3 Ways to Fund a Startup Business

Every type of business will require some funds to get started. Not only do you need a money to start a business but you will also need to have the funds to carry out a marketing campaign on it. A marketing campaign is important in order to advertise and get the word out about your products. The following are 3 ways you can funds a startup business.

  1. Use the Money from Your Savings

The easiest way to fund a business is to use your own savings. You can start saving some money from the job that you are currently doing. The only problem with this method is that there will be a limit on your capital. Some homeowners borrow money through home equity line of credit, which is borrowing against the value of their homes to fund their businesses. However, borrowing from home equity can be risky. You may lose your home in the event your business is not successful and you cannot come up with the funds to pay back.

  1. Borrow Money from Credit Cards

Many people have used their personal credit cards to finance their businesses. Credit card has a limit of a few thousands dollar and is suitable for use in buying small items for the business. You are also entitled to some protections when you use a credit card to pay for your business expenses. Some people have also withdraw cash advances to pay for business expenses. However, cash advance has expensive interest rate. You may find yourself trapped in a debt if you depend on cash advance as a source of financing.

  1. Ask Friends or Relatives to Lend You Money

People who have no savings, and no credit cards and no credit history to take out loan will usually resort to friends and family members when they need to borrow some money. With this method, you can risk damaging the relationship with your friend if you can’t pay back. Your friend may appear generous but his face may turned sour when you say you can’t pay back.

To prevent this from happening, it is best that you put everything in writing, for example through a promissory note. In the promissory note, you list down all the conditions of the money loaned clearly. It is way to show that you are serious about paying back the loan to your friend. After addressing all the conditions in the note, you and the lender will have to sign it to validate it as a legal contract.

You can use any promissory note template as long asit has all the necessary elements. Movavi PDF Editor includes a free professional promissory note template that you can use for an unsecured loan you have borrowed from your friend. Filling the promissory note form only takes a few minutes. Get more details at https://pdf.movavi.com/promissory-note.html.

Most of the information are already there and you only need to fill in basic information in regarding to the borrower/lender identity and the loan. The files are fillable, meaning, you can click in them and start typing to enter the information. When you are done, you just press the save button and print it out.

The promissory note template in the software covers all the basic agreement in between the borrower and lender. It is like a simple promise written on paper and no collateral is needed to validate the note. However, keep in mind that the document is legal and will produce the same consequence on the borrower who default like a bank loan. The lender may repossess the borrower’s property as stated in the note. He may also attempt to seek restitution by sueing the borrower in the court.

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Mechanical Engineering

Industrial Engineering is also referred to as Production Engineering, Manufacturing Engineering or Manufacturing Systems Engineering; a distinction that appears to rely upon the point of view or motives of the person. The position of an Industrial Engineering Technologist is to find out the most effective solution to produce a product or present a service and in the end, help organizations train better control of manufacturing, service, high quality, costs and deployment of resources.

Go searching and you’ll only see industrial engineers – your cup, your laptop computer, your scarf, your pocket book: all the pieces wants somebody to plan their life cycle. Clemson University provides 5 Industrial Engineering Diploma programs. We don’t at present present any Industrial Engineering Jobs in &rct=j&frm=1&q=&esrc=s.

GC2: Can apply the information and abilities inside industrial engineering in new areas in order to perform superior assignments and initiatives. The economic-grade facility permits students to take a product from concept to actuality using reducing-edge know-how.

Many experienced engineers with superior degrees are promoted to administration positions or begin their own companies, the place they’ll earn much more. They might additionally need to repurpose current facilities and equipment, design new processes, and design new instruments and fixtures.

Trendy industrial engineers typically use predetermined movement time system , laptop simulation (especially discrete event simulation ), along with in depth mathematical tools for modeling, resembling mathematical optimization and queueing principle , and computational strategies for system analysis, analysis, and optimization.…

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Tilt Switches: When, Where, How, and Why

A tilt switch is one of the simplest sensors available. You can even make one at home, as long as you have a metal ball, a piece of Veroboard, an acrylic tube, and a pin header.

Tilt switches are used in numerous industries, from children’s toys and alarm clocks, to aviation and military equipment. Similar to disturbance switches, tilt switches are components that are elementary and irreplaceable at the same time.

What Is A Tilt Switch?

The main goal of a tilt switch is to sense changes in inclination and orientation. In other words, these low power and easy-to-operate sensors turn on or off by tilting.

A tilt switch usually looks like a cylinder with a rolling ball inside. Two conductive poles stick out of the cylinder. When the cylinder is tilted, the ball touches the poles and shorts them. When the cylinder is stationary, the ball stays centered, leaving the poles inactive.

Different configurations of such switches exist but the principle of their operation is the same. Ask any expert electronic switch manufacturer and they’ll tell you that creating a top-notch tilt sensor is not as easy as making a “garage” or DIY version of it.

Tilt switches manufactured for aviation or automotive industries are durable and highly precise, ready to react even to the slightest inclination.

What Is A Mercury Switch?

You may often hear the term “mercury switch”. In fact, a mercury switch is an old version of a modern tilt switch, which used to be common in the twentieth century. You can still find some of them today, but the majority has been replaced due to environmental and safety concerns.

In a mercury switch, the ball component is made of mercury. Mercury used to be considered a good choice in the past,—before the adverse properties were discovered—due to its high density. The information about mercury’s toxicity has reduced the use of the material drastically.

A ball switch has more bounce than a mercury switch and thus offers higher sensitivity. However, it is much noisier. These can be both advantages and disadvantages depending on the application.

Which Industries Use Ball Switches?

You may be surprised how common a ball switch is today. In fact, you may be hard pressed to find an industry that doesn’t have a use for one or several ball switch types.

They are regularly in demand for:

  • Aviation settings
  • Agricultural machinery
  • Toys and novelty products
  • Automotive settings
  • Military equipment
  • Mobile gadgets
  • Home appliances
  • And much more.

Ball and tilt switches come in all shapes and sizes. They can be manufactured in general size or customized for a specific use.

Tilt switches are cheap, safe, and easy-to-use, but the materials they are made of dictate their quality. The tilt angle the switch works at is also highly important to the outcome of the project.

Final Thoughts

A tilt sensor is one of the simplest and cheapest sensors available for many industries today. A careful approach to choosing the right sensor for your project can greatly contribute to its success.

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HS Footwear Co., Renowned Footwear Manufacturer Shares What You Need to Know About the Import-Export Process When Working with Footwear Manufacturers in Vietnam

Footwear companies are increasingly ordering their products from Vietnam. If you are in the industry, you might be wondering, why is this happening? How does Vietnam handle export items? What are the basics of the importation of goods into the United States?

Over the last decade, China has lost increasingly more business to Vietnam’s footwear manufacturers. Companies such as Fast Retailing Co., Ltd. have moved operations from China to other countries, as their wage costs are cut in half when manufacturing in Vietnam.

Indeed, in 2014, Nike, Adidas, and Puma increased their business with Vietnam by 25% compared to 2013. Furthermore, in 2017, factories in Vietnam produced 44 percent of Adidas footwear. Worldfootwear.com also noted that Vietnam’s footwear exports are up by 11% for the year. So, how does this translate to dollars? In the first nine months of 2018, Vietnam exported nearly 11.8 billion US dollars’ worth of footwear.

“According to the latest edition of the World Footwear Yearbook, in 2017 Vietnam produced 1.1 billion pairs of shoes (a share of 4.7% in worldwide production), taking the third position as the largest producing country. In 2017 Vietnam was the second largest exporter of footwear with a 7.1% share (1.0 billion pairs) behind China (9.7 billion pairs; 67.5%).”

Footwear companies are also choosing Vietnam manufacturers because of their import-export processes. Vietnam wants a vibrant economy, and they have few, if any, barriers to products for export.

The most common and inexpensive way to start exporting products from Vietnamese footwear manufacturers is by first establishing a trading company. In order to be permitted to export, (or import,) a foreign investor must also register with the Department of Planning and Investment (DPI). Additionally, the investor must obtain an Investment Certificate. The good news is that most goods and services being exported from Vietnam are exempt from tax.

Prior to importing a product, you may contact the U.S. Customs and Border Protection (CBP) office at the port of entry where your merchandise will enter the United States. A complete directory of the various ports of entry can be found on the CBP website. There are many rules regarding the subject of imports to the U.S.A., but footwear is not hazardous in any real way, so the barriers are low.

According to U.S. Customs and Border Protection, “CBP does not require an importer to have a license or permit, but other agencies may require a permit, license, or other certification, depending on the commodity that is being imported.”

In conclusion, Vietnam footwear manufacturers are in demand, and the demand is growing. Although importation into the U.S.A. has its regulatory hurdles, importing products from Vietnamese footwear manufacturers shows no significant barriers.…

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How to Save Money on Accounting Fees

Accounting fee is an unavoidable cost in any business. Most businesses pay accountants by hours worked or the workload done. The charges of accounting can be hefty and an unexpected expense on a business. It is essential to find a way to reduce these fees that add to your massive costs leading to lower returns in business.

Oculus group is an accounting company that ensures you get accounting services at a reduced fee. You can click here for a list of services.

How do you reduce accounting fees?

1) Make use of leverage technology

Xero is a software that automates tasks previously done by accountants. It can perform functions such as bank reconciliation. Using this software will ensure you save money on accounting fees. The software is fast and reliable, and its maintenance fees are low compared to hiring an accountant who will take days to complete the task manually.

Technology-based technology is essential in cutting costs on any business task. Applying xero makes the work efficient and accurate. You will reduce the need to hire accountants who in most cases overcharge their services.

2) Pay accountants on the fixed fee agreement

You need to make a smart contract with the accountants. If you opt to pay the accountants on hourly bases or workload, they will overcharge you. If for instance, your deal is by the hourly payment the accountant will ensure they spend more hours on a small task to accrue more pay. Regardless of the workload ensure you make a fixed fee agreement.

The fixed fee agreement will not give you unexpected costs and will ensure the accountant does their work fast and efficiently. This approach will save you money on accounting fees.

3) Shift to do bookkeeping on spreadsheets

Maintaining straight forward records will ensure the accounting task is simple. The more your records are precise, the less you will incur accounting fees. Records on spreadsheets will provide your documents are well maintained and not difficult to trace.

4) Simplify your transactions recording

Ensure all your transactions are well maintained and clear. If your accountant spends more time traces a document, the more you will incur accounting fees. Attach all invoices systematically for easier reference.

5) Assign only accounting tasks to an accountant

Ensure your accountant only handles duties that are accounting based. A clerk can do some essential functions such as bookkeeping. Don’t allocate additional tasks to an accountant. If you want to save money on accounting fees, the first strategy is ensuring you minimize their responsibilities. Ensure they perform functions that require their expertise and knowledge.

Bottom Line

To make higher rates a business need to cut unnecessary costs in their operation. Accounting fees is a significant expense in all companies as transactions are vital in every dealing. Finding a way to reduce accounting fees is essential.

The best way to reduce accounting fees is to maintain concise and transparent records. Additionally only allocate accounting based tasks to an accountant. Applying leverage technology will also help you to save accounting fees.…

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How to Push Your Career Forward in Asia

The Asian market is hotter than ever with more companies expanding to the region. Aside from China and India – which are two of the biggest markets in the world right now – there are also countries like Thailand, Indonesia, and Malaysia offering plenty of opportunities for businesses to grow.

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As more companies expand to these markets, there are also more opportunities for you to climb up the corporate ladder and push your career forward. It is easy to find companies who are looking to fill strategic roles in these countries. Before you start applying, however, there are a few preparations you need to make first.

Pick Up New Skills

The Asian market is slightly different than markets in Europe and the United States. You cannot expect to use the same skillsets and strategies, at least not if you want to excel. Before applying for a managerial position in the region, it is a good idea to pick up a few new skills.

For example, you can do a situational leadership training course to sharpen your leadership skills. The leadership training will introduce you to new approaches and better ways to lead an effective team. Remember that your team members will have even more diverse backgrounds, which is why boosting your leadership skill is a must.

Coding – even when you are not a coder – and language skills are also worth investing in, with the latter being a huge plus in the eyes of companies expanding into Asia. Even when you pick up a new language in its basic form, knowing the local language is still a huge plus. You’ll be more effective as a manager too.

Research the Country

Moving to a new country to push your career forward is a big move to make, but it is a move that you want to plan carefully. Before applying for the job of your dream, make sure you also learn more about the country you’ll be moving into.

Many expats actually start with country research; you can too. Instead of searching for jobs and accepting the destination country as part of the deal, you can now filter jobs based on where you want to be stationed. There are even local headhunters and employment agencies that can help you.

Knowing where you want to move also gives you an added advantage. You can plan better for the relocation, making the whole transition smoother and more manageable.

Review the Path

Just because you are excited about the prospect of moving to a new country and moving forward in your career, doesn’t mean you should skip the details. You still have to review every job opportunity from an objective standpoint.

Do you have what it takes to perform well in the new job? Does the new position offer a good career path to pursue? Will you be able to achieve your mid- and long-term goals by moving to the new country? Answer these questions before finalizing the decision to apply for a position in Asia.

Cover these basics and make the necessary preparations. Moving to an Asian country to pursue a better career is the best decision you can make right now. You’ll be able to reach new heights while experiencing new things along the way.…

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What You Need to Know When Starting Your Own Jewelry Business

The jewelry industry has always been dominated by monopoly-holding big brands and traditional names that likely created your grandparents’ wedding rings and their parents before them. But that’s not to say there isn’t space for newcomers who can offer a fresh take on a product that will forever flourish in its evergreen market.

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Whether you want to create your own pieces from scratch, or outsource the production process and focus on customer experience, the potential for success is always there. However, you will need to ensure that your creations are unique and guarantee customers that they’re getting what they pay for – or at the very least, convince them that this is the case.

After all, anyone in the industry will tell you that diamonds aren’t worth a fraction of what they’re being sold for. Perceived value is important. There’s a lot that an aspiring entrepreneur needs to understand when getting into a new business. In this post, we’ll cover a few basics to help you get started.

Know Your Niche

Depending on which angle you wish to take, there are three main types of jewelry businesses:

Fine jewelry is probably the first one that comes to mind. This involves careful craftsmanship of fine stones that are usually reserved for special occasions and high-end customers. While your upfront costs will be significantly higher, the prices you charge for the final product can also skyrocket.

If your capital doesn’t necessitate the above option, you can always opt for the more affordable route of fashion jewelry. This involves less expensive metals and manufacturing processes. Here, you’re free to import your raw materials from lower cost manufacturers instead of having to source expensive stones.

That said, this is no time to skimp on quality. Take a look at some Thailand jewelry manufacturers that offer affordable wholesale jewelry. Here you’re guaranteed a certain level of quality and won’t have to constantly deal with defects and bad batches.

A More Unique Take

If the above options are too traditional for your liking, there are a few alternatives that could prove to be more successful. For example, the 3D printing industry is becoming increasingly advanced, making it a perfect way to create uniquely designed pieces with less common materials.

Branding

Focus on a professional, consistent and meaningful overall look for your brand. Work on creating a unique theme and message that will help you stand out among the sea of Shopify drop-shippers and eBay storefronts.

Understand the Market

There’s no point in offering laser-cut brass necklaces if a hundred other more established companies are already doing the same thing. Market research is extremely important; it will help you find a gap to get into and avoid selling what will essentially be a duplicate of someone else’s products.

How you choose to approach your jewelry business should fall in line with your own tastes and vision. If you have a passion for creating something that nobody already offers, it all comes down to putting in the time and effort into making your vision a reality. Go for gold!…

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