Commingling

Commingling Of Funds

According to Black’s Law Dictionary, ‘commingling’ is defined as, (Of a fiduciary) “to mix personal funds with those of a beneficiary or client.”

Even as a small business, it is important to set up separate accounts for your business and personal needs.

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How Are You Going To Fund Your Startup?

Most people know they want to start a business. What they don’t know most of the times, is how they’re going to fund their business. This is the stumbling block for many eager Entrepreneurs who simply give up their idea or dream when they just can’t figure this part out.  

When clients come to us with their interest to start a business, we make sure they understand what they are getting into financially, and that they understand the words ‘cash-flow’. Too many persons only pay attention to the frills of owning a business without taking into consideration, the in-depth details required to make a business survive and thrive. There are a lot of persons who start a business, and not enough Entrepreneurs who are able to seek out opportunities to create a sustainable, viable business, keep learning, keep creating, and keep innovating. If you’re going to build a business, why not build one to last? Why not build one your children or a future investor or buyer can take over?

So where are we going with this? Listen, if you want to start a business, you have got to keep your head in the game from the moment the idea comes to you, and not get carried away by the ‘shiny object syndrome.

So let’s talk Money! No, better yet, Capital! Where is it going to come from? This is your first business. Are you going to rely on the banks to just drop some money into your idea after you present them with a Business Plan? A Business Plan you paid someone else to do and you can’t even explain? To be quite honest with you, without a trading record, getting startup finance from a bank is going to be difficult no matter how good your idea seems.

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What To Do When Sales Are Slow

I know, the sirens are going off in your head. We are seeming to slowly come out of a bad year and you’re hoping for a breakthrough soon as sales have been terribly slow; for some, sales have even halted. No one's buying your products or services and your goods are just sitting around in boxes or on shelves alongside the other items that were supposed to bring in good money last year.

So, what's a storeowner to do when he / she feels down in a slump?

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Why Local Banks Had to Reduce Card USD Limits - A Simple Outlook

In 2017, market challenges affected Foreign Exchange (FX) availability and caused our banks to set limits on foreign exchange transactions. Now once again, those same market conditions have deteriorated and we are back at it.

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