financial

04/03/2023 By Jason Bean Leave a Comment

How To Promote Sustainability as a Small Business Owner

When you start a business, you should ensure that its practices reflect your values. If sustainability is important to you, you can take steps to reduce your company's environmental impact while maintaining profitability and building a positive reputation. Today, Bnpositive Communication and Design shares some tips and resources to help you get started.

Prioritize Sustainability From the Start

You can make environmental responsibility central to your business from the beginning. When developing the idea for your business, research various sustainable options. For example, you can open a shop that sells eco-friendly household goods or start a company that offers green landscaping services. Look into your local market and find a niche that matches your skills and interests.

When creating your business plan, include a mission statement describing the purpose and goals of your company. A business plan should also describe the structure of your company. Forming an LLC is a good idea because you can limit personal liability while still being a flexible small business with simpler taxes and manageable paperwork.

You should research your state's unique regulations because the rules can vary. Save money by filing your own paperwork or using a formation service instead of expensive legal services. However, not all formation services are the same, so check reviews to make sure you’re getting the best deal.

Create an Eco-Friendly Workspace

Whether you work from home or operate your business from a separate building like a store or office, you should try to create a green work environment. For example, research shows that leaky faucets and running toilets can waste gallons of water daily, so you should not procrastinate repairs in the washroom and kitchen.

Also, if you’re involved in ecommerce, it’s obviously very important that your customers be able to browse and purchase from your site with ease. Luckily, you can try this platform and help to streamline the process for all involved, thus increasing customer satisfaction while maximizing efficiency.

In addition, you can encourage recycling by placing bins in convenient locations, such as near the printer or copier. You should also invest in reusable office supplies, like pens that you can refill. When buying furniture, look for second-hand and refurbished pieces. You can even use recycled materials and indoor plants to make your decor reflect your values.

Digitize and Reduce Paper Use

Paper may not seem expensive, but it has a significant environmental impact. Your business can take steps like using double-sided printing and unsubscribing from mailing lists to reduce paper waste. Digitizing documents and records can also help you use less paper. You can find digital alternatives for tasks like bookkeeping, maintaining records and sending faxes. You can also use paperless billing and invoicing. Select a pre-made invoicing template and add custom colors and a logo. Make sure you include your business's name and any relevant text. Then, you can create an invoice template that is consistent with your brand.

Improve Energy Efficiency

Making energy-efficient upgrades is good for the environment and your business's finances. You should shut down electronics and other energy-drawing equipment when not in use. Furthermore, consider replacing your lighting with more efficient LEDs. You can also significantly reduce your heating and cooling costs by fixing windows, sealing leaks and adding insulation. Keeping your HVAC system clean and well-maintained is a good idea, too.

Promote Your Green Values

Surveys show that customers value sustainability and look for companies with eco-friendly values. Featuring your green practices in your marketing and branding efforts can help you reach consumers whose environmentalist values align with your own. You should use recycled and sustainable materials when possible. Communicate the steps you take to reduce consumption and lessen your impact. Finally, listen to feedback and be willing to look critically at the entire supply chain that impacts your business.

Sustainable business practices, from energy-efficient building upgrades to paperless digital invoices, allow your company to make a difference. You can make eco-friendly changes while growing your business and your brand.

Bnpositive Communication and Design has been helping businesses and individuals with their technological needs for over 25 years. If you have any questions, feel free to reach out!

05/18/2018 By Jason Bean Leave a Comment

Insurance Coverage No Business Should Be Without

You insure your home with the best First American Home Warranty, now it’s time to insure your business. Whether you are a one-person shop or a corporate conglomerate, you must make certain you are protected against any foreseeable or unforeseeable incident. One thing goes wrong, and you could lose it all. You didn’t work this hard to build your entity to have it gone at the drop of a hat, so make certain you have all the coverage you need for you and your employees, while also you can use software like a pay stub generator to manage your payrolls as well. Here is a list of insurance coverage no business should be without, but before you continue make sure to add full coverage car insurance to the list since it isn't mentioned. Having a business like a restaurant or hotel that offers valet services can be huge risk depending on the type of car that comes up.

General Liability

The U.S. Small Business Administration explains that general liability insurance protects your business against a monetary loss for any number of reasons. Included under the general liability umbrella are bodily injury (slip and fall, for example), bond/judgment settlement, lawsuit defense, libel/slander, medical expenses, and property damage. Don’t go without this broad protection.

Commercial Property

If you own commercial property, including equipment and machinery, make certain to protect it with commercial insurance coverage. Much like your home insurance policy protects your home and its contents commercial property coverage mitigates damage and/or loss due to fire, theft, vandalism, and weather damage. If you need additional earthquake and/or flood protection, get it.

Home-Based Business Coverage

Entrepreneur magazine brings up an excellent point. Many home-based businesses forget to add business insurance to their homeowner’s policy. If you have business equipment in your home, such as computer equipment, fax machines, printers, and tools or other machinery, you need to secure additional coverage to protect them. Make certain your home-based business is protected in all areas. You may also want to consider adding a quality home warranty to your plan as well.

Professional Liability

If what you do could directly affect your client, you may need professional liability insurance. Also known as errors and omissions insurance, professional liability protects you and your business against your own mistakes. If you’re a CPA who makes a costly error on a client’s tax returns, you may be held liable for the mistake. This insurance protects you against your resulting financial loss.

Workers’ Compensation

No business should be without workers’ compensation insurance if it is required by law to carry it. For example, Washington state law requires nearly all employers to carry workers’ compensation coverage, so Seattle business insurance packages should include this. Check with your state’s insurance commission to see how much workers’ compensation coverage you must hold. Any injured worker may consult with a personal injury lawyer to be guided on how to seek the compensation they are entitled to.

Product Liability

Finally, if you work in some sort of product manufacturing, you’ll want to get your hands on product liability insurance. If your product has the potential to harm someone, you must protect yourself against potential legal action. Imagine a toy part you manufacture fails and children are injured or worse, your product liability coverage will protect you against any damages you may incur.

Never go without the business insurance coverage you need. Even if you work out of your home, you must protect your equipment against damage, loss, or theft. You might even consider insurance to cover your expenses in the event you cannot operate for a time. Can you afford to close your doors unexpectedly? Make certain that you stay in business no matter the incident. Whether a slip and fall or natural disaster, if you’re covered, you’ll be able to make a claim and keep your business running.

10/30/2014 By Jason Bean Leave a Comment

Careers in the Financial Sector

The financial sector is one of the most lucrative and diverse career sectors, which is why many people decide to build careers in finance. Working in finance can range from working as an accountant at the APM Accountants firm or a similar company or service, to working for a small business or being the director of financial operations for a multinational investment bank.

A career in the financial sector appeals to many people because it usually guarantees an excellent salary in a very secure environment. Although we do sometimes hear of major banking collapses that result in many job losses, overall, people who work in finance are guaranteed work.

Another advantage of working in finance is that businesses are always seeking the best employees. Individuals who specialize in specific areas of finance can demand much higher salaries. Finance is one of the few areas where people are still "head hunted" by recruitment firms; it is common for the most experienced and successful financial managers to move from one company to another for a better benefits package.

Investment management

Without doubt, investment management is one of the most popular areas. This part of the financial planning industry is huge and employs hundreds of thousands of people and although most jobs are within the major financial centers of the world, there are many opportunities within smaller, local investment companies.

Investment management involves the active administration of an individual's or company's assets, usually in the form of shares, bonds, and cash, although it can also include property, art, and business. In addition to investment management, individuals may also start planning their estate with the help of an asset protection lawyer.

Investment management covers many types of work; it includes personal finance, private client fund, portfolio, and corporate investment management. Both individuals and large companies need to have their investments well managed to maximize capital gains and income. For more finance related post, read here about how the best bad credit loans guaranteed approval services.

Larger companies offer a wider range of career opportunities than smaller firms do, and many people leaving college can easily find work in companies such as Goldman Sachs, Morgan Stanley, and JPMorgan Chase. However, although it is much easier to obtain a role in larger companies, it is also much harder to climb the corporate ladder.

For those who are eager to develop a successful career in which they will have opportunities to become key players within the business, the better option is often smaller investment management firms or starting your own business with a business loan for some financial support. Many people have success by taking this route and the most intelligent and skilled staff are more often promoted to management.

One downside of working in the front line of investment management is that the work is often heavily focused on growing client assets, and this can result in a stressful environment, especially when the global markets are performing badly.

Commercial banking

Commercial banking is often the first consideration when deciding on a career in finance. Commercial banks provide most people with their first experiences of banking and investment.

Working in a commercial bank usually involves the most direct client-facing work in any area of the finance sector. Career opportunities exist in work as bank tellers, mortgage and loan officers, business banking, marketing, and branch managers.

For many people, the biggest advantage of commercial banking is that it provides opportunities in almost every town and allows people to work close to where they live and thus avoid lengthy commutes or relocation to a major financial center.

Investment administration

For every investment management team there is an investment administration team. Such teams are often referred to as the "back office" because rather than acting in a client-facing role, they support investment managers, dealers, and client service representatives.

Large investment banks employ thousands of people in administration to cover roles, including fund pricing and accounts, trade matching and settlement, dividend collections, and corporate actions. All of these roles offer the opportunity to rise to floor management and director level.

Although the salaries will never be as high as they are in investment management, the career prospects are very good and because the work is not geared so much to profits the work is less stressful.

Corporate finance

Corporate finance has many similarities with investment management but instead of managing client funds, a corporate finance officer is concerned with the company's financial health.

This can involve managing the company shareholdings but more often involves finding and managing capital investment to help the business grow.

Corporate finance also involves managing the company's financial strategy, and preparing accounts and statements, including compiling financial data for annual reports and working with auditors. Corporate finance is a challenging and rewarding career and many people working within corporate finance feel more in tune with their employers than those who work in investment management.

Whichever area of finance an individual chooses, many different career paths are available once they have the proverbial foot in the door. The finance sector can provide good job security, excellent pay, and other benefits.