Category: Content

Long before social networks, various brands, and entrepreneurs used email marketing in business to maintain a communicative relationship with their customers. They would use email to communicate about news promotions and to provide assistance.

Because of new technology and other marketing and relationship development advancements with customers, many wonder if they should still use emailing in their business. This question is a great one to ask.

It should still be considered a marketing and communication tool to interact with customers because most customers have an email account. While many emails will be ignored by most of those receiving them regarding marketing materials, statistics show it is still a powerful marketing and communication tool.

What is Email Marketing?

Also known as advertising by email or commercial mail, it sends a commercial message directly to users, using email as a conduit.

In this sense, the email is sent to clients or potential clients. Typically, it implies using an email, sending messages of announcements, requests of sales, requests of businesses, donations, etc. This marketing type aims to generate trust and loyalty towards the brand.

Email marketing can be made to a list of current customers or purchased lists to send messages to improve the company’s relationship with its customers, achieve customer loyalty to our products, increase sales by acquiring new customers, or convince current customers to buy something immediately after the message.

How to Use Email Marketing

First, it is essential to remember that to send a marketing message, the authorization of each recipient can be explicit. Opt-in: when you register in one of your lists, it can also be implicit, which means that authorization is granted when acquiring any of your products. In this way, the user can unsubscribe if they think the content is irrelevant.

These lists are an essential asset for business, as they bring together people who have shown interest in the brand. The emails can have different themes, but they must always keep the same line, such as providing value to the client. The messages should be perceived to establish communication and a continuous approach towards counseling.

For example, you could send messages with diverse themes, such as:

• News on an ideal topic for you or your company.
• Offers or promotions in your products or services.
• Relevant information for your client.
• Ads about your business
• Events that you attend

As a rule of thumb, campaigns should always be where your recipients find some value. It is not a matter of sending messages with what you have to offer. If so, you could fall into the so-called SPAM emails, and undoubtedly, the attempt to get closer to your customers in this way will turn against you.

How to Make a Good Email Marketing Campaign

If you want to get good results with this online marketing strategy, working on the content of the messages is essential. However, it is not the only element to consider.

It is also essential to take care of the presentation of the message. It means using a suitable template and checking the text’s spelling, length, and content to be attractive. Likewise, it is essential to ensure all the elements are visible correctly because the size of some images can create problems.

What are Commercial Emails for?

According to experts in online marketing, email marketing serves to:

• Maintain contact with clients.
• To bring news and news to a diverse audience.
• Maintain our brand as number one in the mind of the consumer.
• Get opinions.
• Generate the customer’s commitment to the brand.
• Develop content strategies

Email marketing campaigns have to his favor that offer the possibility of measuring the results in real-time through diverse platforms that allow detailed campaign analysis. It is vital to remember that the results will probably not be obtained.

First, previous work, patience, and perseverance are necessary to get an effective email marketing campaign for your business. Finally, it is crucial to understand that email marketing campaigns are adaptable to your business and its needs, but they require a lot of work, dedication, and monitoring.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When starting and operating a small business, the chances are that you will need to get financing through a business loan. Over the business’s life, you may need multiple business loans as it is common to require funding for startup costs or expansion.

At some point in your life, you must have encountered this famous accounting equation, “Assets = Liabilities + Owners Equity.” Liabilities consist of short- and long-term payable options, also called business loans.

Business credit is a catalyst in giving the business a well-needed push, especially in its initial stages when things are below the break-even point. Owner equity alone is not enough to cover all financing requirements.

Hence, loans are the backup option when owners’ equity cannot fulfill commercial needs. Before obtaining a loan, you have to determine if you need one and if you qualify. Here are five reasons you may need a business loan and why the loan could be denied.

Starting the Business

The dawn of the 21st Century has ignited the passion for entrepreneurship in the hearts of millennials, thus giving rise to several young business minds. As a result, millions of startup companies are in every corner of the globe. Business loans are the first option for these young entrepreneurs to execute their unique ideas without worrying about the sources of finances. 

Growth and Expansion

Long-term investments are the key to sustainability working in this dynamic environment. Management cannot spend big in one go, so they look for long-term business loans for future investments. Obtaining a loan for growth and expansion is common and generally easier to get than a startup loan because the business is established.

Acquiring Supplies and Equipment

Spending the cash in hand is too risky to purchase the inventory or equipment, keeping in mind the fixed expenses of the business. A company that is highly sensitive to seasonal fluctuations cannot precisely predict future inventory requirements; hence, they run out of inventory most of the time. Short-term loans always save their day by maintaining the balance.

Keep the Business Going

Well, expenses are the most heartless creature in the Corporate World! No matter how rapidly your sales are going down, expenses will remain fixed. For many reasons, reporting lower or no profit is reasonable for running a business. This phase is temporary, and business loans keep things from crashing.

Retaining Top Talent

In expansion, extra money is already tied up in different projects. New projects can only be successful if you have top talent on board. You cannot reap the fruit in the early stages. To remain competitive in the market, Management must approach different institutes for credit purposes to pay off their key employees’ salaries.

Reasons a Business Loan is Denied

Businesses can become essential for some people to launch their startups or to expand an existing company. Business loans help secure inventory, rent functional space, purchase equipment, hire employees, and cover other tremendous expenses. But small business owners face difficulties due to seven reasons:

1. Poor credit history
2. Lack of a solid business plan
3. Limited cash flow
4. Disorganization
5. Too many loan applications
6. Failure to shop around
7. Failure to seek expert advice

Conclusion

Business loans and Owner’s equity are the two engines that generate the necessary power to uplift the organization. When owner equity fails to deliver the energy needed for the system, business loans back it up with long-term and short-term credit options; on the contrary, excessive loans can be disastrous for the organization. A compelling study needs to be carried out to measure the payback ability of the firm to avoid any significant blow. Only then can management decide whether it’s worth taking the risk.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Billboards and newspaper advertisements were formerly the most effective methods of advertising your brand and products. Digital marketing is a must-have for all businesses, and developing the appropriate tactics is critical to success.

However, digital marketing has numerous possibilities, and determining where to begin may be stressful, if not downright panic-inducing. The world of online marketing has evolved, and there are undoubtedly multiple methods for marketing your website online.

The good news is that while these are distinct marketing categories, they can all operate in concert to help you reach your objectives and expand your organization.

Different Disciplines of Digital Marketing

Online marketing can be divided into six distinct disciplines:

Material marketing: Creating and distributing meaningful content to attract, educate, and retain your target audience.

Native advertising: Also known as advertorials, native advertising is a sort of online advertisement designed to resemble the editorial content of the website or newspaper being promoted.

Pay-per-click (PPC) advertising: PPC is a form of online advertising. Advertisers are compensated every time a user clicks on one of their advertisements.

Search engine optimization (SEO): This is optimizing a website to become search engine friendly and generate organic traffic.

Social media marketing: Promoting a product or service via social media networks. Typically, this is accomplished through a social media management platform.

Email marketing: A marketing strategy that uses email to communicate with and nurture potential and existing clients.

What is the Definition of a Digital Marketing Strategy?

A digital marketing strategy outlines how your organization will accomplish its objectives through an online search and social media channels. Most strategic plans will explain which online channels and digital marketing methods you intend to use and how much money you intend to invest in these channels and strategies.

Establish Your Brand’s Identity

Establishing your brand is the first step in implementing a successful digital marketing strategy. Understanding your brand’s ins and outs is critical to effectively marketing it to your audience.

Define what makes your business distinct. What unique value proposition do you bring to the table that your competitors do not? Understanding what makes your business distinct from advertising to your target demographic is critical.

Establish Buyer Personas

It would be best to determine who you are attempting to target to develop an effective digital marketing strategy. The next step in developing your digital marketing strategy is defining your target demographic through buyer personas.

Buyer personas are fictional characters who embody the characteristics of the people you’re attempting to convince to purchase your products or services. They personify your ideal consumer and will most likely purchase from your firm.

Establish Your Objectives

Identify your objectives before going on a marketing journey to reach your target audience. Establishing goals to identify whether your marketing plan is effectively growing your organization is critical.

When setting goals, include both little and large ones. Your little goals should remind you to stay on track toward reaching your larger goals.

Select Your Digital Marketing Channels

If you want to learn how to establish an effective digital marketing strategy, the first step is to select the appropriate digital marketing tactics. You know who you’re attempting to reach and your objectives; the following step is determining which channels will assist you in accomplishing them.

There are numerous ways for your organization to obtain these leads:

• Optimization of search engines (SEO)
• Advertising on a pay-per-click (PPC) basis
• Marketing via content
• Marketing via email
• Marketing using social media
• Marketing via influencers

These are just a handful of the channels available to reach your audience. When developing your digital marketing strategy, you must decide how to reach your audience.

Set a Budget

Your campaign’s funding is critical. Before executing your tactics, you must determine your budget for digital marketing. A predetermined marketing budget enables you to allocate funds to the services you require more efficiently.

Measure the Outcome

A digital marketing strategy should always include a method for tracking results. Measuring results is critical for assessing whether your business’s efforts were practical. It’s vital to regularly check your results to ensure you’re running the most effective campaign possible.

You can measure the success of your campaign by examining key performance indicators (KPIs). KPIs are metrics that assist you in determining whether you have achieved your objectives.

Conclusion

Most businesses need a well-defined digital marketing plan. A lesser proportion of respondents have yet to connect strategy and marketing. Most businesses are unprepared and ill-equipped to deal with the needs associated with developing their digital marketing plan.

While it may seem tempting to rush in and begin on as many platforms as possible at once, thinking to yourself, you’ll figure out the details afterward and shoot yourself in the foot. Without precise goals in mind, running any form of marketing campaign (even search engine optimization) is akin to going around Paris without a GPS—more it’s akin to jumping on a sailboat without a map, where you’re likely to be trapped drifting someplace at sea.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The healthcare industry has multiple challenges, and Artificial Intelligence (AI) can help healthcare professionals deal with them. Despite privacy and data integrity concerns, AI seems to be promising for managing health and wellness. Several new technologies are being made available now and then, broadening the horizons for healthcare professionals and patients alike.

AI is rapidly transforming the processes of medical research, medical devices, and drug manufacturing. So, how can AI be applied to the health and wellness industry? Let’s look at ten ways.

Development Of New Vaccines

It is perhaps the most critical use in the post-COVID world. Some vaccines need specific compounds, such as adjuvants (compounds that assist the immune system in warding off disease). These compounds have to be discovered after analyzing a large number of new combinations.

AI can help analyze massive databases that would otherwise take much more time to analyze. One recent example of this is an adjuvant that Australian researchers have identified for use in modern flu vaccines.

Drug Repurposing

Drug development is a complicated, time-consuming, and expensive process. On average, it is estimated that a new drug takes about $2 million and ten years to move from the development stage and get federal approval.

For this reason, many drug manufacturers take one approach to repurpose already-approved drugs and find new applications for them. This process requires comparing the effects and structure of unused drugs to existing treatments. AI can be of significant use in this area as it enables researchers to select potential drug repurposing candidates in less time.

Virtual Nurses

Healthcare facilities are often in situations where they are short of staff or funds, for instance, during natural disasters or a pandemic. In such cases, patients may be left unattended. It may cause them to stay unaware of their condition and how to deal with it.

Medtech companies have created Virtual AI nurses capable of providing 24/7 bedside support. These AI nurses can utilize details from the patient’s medical records to update patients about their health, provide treatment recommendations, and build personalized relationships.

Clinical Support

Treating patients requires doctors to utilize the available medical literature, especially regarding rare health issues. However, due to the large volume of medical literature and time constraints, healthcare professionals can often use the medical literature well. It can affect the quality of treatment that they can provide.

AI can quickly scan the literature and present it in simple language to make it easier to use quickly. Several clinical support models have been created using AI to utilize this strength. These models offer unmatchable clinical support to doctors and other healthcare professionals.

Data Extraction From Medical Records

Maintaining medical records for patients is a crucial requirement in healthcare because they hold vital information that informs diagnosis and treatment. With the significant number of patients and each electronic health record (EHR) containing multiple documents related to their medical history and treatment plan, it is hard for healthcare professionals to extract meaningful information quickly.

AI models are helpful in this area because they can quickly parse through medical records, fish out essential information, and present it in a simple format that doctors can quickly read.

Prediction of Adverse Drug Events

Adverse drug effects refer to problems caused by medicines. Healthcare professionals attempt to avoid causing adverse drug effects when prescribing or administering drugs. They do this by carefully selecting the drugs according to the patient’s medical history.

Nevertheless, sometimes problems can occur due to mistakes. On average, ADEs may lead to up to three more days in the hospital, amounting to $4 billion every year. This problem can be solved with AI, which can quickly go through a patient’s medical records and help doctors make informed decisions that lead to adverse drug interactions.

An excellent example of AI in action is the Parkland Memorial Hospital in Texas, which used a customized AI model to identify the possibility of ADEs. They managed to prevent over 2,000 ADEs over two years.

Improvement in Pathology

Pathologists have to spend long durations analyzing tissue samples to study signs of diseases like cancer. AI models can help quickly identify irregular tissue samples, speeding up the process significantly.

Lung Cancer Screening

Doctors must use a standard CT scan of a patient’s lungs to screen for lung cancer. While this is an excellent way to detect lung cancer, it is very time-consuming. There is also the risk of overexposure to dangerous levels of radiation.

AI has been helpful in this case as well. The latest AI technology in this area can speed up the screening process and refine completed scans. With this technology, doctors can get the same or better results with low-dose CT scans, making the process quicker and safer.

Detecting Other Cancers

AI is also helpful in the detection of other types of cancer, such as breast cancer. It helps refine the results, streamlines the diagnosis process, and saves precious time.

Information Management

AI has significantly contributed to the management of information in the healthcare industry. It has allowed systems to be more streamlined and accessible. The benefits of this include patients getting medical attention faster, increased comfort, a lesser strain on healthcare professionals, and the possibility of innovations like telemedicine.

AI is useful in another aspect here. AI-powered educational models can help doctors and other healthcare professionals boost their learning and skills by making access to knowledge and resources much quicker and simpler than ever. 

There are many areas where AI seems to be promising. As healthcare professionals and the general people become more open to giving AI technology a shot, the world will observe a significant transformation in providing health and wellness services. The healthcare industry constantly faces several challenges, and AI could be the answer.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Many businesses that manufacture products have to consider quality and price. When comparing quality to price, lower pricing doesn’t necessarily mean lower pricing equals lower quality. Here are ways to consider quality and pricing and how it compares.

Watch Your Product Budget

What is the definition of quality? According to ISO 9001, “Quality is the integration of the characteristics that determine to what degree a product meets the consumer’s needs.”

Additionally, the quality standard is subjective; therefore, obtaining products based on opinions is generally not as effective. Therefore, different laws have been specified, such as the one mentioned above from ISO and other international entities.

Studies have determined that products that frequently cost up to three times more than the competition are not entirely compliant. In this regard, there are also examples visible to the majority, such as the comparison between Asian and Western markets, whereby ” changing the name ” of an Asian brand by its Western counterparts, the price increases without seeing benefits or changes in the finishing of products. These changes are known as re-branding.

Low prices do not imply that the product is of poor quality. However, reducing production expenses and other processes is not subject to certification tests or standards subject to quality. Therefore, to make a purchase looking for quantity with low prices is to know that it will be a product on a tightrope, which in this sense will be the time of duration or useful life.

Saving Money

When it comes to a specific buyer, acquiring many products may mean buying products to use longer and save on the final costs. This strategy is widely used, especially if you intend to try both cheap and higher-value products. Sometimes, the first mentioned is the one that pleases the public the most! From what we again indicate, quality can be subjective.

In companies, purchasing products must be linked to economic needs to increase production or slightly improve their workforce’s conditions.

Businesses going through a production decline and merit products quickly (acquisition of inputs, processed raw materials, services) can opt for quantity before quality, but of course, always taking everything as a transitory stage, and that “quality is synonymous with customer loyalty.”

However, this should not be taken lightly, and the CEO should evaluate all the variables at stake. Predictive statistics can be valuable here and see the behavior of a newly acquired product over the long term.

I Have Spent all My Money on a Product that Does Not Fulfill its Promises. What do I do?

What happens if buying something of high value does not cover my expectations? The products with a warranty usually give a useful lifetime or expiration (clothes, such as a finite number of washes). If you have not met and feel that you have been “scammed,” you can go to the services of a lawyer and make the complaint.

In addition, experience in such situations is an infallible teacher. Once you have spent large sums on products that end up not being what they claim to be, why buy again? In fact, in these situations, we apply what we mentioned before regarding the quality and loyalty of the product.

Hopefully, this article has been beneficial and remember: first analyze the budget, needs, and if you intend to use the acquired long or short term. If it is in the business world, be more careful because your company’s reputation could be put at stake, and we are not talking about external customers. Still, about internal ones, that is your workforce.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Investing is the best option to enjoy a stress-free future. But the term ‘investing’ may reflect the stock exchange image, or perhaps you might think it is for those wealthier, older with lots of money or business titans who are further along in their careers than you.

Investing money is a dream for beginners and mid-range workers. It is far from the truth. When it is done with full-proof planning, investment for mid-range investors is the best way to acquire wealth and secure your future.

Many investing ideas benefit anyone regardless of income, career, or planning to invest as a beginner, mid-range, or established business owner. These factors will influence which investment idea is best for you.

Since most people have less money for investment than tycoons, consider that sensible investment means low return. However, it is okay to start from less and then put more money into an investment. Here are five investment ideas for middle-income investors.

High Return Saving Accounts

Saving accounts provide higher rates of return than you will get in a traditional bank savings. It is an excellent opportunity for mid-range investors. Saving accounts are best for short-term savings or money you need to access in the future. Transaction from saving accounts is limited.

Since you are in the mid-range and might have invested in traditional bank savings, you may have the basic knowledge of these accounts. Still, if it’s your first time investing, a rule of thumb is to keep between three- and six months’ worth of living expenditures in an account. Investing in savings accounts gives you flexibility and a high rate of return.

Certificate of Deposit (CD)

A certificate of deposit is the most widely preferred investment option for mid-range investors. The CD is a savings account that offers a fixed interest rate after a particular period. If you are planning to invest in it, then go for it. The deposit certificate is an excellent idea if you plan to increase your money from four to five digits.

Remember to get out of your money before the designated period. You will have to pay a charge. So, don’t purchase a certificate of deposit if you plan to take it out soon.

Corporate Bonds

A corporate bond is an investment in which you provide a loan to a company, not the government. Since the government does not back these, making them a riskier option. But since you are a mid-range investor, you know that a “high-risk rate equals the high return.” So, why not give it a try?

High-level investors are also looking for fixed-income security with a higher yield than government bonds and are willing to take a little risk in return. The best part about investing in a corporate bond is that the higher the company goes out of the box, the higher the yield and benefits.

Individual Stocks

Another best investing idea you should consider is individual stocks. It represents a share of ownership in a company. They will provide the most significant potential return on investment while exposing it to high volatility. It is best for mid-range investors ready to take a little risk—the best way to buy stock is through an online broker. Once you register and fund an account, you will choose your order type and become a shareholder.

Real Estate

The traditional real estate process involves buying and selling a property for profit. But there are other alternative ways you can opt as a mid-range investor. Real estate platforms have become popular in recent years, often pooling investors’ money to invest in real estate projects.

In a nutshell, mid-range investors consider one of these options the best way to build wealth over time. You have to understand which investment idea fits best with your budget. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Real estate is critical to the US economy. Residential real estate primarily serves as a source of housing for families. It is also the primary source of wealth and savings for many Americans. Commercial real estate, which includes apartment buildings, stimulates the economy by providing retail, office, and manufacturing space. For millions, the real estate business and investing provide a source of revenue.

Last year, real estate added $1.15 trillion to the US economy. This calculation equates to 6.2% of gross domestic output in the United States. It is higher than the $1.13 trillion recorded in 2017 but remains below the $1.19 trillion recorded in 2006. Real estate construction accounted for a sizable 8.9% of GDP at the time.

Real estate construction is a labor-intensive industry that contributes significantly to job generation. Housing construction declines significantly during a crisis, contributing to the recession’s high unemployment rate.

Ripple Effect

Construction is the only sector of real estate that is quantifiable in terms of GDP. However, real estate significantly impacts several other aspects of economic well-being that are not quantifiable. For instance, a residential real estate sales reduction eventually falls in residential real estate prices.

This drop reduces the value of all homes, regardless of whether owners are actively selling. It decreases the number of homeowners who can obtain home equity loans. This decrease reduces consumer spending as more homeowner cash is invested in home improvement initiatives.

Almost 70% of the US economy is built on consumer spending. Reduced consumer spending contributes to the economy’s downward spiral. This spiral further decreases employment, income, and consumer expenditure. Without intervention by the Federal Reserve in interest rate reductions, the country risks entering a recession. The only advantage of reduced housing prices is that they reduce the likelihood of inflation.

Real Estate and the Great Recession of 2008

There is no better illustration of real estate’s economic influence than the 2008 financial crisis. The decline was initially precipitated by falling housing values, but few recognized it then. According to the National Association of Realtors, the median price of an existing single-family house was down 4% from its October 2005 peak in July 2007.

However, economists couldn’t agree on the magnitude of the problem. While the terms “recession,” “bear market,” and “stock market correction” are well-defined, the same cannot be said for the housing market.

Many compared it to the 24% decrease experienced during the 1929 Great Depression. They also compared it to the loss of 22% and 40% in oil-producing areas in the early 1980s. By those measures, the slump was insignificant.

However, the crash gained momentum swiftly. According to several economic studies, housing price drops between 10% and 15% are sufficient to wipe out homeowners’ equity. This issue occurred as early as 2007 in several Florida, Nevada, and Louisiana areas.

Most Americans predict the housing market will implode within the next two years. They see stagnant property prices and the Fed beginning to lower interest rates. To them, it appears to be a bubble about to explode.

However, there are numerous distinctions between the present housing market and 2005. For instance, subprime loans account for a lesser share of the mortgage market (though they are growing again under the “nonprime loans” name). They contributed 20% in 2005. Additionally, banks have tightened lending standards. Home flippers must contribute between 20% and 45% of the cost of a home. They required 20% or less during the subprime crisis.

Most importantly, homeowners are not removing as much equity from their homes as they once did. In 2006, home equity reached $85 billion. 2010, it plummeted to less than $10 billion and remained there until 2015. It has only increased to $14 billion by 2017.

One significant reason is that fewer people are declaring bankruptcy. Only 770,846 people declared bankruptcy in 2016. 1.5 million people did so in 2010. According to some economists, this is a result of Obamacare. With more people insured, they are less likely to be overwhelmed by medical expenditures. These distinctions reduce the likelihood of a home market collapse.

Economy and Real Estate

Real estate is a significant driver of economic activity in any country, from property purchase and sale transactions to all related activities. Consider every home in your country, including every neighborhood you see daily. Every one of those houses presents an investment made by someone and the effort invested in owning that property.

You own and hold a piece of property for an extended period; it can be defined as a savings account. Real estate can offer a significant gain in value. It allows people to go to dinners and spend money on other items, increasing the economy’s worth.

Additionally, homes require extensive maintenance and care, which includes a separate category in and of itself since it generates jobs. This generation of jobs stimulates the economy since those individuals buy or rent vehicles that cost money and consume fuel that promotes the economy for betterment, and the cycle continues.

Additionally, home remodeling is a significant engine for job creation. When homeowners improve their properties, they purchase raw materials, which fuels the economy.

The EndNote: Real Estate – The Best Investment Opportunity 

The size and scope of the real estate arena attract and reward a large number of investors. Investors can invest in real estate or indirectly via managed funds. Direct real estate investing entails purchasing commercial or residential property as an income-producing asset or future selling.

Indirect real estate investment options include ETFs, CREFs, infrastructure funds, and REITs. Because of the market’s increased liquidity, lower capital requirements, cheaper transaction costs, and regular investors indirectly participate in real estate. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

A merchant account is a bank account that permits your company to accept and process debit and credit card payments from clients. Although we are still distant from becoming a truly cashless society, almost every customer relies on a debit or credit card to make most of their regular purchases. Card acceptance leads to enhanced sales and prevents losses from customers who usually carry little or no cash.

A merchant account requires a company to partner with a merchant-acquiring bank that promotes every communication in an online payment transaction. Merchant account relations are significant for online businesses and are a crucial aspect of business management for most merchants. They have numerous options when selecting a merchant account service provider.

If a business opts for cash transactions instead of online deposits, it would not necessarily need a merchant account and could get just the primary deposit account.

When a client pays through a credit card, the funds are primarily deposited in the merchant account and eventually transferred to the business bank account. Here are seven steps to obtaining a merchant account.

Get Your Business License 

To get a merchant account, you’ll require a business license. Depending on the industry of your business, you might need to obtain multiple of them. With that said, your state anticipates what license you require, so you’ll need to value the specifications you fall into.

When you register for a merchant account, the insurer will inspect many documents to make their decisions. Your business registration by the state will authenticate your application and lead to quicker approval.

Obtain a Business Bank Account 

After getting registered, you’ll need to obtain a business bank account. Usually, this is a checking account associated with businesses with multiple owners and is arranged through a financially stable bank. The merchant service account will utilize your business bank accounts for online cash transactions. For this purpose, your customer’s purchases will go through this account.

Authenticate Your Business Structure 

When starting, it is a significant step for new business ventures. How can you understand your business’s requirements without knowing the business structure? The structure will bring you closer to a merchant account that can tackle your business correctly.

Add Refund Policies and Terms of Conditions

By utilizing online tools, develop compliant terms and conditions and a refund policies section to protect your site as the customers use the products and services. Including these facile policies will precede your merchant account approval and reduce possible refunds.

Ensure Your PCI Compliance

When your company decides to start accepting credit card payments, it’s time to consider PCI. Although your business doesn’t need to be PCI compliant before obtaining the merchant service account, starting sooner rather than later would be feasible. The following ways will enhance the security of your customer’s information.

• Make sure that sensitive data vanishes properly
• Enable versatile policies on passwords

Complete the Online Application

The keystone to getting a merchant account is completing the application. You must present the application and the required documents to the merchant service provider to get approved. Follow up with the provider you’re applying to support your venture and the desired features.

Review the Fees 

Merchant accounts contain a variety of costs that depend on the method used to process them. For instance, a credit card attendant might charge you additional fees for the card, so you must read the contract carefully to understand the purposes for the applicable fees. These costs might be structured in several ways, so ensure that you truly understand what you’re paying for.

Merchant account providers charge monthly fees as well, and it is paid to the merchant acquiring banks to cover specific virtual payment risks that might arise from a transaction and settle the transaction funds.i. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

A general ledger keeps a record of all the financial transactions within a business. The transactions recorded are then used for bookkeeping and accounting purposes. The general ledger includes all the data needed to produce the company’s income statement, balance sheet, and other financial reports.

Generally, the general ledger will be kept current by the business owner, a professional accountant, or a bookkeeper. All the data in the general ledger must be current and accurate daily as it is crucial to business operations.

Before the digital age, the general ledger was a book where daily accounting information was recorded and balanced by hand. Today, the business accounting person will use accounting and bookkeeping software to record the data and produce financial reports.

Handling the finances of a company can be challenging. While hiring an accounting or bookkeeping professional is suggested, every business owner should understand the general ledger and its function. Here is everything you need to know about a general ledger.

How Does a General Ledger Work?

The general ledger is created to organize data and keep records of each financial transaction of the business. Transactions are posted to individual sub-ledger accounts, as defined by the company’s chart of accounts. Each account is closed at the end and is summarized on the general ledger.

The final balance is then used in the trial balance by the accountant. The general ledger is created by the double-entry method. In the double-entry method, an entry to one account requires an opposite entry to another to balance debit and credit balances.

General ledger accounts are also known as “T accounts” due to the way they are formed. The transactions are first recorded in the journal, known as journal entries, then transferred to ledgers. The most common ledger accounts are sales journals, purchase journals, cash receipt journals, and cash payment journals.

There are many other accounts, but these are the four main journals. The purpose of double-entry accounting is to make sure the primary accounting equation balances. The primary accounting equation is Assets = Owner’s Equity + Liabilities.

Why is a General Ledger Important?

The general ledger is vital to the financial operations of the business. The data provided in the general ledger ensures that your trial balance calculations are accurate. It also makes filing tax returns easy because you have expenses and income in one place. Additionally, the data provided helps you spot unusual transactions immediately and prevent fraud.

Can Accounting Software be Used to Create a General Ledger?

There is accounting software made specifically to create a general ledger. General ledger software provides a complete record of the financial management of a business, including transactional records.

Using accounting software is beneficial as it is quick and easy. The general ledger software automatically posts entries from respective account ledgers and calculates the current balances according to the specified date. The best accounting tools to create a general ledger are QuickBooks Desktop Enterprise Software, Dynamics 365 Software, Xero, Wave Accounting, Happay, and Brokermint.

Understanding and creating a general ledger in your business accounts is imperative as a general ledger is the foundation of the other accounting activities. A general ledger follows the basic accounting equation, which is:

Assets = Owner’s Equity + Liabilities

The importance of a general ledger is that it provides an accurate record of all financial transactions, and it helps you compile a trial balance so your books balance. It is a way of preventing errors and locating frauds to keep the finances in the business safe and secure.

The data used in the general ledger is used in the business’s income statement, the balance sheet of the business, and other financial records. After completing the general ledger, a trial balance is created to ensure all the transactions recorded are correct. If the trial balance is not balanced, another “T account” is created for bad debts.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The social responsibilities of multinational companies are an essential component across the corporate sector. The aim is to accomplish all business goals while contributing to the world’s well-being.

There is a concept in society that business is about making a profit and ignoring society, the environment, and even fundamental human rights. The targeted audience thinks multinational companies devalue society and don’t fulfill social responsibilities.

Contrary to popular belief, entrepreneurs strive hard to eradicate such myths by creating a positive image by fulfilling their social responsibilities. Socially responsible multinational companies are now inclined more towards activities and interests for society’s welfare.

Various enterprises, including small-scale to Fortune 500 companies, create highly robust programs and plans to balance profitability and social responsibility.

In this blog, you will learn about the social responsibilities of multinational corporations.

Understanding Multinational Company’s Social Responsibility

The social responsibility of multinational corporations refers to improving society’s condition while ensuring business growth. Experienced entrepreneurs say that a company’s social duty is to consider and take valuable measures to fix societal problems. The agency’s narrow economic, legitimate, and technical needs aren’t part of that phenomenon.

Multinational corporations that want to serve society must track ongoing activities, policies, and performance measures to help bloom the society. It will be the best chance for multinational companies to contribute to society.

It would help if you created an effective corporate social responsibility model to implement such qualities. Successful entrepreneurs suggest dividing this social duties plan into four categories: legal, economic, ethical, and discretionary. Choosing a suitable category is up to you. For instance, you can select economic responsibility as a company’s foundation and primary function.

If you are focusing on discretionary, consider it as the top level. It should include a few voluntary responsibilities. Remember, these categories shouldn’t be exclusive. There is no need to achieve or implement each of these individually. You can practice these social responsibilities to advance your brand’s image and reputation in the market. Take every possible measure that satisfies a society’s needs.

Significant Social Responsibilities of Multinational Companies

It would be best to build your targeted audience’s trust to run a successful campaign. It helps you build a timeless reputation in the market. As a business owner, you need to fulfill your responsibility of addressing society’s expectations. It helps eradicate unnecessary myths related to multinational corporate social responsibilities.

Businesses move close to stability when multinational companies have a solid societal reputation. Business reputation is essential for agencies and consumers to determine the business’s authenticity and trustworthiness, which can quickly fulfill all expectations.

Social responsibility is the best way for multinational companies to create a powerful image before the client.

You can build your company’s reputation through seven dimensions of social responsibilities. Here, I am discussing major ones. Let’s read!

Citizenship

It refers to the company’s presence as a perfect societal corporate setting. These companies support a society’s welfare actions and secure the environment. As a corporate citizen, you can contribute to the projects inclined towards a society’s prosperity.

Companies can prove their dedication to society’s prosperity by eradicating societal issues and making drastic changes. Bringing revolution in information technology, education, healthcare, and food supply are also some ways you can fulfill your corporate social responsibilities. Companies can also help address poverty, corruption, water shortages, terrorism, natural disasters, and much more.

For a company to succeed today, it must take its social responsibility seriously and provide additional funding for society’s prosperity and welfare.

Governance

If you are running a highly dedicated company where everyone gets equal rights and respect, it is also a social responsibility. As a multinational company owner, provide all facilities to your employees and make the working environment free and fair where your workers can work with complete dedication.

Try to keep business transactions transparent. Make ethical rules and maintain the decorum of the company. You may also introduce the concept of helping others by setting examples and carrying out workshops or different welfare activities. 

Workplace

The workplace is one of the affective dimensions of social responsibility. Different employees of unique backgrounds work together to make a business successful. They are highly dedicated and expect thankful gestures from the company owners.

The agency’s core duty should be to provide and satisfy all facilities to their workers and satisfy them. Take safety measures, establish a friendly and peaceful environment, and conduct different informative sessions for business operations.

As a multinational company, we discuss innovative technologies and ask for unique ideas to stand out in society as the best social corporate citizen. It will help create a powerful image in society and increase your company’s authenticity and reliability rate.

Conclusion

Social responsibility is about revolutionizing society by working for its welfare. Multinational companies should be responsible for providing different funds for the prosperity and welfare of society.

Most amateur entrepreneurs don’t focus on this aspect. As the world evolves, consumers choose to do business with multinational companies that improve society. Companies must prove to society that they care about the people and the environment. In this way, society starts moving towards prosperity, and corporations get a chance to verify their authenticity and trustworthiness.

To fulfill social responsibilities, you must provide funds, participate in society’s welfare campaigns, and provide a free, fair, and peaceful environment to society while maintaining your company’s operations.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.