take a moment to understand the fees that you are going to be expected to cover, as well as determining the payment method that you are going to accept from your buyers. You can then create your seller account and your listings. Everything needs to be priced accordingly, and it is a good idea to check out what sort of competition is out there. There you have a few top tips that will hopefully start off your eBay selling journey in the best possible manner and put you on the route to...
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The Main Benefits of Outsourcing Your Accounting Function

The Main Benefits of Outsourcing Your Accounting Function
Outsourcing has become increasingly popular over the last few decades as companies have realised that delegating a variety of business operations to a third-party provider can give them a number of benefits. Indeed, outsourcing your business operations can provide you with a number of benefits, especially in relation to your accounting functions while you should also understand that a variety of third-party providers are available on the market. This is especially pertinent if you are starting up a company and you do not have the relevant accounting experience to carry out this particular management function of your business. In addition, you should also be aware that accounting is essential so that you can generate profitability as well as reduce your operating costs. However, if you are unaware about how to go about the process of outsourcing your accounting function, you should think about consulting an online business directory as you will be able to identify a number of providers that you can contact. 1. Increase your profits One of the main benefits that your business could enjoy by outsourcing your accounting function is that you can increase your profitability. Indeed, outsourcing allows you to spend your resources on the important core business operations so that you can generate more profit. This is definitely an advantage if you are looking for an outsourcing provider, such as Acclime, that can give you the highest quality accounting services in Vietnam. It is also important to understand that you can minimise your risk as well as ensure your financial statements are prepared correctly. This is especially pertinent if you do not have the in-house accounting knowledge while making sure your financial statements are correct at all times is imperative if you want to be legally compliant at all times. 2. Reduce your operating costs Furthermore, you should also be aware that outsourcing a particular business function can allow you to reduce your operating costs. Indeed, by outsourcing your accounting function, you will not have to pay salaries or other recruitment expenses to hire qualified and experienced accounting personnel. As a result, you can focus on your core operations if you are just starting out in business, instead of the support functions that are required for you to carry out your business. 3. Improve your decision making process Finally, you should be aware that if you are looking to outsource your accounting function, you can improve your decision making process. Indeed, this is especially important if you hire an experienced and professional third-party provider as they will be able to provide you with information pertaining to your accounts as soon as possible. This can allow you to improve your decision making process as well as yield reliable information so that you can make better decisions in a short amount of time. Increase profitsReduce costsImprove decision makingThe Main Benefits of Outsourcing Accounting Function Therefore, in conclusion, if you are a business owner and you are looking to increase your profitability as well as reduce your operating costs and improve your decision making process, you should consider outsourcing your accounting function to a third-party provider as soon as...
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Why Outsource Your Accounting?

Why Outsource Your Accounting?
Outsourcing is a trend that’s on the rise for a good reason — it works! Almost two-thirds of all businesses outsource some of their positions and processes, and many more are sure to join in soon. You can outsource anything, from marketing to property management, and there are huge benefits to it. Accounting can take a lot of your time and be extremely stressful, but if you outsource it, you can focus on what you do best and leave the pros to deal with the boring stuff. Here are some of the major benefits of outsourcing your accounting. It Can Be Cost-Effective It may seem at first that hiring an in-house team could pay off in the long run, but the truth is quite the opposite. Apart from their regular salaries, there are many expenses you need to account for, such as training, benefits, accounting software and suitable hardware, as well as office supplies, and more. You could train some of your other staff to do accounting, but if they are not sufficiently competent, their mistakes could cost you even more. So enlisting the services of an external accounting provider might prove to make the most financial sense. What’s more, you may not even require their services all the time, but rather call them as needed. It Can Improve Your Operational Efficiency If you have to allocate hours of your busy day to dealing with payroll, bills, and other issues, that can slow down your progress significantly. Instead of running a business and focusing on your main responsibilities, you have to deal with equally important but menial tasks that you could delegate to someone else. However, if you don’t have an accounting team, you would have to burden one of your employees with these tasks, even though you could have used them for something more relevant. The point is, no one in your company has to deal with financial records, invoicing, and similar tasks. If you outsource them, you and your team can focus on your day-to-day operations freely and without hindrances. You Get to Work With Experts in the Field One of the main advantages of hiring an outsourced provider is the fact that you get expert help. You are likely to end up working with an accounting agency, which specializes in all things accounting related, unlike your team. The accountants you hire will have extensive knowledge and experience in what they do, and you can even find someone who specializes in your particular industry. These professionals always strive to improve so that they can offer the most reliable services possible. Moreover, they will make sure to keep track of any potential changes in the law that could affect you in any way. This can be particularly beneficial when it comes to tax benefits and similar issues. You Get Access to Top-Notch Accounting Resources Just like you try to always keep up with the trends in your area of expertise, so do accounting agencies. If you have an in-house accountant, chances are they’ll be stuck working with the same old program for years, without ever updating and missing out on many innovations. An accounting agency wants to stay on top of their game, so naturally, they will make sure to follow the latest industry trends and thus increase their efficiency. That means that your financial information will be analyzed and operated in the most state-of-the-art accounting software. You don’t have to think about updating your hardware or software; your outsourced provider will take care of that. You Don’t Have to Worry About the Security of Your Records You may be surprised to learn that trusted employees all over...
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Is Car Leasing the Best Choice for Your Business?

Is Car Leasing the Best Choice for Your Business?
Maybe you are just starting your business and choosing a new car for it. Perhaps your company is so big that it needs multiple vehicles, requiring a fleet management company for your business. The same question arises – is it better to lease or to buy the cars you need? Both options have their benefits, but there are many things to consider before making a choice. These include tax implications, financial commitment, and also the question of ownership. Let us look at all of these elements that can be deciding factors when choosing between buying or leasing a car for your company’s needs. What is car leasing? Business car leasing is a form of a financial agreement between a business and a finance company where the business owner can essentially rent a vehicle for an extended period. This can be anywhere from one to five years, depending on the contract. When the lease term is complete, the lessee may either purchase the car or return it. Advantages of leasing a company car Lower costs and maintenance When choosing the option to lease, your monthly payments are typically lower than they would be if you were buying a car. For a relatively low initial fee, followed by regular monthly payments, you get all of the benefits of running a brand-new vehicle. This includes the full manufacturer’s warranty cover, which typically lasts for two to five years. Taxes Leasing can be an attractive option because many businesses can claim back part, or all, of the VAT. Exact figures depend on the VAT scheme that your company falls under but as a general rule, companies can claim back 50 percent of the VAT if a car is used for private and business purposes. Also, you don’t have to pay any up-front sales tax because you’re not purchasing the vehicle. Flexibility At the end of the lease, you usually get to choose between purchasing the vehicle outright, refinancing, or simply handing it back. Cons of car leasing Mileage limit When you lease a car, there will be a limit on how many miles you’ll be permitted to drive throughout the lease. If you were to exceed that limit, you would face fees that can be pretty hefty. Driving limitations Since you will have been the one to sign the lease agreement, only you would be permitted to drive that vehicle. While that doesn’t sound so bad, it may complicate business matters if you’re not around to operate the car. Ownership While the lease lasts, you do not own the vehicle. This means you won’t be able to sell it if the times get tough or do even smaller things like making modifications. Pros of buying a car Car as a business asset A vehicle that you buy becomes an asset. Because of that, you can decide to sell or trade it at any time. You are not tied into running the vehicle for a specific period as you are with leasing. Long-term investment Buying a car is a substantial investment. But, the longer you own the vehicle, the lower your long-term cost. Fewer limitations You can sell your vehicle anytime you want to or make modifications to the car. Also, you are not bound to a mileage limit. Downsides of buying a car for business Higher initial costs If you choose to buy a car for business, you’ll typically pay higher up-front costs because you’ll owe sales tax, title fees, etc. Also, our monthly loan payments will probably be higher than the lease payments. Deprecation Your car starts losing value as soon as it leaves the forecourt. A new car will have lost...
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7 Reasons Why a Financial Advisor is Important for Business

7 Reasons Why a Financial Advisor is Important for Business
Planning is essential when you are beginning a new chapter of your life. Most people don’t start their journey without a proper plan. It is unusual to create something without seeking advice and taking appropriate steps beforehand. Many people question themselves, “Do I need a Financial Advisor for my business?”. To make money work for you, you need a prudent financial advisor by your side. A financial advisor helps you in building a road map to achieve your financial goals and also makes your contingency fund for any unforeseen needs that may arise. Let us first discuss who is a financial advisor and what is the importance of financial advisor. A financial advisor has the expertise of making the most of your initial financial investments in the business. They assess the viability of your business model and outline strategies for your path to profitability. Below are the ten reasons why a financial advisor is important and how they can ensure, accelerate and improve your business successes. Managing Cash Flow If you don’t realize how your monthly business revenue is spent, then you need to manage your finances better. There can be days with high cash flow and days with low cash flow. Many people fail to understand the variations like these and experience a cash shortage; this is the reason why a financial advisor is important. With a sound financial expert, you can maintain a budget to ensure the proper running of a business. Structured funding may help you to avoid consequences. Investments If you are unsure of your investments, then it’s high time for you to put your portfolio in order. Many people invest randomly without undertaking proper research on financial products. Also, investing in an ad-hoc manner leaves your investments challenging to track. With an appropriate financial advisor, these investments could be realigned to meet your financial needs. The right kind of assets can also be a constant source of cash flow to your business.  Finding the Right Asset A friendly and warm ‘cushion’ in the form of assets is desirable for everyone. You need to understand that most purchases come with liabilities attached. So, it is more important to determine the value of your assets. The knowledge of selling or cancelling the liabilities help improve your chances of matching the cash you have to avoid debts with minimal turbulence. A suitable asset allocation through a financial expert acts as a shield to protect from market volatility. Insurance In case of any future mishappenings in terms of business, the right amount of insurance can be a financial boon. You can claim the insurance amount to make sure your business is safe and smooth. Here is the reason why a financial advisor is influential because they will take into account your business enterprises, income, expenses and other goals to protect your liabilities, assets and finances. Setting Smart Financial Goals It’s not just the present that matters, future planning is also essential. Lack of careful financial planning might hinder the accomplishment of the financial goals set for your business. So, the importance of a financial advisor on executing the financial plan drawn is followed vigilantly and religiously to make your business a success. Savings It is good to invest regularly and wisely with high liquidity. Investing small amounts proves light on your wallet and reduces the burden of sudden financial changes defraying a considerable amount to throw you off track. These investments can be utilized in meeting financial goals and investing in the right investment avenues.   Ongoing Advice It is best to establish a long-term relationship with a financial advisor you can trust to meet the financial needs of...
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