February 23, 2012

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Make good use of your finances – get a diesel that matches a hybrid

January 30, 2012 By Kai Mistry

Honda’s Civic has to be one of the world’s most popular cars, and the ninth generation – the Honda Civic 2012 – has just gone on sale in the UK, which is great news for those businesses looking for something to splash their finances on.

It’s been eagerly anticipated by Civic fans as across the range the new car is more fuel-efficient than its predecessor. And in these times of crazy oil prices, the more value you can get from your car’s tank of fuel, the better.

There are three engines to choose from in the new UK Honda Civic range. The two petrol engines are 1.4 litre and 1.8 litre i-VTEC engines. They average 44-52 miles per gallon and have emissions around 129 g/km and 137g/km of CO2 respectively. The diesel is a 2.2 litre engine with 150bhp, and can achieve 64-67 mpg and emits just 110g/km of carbon dioxide.

The Honda civic 2012’s competitors include the 2 litre TDCi Ford Focus which emits 129g/km of carbon dioxide and has 161bhp, and the 2 litre TDI Golf Bluemotion Technology which emits 114g/km with 138bhp, so the diesel Civic leads the way on low emissions.

All the Honda Civic models have stop start technology to increase fuel efficiency and reduce inner city pollution, as the engine cuts out in queues and then starts again automatically when the driver releases the brake pedal. There is also the ECON button, which the driver can press at any time to instruct all car systems to function at the eco-friendly optimal level.

Though it’s not possible to get the Civic as a hybrid in the UK or Europe, the diesel’s high mileage and low emissions are putting it on a par with the Honda Insight, a hybrid which can achieve 64.2mpg and emits 101g/km of carbon dioxide.

Filed Under: Finance Tagged With: , , , , ,

Guide to starting your own cosmetics business

January 29, 2012 By Kai Mistry

If you are considering starting up your own cosmetics business then there are several factors that you need to take into consideration first. One of the first things you should consider is where you will base your business and what type of cosmetics business it will be. Will it be a shop or a factory, for example? Will it be somewhere people can come and buy cosmetics or will it be somewhere you will ship cosmetics out from?

You will next need to consider whether you will rent or buy the premises, or if you will have to have the premises built from scratch. If you are renting or buying existing premises, consider whether the location is right and how much business the previous company had if it is relevant. If you are buying an already existing cosmetics business then you could benefit from an existing customer base and existing relationships with suppliers and so on, providing the previous business was successful and reputable of course.

Once a premises and location has been decided upon, you will need to think about the types of cosmetics that you will stock. Will you focus on make-up, toiletries or specialist products such as hair loss solutions? If you are planning to stock and sell hair loss products, it is important that you make sure you use reputable brands such as www.viviscal.co.uk if you wish to build up a good reputation and a loyal customer base.

Finally, to ensure a successful business, you need to make sure you promote your business effectively. This can involve a number of different promotional techniques such as TV and magazine advertisements, social media marketing and of course, good old word of mouth. If you treat your customers well and provide quality products then word will soon spread and you will find yourself with a loyal and growing customer base.

Filed Under: Business Hints & Tips, Starting A Business Tagged With: ,

How to pay less tax when self-employed

January 20, 2012 By Kai Mistry

There are many benefits to being self-employed: being your own boss, deciding on your own work load, working in your pyjamas if you want to! There are unfortunately a few downsides too: no holiday or sick pay, dry periods when the work’s just not coming in and, of course, the dreaded tax returns.

Because the amount you earn from month to month probably varies, sorting out your tax can be a real pain, and it can often feel like you’re losing out big time. However, there are many ways in which you can pay less tax, so it is important to take your time and do it all right. If you can afford it, it could be worth employing the services of an accountant in order to help you.

If you work from home, you are able to claim for the cost of energy bills created by the extra light and heating you have to use, as well as other electric or gas (for example when cooking meals at home). You are also able to claim for things that you have to use in order to do your job effectively, such as laptops or whatever your particular tools of the trade may be.

There are also a few things you should check to make sure you’re not paying above the odds when it comes to your tax. Make sure you are on the correct tax code and investigate whether you are due any tax rebates. You can also take advantage of things like ISAs, in which you are able to invest a certain amount per year, tax free.

Save money in general by purchasing on credit if necessary. For example, you can find a whole range of beds on credit from http://bensonsforbeds.co.uk, allowing you to spread out the cost of large items that you simply can’t manage without.

Filed Under: Business Hints & Tips, Finance, Taxable Income Tagged With: , , , , ,

Stairlifts Improve Business

December 17, 2011 By Kai Mistry

I live in an old spa town where a lot of the buildings on the high street are tall, narrow Georgian or Victorian houses which have been converted into shops. This means that if you are trying to negotiate the busy pavements with a pushchair you are likely to run into difficulties fitting through the shop door ways and you can more or less forget it if you want to browse the items which are upstairs. Older people struggle as well because of the greater strain placed on joints and legs from climbing up and down stairs.

On a recent shopping trip I did however notice that one shop had made a huge effort to improve accessibility to their business by installing a stairlift. Stair lifts are not typically found in shops but this one had taken the decision to meet their customer’s needs in an unusual way and it certainly gave me a really positive impression of the company as well – even though I don’t need the services of the stair lift just yet. It got me to thinking that other businesses should take note and that as well as in shops there are probably other practical uses for stairlifts such as in offices.

Stairlifts are not something which immediately spring to mind unless you personally have mobility issues, but for many people they can make a world of difference. A reputable company who install stairlifts such as Homelifestairlifts.co.uk should always be consulted before making any purchasing decisions. They will always survey your property and advise on the options available to you in order to help you to arrive at the right decision. See stairlifts in a different light, they are not just for domestic use, and consider how you might improve your workplace today – it could make a real difference.

Filed Under: Business Hints & Tips Tagged With: , ,

Biggest internet security threats for your business

December 16, 2011 By Kai Mistry

Running a business of any kind requires decent protection from cyberspace criminals.  If your company doesn’t have a good internet security suite, you are exposed to all kinds of malicious code that could infiltrate your computers and cause havoc to the data you have on there.

The main threats for a small business are;

Malicious code – otherwise known as viruses, Trojans and worms. These can get onto your computers via email attachments, you opening up a bogus website link, through people hacking in… the list goes on. In order to protect your computers at work and the information they contain, then it’s vital to install good antivirus programmes, anti-spyware and firewalls on all the computers in the office.  Don’t forget to include laptops and smartphones that can connect to the internet.  Once installed make sure the programmes are regularly updated, and that you run the scans often. There are free antivirus downloads that you can use; however, these are usually basic versions of the pay-for software and have fewer features.

Stolen laptop or mobile device. Having a device stolen that contains work information can be devastating for a business.  All the data contained on it about your business and customers should  be protected through encryption. Encryption programmes make data unreadable to outsiders who do not have the encryption key or password.

Unsecured wireless networks. A global retail chain was attacked by hackers via their unsecured wireless network and 47 million customers’ financial information was stolen as it had such a basic encryption programme on it. If you have a wireless network at work, it is imperative that it is encrypted by WPA (Wi-Fi Protected Access) and that you change the default password.

Disgruntled employees. There have been cases of dismissed or disgruntled employees taking revenge on their companies and causing havoc on the computer systems. To avoid this possibility, make sure critical functions and responsibilities are divided among different employees, so limiting how much damage an individual could cause.

Filed Under: Business Hints & Tips, Starting A Business Tagged With: , , ,

How concentrated should your portfolio be?

December 15, 2011 By Kai Mistry

If you’re steadily building up an investment portfolio and that includes a few stocks, have you ever asked yourself if there’s an ideal number to own?

A lot depends on your age and how dependent you are for the portfolio to put in a really good performance – and how risk averse you are.

Real estate developers like David Lichtenstein have highly concentrated portfolios – but these are shrewdly under their direct control in areas they have an extremely high knowledge of – and where the assets are just about as solid as you can get.

The theoretical standpoint is interesting; Wall Street trader and investing author Gerald Loeb said investors should put all their eggs in one basket, but also that they should watch that basket carefully. He said that big profits could only be made with a concentration of few investments that are closely watched.

Andrew Tobias on the other hand reckoned this was dangerous as the basket may have a hole in it!

Tobias’s advice is generally a “let the market do the work for you” / long-term type of approach. Meanwhile, Peter Lynch talks about both approaches in “One Up On Wall Street”, urging investors not to rely on a fixed number of stocks, but to investigate how good they are. But he does say that owning just one isn’t a good idea, saying: “In spite of your best efforts, the one you choose might be the victim of unforeseen circumstances…”

He goes on to advise us: “In small portfolios, I’d be comfortable owning between three and ten stocks.”

Overall, this looks like good advice to me. But it all depends how determined to make progress quickly you really are – and how prepared to lose everything you have in taking that risk. Good luck with whatever you choose – but for  me, the tortoise beats the hare in the long run anyway!

Filed Under: Finance Tagged With: , , , ,

Get started in currency trading

December 12, 2011 By Kai Mistry

Consistently successful currency trading isn’t easy – no matter what anyone tells you or whatever system they offer. If they had the winning formula do you really think they’d be writing books about it or organising tutorials all around the country? Of course not, they’d be trading for themselves and making millions doing it like George Soros or some other billionaire trader.

Having said all that, it is very possible to make bucket loads of cash by foreign currency dealing. But it’s also possible to lose it.

And you may be able to learn a lot from the experts. It’s just important to always bear in mind that there is no magic formula.

To be successful takes careful strategy, hard work, self-discipline and a little luck. Your success or failure tends to mirror your personality. Some real swashbucklers make or lose – or both – very spectacularly in this, the world’s single biggest trading market – whilst other steady players make equally steady progress by being a little more careful.

So it pays to always listen to the person you can trust more than anyone else to try not to make mistakes – namely, yourself. It’s also important to know your own weaknesses and to go in with an investing partner who will question your judgement calls.

The best way to get started is undoubtedly to trade 100% safely by opening a demo account only for a while – and then to try out different trading strategies and techniques until you’re completely au-fait with the terminology and the level of trading complexity you’re happy with.

In doing so, try your best to fool yourself into believing your demo account is actually real cash. There’s no substitute for real world experience, but if you practice long and hard enough, it may at least begin to feel like it.

Happy trading.

This article was written by David – a keen financial blogger. He often tries his hand at currency trading in his spare time and enjoys keeping up to date with the latest news.

Filed Under: Finance Tagged With: , , , ,

Tidy Desk, Tidy Mind

December 6, 2011 By Kai Mistry

To the casual observer one office desk looks much like another, but take a closer look and you can tell a lot about the occupant of the workspace by the way they keep their belongings. If you are looking for a promotion, some positive attention from your boss or simply trying to keep on top of your workload then it might be worth paying attention to the messages you could be giving out and making sure your office is tidy at work.

An abundance of family photographs for example could say one of two things: they are the reason you are here and working hard, or perhaps that your mind is elsewhere and you would rather be with your family than at work. A pile of soft toys peeping at you around your computer screen will probably give the impression that you are not taking your work seriously and are on the immature side. Distracting desk toys might say that you are bored and a complete mess hiding the desk itself just simply says I am not in control and cannot cope with my job! If one of these negative vibes sounds familiar then set your office shredder to the shredder confetti cut setting and deal with that backlog of unwanted paperwork double quick. A tidy desk reflects a tidy mind so concentrate on regaining control as soon as you can.

UK shredders are some of the best models in the world so put yours to good use by destroying sensitive documents and outdated files. Filing is a tedious but important way to keep track of your business dealings so catch up over the festive season whilst the phones are not ringing and start the New Year with an empty in-tray. Give a great impression by tidying your workspace up and feel better about being there too – everybody wins!

Filed Under: Business Hints & Tips Tagged With: , ,

Diversify or die

November 23, 2011 By Kai Mistry

You’ll often hear it said in investment circles that you need to “diversify or die”. It isn’t always true, but it’s a sound strategy for any business. Let me explain…

If you’re hell-bent on trying to get rich quick, then diversification probably isn’t your best strategy.

It’s like betting on horses in a race. If you really want to gamble, you pick one that you think has a great outside chance and you gamble everything you can afford to – and the beast either wins and you’re living in clover or (far more likely…) it doesn’t and you’ve slid down the snake back to square one!

If you really want solid, continued success, though – you need to diversify. One trick ponies can go out of business all too quickly, whereas businesses with more than one string to their bow that are constantly adapting to change – can survive for the long term. It’s rather like a car; it runs best when all four cylinders are firing well, but it can limp along quite happily on two in a pinch.

There are examples when this may not be the case. If you’re in the business of supplying an absolute staple that simply can’t go out of demand, then it’s perfectly legitimate to concentrate on supplying it as well and as cost effectively as possible. If you’re running a supermarket or a water supply company or something similar, you may not need diversification. But even then you may face a complete “Black Swan” event that wipes you out overnight – or comes close to it.

But for most of us, diversification is sound business practice. As David Lichtenstein’s Lightstone Group has proved in its diversified approach to real estate – it works well over time. The company is unique in the industry, seeking superior risk-adjusted returns through careful portfolio diversification. In fact, it owns one of the most diversified real estate portfolios in the entire industry.

Diversification is a proven strategy for success. It also helps you sleep well at night!

Filed Under: Business Hints & Tips Tagged With: , , ,

Never Mix Business with Pleasure

November 11, 2011 By Kai Mistry

It is an age-old saying but nevertheless it is still pertinent in today’s business environment. Blurring the lines between professional and personal relationships is always a tricky thing to do, and where possible it should often be avoided. One of the decisions to take very seriously is whether or not to go into business with a friend or family member in the first place, as this can sometimes lead to difficult outcomes.

If this is a situation which sounds familiar then don’t run screaming from the scenario until you have thought it through from every angle. Some of the most successful companies out there are run by husband and wife teams, best friends or extended family groups. Who hasn’t heard of a company called ‘So-and-so & Sons’? A family business can be an amazing way to keep generations close.

The best way to ensure that all parties are entering into an agreement with their eyes open is to make sure you have general agreement on all the fundamentals of the venture. I am not talking about lengthy arguments around which brand of confetti cut shredder to purchase for the office, but vital discussions on the overall vision for the business. One of the key points to discuss is always the exit strategy, and many people forget to do this: when are you planning on retiring/selling or winding up? Everyone needs to be on the same page with this one or there could be trouble ahead.

Paper shredders will be the least of your worries if that happens so make sure the parameters within which you are operating are fully defined before you embark on the adventure of running your own company. As with many things in life, preparation is key so get it right and you can all reap the rewards for years to come

Filed Under: Starting A Business Tagged With: , , ,
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