Category Archive : Business

How Different Are Voluntary and Compulsory Liquidation Insolvency Proceedings?

Liquidation is an insolvency process, where the liquidator is hired to close the company affairs. It is of two kinds voluntary and compulsory. It is crucial to get familiar with the difference between voluntary and compulsory insolvency proceedings. They can have an extremely distinctive implication for the business and its directors.

Compulsory liquidations

Creditor/s force liquidation on your company after they get an approval on a court petition they filed for a wind-up. The official receiver takes over, the bank accounts get sealed, and the investigation starts to detect the cause of insolvency. If assets need to be realized, a liquidator gets appointed.

The proceeds from selling the assets cover the liquidation cost. The remaining funds are distributed among the creditors. Nevertheless, creditors hardly receive their total owed amount. The official receiver investigates the director’s behavior to uncover wrongdoing evidence if any.

Voluntary liquidations

Voluntary liquidation begins when the company owners and directors decide to shut the business as creditors cannot be paid. The directors schedule a meeting with the creditors and shareholders to pass the proper resolution. Even a liquidator gets appointed.

There is no involvement of the Official receiver in CVLs [Creditor’s voluntary liquidations] or MVLs [Member’s voluntary liquidations]. It is a quicker process in comparison to compulsory liquidation.

  • Solvent companies use the MVL process. The proceeds of asset sales are shared among shareholders
  • Insolvent companies employ the CVL process. Proceeds after selling the assets are used to pay the liquidation cost and remaining is given to the creditors.

What kind of liquidation suits your business?

The key difference between CVL and compulsory liquidation is the decision of the process. Nevertheless, in both circumstances the company is insolvent. There is no possibility of turning around shortly.

Compulsory liquidation is not good. Waiting for creditors to file a wind-up petition suggests that company directors are ignoring or unaware of their financial status. If this is detected by the Official reviewer, then the director is held responsible for the accrued debts because they were aware of the insolvency but kept on trading. However, the process of liquidation is lengthy.

On the other hand, CVL is the best option because there are several benefits. It reveals that the director is taking proactive steps towards the creditor’s best interest. It is crucial during conduct investigation later. The process is quick.

The employees get compensation from redundancy payments office quickly [in compulsory liquidation it takes one year before employees can make a claim]. Director is in control and business winds up systematically. In CVL, the director can start a new business in the same niche.

Tips to avoid compulsory liquidation

  • Pay off the dues
  • Defend the creditor’s wind up a petition at court
  • Enter CVA or Company Voluntary Arrangement
  • Choose CVL proceeding before the hearing

If you are anxious about your company’s financial status, then contact The Insolvency Experts. You can get good advice on how to navigate the liquidation process or is your company really in an insolvency phase.

5 Reasons to Rent a Limo for a Business Trip

If you’re flying into Houston for a business trip, you’ll need to make all the necessary arrangements in advance. You’ll want to make hotel reservations, and you should think about where you want to go to dinner your first night there. The first thing you might want to do is make arrangements for airport transportation. Here are a few reasons renting a limousine from a luxury car service in Houston may be your best choice.

1. Get to Work

As soon as you arrive in Houston, you’re going to want to go over your itinerary, answer e-mails, make phone calls, and make any other preparations for your business trip. Limos give you the space and comfort to do whatever is required for the responsibilities that lie ahead. You can even get on a video conference call, and that’s the kind of thing you’d never want to do in the back of a cab or an Uber driver’s less than spotless car.

2. You Can Count on It

The last thing you want to worry about is finding a way to get to your hotel prior to an important business meeting. Calling a car service in Houston in advance to rent a limo ensures that you can hit the road the instant you leave the airport. Similarly, you can’t afford to miss your flight. A limo service greatly simplifies the process by which you get to the airport, allowing you to concentrate on your work instead.

3. Professional Service

You have enough on your mind without having to stress out over traffic. Limo drivers are professionals who have to pass background checks, so you can expect them to be safe, reliable drivers. They’ll know the best routes to get in and out of the airport, and can usually offer helpful advice on restaurants or businesses should you need to pick up any last-minute items for your work.

4. Sound Investment

Renting a limo might seem like an extravagant luxury, but it really isn’t. With the expenses that come with gas, parking, ride shares, and car rentals, limousines aren’t as expensive as they might seem at first blush.

5. They Save Time

Things like parking and waiting for cabs or ride shares can eat up valuable time. If traffic is bad or the flight arrives late, that extra time you save could make a huge difference.

The next time you need to fly into or out of Houston for work, reserve a limo with a car service in Houston. It’s the best way to get your business trip off to a great start.

 

Overview Of Custom Reusable Bags – Current Trends And Their Uses

If you are conscious about nature, environment, and society then custom reusable bags are one of the best choices instead of using plastic bags. You can use these bags in many ways both in your personal and professional life like for birthday parties, festive, grocery shopping, and more.

Also, you can use them to promote your company or other businesses. Moreover, you can design your bag with your brand logo and some eco-friendly matters.

If you are looking for custom reusable bags, then you must visit one of the best custom grocery bags website. They provide various types of reusable bags in different sizes, shapes, colors, and designs at a reasonable price. Also, they offer free imprint logo, guarantee on quality, and on-time delivery for their customers.

Custom reusable bags are made from the hemp plant and other natural resources. You can attract everyone towards the brand because people are interested in these bags as they not only help to carry things but also help to protect the atmosphere as well.

What’s hot about reusable bags at present? 

  • Knowledge of customization plays a vital role in designing your brand perfectly.
  • Try to know about trendy and hot custom bags on the market.
  • Implement your creative skills and start designing your brand logo using a design book and catalog.

Follow some easy format

  • The catalog shows us some pictures which they can create for your brand, so you will be able to know their work and probability.
  • In each picture, you can find stats about size, materials, shape, and imprint.
  • The top heading of the catalog divides everything into parts. You can find custom laminated bags, custom non-woven bags, custom drawstring bags, and custom messenger bags.
  • If you are sure about any of these bags, jumpstart to that section.
  • If not, browse from the beginning to understand all offers.

Start designing

  • You can customize anything or everything including length, width, handles size, color and more.
  • Keep some notes on your idea.
  • Discuss with their design team to work on that.
  • Get your own custom reusable bag as the best one for promos.

Design information

  • You will find information about order placement at the ending of the catalog.
  • On another page, you can find custom bag layout pages and bag artwork specifications.
  • This technical information is useful for layouts, specifications, file formats and more.
  • After selecting the material, shape, color, and size, this information is useful for you to review the design for your custom reusable bag.

All this information helps you to know, how to start, so just download the catalog, have a look, and understand what makes your brand great. Custom reusable bags are safe for not just a particular person; they are safe for each and everyone on the earth including plants and animals.

So, choose the best supplier who sells durable reusable bags and order your favorite style bags to market your business.

Does Your Business Need Outside Management?

Some businesses can be wary of bringing in an outside management or business consultant. They may think that it reflects badly on their leadership to have to outsource a consultancy, or that the business consultant will take over and that the company will lose control of the project they are consulting on.

In fact, most companies and organizations rely on outside business consultants at some stage, typically when the business has grown to the point where it needs to move on to the next level, but doesn’t have the in-house skills or experiences to facilitate that. An outside business consultant can bring a wealth of new skills, experience and perspective to bear, usually at a fraction of the cost of taking on full time, skilled employees.

A Fresh Point of View

Business consultants come into a situation with a fresh perspective. They have an independent point of view informed by their experience in working with other companies in similar and not-so-similar circumstances, across a wide range of industry sectors. As an independent consultant, they have no agenda other than doing a good job, and they have no particular loyalties to different factions within the company. A long-standing business can be like a family, where certain things are not mentioned and certain assumptions prevail, even when they are not based on current facts. An outside business consultant can point out strengths and weaknesses and suggest change without fear of repercussion.

New Skills

A business consultant also brings expertise and specific technical skills that may be in short supply in-house. They can focus on a project without distractions and can train up company staff to continue the work after they have moved on. They can provide knowledge of best practice and effective solutions from other business sectors, and can provide a strategic overview of the company’s current position, as well as assessing the options for where to go next.

An example of a successful independent business consultant is Denver-based entrepreneur and philanthropist Scott Gelbard. Inspired by his grandfather, who established the Hong Kong branch of Merrill Lynch, Gelbard founded several venture capital firms before becoming a respected international business consultant, working with fledgling firms across Asia, Europe and North America. Some of the companies that have benefited from his expertise include BTO Self Serve Frozen Yoghurt, MusclePharm Apparel and Global Lead Gen. You can find out more at Scott Gelbard’s site.

What to Look for

The key to a successful outcome is finding a consultant that you can trust. Talk to other businesses that they have worked with to get an insight into their methods and style. Once you have hired a business consultant, make sure you communicate clearly the nature and boundaries of the project they are working on, and what you want to achieve.

A good outside business consultant is able to challenge long-standing traditions and assumptions and enable things to be moved forward with the effective implementation of goals and targets. The final decision remains with the company management, but whatever route you take, a consultant can help you develop an in-house team with the capabilities to achieve this. At the end of the consultancy period, your business should be revitalized and more efficient; the improved performance of the client is evidence of a successful consultancy.

How Does Accounting Software Improve Your Business And Profits

What does accounting mean to your business?

Year-ending financial reports, keeping records of bills, invoices, GST returns? A real daunting job, isn’t it?

Well, there is no other way; if you are running a business, and it is growing year by year, you need an accounting software to make the financial activity easier. Otherwise, you have to hire a professional to handle your accounting affairs, which will cost you more than buying a business accounting software. As a business owner, it would be great to keep yourself up-to-date with the new business trends, rather than the old traditional ways. Manual bookkeeping is not bad, but small business accounting software has brought maximum accuracy to the daunting data entry, keeping records of invoices, taxation, bills, etc. If you save the time in accounting, then you can use your brain and time in the enhancement of the productivity of your business. If the efficiency and productivity increases, you can maximize the profit. And all these can be possible only when you will get the best accounting software for your business.

What Is Accounting Software?

The Accounting software is a gift of technology to the world of business. It is a compilation of all the system and applications that are dedicated to minimizing human effort and the time, one needs to accomplish the accounting affairs of his business. With the small business accounting software, one can easily prepare his bank statements, GST returns, update financial record, create bills, invoices, etc.

Let’s have a detailed discussion about how offline or online accounting management software can boost the productivity, efficiency, and profit in your business.

Time-Saving

Compared to manual bookkeeping, an accounting software saves the time of the business owner, and this is one of the biggest advantages it holds. Just imagine, you are preparing bank deposits and GST returns, managing financial records, creating customer invoices, bills, etc. only within few minutes. And all of this can be possible with the online accounting software. A business accounting software will reduce the time that you need to accomplish your financial affairs. You just sit on a chair, take a sip of your coffee, and sigh in relief, ‘phew, my job is done.” Try not to become idle, utilize the time in thinking how to grow your business and increase ROI.

Cash flow Management

An accounting software will not only help you to keep the financial records up-to-date but also provide you a future insight of your cash flow management. For instance, you have entered the bills and customer invoices into the system along with their due dates. The system will show you a report on how much cash you have in your pocket right now and what cash flow you are expecting to come until the due date. There is no doubt, that small business accounting software will help you to manage your cash flow.

Minimized Error

While entering data into your financial record, preparing bank deposits, invoices, bills, GST returns, a single and trivial mistake can cost you an arm and leg in future. But, with the best accounting software, you can minimize errors in your financial reports, entering all the data correct and accurate.

Cut Off Monthly Expenses

No matter whether you are a small business owner, or the owner of a large enterprise, money always matters. If you hire an accountancy service to handle your bookkeeping affairs, it will cost you a lot of money every month. On the other hand, buying a business accounting software will cost you primarily, but it comes with long-term benefits. It will cut off your monthly expenditure on accountancy service. Therefore, an accounting software will proliferate your profit.

Scalable Solutions

The best accounting software available in the market comes with such features and applications that will be scalable to the future needs of your business. They will boost the efficiency that will go hand in hand with your business growth. Online accounting management software is accessible from anywhere, anytime. Many business owners are now expanding their business, hiring home-based employees. More you expand your business, more profit will come to your pocket.

Align Book offers the best accounting software with features like multi-currency, multi-language, notifications, etc. With Align Book accounting software record and manage your accounting details, boost your profit at ease.