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land management - Complete Controller

To state we are living in fascinating circumstances is a modest gross representation of the truth. Expanding populaces, globalization, and environmental change have expanded interest for land. While showcase powers have raised costs to levels unreasonably expensive to many. Urbanization has been the motor of financial advancement. However, traditional techniques for overseeing urban development have neglected to address the issues of transcendently low-pay transients and the indigenous urban populace. The difficulties are most prominent in the peri-urban territories.

Land management has some fundamental challenges attached to it. Therefore, managers must maintain essential records like bookkeeping records, land information, and relevant financial records. The following are the five major challenges faced by land management in our changing world. Check out America's Best Bookkeepers

Security of residency

Clashes over land are the most widely recognized type of suit in numerous nations, obstructing social and monetary improvement. Multiple lawful land residency frameworks introduce both policymakers and occupants with significant difficulties. Various sober-minded reactions have developed which summon social authenticity, regardless of whether they need a full legitimate specialist.

Cases that property proprietorship can enable lift to individuals out of neediness have been misrepresented. They have not just raised land costs to levels that many would like to manage yet have rendered them helpless against relocation. Considerably more genuinely, unless all resulting land exchanges are formally enrolled, the sureness given by titles ceases to exist. The lesson is evident; for the youthful, poor people and the elderly, proprietorship can be a weight instead of an advantage, so governments need to advance the scope of residency alternatives to address different issues.

Administrative hindrances

Arranging measures, directions, and managerial techniques for enrolling, creating, and exchanging land have a significant impact on the value and effectiveness of land markets.

Experts figure out these standards, but they have not met the needs of many countries. Creative methodologies, for example, ‘One-Stop-Shops,’ have enhanced land administration and should be more broadly received. Check out America's Best Bookkeepers

Land use arranging

Blended land uses social association, and monetary advancement is a critical component of effective urban areas. Be that as it may, numerous all-inclusive strategies look to restrain this for shallow types of requests. Arranging ought to likewise boost the extent of land in private, income creating use. Satellite urban communities have expanded transport costs and infringed on extensive regions of the profitable country arrive, proposing that more prominent concentration ought to be given to growing more minimized poly-driven urban communities.

Creative ways to deal with adjust the interests of open and private areas have produced numerous cases of inventive association. In any case, individual interests have expanded with arrive commercialization, debilitating impact.

The ascent of neoliberalism

Any discourse of land administration should be founded on an appraisal of the political and financial setting that decides results. Following the crumple of the Soviet Union and the confinements uncovered of communist state arranging, the impact of entrepreneur types of market-driven advancement or neoliberalism quickened universally. Neoliberalism was imagined as harmony between state arranging and traditional progressivism. Notwithstanding, it turned into a more backward monetary kind of hypothesis and applied a capable impact over the arrangements of Reagan and Thatcher, also the World Bank and IMF. Despite the worldwide retreat of 2008, land and property remain a key resource class of decision for those with assets to contribute and arrive now turned into an item like some other, drastically diminishing its social esteem. Check out America's Best Bookkeepers

The commodification of land advanced by neoliberalism has expanded imbalance in nations at all levels of financial improvement. It has prompted social, monetary, and political instability.

Political Economy

Given the degree to which rivalry for arriving has escalated, it is unavoidable that it now commands open talk and media consideration internationally. Interests have turned out to be intense, to the point that those battling for land rights have even been executed.

But basically, the test is to influence markets to work for society, not the other path around. Luckily, land and lodging markets are means for accomplishing this more extensive objective since the government applies significant immediate and aberrant impact over land costs and are along these lines supported in guaranteeing a sensible extent of the surplus created for distribution in people in general premium. There are numerous significant cases of creative methods for accomplishing this. Nevertheless, personal stakes restrain their appropriation and execution at the speed and scale required.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers

Stakeholders are one of the common parts of an organization. Nestle has many stakeholders where they have their operations. For making new efforts, or advice Nestle takes the experts’ advice name as stakeholders. For the development and improvement of corporate policies, Nestle uses stakeholder engagements. Because, according to Nestle stakeholders help them to enhance their business and mark a societal investment. Therefore, stakeholders enhance the level of the company in the market. Stakeholders play a huge role in an organization for the innovation process. CEO of Nestle has said that when a change will develop new strategies. Hence, relationships mean to engage. Nestle business is divided at different levels.

There is daily communication with stakeholders. Nestle has participated in governmental and non-governmental programs. Nestle believes that if they listen to the stakeholders and their feedbacks, it will help their company to grow more (Boschetti et al., 2016).

 

Communicate a creative and innovative management idea to stakeholders of an organization.

For Nestle, motivation of their employees is one of the priority things, because they think if they motivate them it will help their business to grow. In that matter, those that motivate their organization, produces its best in the running market. Most of all, employees get their job satisfaction, which creates a low turnover, which promotes other employees to work harder. Moreover, this process also saves money and time in recruiting.

 

Nestle has higher expectations with their employees; that’s why they have provided the tools for success. Moreover, those tools are special training and team building sessions, and these sessions are given online then the remaining practical practices are on working hours. The purpose of training is to introduce the employees to the company and make sure that they stand with the company. In that matter when an employee is fully aware of the company and the nature of the company it helps them to stay honest.

 

That’s why Nestle always put their efforts in managing the training session, as they have done in the past for their employees’ motivation and moral.

 

Establish key goals and priorities for implementation of a creative and innovative management idea using feedback from stakeholders

 

What are the stakeholders?

A stakeholder holds the interest of a company. A stakeholder can get affected by the business or can give effectiveness. Investors are the primary stakeholders.

 

Feedback from Stakeholders

Feedback from stakeholder is one of the appropriate tools. Feedback means to receive a comment from people. However, in organization feedback is defined by the customers, clients, and stakeholders. Therefore, Nestle love to hear through their stakeholder feedback, and then they realize what’s the need of their company and where they are lacking.

Implementation of creative and innovative management

Nestle is non-cyclical; it is one of the largest food and beverage company.

Nestle is using digital innovation in Silicon Valley to polish the partnership and other leading companies. Nestle always look forward to their stakeholder feedbacks, that’s why they are looking forward to the external partners that could help them to enhance their creativity. Silicon Valley, this unit is used for the creation, and the new products, strategies, and ideas.

 

Assess the barriers to the implementation of a creative and innovative management idea in an organization

Nestle has begun its journey since 130 years, and because of its innovations, Nestle has made his name prominent around the globe. As the era is changing Nestle is growing more and giving different innovations in foods and beverages such as instant soups, coffee, cereals, frozen yogurts and much more. At the beginning of the ’70s, Nestle came in the market with the pets food, pharmaceutical, and cosmetics. Nowadays Nestle is ruling around the globe with diverse products for their consumers.

 

Nestle is the company who believes in innovation and creativeness, that’s why they have maintained the balance along with geographic states, and Nestle is on decentralization, which explains each country is responsible for its own business, and these are the reasons which make Nestle face the barriers.

 

Global competitive challenges

Because of the extreme globalization, Nestle faces many difficulties. Therefore, Nestle decided to do overtime, and it became a titan force in the industry. Moreover, Nestle took help from exploration and entrepreneurship for the sudden change. Nestle supports culture, change because for them these things recognized the business. For the sake of innovation, Nestle involves fifty mergers to expand his business. Nestle concept is based on food, and they think that “food is a local matter.” Nevertheless, Nestle has spread its organization around the globe, and because of that, it faces lots of barriers internal or external.

 

Political-Legal challenges

Because of the different laws and different cultures, Nestle uses to face many challenges because it is confirmed that different countries around the globe have different kinds of laws and order and if we talk about cultures, then this is the different aspect. For the sake of culture and the people, different countries have set their laws to facilitate them, and this is one the reason for Nestle to face this barrier.

 

Economic challenges

Economic is the backbone of any country; if any company is working in a country, they may face challenges from these factors because of the commodities and high production cost. Nestle has faced the same challenges that are why they have planned for extensive green fields for dairy products. Moreover, they also decided to train thirty thousand farmers for the five next years.

 

Socio-Cultural challenges

Different cultures different societies have become a leading barrier for the Nestle. Moreover, Nestle is struggling to balance the harmony between national and international cultures. Nestle managers are doing their best to remove this barrier. That’s why they are practicing and implementing innovations. Nevertheless, it is confirmed that Nestle cannot forget the different aspects of cultures if they do so they may face public backlash.

 

Ethical challenges

According to Johnson women may face the challenge regarding gender equality, in the fields of cocoa in Africa. Although Nestle gives training to the female farmers around the globe, in Africa women, farmers are facing discrimination, low pay, and fewer advantages, which has become an ethical challenge. If Nestle wants to grow his company in cocoa, they have to remove this gender discrimination barrier from Africa.


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About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Closeup of a young female hairdresser in salon. Hairdresser holding scissors standing with hands folded at salon.
Women love fashion and, if you look around, almost every corner has a beauty salon of some kind. Running a beauty salon is not easy, especially when the economy is difficult. Someone once said: “If it is your passion, then make it your profession and you will see a success.” However, when running a business, it is not always the case; your passion can only get you so far as an entrepreneur. Below, we will focus on owning a beauty salon and what the biggest challenges are when you are in this industry.

Competitive Market

Every business faces some struggles in the beginning. The most important element when running a business is to keep an eye on your competitors. Trends are changing every day, it seems; make sure to stay updated with the latest fashions (haircuts, dying, nails, etc.). Hire beauticians who come with an extensive background of trends. And, if not, offer a training program to get your employees up to speed. The services provided by your beauticians will have a huge impact on your business progress.

 Employee Motivation/Incentives

Your employees are your business asset. As a business owner, it is your responsibility to encourage and motivate them. When an employee believes that their employee will take care of their needs, they will be willing to loyally stand by the business, through good and bad times. Offer incentives such as a bonus, gift hampers, or even health insurance. If you offer them support and make them feel secure, they will be one of the most positive assets to your salon.

Managing staff is not an easy job. Be friendly with your staff, avoid confrontations when you are dealing with issues, allow them leaves on holidays or when sick, etc.  The more flexible you are, the more willing they will be to go the extra mile.

 Getting New Clients/ Retaining Old Clients

One of the most basic challenges that business owners face is getting clients. Different businesses use a wide variety of tactics to attract clients to their services. Think of different marketing ideas, give attractive discounts, run special offers, and let people know you are there. Word of mouth is a great marketing tool; do not rely on social media only, although it is a great way to let people know about your salon. Display prices at the front desk, along with special offers.

When your client leaves the salon, try to make sure they have already booked their next appointment. Offer them lower rates compared to other salons. Create an ambiance in your salon that will make your client feel like home and relaxed. Involve your client in discussion about fashion and trends – women (and some men!) love talking about it. At times, there will be walk-in customers; many salons give priority to clients who already have an appointment, but walk-in clients give your business a boost as well, make them feel welcomed. They could possibly become a long term client.

Initiate a program where clients earn points for every service they get. When they have reached a certain amount, give them a free service or product. Another great way to bring clients to your salon is giving vouchers on their birthday. Women love to be pampered on special occasions.

 Salon Maintenance

Maintenance of your salon is another important aspect that will help you bring your clients back to see you. No one wants to go to an unhygienic place to get their services done. Decorate your salon in a lavish, trendy style to make it attractive for clients. Pay special attention to lights and chairs and use fresh, natural oil diffusers; they help create a warm, inviting ambiance.

However, when maintaining your salon, keep in mind the expenses that you will bear. It is important for any business to keep track of their expenses. If you find it difficult, hire an accountant or bookkeeper for your bookkeeping needs.

 Product Sales

Choose a product that you believe in. Your clients put trust in your choice, so make sure that the product is of high quality. Learn about different products and share your knowledge with your clients. Your product sales can bring a lot of profit to your business. If you feel uncomfortable selling, then just acquaint your clients with the products you are using on them while providing services. Most importantly, do not be pushy when selling different products. 

Conclusion

Owning a salon is, no doubt, challenging, but also rewarding and fun if you love it. Come up with strong strategies to ensure a successful business. Keep in mind, there are challenges in every new business, do not give up. Work with key performance indicators to measure your company’s growth.

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About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

 

 

 

Budgeting for Millennials - Complete Controller

Just like all other generations, millennials have to face a unique set of challenges in their transitional journey into adulthood. Entering into “the real world” has been challenging for the current young generation because of uncertain economic times and the burden of student loans. Money management has to be a top priority if they want to succeed through these tricky times.

Budgeting is vital for everyone. However, it is crucial for individuals in their 20’s and 30’s because it will eventually decide the quality of life later on. Keeping track of your financials ensures that you do not make imprudent money decisions and practice healthy spending habits at an early age.

Budgeting Tips for Millennials Check out America's Best Bookkeepers

Look at the Bigger Picture

Before you get into any budgeting details, you must draw a complete overview of all of your income streams and how you are currently managing them. If you believe that you are not earning enough money to make ends meet, it’s probably time to either look for another job or cut your expenses. One way to move up in your current job is by giving 100% to even the most insignificant tasks. This might incline your boss to notice your sense of responsibility, which could lead to a raise or promotion.

Having a clear picture of your savings and investment options is also a part of budgeting. Millennials have to be ready for times that are coming up ahead. Invest in a retirement account as soon as possible because this will allow you to start contributing to it from the very beginning. There should also be some emergency funds, which can be used in case of unforeseen circumstances. It would help if you looked at the bigger picture when making your budget rather than focusing on short-term goals. Check out America's Best Bookkeepers

Form a Budget

The ultimate purpose of a budget is to allow you to live comfortably within your means and save enough money for your future. The essential ingredient of a budget is data. All of your income, expenses, debts, and other financial affiliations will be presented in the form of numbers or data. Add up all income from whatever sources there are to begin your budget.

Once you have accounted for income, try detailing your expenses along with the category they belong to, such as living expenses, bills, loan payments, rent, and others. Millennials often tend to let go of small costs that they consider to be unimportant. However, these small amounts tend to grow significantly with time. Therefore, they must be catered to from the start.

Subtract the income from expenses to have a clear overview of what you have to work with each month. The next plan of action can then be decided based on the data in front of you. It all depends on what you are planning to spend and then saving the remaining balance, which will make all the difference in the end.

Refine the Budgeting Strategy

Millennials quite often have to deal with unforeseeable situations because of the fast-paced world in which we live. They come across various instances that may require you to spend outside of your budget. It is recommended that you should keep enough space in your allocated budget. Allocate some amount to expenses that may occur without any prior warning. Check out America's Best Bookkeepers

This is also the time to refine your budgeting strategy as most of the essential elements are now. As portrayed in the above scenario, everything might not turn out to be how we planned. Therefore, a refined strategy caters to all anomalies that can affect your budget.

Seek Help from Technology

As we see, the advanced solution to almost every problem is technology. Millennials can similarly seek technological solutions for their budgeting needs. Some apps can help you:

  • Track cash flows
  • Optimize investments
  • Set up a detailed budget
  • Receive alerts
  • Provide updated balance details

Keeping track of all these activities in one place is an advantageous way to manage your budgeting needs. They must be implemented by every millennial to stay afloat in today’s society.

 

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Trucking and Logistics Companies - Complete Controller

In the current globalized business environment, logistics plays a vital role in trade facilitating and has become a key element in business operations’ success. However, due to volatile customer demands and complex business models, it is tough to streamline logistics management.

According to a logistics study conducted in Capgemini, cutting transportation costs tops the list of the most challenging issues faced by logistics companies. Some other historical points make the list, but perhaps the biggest concern is the need for more significant technology advancements and innovation without exceeding the budget. Check out America's Best Bookkeepers

Top 6 Challenges Facing Trucking and Logistics Companies

Fuel Costs

Unsurprisingly, fuel costs pose a significant challenge to logistics companies. The industry is unable to keep up due to the recent rise in fuel costs, especially diesel. These high fuel prices are likely to affect transportation costs in the U.S. in the form of increased fuel surcharges.

After ranking 1st in 2005, 2nd in 2006, and 3rd in 2007, fuel once again attained the top ranking. Though motor carriers in 2008 aggressively sought to recoup fuel cost increases with fuel surcharges, the industry could not keep pace with the unprecedented rise in diesel fuel costs.

Economy

Along with the revolutionary increase in fuel prices, other issues such as the credit crisis and rising inflation are harming the U.S. economy.

This crisis has resulted in increased regulations, stringent compliance laws, decreases in demand, and, most importantly, the increase in marginal and fixed costs, further reducing the logistics industry’s profitability. Check out America's Best Bookkeepers

Improved Customer Service

Gone are the days when people used to wait weeks for their shipment without making any inquiries. Customers now want real-time transparency on their delivery, such as the exact location of the shipment.

Courtesy of the advanced technology available, the location of shipments is as linked as social networks. Therefore, trucking and logistics companies must also bear the expense to facilitate these online services, which can be very expensive and time-consuming, especially for small and mid-sized companies.

In addition to that, surveys show that most customers are not interested in paying for services like express delivery, further hampering profitability.

Environmental Issues

The majority of average corporate CO2 emissions occur in the supply chain, which has increased the requirement for more transparent and accountable practices from logistics companies. Furthermore, anti-idling laws and other environmental-related initiatives taken by the local and state government poses the threat that compliance will exceed their benefits.

Onboard Truck Technology

The rapid advancement in technology, as we previously discussed, has created many challenges for trucking and logistics companies to stay up-to-date with upcoming promotions. Though these latest technologies seem attractive, their implementation can be quite challenging.

Additionally, the costs related to the ELD (Electronic Logging Device) Mandate is also a significant cause of concern for the industry. It is not clear how productivity will be affected by ELD’s deployment and how the collected data will be used. Check out America's Best Bookkeepers

Driver Shortage

Until trucking companies implement tesla’s automated truck, the requirement of quality truck drivers remains a perennial top issue of the logistics industry.

The recent optimistic prediction of the trucking industry shows that truck drivers’ demand is going to surpass the supply by around 50,000 drivers. This figure can rise to 175,000 in the next five to seven years.

Conclusion

These are only some of the challenges faced by trucking and logistics companies. Issues like driver retention, HOS (Hour of Service) regulations, and growing scarcity of truck parking further increase problems faced by the already competitive and rapidly changing industry.

In light of these issues, cutting a few corners will not help much for logistics companies. They will need to adopt a strategic approach to eliminate the bottlenecks and improve their business processes, which will consequently reduce transportation costs. They may outsource their essential functions (like bookkeeping, payroll, etc.) to focus more on strategic decisions.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Local Grocery Stores - Complete Controller

Managers and owners of local grocery stores are enthusiastic about building their sales and revenues. They continuously make efforts to provide quality products that their customers want at reasonable rates. Historically, local grocery store owners have a vested interest in the community they serve. Check out America's Best Bookkeepers

Moreover, the managers and owners of local grocery stores must regularly enhance their customer service satisfaction. Although customer service and specific sales goals are a common factor with all retailers, some retail management challenges can hamper a local grocery store’s opportunity for attaining their aims.

Ever-Growing Competition with Store Chains

If other small, local grocery stores open up in the same neighborhood, it will not have any more of an effect than a store chain that opens up in the area. Store chains can afford to offer their products at a more discounted rate, resulting in quickly putting local grocery stores out of business. 

Fewer Resources but More Work

Retailers, especially local grocery stores, have to manage their work with fewer resources. Local grocery stores attempt to reduce their expense, no matter how small, to maximize their profits. Check out America's Best Bookkeepers

Knowing the Levels of Inventory

It is well-known verbiage that a store’s inventory can only be certain on the day before a store’s opening. There will ALWAYS be some discrepancy in calculating the level of inventory present in a store. Unfortunately, for local grocery stores, these minor discrepancies result in lots of money in lost sales.

This is one of the reasons why implementing the process of bookkeeping is highly stressed. Bookkeeping helps owners of local grocery stores keep tabs on their levels of inventory. An auto-replenishment system, cycle counting, and physical inventory activities greatly help local grocery stores become familiar with their inventory levels.

Understanding Customer Demands

In today’s world, local grocery stores must comprehend and discover just what their customer’s demands are. In return, the local grocery store provides its customers with demands to fulfill their needs and satisfaction.

Local grocery stores, particularly, feel the heat of competition because many new local grocery stores are offering similar products. A customer can easily walk in, find what they want, and then walk to the checkout counter. If they do not find what they are looking for in one local grocery store, they walk out and go to another local grocery store, hence, hindering your profits. Check out America's Best Bookkeepers

Managing Processes and Operations

Running and managing a local grocery store brings its challenges and problems. Managers and owners of local grocery stores need to ensure that these challenges don’t get out of control. Managing the processes and operations of local grocery stores brings its problems and challenges that retailers need to handle. Otherwise, it grows and grows, eventually taking a grave toll on the profits and revenues.

Examples of managing the processes and operations of local grocery stores include time card errors, payroll issues, faulty time clocks, and inefficient scheduling. The list can go on and on. 

Labor Costs 

Compared to other stores, the profit margins for local grocery stores are lower. Therefore, retailers need to operate their processes efficiently and cleanly continually. Labor cost is one cost that a retailer can control.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
farming - Complete Controller

In the US, farming was once considered a significant occupation. Statistics show that, in 2012, not more than 1% of the American population were professional farmers. Farmers of today face many challenges that the general public is oblivious to.

Most of the general public have an obsolete view when one thinks of a farm. They consider it a small parcel of land owned and run by family members, an area where cattle are raised, and crops are harvested. In reality, present-day farms are required to overhaul their operations to cater to the demands and stay competitively priced while adjusting to new technology.  Check out America's Best Bookkeepers

The Top 3 Challenges Face by the Farming Industry 

  1. Technology

Rural farming communities of today are expected to consider integrating modern technology into their farming industry.

As easy as it may sound, it is not. To make such a shift in rural areas is quite a challenge. The communications systems are not as up-to-date compared to urban areas. All of these factors combined make it difficult for the farming industry to make the switch and become accustomed to ever-changing technological trends.

Technology is also an opportunity in the farming industry. Research shows that the farmers who made the shift and involved modern technology into their business noticed an increase in their production process. It also had a substantial effect on labor supply. Check out America's Best Bookkeepers

  1. The decline in farming as a Profession

Very few Americans claim the farming industry as their primary occupation. In our country, most farmers are now above 55 years of age. Most young adults don’t consider the farming industry as one of their aspired professions.

  1. Environmental Apprehensions

Many farmers are held responsible for how the farming business affects the environment. These days, the emphasis is placed on conservation and sustainability. It has resulted in public protests on some farmer’s certain practices. These practices refer to the pollution of water, raising livestock, chemical pesticides, fertilizers, etc.

On the other hand, many farmers have changed their methods and practices to be more self-sustainable and environmentally friendly.

This is not the only environmental issue that farmers face in their industry. Climate and weather changes are also ecological issues with which farmers must deal. Severe droughts and intense storms have made the farming industry even more demanding and difficult. Check out America's Best Bookkeepers

Opportunities in the Farming Industry

Despite all of the challenges, there are still opportunities in the farming industry. The NSAC (National Sustainable Agriculture Coalition) works hard to provide farming opportunities to all of America’s independent family farmers. New federal programs and policies are coming out to support young adults in the farming industry.

Every few years or so, Congress reauthorizes the state farm bill in which legislative decisions about funding and policies provide opportunities for women, beginning, veteran, and minority farmers. The government also considers the funding and monetary aspect of supporting young adults entering the farming business. They will also be there to support and fund any farmers involved in the yearly appropriations process and deliver guide program applications.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Trucking and Logistics Companies - Complete Controller

Trucking and logistics companies play an extremely significant role in running the economy of the country. By transporting freight from one end of the country to another, trucking and logistics companies handle almost seventy percent of the cargo in the US. As the market becomes more competitive and fuel prices continue to rise, the financial challenges for trucking and logistics companies have increased exponentially. To be sustainable and augment their bottom lines, trucking companies need to plan and stay abreast of looming challenges and threats.

Over the years, trucking and logistics companies have faced and overcome a wide range of financial challenges. Every year, new challenges are posed to these companies. Therefore, companies must continue to identify problems beforehand and effectively deal with them. Similarly, in 2018, trucking and logistics companies face the following financial challenges discussed below. Check out America's Best Bookkeepers

The Expected Increase in Fuel Prices

According to the forecast by bookkeeping experts who keep a keen eye on the global market, oil prices are expected to increase in 2018. The heightened tensions within the Middle East, particularly Saudi Arabia and the increasing conflict between Russia and the United States in Syria, have been identified as a catalyst for a spike in fuel prices. The political crisis leads to an increase in oil prices due to the uncertainty regarding the supply of oil. If the oil supply or production is adversely affected by any event, it directly impacts the oil prices in the global market. Therefore, considering the recent developments in the oil-rich middle-eastern region, a significant increase in oil prices is imminent.

As trucking and logistics companies rely heavily on fuel to carry out their daily operations, even a slight spike in diesel prices can pose a significant financial challenge. Therefore, fuel prices pose a potent economic threat to trucking companies in 2018. Check out America's Best Bookkeepers

Increase in Trucking Charges

Due to the increased costs of fuel, fleet maintenance, and driver wages, trucking companies are forced to change the rates they charge their customers for transporting their freight. An increase in prices can potentially drive away customers, forcing them to look for cheaper options. Holding onto their current market share can be a real financial challenge for trucking and logistics companies.

Cutting down costs to keep the freight charges is also quite impossible. The companies cannot control fuel prices or maintenance costs. Cutting down the wages of drivers is not feasible as drivers expect to be paid a fair wage for the services they render. In 2018, it will be a tremendous financial challenge for trucking companies to sustain their market share while changing the rates they charge their clients. Fortunately, with effective bookkeeping decisions, trucking and logistics companies can easily overcome this challenge. Check out America's Best Bookkeepers

Death of Workforce

A lack of a qualified and trained workforce is one of the most potent challenges faced by trucking companies. Without an adequate number of drivers to operate their fleet, trucking companies will not meet their deadlines and serve the ever-increasing number of clients.

According to experts who keep track of the industry’s trends, the trucking industry currently requires at least 30,000 more drivers to be sustainable. The lack of drivers is predicted to get worse with time. Acquiring such a significant number of drivers in a limited timescale is a severe challenge. If trucking and logistics companies fail to address this issue, it could potentially hamper their operations and ultimately affect the bottom line adversely.

Conclusion

Apart from those above three financial challenges, several other challenges, such as a capacity and trend shift towards less than truckload freight, which trucking companies had to deal with within 2018. To maintain a sustainable business model and continue to make profits, trucking and logistics companies need to take the forecasts into account and make smart decisions to overcome these financial challenges in 2018.

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