Georgia Larcombe

Residents of Dubai who are starting a business and want to expand their business there are a few challenges that they are going to face. How to handle challenges will mean difference between success of the business and failure. Facing challenges yourself can be hard and this is the reason why most businesses today are looking for services of a business consultant or tally partner in Dubai. Before hiring business consultants in Dubai there are so many things that you have to consider. Your business is like your baby and you only want the best from it. Due to this reason it is vital to consider a lot of factors when choosing a business consultant. It means that you have to check references, credentials and gather a lot of information concerning the tax agents Sydney CBD. You should consider cost when choosing a business consultant but this factor should be secondary.

Check credentials Most consultants say how they will transform your business and do wonders. Avoid listening to these words but check their credentials. If the consultant says that he has a business degree make sure that he has one. You should not stop from there find out the school that he went and earned it. Did he get the degree from a good institution? If you are going to spend your money on hiring a business consultant, it is a must that you make sure that he can be able to deliver and boost your business.

Experience Degrees are not everything. It is not good to hire a business consultant because he has one. The best smsf accountants in Parramatta are those who have experience to evaluate business plans. Hire a consultant who has been in this industry and done that before. If you are searching for help that involves issues like technology, it is vital to choose a consultant who has experience in technology.

 Reputation You should not forget about reputation if you want to hire the best business consultant. Looking good on paper and providing results are not the same things. You are going to learn reputation of a business consultant if you read testimonials from clients he has worked with before and who are happy with his work. Call clients that he has worked with and do not be afraid of asking any questions.

Meeting After you have a list of a few consultants who have a lot of potential it is prudent that you meet with all of them so that you can gauge their confidence and get information. It is not a must that you travel to another town for the meeting. Today, everything has changed thanks to advances in technology, you can now meet virtually. But before you meet it is vital that you prepare a list of questions and ask before making a choice.

Contract No matter how experienced or confident the consultant is you should not start working together without a contract. The contract will help in protecting you and the business consultant. Ensure that the contract includes services that you are going to get, when you are going to get the service and how much you are going to pay. Besides depending on feasibility study there are numerous benefits that business owners will enjoy if they hire the right consultants.

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Sometimes, you may come across some problems regarding your business assets. Sometimes, you may need to purchase new assets, but your capital is not enough or this may cause cash flow problems. In some cases, you might need extra capital yet you don’t want to or cannot apply for a bank loan due to certain reasons. When it comes to dealing with assets, you should always look into financing, which can generally help you in dealing with your problems.
First of all, there are two types of asset financing. One is to lend money secured to existing assets and the other is to finance in order to secure additional assets. The first method basically means obtaining a loan by using assets you own as collateral. If you fail to repay your loan, the lender will take possession of said assets. This type of financing is called asset refinancing. The assets you use as collateral can vary and some firms can have very flexible arrangements so that you can use virtually anything valuable or that is part of your business. The value of your assets will determine the maximum amount you can loan.

The other type of financing is the more common one, particularly when it comes to purchase expensive equipment, machinery or vehicles for business uses. Financing terms and rates vary from firm to firm, and it may be a good idea to hire finance brokers Sydney to find a firm suitable for your business. There are a few types of financing to get new assets, which are discussed below in more detail:
• Hire Purchase – This type of financing is used by both businesses as well as normal people to buy expensive items. When it comes to a business, it is a very convenient method to purchase new assets. Basically, a small down payment is made when the requested item is purchased, while the rest is settled in monthly instalments. At the end of the payment period, you gain full ownership of the purchased assets and are free to use as you like. You will still have to pay for any maintenance costs during the payment period.
• Lease Purchase – Here, the lender will purchase the asset for you and rent it you on a lease. You will receive said asset instantly just after purchase and can start using it after paying some of the upfront cost. You are then required to pay monthly instalments, just like in hire purchase. The difference with hire purchase is that at the end of the repayment period, you have various options. You can continue leasing the asset, purchase it outright (the amount you repaid will be factored in the purchase cost) or even upgrade the asset to a newer one.
• Finance Lease- This is somewhat in between hire purchase and lease purchase. The payment is similar to hire purchasing, but the asset remains in the ownership of the lender. It has a few uses, such as giving tax benefits.
• Operating Lease – This can be described as renting an asset from the lender, who will still pay for any maintenance cost for the asset. Operating leases are cheaper than financing assets using other methods, but you don’t get ownership of the assets.

Continue reading Types Of Financing You Should Consider