Getting Financing for Your Business

We hear about venture capital firms and angel investors, but if you are the typical small business or a start-up, you are not getting money from these entities. They are looking for investing large amounts of money in exchange for a big payout. If you are the average mom-and pop business (or just starting out), where do you get capital to start, expand or manage your cash flow?

If you are just starting out, you have no collateral to give anyone in exchange for their money. You have an idea for a business and hopefully you’ve done some market research to establish that someone will buy your product or use your service. Most banks will not talk to you about a loan. You will be self-funding your business. Most start-ups raise cash through the savings of their owners, the credit on their credit cards and maybe re-mortgaging the house. Occasionally, you will get funding from family members and friends who believe in you and your idea. They will chip in, sometimes in exchange for an ownership interest, sometimes just with a promissory note.

There are online microloans (i.e., Kiva) and crowdfunding platforms ( i.e., Indiegogo and Kickstarter). But microloans carry high interest rates and crowdfunding platforms typically require you to publicize your need for capital. Who will you publicize your situation to? Your family and friends. If you have an exceptionally catchy backstory, the crowdfunding platform may do some publicity for you but mostly you are responsible for raising the money yourself.

But, mostly, new entrepreneurs bootstrap their financial needs. They either work at a job while saving money before they open their business or reinvest any profits to buy more inventory or pay themselves a salary to live on.

If you are an established business, and cash flow is a problem (customers are paying slower than you are paying your vendors), then you will probably seek a different source of financing. You should start by asking your vendors if they will extend credit (payment in 30-60 days). If that does not solve your problem, you can ask your bank branch manager (with whom you’ve developed a relationship) if your bank offers business lines of credit. If you have substantial accounts receivable (your customers are not paying their bills to you), there are factors which are businesses that buy your accounts receivable from you, at a percentage of what they are worth. You don’t get the full value of your work, but you do get some quick cash. You can also use your accounts receivable as the collateral for a loan. You can increase the number of owners of your business – exchanging a cash investment into the business for a percentage of the ownership interest. Since your business has a track record at this point, you may find it easier to persuade others to invest in your business. The Small Business Administration offers all types of financing assistance through its lending partners, if you qualify (check them out at http://www.sba.gov). You can also check with your state to see if it has any programs that help finance small businesses. You can use your personal collateral for a personal loan and then lend the proceeds of the personal loan to the business. Be aware that if the business can’t repay you and you can’t repay your lender, you can lose the collateral, so be very careful if using this source of cash.

Financial Job Descriptions

Financial job descriptions

1. Functions of financial management

Depending on business field, functions of financial department in a company or in a financial service can include ones as follows:

· Analyze and evaluate the efficiency of capital management; manage financial risks of the Company;

· Examine, control and assess activities relating to finance, accounting and investment practices of the Company;

· Build up, make plan, estimate and balance the budget for short-term activities of the Company;

· Make action program and plan and proper financial decision in accordance to each development stage;

· Manage and conduct the operations of Finance Department;

· Create and apply international standards of finance management and investment activities.

· Build up a good relationship with foreign and domestic financial institutions.

· Improve financial analysis and forecast ability and decide the optimum solutions.

· Make an optimized solution to the investment in and quotation on the stock markets in Vietnam as well as in the world.

· Develop a well understanding of rules and legal requirements of domestic and foreign stock markets.

· Build up standard system for approaching and attracting national and international financial investments as well as standards for investment made by the Company.

· Make the general strategy and direction for the Company;

· Set development goals for the Company;

· Conduct and take responsibility for all activities of the Company;

· Take responsibility for the profit goal as well as the development and growth goals of the Company;

· Ensure the performance of current and future goals of the company as well as the expectation of the board of directors of the revenue, profit, product quality, human resource development and other activities;

· Prepare plans for business and marketing;

· Manage the workforce to ensure the best performance;

· Make reports clearly in a duly manner to the board of directors; send proposals to the board for approval;

· Evaluate the performance of every department.

2. Positions of financial department

Depending on quality and quality of the above functions, positions of financial department can include ones as follows:

• CFO job description

• Finance director

• Finance manager

• Financial analyst

• Financial controller

• Business analyst

• Finance assistant

• Finance Counselor

• Associate

• Consultant

• Planner

• Specialist

• Advisor

3. Financial job descriptions

To create samples of job description above, you should:

Identify functions of financial dept.
Setting up process/job instructions, detailed duties of each financial functions.
Assign each tasks for each position.
Write job description/job specification for each position.
Compare one by one and send them to board of directors for approval.

Top Ten Finance Jobs – The Best Financial Jobs

If you’ve got no idea which finance job would suit you best, worry not we’ve compiled a list of ten of the most popular financial jobs.

Auditor – there are two types of financial auditors, internal and external. The principle difference between the two types is who the employer is. If you wanted to be an external you would be employed by one of the big city financial firms. While internal auditors normally work within the company. As a consequence only companies of a certain size can justify employing internal auditors.

Banking – there are dozens of branches on every high street in every town, and that’s only the frontline staff for customers. By the time you’ve factored in all the behinds the scenes staff and the people working at head offices, the scope jobs offered by banks is huge. As well established companies, they offer some great benefits for employees with reliable job security.

Underwriter- insurance is a dynamic and interesting sector to work in. Underwriters are ultimately responsible for working out how much your premium is. Whether its car, holiday, health or any other kind of insurance there are specialist underwriter jobs which can provide engaging job opportunities.

Private Equity – though hugely complex, those working in private equity usually work funding business start ups. Often they are looking for a portfolio of investments where the individual projects might be quite risky but collectively creates a rewarding investment. Private equity typically attracts two types of people, industry experts who are able to identify the companies that offer the best chance of proving successful and those with more of a financial background who are responsible for managing the portfolio and the investments.

Payroll – the most important person in any company is the person responsible for payroll, they make sure you get paid! The larger and more complex the structure of the company the more difficult the role becomes. A good understanding of payments as well as the various tax and pension laws is vital for anyone thinking of pursuing a career in payroll.

Accounts Assistant- for many people it’s difficult to know where to start when looking for a career in finance, especially if you have no specific qualifications or experience. An Accounts Assistant job may be an ideal opportunity. These entry level positions offers a chance to experience many of the different disciplines which are involved in finance, which may help you decide where you would like to specialise.

Credit Controller – Accounts Receivable is one of the most popular departments to work in within a busy account department. Credit controllers roles can vary enormously but normally they job is based around ensuring that invoices created by the company are paid in a timely manner.

Financial Director – When it comes the Finance the FD is the top dog. Of course the size company makes a huge difference, but whether it’s a SME or a FTSE 100 company FDs are normally in charge of everything financial in the company. With these positions comes great responsibility but usually the experience of FD enables them to carry out their roles with confidence.

Management Accountant – Of all the disciplines of accountancy management accounts is among the most popular, usually they focus more of forecasting the future than assessing the past like auditing.

Business Analyst – while you get many different kinds of business analysts specialising in different industries, there are a significant number of financial business analysts who fulfil a role not dis-similar to management accountants. They are given responsibility for analyzing the needs of their businesses customers and stakeholders to highlight financial business problems and suggest solutions.

Natural Osteoarthritis Relief Supplements To Ease Joint Stiffness Safely

Joint pain and inflammation due to arthritis is a health issue reported in hospitals. How to alleviate this health issue safely and naturally? This is a common query heard from people. In this article, we are going to see the details of natural osteoarthritis relief supplements to ease joint stiffness. Burdock root is a fine example of natural remedy to treat health issues like joint pain and inflammation.

Today, you can easily get burdock root products from market in the form of extracts and capsules. In order to obtain the best result, feel free to select the right product manufactured from a reliable manufacturer. For effective health advantage, it is generally advised to drink a cup of burdock root tea twice per day.

Flaxseed is another natural cure to alleviate the risks due to arthritis. You can make use of flaxseed oil both internally and externally. Omega-3 fatty acid present in flaxseed is found to be very useful to improve the brain function and joint flexibility. In order to alleviate the troubles due to joint pain and inflammation, make it as a habit to include flaxseed in daily diet. Turmeric is another cure to improve the flexibility of muscles. Curcumin and curcuminoids present in turmeric is mainly responsible for its health benefits. Apart from treating inflammatory diseases, turmeric can be also used to prevent health issues like cataracts and cancer.

Nettle leaf tea is another safe cure recommended to reduce the risk of joint pain and inflammation. To get effective result, it is advised to make use of three cups of nettle leaf tea daily. Apart from relaxing muscles and nerve cells, nettle leaf tea is also found to be very useful to alleviate the risks of health issues like anxiety, stress and depression. Have you ever used licorice root tea? Licorice root decreases the action of free radicals and reduces the troubles due to joint inflammation. How can licorice root help to treat joint pain and inflammation? This is a common query heard from people. Glycyrrhizin present in licorice root is mainly responsible for this health benefit.

Suppressing the functioning of immune system is a key feature of licorice root extract. You can also make use of this herbal cure to ease pain due to arthritis troubles. Today, licorice root products can be easily availed from market in the form of extracts and tea powders. Hence feel free to make use of this remedy as per the need. Those with blood pressure problems are generally advised to limit the consumption of licorice root products.

How many of you do regular exercises? As per studies, regular exercising is found to be as a safe means to improve the flexibility of muscles. To get effective result, it is recommended to do exercises for at least thirty minutes per day. Rumatone capsule is one among the best sold products to treat health issues like arthritis. Improving muscle flexibility is a key feature of this herbal product. For the best result, try to make use of this remedy consistently for three or four months.