September 2022

In Business

How to Save Money on an Office for Your Small Business

September 24, 2022 No Comments

Money is often tight when you start a business for the first time and getting an office space can be one of the biggest monthly expenses for your new company. No matter what kind of business you are running, having the right office space can be super important for business growth. Many entrepreneurs feel more productive when working out of the office, and you may need somewhere where you can invite clients or hire employees to come and work for you. But how can you do all this on a tight budget? The good news is that there are several money saving strategies to consider.

Work from Home

If you can, it might be worth considering working from home for as long as possible. This will help you save a significant amount, especially when you’re in the early stages of running your business and probably don’t need a professional office space just yet. You can always look for an office to move into once your company has started taking off, or when you need to hire your first employee, although thanks to the rise in remote working, an office might not be necessary until you have a bigger team working for you.

Managed Office Spaces

Managed office space services are an ideal choice for small businesses that don’t need a big, expensive office to commit to. Offering shorter leases and small offices that can grow with your business, they are an ideal solution whether you’re currently running your business on your own or have built a small team to work with you.

Consider a Virtual Office

Another option to consider if you need a professional office address, but don’t actually need the office space just yet is a virtual office. This is a great way to add more professionalism to your business while keeping your home address private. Sure, you might be running your business from your spare bedroom, but nobody actually needs to know that. A virtual office is an address where you can register your business and receive letters and other mail, but you don’t actually go there to work. Any mail you get will be forwarded to your actual address.

Try a Co-Working Space

If you are a solo entrepreneur or running your business with the help of freelancers and remote workers who aren’t going to come into an office, then a co-working space might be a good alternative. If you miss the social aspect of going into the office to work and feel cooped up and stuck at home alone working on your business, then look out for co-working spaces near you where you can work a few times per week, or every day if you like. Entrepreneurs, freelancers and remote workers all use co-working spaces, so it’s a great way to meet a variety of people and build your professional network too.

If you’re just starting out with your own business, then your own office space might be an expensive consideration. However, with these cheaper alternatives, you can create the ideal, budget-friendly office environment.

In Featured

4 Budgeting Tips for Moving Out On Your Own in London

September 23, 2022 No Comments

Moving out on your own is an exciting time. A space to yourself and a fresh start are all adventurous prospects, but before you take the step into this new style of independence, you have to know how to handle your finances. Aside from the initial costs, there are rolling ones to manage as well, and it is always better to be prepared above all else than to fall down when a bill comes through the letterbox. This guide gives you four top budgeting tips for when you are trying to secure your own rental place.

Understand Your Incomings

It is safe to assume that when the time comes for finding a place for yourself, you have a job or a career to support the venture. But having a job alone is not enough, it is time to sit down with your wage slips and really get to know how much money you have coming into your account on a monthly basis. Most rent payments occur once a month, so even if you get paid in some other format, e.g. once a week or twice weekly, you are still going to have to save or account for that big payment at some point in the month. Your income will also have to cover the rest of the outgoings too.

Get to Know Potential Outgoings

Rent is not the only factor here, and as daunting as it may seem there are some staple bills to get to grips with.

Council tax. This figure is dictated by which area you live in and what band the property falls under. You can find this out easily by looking online at your local authority.
Wi-fi and Entertainment. There are various wi-fi and broadband packages out there to choose from, and it varies from area to area what is available. Expect to pay upwards of £30 for this per month.
Amenities. Water, gas, and electricity are all standing charges that anyone who lives anywhere can expect to pay. Again, the rates vary so it’s worth checking out before you move to get a better framework of what you could be paying.
Food Bills. Regardless of whether you shop weekly or daily, there are lots of budgeting tips about food shopping that are worth checking out.

Scope out Affordable Options

Once you have the first two parts sorted, it is time to try and find affordable options within your means. Start with a credible site like roomclub.com, filter by your preferred area, and see which results make you want to arrange a viewing. You can also check local papers, noticeboards, and social media to see potential accommodations shared and otherwise.

Stay Within Your Means

When you get the keys, the last thing to remember is that staying within your means is the only way to avoid debt and missed payments. You don’t want all the heartache that comes along with this, so stick to that budget.

Final Thoughts

Moving out is exciting, but there is a lot to think about before you get through the door of your new place.

In Finance

3 Common Errors in Financial Localisation

September 23, 2022 No Comments

You already know just how rigorous marketing competition can be among companies and organisations. Every business wants to adopt the most client-attractive strategy in all functions, including finance.

Since clients look for financial documents to validate a company’s authenticity, you must carefully translate all these papers and make them localised for the country you intend to use them in.

Translation Agencies to the rescue

During the process of localisation, most companies overlook some very common mistakes. Although these mistakes look minor, their impact can be quite extensive in the long run.

Fortunately, working with translators and professional UK agencies which specialise in translation and localisation services as well as language interpreting can solve most of these mistakes. This article discusses three common errors in localisation and their avoidance strategy.

Common Mistakes in Localisation Services

Translating the content on your website is essential, mainly if you deal with international clients. You don’t know which part of the world people would visit your website.

A media service shared its report stating that completely localising websites can boost conversion by 70%, which includes displaying products and currencies in the local language of your audience. However, you must stay vigilant of the three mistakes during financial localisation.

Mistake# 1: Ambiguity

Translating web content for business and corporate use is a tedious job. But since it attracts more clients to your website, you should look for a financial translation service and get it done. However, localising finances sometimes creates ambiguity in the content.

Even in English, you might have noticed how the slightest mistake changes the meaning of the whole sentence.

For example, HSBC Bank’s slogan “Assume Nothing” was mistranslated to “Do Nothing” in several other languages in 2019. As a result, that year, HSBC spent $10 million to rebrand itself as “The world’s local bank.”

The ambiguity in a simple message often occurs during translation.

For instance, take a financial document that you plan to localise. You hire a translation service provider, and the team begins its process. Although financial experts know every jargon in the financial section, not everyone can understand its meaning without proper explanation.

Once the translation ends, you might think every financial document has been localised. That might be true. But it’s not over yet.

For example, financial statements are full of numbers. Only the left side needs words to describe the transaction concisely. While translating those statements, a single word can create ambiguity even though it looks perfectly translated.

How to Avoid Ambiguity in Financial Localisation?

Financial localisation needs more time than just translating the documents. A team must proofread and compare the translated version to the original document. In addition, a person having little knowledge of the financial sector should go through the document and derive conclusions.

This additional yet mandatory step will ensure the quality of the localised financial document, which is now available to the global population.

Mistake# 2: Punctuation Mistakes

Undoubtedly, punctuation marks hold a significant value in the literary perspective. But that’s not the only context where these marks play a crucial role. If you overlook a single comma or decimal point while counting money, you might lose $100,000 instead of $100.

Punctuation marks separate not only words but currency too. For example,

English-speaking countries. People separate thousands using a comma and decimal, ending with a period.
European Union. Most European countries, like Germany, use a comma to separate the number’s integral part. For example, one hundred euros and ten cents are 100,10 in the European Union.
Switzerland and Liechtenstein. They use apostrophes (‘) to separate thousands in their currencies, the Swiss franc or CHF.

Investors with years of experience in finance-related fields observe these things on your website. They judge your company’s credibility based on how you have displayed the financial information on your website.

How to Avoid Punctuation Mistakes in Financial Localisation?

Keeping an eye on every punctuation mark during financial localisation is necessary. You must hire an expert financial translation service with good industry experience.

These experts know every intricate detail when translating the finances of a company. Moreover, your company’s financial copy must be translated without any mistakes. So while hiring a professional translator, look for their experience.

Their experience should include working in a banking sector or other similar industry experience.

Mistake# 3: UX Without Detail

User experience or UX is the first thing visitors see on your website. So, while translating web pages, it’s essential to consider every detail of UX.

For example, the font, font size, and font colour must remain constant after the website is localised. Sometimes, the translated text doesn’t follow the website’s standard font settings. This repels users who see the translated web pages of your website.

Another common mistake is the difference in text direction. For example, English is from left to right while Arabic is from right to left.

When you localise the finance section, the whole text changes with the language’s direction, this affects the website’s navigation because the scrolling effects will not work the same way.

The original language, which read from left to right, is now from right to left, reversing the scrolling sequence.

This mistake can create more significant troubles for users, like not accessing the correct information or not finding a button. As a result, a client might never return to your website.

How to Avoid UX Mistakes in Financial Localisation?

A web developer must be a part of the financial translation service team to integrate such technicality using plugins. Since a translator can’t fix this issue, a domain expert must work on this.

For more significant projects like an e-commerce website where thousands of web pages translate the text on runtime, your visitor must get the translated text without any:

Delay
Ambiguity
UX Error

A UI/UX member checks the quality of the financial localisation. They know the tiniest detail of a web page and how to enhance the aesthetics of your overall website. So, it’s suggested that after you receive a translation of this nature, you have one or two UI/UX experts to keep your website’s design intact.

Conclusion

While translating your website for international clients, choose the right translation service provider. Always check the portfolio and talk to the account managers before proceeding with their services.

During the website localisation process, ensure that the translators avoid the three common mistakes mentioned above. Many service providers overlook these small errors, and you face the consequences.

Make a checklist of financial localisation errors and keep an eye during and after your translation is done.

In Mortgage

3 Ways to Handle Mortgage Payment Difficulties

September 23, 2022 No Comments

Mortgage payment difficulties can happen to anyone. Perhaps you’ve lost your job or experienced an unexpected medical expense. No matter what the reason, if you can’t pay your mortgage, you need to take action immediately. In this post, we will discuss your options for dealing with mortgage payment difficulties so that you can keep your home.

1. Talk to Your Lender

If you’re having difficulty making your mortgage payments, the first thing you should do is reach out to your mortgage lender as soon as possible. You may be able to work out a temporary payment plan or other arrangements that will help you get back on track. It’s important to keep in mind that your lender doesn’t want you to default on your loan, so they may be willing to work with you. Plus, the sooner you reach out to them, the more options you’ll have.

2. Consider a Refinance

If you’re struggling to make your mortgage payments, you may want to consider refinancing your loan. This could help you get a lower interest rate, which could make your payments more manageable. You may also be able to extend the term of your loan, which would lower your monthly payments. However, it’s important to keep in mind that refinancing comes with its own set of costs and risks, so you’ll need to carefully consider whether it’s the right option for you.

3. Check if You Qualify for a Mortgage Assistance Program

If you’re having trouble making your mortgage payments, there may be programs available that can help you. For example, the government offers the Making Home Affordable program, which can provide assistance with mortgage payments for those who qualify. There are also programs offered by many state and local governments, as well as by some lenders. So, if you’re struggling to make your payments, be sure to check and see if you qualify for any assistance programs.

Wrapping Up

Dealing with mortgage payment difficulties can be difficult and stressful. But by taking action and exploring all of your options, you can find a solution that works for you and keep your home. So, if you’re struggling to make your mortgage payments, don’t wait – reach out to your lender and explore your options.

In Business

What You Should Know About Trading Futures & Options

September 22, 2022 No Comments

Futures and options contracts are two essential instruments in derivatives trading. For the uninitiated, derivatives are contracts whose value is decided by underlying assets or groups of assets. Bonds, stocks, market indexes, commodities, and currencies are all samples of assets.

What exactly are futures and options?

Futures are derivative contracts during which the buyer and seller are obligated to fulfill the contract at the specified price and date. Futures are a superb tool for risk management and hedging. If someone is exposed to or profits from speculation, it’s primarily due to their desire to hedge risks.

Trading options and futures contracts hold plenty of promise for an aspiring F&O trader. However, futures and options are far more complicated than equity investing, and you need to understand the nuances more thoroughly. In addition, they don’t require a Demat account because they are only valid until their expiration date. As a result, they’re more like contracts than assets.

Before venturing into the uncharted waters of F&O trading, one must fully comprehend the implications of such a trade. Unlike within the cash market, where your risk is restricted to the amount of money you deploy, the loss in F&O is often much more significant than what you have put in, as market volatility. Therefore the value of larger contract sizes can erode massive capital even in a single bad trade. Remember that you have no control over what happens in the future. One tool that traders and investors should have maybe a nifty trader that provides resources like NSE F&O Lot Size and is also used to increase knowledge of the use of technical analysis to interpret stock market movement.

Practicing discipline and keeping your emotions restrained are essential factors in F&O trading. If a trade begins to maneuver in the opposite direction, one shouldn’t panic because one wrong move can result in significant losses. Furthermore, avoid trading excessively and only take exposure once you have a solid strategy and a high level of conviction. Finally, keeping a close eye on the nifty live charts is essential to prepare for market volatility.

The most significant advantage of F&O trading is that it allows you to trade without actually investing in the asset. Another advantage of F&O trading is that transaction costs are relatively low. To begin trading in F&O, open a web trading account. Unless you’re a day trader using margin trading, you want to pay the total value of the shares purchased when you buy in the cash segment. You want to pay this amount in advance to the exchange or clearing house. This upfront payment is understood as “margin money.” It helps scale back the risk the business takes on and helps maintain the market’s integrity.

You can purchase an F&O contract once you have met these requirements. First, place an order with your broker, indicating the contract details like expiry month, contract size, etc., then fork over the margin money to the broker, who will then contact the exchange. If you are a seller, the stock market will find you a buyer or the other way around.