Archive for the ‘Business’ Category

February 21st, 2014  Posted at   Business, Network Marketing
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merchant accountMerchant Accounts for High Risk Businesses

A merchant account can provide your business with several advantages. First, it allows your company to accept credit cards. Online companies need to be able to accept credit cards if they are going to maximize their sales. However, what happens if your company would present too much of a risk to a merchant account provider?

You Might Pay More Per Transaction

Merchant account providers charge a fee for each credit card transaction that is processed. High risk account providers may charge an additional fee on top of that to make it worth their while to process your transactions. If your company has a bad credit score, you have accepted stolen credit cards or have done anything else that could get the account provider in trouble, expect to pay a premium to get an account.

It May Take Longer to Get Your Account Approved

It typically takes a few days to get your account application approved. If you are a higher risk than a typical company, it may take longer to approve your account because extra documentation may be needed. Interviews with the owner of the company or other company officials may be necessary as well to determine exactly how much of a risk you would pose to a merchant account provider.

Your List of Merchant Account Providers Will Be Smaller

The number of merchant account providers who will provide an account will be lower for high risk companies. This means that it could take a long time to find a provider willing to work for you as well as submitting applications to multiple account providers before finding a company that is willing to partner with your business.

How to Pose Less of a Risk to a Merchant Account Provider

There are steps that you can take to lower the risk that you pose to a merchant account provider. For example, you could take steps to increase your company’s credit score or take steps to prove that your company’s revenues are going to be consistent for the next several months or years.

Getting a merchant account is not easy. However, it is something that you will need if you want to accept credit cards. Therefore, it is important to know where you can turn when getting an electronic cigarette merchant account or another type of merchant account is the next step toward growing your business.

August 26th, 2013  Posted at   Business

Outsourcing Order Fulfilment Systems Pics 1An outsourced order fulfillment system provides a substantial array of benefits and returns, but most substantially boosting your savings. More often than not, an outsourced online order fulfillment system carries out your outsourced tasks more effectively and adeptly, in addition to minimizing your costs. As most of the time, there are tremendous factors why, undertaking the complete process through your end might not exactly garner you time savings and lessen your expenses.

Order fulfillment typically involves the steps associated with acquiring, managing and shipping products to your consumers. Outsourcing the order fulfillment operations does not only restrict to big businesses, but, most of the time, the boundless benefits and necessity of these processes had been appreciated by the majority of distinct direct-to-consumer orders.

Below are a few advantages of using an outsourced order fulfillment system

  1. As your business expands so with your demand for manpower to facilitate your daily processes. Hiring and training personnel to meet your daily capacity is in fact very time consuming and expensive. In addition to this, you need to formulate a plan to back-up personnel for holiday and leave events. Providers of order fulfillment systems like www.npfulfilment.com.au will invariably have the equipped and essential manpower to back up and work for your league 24/7, 365 days a year. A good order fulfillment system provider greatly focuses not merely on assigning staffs to perform your required task, but most importantly concentrates on adding people who are proficiently knowledgeable and accustomed with your process.
  2. Alongside with your required number of growing staff, the Outsourcing Order Fulfilment Systems Pics 2demand for storage facilities and space would also come as an issue. But, worry no more, order fulfillment companies will always have an established and readily available warehouse to support your space requirements, as obtaining a rental warehouse and deciding for a long- term accountability is an extremely not reasonable spending. And with the use of order fulfillment companies, your products will always have a secure place for stocking.With this growth, also comes the challenge for new warehouse equipment’s, tools and accessories.  Equipment and resources required for shipping your products such as racking ,trucks, vans, shipping supplies, logistics system, fork lifts and many others will also grow in demand. And investing on these necessities would take not money, most your effort and time.
  3. In summary, outsourcing order fulfillment systems not only increases your work proficiently and effectively, maximizes your time, but in the long run, also brings down your expenditures and costs.
June 26th, 2013  Posted at   Business

 

Myanmar’s remarkable economic growth continues to draw immense financial interests. The country has now opened up to foreign investors. So, if you are a foreign investor, looking to start a company in Myanmar, then you should be aware of the different types of companies that can be set up by foreign investors. Myanmar basically offers two choices to foreigners who intend to register their businesses in this country. Companies such as mining, construction and manufacturing, that entail huge start-up capital, are registered under Myanmar Foreign Investment Law (MFIL). Whereas, foreign companies that involve less start-up capital are required to be registered under Myanmar Companies Act (MCA). The MCA act allows small overseas businesses to register in Myanmar.

Registering and setting up a company in Myanmar has become a lot quicker and easier. In the past, the application as well as the registration process used to go on for over a year however; Myanmar’s Company Registration Office (CRO), states that these processes can now be done within two to six months, at the most. Moreover, the Myanmar government has started providing numerous incentives and assurances in an effort to persuade foreigners to invest in the country.

Myanmar Company Registration Under MFIL:

Under this law, foreign companies can register as wholly owned businesses or as joint ventures. However, under the Special Company Act 1950 (SCA), a joint venture can opt to choose the status of a local company. The minimum capital that is required for company registration under MFIL is USD 500,000. However, in reality, it has been noticed that foreign investors invest close to USD 1000000 – 2000000 depending upon the type of company that is set up. The ‘Permit to trade’ in Myanmar is issued after the credit amount is received. The subsequent step involved for registration purpose will entail submission of the ‘Permit to trade’ along with the application. The entire process can take takes around 4 to 6 months.

Myanmar Company Registration Under MCA:

The minimum investment needed by a foreign company under the MCA is USD 50,000. Half of this amount has to be invested in the company soon after the incorporation application is approved. The remaining half has to be invested in the company within one year of incorporation. The time involved in the whole process of application as well as registration of a company under MCA is around 2 to 3 months. You can also avail the procedure for obtaining a temporary incorporation certificate in a few weeks, after submitting the application. Under the MCA act, the ‘Permit to trade’ is applicable for two years only, after which you will be required to resubmit all the documentation for renewal.

Even though Myanmar company registration processes have become quite simpler, it still involves lot of legal formalities. Therefore, before investing your capital, you may choose to hire the services of an accredited lawyer in Myanmar. Their fees are reasonable at about USD 2000 plus, any other registration related charges but, they can help you in getting started.

Overall, Myanmar’s government is steadily trying to loosen restrictions in several areas in an attempt to make the country more lucrative to both the foreign investors as well as their own citizens. Company registration in Myanmar has become an appealing proposition for anyone who wants to set up their business in this land of growing opportunities.