Start a New Company With This Easy Guide

Starting a small business of your own, especially if you do it online, is easy to do and can make you a good amount of money. Open up a niche shop in your area, and you might even be able to take it on in a full-time manner and succeed all on your own. The best part is that thanks to the power of the internet and the prevalence of online shopping, you can create this new business venture right at home.

Do Market Research

With every new company, you want to do your due diligence. For one, you want to know what the market is like, who your competition is, how to sell online, how to market yourself, and so on. It is also worthwhile to understand what your legal and financial obligations are before you get too carried away. You might not need to pay a special tax until after you have made money past a certain threshold, for example. In that case, you would only need to declare your profits as part of your income and pay tax as you usually would.

Create a Business Plan

Having all the information in the world won’t help you actually put a business together. That is why this next step is so important. Creating a business plan means creating a realistic strategy on how you plan to start, run, and succeed with your new company. You will need to use the information you have gleaned during your research to create a sound business model that will work logistically and bring in customers.

Save Up Money

When starting a side business the last thing that you want is to take out a loan. That being said, you absolutely do need to know where you can get a payday loan in case of emergency. Not knowing where to go to cover an emergency repair, like to your laptop, for example, could put your company down and out of business. Alternatively, having a personal emergency could result in your business funds being taken out, bankrupting your company in an instant. In these cases, it is best to take out payday loans or bad credit loans and try to pay them back as soon as possible.

Create Your Website and Marketing

With the money you have saved, you can then set up a professional looking website and acquire the necessary marketing tools. In some cases, you could forgo the website itself (for example, if you are planning on using a seller marketplace). Where your money would go instead then is in investing in a professional studio setup. If you sell products, you will want great looking photos that will both sell and show the customer the product itself from several angles. If you are selling a service, however, a great website will be your priority instead.

Build Up Your Reputation

Last but not least you will want to build your reputation. You can do this through excellent customer service, by engaging with your followers and community, and of course by collaborating with others in your niche. People are wary of buying from new sellers online because of the inherent risk, but by building up your name this way you can assure them of your professionalism and trust.

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Gold-Backed Digital Currency – Wall Street

What is Gold-Backed Digital Currency?

In the wake of the decline in the value of traditional crypto-assets, crypto believers are constantly on the lookout for new investment opportunities and innovative products that will enable them to continue to make a fortune. The fall of cryptocurrencies like bitcoin is often attributed to their price volatility as well as regulatory and application issues which erode investor and user confidence. With gold, there are no such concerns. For several years, gold has proven to be a durable, trustworthy, safe-haven asset and one of the most reliable ways to preserve wealth over the long term. This makes gold-backed cryptocurrency the perfect answer to the volatility seen in the crypto market, especially for those looking to secure financial stability.

Everything You Need to Know

Gold-backed digital currency is a form of stablecoin whose value is tied to that of gold. They combine the innovative capabilities of the blockchain technology with the relative stability of gold to provide a cushioning solution to the highly volatile cryptocurrency market.

To mitigate the challenges facing traditional cryptocurrencies and their extreme price swings, these assets are backed by physical gold through allocated or unallocated gold storage. Other than being pegged to gold, gold cryptocurrencies operate in a similar fashion to traditional cryptocurrencies like bitcoin.

How Gold-Backed Cryptocurrency Works

While each gold-backed cryptocurrency works differently, one universal principle binds them: they are all backed by a specific value of gold. As a result, the token being issued represents an amount of gold.

One popular cryptocurrency whose value is tied to the price of gold is OneGram. Each OneGram token is backed by one gram of physical gold, which help gives it stability.

What is the Difference Between Gold-Backed Cryptos and Other Digital Currency?

The primary difference between traditional cryptocurrency and that backed by gold is that while cryptocurrency initially attracts a small sum of money, gold-backed digital currency launch at a price determined by the market value of gold.

Because they are backed by gold, the value of gold-backed crypto assets does not fall below the price of gold. Often, gold-backed cryptocurrency commands a higher price than gold the more popular it is. The value of traditional cryptocurrency is determined through supply and demand as is the case for common stocks and is also affected by hype and perception.

Experts argue that perception is the primary driver of crypto prices. Other factors that affect the price of cryptocurrency include mining difficulty, energy usage, token utility, and investor behavior.

What Are the Popular Gold-Backed Digital Currencies?

Some of the most popular gold-backed digital currencies include:
  • OneGram (OGC)
  • AgAu
  • Airgead
  • Anthem Gold (AGLD)
  • AssetBase
  • AurumCoin (AU)
  • BullionCoin (XAAU)
  • Currensee (CUR)
  • Darico (DEC)
  • DinarDirham (DNC)
  • Flashmoni (OZG OZT)
  • Gold Bits Coin (GBC)
  • GoldMineCoin (GMC)
  • GOLDUSA (GOLD)
  • HelloGold (Goldx)
  • OZcoinGold (OzGLD)

How to Buy Gold-Backed Cryptocurrency

While the method of buying token might vary from one gold-backed digital currency to another, you’ll generally need enough of either bitcoin or ethereum to buy gold-backed cryptocurrency.

To buy any gold-backed digital currency, visit their site and follow the steps necessary to purchase the coin.

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8 Things Small Business Owners Need to Know About Finance

Figuring out how to manage finances is one of the most challenging things you’ll face as a small business owner. Often, people get into the business world because they have an exciting idea or product to share. The chances are that you won’t have a lot of experience with accounts, taxes and cash flow too.

While learning as much as you can about money matters can seem like an exhausting process at first, it’s something you can’t afford to overlook when you start bringing your company to life. Knowing these 8 simple things about finance will help to keep your organization on track.

1. Sometimes You’re Going to Need a Loan

When you first launch a business, sometimes it’s tempting to try and do everything by yourself. The last thing you want is to be in debt before you’ve ever started making a profit. However, the truth is that most people simply don’t have the capital required to handle the demands of a business without a little support. A loan can be the most useful tool you have when it comes to starting your business, and even overcoming cash flow problems. Just make sure that you compare your options so you can ensure you’re getting the best interest rates.

2. Have a Billing Strategy

No matter how good you are at staying on top of things like cashflow, there’s nothing to say that your clients will be just as efficient. Most companies will have at least one customer that always seems to be late when paying their bills. Too much cash tied up in your unpaid invoices can quickly lead to cash flow problems. With that in mind, it’s important to make sure that you have a billing strategy in place. The good news is that there are tools online you can use to automatically invoice clients and send them reminders when they’re late.

3. You Need to Pay Yourself

When you’re running a small business for the first time, you might find yourself trying to put everything you earn back into the company. Any extra capital is a great way to help your business grow, but you also need to look after yourself and your family too. Remember that you’re playing an important role in your company, and you deserve to get paid for your work. Don’t focus on everyone else and forget to look after yourself.

4. You Need to Spend Money to Make It

This phrase might sound like a cliché at first, but it’s true. If you want to make real progress in any industry, then you need to be willing to invest in yourself and your business. With that in mind, make sure that you take risks from time to time, and invest in your growth. This could mean that you need to take an extra loan out at some point so you can afford to buy additional equipment, materials, or pay for staff, but a good risk analysis will help you to see if it’s worth it in the long-term.

5. You Must Remember to Look at ROI

Speaking of investing in the long-term, it’s a good idea to have a way to track your return on investments. Every time you start pouring money into projects for your business, make sure that you set up a measurement system that will show you which of your strategies are good for your future, and which might not be worth the effort.

6. You Need to Constantly Monitor Your Books

Monitoring your books might be an obvious task for financial health in your business, but it’s something that people often forget that they need to do regularly. If you’re the kind of person who might leave managing cash flow to the end of the month, try setting up an hour in your schedule each day where you can look at your incoming and outgoing expenses and make some crucial notes. The last thing you want to do is neglect your accounts.

7. It Helps to Establish Good Habits

Make sure that you do everything you can to develop good financial habits – even if it just means that you block aside some time at the end of each week to check that everything is running smoothly in your business. Running a small business often leaves you strapped for time, but your financials aren’t something you can afford to cut corners on. Start building good habits for your finances now.

8. You May Need Help

Finally, don’t expect to become a professional accountant overnight just because you’ve decided that you want to run your own business. If you don’t know anything about taxes and deductions, and you don’t have time to learn, then invest in an accountant or bookkeeper to help you. You’ll thank yourself for it in the long-term.

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Revitalizing The Entrepreneur Spirit Within You

What Does it Take to Really Become a Successful Entrepreneur

Are you tired of feeling less creative and innovative? You have a chance to resurrect the entrepreneurship spirit in you. It is your attitude and approach to challenges, failures and successes that will bring change.

We are not born entrepreneurs. We become entrepreneurs through education and experiences. So, rise and shine, because when you become an entrepreneur you become a friend to the world. Entrepreneurs are important in our day to day living. Take for example, where would we be without the creative mind of Bill Gates?

Entrepreneurship spirit is not something we achieve overnight. It is a characteristic that develops in people who show passion for building something great from nothing. A person with an entrepreneurship spirit is able to push himself/herself beyond limits. Their ultimate goal regardless of the ups and downs is to become world’s biggest entrepreneurs.

First and foremost, here is how you can tell whether the entrepreneurship spirit in you is still alive;

  • Are you quick to execute?

Do you act on ideas or you are too scared to go out and try them out? Like the bible says, “Faith without action is dead”. You cannot wait for success to come knocking on your door without taking action. Whether for success or failure, an entrepreneur is not afraid of executing his/her ideas.

Those with entrepreneurship spirit are not afraid to lose. Nonetheless, they do not jump into things blindly. They play calculated moves but have in mind that success is not guaranteed.

  • Are you an optimistic individual?

Day in day out, an entrepreneur is optimistic by nature. As much as success is not guaranteed, they are always positive about their outcome. If you are seriously seeking to enter the world of entrepreneurship, you should be more optimistic than ever.

Regardless of whether they are running a small or big business, good entrepreneurs don’t compromise on quality. Imagine yourself as a paper and packaging dealer for a minute. Custom boxes, custom packaging, binders and folders would be your ideal products. As the entrepreneur you are, you would work to deliver on quality, right?

Business is all about making the customer happy and good quality products is one sure way to make the customer happy.

Do the four characteristics above reflect who you are? If not, then your entrepreneurship spirit needs to be activated as soon as possible. It’s the entrepreneurial spirit that will stir up the business person in you. Read below for ways on how to activate and maintain your entrepreneurship spirit.

  • Believe in yourself – before anything else, believe that you have what it takes. Stand behind your convictions and never lose hope. If you see yourself as a failure, you will never reach your goals. A positive mind makes a good business person.
  • Take action – step towards your goals, purpose and objectives with a positive mind. Whatever ideas you have, do not belittle them. You do not want to miss an opportunity just because you think your ideas are not worthy of trial.
  • Hire innovators – have a team of people who can take your business to the next level. A less innovative person will pull you back in regard to success. Hiring innovators will ensure that you are heading in the right direction.
  • Talk to other entrepreneurs within your field of expertise– whether as an individual or as a company, take time to listen to other people’s success stories. Believe it or not, their stories will motivate you.
  • Build confidence in your abilities and focus on your strengths rather than weaknesses. Pay more attention on what you can do and concentrate less on your incapability.
  • Be excited about what you do – even if your steps of reaching your goals are too slow, always feel good about yourself. As long as you are making steps, that’s a good thing no matter how small they are. Celebrate every achievement.
  • Treat clients’ needs with urgency – a good entrepreneur MUST deliver according to the clients expectations. Time is money, so if you have employees who are dragging their feet in matters pertaining the clients, let them go. They are bad for business.
  • Leave room for growth – as an entrepreneur, you should focus on growing your business. If your business is not recording any progress, then something is wrong.

Surround Yourself With Business Minded People

To become a successful entrepreneur you should have a head for business. Whether you have the money or not, your approach to life and business is what really matters. Basically, as an entrepreneur you will have to surround yourself with business minded people, right? That being said, you will have to hire a team of diligent, competent and optimistic employees.

The kind of team you have, will determine the places where your business goes. If you are aiming to scale higher heights, make sure you have employees who are ready to face the odds. Always remember that Success is earned.

ThePaperWorker is an online custom packaging business. If you are interested in good quality, high maintenance, stylish and durable custom boxes, custom folders and/or custom binders? Check out variety of these and much more on https://www.thepaperworker.com/custom-boxes/

 

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How to improve your personal finances using a checklist

Personal Finance Checklist

Revamping your entire financial plan may seem like a gigantic task, so it’s easy to become overwhelmed. But by breaking your fiscal dreams into smaller, more manageable goals you’ll be setting yourself up for success while gaining some confidence about your money-making decisions with each item you cross off. Making a checklist can by the key to getting your money – and long-term goals – in order. Here are a few examples of simple changes that can make a major impact.

Start small.

One of the biggest mistakes people make when they’re trying to make a substantial change in their life is focusing on objectives that aren’t easily attainable. This is an easy way to sabotage yourself, because the task seems so large you can’t possibly reach it. Think about restructuring your budget in the same way you would expect to start a diet or exercise plan. You wouldn’t expect to be able to run marathons within the first couple of weeks, so why would you hold your finances to a similar standard? Like with most goals, the little things add up. Instead of backlogging every purchase you’ve made in the last six months, start today by tracking all of your extra expenses such as movie nights, eating out, and entertainment-related costs like cable TV or your Netflix subscription. No detail is too small when it comes to money management and financial stability.

Streamline your payments.

Consolidating or organizing all of your bill payments is another simple task to add to your checklist. Determine the bills that you pay regularly, their frequency, amount, and whether or not they can be paid online. If possible, set up all bill payments to withdraw from your bank account automatically and keep track of your email or online confirmations. This can usually be done either through the servicer or your bank. By automating the process, you’ll reduce the amount of time you spend each month gathering paperwork and information. You’ll also simplify your own record keeping, since you should be able to locate most of your payments with just the click of your mouse. Even better, you won’t have to worry about accruing late fees since you know exactly when your account will be debited for each bill cycle.

Pay yourself first.

Having a comfortable savings account is one of the most important steps towards financial security. As part of your monthly, bi-weekly, or even quarterly checklist, send a portion of your paycheck to your savings account each time you get paid. Depending on your personal goals, income, and expenses this amount may vary. However, don’t underestimate how quickly even $10 or $20 per paycheck can add up over time. If possible, set up an automatic deposit so you’ll get used to receiving a lower amount. This is one line item that will give you a bit of satisfaction every time you check it off your list.

Keep your budget balanced.

Keeping your overall budget in order is usually one of the most daunting tasks, but breaking it up into smaller sections will make it a breeze to get through. Make a list of all income sources, everything you spend money on regularly, and for at least one month track all of your expenses to get an idea of how much you should allot for miscellaneous spending. Once you have your list, break the expenses into categories such as utilities, travel, housing, food, insurance, loan payments, and childcare. Your static expenses are those that are consistent for every pay period, and your flexible expenses are the less predictable ones such as car repairs or additional medical costs. Based on what you typically spend per month, you should be able to outline how much is needed to put towards extra expenses on top of your static ones. Being able to check off when each of these obligations are met will give you some peace of mind, and you won’t have to second guess whether you paid that bill or not.

Money Management for Retirement.

Money management is a huge part of most of our lives, and many of us have areas that we’d like to improve. Whether you’re saving for a dream vacation, college, or retirement, keeping track of your goals and when they are met is a valuable tool that you can use for all of your financial plans – no matter how big or small.

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Transferring Your Skills Into Income

 

Earning extra money on the side has rapidly become the mainstream whether through the gig economy, consulting, or side hustling. In fact, nearly four in 10 Americans have a side hustle, according to Bankrate.com. And while you could just do some odd jobs here and there to earn extra cash, you can take it a step further and transfer your skills and interests into sustainable, consistent income. The trick is figuring out your strengths and skills and identifying the right opportunities along the way. Here’s how to get started.

Play to Your Strengths

Just because your former colleague is making a killing at project management doesn’t mean it’s necessarily a good fit for you. Take an assessment of your strengths from organization to leadership and start brainstorming ways to transfer those skills into income. For example, someone highly skilled at marketing and promotion may be well suited to help online entrepreneurs launch their info products. Another idea is to walk budding business owners through the process of gaining organic promotion through outlets like Instagram. The more you can focus on your natural superpowers in business, the more likely you are to find the right work opportunities.

Research Opportunities that Fit Your Skills

Of course, making up a list of strengths doesn’t always reveal a clear path to income generation. This is where researching existing opportunities from franchises to direct sales businesses comes in. Consider where your skills and strengths lie. If you’re skilled at sales and networking, selling products could be a perfect fit. Meanwhile, a passion for creating healthy snacks and smoothies while running your own team could lead to a franchise opportunity. It’s always wise to really research the validity of those companies — from Amway to Smoothie King — to find the best fit. Always look for proven business models with a track record for success that fits your schedule and lifestyle.

Keep it Flexible

It can take some time to match up the right skills with an ideal opportunity. While you launch that side business selling products to consumers to flex your entrepreneurial sales muscles, look for new ways to improve your business skills along the way. Take online classes or courses at community centers and stay flexible to new ideas and interests. You might discover that your interest in sales pairs well with your interest in healthy living and teaching others about the products you love to use.

Shadow a Mentor

Partnering with a mentor is also a powerful way to identify your skills and find a path to income. Ask a former colleague, supervisor, or someone in your community to help you on your journey. Make sure to choose someone who has proven success in areas you’re interested in. Try meeting once or twice a month and working through your ideas and questions. Your mentor can help identify how your skills in bookkeeping or copywriting can directly lead to opening your own business or consulting on the side. From there, you can work with a mentor to figure out how to fill in the gaps from start to finish.

Ask Your Network

Your own network has valuable insights to your skills and strengths. Meeting up for a coffee date with a friend or colleague and asking for help in identifying your skills and brainstorming income opportunities can spark new ideas. You may discover that you never thought much about your ability to come up with ideas quickly and how small businesses would value that skill in marketing and advertising.

Your skills are valuable with the potential to make real money, but it can take a little detective work to put all of the pieces together. Start by playing to your strengths and researching proven business ideas and models to help put money in your pocket.

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Tips to Keep Your E-Commerce Sales Hot This Holiday Season

7 Must Try Tips to Keep Your E-Commerce Sales Hot This Holiday Season

The holiday countdown has just begun and as the festive mood gathers momentum, people start going on the shopping binge. The soaring number of people opting for online shopping in holidays is simply incredible. This is the great opportunity for e-commerce companies to boost their sales.

If you are eying for making most of this shopping season rage, you might as well get prepared to attract your prospects toward your online storefront. Make this season celebrations a win-win manifesto for you and your customers. However, the reality is you are not alone in this shopping carnival; your competitors must also be strategizing to take full advantage of this. So how are you planning to increase your online sales?

Here are some great tips for you:

1: Make sure your site is ready with holiday theme

Your website and its landing page are very crucial points of contact with your customers. Give them the reason that you are equally excited about welcoming as well as serving them. Spruce up the look and feel of your store so that people take you seriously and that you mean business when it comes to advertising your products. Being in the same holiday spirit as your customers are will encourage them to shop with you. During holidays, customers expect that you have something unique and enchanting holiday collection products for them that can provide a good value for their money. You need to focus on visual design and aesthetics according to the coming festival, for example, Black Friday, Christmas, New Year. You can use small, simple festive elements with a campaign that can attract families.

2.Provide a great mobile experience

With a precipitous growth in mobile devices in recent years, online shopping has reached to unprecedented levels. Smartphones and tablets are the biggest drivers of e-commerce today. In light of this, holiday season will witness an added effect for e-commerce traffic from mobile devices. So your website should be highly mobile responsive, for you need to engage more with mobile users. An Econsultancy report throws light on the importance of growing mobile experience. The report says, 62% companies with a mobile responsive website see an increase in their sales as compared to companies with desktop-only websites. A seamless mobile experience will provide a frictionless and easy way for your customers to make purchases.

3. Reduce cart abandonment by giving discounts and offers

Cart abandonment is one of the most annoying things you might come across on your site. Even if your products are resonating with your buyers, but you have no idea what stopped them from making the purchase. This is the high time to figure it out and respond to it immediately. You need to consider whether the checkout process is confusing, or the cost of shipping is discouraging for them.

To prevent the abandonment from happening, ensure that your shipping costs are transparent throughout the buying journey of the customers. Forcing your customers to create an account could be counterproductive because it makes the purchase process longer. Just make your checkout process short and seamless. It is also true that most of the customers visiting your store for the first time don’t make purchase. But you can lure them back by giving discounts and sending festive sales offers to their selected items.

4. Create holiday themed content

Holiday season is the time for sharing and caring, so spread some euphoria with holiday-themed content. The content specially curated for holiday would be a perfect way to add a festive touch to your messaging. On the other side, customers appreciate when they see brands are putting efforts to add holiday fun and joy to their marketing communications. A study by Infogroup found that emails featuring Black Friday themed content generated a 33% higher conversion rate than business as usual (BAU) messages. There are many ways to leverage themed content. One of the effective ways is to host an online photo submission contest, where customers can show off their creativity and have some fun together. Another way to engage your customers is by posting holiday decorating tips, or how-to videos to celebrate different festivals.

5. Provide fast and free shipping

Nothing can give your customers an instant gratification than offering them same-day deliveries at their doorsteps. This is the one area in which brick-and-mortar stores have a distinct advantage over online stores. In fact, instant delivery is one of the topmost reasons why people still live to shop at physical stores. Therefore if you convince your prospects to provide a lightning fast delivery, they’ll shop more at your site especially during the holiday season. Another way of keeping up your sales momentum is to offer free shipping to your prospects. Shipping costs are among the top reasons why customers abandon the cart because they essentially want to save money that is spent while physically going somewhere for shopping. So keeping in mind the holiday season competition, free shipping will keep your floating. If you don’t offer free delivery while your competitors do, your sales are at risk!

 

6.Hassle-free return policy

You need to incorporate a hassle-free return policy for your customers if in case they don’t find a product fit for their needs. This is how customer experience works. An excellent customer experience is very important for generating e-commerce sales. If customers get a sense that you care for their benefits as well then they will keep coming to your store. A 2016 consumer survey from Shippo, a shipping application-programming-interface firm, found that 87% of respondents believed that free returns were an important part of their ecommerce buying decision. Thus, the more hassle free your return policy is, the more secure shoppers will feel when making a purchase from your online store. If the return rates are higher for your store, you can give more info about the product as possible, including lots of product shots, and detailed product descriptions. This will help customers better arrive at a conclusion whether to buy the product or not.

7. Use social media ads to engage prospects

Social media advertising is an effective way to target audiences on specific networks through demographic information so targeted consumers can see your brand in their feeds. The way social media is becoming popular among masses, no business owner can undermine its significance for generating sales, especially during holiday season. For example, Facebook can be used to engage with prospects who have been liking your products for a long time but haven’t yet purchased any of them. Optimizing your Facebook ad campaigns will truly engage your most important leads. Another platform to leverage at this instant is Instagram. Visual content is not only treated more favourably on Instagram algorithm, but it’s also more likely to be shared and remembered than written content. Also you need to factor in the relevancy of your ads. If they aren’t relevant to your audience, you are wasting your time.

 

Final Words

With the arrival of festive holiday season, people start flocking to offline as well online stores. Since majority of people are shopping from the comfort of their cosy homes, e-commerce stores have a lot to offer to them. You have to strategize your plans and make smart moves so that you can clinch last minutes sales.

 

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MoneyGram is on the Decline

MoneyGram International, Inc goes by the ticker MGI on the NASDAQ GS. At the time of writing (November 2018), MoneyGram stock was priced at approximately $4.40 per share. For the year-to-date, MoneyGram stock has declined from $12.28 per share, shedding almost $8 in 2018. The company’s market capitalisation is currently $245.46 million with no price/earnings ratio and a -0.56 earnings per share. The 1-year target estimate price for MoneyGram is $6.25. It is noteworthy that MoneyGram traded as high as $15.54 over the past 52 weeks, indicating that there has been a significant downgrading of investor confidence and performance in this stock.

 

MoneyGram International Inc is a money transfer service with HQ in Dallas, Texas. It offers international money transfer services with locations all over the world. According to Zacks Investment Research, MoneyGram stock is no longer the darling of investors in the money transfer services industry. There were several reasons why the stock capitulated, notably fundamental weaknesses in its money transfer business which comprises a substantial source of the company’s overall revenues. More importantly, MoneyGram faces a slew of challenges from up-and-coming start-ups, online money transfer services and other FinTech operations. At a time where the industry was growing at a rate of 6%, MoneyGram was plunging in double digits.

 

2018 has seen many online money transfer companies come into their own. The volatility of the FX market is but one of several reasons why MoneyGram transfers are losing market share. Governments around the world are placing increasingly stringent regulations on money transfer services, and pricing pressures have come home to bite. Besides for increasing costs of compliance vis-a-vis governance structures and regulations, MoneyGram is having to shelve out millions of dollars which is eating into its bottom line with sharply decreasing growth prospects. Overall, lower remittance rates have resulted in weakness in many Middle Eastern markets for MoneyGram, notably Saudi Arabia. In Africa, MoneyGram has suffered from decreased market share when Nigeria reduced the permitted allotment to just 50% of what it previously was. As a result, stock prices are generally weak and market share is slacking.

 

How Are Competitors Eating into MoneyGram’s Market Share?

International money transfer companies like World First and HiFX are starting to dominate the online money transfer industry in a big way. They are but two of many FinTech operations now coming into their own. When it comes to money transfer companies, a growing number of people are choosing these money transfer companies over established banks and financial institutions.

 

Analysts are of the opinion that MoneyGram is losing market share to these up-and-coming online money transfer service companies. According to International Money Transfers – a leading reviewer of money transfer services – HiFX/WorldFirst comparison charts present many interesting facts and figures, notably:

 

  • World First is a privately-owned enterprise (operating since 2004) with offices across 5 continents. It features 75,000 active clients, and growing. This online money transfer service currently offers 121 currencies, with no fees on transfers, except for small transfers which cost $10.
  • HiFX is owned by Euronet, and is headquartered in London, UK. While this money transfer services company does not offer as many currencies – 5 dozen pairs offered, it accepts clients from across Australia and Europe. The fee is £9 per transfer, and it’s fully regulated by the FOC, FMA, and FCA.

 

There are pros and cons to each of these services, notably that WorldFirst does not offer FX options and is markedly smaller than HiFX. From the other side, HiFX lacks transparency on rates, and is a little clunky in terms of registration. There are mixed reviews on the services offered by HiFX and WorldFirst, but the majority of customer feedback has been positive.

These companies are proving to be a thorn in the side of market giant MoneyGram. As more clients shift to WorldFirst and HiFX, the drip, drip from MoneyGram becomes a slow and steady trickle to alternative online money transfer services.

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Payday Loan Improvement: Has Regulation Truly Made A Difference

Payday Short Term Loans That Make Sense

Payday Loans were created to ease the financial pressure that workers face before they receive their pay cheques at the end of the month. The short term loan would be paid directly into the worker’s bank account before they were expected to repay in full, with interest, when they eventually received their pay. The type of loan came under much scrutiny, with critics citing that it made it too easy for a vulnerable person to ‘over borrow’ and therefore, face long term financial hardship. It was as a result of this condemnation, that a series of laws were introduced in an attempt to regulate payday loans.

We’re going to explore those very laws and examine whether the regulation made a difference.

Which Regulation Was Introduced?

The Financial Conduct Authority (FCA) was the organisation responsible for the regulation introduced into the payday loan market.

The first action the FCA took was to introduce a cap on interest rates charged on loans, which were frozen at 0.8% per day the amount borrowed. There was also another condition added, that no borrower should have to pay back more than twice the amount of their original loan.

They also regulated and reduced the fees that payday lenders could charge for arranging a loan, as well as introducing a cap on the borrower default fee, meaning that if a borrower failed to meet the conditions of their loan, they could only be charged a maximum of £15.

The FCA’s final ruling was that each payday lender had to list their loan rates on at least one price comparison site to prove their legitimacy, as well as improving competition and price transparency within the market.

Did The Regulation Make A Difference?

These interventions went a long way to making the payday lender industry far more legitimate; however there is still room for improvement which was detailed in a report published by Citizens Advice.

They found that after the caps and regulation were introduced, that borrowers were far less likely to find themselves in extreme financial difficulty, provided that they communicate to their borrowers that they were having trouble repaying their payday loan.

The 44% of borrowers who were experiencing difficulty in paying back their loans, but actually spoke to their lender, managed to agree a more affordable alternative repayment plan.

This statistic illustrates two points; the first is that lenders are more than happy to provide alternative options for borrowers provided that they tell them they are experiencing problems. The second, however, is that more than half of borrowers are unwilling to voice their concerns regarding repayments, due to the fact they perhaps feel embarrassed or ashamed at their inability to repay their loan.

Therefore, while payday lenders have clearly improved their methods for making loans easier to repay, work can still to be done in regards to the line of communication between lender and borrower.

Ultimately, it’s clear that the payday loan industry has evidently improved after regulation, however it’s still not perfect, and things can still be done to better the industry for both lenders and borrowers.

 

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Invest Into Real Estate Market with Smart Tips

Prabhadevi In Mumbai

Prabhadevi is one of the exotic locations in Mumbai. It is small fashionable Southern vicinity in Mumbai, which connects the Arabian Sea in the West, Shivaji Park Residential Zone in the North and Worli in South. It is linked up nearing to markets, schools, railway station, bus stand and showrooms. A leading signpost is Lord

A Lot of Night Life To See And More

Things to Consider before Investing in the Real Estate Market

# Check your budget

First thing to consider is to understand if you can really afford this investment of property deals in Mumbai. Investing into Mumbai real estate is a costly option for which you have to estimate your budget. Obviously, you can seek loan for investment yet you will have to really think if you can repay the loan on time. Remember, it is a big obligation and so you have to decide on properly before laying your hands at it.

# Make a complete study on the property

Although Prabhadevi is a good choice to invest, yet you should make a complete study about the investment. This goes well for every property you purchase. Prabhadevi real estate guide will help you to know about.

  • Prices of the homes
  • Condition of the property
  • Neighborhood
  • Tax Laws
  • Real Estate Opportunities,etc.

Being aware of all the issues, your investment will not turn out to be flop. The more information you can gather, the better your real estate investments will be.

# Begin with small investment for low risk

Do you want to invest big to sell and purchase properties quickly? If yes, then ward off your idea simply. This is not at all right when investing into the real estate market. If you look at the successful investors, they start with small investment. Afterwards they sell suchproperties at profitable rates after living for some time and then renovating the property. Therefore, you can follow the same path. The other alternative is purchasing one of the luxury apartments Prabhadevihaving tenants and rent further. These low-risk investments might not seem to you exciting,but can be the way to acquiring wealth. Additionally, low-risk investments will have no fear of landing you into debt.

# Make your investment a business

Complete by formulating a business plan. Successful investors in their life have run investments as a business. They formulate a proper plan to assist them in the process. Even they establish goals for businesses than simply making money from the properties. More professionalism you maintain, the possibility to get success from your investment will be higher.

# Consult a real estate company

Another consideration point is looking for a reputable real estate company. While selecting a company, check for its goodwill in the market and knowledge about the property you want to purchase. For example: if you desire to buy a 2/3 BHK Prabhadevi location then you should make sure they give you complete details about it. A good real estate company as can help you in the process in every way.

 

 

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