Author: Complete Controller

Embarking on the journey of launching your own business is no small feat. Yet, despite the multitude of sacrifices and challenges entrepreneurs encounter, 84 percent of them express willingness to undertake the journey again. If you ponder the prospect of diving into entrepreneurship, taking some essential steps beforehand is crucial. Below, I share some top tips drawn from my experience mentoring over 1000 SCORE clients and serving as an angel investor. These insights stem from observing the practices of successful entrepreneurs and identifying common pitfalls among those who fall short.

Consider self-financing your business whenever possible, reserving funding efforts for when you can craft a compelling growth narrative. Breaking down your product or service offering into manageable components can help in the initial stages, allowing you to gain traction and valuable experience. As you navigate the complexities of business ownership, be mindful of when to enlist the expertise of professionals such as accountants, lawyers, insurance agents, marketing specialists, web designers, or consultants. This proactive approach will set the foundation for effective management as an entrepreneur.

Before taking the plunge into entrepreneurship, it’s crucial to ask yourself a fundamental question: “Why am I starting this business?” Many individuals embarking on this journey envision working from home, enjoying a flexible schedule, and having more time for themselves. However, it’s vital to dispel this misconception early on. Starting a business entails a significant commitment, often requiring more hours, less flexibility, and many responsibilities. Rather than enjoying leisurely freedoms, you’ll navigate endless liabilities and wear multiple hats simultaneously. Understanding and accepting these realities upfront is essential for making informed decisions about your entrepreneurial path.

Biggest Obstacle

You will face two of the biggest obstacles when starting your venture: reputation and money. Being a business owner has exponential returns, so the initial investment also needs to justify the returns. As far as reputation is concerned, this is an obstacle you will face when you enter the market competing against many already-established others.

What do You Need?

Business Plan

It is an essential part of any new start-up. Having a well-documented business plan that defines every aspect of your business without ambiguity would be best. Critical components of a business plan include marketing analysis, competitor analysis, product details that you will offer to the customer, industry analysis, and funding details to influence the investors.

Viable Product

If you want to make money and make significant profits from your new venture, you need to give something to the customers, a product or services that address their needs and improve their lives. The better your product will be, the more chances you will have to give your rivals competition. Your approach needs to be more consumer-centric, and that can only be possible when you spend time on research to understand their needs.

Means of Financing

It doesn’t matter how revolutionary your idea might be; your business will not get moving if you don’t have the money to back up your ideas. Before you dive into the world of entrepreneurship, ask yourself how much money you need. How much salary do you need to give to your employees? Will you invest entirely online, or do you need to open a physical store? These are just some basic questions that need detailed answers.

Most people often take a loan from a bank. However, we recommend a self-financing option to reduce the pressures of returning the money. The last thing you want for yourself is pressure from creditors.

Bottom Line!

Launching a business is undeniably challenging, and it’s natural to harbor concerns if you haven’t thoroughly considered every aspect. While everyone aspires to success in their ventures, achieving it demands patience and unwavering dedication. Without a sincere willingness to invest time and commit to your business, its longevity may be jeopardized. It’s crucial to understand that success doesn’t materialize overnight; it evolves through consistent, focused efforts toward the right goals.

Moreover, don’t let the fear of failure deter you. Setbacks are inevitable, but they often serve as invaluable learning opportunities. Embracing these lessons can ultimately propel you forward and strengthen your resilience in the face of adversity. By approaching entrepreneurship with perseverance and a willingness to learn from both triumphs and setbacks, you’ll be better equipped to navigate the journey toward your business goals.

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.

Are you having difficulty increasing your Facebook ad’s CTR (Click-through rate)? Uncertain about how to enhance it? Getting people to click on your Facebook advertisement may be very difficult. However, if you put the right ideas and techniques to the test, the results will begin to flow.

The click-through rate is a statistic used to assess the relevancy of your advertisements. Optimizing your creatives and targeting may help you improve click-through rates, lowering your cost per action.

We did not utilize impressions while dealing with email but rather the number of messages sent. The remainder of the CTR computation will stay unchanged.

For instance, if your advertising campaigns generate 1000 impressions and 23 click-throughs, your formula will be as follows:

CTR = 23 / 1,000 x by 100 is 2.3%

The more individuals click on the links in the email, the more effective it is.

When I mention 2% account CTR, there is a chance that individual campaigns will have a higher or lower CTR. For instance, the CTR for your branded and retail ads may surpass 2%, while others may fall below this mark. A high CTR does not necessarily indicate a successful campaign. This may indicate that your account decreases the probability of individuals spending money via advertising, meaning that your client is less interested in goods or services.

According to the study, the average CTR for Facebook Ads is less than 1%, indicating significant growth potential.

CTR stands for click-through rate and is a ratio of the number of clicks on your ad to the number of impressions. This statistic is computed as the number of links clicks divided by the number of images. Thus, if you get ten clicks on a video that receives one hundred impressions, your CTR is 10%.

Facebook’s average click-through rate is at 3%. It soared to 3.41 percent in June 2023 but predictably fell to 3 percent in the following months. This is unsurprising, given that everything went online in May and June 2023, and social media became the primary source of information. As a result, it’s only logical that the click-through rate was also affected.

Utilize Intriguing Visuals

Your Facebook ad should grab readers’ attention with the proper mix of text and graphics. Visuals create a good user experience, reflect your brand’s personality (e.g., friendly, inventive, fashionable, etc. ), and encourage visitors to click.

Some pointers for designing Facebook ad graphics include the following:

Avoid overcrowding pictures with text. Although Facebook eliminated word restrictions on advertisements, you do not want to overload your ad picture with text. According to Facebook, advertisements with less than 20% of the image covered by text perform better. Therefore, keep your text brief and concise.

Utilize the proper size ratios. Each Facebook ad type has its own set of technical specs and needs. Without adhering to these guidelines, your pictures may look fuzzy or low-quality. Always double-check picture requirements (and if in doubt, use our Facebook ad sizes guide sheet!).

GIFs and videos for testing purposes. Experiment with graphics like GIFs or video advertisements to see how people react. If a specific kind of ad performs better, invest more to boost your Facebook ad’s click-through rate.

Limit Your Audience

We’ve seen many Facebook advertising campaigns targeting millions of people, but this results in poor ad relevance and low click-through rates in most cases. If your audience is too broad, your message will often be very general in trying to appeal to everyone; at that point, it will be diluted and unlikely to have a strong appeal. Additionally, as your ads get more targeted, consumers are more likely to click on them, engage with them through comments, share them with friends and family, or click through to a sale. As a result, segmenting your audience is essential for improving your Facebook ad’s click-through rate.

Posting Schedule And Frequency

Thursday and Friday’s posts get an average of 3.5 percent more attention, while Monday to Wednesday posts receive 3.5 percent less. Timing is also critical. Some people suggest publishing between 9:00 and 19:00, but I believe this is an extensive timeframe. Posting begins at 1:00 p.m. and will likely get the most shares, while posts around 3 p.m. produce the most clicks.

Ascertain That Your Multimedia Content Is Visible

As stated before, the multimedia material you employ in your advertisements should be eye-catching. One method to do this is to avoid utilizing generic stock images. Choose more natural-looking picture advertisements. Otherwise, your Facebook Ad will be ignored by your target demographic. After all, people generally resist blatant ads that appear in their newsfeeds.

As an example, suppose you offer shoes with personalized artwork and design. Alternatively, you may utilize a picture of someone wearing one of your goods. Better still, have that person stroll through the streets to give your multimedia ad material a more natural appearance and feel.

Do you need more funds to employ a model for your business? Consider enlisting the assistance of your friends to model for you in return for a nominal fee.

Present An Attractive Offer

Knowing your target demographic and creating an appealing Facebook Ad is insufficient. Additionally, you must have an enticing offer. Your prospective consumers will want to know what they may get by clicking on your advertisement.

Your offer is what will entice them to click. And this will vary according to your advertising objective.

Therefore, if you want to attract new clients to your coffee shop, you may want to offer a discount to first-time visitors. Pair this with a pertinent call to action, such as “Get a Discount. “

This is likely to increase your Facebook ad’s click-through rate (CTR) since it plainly states what your audience may get by clicking your advertisements, not to mention that you made an enticing offer.

Conclusion

CTR for Facebook Ads is one of the most discussed performance metrics. The greater the CTR, the more effectively your advertisement performs (at least in capturing your audience’s attention and directing them to your offer and landing page.).

The guidelines and methodology outlined above were created to assist you in increasing engagement and click-through rates on your Facebook Ads. They will act as a springboard and guidance for you as you work to improve the success of your advertisements.

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.

In April 2021, a Nevada court found David Gilbert Saffron guilty of committing ‘cryptocurrency fraud and misappropriation.’ As part of the judgment, Saffron will have to pay back $32 million to all those he defrauded. Defraud may be one of the most severe cases of cryptocurrency fraud we’ve seen lately, but it’s far from the first and won’t be the last. 

As cryptocurrency trading rises in popularity across the digital world, so do scams and other cybercrime involving crypto. When cryptocurrency first rose to prominence on the internet, the Commodity Futures Trading Commission (CFTC) quickly warned against the various scams involved. 

Types of Cryptocurrency Scams

Several such scams are just modern takes on classic illegal schemes. For example, the CFTC warned traders about pump-and-dump schemes, where scammers would bulk buy a particular cryptocurrency while its value is low, then release false news about a rich celebrity or organization investing in it, thus increasing the price. They would sell back their stock when the price was high, netting a substantial profit. The currency would fall in value once people realized they had been scammed. 

Other scammers have posed as cryptocurrency trading outlets, inciting less informed traders to hand over their money, hoping to see profitable returns, but they never do. 

Giveaway scams have become very popular on social media platforms, namely Telegram, Facebook, Instagram, and Twitter. Scammers will post fake videos and images from well-known corporations and celebrities, encouraging people to invest in cryptocurrency. These posts will feature hyperlinks leading to websites that look like authentic crypto-trading platforms but are designed to steal your cryptocurrency, bank information, and other personal data. 

Scammers may use data breaches on official platforms to obtain personal data and information about you. They’ll then use this data to extort money, or more recently cryptocurrency, out of victims.

Some scammers conduct employment scams. They post fake job postings online to gather personal data from applicants, which they then use to steal their cryptocurrency.  

Not all illegal activity surrounding cryptocurrency trading is as complex, however. Some more insidious hackers will hack into people’s virtual wallets and steal the cryptocurrency people have accumulated. 

According to The North American Securities Administrators Association (NASAA), cryptocurrency fraud is one of the significant threats to investors right now. 

Advice From the U.S Government

Stay informed

Scammers have been using the Covid-19 pandemic to take advantage of people. The government advises citizens to remain informed about cryptocurrency and the pandemic in general, as scammers can spread false information to commit fraud. 

If something is too good to be true, it probably is

This one might sound too pessimistic, but a bit of skepticism can go a long way in such uncertain times. Be wary of any service asking for personal information, and know who you’re sending money, gift cards, or cryptocurrency to before sending it. 

Don’t act immediately

Take all the time you need to assess your options and fully understand what kind of service you’re offering. A legitimate service would gladly assist and inform you if a service agent seems to be forcing your hand toward giving them your money and personal data. 

Advice from a Reputable Crypto-trading Platform

Since its launch in 2012, Coinbase has established itself as a leading name in the cryptocurrency industry, gaining the trust of both experienced and beginner traders.

 

To ensure a safe trading experience, Coinbase encourages users to be vigilant and protect their sensitive information. It’s important not to share any personal details with individuals claiming to be support staff or employees of a crypto platform, and never grant anyone remote access to your device.

 

Additionally, Coinbase emphasizes the importance of being cautious when approached by anyone asking you to send small amounts of cryptocurrency with the promise of receiving more in return. These types of offers are often scams, and it’s best to avoid them.

 

The platform also recommends maintaining a healthy skepticism toward investment offers that claim unreasonably high returns. If something sounds too good to be true, proceed with caution.

 

For those looking to invest in cryptocurrency, Coinbase advises thoroughly researching any platform before making a purchase. Engaging with company staff is beneficial, but seeking insights from experienced traders can provide valuable perspectives and enhance decision-making.

An Educated Buyer is a Happy Buyer

With the boom the crypto market is seeing right now, it’s no surprise how many people want to invest, but there will always be those looking to take advantage of buyers. Cryptocurrency can be an incredibly lucrative investment, but you must have an in-depth understanding of what you’re getting into. Don’t be frivolous with your money. Be patient, be informed, and hopefully, you’ll see positive returns in no time if all goes right.

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.

Welcome to Exchange Traded Funds (ETFs), where investment opportunities meet the convenience of trading shares. ETFs, or Exchange Traded Funds, represent a dynamic intersection between traditional investment funds and the flexibility of stocks. In this guide, we’ll explore ETFs’ fundamentals, advantages, disadvantages, and key considerations for investors. Whether you’re a seasoned investor or new to the game, understanding ETFs can unlock a world of potential in the stock market. Let’s dive in and discover the power of ETFs in shaping your investment strategy.

What are ETFs

ETF stands for Exchange Traded Fund. ETFs are publicly traded investment funds that behave like shares. They can be bought and sold anytime during the stock market session.

Like the shares, their price varies throughout the trading session. In that sense, they are a mix between stocks and investment funds. The objective of the ETFs is to replicate some equity index of equities, fixed income index, raw materials, or any other.

Therefore, a single purchase copies a whole index, obtaining excellent diversification for very little money and straightforwardly. As I told you, ETFs are products very similar to mutual funds. The main differences between these and the funds are taxation and existing rates, something I will tell you later.

Advantages of ETFs

Diversification

As I have already mentioned, when you buy shares in an ETF, you “buy” an entire stock index. So, if you choose one replicating the IBEX 35, you automatically purchase shares of 35 companies at a stroke, obtaining spectacular diversification.

On the other hand, ETFs also allow you to invest effortlessly in unknown or emerging countries to diversify geographically. With a well-built portfolio, your diversification will be maximum.

Low Commissions

Despite being very similar to investment funds, ETFs charge low management fees. You can even find ETFs that charge a ridiculous 0.10% annually on your money. Costs are essential when determining profitability, so this aspect is a clear advantage of the quoted funds.

High Liquidity

Like the shares, the ETF has excellent liquidity, especially if referencing an essential primary market.

They are Effortless to Acquire

There are many different ETFs; most can be purchased from your bank for a lifetime. It is as easy to buy ETFs as stocks or investment funds. Of course, before buying, you must always be sure of the broker’s commission since banks like Santander or Caixa charge much more than banks like ING.

There is No Minimum Investment Amount

Some funds require a minimum of money to invest, not like ETFs.

Of course, buying an ETF implies a commission, so if you make a purchase that is too low, the commission loss will be excessive.

Investment genius Warren Buffett has recommended that his wife invest all his money in ETFs when he dies because of their simplicity and profitability.

Disadvantages of ETFs

Although ETFs are a perfect option, they cannot be all advantages. I don’t have an ETF in my investment portfolio; I have funds.

Diversification Has a Price

Buying the entire desired index comes at a price, and good and bad companies are accepted.

If you buy shares individually, you can choose exactly where to put your money, while if you buy an ETF, you can only choose the index and eat some companies you do not like, which may involve obtaining less profitability for your money.

They Tax as Actions

Investment funds have a significant tax advantage; you can rotate them without paying taxes. On the other hand, ETFs have the same treatment as shares, so if you sell, you will have to pay capital gains taxes. It has bought-and-sold commissions. It is the main reason I have funds and not ETFs, along with the worst taxation of ETFs regarding funds.

Conclusion

In conclusion, Exchange Traded Funds (ETFs) offer investors a unique blend of accessibility, diversification, and flexibility in navigating the stock market. As we’ve explored the fundamentals, advantages, and disadvantages of ETFs, it’s evident that they present a compelling investment option for both seasoned investors and newcomers alike. With the ability to replicate entire stock indices, achieve diversification effortlessly, and benefit from low commissions and high liquidity, ETFs provide a gateway to a world of investment opportunities.

However, it’s essential to consider the potential drawbacks, such as limited control over individual stock selection and taxation implications, when incorporating ETFs into your investment strategy. Ultimately, understanding the intricacies of ETFs empowers investors to make informed decisions and unlock the full potential of their portfolios in the dynamic landscape of the stock market.

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.

Starting a food processing business is no easy gig; it requires much hard work and management. It is no secret that with the change in the economy, the food processing and agriculture business opportunities are on the verge of revolving. The process of updating the whole food chain has already begun. According to recent research, total food production will likely double in the next 20 years. Keeping that in mind, here are a few decent food-producing business ideas that are worth considering.

Starting a Bakery Business

The bakery business is the most extensive commerce in the food processing region. In recent years, bakery products have been ruling markets and are highly in demand. Starting a bakery is considered one of the most profitable businesses to set up in either a rented or owned space. If a person wants to start a thriving food processing business, opening a bakery is undoubtedly a worthy option.

Making Banana Wafers

Banana wafers are “under-ripe bananas cut into slices dipped in syrup solution. “Later, they are dried in the oven and fried. Wafer bananas are highly in demand and are sold on both export and local markets.

Making of Biscuits

Even though the biscuit-making business is considered small-scale, it is undoubtedly very profitable because most people still enjoy a freshly baked biscuit, way more than factory–made ones. A person can quickly start this food processing business, even with small capital.

Starting a Bread Production

Quality bread is an excellent source for adding extra carbs and fiber to the daily diet. Properly baked bread is a product that will never go out of style. Even though many new brands provide factory-made bread, fresh quality bread will always be in demand in urban and suburban areas. The best part about starting a business is that bread-producing is simple, uncomplex, and can start with small capital.

Cashew Nut Processing

The primary manufacturing processes required for cashew nut processing are cutting, cell cooking, drying, peeling, grading, and packing. For a person looking for a profitable business that requires small machinery and capital, cashew nut processing seems like the perfect choice.

Cheesecake Production Business

Cheesecakes are easy to make and only require a short list of ingredients, such as sugar, cheese, flour, wheat, eggs, vegetable oil, salt, strawberries, artificial color, essence, etc. These cakes are versatile and come in many different flavors. If someone wants to start a small business, creating a cheesecake-making business is worth a shot.

Chocolate Making Business

The manufacturing procedure of chocolate varies according to the type of chocolate a person wants. The taste of chocolate will also vary based on its ingredients and production methods. The chocolate-making industry is one of the most money-making food processing businesses a person can do.

Coconut Powder Milk Production 

The coconut milk powder-making business has excellent market potential across the globe. Another fantastic fact about coconut milk powder is its long shelf life, which can last long. The coconut food processing business is profitable for new starters and entrepreneurs.

Coconut Oil Manufacturing Business

For decades, coconut oil has been used as a healthy cooking agent. In addition to cooking, coconut oil is used to make bathroom and laundry soaps, detergents, hair tonics and products, hair oil, and cosmetic products.

Conclusion

In conclusion, venturing into the food processing industry demands diligence and strategic management. With the evolving economy, food processing and agriculture opportunities are ripe for innovation and growth. As recent research indicates a potential doubling of food production in the next two decades, aspiring entrepreneurs have a wealth of promising business prospects to explore. With careful planning and execution, individuals can tap into these lucrative opportunities and contribute to the dynamic landscape of the food processing industry.

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.

With time, social media has taken its toll on almost everything a person does today. The rise of social media has been so inspirational that it has caused people to switch their businesses to online stores. Nowadays, having an occurrence on social media has become everyone’s necessity instead of a choice. Undoubtedly, social media provides an excellent ground for online businesses and is also a valuable tool for an HR professional. Over time, more HR professionals have begun to use social media to connect and find new talent for different positions and purposes.

HR professionals can utilize social media in multiple ways, some of which are below.

Acquiring New Talent

By correctly utilizing the power of the platforms provided by social media, HR professionals can quickly enter a large pool of applicants. Social media platforms will allow HR professionals to post job vacancies on company pages or even on different public groups. It will also help in spreading the word about the new job position. Social media also allow HR people to view candidate profiles and their random activities before calling them. Social media will let a recruiter know candidates and their views regarding their personal and professional lives.

Employer Branding

With the help of social media, human resource personnel can utilize present and past employees as brand ambassadors. It can also use social media for promotional purposes regarding a brand, such as creating social media groups to share the company’s best accomplishments and undertakings. It can also use these platforms to post promotional images, videos of the company events, company culture, success stories, etc. 

Employee Engagement

Social media has fantastic potential for keeping people engaged; HR professionals can use a social media platform to create in-hour forums that employees can use to communicate, share ideas, and collaborate. It can also use such discussions to express concerns and give logical suggestions regarding the improvement of the organization.

Through such random suggestions and conversations, HR professionals can better understand their employees‘ issues and address them adequately. HR personnel can also take advice from employees regarding company policies and improve them accordingly. Such activities allow employees to participate and discuss company policies, making them feel more responsible for the outcomes.

Productivity Enhancement

Human resource professionals can also utilize social media by asking senior and experienced employees to write company forums about their careers and work. They can use these HR blogs to post company policies, announcements, promotional events, appreciation programs, etc.

Employee Communication

Another handy use of social media, especially for big international firms, is that it will allow employees to communicate better with each other across the globe. Sharing videos and images on social platforms will help employees better display their motto rather than exchanging emails like old times.

Monitoring Employees’ Activities

HR professionals can also use these social media platforms to monitor employee activities. Using Twitter will allow HR people to see the employee messages they are posting, and following them on Facebook and LinkedIn will allow them to monitor their daily activities. However, to properly implement this, a robust social media policy must be a form that is entirely relevant and up to date based on that company’s policies. Also, any debating or controversial conversations need to be avoided at all costs.

Conclusion

In conclusion, social media’s pervasive influence has transformed not only personal interactions but also professional landscapes, particularly in the realm of human resources (HR). As businesses increasingly shift online, social media platforms have become indispensable tools for HR professionals seeking to recruit talent, enhance employer branding, engage employees, facilitate communication, boost productivity, and monitor activities. 

By harnessing the power of platforms, HR professionals can tap into vast pools of potential candidates, effectively showcase company culture, and foster a sense of community among employees. Social media not only streamline recruitment processes but also serve as vehicles for promoting organizational achievements and facilitating open dialogue between employees and management. 

Moreover, monitoring employee activities through social media enables HR professionals to maintain awareness of their workforce’s online presence while ensuring compliance with company policies and regulations. However, it’s essential to implement robust social media policies that balance monitoring with privacy rights and ethical considerations. In essence, social media offers HR professionals a multifaceted toolkit for fostering a dynamic and thriving organizational culture in the digital age.

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.

In several countries, it is widespread practice for the most dependable companies to offer pension plans for their employees. This is a significant benefit that contributes to increasing our heritage, but few take advantage of it correctly.

What are the Pension Plans?

Given the low replacement rates in different countries, pension plans are often offered to complement social security.

The replacement rate is the proportion you will receive from your last salary as a pension. For example, when you say that the replacement rate is 40%, it means that you will receive 40% of what you earned before your retirement when you get your retirement.

For example, the replacement rate will be less than 35% for medium and high wages. This will not be enough for many people to survive, so it becomes essential to complement it with other types of savings, such as companies’ pension plans or personal retirement plans with a fiscal stimulus.

How do Company Plans Work?

Of course, there are many different pension plans. Still, companies generally supplement the employees’ savings up to a certain percentage of their salary.

The employee chooses what percentage of his salary he wants to save, and the company contributes an equal share (up to a limit that is usually between 4 and 5% of the salary, although sometimes it depends on the person’s salary level).

Therefore, by participating in these plans, we automatically get free money contributed by the company, which we would not otherwise see. We can only obtain it if we save.

For example, suppose we save 5% of our salary each month, and the company puts another 5%. In that case, this becomes 10% of our salary, which can grow significantly since, in many cases, the returns generated for such plans are exempt from taxes. Also, the company’s amount is not considered a cumulative income for employees. In other words, it is received free of charge (although at the time of retirement, the company’s contributions plus their income may be subject to taxes).

Difference Between Pension and Private Pensions

The core difference between pensions and private ones is the employer. The federal, government, national, and local representatives get private pensions. Police officers, firefighters, and schoolteachers may have pensions. Even private companies are still offering pensions to their retired employees. Multiple timeless companies have been providing pensions since the last century. Yet, most of them have frozen their pension policies. That is why new employees cannot get this opportunity.

Private pensions are more legitimately protected than public ones. According to the law, private pension funds must have adequate funding. The government pays the Corporation of Pension Benefit Guaranty premiums to ensure their pension funds. For public pensions, you do not need such requirements. This absence of legitimate protection prevents the government from assisting all their retired officers. Ultimately, there will be a drastic change in the sector’s benefits if governments do not act.

Risks of a Pension Plan

You are wrong if you think retirement plans or pension policies work without risks. You cannot say anything about the company’s pension fund investment. You acquire insufficient funds due to bad investment decisions. As a result, the benefits will be reduced without any warning. Usually, there is no command of the company’s control while finalizing the terms and conditions for the pension plan. And it is one of the examples of risks as well. Also, it can decrease the percentage of salary for each employee. It would be the employer’s choice to reduce or enhance the employee’s pension amount than alternatives.

In public pensions, the risk is that the country will have to face different economic issues and announce bankruptcy. Then, it will reduce all the rewards for candidates’ pension plans. So, you can save that money monthly as an alternative to your pension to get protected from all the risks. You wish to have a comfortable retirement without facing a shortage of funds.

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.

Car insurance is not merely a legal obligation; it’s a shield that protects vehicle owners and passengers from the financial fallout of unforeseen accidents. It’s a safety net beyond vehicle repairs, encompassing medical bills, personal liabilities, and peace of mind.

In this guide, we’ll delve into the multifaceted protection provided by comprehensive car insurance, emphasizing its crucial role in safeguarding all passengers, covering repairs regardless of the driver, mitigating repair costs, and offering personal coverage in unforeseen circumstances. Understanding the depth of coverage provided by car insurance is prudent and essential in confidently navigating the uncertainties of the road. 

Here are five essentials for car insurance coverage.

Caring Coverage: Ensuring Protection for Every Passenger

Comprehensive car insurance extends protection to all passengers aboard. In the event of an accident, it offers reassurance by alleviating the burden of hefty medical bills. Regardless of who sustains injuries, the policy covers medical expenses, allowing the injured parties to concentrate on their recovery journey.

Superior car insurance encompasses every aspect of medical care, from surgical procedures to rehabilitation, ensuring thorough support throughout recovery. From doctor consultations to hospital stays and rehabilitation sessions, this coverage provides peace of mind to all occupants, particularly the vehicle owner, knowing that everyone is safeguarded in case of an unfortunate incident.

Protection Beyond the Driver

Most reputable car insurance policies extend coverage to any driver operating the vehicle. This provision proves invaluable, particularly when entrusting your car to a friend or family member who might encounter an accident.

With all drivers insured under your policy, you can confidently lend your car, knowing that any potential mishaps won’t result in financial devastation. Insurance, inherently, is designed to provide peace of mind. However, this reassurance is incredibly comforting when someone else is behind the wheel.

Eases the Burden of Repair Expenses

Repair costs following an accident can skyrocket, depending on the severity and type of vehicle involved. If you’re found at fault, you’re responsible for your vehicle’s repairs and potentially for the other drivers. Thankfully, with car insurance, the worry of shouldering these financial burdens fades away as your insurance company takes care of everything for you.

Furthermore, coverage extends to single-car accidents, such as collisions with trees or encounters with wildlife like deer. In these instances, where only your vehicle is damaged, having insurance coverage ensures that all repair expenses are promptly addressed, regardless of whether the damage involves multiple vehicles, solitary incidents, or acts of nature.

Providing Essential Protection

In an ideal scenario, accidents would be rare, and both drivers involved would seamlessly handle their costs. Regrettably, reality often paints a different picture, where only one driver is covered or found at fault. However, with comprehensive insurance coverage, you’re shielded from these uncertainties.

Whether the other driver lacks sufficient coverage or is entirely uninsured, you’ll find solace knowing that your full coverage insurance covers you in any situation. Regardless of the extent of their coverage, your peace of mind remains intact, safeguarded by your insurance provisions.

Comprehensive Personal Protection

Accidents are unpredictable; despite our best efforts, some events remain beyond our control. That’s why insurance policies are designed to offer coverage for the vehicle owner and all drivers involved. In the unfortunate event of an injury, even one resulting in long-term disability, the insurance company provides a predetermined settlement amount to alleviate any financial strain on the car owner.

Personal coverage extends beyond the individual car owner. It serves as a safety net for personal liability, ensuring that your insurance steps in to cover the costs if you’re deemed responsible for an accident. Additionally, this coverage safeguards you and your vehicle in cases where the other driver is at fault but lacks proper car insurance.

Conclusion

While adhering to the minimum liability insurance mandated by states is essential, your approach to car insurance should transcend mere compliance with the law. The aftermath of a car accident can be profoundly impactful and may reshape lives in unforeseen ways. Therefore, it’s imperative to carefully evaluate various factors, including your vehicle’s value, potential risks, and desire for peace of mind while on the road.

By investing in comprehensive car insurance that extends beyond legal requirements, you protect yourself financially and equip yourself with the assurance needed to navigate the uncertainties of driving with greater confidence and security.

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 group of self-employed workers is characterized by tax obligations differentiated from the rest of the self-employed. We refer to self-employed workers registered in the Special Regime of Self-Employed Workers (RETA). Their activity is linked to an autonomous business head to whom they are related up to the second degree of consanguinity.

What are the tax obligations of the self-employed collaborator? Pay attention to the following lines.

High in the RETA of the Autonomous Collaborator 

What are the requirements for contributing to Social Security as a self-employed collaborator? This figure is subject to a series of conditions to become part of the self-employed regime:

• Direct family member means spouse, descendants, ascendants, and other relatives of the employer—consanguinity or affinity up to the second degree inclusive and, where appropriate, by adoption.
• They are employed in their center or work centers regularly, they share a place of work with the self-employed person, and it is not a punctual collaboration.
• Share the same place of residence with the self-employed owner.
• Have at least 16 years of age.

How to Manage the Registration of the Autonomous Employee in Social Security

If you do not know the method as a self-employed collaborator, you can either follow the detailed steps below or ignore the process that relies on online advice. While you think about it, we anticipate that for the registration in Social Security as a self-employed collaborator, you need to present:

• The model TA0521 / 2 corresponds to the application for registration in the special self-employed regime for a family member of the holding owner.
• Family book.
• DNI.
• Copy of registration in the Treasury of the business owner that must be the direct relative and the taxpayer, as we will see later.

Obligations with the Treasury of the Self-employed Worker

Self-employed collaborators must follow tax obligations. The collaborator does not have taxpayer economic activity status. Therefore, you do not have to register with the Treasury, and you will not have to pay IVA and IRPF quarterly. 

Among the taxes that, as a self-employed collaborator, you will have to present is the Income Tax Declaration in your taxpayer status based on the income obtained through payroll.

Obligations of the Self-employed Person with the Self-employed Worker 

We have already seen that whoever assumes the fiscal burden of the economic activity, the independent collaborator, is a subsidiary and an autonomous holder. The latter also has acquired the following obligations with the self-employed collaborator.

Make the payment of contributions to the Social Security of the self-employed collaborator. Pay your salary and deliver the corresponding payroll according to the professional category and the applicable agreement.

Obligations for Tax for Self-employment 

Self-employed people must pay this tax as it is the employer’s portion of Social Security and Medicare. Employees must pay 7.65% self-employment tax, and self-employed people pay 15.30%. For 2024, each employee and employer must pay a wage limit of $168,600 and a 6.2% Social Security tax. The Medicare tax rate for each employee and employer is 1.45%, with no wage limit. This tax will cost you less than you imagine as you deduct half of your self-employment tax from your net income. The IRS considers the employer’s self-employment tax as their business expenditures, and you can remove it according to it. So, business owners pay 92.35% of their total income, their total business income, rather than their gross credit rate.

Tax Obligations for Health Insurance Premiums

Self-employed people can pay health insurance premiums if they are not eligible for coverage through their spouse. In this way, you can deduct all your tips. This payment is to give the courage to your children (younger than twenty-seven at year-end), dependents, and spouse. You can evaluate the deduction using the Self-Employed Health Insurance Deduction Worksheet in the IRS publication. Also, you can deduct all of your qualified long-term care insurance premiums, including health and dental.

Meals

You must pay a tax on meals as significant business expenses, especially when traveling for business or entertaining clients. The meal’s tax deduction for business owners is around 50% of the actual price of the total feed. Remember to have a receipt with you. You can pay a standard meal allowance that can be 50%. That is why you must know the purpose of the travel, time, and place. In this case, you will not need your meal receipts.

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.

These days, social media has become a potent tool to garner potential customers and build brand loyalty. Some studies suggest that most people use social media for nearly two hours daily. Social media users can significantly impact your brand’s image in this digitally savvy world. Besides, users can decide which businesses they wish to follow and what type of content appeals to them.

So, if you want people to find and follow your brand on social media platforms, you need to create a targeted strategy to engage maximum users. In this guide, we’ll discuss some social media services you can use to top your competitors.

Agora Pulse 

Agora Pulse is an excellent service for social media management. It’ll help you schedule content for platforms like Facebook, Twitter, and Instagram. Besides, it is interactive and has dynamic features like generating detailed analytics reports for social media networks. You can also market new content quickly and run promotional campaigns directly from this service. And the best news is that they also offer a free trial period to new users. So, if you’re unsure whether to purchase this service, you can test it to see if it fits your requirements. 

Bitly 

If you want to find out who and how many people accessed your links in Facebook and Twitter posts, Bitly is the best social media service to get your hands on. Bitly is a link-tracking software and is relatively straightforward to use. When you track your followers, copy a live website link like your latest tweet, type it into the service, and get shortened links.

These links look clean and track a significant amount of valuable data automatically. Bitly helps you keep track of how your links are performing. It’ll also enable you to understand where and why people clicked. 

Quintly 

Quintly is another excellent social media service to help you track your social media performance. Google Analytics is excellent, too, but it’s not particularly helpful for social media analysis. Quintly allows you to benchmark your completion’s social media strategies, which is what you need to beat them back. It’ll provide you with crisp analytical reports to give you a crystal-clear idea about your progress. Quintly also comes with a 14-day trial that doesn’t require any billing information. How generous!

It has various remarkable features to help you navigate more easily. Like Google Analytics, it gives you a custom dashboard to link all your social media platforms. This makes it easier to monitor your performance. You can also set up a dashboard to compare your progress against your competitors. 

MeetEdgar

MeetEdgar is a versatile social media service that delivers content and is a dedicated content marketer without a full-time salary. It is a powerful automation tool responsible for repeatedly sharing your best-featured content. Just think of all the time it could save you every week. It keeps you from going through the hassle of digging up old but killer social media posts. It automatically shares your evergreen content on social media, driving new engagement. MeetEdgar works for all popular platforms.

LinkedIn Sales Navigator 

LinkedIn Sales Navigator is a powerful tool designed to empower B2B sales professionals in finding and connecting with high-quality leads on the LinkedIn platform. With advanced search filters and targeting options, Sales Navigator lets users pinpoint their ideal prospects based on industry, company size, job title, and location. Its personalized recommendations feature suggests potential leads tailored to the user’s preferences and previous interactions, streamlining the lead-generation process.

Moreover, Sales Navigator provides real-time insights and updates on lead activities, informing users about key developments and engaging with prospects at the right time. Through its integration with CRM systems and sales automation tools, Sales Navigator facilitates seamless lead management and conversion, ultimately helping businesses grow their revenue and expand their client base in the competitive B2B landscape.

Conclusion

So, these social media services you can utilize to beat back your competition. You must understand that social media is a potent tool to attract new customers to your business. You need to be on social media, but you can only spend a little time on it. Therefore, you must carefully curate an engagement strategy to retain your social media following. And this is where these social media services will come in handy. We hope you enjoyed reading this post and found it helpful to get ahead of your competitors and retain your customers. 

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.