Business Archives - Page 29 of 47

Dubai Business – What’s Happening Now?

It took no one by surprise when Dubai’s boom bubble burst just after the global recession kicked into full gear. The real estate and construction industries, which were among Dubai’s primary economic contributors for several years, suddenly found themselves in a dire situation. Businesses went bankrupt and expatriates were quick to leave before things became unbearable.

But, that was in 2008 and early 2009. How is Dubai’s business environment now? Are investors still looking for the silver lining in this gray cloud? Can the remaining entrepreneurs still make it work? What would you do if it were you who had a business in Dubai?

Let’s take some very interesting facts into consideration, before we go creating opinions and deducing.

1. Dubai is still the biggest trading port connecting the world’s East and West.

While some industries went crashing down, the trading sector in Dubai never waived in its strength. Between the early months of 2008 and mid 2009, trading was the same as it was during the booming years. Many investors from countries such as Japan, Kuwait, India, Singapore, Germany and Spain continued to apply for new trading licenses in Dubai. Have they suffered during the recession? Apparently not, because the contribution from the trading sector in 2009 has far exceeded expectations.

2. Professional practices in Dubai are still going strong

Doctors, lawyers, business consultants and IT service providers in Dubai are still earning a good income and maintaining their earlier lifestyles with ease. Some professions, such as marketing consultants, have suffered because people are no longer able to afford high advertising costs, but the overall picture here is a very positive one indeed.

3. Dubai offshore companies are in very high demand

Since the new Swiss regulations came into place earlier this year, the Dubai free zone company formations have increased. This is mostly because of the tax-free status and the 100% repatriation scheme upon business liquidation. Offshore companies in Dubai are mostly setup in Jebel Ali Free Zone and Ras Al Khaimah (RAK) Free Zone, but with new free zones such as Dubai Silicon Oasis, Jumeira Lake Towers and Dubai Investment Park coming into the limelight, the sky is the limit for investors who are looking for the best deal.

Considering the extremely positive outlook provided by the earlier points, it’s easy to understand that Dubai is rising up just in time. The government has changed rules and regulations, making it easier for investors to settle down in Dubai for as long as they need. With the new Dubai Metro public commuting system now in place and the low crime rate still intact, Dubai is now back among global economic giants. So, for all you eager investors out there, here’s a recommendation – start a business in Dubai. You won’t regret it.

A Compaq Guide About Business Setup in Dubai

Dubai is the one of the fastest growing business hub with the state of the art facilities available for local and international business. Dubai is an integral part of business world and is leading with innovation. Dubai is politically stable and has strong economic culture and government of Dubai offer friendly business regulations which attracts the investors from around the world. This article will provide you a Compaq guide regarding business setup in Dubai. Before you start your business in a unbeaten economy like Dubai first you need to under the culture of it. Dubai being an international city is a multi-cultural city, people from all around the world are present in Dubai. After familiarizing yourself with the cultural you must learn about the rules and regulations and kind of the business you can start.

Legal structure of business setup in Dubai is according to UAE Federal Law No. 8 of 1984, and after the amendment in Federal Law No. 13 of 1988 – the Commercial Companies Law, and its by-laws regulate the function of foreign business in Dubai, United Arab Emirates. In wide terms the requirements of these regulations are: The Federal Law requires a total local equity of not less than 51% in any commercial business and describes seven categories of business organizations which can be established in the UAE. This regulation explains the requirements in terms of shareholders, directors, minimum capital requirements and business incorporation processes. This law further lays down the requirements of governing conversion, merger and dissolution of companies and businesses.

In Dubai, you are given plenty of opportunities; you get benefits of best economy based on strong administrative foundations. Authorities of Dubai have divided the city in different economic jurisdictions. You can start different types of businesses in Dubai bases on type of business and location; types are divided in three main categories which are Mainland, Free Zones and Offshore. Another thing to remember is that Dubai welcomes foreign investment but there are rules and regulations that must be followed. In order for you to enter in Dubai, UAE you need to have sponsor, a sponsor will take your responsibility. Importance of a sponsor can be determined by the fact that for any purpose if it is business or you are just visiting you must have a sponsor. When it comes to start a business in Dubai you are require having a sponsor, any kind of business needs a sponsor or service agent. In mainland a local resident or a of United Arab Emirates based company act as a sponsor, for professional service you need service agent as sponsor and for setting up a free zone business you also need a sponsor, in this case free zone acts as your sponsor.

Business setup in Dubai mainland requires you to have a valid license issued by the administrative authority. The name of the authority is Dubai Economic Development (DED); it is a government agency responsible for issuing the business licenses. Renewal of the license, cancellation and up-gradation are also handled by Dubai Economic Development (DED). To ease the investors Dubai Economic Development (DED) operates for different localities, thought scrutiny process of the application is strict but department ensures the quick application processing. In Dubai mainland, Dubai Economic Development (DED) issues four types of licenses, commercial, professional service, Branch office and industrial license.

To setup your business in Dubai mainland under commercial license you are by law mandated to have the help from local UAE resident which is also called local sponsor. Local sponsor is by law hold the 51% shares of your business and you will hold only 49% of shares. However you are given full administrative rights. You can draw contracts with local sponsor and allocate a yearly fee for being a sponsor. Local sponsor sometimes work as silent partners. Local sponsor can be an individual or it can be a UAE based company or group.

However, if you are setting up a business which involve professional services you don’t need to have a local sponsor, in that case you only need a service agent. Service agent works on your behalf and helps you deal with the local administrative authorities to start your business. You are allowed to hold 100% of your professional business and service agent will only be paid once for the service he offered.

Free zones are special economic zones in Dubai which are specially designed to attract the foreign investment. Free zone based business are fully owned by the investor and there are plenty of options to choose with. Every free zone in Dubai has a governing authority or free zone authority. For business setup in Dubai you would need deal with the free zone authority. You may be asked by the authority to provide different legal documents before you finally give the go ahead in form of license by that authority.

Free zone offers different attractive options for foreign investors such as you are given 100% of ownership of your business. There are many options free of tax you can avail like no personal income tax, corporate tax exemptions. There are different types of business setup options in Dubai free zones like you can start of your business enterprise as a limited liability company or service provider organizations, there are different licensing options. Business setups in free zones are allowed to perform international trades. When time comes you can easily wind your business. There is less paper work involved when it comes to end your business from a free zone.

Offshore is another type of business setup offered in Dubai and has been very famous. Offshore means a business entity setup outside of the resident country in an offshore jurisdiction. Dubai offshore jurisdiction provides number of benefits to your business in terms of asset protection, tax optimization and business expansion. Businesses setup in Dubai offshore jurisdiction must abide the offshore companies rules and regulations and is not allowed to trade inside the offshore jurisdiction.

To sum up, after making decision with the kind of business you are willing to start in Dubai you need to deal with the concerned authority. The best way is to hire a professional help. You will be able to find number of consulting firms who are willing to help you deal with the paper work and the authorities. You will be asked by regulating authorities to provide different documents and submit paper work.

Here are few steps you may follow, first of all do research and decide the type of business you are willing to embark, choose jurisdiction and follow through. It is recommended to get the help from a professional when it comes to business setup in Dubai. Ready your paper work for the licensing and get a guide on licensing terms and conditions as there are certain activities you are allowed and certain activities you are not allowed to perform. There are license you can choose which allows multiple business activities.

Basic Steps to Set Up a Business in Dubai

Are you thinking of starting your business in Dubai? Congratulations, you have chosen one of the best business ecosystems in the world for your new endeavor. Dubai is more than mere a city of architectural marvels- it is one of the most fertile grounds for new businesses. This is just one of the many things that make the commercial capital of UAE the best place to live and work. And as for starting up a business here, there’s no question that there’s a lot of potential to be tapped here in Dubai. So, if you are eager to set up your own enterprise, this article will help explain what you need to know and do to get your company registered and off the ground.

We have equipped this article with necessary links to guide you about the process and documentation required. Take a good look at the below before you kick off the actual process- the good news, though, is that on average, if you are ready with all required documents, it takes less than 10 days to start your company in Dubai. So, let’s start!

But before you start your legal formalities, you need to consider some elements required in the process:

Know your business

The success of a great business venture depends on sound knowledge of the local region, thorough research into the viability and demand for your product or service and a credible business plan that is likely to attract investment partners.

Yes you have a great idea, but is there a demand for what you are offering? What does your competition look like and what puts your business offering a notch above the others?

Select a Location that optimizes suitability, convenience, and costsAnother important step in planning a business startup in Dubai is to determine the most suitable location for the business. Setting up a profit-based enterprise in the city wouldn’t do you much good despite the growing economy if you’re customers or clients can’t reach you.You need to set up your business in an area that is most profitable for your business or most convenient to your business. A location in the right city can be selected for a shop or an office is most known for the type of product or service you are dealing with.

If you are planning a Free Zone company then you must make the selection based upon the criteria of distance, costs and if it is suitable for your product, business model, and trade requirements.

A tenancy contract must be concluded. If you’re aiming to start a small-scale enterprise, then the basic amenities, like telecommunication, storage, and space inside the establishment is the basic concern that must also be satisfied. Other services available in the commercial property can vary greatly.

Financial viability

Once you business is registered, the Ministry of Commerce will require owners to show proof of financial investment. If you are new to the region and have no track record, you must be prepared to find your own financial resources through your bank or by other means rather than relying on local support.

Once you have established the validity of your concept, from a marketability stand point as well as financial viability, you can now look at the steps for turning your idea into a booming business.

UAE Commercial Companies Law and Federal Law define seven basic categories of business organization that can be established in Dubai and the UAE. The requirements for minimum capital levels, shareholders and procedures for incorporation will vary with the type of business structure.

Changes to Foreign Ownership and Visa Rules Announcement

Anyone coming into the UAE as a professional or as an investor is typically granted a residence visa of two years, which is renewable. This has now been changed to a ten-year visa for investors and professionals in highly skilled fields such as engineering, medicine and science. Students will be given a special five-year visa, while those who consistently perform well and earn top grades will be granted a ten-year visa as well.

Another very significant change is in the ownership of companies.Businesses within the UAE are divided into two main categories: mainland businesses and freezone businesses.

At present, mainland businesses can be partially owned by expatriate entrepreneurs, but must have a UAE national as a majority shareholder in the company. Freezone companies, on the other hand, can have full foreign ownership and are subject to separate regulations depending on the freezone.

With the new regulations, every business, whether mainland or freezone, will be able to have 100% foreign ownership without the need for an Emirati partner.

Confirm your Visa eligibility and requirement

For a business startup in the UAE, a visa permitting you and employees to live in UAE is essential to run your business.

Visas are allowed for almost all businesses.

However, their number varies according to a variety of criteria such as the size of the office, nature of the business, the category of the employee or the investor.

Documents Required for LLC

Investor’s passport copy

Local Sponsor’s passport copy

Manager’s Passport copy

Registration application form from Economic Department

Trade name reservation

Initial approval from Economic Department Tenancy contract for the Office/warehouse or showroom attested by planning department and civil defence department of Dubai municipality along with location plan.

Memorandum of Association duly attested from public notary.

Documents Required for Professional firms

Parent Business formation certificate duly attested from the UAE embassy in the home country of the parent organisation.

Board resolution for establishing a branch and to appoint the manager for the same

Attested copy(from UAE Embassy) of organisation memorandum / articles of association

Financial statements for the last two years

Local service agency agreement duly notarised in the UAE courts

Passport copy of the local service agent

Passport copy of the Manager

Company profile

NOC letter in favour of the Manager from the sponsor, if he is a resident of the UAE

Company Registration in Dubai, UAE

Businesses of any category operating in the UAE must have a license for registering into the business network of the country. Company registration in UAE requires a trade license and permission from different law enforcement agencies and the state government for setting up your business. Company registration in Dubai for businesses like financial services, food, health services, printing and publishing requires a lot more clearance than any other business.

Company registration in UAE falls into following three categories depending on the nature of your business:

Company Registration in Dubai, UAECommercial License – This license is issued to those companies who are just looking for trading business activities.

Industrial License – This license is for those companies who will engage in manufacturing or other industrial activities.

Professional License – This license is issued specifically for different service providers, artisans, craftsmen and other professionals.

For the company registration in Dubai, the Department of Economic Development (DED) of UAE issues the required licenses.

Get a License Notification

There are many complex requirements associated with the issuing of the business license. The company registration in Dubai for financial services must need the approval of the Central Bank of UAE. The license for the manufacturing companies requires approval from Industry ministry of UAE. Similarly, the medical service providers require approval from the Health Ministry of UAE.Once the necessary documents are obtained and formalized, the initial application process will begin at the relevant issuing authority along with registering the company’s formal name. This crucial stage paves the way for clarification of the final fees and the final acceptance of the company’s proposed activities.

Hire a registration agent to take you through the process of business startup

Hiring a business advisory firm to register your business startup may be your best option.

These consultants will not only hold your hand right through the setup process but will also actually register the company for you. And will help with opening your bank account, arrange for an auditor, do your renewals and offer you nominee services.

You may find their expertise in dealing with the local government bureaucracy and with Free Zone Authorities to be of great help in planning and itemize your business startup costs.

In most cases, these firms offer a team of experts to plan out your company registration from scratch – this includes the strategies you need to follow in order to smoothly set up your business, itemizing potential costs, offering licensing and location options, coming up with solutions for potential business hurdles, and so on.

Also, they will take care of all the necessary requirements to help you to have your business registered legally with minimal problems on your end.

If you are looking for trading in any of these industries in Dubai or any other, then we can give you the best advice for your company registration in UAE. For more details visit: http://www.namaccountants.com/ or Contact us: 971-558876440

4 Reason Why SEO Important For Your Business?

Business owners will often hear about SEO (Search Engine Optimization) and how it is one of the most important marketing techniques a business can use as it looks to make a mark in the niche. See MOZ for beginner’s guide to SEO

Well, there are many reasons for its importance, and it’s best to understand this as soon as possible why SEO important for business.

Here are some of the key reasons for why SEO is a must and should be used as a marketing tactic while pursuing new leads.

4 Reason Why SEO Important For Business?

1) Higher Conversion Rate
The conversion rate you are progressing towards will always matter because you are aiming to focus on the bottom line. Those who aren’t focusing on the bottom line will be the ones who are going to struggle the most. A company, such as Blue Corona, has dozens of clients with website conversion rates that exceed 15%!

Think about this and then use SEO to earn more in a shorter period.

Most businesses will spend a lot of money to hit specific conversion numbers, but those aren’t enough at the best of times. Focus in on this and look at going with a solution that is to the point and won’t create issues.

2) Free Leads
You will want free leads and what better way to do this than to go with SEO? It is going to be a real game changer for you and is going to make life easier as you hope to progress.

Those who aren’t getting free leads will hate the direction they’re going in, and that will never work out as intended.

It is best to use SEO and progress with the help of leads that aren’t costing a penny. Even those who decide to hire an SEO company will come out on top because the ranking is going to stay for a long time and leads will continue to come in on a regular basis.

3) Targeted Leads
The third reason is knowing you are going to get meaningful leads rather than random customers who won’t buy or won’t be interested in what you are saying. Lead-generation

This is a real issue with other options and isn’t something you want in your life as a business owner.

Go with a solution such as SEO so you can get those targeted leads. When you are getting leads that are interested, you are not going to sell as hard, and that means more money is there to be made.

4) Builds Brand Credibility
A business is going to struggle if people aren’t aware of it, and that can happen for those who aren’t using SEO. The main thing to look at is building brand credibility through a proven marketing option such as this one. It will help bolster the business and its online presence.

Short-term results aren’t worth it at the best of times, so losing focus on why SEO helps is the reason people struggle.

Building the brand is one of the best things a person can do, and it is a good starting point for any business. Look into SEO and notice how your target audience will begin to recognize the name and all that it has to offer. See HubSpot for a 6-Step Brand Build to Grow Your Business on a Budget outline.

Finding a quality agency is too all important to increasing your brand. Incompetent agencies will hurt your brand and take your money. So it’s imperative that you seek out a quality company, such as Excited Links SEO, and digital marketing agency.

As A Summary Of Why SEO Important For Business
These are the main reasons why SEO remains an important cog in the marketing machine for business owners who are looking to take the next step. Yes, marketing isn’t easy, and many wrinkles come along with it, but one of the finest options up your sleeve will come in the form of search engine optimization.

Don’t toss this away and ignore it because there is value to be had for those who want to maximize their options and get more out of it.

Look into this and ensure you are on the right path. Now you understand why SEO important for business?

Well, if you wish to learn more on SEO or wish to perform search engine optimization on your own website, you can follow my comprehensive SEO checklist, it is not difficult as you imagine.

Tools To Consider Buying For Your Woodworking Business

Starting a home based wood working business will require a plan. This plan should show you to get through the initial startup in a cost-effective and timely many. Part of this plan should also include a list of tools you will need to help make your home based business profitable as soon as possible.

Some of these tools can either be cordless or corded. The cordless type will be portable in that they can be used anywhere. Cordless tools will not require an electrical outlet except when the batteries need to be recharged. It should be noted operating cordless tools in a cold environment will mean the batteries having to be recharged more often. You will have to recharge the batteries in a warm environment to speed up the charging process. Using corded tools will be less expensive to purchased and will operate in colder environments more efficiently.

Some tools you need to consider to purchase during the start-up of your wood working business are many. They can be or cordless or corded. Many will require no power put just your muscle power. Here are some to consider.

1. Hand Held Circular Saw and Chop Saw.

This is hand tool that can used to cut wood and is very portable in both cordless and corded versions. Circular saws are also used to cut masonry and metal. These types of saws are often called shop saws and use special circular blades that cut through these materials. When using a chop saw get the proper training to do so and use proper personal protective equipment such protective eye ware and gloves. Not properly using such a tool can lead extreme personal injury.

You likely will never need a chop saw in you woodworking business. However a hand-held circular saw will be useful and are very safe to operate.

2. Impact Driver

These are high torque tools that can often do the work of the common more effectively with regards to speed of getting the job done. These are very popular tools used the construction industry. Carpenters, plumbers and electricians prefer the impact driver over the drill driver. However there will a number of applications the drill driver will be more useful especially if need to use the hammer drill setting of drill driver.

3. Reciprocating Saw

This tool is another portable tool that can be used to cut through wood or metal with the proper blade. The cutting action is accomplished by a push and pull action or the reciprocating action of the blade. Proper use of this tool is required as serious personal injury can result. Always remove the battery when changing the blade on such a device. If the tool is corded always unplug the device when changing the blade or making any other changes to the devices. before handing over the device to another person use its locking feature.

Starting up a wood working business will require the purchase of a number of tools Choosing a proven wood working plan should contain a list of the tools needed to help you start profiting with few problems and in a timely manner.

Best Regards

Setting Up a Textile Business: A Success Story

22 years ago, when Joseph Rotich resigned as an Information Technology manager, who would have thought that he would one day own a multi-million textile company in Eldoret, Kenya. “Square Deals Uniforms Limited”, the company that has grown over the years to such a level that it can now compete with the top entrepreneurs of the region, is estimated to be worth Sh30 million.

Leader’s vision is one of the most essential qualities that could be attributed for a success in business and entrepreneurship. If there is a sentence that could sum up Rotich’s vision, it is this one of his quotes:

“We have to monitor each other and change the quality of the product to suit customers’ needs otherwise you will be left behind if you don’t adapt in business.”

When an entrepreneur starts talking about setting up a business, the first question he is asked, is: “Where did you get the inspiration to start this business?” Let’s read further and learn the answer to “what was the inspiration behind Rotich’s endeavor?”

Following back the chain of events that led to the formation of the leading industry–known for its designs and supplies of finished uniforms to schools, factories and hospitals as per the order–to the dream that began in 1970s, Rotich got the idea of textile industry from his father who was running a flourishing tailoring business those days.

While reading about his success for the first time, at this point I was wondering why things aren’t adding up? How could a man with the dream to start a textile industry, suddenly change his mind and move on to pursue a career in IT. Rotich puts it this way: “Though I had yearned for tailoring, I decided to take up an IT course but in my mind I knew I would come and start a textile industry.”

In 1981, he got employed at Revatex as an IT manager, after serving the company for five years, he started his own boutique. With a will to strengthen her husband’s small business, his wife, who was a textile tailoring lecturer at a university, resigned from her job and joined him soon after. Rotich explains it as: “Since she was an expert in tailoring, she considered strengthening the business and she had to resign to assist me. The pay for lecturers by that time was also little.”

In 1989, Kenya Industrial Estate funded the expansion of industry and facilitated the purchase of more machines. The industry that started as a boutique with 20 sewing machines, now has more than 50 sewing machines, with over 70 employees. Rotich proudly states: “I started with a small network of clientele as per their order but, now my sales volume has increased even reaching customers in Nairobi.”

According to Rotich, perseverance and passion are the key qualities of a successful entrepreneur. He wants people to learn from his experience if they want to make a significant contribution toward driving Kenya to prosperity and success.

If there’s anything else other than the spirit and attitude of an entrepreneur that could be held responsible for his success, it’s the potential that particular business/industry holds. Textile business is very profitable as there are a lot of options to explore and exploit to one’s benefit. Rotich’s success story tells us that starting a textile business requires careful preparations and proficiency of relevant knowledge and skills. If you are seriously thinking about it, you need to decide how much investment you could make, you need to look for a feasible location and make yourself aware of the prevailing competition in that particular region. Following paragraphs are going to pour some more light on some of the things that need to be considered before you set up your own textile business.

Looking for a feasible location involves looking for a place that has got enough space for the required machinery and labor and making sure that the location being chosen satisfies the ventilation requirements of the textile industry. Without ventilation, toxic materials involved in the processing of fiber and dust from the fibers may cause pollution and may damage the health of workers. For storage of textile rolls, storage space is required, you should make sure whether the place has enough storage space. While you make deal with the owners of that location, don’t forget to ask them about the lease terms they can offer and that what utilities are covered in the same deal.

If you want to generate big income and huge profit, start at a location with less competition. Seek the advice from other business owners with the experience of working in the same industry. While you do that, make sure that you seek the guidance of entrepreneurs and competitors outside your region.

While investing for the equipment, look for the suppliers that offer good price as well as reliability. Make sure that they offer solid warranties and are capable enough to supply troubleshooting and maintenance facility in case of equipment failure or break down. In order to prevent a situation where you run out of all the budget, plan beforehand and while you do that, take into account all the equipment maintenance costs, operating costs for at least one year, labor cost, and etc.

No business is free of risks, so is the case of textile business. While Rotich’s success story presents textile business as a profitable venture, it may prove to be a very bad experience for someone who is unaware of the risks involved. Starting a business with not enough funds to invest is like digging your grave with your own hands. One of the options that may be considered in such circumstances is that of franchising; it allows you to work under the security and stability of a known brand and have exclusive right to sell the product and make good income in very short period of time. In the same way, you can compete with other entrepreneurs from the platform of the established brand.

Easy Small Business Loans Overview: How to Prepare Your Business for an Online Loan Application

Loans for small businesses aren’t known to be very easy to get – especially for start-ups. Online lenders have made it a bit easier for owners of smaller companies to apply for financial funding. There are solutions for equipment financing, inventory purchasing, participation in vendor programs, expansion, real estate, and more. Whatever your needs, you can use the internet to find easy small business loans.

Look for a lender that doesn’t have a long, drawn-out application process. The SBA has that problem, making it difficult for those who are just starting out, or who don’t have very good credit. However, if you do have bad credit, you still might only qualify for a secured loan, even if you use an online lender.

Never apply for a loan without first carefully understanding the repayment terms and interest rate, no matter how easy it might be to get. You don’t want to get cheated out by having to pay a lot of extra money over time. How much time will you be given to repay the loan, and what is the frequency of the payments you will be expected to make over that period of time?

Be careful not to borrow more money than required. What if you miss a payment and the interest rate goes up? You might end up paying back more money than it would have cost in the first place to pay out of pocket or with a credit card. While it might not be possible to calculate the exact amount you’ll need, have a financial advisor help you with the estimate. Don’t have one? Some online lenders actually offer free tools to help you with the estimate.

Show a Plan for Easy Small Business Loans

If you are able show how exactly the money will be used, and that you have a plan in place for paying the money back, then you will be more likely to be approved. Some lenders of easy small business loans will look at more than just your credit score. It is only one part of the entire picture, so even if it is low, you still might qualify for a loan if you are able to put together a good, sound business plan.

If you are going to be applying for loans online, check the website’s security policy. Ann of the sensitive data should be transmitted via SSL encryption.

Now that you have a better grasp of what to expect with online easy small business loans, it’s time to start looking for a lender that meets all of the criteria. US Business Funding is the place to start. With its 24-hour funding process, easy application, 95% approval rate, and flexible term / payment options, you can’t go wrong with US Business Funding.

Can Anyone Make $100,000 a Year Running Their Own Landscaping Business?

I have been in this business for over seven years. I saw it when it was small and have seen it grow exponentially! According to several sources, the landscaping industry has had an amazing 1000% increase in growth over the last 10 years! Also, residential homeowners as well as commercial and professional business owners spend over a billion dollars each season for this service and its associated products. And, with the landscaping industry being so versatile, this quite possibly will be the perfect ‘add-on’ service to your existing business. It is also the perfect business that can earn you enough in 8 months so you can either take the rest of the year off or run another seasonal business during the other 4 months of the year.

As a general rule, the landscaping season begins in Spring focusing mainly on commercial properties. This is when you will start to look for leads and begin your work. The season ends in mid to late fall when the grass has stopped growing at your clients’ homes and businesses.

Landscaping businesses can make more than $500 per day per work crew during the season. Well-organized installation crews can make more that $1000 per day. It is also not uncommon for landscapers to earn upwards of $1500 in a single day when doing work on larger residential and commercial jobs. I recently managed to get a landscaping contract with a local church. The quote I gave was for $1300. My equipment costs were minimal and I paid my 2 employees $120 each. Do the math. At the end of the job, I had over $1000 cash profit in my back pocket and a huge smile on my face!

A smaller landscaping business can easily expect to earn more than $20,000 in their first year as long as they have a solid business plan. Try to begin with the end in mind. I know of many mid size landscaping companies that make between 100 and 150 thousand dollars each year – between Spring and Autumn! There is a ton of money to be made in this industry. You are providing an essential service that people will use month after month and year after year.

The landscaping industry is the perfect add-on for seasonal businesses like, Christmas Light Installers, construction workers, window cleaners, junk removal services, painters, roofers, and framers. The main thing that attracted me to this industry is the fact that this business is extremely low risk. I have been able to use my current client database to create leads and get contracts. In the winter, I run a Christmas Light Installation business and have been able to keep my employees during this season whereas in past years, I had to lay them off and often they never came back because they found other work! This business changed that!

The landscaping industry is one of the fastest growing service industries in the United States, Canada, and the UK! Each year, the demand for this service increases. For some reason everyone wants to have a better looking lawn than their neighbors. In a recent study, it was shown that the thing that people despised most about owning a home is the pain of lawncare. People want a beautiful looking property without the hassle of mowing their own lawn. This is where you come in and cash out!

This wonderful business opportunity is now more popular than ever and you are a part of it! The biggest benefit you have is that you are starting now. It’s here and you got in on the ground floor at the beginning. That means there is a ton of room for growth. There is also room for small business owners, like you, to make a ton of money in a short period of time. It’s going to be some work, but once you get rolling, you are going to look back and think that taking the first step was the best decision you could have ever made.

Professional Accounting Services: 10 Reasons Every Business Needs Them

Running a business requires hard work with managers and small business owners doing a wide array of job roles. Often many fail to know when to they should bring in experts to get certain tasks done. The task of managing finances is critical to a business but lack the expert skills to get results or in a cost effective manner. Many people each year embark on an entrepreneurial journey lacking financial management skills and find themselves sitting amidst stacks of papers a year later, not knowing how to fix financial management issues and chaos This is an unfortunate reality that comes with having a business, and it is one of the most common reasons that businesses fail. Whether your just starting a business or have operated for several years, here are ten ways obtaining professional accounting services from a chartered accountant or an accounting firm, can improve the health of your business.

1. Assisting in Planning and Management — If you’re just starting out and don’t know where to begin, a reputable team of accountants can serve as an indispensable resource in building an effective business plan. For those who already have an established business, these firms can analyze your current operations and suggest ways in which you could increase your businesses viability.

2. Managing Time — Being an entrepreneur is a time-consuming task. Hiring a team to manage your financial matters, can free up time to actually grow your business. Trying to manage finances is overwhelming for most of us. Taking this on and stretching yourself thin can leave ample room for error in doing business and or managing it.

3. Providing Expertise — Most business owners begin operations knowing only the front aspect of the business. They may know all about fixing cars or cooking food, but often lack knowledge of managing finances. Having an expert in these areas is the best way to keep your business going strong.

4. Helping Establish Proper Accounting Procedures — The rules of handling money and recording data is different in every business. Your accounting professional can help you create a system that’s unique to your organization.

5. Handling Taxes — Tax filing is a time-sensitive issue and real penalties can manifest due to incorrect or late filing. Professional accounting services stay abreast of current tax law which assists you in meeting requirements and maximizing deductions. Having a professional accounting firm working for you, will help maximize tax savings and in the event of a tax audit, they will be able to work with these agencies on your behalf.

6. Payroll Assistance — This area may seem elementary, but doing payroll is a time-consuming task! Paying your help not only means deducting the taxes and cutting the check, but keeping track of and paying out employer contributions, as well. Making sure these figures are correct and paid on time, is vital to avoiding unnecessary costs.

7. Managing Assets — Budgeting is another way in which many business go wrong. Overextending your credit and managing working capital incorrectly can cause your finances to deteriorate quicker than a sandcastle on a hot,dry day. Professional accounting services can give imperative advice in this area.

8. Eliminating Mistakes — To error is human, and when your busy trying to juggle it all its exceptionally easy to make them. Having a professional accountant oversee your records regularly, is an excellent way to double-check for those simple mistakes that can cascade into colossal problems if left unseen.

9. Providing Useful Reports and Explanations — Professional accounting services can combine data into reports that can help you clearly understanding where you’re at, and where you’re headed. Profiting in the future is crucial to understanding what’s going on at the present.

10. Performing Auditing Tasks — Internal auditing is an essential function that most entrepreneurs overlook. Reviewing your business processes for functionality and accuracy, is a fundamental need in understanding how you can successfully improve and experience growth.

Securing professional accounting services for a business is a cost that achieves cost efficiencies in operations, helps keep them abreast of financial commitments and usually results in lower tax costs. It makes sense for every business to make sure to get this support in place before starting a business and certainly maintain this support for the life of the business.

Self-Employed Disability Insurance – Protection for Business Owners

There are a number of advantages to being your own boss. The freedom to set your own schedule, control over client and business relationships along with a feeling of liberation are a few of the main reasons increased numbers of Canadians are headed down the self-employment path. Self-employment does come with its list of challenges, one being, health insurance and more specifically… disability insurance.

Losing the safety net of an employee benefit program offered by large employers is challenging and sometimes costly. Buying disability insurance through a group plan will have lower rates, no medical exams and no financial underwriting but once you leave the group plan for self-employment, the rules change! Rates are higher, underwriting wants more details and you may have to go through a medical examination. This new set of hoops to jump through tends be the reason why most self-employed people shy away from obtaining any type of extended health care at all.

It is estimated that 15% of Canada’s work force is self-employed. A recent study showed that more than 500,000 Canadians said they had established their own businesses over the past two years, which is a record number. (CIBC Study, Globe & Mail). Not setting up the proper disability coverage to protect ones ability to earn an income can have it’s consequences. Disability Insurance will help protect your business (overhead expenses) and family in the event you are unable to go to work, an important building block to consider when you are self-employed.

You may be earning more than you would work for someone else, but what if you get sick? Or are in an accident that leaves you without the ability to earn an income either temporarily or permanently? You will likely have a number of medical expenses, personal expenses and you may not find your accounts payable are as patient as you had hoped. Here is where a well structured disability insurance plan can create a safety net, allowing you to concentrate on returning to good health and take the time away from work that you need.

While most business owners in their 40’s and 50’s are more conscious of their own mortality, there has been a marked increase in the number of entrepreneurs starting their own companies in their 20’s and 30’s. While encouraging for the economy it is important not to forget about the benefits and importance of a well structured disability plan.

A simple question you can ask yourself is: How do you plan to live if you can’t earn an income? Or more accurately, how will you support your dependents, pay your staff, or pay your business overhead if you can no longer earn an income?