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Starting a Business Philippine Style

September 4th, 2011

Starting a Business Philippine Style

DO YOU prefer working regular hours under a reasonable supervisor in a well-established city office? Many people do. A person with such employment may enjoy greater security than one starting out fresh in a business of his own.

In the Philippines, however, there are those who prefer taking the risk. They want to enjoy working hours suited to their needs. There will, of course, be no promotions, no occasional raises in salary and no possibility of receiving a gold watch upon retirement. But this does not particularly concern these individuals. They find satisfaction in making a living by using their own skills and sound business sense. For them, nothing can compare with the opportunity of working with wife and children all day long and counting their blessings together when evening falls.

Filipinos often start a small business right at home. Consider what some of the possibilities are.

What Kind of Business?

Do you have a hobby that could become a full-time job? Perhaps you make toys for your children. If so, could you also make toys for other people’s children? In the Philippine city of Cebu, the production of toy guitars is not simply a hobby but a profitable business. The craftsmen work at home, producing toy guitars, ukuleles, bandurias and even very professional guitars that are sold at airports and music shops. Often at the end of the workday, the hills come alive with the music of thousands of stringed instruments, as family after family plays together.

Industrious Bicol folk produce handbags, slippers and numerous ladies’ accessories from abaca fiber. Deft hands in Bulacan and Quezon provinces weave buntal hats out of the petiole fibers of the buri palm tree. Here, try this on. Cool and dignified, is it not? Here is another one. Why, it makes you look 10 years younger!

Beneath Zamboanga’s lazy blue waters are found the tapering “antlers” of black coral. Craftsmen in Quezon City and Manila fashion the coral into tiepins, cuff links, rings, earrings, bracelets and necklaces. In the sandy seabeds off Surigao, Samar, Leyte and Panay, one can discover a treasure trove of shells—tiger cowrie, conch, lupo and kapis. Nimble hands make these into curtains, lampstands, windowpanes and chandeliers, which inhabitants of Paris, London or New York city would be proud to display in their homes.

Shoemaking may seem like an unlikely venture. But, in 1884, young Kapitan Moy bought a sturdy pair of British shoes. Back home he got more interested in the shoes. So he took them apart, and then put them back together again. Soon he set up a shoemaking shop and began sharing his new skills with neighbors. Almost a century later, the town of Marikina is going full speed ahead in the shoe-manufacturing business. In many, many homes of this town, grandpas, grandmas, papas, mamas and children home from school, busy as bees, are making the shoes that some of us will probably be wearing tomorrow. “Today,” says the Marikina Shoe Trade Commissioner, “we export shoes to many countries, including the source of Kapitan Moy’s shoes which he bought back in 1884.”

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The growth of Marikina’s shoe trade has meant more business for other towns. For example, Meycauayan in Bulacan supplies Marikina with much shoe leather. In turn, Marinduque, Masbate, Mindoro, Palawan, Romblon and other islands keep Meycauayan supplied with hides from cattle and carabaos. They also furnish alligator, goat, pig and snake skins for shoes, handbags and belts.

Many Filipinos open small stores or operate stalls in the public markets. Family members usually take turns tending these stalls in the markets of Kamuning, Cubao, Tondo and elsewhere. Divisoria Market in Manila is said to be the biggest market of its kind in the Philippines. It is not one vast supermarket owned and run by a single individual or company, but consists of thousands of small family stores under one roof. Haggling over prices here is an art honed to perfection.

The Government Lends a Hand

Aware of the potential of “cottage industries,” the Philippine government offers some aid to enterprising Filipinos. There are free seminars on various crafts. A course is even offered on raising mushrooms.

Government assistance is also provided to help people to improve the quality of their products. In Albay, for instance, many have advanced from making clay pots to the study of ceramics. In Ilocos Norte, people are learning how to make bricks and tiles.

The Philippine Daily Express, in an August 17, 1974, editorial, reported that the National Science Development Board has sent food-training experts to 39 Philippine provinces, “propagating different methods of food processing, so that items like coconut water, excess vegetables, seasonal fruits and small fish may be put to commercial” uses. This has resulted in the formation of “18 cottage industry cooperatives.”

Cooperatives? Yes, these are formed when several small businesses join together for mutual protection and profit. They are duly registered with the proper government bureau. The government encourages the establishment of cooperatives by granting them tax exemption and various forms of protection. These cooperatives enable the group to buy at factory prices, to sell at lower prices than they could individually and then mutually to share the profits.

For people who still prefer to be in business on their own, help is offered through the National Cottage Industries Development Authority (NACIDA). This agency gives valuable pointers on making Philippine handicrafts. The government also grants a five-year tax exemption for those registered as having their own “cottage industry,” enabling many to continue in operation and to prosper.

Financing the Business

But where do people get the money to start in business? Actually, very little may be needed. For example, a young man sold a ring. With the proceeds he started a small jewelry business. Today he can also sell, not only jewels, but even the dust in his workshop for good money. Why? There is gold in every pinch of it!

Another man discussed the matter with his in-laws. They liked his project and provided some 200 pesos (about , U.S.) each. Now his coral craft brings in a sizable income, and all share in the profits.

Some banks maintain lending offices in public markets to assist stall holders financially. Wise Filipinos avoid unscrupulous money lenders whose high cumulative interest rates can quickly gobble up not only profits but the entire business capital as well.

Is It for You?

Going into business for yourself has some advantages. A person is usually freer to make his own daily schedule for work and recreation. He is not responsible to any supervisor and he may have more time to relax with his family. By choosing the type of work that appeals to him, he avoids being tied down to a boring job just to make a living. He can also enjoy the challenge to his ingenuity that his business provides.

But there are risks. A person can lose his capital through bad management or unforeseen problems. Competition or inflation could cut profits. Then there is the anxiety about being successful, since running one’s own business may lack the security of being in someone else’s employ. It may be, too, that more time has to be spent in caring for the business than had been anticipated.

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Starting a new venture

February 14th, 2011

Starting a new venture

INTRODUCTION

There are many alternatives of starting of starting businesses. One can start up a new business which was none existent before, one can buy a new existing business or one can buy a franchise.

In our case, Mr. Sorefoot is starting a new business. Starting a new business gives one an opportunity for people to realize their dreams, they also have the freedom to select the equipments, location, products and services, employees, avoid undesirable policies and procedures, avoid many legal commitments and requirements. He will be his own boss have freedom to follow any path of business and he cannot be fired.

ADVICE:

I would advice Mr. Sorefoot to open the business.

This is because in reference to his business plan, he has highlighted all the essential areas required in a business plan.

He has given an executive summary which give highlight to all his key areas and this is very exhaustive.

In his business description, he has describes the business as sole proprietorship, this kind of business comes along with many advantages and challenges few. He also has expertise skills from his wife who was a KPMG accountant which combines well with the skills of Sorefoot who was a salesman. This will give his business a competitive edge over his competitor like the Tafia sports and the Uphill sports who don’t have qualified personnel to serve their businesses of sports wear.

In respect to the market, his target is the general public including the school children, because he opens daily unlike the market traders who open on market days unlike some of his competitors in the market. There is also advantage from the fact that Mr. Sorefoot is an ex-rugby player who has strong links with the local sports club and his wife is a chairperson of the local youth group and a member of PTA of an infant school, all this is likely to have a positive impact to his sales since as they have a good relationship with them. His business has a competitive advantage over his rivals because he can access the quality wear unlike the market traders who sell poor quality products. His business is located at a secondary prime area there fore he can access a good share of the market unlike the Uphill traders and the market traders who are poorly located. He will have a competitive advantage over Tafia traders who have low range of products.

Since Mr. Sorefoot has two plasma screens, he also plans to have promotion to schools and clubs, his strategy on the giving discount , holding evening display as well as the limited advertising on the local paper is promote his business sale because there will be increased customer awareness of his products this is likely to improve sales.

From the information given in the case study, the kind of market is perfect competition which offers free and fair competition in the market, it’s the forces of demand which set the equilibrium prices, therefore the business is likely to do well since there is free entry in and out of the market, meaning that there are no barriers of entry as in the monopoly.

From the projected financial analysis, Mr. Sorefoot firm is likely to do well, this is because his major source of capital is a loan bank, the pay back period is long enough to allow him expand his firm. He also have some saving in his account which he shares with his wife will help him to sustain his business in times of hard ship.

He should carry on with the business because he has the confidence and the self drive, more so he has set his objective, which is to make profits. He also considered his technical know how in sales and his wife was an accountant. Combining all that in addition to hiring a qualified employee is going to take his job to higher height.

Mr. Sorefoot has the knowledge of good sports wear since he was a rugby player, this is likely to satisfy his customers with good quality of products, more so he gets his products from known brands such as Nike, Adidas, Reebok and Canterbury. Since most of the people spend their leisure in sporting activities, this will match his job objective.

Recommendations to Mr. Sorefoot before starting his business [bounce sports]

Since he has analyzed his strength and weaknesses, he should capitalize on the strength while trying to counter the weaknesses. He should look for primary prime location; plough his profit so that he can have more money for advertising in the local media. He should also seek a qualified employee to suite the post he will create. He should also seek to be price competitive by finding out where the Tafia sports gets its supply from so to become price competitive.

Mr. Sorefoot should also include the description of problems he is likely to face in his operations and how he will solve them.

Mr. Sorefoot should consider the legal costs, the political environment in the country, if there is political stability in the country, then he should invest in the business other wise unstable political environment is not conducive for investors. He should also the security in the area.

The profit expectations are a bit high for the new firm there fore though it’s a feasible business, they should be reduced.

He should know that poor management contributes for the fall of almost all small scale business failure, the inability to deal with the unexpected occurrences, these occurrences such as changes in the exchange rate, changes in the taxation rates. He should therefore set money aside to deal with the uncertainties in the businesses, he should he seek a favorable insurance policy to take care of these uncertainties and occurrences such as fire and theft.

He should be innovative to think of new ideas and way to manage his business during the hard times. Desire and persistent along with innovative thinking proves all odds, therefore, the business can even change the direction if things go bad.

He should consider the government policies towards these small scale business, the government could be giving incentive or disincentives.

He should start attending some classes on management of business; since he is not trained entrepreneur the classes will help him to manage his business.

PA Q2

The kind of business Mr. Sorefoot is a sole proprietorship. This is form of business owned by a single person who assumes all the risks coming into the business and he is responsible for the profits and the losses. This form of business is the oldest and simplest form of business. This form of business owned by Mr. Sorefoot has many advantages and disadvantages.

Advantages of entrepreneurially managed firm.

There are few formalities required to start up the business. Mr. Sorefoot can begin the business easily because he is required to acquire only the license and capital as the basic needs. The other statutory needs are very few as compared to other business forms like the company or the partnership.

The proprietor of the business is responsible for making all the decision. The operations, policies and goal rest on the individual and the management is contracted. This makes him to make decision fast and no disagreement while making these decisions therefore very little time is wasted.

The owner of the business receives the rewards of the business alone. The rewards will come from good management and labor directly. This makes owner to be very careful while running the firm so that eventually he will attain his objectives, that to make profit like the case of Sorefoot.

There is close monitoring of the day today activities of the business since he is responsible for controlling, directing, organizing and planning. This means that the owner can take the corrective action needed soonest possible whenever any thing goes haywire without having to go through a long chain of command.

The costs of dissolution are low. This is because this will not require many people whom to breakup with many people. Therefore one will not need to hire special auditors and accountants and lawyers to carry out the dissolution.

This kind of business makes it easy for one to invest his personal assets into the business. Mr. Sorefoot can put his personal assets like the house hood furniture if he doesn’t have enough capital.

This business form is easy to be transferred to a willing buyer any time since it’s easy to dissolve.

The owner of the business can take relatively high risks in the business.

It’s most secretive, cheapest and flexible form of business.

Disadvantages of entrepreneurially managed firm.

There is likelihood of having limited capital, this is because one mainly get capital from his personal savings, borrowing donations or grants. This is a challenge as compared to other businesses like the companies who can raise money through the sale of shares.

The entrepreneur cannot acquire borrowed funds unless he shows the capability of paying back within the required period and at the lenders rate.

The liability extends to the personal belonging. If Mr. Sorefoot cannot payback the loans acquired to run the business, then his personal property like the beds can be taken by the leader.

The business pays high tax rates than those individuals forming the companies because they are required to pay the personal income taxes unlike those in the company.

It’s difficult to get the right people for the right jobs; like in our case Mr. Sorefoot business has limited expertise.

There is lack of continuity and stability because it largely depends on the one individual. In our case the firm is dependent on Mr. Sorefoot family.

Question four part B

LEGAL FORMS OF BUSINESS:

Beside the sole proprietor form of business, there are other forms of legal businesses and they include:

Partnership

Companies

Cooperatives

PARTNERSHIP

This is an association of two or more people as the owners of the business who come together as partners with the sole reason of making profits. There is no limit on the number of the partners. The partners can be:

Ordinary/ general partners

Limited partners

In general partner partnership, all partners are liable for the debts of the business and all have equal right to the business.

In limited partner’s partnership, the partner’s liability is limited to the amount of capital the individual has contributed.

Normally one individual is charged with the responsibility of running the day today activities of the firm.

Partnership offers the opportunity to pull the resources together in terms of the capital and technological know-how.

The partnership can be created by oral agreement or by written agreement, but its preferable a written agreement because it offers future reference.

Advantages of a partnership

It’s easy to start because it requires little capital from each partner as compared to the sole proprietorship.

It benefits from the variety of unique talent from the many partners.

It’s easy to bring in more partners when more capital is required.

Control of the business is spread to the partners depending on the sections you have in the business.

DISADVANTAGES OF A PARTNERSHIP

There is unlimited liability to ones personal property.

There is higher tax rates compared to the company because the partners are charged with income tax.

There is lack of stability and continuity when a partner dies or resigns because anew partnership deed must be drawn.

COMPANY

This is an entity which is entitled to:

Own property

Contract debt

Engage in various practices prescribed by the company act

A company is enacted by an act of the parliament and it’s owned by shareholders who are who are treated as one because they don’t own directly but through the shares.

The company’s legal form control capital resources and the resources are owned by the company its self and not the individuals. A company must meet the following legal documents.

Articles of association

It sets forth the purpose of the company and the means to finance it. It also maintains the by-laws and these indicate how the company will be operated in regards on how to elect the directors, duties of the office bearers, voting and by- election procedures.

Certificate of ownership

This could be in terms of shares, bonds or stock. They indicate how much participation one has in the company. The stock could either be:

Common stock

Preferred stock

When a company is formed, shares are sold to those who wish to risk of investing into the company.

Bonds are sold to individuals who want to invest into the company.

Debentures are types of bond with security and the type of bond depends on the interest rate.

ADVANTAGES OF A COMPANY

There is limited liability meaning that you are liable to the extent of your participation.

The company’s legal form gives it an opportunity to borrow funds externally, meaning that it can acquire enough capital unlike the sole proprietors.

It has the capacity to attract highly motivated personnel.

It’s easy to transfer the ownership by selling out your shares to the willing buyer. It’s easy to acquire brokers to sell and trading of the shares.

Its perpetual in nature, the stability and continuity exist over a longer period than other forms of business.

DISADVANTAGES

It’s highly regulated which make it hard to operate, you have to have to hire a company lawyer who has to be the legal advisor avoid misunderstanding and organizational problem within the firm.

There is also double taxation because it pays the corporate taxes and dividends are also taxed.

It contracts very high overhead costs.

It needs an elaborate accounting system therefore becoming an expensive business.

COOPERATIVE

This is a legal form of business recognized by law. It’s a voluntarily business organized formally at a cost, capitalized and controlled by members who own the business.

The owners share the risks and benefits proportional to their participation.

It gives the members an opportunity to all members to pull the resources together.

It must serve its members and if there margins above the cost, they must be returned to the members as dividends.

The major objective of cooperatives is to promote the economic wellbeing of its member.

There are four categories cooperatives, namely:

Primary society

Secondary cooperative society

Country wide society or union

Apex society

Cooperatives are in most cases based on some principles since they offer an opportunity to all its members. Some of the principles are:

The have voluntary and open membership.

Cooperatives are democratically member controlled

The members must participate economically

Cooperatives must be independent and have autonomy

They must encourage cooperation among other cooperatives.

They must have a concern for the community

They should insist on education training and education flows.

ADVANTAGES

There is limited liability that is up to your level of contribution.

There is always a broad based capital because of pushing of the resources together.

They can exist all along even with the exit of some members.

DISADVANTAGES

The ownership is not transferable.

The owners have limited participation in the managements

Though there is limited liability, who is usually responsible for the debts of most cooperatives which cause them to collapse.

Sometimes a cooperative may lack adequate resources to meet its objective.

PCQ6 DICUSSION

A firm’s success depends on both internal and external factors. The external factors are called opportunities and threats whereas the internal environment is called the strengths and weaknesses.

The internal environment consists of the resources within the firm. These resources include the employees, the management, the capital available and the technology the firm is currently using.

The external environment consists of the market, technological changes, the government policies, socio- cultural issues and the other global issues. These are factor that the management cannot control within the firm.

EXTERNAL FACTORS

The market is an external that determines the success of the small scale business.

The markets consist of:

Competitors

The supplies

The customers

The kind of competition determines future of the business. The competition may be fair or unfair. The market structure consists of number of player in the market, barriers of entry into the market, and the product differentiation. Depending on the number the market structure can be:

Monopoly

Perfect competition

Oligopoly

The best environment for the small firm is the perfect competition; this is because there is free entry and exit into the market, there is perfect knowledge of all the information in the market, there are many sellers and buyers.

Government policies also determine the success of the small firms. Some policies like the subsidies support them whereas the increases in the taxes e.g. the value added taxes. The government control of the prices can either be supportive or destructive to their growth.

Global issues like the natural calamities such as hurricane and earthquake also determine their future. Changes in the technology can affect their success. Though some firms can lack the capital to adjust from the obsolete technology; adoption of the new technology improves the efficiency in production.

INTERNAL FACTORS

Internal factors also affect the business future. The way the employees are handled and treated by the management determines their productivity, the benefits, salaries and the allowances determine the level of motivation.

The financial resources available to the company also determine its future interns of whether it can expand, can hire qualified personnel who come demanding higher packages, can the company adopt to the changing technology which come along with the cost.

The mode of management also determines the future of these small scale businesses. The manager key responsibilities are to:

Organize

Control

Plan

Direct.

If these functions are not carried out effectively, then these firms are likely not to succeed. The managers must ensures that are democrats so that they don’t fallout with their management, they must manage by objectives to be successful.

CONCLUSION

From the above analysis it’s clear that for the small scale business to be successful they should not only consider the external factors but also the internal factors which go hand in hand to achieve the objective of these firms.

References:

Charles L. Martin (1992), Starting Your New Business: a guide for entrepreneurs,Thomson Crisp Learning.

David Karlson (1994), Avoiding Mistakes in Your Small Business, Thomson Crisp Learning.

Fred S. Steingold (2006), Legal Guide for Starting and Running a Small Business,Nolo.

How to start a business, electronic article, retrieved on first may 2007.

Ivan Taback, Samuel Weiner, Martin M. Shenkman (2003), Starting a Limited Liability Company, John Wiley and Sons.

Larry J. Robson (1999), It’s Your Business!: Start a New Business, Expand Your Business, Or Move Up the Ladder Starting …,Universal-Publishers.

Stephen C. Harper (2003), The McGraw-Hill Guide to Starting Your Own Business: A Step-by-Step Blueprint for the First Time,McGraw-Hill.

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Starting a business in a recession – Only for the brave?

January 1st, 2011

Starting a business in a recession – Only for the brave?

Starting a business in a recession – Only for the brave?

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Starting a business in a recession – Only for the brave?

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Starting a Business in the Recession.

Only for the brave?

There are numerous reasons for starting a business, and many very successful businesses have grown almost by accident. Whilst Richard Branson obviously had a major game-plan, who could have believed his Virgin empire would have grown out of school-boy trading?

Timing is crucial, but so are opportunities, brilliant ideas, hard work, great luck, natural ability, and of course good cashflow.

Whilst the current recession has its business casualties, it also creates great opportunities. How many civil servants and former Connaught employees have been biding their time to strike out on their own? Redundancy is a great catalyst to get budding entrepreneurs into harness.

And whilst the market may appear to be shrinking, houses must still be maintained, parcels must still be delivered, book keeping records and accounts must still be kept, websites built, roads dug up and re-surfaced, property traded, vehicles repaired and maintained. The list of potential opportunities is endless.

So what is required?

Firstly a pretty clear plan of what you are doing and why. Today this should take the form of a written business plan. Include your trading name and style of trading, a corporate aim, business values, and the reasoning behind your venture. Prove that you have carried out market research and that there is indeed a need for your type of operation. Include details about your own experience and skills, what you know about the competition, your proposed premises, marketing, staff, product sourcing, stock holding, and the risks associated with over/under stocking. Add some milestones, a list of advisors and partners, how you will finance things, and the all important review dates.

Reviews are vital because no business venture works according to plan. Some targets will be easy and happen almost overnight, others you will never achieve.

Include budgets and cash flow forecasts. This will help your financial partners to understand the situation when you ask for funding.

Think about family commitments. What must you draw out each month? Who do you have to provide for? What lifestyle are they used to? Can you realistically prejudice their security?

How will you fund it? Yourself? Family and partners? Trading partners? Banks? Venture capital?

Consider whether you are going to buy or rent premises; banks and landlords may expect guarantees secured against property – possibly your home! How is your credit rating? What do you owe on HP and credit cards?

Having cleared all these hurdles it may be time for a bit of action.

If you require premises from which to trade, why not take a look at our website for some local business premises www.somerset-warehouses.co.uk

I have heard of so many different successful business start-ups.

Here are some examples

Executive made redundant, with 6 months salary, his old company car, and the prime client list from his old employer. Now running a very successful interior design and project management operation.
Unemployed but determined, who used his “dole” to buy materials to build a garden shed, which he sold for a profit and built another, and so on until he had built a very successful business employing a large team of carpenters and installers.
Redundant and now employs his old boss. From working in a factory moulding fibreglass, this entrepreneur took over when his boss went bust, grew the business, re-employed his old boss, and now drives an Aston Martin.
A cowman, milking cows, who developed a bad back and could not work. He decided to re-invent himself as a trainer in the correct way to lift and carry. This grew to be a significant business working on production lines, cross-channel ferries, and supermarkets. So successful he then sold the business.
The yardman at a builders merchants. Tired of filling bags of sand, he opened a home-brew shop. By analysing the busy times of day he adjusted his business hours to suit, thereby achieving an easy lifestyle. He then sold his very successful business to someone who turned it into an off-licence, which closed within 12 months.

And there is the rub. One person may be highly successful because of personal attributes-; experience, training and qualifications, commitment, vision, inter-personal skills, business acumen. Another may fail in the same business due to personality, poor research, bad management, financial burdens, lack of planning, and they will call it bad luck!

So, think about the caustic mix of your personality, the expectations of you and your family, how well you research your project, how you will finance things and can you stand long hours and very hard work?

Finally, where do you want to be?

The vision is everything. If you want to do the same thing for the rest of your life, be cautious. If you plan to retire in 10 years to a Caribbean Island – go for it!

Anthony Bucke

www.somerset-warehouses.co.uk

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Starting A Home Based Business With Little Capital?

November 3rd, 2010

Starting A Home Based Business With Little Capital?

Commuting to and from work everyday can take its toll on every person who may have spent five or ten years of his life waking up every morning and dreading the traffic, the pollution and the now-familiar faces of his officemates. Because of this, working at home has always been an attracted option for almost everyone.

Not everyone can start a home based business from scratch. A home based business to make money from home, no matter how simple, will require capital and resources. But the twenty four dollar question being asked by most people is “would it be possible to start a home based business with minimal capital?”

A home based business to make money from home is generally cheaper to establish compared to a regular business primarily because the former will require minimal overhead. A big part of capitalization needed for a regular business will go to the initial and monthly rent expenses but this is not necessary for a home based business.

Household facilities like telephones and refrigerators, computers and other office equipment can also be used for the home based business so there is no need to put up additional capital for these. The only capital you have to put up is for marketing although you can be creative and still use existing materials for this.

There are plenty of home based business to make money from home ideas to choose from depending on your hobbies, interests and experiences. If you are good in cooking and budgeting you can start with a catering business. You do not need to buy anything else except your raw ingredients and perhaps some basic professional dishes for catering. You can start with the business using the ordinary kitchen utensils you have and you can invest on more professional equipment as you earn from the business.

If you own a computer and a printer you can already start a printing and computer home based business even with minimum capital. Among those you need to buy includes extra ink for your printer, and perhaps bond and specialty papers. This home based business to make money from home will require your creativity and computer experience so no need to invest more than what is necessary if you are still starting the business.

Another cheap home based business is photography and photo editing. If you have a digital camera and a computer plus you have the basic knowledge in photography and digital photo editing and storing then you can already start the business. You can start a home based photography shop, taking advantage of the fact that most people are too busy to go to malls or photo shops to have their pictures taken. Most clients would need photos for job and passport applications.

You can also offer photo restoration or transfer of their existing photos to CD.

There are other home based businesses to make money from that requires little o no capital at all depending on the resources you already have. It is a matter f researching and taking stock of what you know, what you have and what you intent to put up as a business venture.

Make Money Online See how you can work from home to make money online with a setup home based business .

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Starting a new life and Job in Australia

September 2nd, 2010

Starting a new life and Job in Australia

Relocating to Australia can be a fun and exciting venture, especially if you plan to pursue your dream career abroad. The climate, great culture and friendly locals have made this a top destination for people looking to relocate to a new place and start a new life. The country has also consistently ranked high for its quality of life, health care, public education, human development and economic and political freedom. If you find yourself considering a big move down under, here are a few tips to help you get started.

Researching Locations

Australia is an incredibly large country with many different cities to choose from for your new home. Spend a little time researching different areas to see what suits you best. The obvious choice is Sydney, one of the largest cities in the country. However, not to be overlooked is Melbourne. Melbourne is a lovely, hip city that has a more youthful, playful and artistic vibe than Sydney. Other state capitals to consider are Brisbane, Perth and Adelaide.

Finding Work

If you are not too fussed about where in Australia you end up, another option is to secure a job before moving out there. There are many ways to go about this. The first and best option is to just search the web. There are many great online directories that list current openings for businesses across the country. You might also try looking at the websites of corporations that interest you to see if they have listings on their human resources page. Finally, check out employment agencies that have branches in both your country and in Australia. These agencies will have insider knowledge about upcoming job openings and will be able to help you provide the necessary paperwork for applying for both the job and any visas.

Settling In

Whether you decide to secure your job before your big move, or plan to start looking once you’re there, you will need to find an apartment or house to move into. It is possible to find rentals online so that you have a place to settle into as soon as your plane lands, but this is not recommended. Instead, book yourself into a hotel for a couple weeks in order to give yourself plenty of time to look at places to live. This way you’ll be able to physically inspect the residence while also checking out the neighborhood.

Family

If you are planning to relocate your family to Australia, you will have many additional considerations. Before you make the move, you will need to enroll your children in a school. You will also need to ensure you have medical cover for Australia and the proper medical files in order to register your family with a GP. If you have any pets, make sure they are up to date on their shots and inoculations and have proper travel arrangements. Finally, when you arrive, the first things you and your family will need are a mobile phone and a car for getting around. After that you can focus on settling in and getting to know the local area.

Anna Jones is a freelance financial consultant who is currently researching the best value £300 loans online.

Angel Investors are high net worth individuals who invest individually or in syndicates in early stage entrepreneurial ventures. This book is designed to help an angel investor develop an investing strategy. It covers sourcing and evaluating investments, negotiation and valuation of the investment and then the process of managing the venture through to an exit. The book has been used as the basis of Angel education in Australia and New Zealand but is applicable to any environment. The book is available free from www.tommckaskill.com

Posted in Venture Capital | Tags: Australia, life, Starting | No Comments »

Starting Up a Business in the UK

July 30th, 2010

Starting Up a Business in the UK

There has been a recent wave of websites and TV shows about people starting their own business and following that path from bright idea and individual entrepreneur to small business start-up and then potentially to multinational, depending on the product or service. But what kind of audience are they broadcasting to? Well, it turns out a lot of us Brits want to start up our own small business. According to Business Link, over 10 million of us would like to start up our own business at some point.

So the encouragement is there and let’s face it, a lot of us like to be the boss. However, the whole process is easier said than done. The people who took part in the survey were asked what the main obstacle to starting up their own company was. Many cited financial concerns, be it the current UK financial climate or perhaps their own overdrafts, mortgages and debts. How would they cope if they started, but couldn’t generate enough initial funding to keep it going? After all, they’ve got the idea, the business plan, the desire, and maybe even a few colleagues. But how do they find the right people?

Well, for most of us non-millionaires, the main thing we need to do is to generate capital for the business. Since start-up companies have no established brand name and no financial records, loans are pretty much impossible. This means the entrepreneur needs to look at other ways of finding potential investment. This can be done via venture capital funding, courtesy of private investors that can run the business with you (basing their funding terms on how your business performs in the early stages of investment) or with business angels, also known as angel investors, who are usually individuals or groups of people that provide the investment in exchange for partial ownership of your company.

Where can we find these people? Well, several websites have made that gap a lot smaller. Sites like the Angel Investment Network allow UK entrepreneurs to post ideas for start-up businesses, along with details such as which market sector (be it within the UK or globally), industry niche, and what sort of investment you are looking for. The network also allows angel investors (both in the UK and abroad) to browse through entrepreneurs’ proposals based on their own investment criteria and interests. Business partnerships and new start-up companies are evolving on a daily basis, and the Angel Investment Network database now has over 60,000 members.

Mike Lebus works with entrepreneurs seeking investments, via the Angel Investment Network, which has since expanded into a worldwide network of websites that help angel investors from around the world connect to UK based entrepreneurs.

Posted in Venture Capital | Tags: business, Starting | No Comments »