Ready, Set, Go! Stopping A Business Falling At The First Hurdle

Starting a new business is an exciting time in an entrepreneur’s life. Hopefully, everything goes well and the company will begin to make money. Sadly, the reality is it will be a bumpy ride before money starts coming through the door. The “What Percentage of Businesses Fail in their First Year?” post puts the figure at 20%. So, there is an 80% chance the business will survive, but the statistics are only for the first year. Within ten years, 96% of startups close the shutters. So, the question is, how does an owner not fall at the first hurdle?

 

Deal With Taxes

Startups need to lower their expenses – fact. And, because it takes a while to turn a profit, reducing costs can help keep a company in the black. Out of all the charges on the table, the tax is the most significant. Usually, tax contributions for SMEs can take up over 20% of the firm’s budget. The problem lies with businesses which don’t hire professional help. An article entitled “What can Maryland do If I owe taxes?” points out the dangers of doing it yourself. Due to their skill and experience, accountants are essential to the process. Hiring one costs money yet makes money in the long-term.

 

Increase Customer Base

The customers who kept you in business last month won’t do the same again. The reasons range from a lack of loyalty to companies needing to maintain a healthy influx of buyers. In simple term, consumers purchase products and services and spend money in the process. Although it may not be a fortune, it is often enough to keep an SME in business. The more customers who make a purchase, the more money a small firm is likely to make. Plus, an influx of new customers is an advertisers dream. Therefore, it increases the opportunity of alternative revenue streams.

 

Recruit Reliable Employees

Firstly, a company’s workers are the difference between success and failure. As they are the lifeblood of the organisation, they keep the business running. Logically, then, employees have to be productive and driven. More importantly, a recruitment mistake can cost a startup a fortune. Not only do you have to pay a worker off, but you also have to stump up for a recruit. And, the cost doesn’t even factor in the process of interviewing and paying recruitment agencies. A tip: look past their resume. Often, a person’s personality will tell you whether they’re a perfect fit.

 

Invest In Insurance

It’s tempting to see an insurance policy as a waste of time. For the most part, it’s money which never bears fruit. So, many small businesses decide not to invest in multiple coverage options. Unfortunately, when there is an issue, these companies are vulnerable. Insurance isn’t an ROI type of investment but a contingency plan. Should there be an issue, the policy will cover the costs. Seen as small firms don’t have a lot of cash flow, it can be the difference between staying open and shutting down.

If you’re ready, on your marks, get set, and go!

The Excitement Of The Housing Market

If you’re deciding to enter into the property market, then you’re in for a treat. There’s so many rewards of entering into it. Whether you’re going for a career, you first time on the property ladder, or investment, there’s something to take the interest of everyone. This article is going to explore a few of the ways the housing market can be exciting for different people.

 

Buying/Selling

Some people might say that buying or selling a home is one of the most stressful experiences there is. But at the same time nobody can deny that it isn’t one of the most exciting as well. If it’s your first time buying, you’ll definitely go through a whirlwind of emotions. You’ll have the stress of saving for your deposit, and looking at houses that you’ll fall in love with, but will be gone by the time you’re ready to buy. You’ll then have the highs of finally having the deposit ready, and viewing houses that you’re hopefully going to move into. The comes the stress again with sorting out moving fee’s, and actually getting into your new home. Then comes the high again of having your own home. Whirlwind of emotions right? Selling is pretty much the same, except you have the added stress of selling a house. Sometimes offers will fall through, or you may not get the asking price you needed.

 

Career

A career in real estate is a multitude of things. It’s stressful, rewarding, and most of all exciting. There’s a lot of money to be made when it comes to real estate. Securing a sale on a house can mean you receive a lot of money from commission. The happiness you’ll see in people’s faces when you help them get the sale they want is also so rewarding. But it is hard work. You’ll most likely be spending a lot of hours a day either at the office, in meetings, or taking clients round houses. You will be pressured to meet targets, but the rewards of that outweigh everything.

 

Investment

It is common now for people to be investing in properties in order to make a little extra money. Whether they’re investing to do a property flip, or to rent a house out, either one is an exciting time. It isn’t a stressful as buying or selling, because you don’t have the whole moving element involved. But it is stressful in terms of the risks involved. If you buy a run down property, flip it, and it doesn’t sell for your asking price, you’ve wasted a hell of a lot of money. If you’re investing to rent, things are usually a little easier as people are always keen to rent out a property. There will be a lot of help along the way from professionals if you need it, and you will need a large sum of money to invest in the beginning. It is common for people already owning a business to go into property investment, but anyone can do it.

Office Opportunities: Which Type of Office Space Is the Right Fit for Your Business?

Currently, businesses in New Zealand have more freedom and flexibility than at any other point in recent history. This is particularly true when it comes to environment. In Auckland alone, there is a long list of office rental options. It’s no longer a case of settling for a five-year lease and counting the days until it terminates.

Now, innovative vendors are turning corporate real estate on its head. Take Servcorp office space, for example. This respected brand offers everything from private, managed suites to remote offices designed for home-based businesses. It encourages companies to find a perfect match for their needs and routines, rather than going with what feels conventional.

Keep reading to learn more about the office options available in Auckland, Wellington, and the other big New Zealand cities.

Serviced Offices

The serviced workspace is the most conventional. As such, it has the most in common with traditional three to five-year leases. These offices are privately rented and used, as is customary. However, they have a very different payment and pricing structure.

With a serviced lease, you get all of the core utilities included in the quoted rental rate. Heating, lighting, cleaning, security, and general maintenance is covered by that single monthly fee. The rest is entirely up to you because serviced packages are fully customisable.

Coworking Spaces

Coworking environments are a little different because the physical workspace is not privately held. Instead, it is shared among all tenants and accessed on an independent basis. So, new members are given a passcode or key and permitted to visit whenever they choose.

The closest analogy would be something like a gym or a library. You pay for membership and everything contained in the site is available for use. There are a few exceptions, such as conference room access, which is usually hired for a small ‘one-off’ fee.’

Virtual Offices

Now, the virtual office is a step up from coworking spaces, in terms of mobility. It works in much the same way, but access is primarily remote based. Instead of making physical visits to the office, you pay to access a ‘virtual’ workspace, complete with all the same tools.

Think of it as being like a cloud version of the office, though a physical facility does exist. This is important because the staff at this building are your support network. They can manage phone lines, mailboxes, email accounts, and provide tech assistance.

Traditional Leases

You may still be interested in a traditional long-term lease, with a single private landlord. It is an arrangement that suits plenty of businesses, but do be aware of the downsides. For one thing, they are expensive to terminate. There may be heavy penalties for early departure.

In some cases, the tenant must continue paying for the lease until another is found to take their place. It is a costly affair and a common one because it’s not always possible to know where your business will be in three or four years. Think about this when making your choice.

Why Variety Is the Future of Corporate Real Estate

The business world is moving towards a place of increased customization and choice. The growing popularity of flexible vendors, particularly in New Zealand, is compelling evidence of this. Modern entrepreneurs want their workspaces to fit them and not the other way around.

So, expect to see a lot more bespoke deals, personalised packages, and unique arrangements. Don’t be afraid to get in on the action either. If you feel like a traditional lease is lacking in flexibility, consider one of the alternative options.