fbpx

Ways you can fund your new business venture in retirement

Retirement doesn’t mean stopping.

In fact, many retirees are considering continuing working after they retire, and this may well include the formation of a business. It’s a challenge, but to some it is preferable to spending days relaxing.

This article isn’t about whether or not a retiree should start a business. Instead, we’re going to focus on how you can gain funds to help start a business in retirement.

This is probably one of the ‘fears’ that prevents people in this stage in their life from taking the plunge. However, it is possible to get some money in place to start and maintain a profitable business after retirement.

We’ll take a look at several of them.

Ways you can fund your new business venture in retirement

Downsizing

A relatively new term, ‘downsizing’ allows you to release money in the sale of your property. Normally, downsizing means moving to a new, smaller property, and enjoying the equity you’ve released alongside that.

This is an interesting situation, because downsizing does indeed release funds through selling. However, you obviously have to live somewhere, so much of the downsizing profit may be spent on living expenses.

There may, however, be some money there afterwards that can be spent on pulling together your business. It is again a good idea to sit with a finance professional who will be able to tell you, realistically, what you can expect to gain from downsizing, and whether the amount of money will cover business expenses.

Spending the kids inheritance

This has become a growing trend in recent years. Rather than spend money on the future of their children,some retirees opt instead to spend it on themselves.

This has become more popular as people live longer. Money that has been saved up or has reaped returns on investment is simply used by the parents for other purchases. And these purchases are all about the parents, not the kids.

Using this money to start up a business is perhaps something new. The whole point of spending the inheritance is to enable a better standard of life. Many retirees take that money and go on a long holiday, for example. However, it is possible to use it to fund a business.

Whether that fits in well with a retiree’s own views on what they want from life is up to them. But if it is a large sum (and most parents now save up a lot for their future generations) it can be used very effectively to develop a business. For example, it is accepted wisdom that you shouldn’t start a business without ‘buffer money’. Buffer money is money you have ready for the first six months of the business.

Business can be challenging. If you are able to gather a good sum of money to protect against the ups and downs of business for those vital first few months, you’re in a great position. Of course, this option is appealing because you have more control over how the money is spent. If you just want to use a small amount of the money to fund one key aspect of starting a business, that is entirely up to you.

Equity release

Equity release is a situation where the borrower can take out an equity release contract, which releases money that is equal to up to 60% of the value of your home.

This can mean you can take on a potentially large amount of money very quickly. There are a couple of options in equity release that you can take advantage of. This is encapsulated in two products available to you, the borrower:

  • The lifetime mortgage. This allows you to take money out against the value of the property.You have to be at least 55 years old to do this. One key aspect that makes this option an attractive one is the option to pay off all the interest, some or even none of the interest before the mortgage ceases. It ceases when you have to enter care, or you die. Another key aspect is you not having to take out the full amount. And you only pay interest on the amount you withdraw.
  • The home reversion. This is a little more complicated than the lifetime mortgage. You can sell all or part of your property to a specialist home reversion company. You no longer own that whole or part of the property. However, you do have the right to remain in the property until you die or move onto long-term care.

If your business is dynamic

By ‘dynamic’ we mean looking like it’s going to grow quickly. If it is looking this way, then consider seeking investment.Bear in mind that not all investment runs into the hundreds of thousands. Some investors can pump money into a business for a small slice of profits, and they are much more likely to do this if you have an idea for a business that looks like it will grow quickly.

It’s worth considering seeking investment,simply because it allows you to have that early head start, without having to find money from more traditional lenders. Obviously it relies upon you having a strong idea that will make money for investors. But if you do, the power investment can bring is considerable.

Your choice

Many retirees look for funding from banks and their home value. Whatever you do, bear in mind that for the first six months of your business, you will have to work incredibly hard to make sure money is handled wisely, and your business gets your complete focus. Using some of the methods in this article to gain finance can help you on your way to running your ideal business in retirement.

http://credit-n.ru/offers-credit-card/ren-drive-365-credit-card.html

Why do I need Anti-virus and Anti-spyware software?

This may seem like a question that is asked very commonly in recent years and rightfully so. Security software has become more vital than ever especially for businesses when trying to protect sensitive information. There have been significant increases in cases of cyber-attacks in the form of viruses, phishing, spying and many more. This has led to a heavier focus on endpoint protection platforms, which are a set of security tools used to provide protection to all endpoint devices connected to a certain network.

Anti-virus software is essential for protection against viruses, which come in many forms including malware and spyware. This can give cybercriminals the capability to cause damage on devices, obtain sensitive information and commit fraud. Antivirus does not cover every single cyberattack, but it is still very important for shutting out potential intruders.

Anti-virus software does have to be bought, which is why it is incredibly important to do your research prior and find a program that is well known and generally considered to be very reliable. This is important as some viruses disguise themselves as anti-virus software and end up exploiting vulnerability in your device which can provide a gateway to potentially everlasting attacks.

Anti-spyware software is used for protection against spyware. Spyware is a specific type of malicious software that infects your device, commonly thought to be one of the most dangerous, allowing the attacker to be able to spy on your activity on said device. This means that they can potentially see everything that you are doing, including bank transactions and form submissions that require sensitive information.

The worst thing about spyware is that you are usually unable to detect whether this software is installed into your computer as it operates in hidden mode. The only slight signs that you could maybe pick up on is that the speed of the device may decrease sufficiently, but bad connection could make this a hard thing to tell. For more information on mobile security solutions, check out this infographic about everything you need to know regarding cyber attacks.

Why do I need Anti-virus and Anti-spyware software? Infographic
http://credit-n.ru/zaymi-online-blog-single.html

What to look for when choosing a courier service

If you own a company, you may have had to deal with the issue of courier options before. Companies that are required to ship out goods to customers may need a reliable service as not every company have their own group of dedicated drivers armed with delivery scooters . Like with many business decision-making processes, there is a lot to take into account so it is important to do your research in order to find the right service for your company.

Firstly, you want to ask how long the company has been in business for. This is typically a good indication of how popular and/or how reliable they are. While newer businesses may be a good option as you could assume they want to build their reputation, it is always important to consider the company that likely knows the industry the best.

You want to look at the service options that this company provide, a good company will be able to suit you both long-term and short-term. You may need to deliver the same day, so you could need to make specific arrangements which a reputable company can provide.Also, you may have certain specific needs on different occasions and a good courier company would be able to meet these demands.

Another sign of a good courier service is that they are innovative and keep up to date with technology. You may not think that this is a very important requirement but it goes deeper than you may think. A company that utilises modern software and technology is much more likely to be a well organised business. They may use things like order monitoring, real-time tracking and customer personalisation. If they can embrace new ideas to help make their service more efficient and reliable, then they are someone you should seriously consider working with.

Lastly, it is important to understand whether the company is efficient in coping with any problems. There are always issues that are going to happen, but it really depends on the individual company and their structure to see if a solution is found quickly. A good courier company would be able to keep constant communication with each party, allowing for a relationship to be established.

What to look for in a courier service - delivery notes infographic
http://credit-n.ru/zaymi-nalichnymi-blog-single.html

Build Trust in Your Brand for Business Success

Build Trust in Your Brand for Business Success - trust banner

Image sourced from Pixabay

It’s vital for any business to have the trust of their customers. If their audience doesn’t trust them, they’re not going to make any sales. Trust is a difficult thing to build, especially for new businesses that don’t yet have much of a reputation. You need to convince people that your brand is trustworthy through your brand image and through building a strong reputation. If you want to make sure your brand is trusted, you can do a number of things to gain the trust of new customers and make sure that existing customers continue to trust you.

Be There

Making your brand available to your customers is an excellent way to get them to trust you. They want to be able to get in touch with you to ask questions and perhaps even make a complaint. If they don’t have anyone to ask when they need to know something, they might just give up and decide that they would rather go to someone else. It’s important to be available to your customers in a variety of ways and in different places. For example, they might be able to contact you by phone or email, or perhaps get in touch with you via social media.

Build Trust in Your Brand for Business Success - handwritten font trust image

Image sourced from The Blue Diamond Gallery

Be Transparent

Being open and transparent about how you run your business should help with improving trust in your brand too. Customers are more likely to trust you if you’re willing to tell them how you do things, especially where their information is involved. The owner of Viderium.com points out the new regulation is going to continue to influence how businesses collect, send and store data. Consumers want to know what you’re doing with their data and why you need it. Taking an open approach can help your customers to feel more connected and more involved with your brand. Being transparent is important for building a relationship, for example, people will want to know if you are ethical regarding sustainability, including recycling or using plastic alternatives like a perspex sheet.

Be Reliable

Your customers also want to know that they can rely on you. Providing a reliable product that won’t let them down shows them that they can trust you. Showing is always better than telling, so make sure your product is as reliable as possible. Gathering feedback from your customers can be a good way to continually improve your product. They get to have their say and can see that they can trust you to listen to them and follow through on your word. When developing a product, it’s essential to make sure you know what your customers want before releasing it.

Build Trust in Your Brand for Business Success - trust image

Image sourced from Pixabay

Be Consistent

Delivering consistent quality and service to your customers is a vital part of building their trust. They should be able to expect the same (or better) quality each time they buy one of your products or services. You need to make sure you’re not constantly doing one thing one minute and then doing another thing the next. Consistency is key if you want to build trust from your customers and keep them coming back.

You can’t build a successful business if your customers don’t trust you. Create trust around your brand and you can grow your customer base. http://credit-n.ru/calc.html

Borrowing Without a Collateral: 8 Things to Know About Unsecured Loans

Running any business has its ups and downs. You will encounter financial challenges every once in a while. Unpredictable emergencies that need to be addressed within the shortest time possible. Maybe you need to replace some equipment to allow smooth operation of the business. Or you could be having an unsettled loan that could make you lose your assets if not paid on time. What would you do? Simple, apply for unsecured loans and forget all these problems. Here’s all you need to know about these loans.

Borrowing Without a Collateral: 8 Things to Know About Unsecured Loans - loan image

  1. No Collateral Required

Unlike in secured loans where you need to pledge legal property or assets as collaterals, unsecured loans do not require any collateral. So you won’t have to worry about losing your legal property or assets should you default. So, in case you’re having a personal emergency or you need some funds to open or expand your small business, applying for this kind of loan will be much easier. Don’t allow yourself to suffer a financial hiccup just because you have no assets or property to pledge when you can apply for an unsecured loan today. You can check UnsecuredFinanceAustralia.com.au for details.

  1. Less Background Checks

In the case of secured loans, the lender must do thorough checks to determine your credibility which could even include your lifestyle audit. You will also be forced to secure the loan with a collateral, which you’ll risk losing in case you default. But with unsecured loans, your creditworthiness is all that matters to the lenders. And if it’s all good, then what are you waiting for? What if you have no credit score? Again don’t worry, unsecured loans will still be the best way to build your credit score which will increase your loan limits and loan periods. But you must ensure that you pay for the unsecured loan on time.

  1. Real-Time Loans

Perhaps the main reason that you will go for an unsecured loan is that you need some fast cash for your personal use or for the business. And if the loan is to take days for it to be processed, it would cause some inconveniences. You could lose your loyal customers or the good paying contract you might miss because you lack some equipment which is not a good thing. But this is not the case with unsecured loans. The loans are very convenient in that when you apply for the loan, it will be processed within the shortest time possible and you can comfortably sort the financial issue you were facing.

  1. Easy to Apply

Initially, you would be required to go to the lenders and fill multiple pages of papers when applying for the loan. You would then go home and wait for the lender to consider your application contact you if you’re successful. This means you’d go to the bank a couple of times and might not get the loan. But not anymore. The technology is advancing and the lenders are also going digital. A majority of the lenders nowadays have an online presence where you can apply for the loan. All you’ll need to do is to log on to their websites – which are easy to navigate – and you’ll find the online application form. You’ll then fill the form and upload your address proofs, national ID and other necessary details.

  1. Credit Is a Reusable Resource

When you apply for an unsecured business loan, you will be given a set limit by the lender and as long as you will pay for the balance, you can reuse the credit anytime you need to. Despite the fact that the lender will only give you smaller limits because of loan security as compared to secured loans, you can negotiate this limit provided you’ll be willing to meet the additional terms. One main advantage of this option is that it will eliminate the hang-ups usually experienced with cash advances and traditional loans. So you won’t have to stress yourself again about constantly re-applying for funding.

  1. Reasonable Loan Term

The length of the loan you will apply (if awarded) will be used to determine the amount you’ll be paying on a regular basis. If the loan life is longer, the repayments will be lower. Unsecured loans are known for their short-term characteristic. “Isn’t this a disadvantage?” Well, yes you may not be allowed to extend the loan duration to, say 10 years. But to your advantage, you’ll be out of the financial obligation within a very short time and relieve yourself the loan repayment pressure. But of course, this will be so only if you pay for the loan on time. Defaulting will attract more fees and this will mean you’ll have to pay way more and for a longer period also.

  1. Flexible Loans

The amount you’ll get in the case of unsecured loans is significantly less than that of secured loans. But this doesn’t mean you won’t get enough loan for your business or personal emergency. If you have a good credit score, then you will qualify for a much higher loan amount. And the more the amount you take, the lesser and more affordable are the rates charged. And this will be to your advantage, especially if you’re taking the loan to start or expand your small business. You will also appreciate the flexibility in the repayment of the loan.

  1. There are Associated Fees

The unsecured loan that you’ll be awarded will have different ranges of the fees associated with it. You should ensure that you’ve considered all the fees before deciding on the loan amount and loan term to go for. Common fees associated with the loans include early payment, withdrawal fees, servicing fee, insurance, establishment fee, and early exit fee. Establishment fee is charged to your account at the commencement of the loan when it is deposited into your account. Early repayment fee applies if you decide to pay off the loan sooner than the agreed time.

Conclusion

It is very important to understand the essential facts of unsecured loans before going for it. And lucky for you, all the information you need to know about unsecured loans have been clearly explained. And the fact that the loan does not require a collateral makes it the best option for you when you’re having a financial emergency, especially in your business learn more with HJS Recovery. While most lenders can give you the loan even for recreation purposes, do not rush to taking the loan unless you need it to save your business. Or if have a clear and effective plan on how you’re going to pay back. http://credit-n.ru/kurs-cb.html