Loyalty Rewards Programmes

There are a lot of benefits to have a loyalty rewards programme, whatever area of business you’re involved in. Taking a leaf out of the marketing books of the new online casinos you might be seeking to join through some kind of loyalty rewards structure, here are some points to consider before you start considering the idea in your own business operations:

What is a loyalty rewards programme? Loyalty rewards programmes are based on the idea that people who use your service and spend money with you tend to become loyal to you. If this is the case, it stands to reason that it is a good idea to make an investment in your loyal customers.

Let’s say that you own a grocery store. If you put the loyalty rewards points earned by your loyal customers towards a financial institution such as a mortgage provider or a broker, that is a great way to build your bottom line. You are guaranteed to make a better margin on the sale if the customer is coming to you for their mortgage. The payments received are to the bank that your customer is paying, so you make money on both sides.

In addition, the customer does not even need to be fully convinced about the financial products they are looking to buy, as they can still receive rewards through a loyalty rewards programme and remain completely loyal to you.

Once people know what the reward is for buying your product, the customers are likely to go back to you for their loyalty points again and again. Even when the rewards are redeemed, customers will most likely come back to the company, so you continue to make more money off them.

Does the offer cost me anything? As mentioned above, these loyalty rewards programmes are the type of offers that your customers most likely see, so you are guaranteed to earn loyalty with little to no cost to you.

Are you offering discounts for the use of your products?

Make sure that you are offering the most competitive deals, with the offer or discount only available to those who use your loyalty rewards. It is recommended that you advertise that offer as early as possible in the year in order to drive sales to the company in the year, rather than to the supplier in the second quarter of the year.

How can I join your loyalty rewards programme?

Even if you already have a loyal customer base, it is highly recommended that you send an email to any past customers and solicit their interest in your loyalty rewards programme. If you already have a customer base, an email marketing campaign is also recommended.

Rather than just sending out an email, contact your customers directly through your social media pages and website to get in contact with them, as they are most likely to be excited about the potential to earn more. If they are not too excited by the offer, it is wise to give them the chance to save time by choosing to opt out.

6 Things to Do Before Starting a Business in 2021

A lot of people are tired of their 9 to 5 job, and everyone dreams of starting their own business.

However, it is not as easy to run a business as many people think. It often feels like there are a gazillion things to work on at the same time.

One study states that only 4% of new businesses succeed in reaching the 10-year mark. In fact, more than 50% of small companies don’t even make it to the fifth year.

But it’s not all gloom and doom in commerce. With a little planning, it is possible to start a business and get it off the ground.

In this article, you will find a list of things to do before starting a business.

1. Do your research

There are a thousand business ideas that experts promote every day on the internet. But not all of them are good. Some won’t work in your geographical area, and some require a lot of other stuff you didn’t even think of.

You want to make sure you understand the sector you will be involved in if you plan to dominate it. Even if you think your business idea is unique, you need to be aware of your competitors, reach your target audience, increase sales, etc.

That’s where it’s essential to research to see the edges of your business idea.

Remember that just because you have a great idea doesn’t mean that someone else didn’t have the same idea. If you find it difficult to come up with something better or cheaper than your competitors, then maybe you should rethink your concept.

Research the market thoroughly before you start your business. Understand the sector you want to enter, as well as the nitty-gritty details about your future competitors.

2. Determine your target market

Spend time thinking about the people you are targeting. This audience will be the driving force behind every decision you make.

You need to identify who needs your product or service to refine your offerings and ensure that your marketing and sales strategies reach the right people.

Part of that decision is understanding whether you are a business-to-consumer (B2C) or business-to-business (B2B) company.

Other parameters to consider are age, income, gender, and occupation.

When you know what influences the buying decision of your “potential customer,” it is easier for you to give them what they want, not what you want.

Another significant factor when defining your target audience is their geographic location.

Geography allows you to estimate how many people you have access to in your market. More importantly, it helps you to know the rules that govern the business environment in the target area.

So know who you’re targeting. A defined target market will facilitate not only customer acquisition but also customer retention. Acquiring customers is very important for a business as they start out, they want to appeal to their target audience and bring them into the fold, yielding positive outcomes so they stay. Using companies like SheerID can help a company achieved this and get what they need as they begin.

3. Pick a legal structure

When you want to start a business, your company’s legal structure choice should be one of the most critical things on your to-do list.

The business’s legal structure will dictate taxes, the owner’s liability and other legal aspects, paperwork, and whether the company can have employees.

Besides, you must obtain both local and national registration documents required to establish your business.

Therefore, you must create your company’s legal statutes, obtain an employer identification number, and apply for the necessary licenses, which will be different depending on the country and the activity sector.

4. Write a business plan

A business plan outlines the steps you’ll take for a successful launch and continued growth.

You’ll hear many people debating whether a business plan is as essential as experts claim. Just keep in mind that a business plan still gives you a sense of direction in your business, even when it is not implemented.

This document is vital for setting your business’s direction, seeking and retaining capital, and attracting C-level professionals to work with you.

A business plan is not complicated to write. Just make sure you focus on the key elements, including:

  • A mission statement
  • A description of your company
  • A catalog of your services and products
  • A financial plan
  • A list of your competitors and your strengths and weaknesses

Even if you think you do not need it, develop a professional and concise business plan. It will help you when you are recruiting executives, raising funds, or expanding your business.

5. Look for a business mentor

Setting up and running a business is not at all easy; in fact, it’s a roller coaster.

To avoid making many mistakes, at the risk of closing down, find those who have already made this journey and ask them to guide you. Engage in workshops and events specific to your business sector, get in touch with other professionals you look up to, and seek guidance.

You may also want to consider hiring a coach to provide you with sound advice.

6. Review the technology you need

It is almost impossible to create a business in 2021 and ignore technology.

If you decide to go against the idea of implementing technology, the opportunity to gain an advantage over your competitors, or even make a name for yourself in the business world will be greatly reduced. To ensure that you can cope with anything that is thrown your way, reading something like this Edge-Native Applications post can help you to understand in more detail how you can build real-time applications, as well as how utilizing certain software can help to effectively manage the running of your business. Without such technology, your success could be limited.

Whether it’s office equipment, business service setup, machine installations, or the software needed to support your business, you will need to use technology.

But it’s important to use the right tools, so your business makes the most of it. One of the most important tools you may need to start your business could be a broadband connection. This is extremely important as more and more jobs are becoming remote. As a result, it’d be good if you could hire an internet service provider such as Starry Internet or other similar ones to set up a wifi connection.

Here are some steps you can take to choose the right technology for your business:

  • Assess your business needs.
  • Make sure the technology you choose contributes to the smooth running of operations.
  • Ensure you have the support you need to install, update, and troubleshoot the technology you choose.
  • Invest in training to make the best use of technology.

Keep in mind that nothing and no one is infallible. Even the latest tech gadget can fail, so always have a backup plan. For example, if your management software is down, you should still be able to work, regardless.

Building a business from the ground up isn’t easy; but it can be a truly rewarding experience if you do your homework.

Now that you know everything you need to consider when starting a new business, make sure you have fun and learn along the journey. After all, if you do not enjoy the process and learn from it, then it may not be worth it.


Naresh Manchanda is a Partner at MBG Corporate Services, an international organization supporting clients across Asia, Europe and the Middle East and providing sustainable solutions and strategies that drive business transformation. Established in 2002 and headquartered in Singapore, MBG is a 450-strong member team that operates out of Europe, the Middle East and Asia, providing Legal, Risk, M&A, Tax, Strategy, Technology and Audit Services.

The Basics of the Stock Market

A stock exchange, share market or equities market is an association of traders and owners of securities, who collectively represent ownership claims to companies; these can also include commercial securities such as mortgages, notes and commercial property. The exchange of commodities or stocks involves the exchange of one commodity for another; it also includes the exchange of shares of a company for the ownership of other shares in the same company.

Stock markets are governed by stock exchanges. A company’s share is listed on the stock exchange and traded among stock holders. There are different stock exchanges in the world. These are stock exchanges operated through government agencies, stock exchanges established by local governments, or stock exchanges set up by individual companies, such as the New York Stock Exchange (NYSE). The U.S. Federal Reserve Board establishes the New York Stock Exchange.

The term stock exchange was derived from a Greek word meaning “the exchange of commodities.” This expression has been adopted by governments, courts and regulatory bodies to describe financial markets that involve trading of securities, usually equities. The term share or stock, in its common use, refers to any number of shares of any particular stock. Stock markets differ widely, as well as the regulations governing their operation. For example, a common stock market is often referred to as a stock exchange.

A variety of firms conduct research on the various stock exchanges. These studies are done by brokers who buy and sell stocks. When buying a stock on the stock exchange, a broker obtains knowledge of the current market price in his or her preferred stock and reports it to the market maker. When the market maker buys the stock, the broker reports this to the market and the two parties, or the seller and the buyer, then enter into a contract known as a stock exchange.

There are three major types of stock exchanges, and they are the over-the-counter (OTC), under-the-counter (OTC), and closed system exchanges (closed system). OTC refers to markets where only brokers buy and sell securities. OTCs are not regulated by the Securities and Exchange Commission (SEC) and can be traded privately between broker-dealers. The closed system provides a complete regulatory environment. for the exchange of securities through a national clearing house.

Stock exchanges have an enormous impact on financial markets and the economy. They play an important role in the allocation of capital and are a main source of finance in many countries. In the United States, they account for about two-thirds of the gross domestic product. They vary greatly in their scope and structure. Stock exchanges may include general market-based marketplaces, regional markets, municipal or regional markets, or countrywide markets.

There are three major types of stock exchanges: the over-the-counter (OTC), the under-the-counter (OTC), and the closed system exchanges. OTC refers to exchanges where only brokers buy and sell securities. The closed system exchanges are those that operate only under a national clearing house and are not open to the public. Regional stock exchanges include state-based markets, where the exchanges are located in various counties or states.

The size and number of stock exchanges are dependent on the type of market. The largest markets, such as the NYSE and NASDAQ, account for about ninety percent of total trading volume. In fact, the two largest exchanges, the New York Stock Exchange and the Chicago Board of Trade, account for almost two-thirds of the total volume. The Chicago Board of Trade has the most trading volume on an annual basis.

Traders can make money from stocks that they buy and sell by buying and selling shares of stock themselves, or by placing trades in an exchange. This can be done when you decide to buy a BHP Group share (BHP Group Aktie kaufen), for example. It’s also important to note that an individual trader can buy and sell securities through a broker, who may be a specialized trader or operates as an independent firm.

Brokerages provide services to help brokers facilitate trading activities, as well as to supply them with information regarding the market. Many firms will manage all aspects of a trading business for their clients, while others may focus on just one particular area of the trading process. Brokerage firms usually do not hold the stocks.

Investors should always conduct thorough research before investing in the stock market. This research should include a thorough review of the company’s record, an assessment of the market, and an understanding of how the market works. Investing in the stock market is a complex and time-consuming process, so it is important that you get the proper guidance before you start trading.

10 tips for finding a great accountant

The Money Guy

Although an accountant might be capable of what they’re actually doing, they might not be the proper fit for your business. In this article, we have mentioned a comprehensive 10-step checklist for choosing an accountant.

Look for recommendations

It’ll be a sensible idea to ask your friends and other familiar persons for recommendations in case they have used the services of an accountant in the past. You can talk to the accountant in person after getting the referral.

Talk to more than one accountant

It is a fact that there are quite a few accountants in your area, you should make it a point to talk to several of them before appointing one for your business This will help you to compare amongst different accountants and choose the best one out there.

Make certain that they fit your business

Make it a point to select an accountant who is experienced regarding the business that you are operating. For example, if you happen to be an IT contractor, it will be of no use to select an accountant who is specialized in pubs. It may also be worth trying to find a local accountant, like the best Accountants Brisbane has to offer, since they will be more familiar with the rules and regulations that will apply to your business.

Can they advise you about recent changes

The world of business and accounting is always changing. Is your accountant up to speed and can they advise you about the latest changes in tax rules for example. If you in the UK can they advise you about setting up companies in Ireland after Brexit ?

Make sure that he is qualified

Ensure that the accountant does have an accounting qualification and happens to be a member of an accounting body like the ICAEW. In case he is a tax agent, he will be able to give you advice on tax only. He will also be able to offer financial planning advice in case he has got a Financial Services license .

What services are being offered by them?

Accountants are going to provide different services, and you will be able to select which services you require from them. For instance, although they might be offering a bookkeeping service, you will not require their assistance in case you want to make use of online accounting software. You need to understand what exactly you need from your accountant before appointing him.


In case you are running a small business, it is natural for you to try to save money. Therefore, it will be imperative for you to go to the correct accountant. There are many accountants on the market offering quality services at reasonable rates at present. Also, try to find out whether they have got any hidden charges.


It is natural for you to interact with the accountant whom you’re appointing from time to time. Therefore, it will be imperative that your personalities should not clash. Always go for an accountant who is friendly as well as amicable.

Obtain proof

While appointing the accountant, always ask for a copy of the Public Indemnity Insurance of that person along with his operating license. Any professional accountant will furnish you with all these documents, which will provide you with total peace of mind.

Will he be able to prosper your business?

The accountant is going to become involved with your company’s operation from the very beginning, and therefore you should not take this decision lightly. Try to find somebody whom you can trust and who has got the required experience behind him. Good accountants will help your company prosper by dealing with your complicated accountancy work and will also provide you with business advice.

Finding business money transfers service

Your business is almost certainly part of a global economy.


You may be based in the UK and offer what seems to be a very local service, yet supply chains are still likely to stretch abroad – just think of some of the supplies and equipment you might want to buy in foreign markets.


In this increasingly interconnected world, your business relies on being able to import or export certain goods and services from overseas.


The cost of business money transfers


So that such necessary international trading is cost-effective, you need to consider how much you are paying on each international money transfer – and find the most effective and cost-saving business money transfers service.


When you compare the market, you will find that those costs may vary widely.


The Money Saving Expert (MSE) explains that the cost of international money transfers comprises two fundamental elements:




  • banks charge a host of fees and commissions for sending or receiving money to and from abroad;


  • although most high street banks give you the option of paying those fees in sterling or the foreign currency, they mount up very quickly – and MSE warns that they may be made up of several seemingly small amounts, which disguise the actual total cost;


  • you may need to pay a higher fee, for example, if the money transfer needs to be made more quickly;


Exchange rates


  • in addition to the fees charged by your bank, your transactions are also subject to fluctuating exchange rates;


  • those rates can be difficult to establish since banks do not necessarily inform you of the rate they are using when the transfer is made – and rates can vary widely during the course of a single day’s trading.


Saving money on your business money transfers


In the first place, remember that business money transfers through your high street bank are going to cost more – often significantly more – than those made through dedicated money transfer companies.


The fees charged by money transfer companies are likely to be lower and you may achieve a more favourable rate of exchange, too.


The newer “fintech” companies specialising in business money transfers are also likely to make those transfers more speedily than your high street bank. Many can make the transfer the same day, whereas your high street bank may need several days to complete the transfer – unless you pay a premium for a faster transfer.


In addition to the cost and speed of any transfer, you must also ensure that the bank or money transfer company deals in the currency relevant to your transaction – not all currencies are likely to be supported and those available differ from one company to another.


If you are trading abroad regularly, you may find that you are making repeated payments in different currencies – so, once again, you must ensure that your chosen money transfer service provider also deals in all those currencies.


Receiving money or making payments in foreign currencies adds a further level of sophistication to your business activities. You do not want it to be a complication, of course, so find a business money transfer service provider that integrates with the accounting and management systems you are using to simplify the reconciliation of transactions.

Why Working Capital Flexible Finance Is Perfect for Entrepreneurs

Establishing or enhancing a company requires time, effort and the necessary funding to do so without breaking the bank. Unfortunately, when it comes to the latter, not every budding entrepreneur has access to the type of financing needed to pursue their business ventures. It’s for this reason that the variety of business loan options out there provide a vital resource to people who are looking to establish, grow or maintain a company then use this guide.

Continue reading