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How to Get the Most Out Your Business Trip to Australia

June 26, 2019 by Reporter Leave a Comment

When making a business trip to Australia, you may wonder how you can make the best out of your journey. If you take care of the following concerns, it may be easier for you to make your business trip to Australia a thrilling event.

Organise Your Schedule

While travelling to Australia, there is a need to have an order to prevent unnecessary anxiety. Have a clear hierarchy of events so that nothing may overwhelm you as you take part in the trip. This will ensure that you get the best out of your business trip to Australia.

Consider Renting a Car

While on your trip you will need to have transport facilities. It is necessary that you get the most convenient means while remaining within the scope of your mission. Hiring a car will be an excellent way to solve your transport of issues. Remember that people in Australia drive on the left side of the road. Also, in Australia, there are many private car transport companies. Don’t forget to have a plan for any accidents on the road as well!

Online Services

Business trips, in most cases, do not give you too much time at your disposal. Instead of taking everything personal, try making an online booking to save on time and costs. Doing this will ensure you do things quickly and avoid moving around. You may get lost and end up in the headlines. Take advantage of technology.

Use Corporate Apartments

Hotel rooms have been used for many years to solve accommodation issues. Though while in your business trip to Australia, you may consider a better provider of this service. The corporate residence will give an assurance of personalised services which can suit your business trip. It will also be quite adventures having an out of hotel experience.

Money

Monetary issues are quite fundamental in most aspects of human life. In your trip, you must also be in a position to understand this vital determinant. What is the worth of your currency compared to that of Australia? You may need to have your cash exchanged to the local currency to make your work easier and trip enjoyable. It is also wise to have enough money for your trip.

Kill Two Birds with One Stone

You can try solving most of your problems using one service provider. Most companies nowadays have linked services. The corporate apartments may also have car rental services etc. Try answering all your questions using one service provider to help boost your bargaining power and ensure quick and timely transactions.

Seek Necessary Information

While on your trip to Australia, try knowing more about the country, its culture, the dos, the don’ts, and the untouchables. It will help you understand how to behave and respond to specific issues. It will also prepare you to know what to expect outside the scope of your trip.

Have Plans to Explore the Locality

Australia, like many other countries, have a lot of things peculiar about them. The cultural practices, the animals, and the natural aesthetics will be of great benefit to your adventurous impel. Get out of the tight and official schedule and have some fun. It is necessary to give yourself a little holiday on the trip to relax and create some memories.

The above golden tips will add more fun to your trip to Australia, and you will have a memory preserved. You can mean business and not spoil anything with some fun. Enjoy Your Trip.

Paid invoices make the world go around

January 29, 2019 by Reporter Leave a Comment

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_{Photo by Mohamed Hassan / CC0 1.0}

Late payments are the bane of a business owner’s life. They limit cash flow and prevent you from paying your own bills. In the aftermath, suppliers feel disgruntled, your stock runs low, and perhaps you can’t pay your employees. Whatever the effects, it’s safe to say, they’re not pretty. Unfortunately, this is something that typical business insurance policies don’t cover.

So how do you deal with late paying customers and clients? We’re glad you asked because there are a few simple measures you can take to protect you and your business.

Discuss terms upfront

Before you provide a service or a product, make sure that your customer or client understands the payment terms. Some business clients assume that they have 30-days to make payment while others may even assume they have three months. Be sure to clearly outline how soon they must pay so they can budget accordingly.

Ask for 50% deposits

Some service providers ask that their clients make a deposit of up to 50% of the full payment before they carry out any work. This 50% should ensure that your own expenses are covered and allows you to pay your employees or suppliers on time. Not all clients or customers will agree to this, so again, be upfront and honest about your plans.

Make late payments fees part of your terms

Late payment fees are a great way to discourage clients from taking advantage of the line of credit you extended. Once this is clearly outlined in your original payment terms, then they can have no complaints when you charge them extra for being late. Ideally, you’ll never have to charge them as this is more of a deterrent than anything else.

Offer discounts for upfront payments

A 5% discount for full payment upfront is a nice benefit that many of your customers and clients will jump at. While you may make a bit less on the deal, the security of having that payment upfront is well worth the cost. Just ensure that the discount doesn’t mean you lose money on the deal. No need to be too generous!

Consider a short-term loan

If all of your measures to limit or prevent late payments have failed, then you may find yourself in a position where cash flow is low and paying your own bills or employees’ wages is a struggle. In this case, a short-term loan could be the solution. Even if your credit score has taken a beating due to matters outside your control, a short-term lender will still be able to help you. While it’s not an ideal scenario, it does provide you with a safety net of sorts should your clients fail to make payment on time.

Don’t offer credit

This is the toughest one of all but the most effective. If you set a policy that all services and products must be paid for upfront, then you’ll never have a problem with late payments. You may feel like this isn’t possible, but it’s your business, and you can set your own terms. If you are providing high-quality service that guarantees satisfaction, then your clients and customers won’t think twice about paying upfront.

Unfortunately, late payments are part and parcel of business life. Dealing with them could be the difference between staying afloat and shutting up shop. So take a moment to consider the tips outlined above before agreeing to providing a service without upfront payment.

Tighten Your Belt – 5 Secrets to Creating a Stable Financial Future

July 15, 2018 by Reporter Leave a Comment

Photo by Vitaly Taranov on Unsplash

It can sometimes seem impossible for low-income households to get ahead in today’s economy. Financial pressures can have a debilitating impact on your life. Too many families are familiar with the pattern of purchasing only the bare necessities, putting off replacing broken appliances, and spending all their time commuting to and from jobs that pay too little and ask too much. The economic hamster wheel leaves little opportunity for saving, or to enjoy your daily existence. The following are a few creative, yet simple ideas to help you get a handle on your financial stress and get back to loving life.

Wiggle Room

Unfortunately, lower-income families can find it nigh impossible to access credit with mainstream lenders. Locked out of the market, many turn to high-interest options such as payday loans for a lifeline that ends up being a deadweight around their necks. Fortunately, a growing number of government agencies and not for profits are offering interest-free loans for people on low incomes, to spend on necessities, like home appliances, or car insurance. Sometimes that wiggle room is all you need to ease yourself of some of that stress.

Master Chef

The ease of ordering takeaway in our modern society means a lot of money can quickly disappear on food. Yet it’s cheaper and healthier to cook your meals at home. All you need to do is change your perspective on meals preparation. Instead of a chore, transform it into a fun-filled activity. Numerous celebrity chefs that have a wealth of cheap, easy recipes that turn into delicious meals. So, get a quick recipe online, put on some music, and turn it into a joyful ritual. Get your family involved, and make preparing the meal just as enjoyable the meal itself.

Saving Grace

It’s hard to think that a small amount of money set aside every day can make a significant difference in the long run. However, with a bit of discipline and patience, you will be amazed at how much it can add up to over time. Even as little as 50 cents a day, or 10 dollars a week squirreled away into a dedicated savings account you don’t regularly check, your long-term savings can really start to grow. If you can’t get yourself into the habit of putting the money aside, there are apps that can do it for you, all at a rate you’re comfortable with.

Free Entertainment

Just because the budget is tight doesn’t mean you have to skimp out on cultural activities. You can spend hours wandering around free museums, markets, and historic buildings. Your local backyard is someone else’s tourist daydream. Check out the tourism travel page for your local city and see what they recommend is a must do for free. There are always plenty of ways to entertain the family without having to fork out hundreds.

Au Naturale

Whatever the weather, whether you feel like lazing around or getting active nature has you covered. Plan a trip to the beach, and spend the day lazing on the sand. Alternatively, plan a trip to the hills and go for a hike. Getting out of your four walls and enjoying nature has many mental health benefits, and it doesn’t cost a cent. Even if you end up doing precisely what you were planning on doing inside, such as relaxing with a book, or tapping away on your computer, if you do it outside, you’ll feel much better for it.

Having money problems doesn’t have to take the joy out of life. Cheap activities are still fun activities, and clearing your head of stress can help set you up for a financially stable future.

Is It Easier To Conduct Business Across International Borders Today?

October 10, 2017 by Reporter Leave a Comment

Years ago, international business was something only the largest organizations could partake in. After all, it required a great deal of resources, something only businesses like Shell or Coca-Cola had. However, in the digital age, it’s considerably easier for even tiny home businesses to conduct global operations. Let’s have a look at some ways in which international business is easier now. Let’s also look at why so many organizations are opting for this option.

The Internet has made it easier for small companies to trade globally

As the introduction stated, it was once too prohibitively expensive for companies to think about trading internationally. However, thanks to the internet, you often don’t even need to be physically present in a country in order to do business there. It is now far easier to manage an international business without visiting the place in question, thanks to software like Skye, as well as Wi-Fi connections that have never been faster. So, expensive travel doesn’t even have to be on the cards anymore. Plus, services like PayPal have simplified the payment method along with iComparefx being a world first international currency conversion and money transfer services.

All of this coupled with the fact that shipping is much faster now, means that global trade is now within the reach of the smallest organizations.

A more diverse audience

Cultures used to be a lot more distinct in the past. However, with the rise of the global mass media as well as the Internet, these cultures have started to blur around the edges and are becoming more homogenous. Western culture, especially, has influenced countries around the world, so that you’ll find Western clothes and movies everywhere. This means that a company’s audience has already increased, and you should be able to find ready buyers beyond your own country.

By expanding to include more people in your audience, you’ll also be able to produce more units. This will allow you to take advantage of economies of scale, since your cost per unit will lower when you produce more units. Thus, you can increase your profit margins.

There’s less competition abroad

If you’re a small business, you’re likely to be competing with a great many other similar organizations. This is a factor that has led to many businesses moving abroad to make use of economies that have heretofore remained unexplored. Since there will be less competition there, your business will have a larger chunk of the market. Plus, if demand for your product slips in your own country, you can simply make use of another market where demand is still relatively higher. This way, you can continue making high profits even when your sales are in a decline back home.

You can hire people around the world too

Companies now often also go global because of the ease with which they can hire employees that they’ll never even physically meet. The internet has created an economy of freelancing, which can allow you to get projects completed at lower rates instead of having to employ full-time staff.

Possible bearish reversal in silver as resistance cluster ahead

June 19, 2017 by Reporter Leave a Comment

After the long bearish ride in the silver, the initial bottom is formed near the critical support level at 16.09.The professional silver trader made a decent profit by riding the long bearish rally in the market. The global market has been facing an extreme level of uncertainty in the recent days and trading CFD has become extremely difficult as the investors don’t have any clear clue regarding the next movement of the mighty U.S dollar. The U.S dollar index has fallen sharply in the ground after Mr. Trump failed to keep his promise regarding fiscal spending and tax cut policy.

Technical analysis of silver in the 4 hour time frame

Figure: Silver heading towards the 17.35 level in the 4 hour time frame

From the above figure you can clearly see that the price has bottomed near 16.09 mark and after that, it has started its correction. The price has nicely retraced back above the 38.2 percent Fibonacci retracement level and now currently heading towards the 50 percent retracement level. The professional traders have been trading CFD with an extreme level of caution nowadays since the price of a commodity is now showing wild momentum in the market very often. However, the investors are not staying on the sideline rather they are making the best possible trade in the volatile market.

U.S economic conditions: The performance of the U.S economy is not that great in recent days as most of the leading investors are in doubt regarding the next movement of the green bucks. The green bucks have lost most of its bullish strength in the global market after Mr. Trump failed to keep his promise regarding the increase of fiscal spending and tax cut policy. According to the leading economist, the green bucks might face an extreme level of bearish pressure in the upcoming days as Mr. Trump administration has done very little for the welfare of the U.S economy and made trading CFD extremely difficult. The U.S dollar index which is the overall value of the green buck’s strength in the global market has dropped from its 14 years high in the global market and allowed the price of silver to rally higher. Despite such weak performance from the U.S economy, the optimistic dollar bulls are still in hope that the green bucks will be back again to its former glory upon the interest rate hike decision made by FED chairperson Janet Yellen.

Expectations in market movements: Though the price of silver is rallying higher with a strong bullish momentum in the global market most of the leading investors are thinking that the price will ultimately cap down by the 50 percent Fibonacci retracement level drawn on the daily chart. Moreover, the price has started showing exhaustion candle in the daily time frame which is a very clear indication that the bulls are running out of steam in the global market. Though the overall sentiment for the price of silver remains extremely bearish at the current moment a clear break of the 61.8 percent Fibonacci retracement level will confirm the initial bottom formation in the long term bearish trend in the market. To be precise this will inaugurate the fresh bullish trend in the price of silver which will ultimately dominate the market for at least couple of weeks.

Summary: The price of silver is now trading near a critical zone and the professional traders are cautiously waiting to short the silver to trade in favor of the long-term trend in the market. Though the market is exhibiting a tempting short opportunity the traders should be extremely careful since it might even start a fresh bullish trend in the upcoming weeks. So make sure when you execute the trades in the market you follow proper risk management factors to save your trading capital.

Treasurer Scott Morrison slams banks for not passing on full interest rate cuts

August 3, 2016 by Reporter Leave a Comment

Australia’s Reserve bank has reduced interest rates to a record low, cutting its cash rate from 1.75% to 1.5%. while the reserve bank board and government hopes the further cut will boost the labour market and economic growth, the banks are not entirely supporting this.

Banks in recent times have either not been passing on the interest rates reduction fully or delaying passing on reduction in mortgage rates , in the process making millions of dollars while they delay.

The big four banks caught most people off guard by actually lifting some key deposit rates and increasing their revenue.

Commonwealth Bank will cut its standard variable interest rates for mortgages by 0.13 percentage points. The biggest major bank reduction was Westpac’s 14-basis-point cut for some of its home loan customers

· Commonwealth Bank by 0.12 percentage points

· ANZ by 0.12 percentage points

· National Australia Bank 0.10 percentage point

· Westpac Bank by 0.14 percentage points

Treasurer Scott Morrison Yesterday told Sky News "we would like to see them pass all of these things on".

"What we’ve seen from at least the two that have made a decision is not the traditional response," Mr Morrison said.

"It’s not like they didn’t pass it all on and did nothing else. What they’ve done is they’ve cut their mortgage rates and they’ve increased their deposit rates."

Mr Turnbull said the cuts were not enough. Addressing media in Canberra, he said the banks should pass on the rate cut in full or explain the decision "fully and comprehensively" to their customers

RBA governor Glenn Stevens said in a statement recent data suggested growth was continuing at a moderate pace, despite a big decline in business investment.

Tuesday’s board meeting was Mr Stevens’ second last. He will be succeeded on September 18 by his deputy, Philip Lowe.

When money transfer is right !!

June 8, 2014 by Reporter Leave a Comment

Foreign exchange and money transfer will always exist because they will always be migrants in all countries and there will always be people who will send money home.

Currency fluctuation means there will always be room for people to either make more money or lose money either by trading or then just sending money home to your loved ones or family. Choosing the correct moment when it’s favourable to send money can benefit you and actually increase the money that you are sending to the other person.

The FX trading industry related to foreign exchange industry is actually bigger than the stock markets due to trading being available in these markets 24/7.

How to send money overseas or do foreign exchange transfer

1. Transfer money through bank – Now days most bank’s allow you to transfer money either to their overseas branch and also to other branches overseas. The banks usually charge a fee for doing this foreign exchange transaction, which could either be a percentage or a transfer fee. This process involves having to get special codes or transfer codes ( IBAN, NCC, sort code or BSB number) from the receiving country bank account and it can take a couple of days to process.

2. Transfer money through a private foreign exchange agency – They are many foreign exchange agencies ( Western union , Travelex, Local Exchange agencies ) that allow you to transfer money almost instantly nowadays to a person in another country. Transferring of money via a money transfer agency nowadays can be done instantly with the person on the other end receiving the money almost instantly if they possess the predetermined code the payer will give them to receive the money.

3. Telegraph Transfer – A Telegraphic Transfer is another method of transferring money overseas. This method is now fast becoming out-dated with newer and quicker methods becoming available.

Travellers cheques is another safe way of carrying money overseas or transferring money overseas and is often used by tourists when travelling. Transferring money via mobile and PayPal is another modern money phenomenon that’s taking over money exchange industry.

Many money transfer agencies have now started offering to transfer money online without your having to actually go to a foreign exchange or money transfer agency. The actual process of doing money exchange online can be quite simple, often just including a quick 3 step process

1. Select currency & amount
Confirm rate & add recipient

2. Pay money online
BPAY or electronic bank transfer

3. Track progress online, email / SMS
Money received

People transferring money overseas should always check the veracity of the transferring agency and if they meet the local registration and licensing requirement of the country from where you are sending the money.

It is also wise to check the exchange rates that your get for the currency you are exchanging to and transferring to, as sometimes different agencies offer different exchange rates and often you can get short-changed if the rate is not in your favour.

Foreignexchangedandenong is a foreign exchange and money exchange and transfer agency in Dandenong that provide you with these services.

Housing price growth in Australia is over

May 1, 2013 by Reporter Leave a Comment

Price rises in the Australian housing market have slowed, according to new reports, and they won’t show any signs of picking up again in the near future.

In an important speech to the Citibank Property Conference in Sydney last week, the Australian Reserve Bank’s head of financial stability Luci Ellis said that home prices in Australia are likely to grow more slowly than they have for the past 30 years.

She stated that “trend housing price growth will be slower in future than in the previous 30 years”, and is unlikely to rise rapidly again.

House prices are definitely rising – but not “booming”

These new statements from the Reserve Bank come just a month after the latest RP Data-“Rismark Home Value Index” showed that capital city house prices rose by 2.8 per cent on average in the March quarter of 2013 – the strongest quarterly result in almost three years. According to The Australian, this slow rise can also be seen in both the Australian Bureau of Statistics’ established house price index, which rose by 2.1 per cent, and its consumer price index, which rose by 2.2 per cent throughout 2012.

However, RP Data research director Tim Lawless admitted that we are unlikely to see such growth rates continue throughout the year, with growth likely to normalise over the coming months.

What’s to blame for the slowdown in housing price growth?

In the late 1990s and early 2000s, the low-inflation targets imposed by the RBA meant that consumers could borrow around twice as much as they previously had been able to. This in turn contributed to the huge rise in home prices and housing price problems in australia that was observed during this period, both in absolute terms and relative to consumer income.

However, now that this inflation-targeting period is over, housing prices are believed to have leveled off to a “new normal”, according to Dr Ellis.

What does this mean for potential homebuyers or investors?

Those scoping out new home loans for a home or investment property may be wondering what this latest news means for them, and the answer may not be such a positive one. In her speech, Dr Ellis suggested that these slower growth trends in housing prices meant that total returns on rental properties would fall, and that today’s homebuyers would most likely not receive the same capital gain on the family house as the previous generation did.

The Reserve Bank also warned that a slow housing market may see more periods where house prices actually fall, meaning that both purchasers and financial institutions should be cautious of borrowing or loaning a high percentage of the purchase price of a new home. This is so borrowers can try to avoid a situation in which their outstanding loan is larger than the actual value of their home – or what’s known as negative equity. The RBA is also opposed to banks lowering their lending standards to try and incentivise borrowers and boost loan growth and profits.

While a downturn is possible, there’s a low possibility of a property price crash

Those worried about the property market ‘crashing’ shouldn’t be – it’s unlikely that the price of property will crash any time in the near future, even though the RBA says that a downturn is possible. Ellis said that the RBA was “pretty sure that the boom we saw in the early 2000s managed to end with a fizzle, not a bust. So we don’t expect a sharp reversal from a starting point described by the situation we face now.”

Those interested can read Luci Ellis’s full speech here.

POLITICS OF A RATE CUT

February 7, 2012 by Reporter Leave a Comment

Damned if you do , Damned if you don’t, pardon my English but that seems to be the situation with rate cuts , RBA and banks.

RBA today kept the cash rate on hold with no changes to stay at 4.25 per cent

The politics of rate cuts ,Banks and Media bashing

The situation is getting out of hand come every time when the RBA has to make a announcement for rates to increase or decrease. ITs become a big media circus come every rate announcement by the RBA , Banks get thrashed even before a rate announcement is made and held guilty , analysts and economists have a hey day predicting what they think will happen , and the media adds to the frenzy by amplifying all the news with wicked twists to their benefit having a go at banks, Lenders and raising a ruckus giving banks much negative publicity .

Luckily punters took a sigh of relief this time, as they was no rate increase.. but nor did people get a discount as well. The RBA did not heed any economists prediction or media hearsay and chose to do what they though was right and let the rates stay the same

RATE Stays Put while banks stay neutral

The rates staying the same has put the banks in a bit of a predicament, while they raised the gauntlet last time (ANZ) saying they will wait a bit before they decide how they react to the rate announcement . RBA by not changing the rates have not given them an excuse anyway. Its is going to be a tricky situation for the banks , because the first bank to pass on a decrease always sticks in the mind of the consumer as a good bank.

The waiting game if pursued by the banks could be the difference between good PR and Bad PR for the Bank. . So we will wait for the next rate announcement . Until then good luck for the next rates announcement by the RBA.

Predictions by media

February 07 –

Reserve Bank is tipped to cut the official cash rate to 4 per cent today _ Herald sun

Reserve Bank board meets this morning in Sydney to consider whether to cut the official cash rate a further 0.25 points to 4 per cent- theage.com.au

The Reserve Bank of Australia is tipped to cut the official cash rate to 4 per cent at 2pm today.- http://www.theaustralian.com.au

Punters believe Reserve Bank will cut, but banks won’t pass on in full – www.news.com.au/my

Rates

How to Get the Most Out Your Business Trip to Australia

Organise Your Schedule

Consider Renting a Car

Online Services

Use Corporate Apartments

Money

Kill Two Birds with One Stone

Seek Necessary Information

Have Plans to Explore the Locality

Paid invoices make the world go around

Tighten Your Belt – 5 Secrets to Creating a Stable Financial Future

Is It Easier To Conduct Business Across International Borders Today?