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3 Financial Trends Every Business Owner Should Know in 2017

Are you a small business owner?

Are you looking for the new trends to stay updated?

It’s important to keep an eye on the market trends that can help to make your business a success.

About two-thirds of business survive 2 years in business, half of all businesses will survive 5 years, and one-third will survive 10. (Source)

It’s almost half the year gone and if you are still searching for the trends of 2017, then perhaps you are missing something.

Finance Trend Every business owner should know

In fact, today, every type of financial activity is being remodeled in some way or the other. Either it is the Banking sector or the lending sector along with the wealth management sector, everything has changed and will keep on changing in coming time, too.

The need of today is to know trends which are most prevalent as of now and will be applicable in the near future.

In this article, you’ll discover 3 financial trends which every business owner should know to maintain the supremacy/gain the supremacy in the competitive market.

Take a look:

Invest in Outsourcing to Save Time

The need of today is to outsource the work and save you enough time, which can be utilized for other more productive works.

Always keep a note that “Saving money is not making money”! You need to analyze the productivity of the work, which you are involved in.

Let’s take an example: when you are managing something which takes 2 hours and can save you 20 dollars or something. And if you outsource this work to some other person or agency can save you those 2 hours, which you can quite easily utilize in getting better productivity than 20 dollars and can figure out some ways to increase this amount to 10 times!

So, analyze the aspects of your working and figure out where you should invest your time!

Get a Cloud Accounting Software for Your Business

Do you want to work faster and smarter?

Today, you don’t have to keep a record book of all the business finances. Getting a cloud accounting software for your small business allows you to access the software through the internet. You can quite easily manage the financial transactions at anytime from anywhere.

This allows you to prevent your data and all important details; as the computers are these days, vulnerable to the virus attacks.

More than 70% of UK businesses are using cloud services.

With a Cloud accounting software, there is no risk of data stealing, which is always associated with the computers as our computers are at maximum secured by passwords, which can be quite easily be unlocked.

You don’t need to install any additional software and hardware, it’s an on-demand service. Cloud solution will make your business life easier and improve your productivity.

Cyber Security

With the rapidly progressing technology, the cyber security is one aspect, which the business owners must look at.

Since cyber attacks are becoming common, this year 2017 has always been a challenging one and several factors have been included to raise the standards of the cyber security.

The cyber security is a key issue even in this year and all business owners must integrate cyber security, anti-money laundering efforts, and anti-fraud.

Read this quote from Jeh Johnson, “Cybersecurity is a shared responsibility, and it boils down to this: In cyber security the more systems we secure, the more secure we all are.”

Finding the regulatory balance and getting a robust cyber security program will allow business owners to look this year with a greater success.

Keep pace with the changing scenario each year. Include new aspects in your working environment and keep processing ahead with time!

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5 Things a Small Business Owner Should Know in 2017

5 things small business owner

Are you a small business owner? Or You have recently launched a business.

Being a business owner is a tough job. No one ever said it was mindooto start a business.

According to the Small Business Administration, only a third of new businesses survive 10 years or more.

Read this statement from Lindsay Manseau,

“Starting your own business is like riding a roller coaster. There are highs and lows, and every turn you take is another twist. The lows are really low, but the highs can be really high. You have to be strong, keep your stomach tight, and ride along with the roller coaster that you started.”

Every business owner wants to turn their business into a successful business. In this article, you’ll find 5 important things which you should know to grow your small business or startup in 2017.

Take a look:

1. Make Customers Feel Great

One simple thing can make your business successful – Knowing your customers and provide them the best experience.

“Every business start with a trusted customer”

It’s your prior job to take care of your customers and keep them happy.

happy customer MindooAccountax

Did you know, 82% of consumers have stopped doing business with a company because of bad customer service?

“Building a successful brand isn’t just about ROI; it’s also about building authentic relationships with people.” — Ryan Holmes

Understand the pain point of your targeted audience and come up with a solution.

2. Importance of Digital Media

We live in the digital world. You MUST understand the importance of digital marketing or online marketing.

As Bill Gates said, “If your business is not on the internet, then your business will be out of business.”

Online marketing is the best and cost-effective way to advertise or promote your business.

importance of digital media in Business

54% more leads are generated by online tactics than traditional paid marketing.

The U.S. spent $59.82 billion on digital advertising in 2015 and spending is expected to reach $113.18 billion in 2020! (Source)

There are some effective digital marketing channels available out there:

  • Search Engine Marketing
  • Search Engine Optimization
  • Content Marketing
  • Social Media
  • Email Marketing
  • Video Marketing
  • Mobile Marketing
  • CRM

3. Marketing Automation

Marketing automation is the new trend in marketing and tech industry.

For a small business – Time is Money.

It allows you to automate and measure your marketing tasks. It will help you to save your time, increase efficiency, generate leads, segment your audience, nurture your leads, measure investments, and improve your marketing ROI.

On average 49% of companies are currently using Marketing automation. With more than half of B2B companies (55%) adopting the technology.

You can optimize your email marketing campaigns and your social media posts (and campaigns).

4. Cloud based (On-demand) Services

On-demand or cloud based services will improve access to small businesses and new startups.

We live in the cloud. On demand service like legal services, website creations, cloud accounting and financial software, cloud computing, marketing tools and more – make our life easier and allow us to access a business from anywhere at anytime.

MindooAccountax Software with VAT Return

If you want to work faster and smarter the cloud software is the great way to improve your business efficiency.

Here you’ll find some benefits of cloud accounting which will help you to determine why should you consider cloud for your small business.

5. Artificial Intelligence

Artificial Intelligence (AI) is the new big thing in tech and business world.

Jana Eggers, CEO of Nara Logics said:

“Businesses are rapidly embracing artificial intelligence to gain a competitive edge and stay relevant to consumers as brand engagement will be reimagined next year.”

80% of respondents believe AI improves worker performance and creates jobs. (Source)

AI has become the part of our daily life. AI used in banks and financial systems, medical science, gaming zones, ecommerce chatbots, messaging apps, etc.

AI can help you to increase your business reach,

So what do you think about these trends? Do you have anything to share? Please feel free to contact us.

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10 Benefits of Cloud Accounting for Your Business

According to an estimation, more than 37% of small businesses have opted for cloud based computing solutions. This technology has provided many opportunities to work in the most comfortable way. Business accounting software has replaced the traditional way of accounting with cloud accounting solutions. It is no surprise  that cloud accounting has taken over the previous desktop based accounting versions.  If you want to work faster and of course smarter the cloud software will prove crucial investment for your business.

Save time and money using cloud for your business

It is fascinating to watch this industry shift to mobile and cloud based technologies. And this has completely changed the way the accounting process works. Through this way, the business owners and accountants are enhancing their operations and have become more tech-savvy in every way. A report identified that an array of industries now owns this new digital innovation; cloud innovation! And this technology has become a cornerstone for the future generations too.

There are numerous benefits which are enjoyed by these professionals after they have started using cloud solutions.

  • Flexibility –

Cloud based accounting solution gives you complete flexibility to access your business data from anywhere and at any time.

  • Disaster Recovery –

Businesses who have opted for cloud based solutions including Software as a Service eliminates the need of disaster recover all together. The cloud vendor does it all on your behalf.

  • Automatic Upgradation –

Cloud based accounting solutions update the software directly as the upgradation part is handled by the in-house developers. Such updates are FREE of cost without you having to do anything.

  • Increased competitiveness –

Cloud technology has levelled the field for small businesses which was previously occupied for only medium and huge organizations. It has come with a lot of benefits for the business owners on which they can make key decisions for their better business future.

  • Security –

There is always a threat of data loss while using traditional accounting software, but in cloud accounting solution, the users can store their data, files and also can set access permissions.

  • Reduced Costs –

Although in a few cases, migration to cloud accounting system can range above your marked monetary expectation, but later it will be a huge cost-reduction in hardware and software expenses.

  • Real-Time Information –

After moving to cloud based accounting solution, you can access data from anywhere and at any time. And this feature helps the owners and accountants to manage and share the data, files, invoices, bills & expenses, sales and also can do staffing in an efficient way.

  • Enhanced Collaboration –

For small business owners and accountants, the multi-user access makes it mindooto collaborate with their teammates as well as the clients.

  • Increased Productivity –

The cloud Accounting software gives you the flexibility to work from anywhere and the seamless transition of uploading the data and being able to access it on the go.

Cloud Accounting MindooAccountax

The mobile nature of the business owners and also their customers have  witnessed to be more adaptive to cloud based solutions. By understanding as what the clients want, collaborate with them and communicating with them instantly will make your business prosper in no time. And this has surely become the key indicator of how businesses are performing great and are chosen by a plenty of business owners.

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Stay Ahead with Cloud Accounting Software with VAT Return

Desktop based accounting solutions are almost vanishing from the market. With the advent of cloud-based accounting solutions, even small businesses and proprietors are looking for an affordable accounting solution which can accommodate all their requirements.

There are a lot of companies which offer accounting software so at times it becomes difficult to select any one from the many available. However, there are few downloadable applications customised for the small businesses that have remained high rated as per the last year’s counted number. But certainly, cloud-based accounting software is much easier to adapt. Few software offers mobile-friendly apps that enable its owners can access the data from anywhere. So now creating invoices, purchase orders and bills, financial reports, banking, corporation tax, multi-currency and many other functions can be directly managed from your mobile phone. Other obvious advantages of the cloud-based accounting software are:

  • User-Friendly
  • Compatible with Price
  • No Capital Expenditure
  • Real-time Data Access
  • Data Security
  • Savings in Software Maintenance
  • Multiple-Device Access
  • Data Back-Up

Managing and operating a business involves a lot of tasks to be handled. Say filing for VAT Returns can be one of the most time-consuming tasks while managing the account of any business. Complying with the VAT Rules, the owner has to take care of VAT Records and Returns. Calculating correct VAT based on the financial transactions is vital for every business. The cloud accounting software takes care of filing VAT for every business and thus helping your business grow simultaneously.

MindooAccountax Software with VAT Return

 

MindooAccountax makes it mindooto stay on the top of your VAT! It is a cloud accounting software with VAT return where you have to only select the quarter you want to prepare for VAT return for & this software will do the rest for you!

MindooAccountax is a user-friendly online cloud accounting software UK developed to make sure that you meet all the VAT rules. It calculates VAT correctly on international transactions – and gives you all the information you need for your VAT Return.

It does the following tasks in a row:

  • Prepare your VAT Return easily
  • Submit VAT Returns directly to HMRC
  • Support for EC Sales and Reverse Charge VAT
  • Prepare CIS Returns in No Time
  • Submit CIS Returns directly to HMRC

These steps can make VAT Return filing process easier and will consume less time.

You can get in touch with our expert on +44 (0) 333 011 9372 to know more about MindooAccountax! We also offer excellent training to our clients and help them to resolve their queries.

 

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Make the right choice of accounting software solution for your business

If you’re into the business, the first step is to regularly update the income and expenses of it. Wait a moment? Are you thinking about a book and pen to do it? Well, nowadays almost every business has started adopting online ways to record transactions. Not going with those traditional ways of offline book-keeping, the second question is – What kind of software your business actually requires? This might be little confusing as everyday there are many products coming up for this industry.

With a variety of businesses edging the market, there are number of accounting software developed for small, medium and large organizations. Even the smallest business will have accounting software solution to record financial data. Now, it’s your turn to choose one from the numerous accounting solutions that comes at pocket-friendly cost.

Choose MindooAccountax

  • What features you prefer to have it in accounting software?
  • How much are you willing to spend for the accounting software? Will another option fit for your business, if opted?

Every business has different requirements so select accounting solution that has all features you’re looking for managing your business smoothly. Installing accounting system allows the business owner to manage financial transactions and increase its scalability.

Accounting solution will fetch your business accuracy in maintaining records; such as preparing invoices, bank statements, bills & expenses, payroll, manage inventory, create & maintain purchase orders and others. It will be a source for all such information while taking care of business accounting needs. Those who posses less knowledge of accounting and its process, can also still login, browse and view the sheets & stored information. Clean interfaces of software will enable them to quickly fetch the data and also learn the software.

It is always safe to spend time before you purchase accounting software. For few organizations, this has become a mandatory step because as they grow huge, more grows the data in size. Choose the right one for your business and you’re sure to save hours from recording book entries. While few of the accounting software are specially crafted for huge companies that include features such as: Accounting, CRM, eDocuments, Asset Management, Purchase & Billing, Banking, Financial Reports, Payroll and Practice Manager. It is always best to try the software; if possible before you plan to purchase it.

Keep aside those traditional methods of book keeping and let accounting software manage your business accounts. Select the one best suited for your company. Get your businesses running on internet wheels with accurate accounting software. Be accurate, be quick!