Debt and Factoring Essay Example for Free

Debt and Factoring Essay Nowadays, every business needs finance. But at the same time, bad debt has become a stinging problem for the creditors. Many companies are faced with the high credit risk, so obtaining it can be one of the most difficult parts of running your business. So what is the solution for this problem? You can see, there are so many types of business finance, including: bank loans, credit cards, leasing, even outsides investors, family and friend loans†¦ But in my opinion, one of the quickest forms of low cost business finance is factoring, where you can get up to 85% of the value of your invoice immediately, and the remainder (minus the factoring company’s fee) after the money is collected. kFactoring is one of the best ways to get quick finance, improving your cashflow and allowing you to make the most of your sales without risking late payment. What is factoring? You can image that just be simple to sell your invoice to a factoring company. You can get cash quickly, have a chance to access immediate funds, without having to wait for the customer to pay the invoice. You also don’t have to collect the debt. Because you transfer the mission to the factoring company. They get debt and have to collect it. Of course, you lose some of the value of the invoice. And the difference between the price it paid for the invoice and the money from the debtor is the factor’s overall profit. They can provide money either with recourse or without recourse. This is particularly beneficial to those of you who are in a growth period and committing more working capital to customer credit debtors. There are three basically parties involved in factoring transaction. First, the seller of goods. Second, the buyer of goods. And lastly, the factor or factoring company. Three parties interact each other during the purchase of goods. And what about the history of factoring? In fact, it started centuries ago. It was used in England before 1400. It appears to be closely related to early merchant banking activities. As time rolled on, factoring underwent several changes. The changes are brought about by technology, the organization of companies particularly air travel and non-face to face communications technologies starting with the telegraph, followed by the telephone and then computers. The changes in the legal structures also influenced the changes in factoring rules. But in general, the purpose of it is as the same. Factoring is becoming popular tool to solve problems relating collection, delays recievables. So what are the advantages of factoring over other types of finance? Time Saving – With factoring, you don’t waste too much time to chase debts, administer sales ledger. Instead that you can concentrate on the other major areas of your business and improve your efficiency. You can use this money to invest in stock, real estate Cost Naturally, one of the key considerations when thinking about factoring solutions is the amount it will cost. Obviously it will mean that profit margins are reduced when the factor’s service fee is taken into account. However, factoring your invoices is still cheaper than using credit cards, overdrafts or many other forms of finance. Factoring also gives you set fees, whereas credit cards and overdrafts costs can build up if you keep using them and not paying them off in full. Speed – Factoring allow you to capitalise on your invoices with a minimum of delay. You can get up to 85% of the invoice within 24 hours, helping to maintain a good working cashflow rather than requiring you to wait 30/60 days for a customer to pay (If they pay on time! . This is particularly useful if you get a large order that requires you to spend on stock and production costs before you get paid; factoring allows you to accept the order with much less risk to your cashflow. Security – Factoring does not require you to use your home or business assets as security for the finance, as the money is secured on the sales you have already made. Bear in mind though that some factoring companies will not want to fac tor risky invoices; as they carry the risk rather than you. Suitable for Businesses of All Sizes- One big advantage of factoring is that it is potentially suitable for businesses of all sizes; especially now there are invoice finance firms that are targeted at small businesses and their needs. The above listed advantage do not mean that the factoring operation are totally free from any limitation. Some of main limitations of such transaction are listed below: Reputation – Some less reputable invoice finance companies can damage your customer relations by being too aggressive in collecting factored invoices. However, you can avoid this problem by choosing a well known and reputable firm. Control – Factoring reduces the control you have over your debts, as the invoice finance company collects them for you. However, this also means less work on your part. factoring can have a negative impact on the way a business operates. * The factor usually takes over the maintenance of the sales ledger. Customers may prefer to deal with the company it is trading with rather than a factor. However, if the factors techniques are clearly agreed beforehand, there will usually be no problem. * Factoring may impose constraints on the way to do business. For non-recourse factoring, most factors will want to pre-approve customers, which may cause delays. The factor will apply credit limits to individual customers (though these should be no lower than prudent credit control would suggest). * The client company might only want the finance arrangements and yet it might feel it is paying for collection services they do not really need. * Ending a factoring arrangement can be difficult where the only exit route is to repurchase the sales ledger or to switch factors and that could cause a sudden shortfall in your working capital.

Busy Bubbles Laundromat and Car Cleaning Essay -- Observation Essays, D

Busy Bubbles Laundromat and Car Cleaning Free drying is for wash customers only May not be the most welcoming of banners, and yet if you are a wash customer you are one of the privileged and included. This wonderful space of washing, drying, tanning and car cleaning has to be the one and only Busy Bubbles. A small building just north of NDSU, this is an extraordinarily busy little corner of the world we call Fargo- Moorhead. Not only, can you wash your car and tan; this is a 24-hour laundromat that features: free drying! Doesn’t sound like much in the large scheme of things, and yet the numbers of people that visit this business in a week is staggering. And while the NDSU campus is very close, and the word â€Å"FREE† is connected to this establishment, it is not only college students that frequent this place of business. For an avid people watcher this place is a gold mine! Everyone needs clean clothes, and people of all kinds find their way to Busy Bubbles to complete this chore. Busy Bubbles is a smallish building considering all of the activity that goes on inside. The first thing you notice as you approach the building, are the standard car wash stalls. The functional appearance of the inside isn’t really surprising until you start to look around. The ordered green and white design on the wall seems a little at odds with the funky mismatched furniture, and the hodgepodge message board. Any one need a used truck or a new kitten? Maybe you would like to work out of your home? Or apply to be a foster care family? This board will cover any of your needs. The room appears a bit sterile, but there are little areas where you can’t miss the touch of humanity. Don’t forget to check the lost and found basket before you leave. .. ...le have entered. Two couples, one with a small child. I find it curious how both of these husbands disappear as soon as the laundry is in the wash. I can see them out starting to wash their cars. Do they know how to run the washers? Or are they intimidated by a group of women together chatting? Even my new friends husband has found other things to do in the midst of this chatter. Women always have something to chat about with complete strangers. Well in the middle of all this simple chatting I’ve finished my chore. I say goodbye to the friendly couple, knowing it’s likely I’ll never see then again. That’s how it is at the laundromat I guess. You meet people, pass the time, and then you all go your separate ways. I wonder out loud, as I go, if the pyjama lady will remember to come back for her clothes. I guess I’ll have to check out the lost and found next time.

Discuss the different factors that might affect individuals Self-Presentation Essay

Self-Presentation is a concept used to describe the behavior of ones self to create an impression which can influence others around us. One factor that may affect our Self-Presentation is the situation one is in, also known as the context. This may influence our Persona, the ‘masks’ we wear or our Performance, how ‘sincere’ or ‘cynical’ we are. For example, if one was on a first date, we may be very cynical to give a good first impression or give an impression of our ideal-self, however, if the individual had a high self esteem, they may seem to be more sincere. Another factor that could affect ones Self-Presentation is the props or costume we wear. This is called Staging. The ‘costume’ we may wear can influence other people’s image of ourselves. For example if one wears a flamboyant outfit it could suggest they feel very insecure and have a low self-esteem and they are trying to ‘cover up’, however to others they could come across confident and outgoing. This illustrates the sheer power our Self-Presentation has over others opinions of ourselves. Over time, this could also alter our perception of our self-image, that we are â€Å"playing an unconscious role and believe we are being ourselves† stated by Burton and Dimbleby. It’s not just about what we wear, the props we use or our surroundings that can affect our Self-Presentation, but also who we are with. We act differently around our close friends to our colleagues and in fact, our family. Our Persona or our ‘masks’ change depending on the people we surround ourselves with. The company we keep is also known as our ‘Teams’. In a similar way, the roles we may have will affect our Self-Presentation. Ones role as a friend will be different to ones role as a shop assistant or a teacher. We have to change our self-image to suit our role and our role changes throughout the day. Depending on how high our self-esteem is, ones persona may not be needed or used as much, which may reflect on our self-disclosure. If one has a high self-esteem, they may not feel the need to wear ‘masks’ to hide their identity. If one is open and willing to disclose information about their  private self their Self-Presentation will not be as dramatic and will seem more like their true self. This will also contribute to their personal Johari Window Model, as their ‘open’ area will be much larger. Self-presentation could also be seen as a self-maintenance strategy, trying to change our self-image. This could be due to Cognitive Dissonance, were our perception of ourselves will differ from what society expects which causes tension. Finally our Personal Style can affect our Self-Presentation. This is because, without personal style, ones performance will not flow and will seem fake.

Should legislative Acts Have Strict Punishments for Poaching Endangered Species - Free Essay Example

Sample details Pages: 1 Words: 426 Downloads: 8 Date added: 2019/10/30 Category Environment Essay Level High school Tags: Endangered Species Essay Did you like this example? In the recent years, the concern of protecting endangered species has become a largely talked about issue. The problem continues to grow to a point of uncertain damage. Questions such as will we ever recover? What can we do to get people to be more aware of the ramifications of poaching and killing endangered species. When major species of such as honey bees and the gray wolf disappear? Is there anything we can do to fix any of the damage? In the U.S. in 1973, president Richard M. Nixon presented and passed The Endangered Species Act to protect endangered species. This act was in response to further expressed concern that many of our nations native plants and animals were in danger of becoming extinct. The purpose of the ESA is to protect and recover imperiled species and the ecosystems upon which they depend. It is administered by the U.S. Fish and Wildlife Service (Service) and the Commerce Departments National Marine Fisheries Service (NMFS). The Service has primary responsibility for terrestrial and freshwater organisms, while the responsibilities of NMFS are mainly marine wildlife such as whales and anadromous fish such as salmon(https://www.endangered.org/campaigns/protecting-the-endangered-species-act/.). This act actively protects animals and species that are declared endangered so they are nationally recognized as such. Laws, regulations and fines owed in the U.S. put into place to keep the species protected. Don’t waste time! Our writers will create an original "Should legislative Acts Have Strict Punishments for Poaching Endangered Species?" essay for you Create order However outside of the U.S. in other areas of South Africa and Asia who are economically disadvantaged, so they resort to things such as poaching and skins for quick money. The ban on international trade in ivory introduced by the international community in 1989 was intended to protect the declining stock of African elephant (Loxodonta africana), by providing a barrier between the range state and the principal consuming nations. If there is a residual trade, then the efficiency of the ban is determined by the decline in the price paid to poachers, and the responsiveness of poaching effort to changing prices(Burton). Though there are actions being taken internationally to protect endangered animals like the African Elephant, grey wolf, and honey bees etc. such as the ban on international trade and the endangered species act which are vital pieces of the biological web. But there still are problems with hunting illegally which can diminishes the progress already made to protect endangered species. While this may be true there are efforts from people such as Private landowners who manage many rare species habitats, yet research on their responses to species conservation legislation is scarce.