Tag Archives: Banking

Author : Dee Power

Angel networks were formed to benefit both the entrepreneur seeking capital and the wealthy individuals interested in making investments in early stage companies The networks can be easily found by entrepreneurs; they usually have a mailing address, a telephone number and contact name, and a website describing the group’s activities These groups in effect allow an entrepreneur to meet dozens of angel investors at once Membership in some of the groups can top 100 individuals

The angel members certify that they are accredited, which means they must meet certain income and asset levels However, there is no vetting or checking that the investor actually has those assets

Many networks operate this way: the entrepreneur sends an executive summary in through the mail or by online submission The network has a committee that screens the submissions and invites the most promising ones to either submit a complete business plan for review or make an in-person presentation to the group at a luncheon or dinner meeting, followed by a question and answer session A committee may be formed to perform the in-depth due diligence on the company and make a yes or no recommendation to the membership as a whole, who then vote on making the investment

The process can work efficiently for the entrepreneur The angel network often tutors the entrepreneurs on how to make an effective presentation, and prepares them for the tough questions they will be asked Instead of trying to meet angels on an individual basis, and get each one to agree to invest, the entrepreneur may be able to obtain all the start-up capital he or she needs from one source, the Angel Network

The major drawback to angel networks is simply one of numbers: because the Network is visible in the local community, it is contacted by hundreds of entrepreneurs annually Your deal is competing with all these others And sometimes, the network is not as open as it appears, or says it is Some do not review any companies that were not sponsored into the group by one of the angel members

Some angel networks charge a fee to present Their logic is that the fee shows the entrepreneur is serious about their company The networks explain that the fee covers the cost of processing the application, making copies, and other office expenses

Angel networks can be sent from heaven for those entrepreneurs looking for private investors

Download your FREE business plan format. Dee Power is the author of several nonfiction books. She writes on the subjects of how to repair bad credit and How to Write a Business Plan.

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Author : Thomas Pretty

Most businessmen will profess the advantages of possessing a business account The reason for this is mainly because a business account makes a brilliant financial tool, perfect for those wishing to run a small business There are so many banks out there offering differing types of business account that the choice can be laborious

It is important to get the choice right although with so much market competition many of the account on offer are similar, if not the same For the sake of your business however it is important to find one that suits your needs and allows you relax a little about your financial situation

A business account will usually come in the form of a transaction account, these are generally akin to the personal accounts many of us already have Although the levels of transactions may be increased they are fundamentally the same as personal finances

Such transactions include ATM, online, phone and cheque and are vital in the smooth running of your business An online business account can possess generous interest schemes, some as much as five percent and over In comparison to personal accounts this level of interest is rarely apparent, making a business account even more appealing

The reason banks have taken this route is due to the fact that business customers need wholly different services than personal banking clients The response has been the creation of a situation where business account options now saturate the market

Most businesses use their business transaction account as a means of handling receipts and understanding the extent of expenses When companies are producing a good turnover it can often be hard to keep a note of where the money is going, a business finances package can help you co-ordinate where your funds are going and at what rate

Opening an account with a bank is slightly more complicated than when starting personal finances, firstly it is only a business owner who can open the account There is also a great deal of documentation that must be produced, for instance if opening as a limited company you will need a certificate to prove this

Also the bank will want to see some form of business plan to ensure that their faith in you is not unfounded Making sure the bank sees your business as a money earner is vital as there willingness to help and even loan you money can be extremely useful; this all depends on what your business intends to do and what plans you have in placer to achieve growth

There are of course downsides to having a business account There are usually fees imposed by the bank that pay for the services you receive These however are usually wavered during the interim period so it is important to read the small print when signing up to see how much these fees will cost once the grace period is over Fees are usually worthwhile though, the services banks provide their business account customers are usually extensive Many banks will provide either an in-branch advice team or a telephone helpline you can ring for assistance; both are an asset that your business will need during its start up period

Put simply your business will need a business account It may seem wise to try and avoid the fees and carry out your transactions through your personal finances but this is rarely advisable The reason mixing your finances is so ill advised is down to a couple of reasons; firstly transparency is key, especially when it comes to the tax man, secondly for the sake of your business not getting confused over spending and transactions is vital to smooth running Ultimately for success, a business account is one asset you cannot live without

Financial expert Thomas Pretty looks into the importance of having a business account for the success of your business.

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Author : Rosamunde Bott

There may be many strategies for financial freedom, but the most important is probably your focus

Whenever you are walking or driving, you have to keep your eyes ahead of you, otherwise you would swerve away from your path An archer has to take aim in order to hit his target When a football player goes to score a goal, he has to see the ball hitting the back of the net before he kicks it

It is the same with creating wealth If you want to be rich you need to focus on what you want and keep focusing

You start by deciding exactly what your financial goals are and, most importantly, what you want the money for Visualize what you will do with the money Think about how it will help others: your family, your friends, charities or others Think about the lifestyle you can have When you have all this in place, you will know how much you need, either on a monthly or yearly basis Write this figure down Visualise having the things or the lifestyle that this money will bring, and do this daily

When you set clear financial goals you are doing something constructive for your future and ensuring your success Relying on luck, or just drifting, is destructive because you are denying yourself the power that you have to create your dreams

Setting goals can appear scary to some people because they are unsure how they are going to achieve them Often we prefer to only commit ourselves to something once we understand how we can achieve it

In fact, this way of thinking does not work Without commitment, your mind will not apply itself to discovering how to get there When you commit yourself to achieving something by setting a goal, without knowing how you are going to get there, your mind will begin to work on ways to fulfil your goal You will see opportunities that you may never have seen otherwise, and you will find ways of getting round the obstacles that are in your path

Deepak Chopra, the world famous guru of wellbeing, said you would not have a desire if you did not have the means to fulfil it Each of us has the power to create whatever we want

When you do not have clear financial goals you will simply drift along, moving into the future without any decision or definite purpose You may become a victim of circumstance, subject to the whims of dominating personalities and without the strength to set your own course

A vague idea of some day being rich is simply not enough If you really want to achieve wealth and financial freedom you must have a specific figure in mind AND a clear idea of why you want it If it feels easier for you, you can start out with a relatively small figure and then expand it when you reach it An easily achievable goal will provide you with the confidence to set a higher goal next time

Your goals may not happen overnight, but by thinking, visualizing and affirming them every day, the ways and the means to achieve them will gradually become clear and you can then take the action that you need to take

In all strategies for financial freedom you must always start with a very specific goal and focus Ask yourself “how much?” before you start thinking about “how?”

Ros runs her own online business and is also a successful writer and life coach.

Ros’s coaching site is at Career and Home Business Coaching

Find opportunities at her website at Financial Freedom Online

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Author : Lawrence J. Reaves

Maybe you have moved to a new place and are looking for a bank Maybe you’ve had one and are ready to make a change because your regular bank doesn’t meet your needs

First you should do research to find out what your options are, and create a big chart with all the results

And then answer the following questions:

1 Is your bank close to where you live or work?

How close is close enough for you may vary from person to person But do be sure to include the banks within walking distance (if there are any) in your considerations One day, your car may be down, and you’ll be glad to be able to get the cash for a cab or the tow truck!

2 Does it have convenient hours?

What is convenient for one person may not work for the next The longer the hours, the better Make sure they have at least some branches that have Saturday hours as well

3 Does it provide all the services you need?

Credit cards, personal loans, car loans, mortgages, investment services, online banking, bill pay? Even something as seemingly minor as getting your paper checks back can make a difference

4 Are their fees reasonable?

Be sure to compare carefully Some banks may have low basic rates but make their money back with high fees for other services, including extra check charges if you use or deposit more than a certain number in a month

5 Do they have enough ATM machines to meet your needs?

If you travel a lot, it would be helpful if they have ATM machines wherever you travel, or at least an arrangement with other banks to help you save on fees If you don’t travel much, just make sure they have them in the part of town where you spend most of your time

6 Are the bank’s employees friendly and helpful?

If you have complicated questions, will they have the time to help you? Do you feel comfortable there?

7 Are they easily accessible by phone if needed?

If they have very long opening hours, that may not be quite as crucial But you need to know that you can reach someone if you lose your ATM card on a weekend

8 Are they involved in the community?

This may not matter to you if you’re looking for a national bank, but if you’re looking for a local bank, community involvement means your bank is a good citizen It also means that you’ll likely be treated well over the years, because they care

So how did your candidate banks score? Be sure to go over these questions for each bank you’re considering If a bank scores a yes for all or even almost all the questions, you may have found the bank that is right for you

Choose the Richmond Virgina Bank that offers quality Richmond Financial Services to all it’s customers. Think http://www.firstmarketbank.com

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Author : Julian Lenox

It is a fact that as soon as we save a little money, we are told that it would be best if we kept it in a bank’s savings account Since everybody else does, why are we to suspect that opening a savings account can be the beginning of a nightmare? However, the truth is that before we embark on something as important as opening a savings account, we should do some research

There are several types of savings accounts, and all of them are trouble Let us start with the regular ones First of all, you need to have certain money in advance to be able to open the account So much for saving your money, you already started spending it to be able to save it

Another fact that should be considered when opening a savings account is that we are told that by keeping our money in a savings account we earn some interest, but the interest rate is as low as 1% A percentage as low as that one will not affect our savings significantly, that is for sure

In addition, you are required to keep a certain amount of money for the account to stay open If you forget about that fact, which may very well happen, and withdraw your money to make a payment, you will soon find that your account was closed

Having your account closed can cause serious problems, especially if you have automatic payments Another con of a savings account is that you do not get a checkbook with it If you want a checkbook, you need to open a checking account for a higher fee

Now let us review the ISA account These are individual savings accounts, known for being tax free However, there are many cons to this system These accounts have deposit limits Only a maximum of $3,600 per tax year can be invested in an ISA account

Also, the Inland Revenue service does not allow for investors to keep more than one ISA savings account More importantly, you are not able to withdraw money from your ISA savings account, because if you do you will find that that money is not able to be replaced in the account, and you will have to wait until the next tax-year

Just like with regular savings accounts, the interest rate for ISA accounts are extremely low, thus unattractive for the investor Also ISA accounts have a fixed rate, which means you are stuck with their rates even though they may be unfavorable

All in all, opening a savings account may not be a good idea It is important that you do your research and see if this kind of account suits your needs Otherwise, you may want to go for a different type of account, whose features are more attractive

Head of Advertizia, Julian J. Lenox appraises websites for Finance Top 100, a keen Finance websites opinions storage. Learn the details at Isa Interest Rates.

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Author : Caterina Christakos

So many investors have taken a “beating” in the stock market recently that more are looking seriously at the Gold market For anyone not heavily involved in the stock market, that may be a very good strategy to, not only prevent more loss, but to build their capital with the rising price of Gold Gold is predicted to reach $1,100 an ounce within this year (2009) Other optimistic individuals foresee gold reaching $2,000 an ounce at its peak Liquidating all of one’s investments into the purchase of gold is not recommended Neither is putting all of one’s capital into any other one vehicle Diversification is advisable Never put all your eggs in one basket, as they say

Many people are actually collecting the gold jewelry that they have lying around, not being worn and taking it to a gold dealer for the cash Maybe once they’ve done that, they will take the cash they receive and buy gold on the stock market as an investment

Let’s look at gold investment potential

For the sake of this discussion, let’s imagine you invested 10,000 in the gold market in 2000 By December of this year (2009) you would be looking at a tremendous profit in your investment approximately 238% or nearly $34,000 That same amount invested in stocks in the S&P 500 would be realizing a loss of near 40% in the same period of time There has even been a 198% rise in the investment of those owning rare coins Many strategists foresee gold becoming a real Bull Market, and the wealthy are not losing any time at buying gold for their investment package

Want some reasons to invest in gold?

Check these out The price of gold is determined by inflation, fluctuations in the dollar, and by increases and decreases in the other commodities Gold is produced for its intrinsic value as an accumulation commodity Gold is money

Gold is a hedge against inflation It is a hedge against the falling dollar Gold has been called the crisis commodity and has been shown to outperform other investments when there is world tension When banking crises occur, like now, everyone is looking for a safe haven and therefore, looks to investing in gold Gold will always maintain its value It is recommended as a diversifier for a stock portfolio Its price increases in value in markets that negatively affect stocks and bonds

Read more about the Gold Market on the internet or talk with a financial advisor to find out what the procedure is to convert one or more of your stocks or bonds into gold

What China is doing

China’s economy is expected to become the 2nd largest in the world by 2020, next to the United States And now, China is passing legislation go afford their population the ability to buy gold bars from their four commercial banks Gold is in It may be that the time is right for you to get on the bandwagon

Caterina Christakos is a private investor and published author. To get more information about the stock market visit: http://financialinvestmentsdirectory.com

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Author : Peter Kenny

If you are a student or have recently graduated, then there a large number of bank accounts and financial products designed specifically for you Although students used to be much derided for the large government grants they received, those days are long gone and students today have to be financially astute in order to avoid large debts If you are a student or recent graduate then here are some tips about the types of accounts to look for

Why so many student accounts?

Student and graduate accounts are more and more common, and they usually have a wide range of features and good rates Although students are generally fairly poor and cannot pay back money they borrow, banks want to offer these accounts to students in the hope that they will remain loyal to their company once they are earning good money

Student accounts

When you go to university you might have a simple current account, but the best thing to do is to open a dedicated student account Student accounts offer a wide range of benefits, including vouchers and discounts for clothing and record shops However, the most important part of your student account is the interest-free overdraft

Overdrafts

When you are at university it is likely that at some point you are going to need an overdraft facility to handle the fees whilst not bringing in a lot of money Therefore it is essential that you pick an account with a good interest-free overdraft limit Try and find the bank that has the highest level of interest-free overdraft, because any unauthorised borrowing will cost you a lot of money

Overall package

Although the overdraft limit is important, you should look at the overall account package Look at other fees and charges that the bank applies to your account, as well as the extra benefits on offer Some student accounts will offer students a credit card with their account amongst other benefits Try and find the best overall account package for your needs

Dedicated support

In addition to the account benefits, you need to make sure that the student account you choose has dedicated support, as this can help you when times are tough An even better option is a bank that has a branch on your campus, because a dedicated student bank manager is more likely to be sympathetic to your financial difficulties Online banking is also something to look out for, as this can help you move funds and pay bills quickly when you need to, as well as helping you to closely monitor your spending

Graduate accounts

Once you have finished university, many banks will offer you an upgrade to a graduate account It is worth looking at these when you get your student account, as the right student and graduate package can really help you to move smoothly from student to worker Whatever package you choose, don’t be afraid to move accounts and banks, and shop around before you make any decision

Peter Kenny is a writer for The Thrifty Scot.
Please visit us at Current Accounts and Graduate Accounts

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