Extreme Wealth Formula Overview

Dan Miller the CEO of Force One Events Inc, is an experienced marketer, programmer and successful entrepreneur. He has created a number of successful direct sale businesses which currently has thousands of business owners and still manages to run them today. The Extreme Wealth Formula is the latest business opportunity to be launched (May 2009) by Force One Events Inc.

General Overview

The Extreme Wealth Formula enters the realm of the growing billion dollar travel industry. Members will receive their own travel business along with the ability to experience luxurious vacations at a fraction of the cost. The cost of this private membership is $1799 and no monthly fees are required. Members are also provided training on how to market their business effectively using proven and targeted offline marketing strategies. A product purchase is not required to market this business as any person can become an affiliate for $49.

The Products

Members receive unlimited discounts on travel destinations to over 3,500 resorts, cruise vacations and more worldwide. This allows people to enjoy luxurious vacations at a fraction of what others are required to pay. These unlimited discounts will save people thousands of dollars on vacations year after year. Once payments have been made, members have access to these products immediately.

The Compensation Plan

The EWF compensation plan is based on a modified 2-tier platform, which allows members to receive $1,000.00 commissions from each sale that is generated with the program. Members will also receive $500.00 overrides from each sale their direct down-line makes. Also, this compensation plan does not require any person to “pass up” sales (also known as qualifying sales), before they start receiving commissions.

With this modified 2-tier compensation plan; additional features have been added that no other program online has done in the past. First, this program introduces the pure power of leverage within a 2-tier system. In addition to receiving overrides, members will also receive swing-line bonuses from their down-line sales.

The 2nd additional feature includes the ability to build your own affiliate team. Members will also receive $700.00 commissions from each sale their affiliates make.

Malta Property Overview

Malta property boom

Residential construction levels and the price of property in Malta boomed between 2003 and 2004, recording price increases of 20.3% and 13.3% respectively, after a 2003 referendum voted in favour of Malta joining the European Union on 1 January 2004.

Located in southern Europe just off the coast of Sicily, properties in Malta, which comprises an archipelago of seven islands, with a population of 400,000 inhabitants, have long appealed to overseas nationals. This is not just because of the Malta’s intense Mediterranean climate, but also owed to the country’s tax-efficient status; Maltese residents enjoy one of the lowest levels of income tax in Europe.

Demand for property in Malta

But international demand for homes in Malta, which primarily comes from the UK and Scandinavia, has waned over the past year or so. This is particularly the case with “British buyers” largely due to “the fall in the UK pound’s value” against the euro and Maltese lira, says Paul Hay of Malta Homes. The decline in sterling’s worth has significantly increased the cost of buying property in Malta.

Although property prices have fallen, the downturn has been nowhere near as drastic as most other European markets,” adds Hay. However, domestic demand for homes in Malta has been “surprisingly resilient”, says James Vassallo, senior manager, Tigne Point property development.

Vassallo continues: “Reduced interest rates have encouraged fence sitters to engage [in housing transactions] and have made those occasional bargains that much more attractive.”

Malta property prices start to stabilise

Although housing values are still falling in some areas, they have already stabilised in other regions, mainly because most Malta property owners are not so highly leveraged through borrowed money, as say those residing in the UK.

Despite the short-term market slowdown, the Malta property sector could find itself flying high in the medium to long-term, buoyed by growing tourism levels and an ever-increasing number of low-budget airlines.

Malta homes flying high

In 2008, EasyJet, Ryanair and Scandinavian Airlines, all either introduced or increased its direct routes from the UK and Sweden to Malta.

Vassallo adds: “The increased air traffic is certainly good for the island especially in these trying times. Malta is strategically placed between the west and east and the growing importance of North Africa. It appeals to businesses looking to relocate to the Med and over the years business travel has constantly grown.”

Rental investment properties in Malta

While there may have been a fall in foreign demand for Malta homes to buy, Hay says that greater tourism levels are increasing the requirements for holiday homes in Malta to rent.

“From a holiday letting point of view, 2009 appears to be looking healthy, when taking into account the global economic situation, says Hay. “In fact Air Malta recorded one of its most successful flight occupancies for the first quarter of 2009 for some years.”

Vassallo says that some of the best rental returns, albeit it at relatively low yields – approximately 4% – an be achieved by buying property in Sliema, property in St Julians, property in Valletta and property in St Paul’s Bay.

However, it is worth nothing that any foreigner wishing to lease their Malta home out, would have to register their property with the Hotel and Catering Establishments Board, and it can only be rented out on a short-term lease agreement.

Furthermore, non-nationals can only purchase a single Malta property, and usually only for owner-occupancy purposes, unless they buy property in a ‘Special Designated Area (SDA)’ permitting them to buy property in Tigne Point, property in Portomaso, property in Manoel Island, property in Chambray, and property in Cottoenra.

Malta Properties located in a SDA do not face some of the stringent restraints placed on foreigners otherwise wishing to let their Malta homes.

Residency in Malta

One way to overcome the confines placed on overseas nationals is to become a Maltese resident, which would also offer average earners a genuine opportunity to cut their tax bill.

Malta charges no capital gains tax on property sales after three years of ownership, but any local or overseas income brought into Malta is taxable at a rate of up to 35 per cent. However, residents can take advantage of The Maltese Residence Scheme, which charges a flat tax rate of 15 per cent, subject to a minimum tax liability of EUR4,200 (£3,630).

In order to qualify for residency in Malta, Mark Hollingsworth of Hollingsworth International, explains that an individual would have to own assets worth in the region of at least EUR350,000 (£303,000) or earn an annual income of approximately EUR23,500 (£20,400) outside of Malta.

Foreigners moving to Malta have to “remit a minimum of EUR13,950 (£12,00) plus EUR2,300 (£2,000) for each dependent to the [country’s authorities], not engage in any form of business activities in Malta and either purchase or rent property in Malta. A minimum of EUR116,000 (£100,000) would have to be spent on buying a house or EUR69,000 (£60,000) paid for an apartment, otherwise an annual rent of at least EUR4,150 (£3,600) would have to be spent on leasing a home.”

The process of buying Malta property

Anyone who actually goes ahead with a Malta property purchase should find the buying process pretty straightforward. The legal purchasing system in the country presents a relatively safe buying environment.

Deeds are presented upon completion of the property purchase, while the legally binding contracts are presented in English.

Small Business Commercial Insurance Overview: Understanding Basic Business Insurance Needs

It’s a given that all types of businesses require – at the very least – basic liability insurance. It’s always wise to safeguard your business against as much as possible. All industries are vulnerable to lawsuits for one reason or another these days. Even if you do most of your work from the home, there are still some risks you need to be aware of, such as copyright infringement. Luckily, there are custom small business commercial insurance policies are available, so you can look for quotes tailored towards your type of company and size of business.

You should take the time to educate yourself about the four primary coverage types general liability, commercial property, commercial auto, and workers compensation. If you don’t do any deliveries or use your car for anything relating to your business then you probably won’t need that coverage in your policy. If you don’t have any employees, then you won’t need workers compensation.

Even if you do have a few employees, you might or might not have to have workers compensation, depending on your state’s laws and the amount of risk involved with the employees. There is professional liability insurance for individuals such as attorneys, accountants, consultants, real estate agents, and so forth. General liability and professional liability are not the same thing.

There are some risks that are excluded under small business commercial insurance, despite the fact that they might involve large losses. For instance, floods and tornadoes require “specialized policies” This is because the insurance companies don’t like to have to pay out such a large amount of money to all of the businesses damaged within a small geographical area.

Small Business Commercial Insurance Coverage

Here are a few things from which a small business commercial insurance, in general, will protect your company:

• If someone gets hurt in any way while on physical property associated with your business

• If a customer has any property damaged by you or your employees

• If your products cause harm to someone or their property

• If you use a customer’s photo in your advertising and they try and sue you for copyright

• If your company is named in a lawsuit for medical expenses and property damages

What about your OWN injuries? What would become of your business if something were to happen to you? These are also things to consider when adding specialized coverage to your policy.

Just use the internet to help find the right small business commercial insurance for you, starting with Hiscox Business Insurance. Review your insurance each and every year to make sure it still lines up with your needs.

Human Resources Recruiter Job Overview

In order to gain a competitive advantage and fuel a company’s growth, there is a need for qualified and highly skilled professionals. To recruit such talent pool, HR recruiter plays the most important role in any organization. A Human Resources (HR) Recruiter is a person who is responsible for maintaining all levels of recruitment throughout the company. Furthermore, in order to make a career in this field, one needs to have:

  • At least a bachelor’s degree
  • Master’s degree in Human Resources
  • Knowledge of whole recruitment lifecycle
  • Know how of employment regulations
  • Excellent communication and interpersonal skills
  • Phone and interviewing skills
  • Professional approach
  • Ability to work under various situations
  • Time management skills
  • Project management and judgment skills
  • Strong decision-making skills
  • Ability to keep and manage confidential information

The job of an HR recruiter is to achieve the staffing goals of an organization. Recruitment process usually involves establishing recruiting needs according to the company’s plan, advising managers, building applicant sources, attracting and evaluating candidates. The HR recruiter is solely responsible for the outcomes of the recruitment process within an organization. The recruiter not only handles the recruitment process but also required to take care of the quality of the delivered candidates, timeliness of hiring and costs of the hiring process.

Some of the major roles and responsibilities of a Human Resources recruiter includes:

  • Find out and implement best recruiting practices
  • Coordinating with managers to determine the requirements for a particular job position
  • Build networks to find qualified and suitable candidates
  • Advertising positions through various known sources that will attract talents
  • Screen candidates resumes and job applications
  • Make sure that the personnel requirements for specific position is accomplished in a timely manner
  • Manage social media and professional networking sites to identify and source candidates
  • Perform reference checks
  • Conducting initial interviews, which includes telephonic and face to face interviews
  • Partner with other HR staff for planning various activities
  • Design recruitment strategy on an annual basis
  • Promoting company’s reputation

Job positions available and salary in HR recruiter field

Owing to the growing demand of quality workforce in assorted companies, the demand for HR recruiter is also on the rise. Different levels of HR recruiter jobs position exists in various companies, which include entry level job position to recruitment manager. Moreover, in this career path, one can also opt for other specialized job positions related to HR field such as Career development specialist, junior HR business partner, etc.

The average salary of an HR recruiter in India is in between INR 1, 80,000 to INR 2, 80, 000 per annum.

Final Words:

There is a huge scope for HR recruiters to grow in their respective field. With a good experience and knowledge of related aspects including how to communicate with various people on different positions, how to maintain a healthy relationship with the employees, etc., is surely the path towards the top positions in HR field.

CAT – MBA Admission Test – Overview

CAT is the gateway to the cream of management institutes in India, the IIMs. CAT, or the Common Admission Test, is an aptitude test; it is the most popular test among prospective management students because it is accepted by the best institutes. The CAT is one of the world’s ost demanding entrance examinations for any graduate institute.

CAT MBA entrance exam is used as a criteria to shortlist applicants for admissions to the six IIMs-IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Indore, and IIM Kozhikode. Common Admission Test is one of the largest MBA entrance exams conducted in India, anually. The CAT score is also accepted by more than 75 non-IIM institutes across India, some of which are as reputed as the IIMs.

Eligibility for the postgraduate programmes in management at all IIMs and to appear for IIM-CAT is at least a three-year bachelor’s degree in any discipline from a recognised university with 50% Marks in graduation. Indian Institute of Management (IIMs), the premier business-schools of the country (and counted among the best in the world) conduct this test for selecting potential students for the next round of admission process (comprising of a personal interview and a group discussion) for their MBA and Fellow-ship programmes.

Those appearing in the final year examination of graduation are also eligible to appear in Common Admission Test. Some People feel that Common Admission Test (CAT) is more of a rejection procedure than a selection process.It rejects those who can’t make their minds work at break neck speed for two and a half hours non-stop.

CAT Exam covers questions in five broad areas such as verbal ability and reasoning, reading comprehension, quantitative skills, data interpretation and logical reasoning.

The number of questions asked in Common Admission Test vary every year and a typical CAT question paper can have anywhere between 75 and 150 questions. Common Admission Test evaluates the candidate’s presence of mind and his ability to perform under pressure. Announcement of the procedure for appearing in the Common Admission Test is made in leading newspapers in August every year for admission to the programme beginning in the second half of June of the following year. The test will be conducted during November. CAT 2007 Notification for admission to 2008 session has been announced.

Usually, CAT tests three of your abilities:- Problem Solving- Data Interpretation and Logical Reasoning- Verbal Ability and Reading Comprehension. The CAT examination demands competency across all sections of the paper. So, the number of sections in the test don’t really matter; what matters is whether you are competitive and have answered questions in all the sections.

All the questions are of multiple-choice nature with four/five alternate answer choices and the candidate has to choose the best answer for each of the questions and mark it on a special Optical Reader answer sheet. Differential marks are allotted to the questions. The test comprises 150 to 200 objective type questions and is usually divided into three to four sections. The number of questions in the test has been coming down steadily, from nearly 200 in the 1990s to 90 in 2005 and just 75 in 2006.

Very little strategy could be applied in selecting the easiest questions. Cut that down and don’t waste time on questions which are lengthy. One misconception is that you need to slove the whole Question Paper – not at all. If you can solve 38 to 40 per cent of the questions, CORRECTLY, you are through.

Not an Engineer – No Problems You don’t need to be an Engineer to get into an IIM . Infact being a non-engineer may help in the Interview part. IIMs encourage diversity. And being a non-engineer you may be compared with other non-engineers. Rather than with engineers who may be compared with IITians.

Personal or Postal Coachings is helpful for CAT Preparation. The Coaching Institutes will teach you shortcuts and you will get chance to appear in Mock Tests conducted for CAT. There are many good Coaching Institutes – Bulls Eye, Ascent, TIME, IMS, Roots Education and Career Launcher. It is tough to say which one institute is the best MBA Entrance coaching Institute. It completely depends on faculty. Before joining any coaching classes, first consult to students who have already joined that particular institute. You can also try MBA Entrance Preparation Question Bank CDs being offered on the net. These MBA Test Preparation CDs help you practice the tests.

– Anurag Chopra Entrance Exams India Portal

Get Free Entrance Exam and Admission Alerts by Subscribing to Entrance Exam Alerts Group at Yahoo Groups in your email box. Presently over 20,000 members

Installing Dynamics GP Version 10-0 Overview For IT

If you are trying to install Microsoft Dynamics GP version 10.0 or upgrade in-house from earlier version of Great Plains Dynamics ERP, please read this small publication to get orientation. GP version 10.0 installation and upgrade is very sensitive to your Windows XP or Vista settings and OS service packs applied. In our unofficial opinion, if you are trying to keep corporate IT policy, sticking to Windows XP Professional and not allowing Vista Business or Ultimate, Windows XP SP3 is often the source of problems, consider staying on XP SP2 instead. The issues might be related to .Net Components 2.0, that seems to be needed for Great Plains Dexterity 10.0 – these components tend to be replaced with newer version: 3.0 or 3.5 if you are purchasing brand name computer from Dell, Compaq or HP. Also known issues about XP Service Pack 3 – you cannot install SQL 2005 client on it (the work around is to uninstall SQL 2005 Native Client and in some case Office 2003 Components). Let’s move on to installation highlights:

1. Dexterity Components prerequisite installation failure work around. If you are loading Great Plains on Windows 2003 Server R2, chances are very high that you will get the error message on prerequisites. There is no way to get it resolved, but download from Microsoft Dynamics GP Partner or Customer Source SkipDotNetCheck.mst and DexSkipDotNetCheck.mst files and command to install Microsoft Dynamics GP in command line. Please, call your Dynamics GP Reseller or Microsoft Business Solutions directly to get these files and scripts

2. GP 10.0 installation on Vista. Here you have to disable or turn off User Account Control. Great Plains version 10.0 is compatible with Vista 32 and 64 bits

3. Upgrading to Microsoft Dynamics GP 10.0. Here you have Service Packs puzzle. If you are on GP version 8.0, please apply GP Service Pack 5. If you are on GP 9.0, apply Service Pack 2 or 3. Then apply GP 10.0 Service pack 2 or higher and you are now ready for Great Plains version update from 8.0 or 9.0 to 10.0. Again, if you only have Great Plains Dynamics GP CD 10, there is no work around, but appeal to your Great Plains Reseller to get appropriate service packs

4. Dynamics GP 10.0 New Security Model. In earlier versions of Great Plains Dynamics: 9.0, 8.0, 7.5, 7.0, 6.0, 5.5, 5.0, 4.0, 3.2 you had user access and user class access rules, based on GP objects: windows, tables, alternative and modified alternative windows and reports. In GP version 10.0 security is redesigned to be based on Operations, Tasks and Roles. Dynamics GP 10.0 upgrade process has work around, allowing you to transform users and users classes old security to named users security roles in GP 10.0. Also, if you are small organization, you could probably afford to work without security and assign all your Great Plains users to Poweruser role.

The e-Marketing Plan – Brief Overview and Working Scheme

I. Summary of a marketing plan

The marketing planning (concretized in the marketing plan) is an essential organizational activity, considering the hostile and complex competitive business environment. Our ability and skills to perform profitable sales are affected by hundreds of internal and external factors that interact in a difficult way to evaluate. A marketing manager must understand and build an image upon these variables and their interactions, and must take rational decisions.

Let us see what do we call a “marketing plan”? It is the result of the planning activity, a document that includes a review of the organization’s place in the market, an analysis of the STEP factors as well as a SWOT analysis. A complete plan would also formulate some presumptions on why we think the past marketing strategy was successful or not. The next phase shall present the objectives we set, together with the strategies to achieve these objectives. In a logical sequence, we will further need to evaluate the results and formulate alternative plans of action. A plan would consist in details of responsibilities, costs, sales prognosis and budgeting issues.

In the end, we should not forget to specify how the plan (or plans) will be controlled, by what means we will measure its results.

We will see how to build the marketing plan, what is its structure: after we will see how to build the traditional marketing plan, we will take a look at the e-marketing plan and see how the unique features of the internet will require some changes in the approach of writing a marketing plan.

But, before we continue, we must understand and accept that steps of the marketing plan are universal. It is a logical approach of the planning activity, no matter where we apply it. The differences you meet from a plan to another consist in the degree of formality accorded to each phase, depending on the size and nature of the organization involved. For example, a small and not diversified company would adopt less formal procedures, because the managers in these cases have more experience and functional knowledge than the subordinates, and they are able to achieve direct control upon most factors. On the other hand, in a company with diversified activity, it is less likely that top managers have functional information in a higher degree than the subordinate managers. Therefore, the planning process must be formulated to ensure a strict discipline for everyone involved in the decisional chain.

II. The general marketing plan

The classical marketing plan would follow the following scheme of 8 stages:

1. Declaring the mission: this is the planning stage when we establish the organizational orientations and intentions, thus providing a sense of direction. In most cases, this is a general presentation of the company’s intentions and almost has a philosophic character.

2. Establishing current objectives: it is essential for the organization to try to determine with preciseness the objectives to be reached. These objectives, in order to be viable, must be SMART. SMART is an acronym and stands for “Specific”, “Measurable”, “Attainable”, “Realistic” and “Timed”. The objectives must also convey the general organizational mission.

3. Gathering information: this stage is based on the concept of marketing audit. After performing the audit of the macro-environment by analyzing the STEP factors (social, technologic, economic and politic), we should turn the focus upon the immediate extern environment (the micro-environment) and analyze the competitive environment, the costs and the market. Finally, we will conclude with the SWOT analysis, by this way we will have a general view upon the internal environment compared to the external one. The SWOT analysis combine the two perspectives, from the inside and from the outside, because the Strengths and the Weaknesses are internal issues of an organization, while the Opportunities and Threads come from the outside.

4. Re-formulating objectives: after the close examination of data gathered in the previous stage, sometimes it is needed to re-formulate the initial objectives, in order to address all the issues that might have come up from the previous stage. The distance between the initial objective and the re-formulated objective will be covered by appropriate strategies. We must ensure the re-formulated objective is SMART as well.

5. Establishing strategies: several strategies are to be formulated, in order to cover the distance between what we want to achieve and what is possible to achieve, with the resources at our disposal. As we would usually have several options, we should analyze them and chose the one with more chances to achieve the marketing objectives.

6. Plan of actions: consists in a very detailed description of the procedures and means to implement the actions we want to take. For example, if the strategy implies a raise in advertising volume, the plan of actions should establish where the advertisements will be placed, the dates and frequency of the advertising campaigns, a set of procedures to evaluate their effectiveness. The actions we plan to take must be clearly formulated, measurable, and the results must be monitored and evaluated.

7. Implementation and control: consist in the series of activities that must be performed in order to run the marketing plan in accordance to the objectives set by the marketer. At this stage, it is critical to gain the support of all members if the organization, especially when the marketing plan is due to affect the organization from its grounds.

8. Performance measurement: constitutes the last but not the less important stage of the marketing plan, since we can achieve only what we can measure. In order to measure the performances achieved through the marketing plan, we need to constantly monitor each previous stage of the plan.

The marketing plan that has a feedback cycle, from 8th stage back to the 4th. That is because sometimes during the planning process, we might need to perform stages 4 to 8 several times before the final plan can be written.

III. The e-marketing plan

The e-marketing plan is built exactly on the same principles as the classical plan. There is no different approach, but there might be some formal differences given by the uniqueness of the internet environment. Many of these differences come from the necessity to ensure a high rate of responsiveness from the customers, since the e-world is moving faster and requires faster reaction from its companies, compared to the traditional offline marketplace.

Even though it is perfectly acceptable and is a common practice to use the 8-stage classic model for the e-marketing plan as well, you might want to consider the simplified version proposed by Chaffey, who identifies four major steps to build the e-marketing plan:

1. Strategic analysis: consists in continuous scanning of the macro- and micro-environment. The accent should fall on the consumers’ needs that change very rapidly in the online market, as well as on surveying the competitors’ actions and evaluating the opportunities offered by new technologies.

2. Defining strategic objectives: the organization must have a clear vision and establish if the media channels will complement the traditional ones, or will replace them. We must define specific objectives (don’t forget to check if they are SMART!) and we must also specify the contribution of the online activities to the organization’s turnover.

3. Formulating strategies – we do that by addressing the following essential issues:

– develop strategies towards the target markets;

– positioning and differentiating strategies;

– establish priorities of online activities;

– focus attention and efforts on CRM and financial control;

– formulate strategies for product development;

– develop business models with well-established strategies for new products or services, as well as pricing policies;

– necessity for some organizational restructuring;

– changes in the structure of communication channels.

4. Implementing strategies: includes careful execution of all necessary steps to achieve established objectives. It could refer re-launching of a website, promo campaigns for a new or rewritten site, monitoring website efficiency and many more.

Note: a common strategy to achieve e-marketing objectives is the communication strategy. The steps to built a coherent communication plan will be presented within a further article.

IV. The e-marketing plan (sample titles)

1. Executive Summary

a. overview upon present conjuncture;

b. key aspects of the strategic e-marketing plan.

2. Situational Analysis

a. characteristics of the e-market;

b. possible factors of success;

c. competitors’ analysis;

d. technological factors;

e. legal factors;

f. social factors;

g. possible problems and opportunities.

3. The e-Marketing Objectives

a. product profile;

b. target market;

c. sales objectives.

4. The e-Marketing Strategies

a. product strategies;

b. price strategies;

c. promotion strategies;

d. distribution strategies.

5. Technical Issues

a. website content;

b. website “searcheability”;

c. logging security (for customers and staff);

d. customer registration procedure;

e. multimedia;

f. autoresponders;

g. order forms and feedback forms;

h. access levels to online resources;

i. credit card transactions;

j. website hosting;

k. website publishing;

l. technical staff (size, requirements)

6. Appendix

7. Bibliography

Microsoft Great Plains Reporting – Overview for Developer

Looks like Microsoft Great Plains becomes more and more popular, partly because of Microsoft muscles behind it. Now it is targeted to the whole spectrum of horizontal and vertical market clientele. Small companies use Small Business Manager (which is based on the same technology – Great Plains Dexterity dictionary and runtime), Great Plains Standard on MSDE is for small to midsize clients, and then Great Plains serves the rest of the market up to big corporations. There are several reporting tools available and you definitely need to know which one to use for different types of reports.

If you are developer who is asked: how do we create report for Microsoft Great Plains – read this and you will have the clues on where to look further.

  1. Great Plains Report Writer (ReportWriter) – this is built-in reporting tool. All the original report in Great Plains are written in ReportWriter. ReportWriter itself is Dexterity module. You should use this tool if you would like to modify existing Great Plains reports, such as Blank Invoice Form – here you can place your company logo, change the positioning, fonts, colors, etc. ReportWriter will allow you also do new reports – simple option if you want to export all the records from one Great Plains table – use it. New report, however doesn’t have interface where you would enter parameters – so it is not useful for real custom reports. Another limitation of ReportWriter – you can not do cross-modules report – when you need sales and purchasing info on the same report for example.
  2. FRx. This is excellent tool when deal with financial reporting – it works on the General Ledger level (Balance sheet, P&L, Cash Flow Statement, etc.). It also allows you to do multiple companies consolidation – when you do consolidated Balance Sheet (with inter-companies transactions elimination).
  3. Smart List – Export to Excel – this is nice feature in Great Plains – you could create a list with simple criteria and then export it to Excel.
  4. Crystal Reports. It gives you unlimited functionality. Obviously flexibility requires you to know Great Plains table structure: Launch Great Plains and go to Tools->Resource Description->Tables. Find the table in the proper series. If you are looking for the customers – it should be RM00101 – customer master file. If you need historical Sales Order Processing documents – they are in SOP30200 – Sales History Header file, etc. Create ODBC connection to GP Company database. Use the same technique as when you create standard ODBC connection for GP workstation – but change default database to targeted company database. Create SQL Query to probe the data – we always recommend tuning your query and see that you are getting adequate results – in any case – Crystal Report is just a nice tool to show the results of your query.
  5. Direct Web Publishing off Great Plains databases – yes – it is easy now with Visual Studio.Net and you can hire good programmers. This is good – Microsoft Business Solutions products: Great Plains, Solomon, Navision and Axapta will be integrated into so called Microsoft Business Portal – which will have web interface – you can get the idea if you look at Microsoft CRM web client – so direct web publishing is good taste.
  6. SQL Queries. If you have SQL background – this is great field for you. You know – with properly formatted SQL query you can realize simple EDI export/import for the integration with legacy systems.

Happy designing! If you want us to do the job – give us a call 1-866-528-0577! help@albaspectrum.com

Overview of the United Arab Emirates (UAE)

By the early twentieth century, a leading source of economic activity was the pearl trade. However, World War I, the Great Depression, and the Japanese invention of the cultured pearl resulted in a significant weakening of the pearling industry. The heavy taxation on pearls imported from the Gulf following World War II by India caused its irreversible decline. As a result, some turned to fishing. But, with little education and no roads or hospitals, the future looked bleak. By the 1930s, the first oil company entered the region and began conducting surveys around Abu Dhabi. In 1962, Abu Dhabi exported its first cargo of crude oil that would play an essential role in the UAE’s development.

Since the 1820s, the English had maintained a presence in this region. In 1853, Britain intervened in the area due to pirate threats and made a permanent truce to provide protection and oversight of the foreign policy. It was explicitly understood that Britain would not colonize the area. This agreement was made with a group known as the Trucial States, which were a collection of sheikdoms in the Persian Gulf. The Trucial States, also referred to as the Trucial Colony, was composed of present-day Bahrain, Qatar, UAE and Oman. Following a period of Arab nationalism and anti-British activity beginning in the 1940s and 1950s, the British eventually relinquished administration of the region in 1971.

On December 2, 1971, the UAE was created by uniting seven of the Trucial States under a unified Constitution: Abu Dhabi, Dubai, Sharjah, Ajman, Umm al Qaiwain, Ras al-Khaimah and Fujairah. Abu Dhabi is the largest of the former territories and is the federal capital. Dubai is second largest of the emirates and is the main port, commercial center, and airport hub. The five other emirates are smaller areas that realize political and economic benefits through alliances with the larger neighbors, Abu Dhabi and Dubai. All seven states are ruled by Sunnis.

The UAE is considered by some to be an autocracy, which is a form of government in which one person possesses unlimited power. There has been even less political reform in this country than in other Gulf States, even Saudi Arabia. International non-governmental organizations (NGOs) have ranked the UAE as having among the least free political systems in the world. In particular, such studies have highlighted the existence of the ‘sheikh’s dilemma’ in the UAE, in which economic but not political reform is pursued. To maintain peace, a ‘ruling bargain’ is implemented where the UAE government distributes oil wealth equitably, while also carefully exploiting a range of ideological, religious, and cultural resources. Others simply state that the UAE exhibits a monarchical presidency led by ruling families on neo-patrimonial lines.

Following the British withdrawal, Sheikh Zayed bin Sultan Al Nahyan became the first president. Sheikh Zayed, once Emir (or ruler) of Abu Dhabi, ruled as UAE’s president for over thirty years until his death on November 2, 2004. Due to oil wealth, Sheikh Zayed became one of the richest individuals in the world with an estimated net worth in excess of $24 billion (USD). Following his death, the eldest son of Sheikh Zayed, Sheikh Khalifa bin Zayed Al Nahyan became President of the UAE. Sheikh Khalifa is the world’s third richest member of a royal family, with an estimated net worth of $19 billion (USD). The presidency of UAE is decided by a vote by the Federal Supreme Court (FSC), a governmental entity in the UAE rather than through an electoral or popular vote. Political parties are strictly prohibited.

The UAE’s highest authority is the Supreme Council of Rulers (SCR). The SCR is given power to initiate policy and reject laws that have been previously passed. Seven hereditary rulers and sometimes their crown princes and closest advisors have control of this governing body. Subordinate to the SCR is the Federal Council of Ministers (COM). The bulk of UAE’s policies and daily affairs are formulated by the COM, which meets more frequently and formally than the SCR. The judicial branch of government is run by the Union Supreme Court. Judges are appointed directly by the UAE president.

The FSC is the highest constitutional authority in the UAE and has both legislative and executive powers. Overseeing the FSC are the rulers from each of the seven emirates. In addition to the FSC, there are both secular and Islam courts in all seven emirates. The secular courts in the UAE rule on criminal, civil, and commercial matters. Family and religious disputes are heard in the Islamic courts. Each emirate has their own government with municipalities and departments.

There is a high degree of political stability in the UAE, and it is the only Arab state to have a working federal system that withstood the test of time. Furthermore, there are many women in all levels of government. This is a positive reflection on the UAE given its Middle East location.

Sheikh Zayed had a foreign policy to not use force over compromise and to become a major donor of overseas aid, such as infrastructure development and humanitarian relief.

Sheikh Kahlifa developed a foreign policy of non-interference in the internal affairs of other countries. He also supported the pursuit of peaceful resolutions of disputes. The UAE has provided support to the Iraqi Government in the form of debt forgiveness and is a strong advocate of instilling peace in the Middle East with help primarily from the USA. In addition, the UAE promotes intercultural and interfaith dialogues with the primary goal of mitigating misunderstanding between faiths and cultures with the belief that such misunderstandings are used as leverage by terrorists and those who harbor them.

There is strong support in the UAE for international institutions such as the United Nations. The UAE signed or ratified laws to protect the rights of people with disabilities and hosted conventions to eradicate torture and cruelty in punishment, suppression of nuclear terrorism and combating human trafficking. Illicit drugs are another problem, as its proximity to South Asia makes it a drug transshipment point for traffickers. Furthermore, being a major financial center, the UAE is at risk of harboring money laundering schemes. The international community is seeking the UAE government to implement controls to mitigate these problems. The UAE is also a supporter of peaceful resolutions in Palestinians with the support of the Gulf Cooperation Council (GCC).

Disputes have existed between the UAE and Iran over the ownership rights to three UAE-based islands. These disputes date back to 2003 when Oman and the UAE signed and ratified boundary agreements for the entire border. Failing to publish the agreement and detailed maps of alignment gave Iran the opportunity to dispute the Tunb and Abu Musa Islands. In October 2009, Iran signed a Memorandum of Understanding to establish a joint commission between itself and the UAE. Furthermore, the UAE has concern over Iran’s nuclear program. Once long-time tensions between Saudi Arabia and the UAE have also abated. The biggest threat to the UAE is an internal regime failure, which would collapse the GCC military.

The UAE’s foreign aid policy is based on the Islamic philosophy of extending a helping hand for the needy to fulfill a duty of all Muslims. Wealth from oil and gas provides the UAE with the means of helping less fortunate countries. Organizations such as the UAE Red Crescent, which provides emergency relief, play an important role in such efforts.

Relations with the USA have been well-maintained and unified with the goal of maintaining a strong alliance with security and economic interests, including stability in the Middle East and the reliable supply of energy to global markets. The UAE is the largest importer in the Arab World of US goods at $144 billion (USD) in 2008. Over 750 US firms have a presence in the UAE, including Bechtel, ExxonMobil, Starbucks and Cold Stone Creamery. (The World Factbook 2009, 15) Following the global recession, the UAE has tried to insulate the local economy while working with multilateral institutions, such as the International Monetary Fund (IMF) and on a bilateral basis to help countries most seriously impacted.

One setback for the UAE is the severe repression of freedom of speech. There are controls restricting the media from criticizing or questioning the actions of policy. The UAE government pushed new media laws past a first legislative hurdle on January 20, 2009, which would restrict the freedom of press. Any journalist who criticizes the royal family or publishes information that is damaging to the economy, Islam, or UAE citizens is fined up to 1,000,000 Emirati Dirhams (AED). The maximum fine is equivalent to about $270,000 USD. Imprisonment is also possible, but rarely enforced, as the industry practices self-censorship. Censorship has also been exercised by the UAE government. Censoring media on UAE’s prison affairs, democratization efforts, and criticism of the ruling family is seen as repressive to the rights of UAE citizens.

For instance, the UAE does not participate in a bankruptcy process as in many Western nations. Debtors unable to meet such obligations are sent to a debtor’s prison and this has been an increasingly occurring affair since the start of the global financial crisis. Many questions have been raised about the ethical nature of this practice, as well as the level of humane treatment at such facilities.

Property rights in the UAE are about forty percent below the global average, according to the Heritage Foundation, due to the considerable influence the ruling families exercise on the judiciary. Corruption and incompetence in the system is rarely challenged. All land in Abu Dhabi is government-owned. Foreigners may obtain mortgages in Dubai. The UAE leads the region in the protection of intellectual property rights.

The population of the UAE is expected to grow from 4.76 million in 2008 to 5.06 million in 2009, a 6.31 percent annual growth rate. The UAE is extremely reliant on expatriates in its workforce. As of 2007, there were an estimated 3.62 million non-UAE nationals versus 864,000 UAE-born nationals. Most labor issues concern expatriates, especially among the unskilled segment. Addressing these issues is an ongoing development.

In the same year there were an estimated 3.08 million males and 1.4 million females. While Arabic is the official language, English is preferred in the international business community of the UAE. Islam is the official religion of the UAE, but all religions are tolerated.

UAE nationals are described as being tolerant, forward-looking individuals who maintain a strong sense of tradition. There is a high standard of living that is shared by many, including a well-developed education system and health services. There are over sixty public and private universities in the UAE. The illiteracy rate is approximately seven percent.

The UAE government supports efforts to develop human services, especially to assist in the empowerment of women and for social welfare programs. Approximately thirty percent of the UAE workforce is comprised of women. While migrants primarily wear Western-style clothing outside of work, the UAE nationals primarily wear traditional clothing in most settings for cultural reasons and to distinguish themselves from foreigners. Rapid advancements in healthcare facilities have drastically reduced infant mortality (to approximately eight out of every 1,000 births in 2008) and raised the average life expectancy age in the UAE (to seventy-seven for men and eighty for women). Social security services amounted to over $600 million (USD) in 2008, providing financial assistance to nearly 38,000 people.

The UAE sought to modernize under President Sheikh Zayed. Today, the country benefits from a vibrant free economy with a significant annual trade surplus. Reform of property laws has led to a boom in real estate and tourism, especially within Dubai. Tourism is expected to increase to 11.2 million tourists to the UAE in 2010.

Using such efforts as free trade zones, the UAE has been able to successfully diversify away from dependence on oil and gas exports. Free trade zones attract significant foreign investment given the incentive of one-hundred percent foreign ownership and tax-free profits, creating thousands of jobs and facilitating a technology transfer. In 2007, the direct foreign investment (DFI) into the UAE was the highest in the region, at around $19 billion (USD). Two of the largest free trade zones in the UAE are the Dubai Media City and Jebel Ali Free Zone. For instance, Jebel Ali Free Zone, a container port terminal, transports over eight million containers of cargo each year and was expected to reach $180 million in profits in 2007. This is more than all of India’s ports combined.

The GDP in the UAE was approximately $199 billion (USD) in 2007 using current prices, which represented a 5.2 percent annual growth rate and is approximately 115 times larger than its GDP in 1971. Major industries are oil and gas, petrochemicals, aluminum, cement, ceramics, ship repair, pharmaceuticals, tourism, transport, real estate and financial services. While many private companies operate six days each week, the government institutions reserve Friday and Saturday as days off.

In 2007, the UAE economy was ranked the twenty-ninth most competitive economy out of forty advanced economies in a study. This puts the country well ahead of any other Middle Eastern nation. According to the study, some of the strengths of the UAE included a government surplus, low national debt and a high national savings rate. Some of the weaknesses include uneven performance, a lack of innovation and entrepreneurship and high inflation, which unofficially has been as high as fifteen percent. In fact, the UAE is now the second largest Arab economy, behind only Saudi Arabia.

Economic growth is anticipated to slow as the country continues to mature and stabilize. Several serious issues hinder the continued UAE economic expansion. The property market throughout the country has issues such as project delays and bank funding shortages. Partially finished commercial buildings can be found primarily in Dubai and Abu Dhabi, and to a lesser extent in the other five emirates The recent decline in fuel prices has had implications on the UAE budget despite efforts to diversify. Furthermore, the UAE government is implementing more stringent lending guidelines for individuals and companies, while UAE banks are reducing exposure to foreign debt. The UAE had a budget surplus in 2006 of 211.3 billion AED. In 2007, the budget surplus increased to 236.15 billion AED.

Despite the efforts by the UAE to become less dependent on natural resources as a source of revenue, petroleum and natural gas exports continue to play an important role in the economy. UAE main export partners are Japan, China, and Iran. Imports into the UAE are mostly machinery and transport equipment, chemicals and food. Its main import partners are the European Union (Germany, UK and Italy), China, India, the US, and Japan. In 2006, the UAE had a trade surplus of 132.38 billion AED and a trade surplus of 135.94 billion AED in 2007.

To support the banks, the government is working on establishing guarantees of banking deposits and supporting low interest rates. Also, major infrastructure projects are being initiated at this time to lock in savings due to the economic downturn. Corporate governance and transparency standards are rising in the UAE as of late to instill international investor confidence in its equity markets.

The AED is currently pegged to the USD at 3.673 AED to every USD. The peg was established in the late 1980s; the current peg was established in 2002. This strategy could work well for the UAE because one of the country’s major sources of revenue is oil, which is denominated in USD. However, this also makes the UAE subject to any and all currency movements in the USD relative to other currencies. One of the major drawbacks of this exchange rate policy is the effect of high inflation in the UAE.

There have been several lessons learned in the UAE following the most recent global recession. First, leaders in both the public and private sectors took note of the correlation and interconnectedness of global market players. Secondly, careful study was undertaken to evaluate the re-recessionary impact on the UAE economy of oil price declines. Despite slowing growth, the UAE still has one of the fastest growing economies in the world. One of the main drivers of economic growth and employment creation in this country has been the consistency of fixed capital investment from the government, public institutions, and private entities. Four primary sectors are attracting investment and providing economic expansion in the UAE: hydrocarbons, manufacturing, transportation and communications and real estate.

Dubai plays a strategic role in the future of the UAE. Since the beginning of the twentieth century, Dubai had become the premier trading post of the Persian Gulf. Today, it is a massive metropolis with a population in excess of two million people. The initial catalyst for the emirate was oil wealth, which was used to invest in infrastructure and facilitated rapid socioeconomic developments starting in the 1970s and 1980s. A pioneering model was then introduced to create a post-oil economy based on diverse industrialization and a variety of specialist free zones. The diverse industrialization included such sectors as commercial infrastructure, light import-substitution, promotion of luxury tourism and a freehold real estate market.

Abu Dhabi, UAE’s political capital, has at least ten percent of the world’s proven hydrocarbon deposits and over ninety percent of UAE oil exports. Through oil-based revenues flowing into the country, the Abu Dhabi Investment Authority (ADIA) has formed to become the largest sovereign wealth fund (SWF) in the world. ADIA has teams of foreign experts that scour the globe for a variety of investment opportunities in the developed world, such as a five-percent stake in Fiat-controlled Ferrari, Southeast Asian emerging markets, and other developing countries (such as investments in Libya’s tourist infrastructure) that are expected to have substantial future growth.

Over the next ten or more years, the UAE and GCC members as a whole are anticipated to receive a windfall from a strong demand-side energy stimulus due primarily to the rapid economic developments in Brazil, Russia, India and China (BRICs). The BRICs were first recognized by a team of economists and other researchers at Goldman Sachs and, according to their predictions, the BRICs will exert considerable pricing pressure on global energy markets over at least the next decade due to their rapid economic development. If this takes place, the UAE will be able to sustain high investment levels and strong welfare-enhancing economic growth. Due to current regional instability and periods of regional violence, which is among the worst in the world, the UAE’s full economic potential from this scenario will unlikely be reached. Nonetheless, the UAE and the rest of the GCC have an opportunity in the coming decades to become one of the most prosperous regions in the world.

Despite impressive economic growth and development, areas of vulnerability within the economic system of the UAE exist. Social welfare systems have tied the government to burdensome distributive practices, which can bread an unproductive mentality among the native population. Secondly, many new sectors are especially reliant on foreign investment and an expanding expatriate workforce. For instance, Dubai has succumbed to not only globalizing but also appears to be Westernizing. Taboo industries for the UAE have been established in Dubai to cater to foreign residents. They include night clubs, movie theaters and bars.

The other five emirates outside of Abu Dhabi and Dubai lack in economic development and growth potential. Ajman and Sharjah are both resided in by Dubai workers looking for cheaper accommodations. Ajman has great stability, with only four rulers since 1900. Sharjah is a city of learning and the arts, representing the cultural capital of the Arab World and has over twenty museums. Umm al-Qaiwain is the second smallest emirate and is relatively unproblematic and politically stable. However, the emirate’s stance on alcohol has created rifts with the UAE rulers. Umm al-Qaiwain licenses the right to sell and consume alcoholic products, like Dubai, but also operates hug shops at beach resorts. Residents in this emirate rely on fishing and cultivating palm trees as primary sources of income. Umm al-Qaiwain is undergoing an architectural renaissance and is rapidly developing. Fujairah is the only emirate on the eastern side of the UAE along the Gulf of Oman and has lowly status in the country’s development process. If it is able to overcome this situation, Fujairah has the potential to become an important alternative port of Dubai and the rest of the UAE.

The emirate benefits from great stability and good neighbor relations. Ras al-Khaimah has experienced instability over the last few decades and is expected to have more internal problems over the near future. It is not oil rich nor near Dubai, but is an important supply of labor into Dubai.

Financial regulation is somewhat complex in the UAE. The DIFC has its own regulator, the DFSA, and its own civil and commercial laws. The rest of the UAE financial system is regulated by the Central Bank of the UAE, The Emirates Securities and Commodities Authority (ESCA) and the Ministry of Economic Planning (MEP).

The Central Bank of the UAE is granted a general power to create rules governing all matters that fall within its authority. Most of the Central Bank’s power focuses on setting monetary policy and bank regulation, rather than regulating the securities market unless it regards anti-money laundering practices.

There is no formal bond market in the UAE. In order for companies to issue debt, they must list the bond offering on a different exchange (such as the London Stock Exchange), through bond dealers in commercial banks or through private placements directly to investors.

Of the seven emirates in the UAE, Dubai has been hit the hardest by the global financial crisis. The volatile situation in Dubai has affected the whole country and, coupled with a fall in oil prices, the IMF estimate a 3.3 percent contraction in the UAE in 2010. Alternatively, UAE officials have expressed optimism about the country’s future in an attempt to instill confidence in the UAE economy.

The GCC states, seek to become a regional financial hubs. Barriers to achieving this goal have risen as a result of the Dubai World crisis and the UAE’s response. International confidence in the ability of GCC to restructure their debts have been questioned as global investors express concern over issues of transparency, accountability and good corporate governance. At the heart of the issue is the region’s reputation for good governance. An even more serious development is whether such problems are symptomatic of a deeper trend. It is expected that international investors will subject the Gulf states to a far greater level of scrutiny in the future.

UAE government-produced research on the economic outlook in 2009 acknowledged that challenges lay ahead due to the financial crisis and global economic downturn, but emphasizes the country’s strong foundation in which to withstand such challenges. The large current account surplus, estimated at $285 billion (USD) in 2008, and the government’s large controlled overseas assets is expected to shield the UAE from a sharp downturn. However, trade and associated industries are anticipating a slowdown in exports in the future. One positive key prospect from this downturn is the expected decline in inflationary pressures in the UAE due to a fall in soft and hard commodity prices.

Liquidity in the banking sector is an issue that is receiving close attention by government officials in the UAE, as non-Abu Dhabi based banks appear to be undercapitalized following a series of profit falls. The property market, especially in Dubai, is very weak and precipitated by negative sentiment and a short supply of funding. Future construction projects are in doubt as leveraged property firms struggle to obtain new capital. Public-funded infrastructure projects, on the other hand, are expected to continue to experience robust growth. For instance, construction on Dubai’s Al Maktoum International Airport will be the world’s largest aviation hub when finished in 2015.

The UAE government literature emphasized that the government will not let any major firm fail. Furthermore, it was highlighted that most leading firms in major sectors such as property, banking and transport are either wholly or partially government-owned and, as such, their debts have an implicit government guarantee.

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.

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