ENSURE YOU HAVE A CLEAR-CUT TRAVEL POLICY SET UP
A well-defined travel policy is an important (and cost-effective) manner of effective travel management. A specified travel policy should outline clearly stipulated guidelines for all employees with regards to responsibilities and while traveling; travel arrangements and travel expenses.There are a numerous factors to consider when compiling a travel policy for your company.Although cost-effectiveness is an important requirement, it is vital that you don’t jeopardies the safety and quality of travel service, as well as compromise on travelling employees’ travel needs. Offer a small variety of options that allow employees to select one that suits them the best. You can avoid unnecessary compromise even further by letting employees offer their thoughts and/ opinions during the decision-making process.Always ensure that you always have your employees’ up-to-date contact details on hand, in case of emergencies.Responsibility regarding expenses – personal, business, leisure etc. – must always be clearly and precisely set out.GET A GRIP ON TRAVEL TECH
Travel planning has undoubtedly been revolutionised by the rise of online booking apps. The trouble with the increase in availability of such tools is choosing which one to use for your business travel planning.A great option is to have a ‘personalised’ online booking tool that has been custom made according to you business’ particular travel policies and needs. Although having your own travel tech has its advantages – such as being able to increase efficiency with built in approval processes and managing your travel at any time – there are a few disadvantages that should be noted. The initial designing and assembly, as well as the continued administration, of a custom online booking tool can be rather steep. Another drawback is that all the research necessary will be your responsibility. It begs the question whether the convenience is worth the required effort and cost.A terrific option is to make use of a travel management company (TMC). Working with a TMC means acquire an experienced travel management asset that is a devoted travel manager. A travel manager can assist you in making the best travel decisions, based on your unique business requirements. Further benefits include help with a multitude of other details, such as VISA applications; arranging ground transport; arranging Forex and taking care of travel emergencies.The smart choice would be to use a combination of the two. The advantages of TMCs are clear and they often have an online booking tool that companies can use. This way you get best of both – the convenience and control of managing your travel bookings yourself, as well as the individual support and assistance with more complicated and/ or time-consuming processes.ENSURE TRAVELLING EMPLOYEES’ SAFETY
Although business travel is an essential and probable part of most businesses, is doesn’t come without risks. A company has a duty of care to its employees. This means it has a legal (and moral) obligation to elude risk of injury to an employee during a business trip, as much as possible. The onus is on you (the travel planner) to ensure that all the proper safety plans and measures are in place. This means assigning sufficient travel insurance, which includes medical cover, lost luggage, flight cancellations, as well as natural disasters and terrorism and everything in between.Employees must be informed of the associated risks of their destinations, before travelling, and need to be informed of the course of action to follow in case there is a travel emergency.It is vital to always know where your companies travelling employees without exception. There is a multitude of apps and online tools that you can use to help keep track of and stay in touch with your travellers.PRE-BOOK TO SAVE
You can save more when you plan ahead when it comes to making travel arrangements. Research has proven that business travellers who only book their flights a day beforehand – can end up paying as much as 200% more for their flights.In contrast – airfares are generally the cheapest from three weeks and more before the departure date. Employing an advanced purchase strategy, you can reduce or moderate the influence of price fluctuations on your company’s travel budget. Although it’s not always possible to book so far in advance as meetings and schedules are sometimes changed at the last minute), it is definitely worth the effort in the long term.APPOINT THE MOST QUALIFIED PERSON
Travel planning is not an easy task – it’s far more than just coordinating itineraries. The responsibilities of a travel manager range from bookings, policy management, budget approvals, reporting and handling travel emergencies. Then there’s the time-consuming task of finding the most affordable flights, ground transport, accommodation etc.Managing your company’s travel plans yourself has some advantages, such as great understanding of the needs and schedules of your travellers. However, employing an experienced and well-equipped corporate travel agencies will save you a great deal of the hassle. Quality TMCs have a comprehensive understanding and knowledge of the travel industry, which empowers them to know when, how and where to find and book the best offers. Furthermore, TMCs often have global buying power and long-standing relationships with suppliers – which offer you the added benefit of being able to secure discounted fares on larger travel volumes.
The Fundamentals Of Planning Your Business Travel Like An Expert
Skin Care Jargon – Demystified!
Have you ever looked at the ingredients list of the skin care products and skin care cosmetics that you buy and got confused by the undecipherable terminologies used? Just as it is important to consider the ingredients of your skin care products, it is important that you know what the terms and jargon are. So here is a handy list of common buzz words of the skin care market.AntioxidantsThey are powerful nutrients that prevent free radicals from causing damage to the skin cells. Free radicals are actually unstable oxygen molecules that take away electrons from their surrounding molecules thus creating a chain reaction and damaging the skin. Antioxidant rich skin care products can enhance the skin quality.Chemical SunscreensUnlike regular sunscreens (referred to as physical sunscreens that block the UV rays of the sun) chemical sunscreens absorb the ultra violet radiation. Popular chemical sunscreen ingredients are Avobenzone, Oxybenzone, Octisalate and Octinoxate.Collagen and ElastinThey are protein fibers found within the skin cells that are responsible for the skin structure and elasticity. Collagen supports the skin tissues and keeps it firm and taut while elastin allows the skin to stretch and strain without getting ruptured. As we grow old, the levels of collagen and elastin fibers deplete thus leading to the formation of wrinkles and fine lines.EmollientsThey are special ingredients that help spread and keep other agents of the skin care product on the skin. They help lubricate the skin and protect the barrier function of the skin. They lie on top of the skin surface and trap in the moisture. In this way, emollients help to prevent dehydration.Essential OilsDerived from herbs, essential oils have an extensive range of skin care benefits. They are often included in skin care products to deliver a soothing and stimulating feeling to the skin. However, it is not advisable to use essential oils during pregnancy.HumectantsThese are the ingredients that attract moisture to the skin and thus soften skin’s surface. Because they help to keep the skin moisturized, they are effective in diminishing the appearance of wrinkles and fine lines that are a result of dehydration.HypoallergenicThis term is used to describe ingredients that do not or are less likely to cause any allergic reaction on the skin.KeratinFound in all the layers of the epidermis, this protein fiber that protects the skin against a range of stressors. Hard keratin is found in hair and nails. In fact, the epidermis is comprised of 95% of dead keratinocytes. This is why it is necessary to exfoliate the skin on regular basis in order to scrape off the dead-skin layer and reveal the fresh new skin cells underneath.Free RadicalsAggressive oxygen atoms that have lost an electron, and are therefore unstable. They must then look for an electron from other atoms, which can cause a damaging cascade effect.NoncomedogenicThis is a common term used for skin care products that do not clog the skin pores or cause comedones.Open Comedones/ Closed ComedonesOpen comedones are whiteheads while closed comedones are blackheads. They are a result of accumulation of dirt and debris within the skin pores and subsequent blockage of the same.Physical SunscreensThese sunscreens reflect off and scatter the UV rays of the sun when they reach the skin surface. Physical sunscreens are advisable for people with sensitive skin. Common ingredients of physical sunscreen are Titanium Dioxide and Zinc Oxide.ParabensThey are the artificial preservatives used in skin care products in order to prolong their shelf life. Though they are important to prevent the development of micro organisms in skin care products, but they can be harmful for the skin. It is not advisable to use products that contain a large concentration of parabens. Smaller concentrations of the same are safe though.Stratum CorneumThis is the outermost layer of the skin. Skin cells that are formed within the deeper layers of the skin take about 28 days to reach the stratum corneum. The cells in this layer are all dead and require exfoliation to clear off. However, even though the cells are dead, they form the first line of defense for our skin. They prevent water loss and protect the skin from environmental toxins and UV rays.SurfactantsThese ingredients help to reduce surface tension between skin and the skin care product that you apply and enable it to spread better.
Business Capital Solutions In Canada: Accessing Proper Cash Flow & Commercial Financing
Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.
One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.
Business Loans In Canada
Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.
1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general
2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing
3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company
Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!
A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!
When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.
How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.
Three basics always emerge when it comes to your search for the right business capital and financing.
1. The amount of financing you need
2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders
3. How the financing is structured to be manageable with your day to day operations
What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business
Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:
A/R Financing / Factoring / Confidential Receivable Finance
Inventory finance / floor planning / retail inventory
Working Capital term loans
Unsecured cash flow loans
Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.
Royalty finance
Asset based non bank business lines of credit
Tax credit financing (SR&ED bridge loans)
Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.
Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.
If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.
Stan has had a successful career with some of the world’s largest and most successful corporations.
His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.