Category: Content

Technological advances and the rise of Internet connectivity now allow companies to explore various options for accessing capital. Previously, corporate sources of finance were limited to banks, other financial institutions, investors, family, and friends. However, with the emergence of online loans and crowdfunding, appraising and obtaining loans have become much easier for entrepreneurs.

The Participative Loan is More Flexible

For business loans, interest must be paid back over a specified period, and then processing fees. The application process can take several weeks, and the bank granting the loan can specify what credit can do.

In the case of the online participative loan, the repayment conditions happen through crowdlending platforms. The lenders take a small percentage of the funds collected as procession fees. The application process depends on the campaign duration set by the financing platform used. The crowdfunding requirements stipulate that the borrower informs his donors about using funds.

The business patterns of each dominant crowdfunding model: equity, rewards, crowdfunding, and charitable giving vary widely from country to country. The four crowdfunding models are almost evenly distributed in some countries, such as the United Kingdom. In other countries, one or two models dominate. The number of platforms based on the participatory loan exceeds the different media types.

Organize Your Crowdlending Campaign Well

Fundraising is a common concept in business today. However, before deciding on a borrowing mode, it is crucial to understand the needs of each particular business or project. Traditional business loans are needed to pay off debt with interest over time, while crowdfunding helps you organize your campaign as equity or as an investment in debt securities.

The latter is often known as crowdlending. Crowdlending allows you to sell part of your stake in the business to acquire funds. You can also suggest a type of reward for your donors.

The Advantage of Having Marketing Knowledge

Banks ask for business plans to understand how your business model aims to generate income to repay the loan. Although a business plan results from excellent planning, it does not call on profound marketing know-how. However, those who opt for crowdfunding must demonstrate good marketing knowledge.

Crowdfunding platforms often reject all funding if the business fails to reach its goal. Doing the necessary homework to attract people to your crowdfunding campaign is essential. There must be an element of intrigue in your campaign.

For Multiple Sources of Funding

In today’s business and marketing reality, crowdlending is a powerful fundraising tool. Traditional loans are becoming increasingly complex, and young entrepreneurs and innovative businesses continue to fight for equitable access to funds.

It has created an incredible demand for unconventional finance sources, making crowdfunding a delectable choice. However, it is reasonable not to depend on crowdlending as the sole source of fundraising.

Companies and project leaders must also explore other resources to obtain financial support. Armed with many sources, you can create a financially stable model for your business and avoid being overly dependent on a single basis of investment.

Tax Advantages

Only two sources offer you a tax benefit in return for small company investments. The resources are the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS). They help you balance the amount of investment against the tax bills. As a result, you gain all offers without the tax payment. But you have to take care of the terms and conditions, such as keeping your investment for a minimum time.

Major Perils of Crowdfunding

Crowdfunding is a newly introduced concept in the market. That’s why investment in its campaign can be risky. Some of its significant perils are as follows:

• There is no guarantee for an ideal return on investment
• The share sales can be quite difficult
• Crowdfunding platforms can destroy itself

Conclusion

In conclusion, the evolving landscape of finance offers entrepreneurs diverse options. Crowdlending, with its flexibility and marketing demands, stands out. However, it’s crucial to diversify funding sources, considering tax benefits and acknowledging potential risks.

While crowdfunding is a compelling tool, prudent business planning entails exploring multiple avenues to build a financially robust model, minimizing dependency on any single source. Awareness of tax advantages and understanding the perils of crowdfunding are essential for navigating this dynamic financial terrain.

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.

Did you know that between 50 and 70% of small businesses fail in the first 18 months of activity? Although this percentage varies according to the country, the branch of activity, the period, and the polling agency, the reality is not very far from that margin.

The purpose of statistics is not to frighten. According to a speaker at Harvard Business School in the United States, the lack of an adequate and realistic business plan is one of the leading causes of these failures. Therefore, knowing the common mistakes that new entrepreneurs incur is a good measure. This way, you can avoid misunderstandings of those who have tried before and minimize the chances of failing in your future decisions.

Eight Common Mistakes When Starting a Business

• Lack of capital for the initial investment, including working capital
• Unawareness of the market in which it will act
• Ignorance of the legal and tax responsibilities inherent in the business
• Lack of or limited technical knowledge
• Inaccurate analysis of the place of installation and commercialization
• Little or no marketing planning
• Financial unrest
• A mix of personal accounts with those of the company

How to Deal with Common Mistakes

Knowing common mistakes is essential, but you will not advance if you do not deal with them. According to Feres, the entrepreneur must study the market demands and plan adequately before starting a business.

“This initial planning is called a business plan, and it will analyze the market (customers, suppliers, and competitors), the necessary structure (physical and personnel), and, along with that information, the economic and financial viability of the future business. That is, will it generate income? At what time? How much? “Says the consultant.

After preparing a business plan, entrepreneurs must stick to their goals and invest correctly and prudently, avoiding acting impulsively and “spending more than it should.” In this stage of financial organization, it is also essential to evaluate if you will manage the business only or achieve partners and investors.

How do We Avoid All These Mistakes?

After learning all the mistakes and how to deal with them, it’s time to learn a procedure to avoid them. Here are some valuable tips you should avoid, as they can drain your efforts. Let’s have a look at what those are!

Start Everything with a Perfect Plan

Write a proper business plan if you are going to start your own business. This idea will help you organize all your new business proceedings well and keep everything under control. Try to avoid all mistakes, as mentioned above.

With a well-developed business plan, you will stay consistent in activities, including signing different contracts and primary goals. Remember, it must be detailed or overwhelming. Try to keep it simple and to the point. It will help you to lay out a strong business foundation to streamline your business.

Ask yourself a few questions, such as long- and short-term business goals, the level of your business headed, issues you are striving to solve, and staying on track. Portray the status of your sincerity and the seriousness level related to these future endeavors.

Understand the Market Well

While launching your new start-up and before jumping into any industry, you must have a perfect idea of the market around you. Create all your products and keep your services in the immediate area that will lie in your purchase interest. You will need to take the time to know your market standards, and you can do this by conducting proper market research.

Learn everything about the level of spending with an understanding of the current economic situation. This trick will let your customers buy what they can afford. Consider the impact of market ruling from finances to the latest trends.

Conclusion

All of these things must always be under your consideration. You will need to learn about your client base with time. Don’t scramble; you can make profound changes to attract different people to your business.

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.

Whether you’ve just started or have been operating your business for several years, managing taxes – such as GST, payroll, and income taxes – can be cumbersome.

You must have organization, preparation, and knowledge to declare your income correctly and make all your payments on time.

Here are some steps to help you effectively manage your company’s tax obligations.

Keep Accounts Separately

The accounts from the business and personal accounts must be separate. Keeping separate accounts helps avoid confusion when making tax payments and other legal obligations. It also helps render reports for the money that belongs to the business and enables you to keep track of the spending. Two separate accounts protect personal resources against debts and business expenses, should this not succeed.

Put Enough Money Aside

Many business owners, especially those just starting, do not know all their income tax obligations. To avoid blunders (or provide a cushion in the event of a miscalculation), it is always best to take a conservative approach to the percentage you set aside when receiving a payment.

You also need to know all the types of payments you will need to make. Here are some things to keep in mind:

• Know when payments are due.
• Postponing a payment can be strenuous for some homeowners whose business income fluctuates. Therefore, It is vital to be aware of deadlines and have a safety cushion.
• Businesses must file their tax returns by June 15 of each calendar year, but any amounts owing are due by April 30 or the next business day.
• Report the company’s revenue, not the payments received. The income declaration must be based on the invoiced amounts, not the costs received. For example, you must report the amount you billed for your services, even if your client has not yet paid you. That is why it is wise to set aside a sufficiently large percentage of the payments received to compensate for any discrepancy caused by receivables.

Estimate Tax Deductions to Which You Are Entitled

Many business owners forget they can deduct some of the expenses incurred for their home and car if they use them for work.

Calculate the percentage of the area of your home that you use for the job. Then apply this percentage to your electricity and gas bills, property taxes, and mortgage payments as business expenses. The same rule applies to your car: determine the rate of trips you make for work and deduct this percentage of your monthly loan or lease payments, maintenance costs, and gas bills from your income.

The ability to deduct a portion of the cost of housing and travel is a huge benefit for small business owners, but do not overdo it. Make sure the deductions you request are reasonable. For example, you may be suspicious if you say you spend 80% of your home area on your business and are an independent graphic designer or consultant.

Be Well Organized

When you receive a receipt, write the reason for the expense on the back. Thus, you will not have to appeal to your memories when accounting for your costs. Categorizing your receipts as you go is also a good idea. You will lose less time in the spring.

A great way to manage your business expenses is to use a corporate credit card: it allows you to keep your business expenses separate from your costs. Some software has options for importing your business credit card transactions and categorizing them automatically. For example, the Wave accounting software allows you to scan receipts to simplify the management of your business expenses.

Managing your taxes may seem complex, but if you maintain good records, budget for contingencies, and make reasonable use of the tax deductions you are entitled to, you will feel more confident and ready to deal with the time of the tax returns. 

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.

Finding the fittest business loan for funding can be a tedious task. You have many business investment options to find the most suitable one, including loans, grants, investors, etc. The application process and set of rules of each of them are different.

The business loan option is the fittest for small businesses, as it is easy to get. But borrowing money isn’t as simple as it seems. According to one of the research reports, getting relevant financing is difficult for 72% of small businesses. It is necessary to know investment options. It will help you select the correct type of loan that meets all your business funding needs. This way, you will learn how well you use funds.

The best type of business loan varies from business to another based on terms, qualifications, rates, and the nature of the loan. This article discusses six types of business loans from which you can select the one that suits your business the best.

Term Loans

The most common type of financing is that you get all the cash up front and then make payments according to the schedule and terms decided. The benefits of this business loan are that you get the money upfront and can invest accordingly. You have the power to borrow a considerable amount, too. However, its interest rates may be higher than the others, requiring a guarantee or collateral.

SBA Loan (Small Business Administration Loan)

SBA loans are different from term loans because SBA guarantees the loans the lenders provide. The repayment method and period vary and depend on the nature of your spending. If you borrow the loan for working capital, the repayment period is seven years; if you need to buy equipment, the period is ten years, and 15 years if you want to purchase real estate. The benefits are:

• The low interest rate.
• The power to borrow a considerable amount.
• Long periods to repay the amount.

However, qualification for this loan is complex, and the process for the loan application is lengthy. This loan is perfect for your needs if you want to expand your business or refinance your debts.

Business Lines of Credit

The business line of credit allows the borrower to withdraw cash up to the credit limit authorized to the borrower. The interest rate is charged only on the amount which has been removed. This type of borrowing doesn’t usually require collateral and is flexible. If you are conducting a seasonal business or want to meet unexpected expenses, this is the best type of loan for you.

Equipment Loans

As the name says, equipment loans help a business owner buy equipment. The loan term is usually equivalent to the machine’s useful life, and the equipment’s cost plays the role of the amount of loan borrowed. The equipment itself is generally taken as collateral. The benefit of this loan is that the equipment will be in your use even when put as a guarantee. However, equipment usually depreciates faster than the loan term.

Personal Loans

If your business is new with no operating history, you might find it challenging to get a business loan. In such a case, you can get a personal loan. However, you will need a good credit score to qualify for the right personal loan amount. However, you can only get a small amount to own a business loan. Moreover, failure to repay it will end up hurting your credit score. If you have a good credit score and are a startup, this is the best type of loan you can go for.

Business Credit Cards

These cards are becoming popular day by day. Just like personal credit cards, you can make business purchases through them. Whenever needed, take out the map and make the payment. It is like a portable line of credit that you can carry around. Remember to make the minimum monthly payment and don’t make massive purchases on it. You might get rewards for shopping, and no collateral is required. However, there are several fees attached to it.

It is the best form of business financing if you want to pay for ongoing business expenses instead of going for something big.

Conclusion

All the loans listed above are well-suited to all forms of business. Pick up the type of loan that suits your needs and your business and apply for it!

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.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

All About Trade Deficit: Understanding Its Impact on the Economy and Everyday Life

Imagine walking into a store every day, buying $100 worth of goods but only selling $75 in return. You may not be out of money yet, but you’ve got a consistent “loss” on your hands. This is a simplified way of looking at the concept of a trade deficit. It’s a financial story that plays out between nations instead of individuals, and its ramifications extend far beyond balance sheets.

As someone who’s spent more than two decades helping businesses grow and thrive while staying financially healthy, I know that understanding international trade isn’t just for economists or policy wonks—it’s for everyone. Whether you’re a business owner, a consumer, or just someone curious about how global commerce touches your daily life, we’re going to break this down in a language everyone can understand.

What Is a Trade Deficit?

Definition and examples

In simplest terms, a trade deficit occurs when a country imports more goods and services than it exports. Let’s say the U.S. spends $500 billion buying products from other countries but earns only $400 billion from selling its goods abroad. That $100 billion gap is the trade deficit.

Examples are all around us. Whether it’s oil, electronics, or automobiles, the U.S. often imports high-demand items but exports comparatively fewer goods, like industrial machinery or agricultural products.

Historical perspective

Trade deficits are hardly a modern issue. Think about the ancient Silk Road. Countries “imported” silk, spices, and precious goods but often paid in gold and silver, running deficits in physical wealth. The key is that the impact of trade deficits varies based on an economy’s strength and what those imports are being used for. In some cases, deficits can signify development opportunities; in others, they might foreshadow economic vulnerabilities.

What Causes a Trade Deficit?

Economic drivers

Several factors can tip a nation’s trade balance:

• Consumer Demand: Countries with flexible income levels simply buy more, especially when foreign goods are more affordable or of higher quality. Look no further than smartphones—manufactured abroad but loved universally.
• Currency Valuation: A strong currency makes imports cheaper and exports pricier, encouraging more buying than selling. For example, a robust U.S. dollar often leads to higher trade imbalances.

Some experts argue that deficits, in moderation, might reflect a country’s prosperity and purchasing power. But there’s a flip side too.

Policy decisions

Trade deficits don’t just happen—they are often influenced by decisions made at the top.

• Trade Policies: Tariffs or subsidies can discourage exports or make imports expensive, each shifting the balance of trade.
• Trade Agreements: International deals open up markets but can sometimes flood domestic economies with imports. For instance, the North American Free Trade Agreement (NAFTA) substantially reshaped America’s trade balance.

Other rules—or the lack thereof—might make it cheaper or easier to import goods rather than manufacture them locally.

How Do Trade Deficits Affect the Economy?

Impact on GDP

A trade deficit can weigh on a country’s GDP (Gross Domestic Product) since it sends money out of the economy. But this impact isn’t purely negative. Imports like advanced machinery or technology might serve as growth tools for local businesses, acting as stepping stones rather than stumbling blocks. While helping my clients analyze their profitability at Complete Controller, I’ve seen how even an “unbalanced” financial relationship can foster future gains when managed strategically.

Ensuring accurate financial reporting is crucial in understanding the broader effects of these economic inflows and outflows. A nation’s accounts tell a deeper story than just profit and loss statements.

The job market equation

When lower-cost imports flood the market, industries like manufacturing often suffer. However, while some sectors lose jobs, others—such as tech or retail industries reliant on imported parts or products—may expand. The trade deficit and employment relationship is nuanced, with winners and losers on both sides.

Currency fluctuations

A prolonged trade deficit can weaken the value of a country’s currency. If dollars flow out of the U.S. in exchange for foreign goods, demand for U.S. dollars might decrease globally, which can lead to economic ripple effects. A weaker dollar makes imports pricier, but exports might suddenly look more competitive, helping local industries find foreign buyers.

Case Study: The U.S.-China Trade Deficit

Few trade relationships spark as much debate as that between the U.S. and China. In 2022, the U.S.-China trade deficit stood at $382 billion, shrinking to $279 billion in 2023. However, this isn’t a sign of a fundamental shift—it’s more a reflection of short-term changes in demand or policy.

Why is it so massive?

• Affordable Chinese Goods: American consumers love reasonably priced Chinese electronics, clothing, and toys.
• Policy Clashes: Accusations of currency manipulation, tariffs, and retaliation all play roles.

The US-China trade war effects showcase just how intertwined these economies are. Trade deficits often become the centerpiece of complex economic and political strategies.

Solutions to Trade Deficit

So, how do you fix a trade deficit? No one-size-fits-all solution exists, but some strategies stand out.

Policy-driven changes

Governments can introduce tariffs on imports or subsidies for exports but must tread carefully—these moves can trigger retaliation or inflation. Renegotiating foreign trade agreements is another tool to reset imbalances.

Diversify exports

Rather than relying on commodity exports, countries can expand into tech, services, or innovative industries. Diversification reduces reliance on trade hotspots that may sometimes falter.

Strengthen local businesses

Investing in education, technology, and infrastructure helps industries stay globally competitive. At Complete Controller, I often tell clients that building strong, adaptable businesses is like reinforcing a home’s foundation—it secures everything else. Effective cash conversion cycle management plays a big part in equipping companies to weather international economic challenges.

The Trade Deficit and Everyday Life

Trade deficits don’t just move billions of dollars—they touch your wallet.

• Consumer Goods: When imports are cheaper, you save money on everyday items, whether it’s groceries or gadgets. But trade wars or tariffs can spike prices overnight.
• Job Security: If you work in manufacturing, deficits might threaten your job. Conversely, sectors relying on imports often see growth. Small business owners adopting effective bookkeeping practices can help navigate these fluctuations to better predict what’s next.

Conclusion

Trade deficits might sound like dry financial jargon, but they pack a real-world punch. They influence GDP, job opportunities, and even the price tags at your favorite store. And while their impact may seem daunting, they don’t have to be a story of doom. A deficit can be an opportunity to rethink, retool, and reimagine how a nation or business approaches its trade and economy.

If you’re managing a business or budget impacted by trade shifts, don’t wait to act. Visit Complete Controller to equip yourself with insights and tools that turn uncertainty into opportunity.

FAQ

What is a trade deficit?

A trade deficit occurs when a country imports more than it exports, creating a negative balance of trade.

Is a trade deficit inherently bad?

Not necessarily. Some deficits signify strong consumer demand, while others could suggest economic challenges.

How do trade deficits impact local jobs?

Industries facing competition from imports may lose jobs, while those relying on imported materials often gain.

Can trade deficits affect inflation?

Yes, if they lead to a weaker currency or higher tariffs, costs for imported goods can rise, triggering inflation.

Why is the U.S.-China trade deficit significant?

It represents one of the largest trade imbalances globally and is a flashpoint for economic and political debates.

For even deeper insights or personalized guidance, check out Complete Controller.

Sources

• Trading Economics. “United States Goods Trade Balance.”
• U.S. Census Bureau. “Foreign Trade Data.” U.S. Census Bureau trade data
• Library of Congress Research Guides. “U.S. Trade Deficit and China.”

There is a popular trend in renowned brands to serve their customers as best as possible and maximize their satisfaction. You might be wondering why they constantly need to provide them with excellent customer service when they are already famous. They consider their consumers an asset responsible for their success and failure. They will leave the brand if they don’t please users with their outstanding service. If you want to stand out, you must ensure excellent social customer service.  

What is Social Customer Service?

It’s a tactic of supporting consumers using social media platforms. These services may include complaint resolution, response to questions, guidance, and refund issuance through social media. Social customer service is a marketing strategy to market your brand by offering a great user experience.  

Social media platforms, such as Facebook, Twitter, Instagram, and others, act as a medium of conversation between buyers and suppliers. Other than interaction, these platforms witness the exchanges between consumers and online suppliers.

Customers are more attracted to a business offering reliable and fast service. For most companies, it’s easy to resolve user queries through these social channels.

Ways to Provide Excellent Social Customer Service 

Respond quickly

Time is essential in delivering consumer service, especially when the client’s query is time-sensitive. Would you prefer a product from a brand whose social customer service is slow and takes 10 to 12 hours to get back to you? Obviously, no.

Similarly, people will stick to that brand if a brand typically replies to users’ queries within 2 to 4 hours. Quick response makes your buyers feel like you value them and want to resolve their issues.  

Know your consumers 

Strong bonding begins with understanding your customers’ needs and demands. Brands must keep in mind that consumers usually like personalization. While interacting with users, try to remember their names and previous conversations.

If you can’t remember their old conversations, it’s better to take notes to help you recall them. Taking yourself to your buyers’ level is a sign of excellent social customer service that most users appreciate.

Correct your mistakes

Not admitting your mistake in front of your consumers may result in the bad reputation of your brand. If you want to build a positive brand image, then keep your processes transparent to your customers. To achieve high-quality outputs, you need to maintain high-quality standards.

If you make a mistake, don’t lie in front of customers; instead, build their trust and take responsibility for your actions. Corrections are also an essential part of delivering outstanding social media customer service.

Listen to your users

Just think, once you tell someone your problem, their attention fades away, and it will surely disappoint you. Paying attention to your customers will make them valuable and give you loyal brand consumers who stick to them. Listening to and resolving their queries will build their trust in your business.

Keep active

Keeping your profile active on social channels is critical in delivering excellent social customer service. It doesn’t mean posting regularly or chatting 24 hours; instead, keep your audience engaged. Don’t be afraid to go beyond the designed goals; grab every opportunity to expand your business while utilizing social media customer service. You can share your everyday experiences on your business profile to deal with them personally.

Friendly attitude

Maintaining a friendly attitude is one of the most critical factors in delivering the best customer service. Try to greet customers by asking them for their recommendations.

Thank your customers

A simple thank you note is enough to make your buyers happy, and users mostly remember this kind of gesture. You are thanking them after every transaction, which is the most common way of delivering social media customer service. There are also some other ways that you may consider pleasing your consumers.

• Handwritten Thank you note – Giving a handwritten thank you note is the best way to show your customers gratitude personally. Moreover, you can also email them thank you cards in this digital era.
• Free samples – Offering free samples of your brand to your customers is another best way to appreciate them. It makes your buyers happy and helps you promote a new product in the market. If you offer them a product for free, there are higher chances they will shop again from you.
• Add something extra – Adding candies, sweets, or anything extra to your buyers’ package is also a way of thanking them.
• Discount – You can apply this technique to loyal customers who buy your products. By giving them a special discount, they will not only feel valuable but will shop again.

Nowadays, businesses are more concerned about delivering high-quality social customer service to their users. Excellent consumer service attracts loyal customers to your brand and makes your brand reputable and trusted. You can scale up your brand’s image by following the above-described ways. 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.

Both the high and low levels of unemployment are damaging to society. If the unemployment level is high, an economic recession is in the process. Companies are trying to reduce costs to increase the process of laying off their employees.

The economy is not as good as it should be. On the other hand, the low level of unemployment indicates that the economy is thriving. Almost everyone is employed, and if the position is available in a company, they might find it hard to employ new individuals, which might give rise to the cost of salaries and remuneration. The competition in the market will begin regarding the wages of such a position.

Unemployment is when many people are kicked out of a job or unwillingly not employed. This situation is due to many factors. There are multiple types of unemployment. Therefore, all the types of unemployment are categorized depending upon the causes that boost it.

Unemployment and its History

The unemployment tracking process in America has been continuing since 1940. 1933, this rate increased during the Great Depression to nearly 24.9%. During this period, the unemployment rate was above 14%. When it rose above 10%, that rate dropped and remained the same until 1982.

2009, the employment rate was more than 10% during the Great Recession. The global pandemic of 2020 has severely affected the employment rate. The lack of job vacancies increases the speed by 32.1%. During the Great Depression, this score is the level that is higher than the peak point hit.

Types of Unemployment

Based on the reasons and causes, unemployment is categorized into several types.

1. Transitional unemployment

As the name says, when an individual switches jobs from one to another, he takes a period to stay at home and rest. This period of unemployment is referred to as transitional unemployment. It doesn’t have any hit on the economy.

2. Frictional unemployment

When a company lays off the employees, it takes them a short time to find another job. This time is called frictional unemployment, where the individuals are unwillingly unemployed.

3. Structural unemployment

Unemployment emerges because of a considerable change in the economy’s structure, specifically, the decay and crumple of ventures that used to be real managers. For instance, there may be structural unemployment because the mining business utilizes numerous individuals. However, it is currently in decay. When an industry goes into the decrease, and vast quantities of individuals are made unemployed, the outcomes can be intense.

Finding new employment in different enterprises for all the unemployed specialists can take quite a while. There may be an interest in working in various enterprises and other parts of the nation. However, the unemployed individuals who are accessible for work are of the wrong kind, have terrible skills, or are in the wrong piece of the government and would prefer not to move their home.

4. Technological unemployment

When a new technology shows up, or an industry goes through a stage of adopting a particular set of technology, it reduces the cost of the company by laying off the individuals whose services are no longer needed in the company due to the replacement of their work with the machines and other forms of technologies. When such advancement strikes, many people are left unemployed. Unemployment may be a short-term process or a long-term one.

5. Regional unemployment

Regional unemployment occurs when individuals from one region refuse to move to another province to get a job. Many people are reluctant to move to another place when the jobs are low in a particular area.

6. Seasonal unemployment

This type of unemployment usually occurs in the agricultural industry, where the sales and profit related to the sale depend upon the season. Most farmers become unemployed when the season of their crops is out. Such unemployment is seasonal unemployment.

7. Cyclical unemployment

It is related to the economic recession. When the country falls into financial distress, the companies start to lay off their employees, causing massive unemployment. This unemployment is caused mainly due to the economic cycle and its fluctuation.

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.

Undoubtedly, eBooks play a crucial role in your content marketing strategy. EBooks are the best options to drive traffic to your website, generate leads, or earn revenue. E-commerce is a battlefield where eBooks are a sustaining element. The field of e-commerce is a battlefield, and, in this battlefield, eBooks can be used as an element to sustain. eBooks in content marketing show your brand’s trustworthiness by considering and catering to your customers’ questions. Before proceeding to how to use eBooks to improve content marketing, you must know why you need them.  

Reasons Why You Should Use eBooks in Content Marketing Strategy?

• Generate leads

eBooks to drive your business towards lead generation because PDF books are attention grabbers. They comfort their target audience by allowing them to read it anywhere, on any device, and in any position. You don’t need to sit still to read an eBook; thus, for this reason, eBooks get higher clicks, resulting in lead generation.

• Drive potential customers toward your business 

eBooks allow your customers to learn about your business, software, or websites. They can check out how user-friendly your software and website are. This fact builds customers’ trust in your products and services, which gives your business potential customers.

• eBooks provide valuable information to customers 

Although blogs and articles help readers perceive useful information, eBooks offer detailed information. eBooks hold a particular place in content marketing and make your content marketing strategy effective.

• Quick to create 

eBooks don’t take too much writing time; they need detailed information. Once you have selected your ebook topics, they will only take weeks to complete instead of months, like printed books.

• Convenient for readers 

eBooks are suitable for readers and publishers, as you can publish them in any format, and your reader can read them on any device. You can post them in standard designs or make them available in PDF files.

• Increase sell

Consumers usually resist advertisements, especially when searching for valuable information. Using eBooks in your content marketing strategy can attract customers to your website and make them believe there are no ads or sales pitches. There is still a sales opportunity for you by giving them the required information so that they can evaluate the effectiveness of your business.

Ways to Use eBooks to Improve Content Marketing 

Below are some ways to help you make your content marketing strategy effective through eBooks.

• Landing page

You can create a landing page on your website that will drive traffic towards your eBook, resulting in more downloads. You must brainstorm ideas and conduct thorough research to gain readers’ attention. You can link the landing page to a payment site for prepaid eBooks. Don’t forget to add sharing options to your landing page.

• Website promotion

You can use your website for eBook promotion rather than other platforms in your content marketing strategy. By optimizing your website content, you can get higher clicks and downloads. You can either place a pop-up banner of your eBook in your content, add a download eBook tag in your Call-to-Action (CTA), or add a slide for the homepage option.

• Supporting content  

After completing your eBook, you must create a few blogs related to your eBook topic. You will give readers some fundamental insights into your eBook, build their trust, and enable them to download it. SEO content is also an excellent option to increase your website traffic. By creating supportive content, you provide your readers with the reasons why they need to download your eBook. Besides creating a blog post, don’t forget to add a CTA for downloading an ebook at the end of your blog post.

• Tools to make eBook go viral 

Viral content Bee grabs the readers’ attention immediately and can be used as a promotional tool. It also lets you choose which platform you want your content to go viral. Other than the Viral Content Bee, pay with a Tweet is also valuable for making content viral. Moreover, this tool gives free access to your eBook content through a social media post on Facebook, Twitter, Linked In, etc.

• Use social media platforms

You can improve your eBook content marketing strategy by including social media platforms in your promotional campaigns. Teasers on social media might be effective, as they will attract customers to your eBook content. Your teasers can contain how-to guides, regular tips, facts, quotes, images, and videos relevant to your eBook’s content.

Ultimately, content marketing is a vast field that requires sound knowledge, relevant experience, and an effective strategy. However, you can improve your content marketing strategy through the above-explained ways.  

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 your own business is not an easy task. Ask us, but still, some wake up and decide to start their first company every day. Sometimes, it happens by accident; other times, it is a lightning idea, and sometimes it happens almost unintentionally (as the song says), but no matter how it happens, whoever starts a business will continuously be bombarded by all kinds of advice.

Mashable magazine recently published the five worst tips that You can give to an entrepreneur. Here we leave them:

Hire People You Know

It is better known harmful than well to learn to say the saying, and in this case, it is precisely that advice that many will give you initially. The problem is when things do not work with the ominous name, and you find yourself in the dramatic situation of asking your uncle, cousin, or brother-in-law to pick up his things and clean his desk.

The Market is Saturated

It is not always accurate since the success of a business lies not only in the market but also in its positioning and in the client to whom it speaks. If you don’t believe us, ask yourself why our grandparents drink coffee at Sanborn’s and we at Starbucks.

In the Beginning, You Must Charge Cheaper than the Others

Many companies do this when facing large companies, believing that reducing costs will allow them to compete and offer customers a better option. The problem arises when this cost reduction fails to generate profits.

Social Networks are Free

Getting an account on Facebook, Twitter, or Instagram is indeed free. Still, nobody thinks about the work that involves keeping these accounts with constant, creative, and valuable activity. The cost may not be monetary, but if you plan to do it yourself, you must invest time and other resources.

Establishing a Fancy Office

Entrepreneurs’ biggest mistake is establishing a fancy office that keeps them busy rather than focusing on other productive things. It is suitable to spend money on the infrastructure of your home-based office. But buying lower quality items like laptops and delivering lower quality work leads to the worst consequences. Maybe you must wind up your work. If you want to be perfect in your office proceedings, you must give your best work.

Outsourcing All Your Work

Primarily, entrepreneurs strive hard to make maximum sales and grow their businesses well. They must outsource their work, but they don’t know the result. In the end, they found poor quality output for customers, bounce rate, lost opportunities, and a significant drop in profit.

Outsourcing your business work saves you time and helps you use your trade name with a white label. But it can be the worst recipe for your business’s timeless success. So, it is better to make the team based on quality members. Build a strong foundation that helps them provide the client with the best quality of work. However, it is not easy as you must face and manage many perplexities.

Work Only to Get a Sound Profit

Many companies have a core wish to get extra profit. They use multiple strategies to attract lots of clients. Business owners believe they can sell in the first five years and earn a more significant profit. It reduces the efforts of making investors and employees happy. Also, it is a highly unrealistic practice, builds myopia while making decisions, and raises more questions about passion and commitment.

In this way, business owners pressure employees to keep their clients happy as the workload increases. If we talk about content writing, there are many things upon which writers must write according to the client’s mind. Whatever they write, the customer must be satisfied with their work. As a result, unrealistic expectations and short-sightedness occur. There is no long-term commitment to employees and clients. As a result, they must face adverse effects at an extreme level.

 

Every entrepreneur must be serious while making business decisions. Make sure each of your ideas will never get you in trouble. Don’t hire someone who knows you well; keep all your social media accounts paid. Avoid outsourcing your work, as you will have harmful consequences. Never let your employees feel less than your clients; try to keep all of them equal.

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

The time has gone when companies use paper-based invoicing as electronic invoicing has become a norm; most business owners follow this trend as it simplifies the payment process. Now, you can increase your cash flow, reduce time, and spend less money. However, you must know whether you are using electronic invoicing correctly or not. If not, try these tips that will make you an expert in electronic billing.

1. Invoice with a PAC

So far, there are only 79 suppliers authorized by the SAT for the assignment of folio and incorporation of the digital stamp, so you must make sure you have the services of one of them to ensure that your invoices are valid and legal. Check the complete list of PACs in this link, as well as that of the companies that have been revoked here. 

2. Use the services of more than one PAC at the same time

Imagine you must send an urgent invoice; it is the last day of the month, and you must deliver the tax receipt before noon. You try to enter your billing portal, and there is a problem with the service, so it will take several hours before you can bill. Do not let this happen. As a taxpayer, you have the right to invoice through any PAC, so it is a good idea to have a second option in case one of the two has a problem.

3. Take care of your money

One of the significant advantages of electronic invoicing is the savings it represents in printing, messaging, administration, and backup costs. Still, you could waste money on services you don’t need or hidden fees if you’re not careful. Find out the options for plans, packages, and prices to pay exclusively for your needs.

4. When sending an invoice, send the XML file

It is a widespread error when it comes to electronic invoicing. We send or receive a PDF file in which we can see all the data, and we assume that this is our invoice, but no. The XML file generated by your electronic billing system is the invoice itself. You cannot read it because it is encrypted, which is why a graphic representation in a PDF file accompanies it.

5. Keep your invoices for five years

It is the required time that the SAT requests to safeguard all your tax documents. You can keep them on a hard drive, on your computer, or in the cloud, but in doing so, you are in danger of losing some of them or having something happen to your information.

6. Validate your invoices

According to the rules of the SAT, the taxpayer must validate all their invoices received. It means that you are responsible for ensuring that the information in the invoices you receive is accurate and legal.

7. Do not forget the design

Even when it is not an official requirement to have a particular design on your invoices, it is a good idea to include your company logo and choose the colors for issuing your invoices. Remember that advertising is everywhere, and your invoices are also a means of branding that will strengthen your brand.

8. Stay advised, and if in doubt, ask

Electronic invoicing is constantly changing; new regulations emerge and change those that have already been established, and in some cases, we can get lost in so much information. We advise you to choose a billing system that offers you good customer service and advice so that you can answer any questions quickly and easily.

9. Unique invoicing practices

If you are using electronic invoicing, it doesn’t mean you should forget all essential invoicing techniques. Consider invoicing tricks that give you the most profitable results.

• Always ask for the payments upfront. In this way, you can prevent getting played or donating your time.
• Personalize each client’s invoice and include the recipient’s name, contact, etc. Don’t forget to add the requested amount.
• Try to fulfill all your payment terms, which must be as simple as possible.
• Offer incentives, especially for the early payment process.
• Don’t forget to charge interest on late payments, bills, and fees.
• Add your contact, invoice number, and brand information.
• List all your products and services.

Electronic invoicing makes your business activities and proceedings easier. Your cash flow increases, and efficiently convey your message to your targeted audience. 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.