Approximately 9 million visitors flock to Branson each year to go to music shows, theme parks, fishing, and many other family oriented activities. Branson, changes so fast that it is hard to keep track of the latest events. Branson now has 47 music theaters, 200 lodging accommodations, and over 400 restaurants.Before you go to Branson, you should read up on the latest literature advertising the latest attractions to hit the area. After you have read up about Branson’s current attractions you should find your lodging in advance. Going to Branson during peak moments of the season can be quite distressing if you don’t plan your vacation in advance.There are several travel tips that will truly enhance your vacation that you should consider. After you arrive to Branson make sure that you stop at any gas station and pick up one of the free coupon books that are readily available throughout town. These coupon books offer significant discounts at restaurants, theaters, and hotels. You can literally save several hundred dollars from simply picking up a coupon book.It is my recommendation that you book a hotel that isn’t located directly on the main strip. Traffic can get quite congested and you really don’t want to get caught up in traffic drive to and from your hotel.Another important piece of advice I can give is to pick up a Branson map that has all of the alternate traffic routes that you can take. Taking alternate routes is such a time saver while transporting yourself around to your different vacation destinations. The maps are easy to follow and the alternate routes use simple “color” routes that are posted throughout the city.If you are going to multiple shows during the day, make sure that you give yourself enough time to find your dinner location and get to your next show on time. If you are going to an afternoon show, and an evening show in Branson it is best to go to a 3:00 and 8:00 show to give yourself plenty of time to eat dinner without being rushed. These travel tips and vacation advice will help your Branson vacation go as smoothly as possible. Reading the Branson Travel Guide will help you further in planning your vacation.
College students, and for that matter, college-aged kids, can make extra money by posting jobs on micro job sites. What types of jobs? Well that depends mostly on the individual’s skill set and for college students, their major and courses they’ve studied. There are parallels for many different majors and the types of jobs that work and sell well on micro job sites and therefore, there are many opportunities for college students in a variety of majors.
So what are micro job sites?
These sites allow anyone to post jobs that typically cost under $20, but the most popular sites allow users to post jobs in the $5 to $10 range. Website-related services like SEO, article writing, link building, etc. are the most posted jobs, but basically any job (except for adult, illegal and gambling related jobs) goes and can turn into a best selling job! That’s one of the main attractors of these sites; it’s nearly impossible to tell which job will strike accord with the buyers that frequent these sites. The key is value and quality; if you’re posting jobs that offer a quality service that will save the buyer time, you will sell jobs!
Why should college students post jobs on micro job sites?
There are several reasons why college students are perfect sellers on micro job sites and can therefore make money, but the big ones are their skills, ability to work when you can, being tech savvy and their ability to pick up things and learn quickly.
College Students Have Skills!
College students typically have many areas of expertise and have skills that most of the population doesn’t have. Moreover, every individual has a unique skill set and all of this can be used to create jobs and fulfill orders in a way to actually make them a decent hourly wage. The more unique and different a job is, the more views it will get and in turn, will sell more. By having multiple skills at your disposal, you can bundle them together and create some ingenious jobs that people will want to buy at a low price. The trick then is to figure out a way to offer something unique in a relatively quick fashion. That’s up to every individual to figure out!
Selling on a Micro Job Site offers Time Flexibility
College students typically have ever-changing schedules and selling jobs on micro job sites allow them to work when they can and fulfill orders for their services when they come in. This way, they can work an hour at a time when they have free time instead of needing a multiple hour long block of time to “punch in” to make money.
College Students have grown up with Technology
Because college students have grown up with technology, many of the types of jobs that sell frequently on micro job sites are either second hat to them or can be picked up quickly and leveraged to make money. One of the reasons micro job sites have remained popular is because the buyers would rather pay someone who already knows how to do something a bit of money than have to learn how to do it and then actually do it. Having a wide-based skill set allows you to post more high quality jobs in a variety of areas and you’ll sell more than someone with 1 job related to 1 specialty.
If you’re a college student and you’re looking to make money online in the free time that you have, consider posting jobs to micro job sites. You can sell jobs based on the knowledge you have right now and based on the skills you possess!
When you can take your typical sales process of selling one-to-one…… And flip it on its head and sell one-to-many. Congrats! You have successfully employed leverage in your business.Marketing Automation Software allows you to employ leverage in your business: To supercharge your marketing and sales.Leverage is typically the defining difference between a successful business and a SUPER successful business.How much leverage are you employing in your business now?What about your Customer Value Optimization (CVO)?Having all these tools at your disposal is great for promoting your products and services.But what about your CVO?Have you maximized the lifetime value (LTV) of your customer?The goal is to design a marketing funnel that makes it easy for your customers to buy all or most of your product or service offerings again and again…A marketing funnel strategy is absolutely essential to optimizing the profitability of your business.And it’s the key to deriving the most value from your Marketing Automation Tools.Without a high converting marketing funnel, all you have is an engine that’s not moving very fast…Marketing Automation Software is business changing technology.Infusionsoft, AWeber and Meet Edgar will allow you to stay in touch with prospects and customers…… Automatically.However, this doesn’t mean NO effort (although once you get your routine down it can FEEL effortless).You still have to create the content and messages you’d like your audience to experience.Marketing Automation Software allows you to systematize and organize your marketing beyond anything you ever thought possible.You can literally take a new lead and guide them through your sales process, on auto-pilot.InfusionsoftInfusionsoft is the only all-in-one sales and marketing automation software for small businesses that combines CRM, email marketing and e-commerce.KEY FEATURES:
Built-in metadata and keyword fields
Drag and drop to craft and publish landing pages
Easy Publishing, Landing Pages
Email marketing, Automated Campaigns
Multimedia marketing management
Referral Program Management
Track orders, sales totals, accounts receivables
Lead Scoring & Distribution
Quotes & Orders
Simplify Sales Activities
Qualify and Distribute Leads
Automate Sales Tasks
View Sales and Conversion Reports
Manage Opportunities and Pipelines
Capture Leads with Web Forms
Manage Your Calendar and Tasks
Import and Manage Data
Build Relationships with Campaigns
Follow-Up with Smart Autoresponders
Share Content Socially, Measure Results
Look Professional with Attractive Emails
Get to the Inbox with 99% Deliverability
Capture Leads with Web Forms
Track Results with Reports
Get Personal with Behavioral Triggers
Market Offline with Multimedia
Create a Storefront and Shopping Cart
Create Electronic Order Forms
Sell More with Discounts, Upsells and Trials
Offer Payment Plans
Trigger Post-Purchase Follow-Up
Invoice and Collect Electronically
Manage Product Inventory and Fulfillment
Grow through Affiliate Programs
Build Smart Campaigns
Qualify and Distribute Leads
Create Smart Promo Offers
Invoice and Collect Automatically
Track and Deliver Products
Create Personalized Communications
Over 23,000 small business owners use Infusionsoft to get organized, save time and grow sales. The one-drawback to Infusionsoft is that it’s NOT plug-and-play. It takes time to learn.But it’s time well spent.AWeberAWeber Communications is popular for its superior autoresponders and is a solid performer in most aspects of email marketing.KEY FEATURES:
A/B Split Testing: You can create A/B versions of an email campaign and test to see which version is more successful.
Alias Email: You can create an alias email address to send email blasts from.
Autoresponder: You can create auto-response emails.
Image & File Hosting: AWeber will host the images and other documents used in your campaigns.
Integration: The product can integrate with other software applications or websites.
RSS to Email: Emails are automatically sent when an RSS feed on a website or blog is updated.
Scheduling: You can schedule the specific time and date of your email blasts.
Social Media Sharing: You can share directly through social media websites.
Triggered Campaigns: You can create auto-responding campaigns that are triggered by customer behaviors.
BENEFITS:When it comes to campaign effectiveness: There’s a lot more to keep your eye on besides revenue numbers and subscriber counts.To really understand how your campaigns are working, you need to look at how your customers are interacting with your emails.AWeber provides just this kind of data, which is accessible at any time through AWeber’s email reporting dashboard.You can bring up charts that show how many of your contacts opened your emails and how many clicked on the links within your message.This kind of information tells you a lot about how engaging your emails are and helps you identify problem areas to solve.You can also bring up data on your subscribers, including location information.And records detailing when and why customers unsubscribed from your list.Although most email marketing companies provide access to some customer data:AWeber provides you with exact information you need to create better, more effective campaigns.Meet EdgarEdgar is a social media scheduling tool like no other.Instead of publishing your updates just once and throwing them away like yesterday’s trash:Edgar carefully catalogs them in a limitless library that you build over time.FEATURES:
Facebook profiles, fan pages, groups
No software, downloads, or plugins
Compatible with Firefox, Chrome, and
BENEFIT:All of your updates are sorted into categories that you create and publish on a schedule that you choose.So Edgar publishes what you want, when you want it.No manual scheduling, no busywork, and no hassle: just the peace of mind that only Edgar can provide.And the first question our clients often ask us:
“What kinds of tools and software are needed for Marketing Automation…
“… And how much does it cost?”
I think this is a fair question. It’s important to understand the process of moving your business online.This shouldn’t frighten you. The reality is: MOST businesses are hybrids. For instance, you might start advertising online.Then bring your prospects offline, for an appointment or consultation, to begin the sales process.Some businesses begin advertising offline. Then bring their prospects on-line in front of their sales pages or applications…… And then off-line again for an appointment.Either way, nowadays marketing automation software plays an important role in your business.It allows you to sell more of your products and services. MORE efficiently online.
With the freedom of expression and the plethora of alternatives it offers, photography is one of the most popular and widespread of all art forms. Whether it’s a dear memory you wish to preserve or an intricate work of art you find your expression in, photography has many takers, each of whom assimilate the art in their own unmistakable style. From bulky cameras trailing yards of film to state of the art pieces which capture images even faster than you blink, cameras have come a long way since their inception. Digital cameras, the latest to join the bandwagon, have opened up new vistas in the flexibility they offer as well as the crystal clear images which they produce, thus making them a hands-down favorite with casual and commercial photographers the world over. But when it comes to selecting your own digital camera, how do you know which one’s the best for you?With technology growing in leaps and bounds, digital cameras, too, have seen many changing faces and features. But to first understand which camera is best suited to your needs, you have to first isolate the purpose which your camera will serve. This is because every make and model of cameras has been developed to suit a certain blend of requirements. Thus, although a high speed camera may be the best bet for a professional sports photographer, it certainly won’t suit your needs if you’re buying it to take along on your family fishing trip. Also, if you’re very particular about the amount of dealing in your images, you would certainly de well to know that several of the sleeker, more compact versions are not equipped with many of the more advanced features as their primary purpose is to ensure portability.You would then need to progress to acquainting yourself with the nitty-gritty or the technical aspects that belong to the field of digital photography. the LCD, or screen that most digital cameras boast of, make a welcome addition to the conventional viewfinder as they allow the photographer the alternative of viewing his image before and immediately after he captures it. However, if the viewfinder has been replaced by the LCD, it may compromise the quality of images, as you will no longer have the option of holding your camera to your face, which grants you a lot more stability. Instead, you will be forced to hold the camera at an arm’s length which will result in distorted and blurred images.Many novice photographers are also unaware about the difference between the optical zoom and the digital zoom. It is crucial that you recognize this difference as it will greatly influence your pick. The optical zoom relies on the more conventional method of magnifying the image that you want to capture while the digital zoom doubles the size of the pixels, leading to fuzzier images. As many expert photographers will recommend, a stand goes a long way in determining that your images are as crystal clear and steady as you would want them to be. Remember to check the number of mega pixels your camera allows. This is because the higher the number of mega pixels, the clearer the quality of your images is bound to be.Once you have ascertained your requirements and brushed up on the basic technicalities, you can then proceed to examine the various models available and measure their pros and cons. Narrow down your shortlist as per those models that meet your budget and requirement and discard those that do not. You can also seek the advice of the expert reviews that are published in many major photography magazines and periodicals, which will also keep you abreast with the latest technology and grant you many tips and suggestions.If you are too used to the conventional manner of photography, clunky camera, film et al, but would still like the clarity and precision that digital photography has to offer, you can also scan your photographs into the digital format after which they can be worked on with editing software. You can also hire online photo services to take over this task for you and even have them rework your photographs to eliminate blemishes like red eye and partial overexposure.The best of all the advantages that digital photography grants you is to be able to practice your skills to your heart’s content without having to think about the enormous film bills you are raking in. instead of printing them out, you can directly transfer them onto your computer from where you can print them out, email them or even design a unique photo-card. The opportunities are endless and awaiting at your doorstep. So take that first step to choosing your ideal digital camera today and explore your creativity to its ultimate!
Imagine that 20 years ago someone had told you that you would purchase your music, car insurance, airline and hotel tickets, stocks, books and even shoes on a computer that fit in your hip pocket. That you would not have an agent or broker between you and the stock exchange or the airline or insurance company. And imagine that you could do all the comparative research needed to execute your transaction in minutes…in your pajamas! You would have told that person they were dreaming.Well, lately I have been dreaming as well. As my generation (the baby boomers) settles into its post-nesting years, less and less of our disposable income will go to durable goods such as home furnishings. Instead, once college for the kids is taken care of, our disposable dollars will go back into bolstering our retirement accounts, and then to travel.Our absence leaves the future of home furnishing consumption to the next generations: Gen-X, Y and soon, the Millennials. This generation, many of whom grew up with a cell phone as a birthright, will have no qualms about not sitting on a sofa before they buy it. This generation put companies like Zappos the online shoe retailer on the map. They grew eBay into a monolithic clearing house for everything from rare coins and dolls to automobiles and airplanes.Buy a pair of shoes online without even trying them on? Sure, this generation can reconcile the relatively benign inconvenience of returning something, with the huge convenience of carrying on with their multitasking. Think of this: these “kids” watch T.V., carry on a live chat on the computer, text message friends from their smart phones, reply to Facebook posts AND do their homework at the same time! These power users of all things tech will drive the explosive growth of home furnishings online.All that is good news for an ailing industry. But, the glacial pace at which the Home Fashion Industry moves may keep us from a fully realized online presence a bit longer, but it will eventually change. The early adopters may unfortunately suffer some ridicule and perhaps a backlash from the traditional forms of distribution, e.g. walk-in Furniture Stores. However, the momentum toward adopting online furniture sales is inevitable and moving forward. Crate & Barrel, Pottery Barn, Williams Sonoma Home and other large furniture retailers report faster than expected growth within the online sector.The ultra-lux online retailer Gilt http://www.gilt.com is adding Home Fashion as major new growth campaign on its invitation only website. Gilt is a luxury online retailer of fashion and jewelry. Eventually and by necessity, the Home Fashion market will have the perfect vehicle in the Web to remove the multiple layers between the manufacturer and the eventual consumer. This will of course spell bad news for the middle-men. What to say about that is another topic altogether.The online Home Furnishings future also portends a new egalitarianism for the small independent Interior Designer. In the past, the small or “housewife” designer was ridiculed for A: not having a serious office and staff and B: Not Stocking product. Most, if not all, were relegated to the retail store (something their own customer could do) or the trade showrooms that were not retail, but no bargain either.With the advent of online buying, designers who heretofore could not meet minimum orders can avail themselves of better than retail pricing and quick responses from the factories. The more established design firms benefit as well. The new system will allow them to purchase just what they want, when they want it. No need to slog through multiple catalogs trying to find just the right thing, when the keyword search found it in milliseconds.Another component to convenience and speed is that designers can purchase when their time allows. This means that the staff that are now doing their own job and that of three others, can buy at any time day or night. So if working late at home over a cup of tea and in slippers or at the office with a glass of wine, they can execute their purchases on their schedule, not the factory or sales rep’s.This is truly a brave new world in commerce. But fear not! We have nothing but positive data to look upon to show us that its working in virtually every consumer sector. The market will always demand an efficient system. It will tolerate waste until a better model is available. We are there now. How long it will take us to adapt will depend on industry leadership and willingness to break old molds. If we keep our customers in mind, the change will come sooner than we might expect.
Does the name Sonoma and Williams sound very familiar to you? You would have heard it because they are a consumer retail company. They are into selling kitchenware, furniture, linen etc. They also sell house wares and also sell special kind of food products. They are a NYSE (New York Stock Exchange) listed company. You would find the company with the name WSM on the stock list.The company has large network of retail stores all over the world. In all there are over 500 stores. The company’s headquarters are based at San Francisco in California in the United States of America. They have many brands under them which are called West Elm, William-Sonoma home, and Pottery Barn Bed. They employ over 7000 people on a full time basis. With such a large network and customers they are also generating a lot of revenues to the tune of over $4 billion.The company was set up in the year by 1956. It was set up by Charles E. Williams in a place called Sonoma. In the beginning the company sold kitchenware for a small customer base. Friends and family members of Charles seeing the kitchenware he sold advised him to change locations to San Francisco to expand his business. Once he moved to San Francisco he expanded by printing mail order catalogs for the customers. The company went public in the year 1983 by listing in the New York Stock Exchange (NYSE).By 2001 the company had set up its first international retail store in Canada. Then there was no looking back with new stores in Puerto Rico, Calgary, Toronto and Vancouver. The company also started a TV program in collaboration with CBS called “The 5-Minute Cooking School”. This show showcased various cuisines, methods of cooking and many new recipes for its viewers. The company’s products were selected by Oprah in her list of favorite things for two consecutive years in 2004 and 2005.
Pizza is one of the most popular snacks in the world. What is so amazing about it is the fact that it provides more or less a balanced diet that consists of carbohydrates, lipids, vitamins, minerals and protein. It is very easy to make for yourself at home and this allows you to garnish as you wish and add the toppings you prefer, if any. Pizza can be baked in a modern oven using an aluminum or metal pan, but there is no denying the superior taste quality of pizza made using a hot stone. The Williams-Sonoma pizza stone is a great example of bakeware that is able to replicate the pizzas made in popular in pizzerias that use brick ovens. These pieces of stoneware make it possible to literally create that taste at home in the comfort of your own kitchen.The Williams-Sonoma Company is one that chefs and leisure cooks have sworn by for years. They provide amazing high quality kitchenware and rare spices, as well as cookbooks and special recipe websites. Anything that will help your life in the kitchen easier, they can provide. They are one of the leading manufacturers of kitchen appliances for both commercial and home use.Features of The Williams-Sonoma Pizza StoneThe Williams-Sonoma stone is made of a ceramic material. This material is a major advantage as it ensures even distribution of heat allowing food to cook slowly and thoroughly. For pizza, this mean a perfect crust and an evenly cooked pie overall. The stone is usually rectangular and has enough space for standard large size pizzas.Some of the stones from Williams-Sonoma come with handles and stands. This allows the user to use the stone as the serving surface. Care should however be taken to ensure that the stone is cooled enough to prevent chances of it cracking due to sudden heat change.How to Use a Williams-Sonoma Pizza StoneWilliams-Sonoma stones work using the old hot stone technique. Just follow these steps:1. Prepare the pizza by adding pastes, toppings and cheese.2. Pre-heat the stone in your oven to the recommended heat of your recipe.3. Sprinkle some flour or bread crumbs on the Williams-Sonoma stone to prevent sticking.4. Place your raw pizza on the hot stone using a peel.5. Close the oven door and allow the pizza to cook for the recommended amount of time.6. After it is ready, remove it using the shovel and place on the serving plate.How To Take Care of a Williams-Sonoma Pizza StoneI. This bakeware is ceramic making it susceptible to cracks or breakages if dropped. To prevent this, place it on a level surface preferably close to the ground when not in use. When in use, make sure that you handle it using gloves to prevent from dropping it in case you get burnt.ii. Wash using a soft brush and clean with soap-less water. The soft brush is to ensure that you won’t wear out the surface due to friction. Using clean water without soap is essential because the Williams-Sonoma stone is made of absorbent material. Using soap will affect the taste of the food being baked on it.iii. Store in a clean dry place to avoid fungus formation on the absorbent surface.iv. Allow the device to cool slowly to prevent cracking due to sudden cooling.v. Do not place any objects on it when in storage.Pros and Cons of the Williams-Sonoma Pizza StoneThe Williams-Sonoma stone is a great product because:The material minimizes chances of overcooking or undercooking the pizza. It is easy to use and maintain. It can be seasoned with salt and herbs to add flavor to the pizza. The ceramic material used is absorbent and absorbs moisture from the dough giving it a nice crusty finish. The one con of Williams-Sonoma pizza stones is the likelihood of cracking when mishandled. This can be avoided by following the care steps that have been provided above.The Williams-Sonoma pizza stone is a must-have item in your kitchen if you want to bake better and healthier foods. It will make it easy for you to make tasty pizzas and other great foods without worrying about kitchen embarrassments and mishaps.
The borrower needs only to pay monthly payments composed of interests and no capital for the first few years of the mortgage repayment program. However, these loans come with some risks that should be taken into account prior to applying.These risks may imply that you’ll end up paying significantly higher amounts on the long run or worst that you may loose your property if you are unable to meet the monthly payments whether it is in the first stage of the loan repayment program or in the second one when the monthly installments turn more onerous due to the inclusion of the loan’s principal. Overpaying Interests To cover for the expected losses due to a higher default rate that these kinds of loans have, the lender will charge a higher interest rate than that of regular mortgage loans. This will imply that even if you get lower monthly payments at the beginning of the loan repayment program, you’ll end up paying a lot more on the long run.Also, since you are not canceling any principal, the interests are always calculated over the whole loan amount as opposed to regular mortgage loans where the loan’s principal gets reduces every month and so do the interests on the loan. This fact alone implies huge savings that you are walking out on by choosing an interest only mortgage loan.No Equity Generation During the first years of the mortgage repayment program, you won’t be generating any equity on your home. Equity is the difference between the property’s value and the amount of debt secured by it. Since with interest only mortgage loans you don’t cancel part of the principal at the beginning of the repayment program, equity won’t increase.Equity is very important because you can always resort to it when you need finance during an emergency. If something happens and you can’t afford the monthly payments on your mortgage loan you can always refinance and obtain cash of your property to get back on track. But if you chose an interest only mortgage loan there will be no equity available and thus, no chances of obtaining extra cash out of your property.Greatest Risk: Variable Interest Rate If you selected an interest only mortgage loan because you couldn’t afford the monthly payments on a regular mortgage loan, you should be especially careful with variable interest rate mortgages. An interest rate variation can affect the monthly payments on a regular mortgage with variable rate slightly because only part of them is interests. Yet, on Interest Only Mortgage loans it can be disastrous.An increase on the interest rate on a variable rate interest only mortgage loan can imply a significant raise on the amount of your monthly payments, and thus you may be unable to afford the monthly installments on your loan. Thus, if you choose an interest only mortgage loan try to make sure that you get a fixed rate mortgage or at least that you have enough available income ready in case your monthly payments increase.
Careers in corporate financing require professionals to hold a degree in the field of accounting and finance. Students can obtain the education they need to succeed by enrolling in an accredited school or college. With an education students can gain the knowledge and skills they need to pursue a variety of careers. Corporate financing career education options are available at an associates, bachelors, masters, and doctoral degree level.
Associate degrees can be earned through accredited educational programs in as little as two years. An associate’s degree is required in order to enroll in a bachelor’s degree program. Students can train for an accredited bachelor’s degree by completing four years of study. A bachelor’s degree will allow students to enter the workforce or pursue a master’s degree in the field. Completion of a master’s degree will require students to complete an additional two years of study in corporate finance. The highest level of education in this field is a doctoral degree or PhD. Students who wish to do so can obtain a doctoral degree in the field by studying for an additional four years. Students will need to complete a variety of coursework in order to gain their desired degree.
Specific coursework and areas of study will vary based on each individual students desired level of degree and career. Accredited corporate financing schools and colleges will provide students with coursework that will give them the skills and knowledge needed to enter the field. Associate and bachelor degree areas of study may consist of subjects like finance, budget management, accounting, statistics, investment management, and much more. With enrollment in a masters or doctoral level degree training program students will have the opportunity to learn marking, international finance, cost management, applied statistics, financial statement analysis, and many other corporate finance related courses.
By earning a degree at an associate degree level in corporate financing students will be prepared for a number of exciting careers. Professions for associate degree holders include financial or business analyst, associate support analyst, and more. By earning an accredited bachelors degree students can pursue careers as cash managers, strategic planners, senior financial analysts, and many other related professions. Students who choose to earn a masters or doctoral degree can enter into the workforce as directors of finance, chief financial officers, chief executive officers, treasurers, researches, teachers, and much more. Gaining a degree in corporate finance opens a world of career opportunities.
Courses for continuing education are available to allow students to enhance their skills in certain areas of the industry. Coursework will vary depending on the career and desired skills and knowledge. Students can earn certificates by completing continuing education courses in corporate finance.
Sources of business finance can be studied under the following heads:
(1) Short Term Finance:
Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.
Sources of short term finance are as follows:
(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.
(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.
(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.
(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.
(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.
(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.
(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.
(2) Medium Term Finance:
This finance is required to meet the medium term (1-5 years) requirements of the business. Such finances are basically required for the balancing, modernization and replacement of machinery and plant. These are also needed for re-engineering of the organization. They aid the management in completing medium term capital projects within planned time. Following are the sources of medium term finance:
(i) Commercial Banks: Commercial banks are the major source of medium term finance. They provide loans for different time-period against appropriate securities. At the termination of terms the loan can be re-negotiated, if required.
(ii) Hire Purchase: Hire purchase means buying on installments. It allows the business house to have the required goods with payments to be made in future in agreed installment. Needless to say that some interest is always charged on outstanding amount.
(iii) Financial Institutions: Several financial institutions such as SME Bank, Industrial Development Bank, etc., also provide medium and long-term finances. Besides providing finance they also provide technical and managerial assistance on different matters.
(iv) Debentures and TFCs: Debentures and TFCs (Terms Finance Certificates) are also used as a source of medium term finances. Debentures is an acknowledgement of loan from the company. It can be of any duration as agreed among the parties. The debenture holder enjoys return at a fixed rate of interest. Under Islamic mode of financing debentures has been replaced by TFCs.
(v) Insurance Companies: Insurance companies have a large pool of funds contributed by their policy holders. Insurance companies grant loans and make investments out of this pool. Such loans are the source of medium term financing for various businesses.
(3) Long Term Finance:
Long term finances are those that are required on permanent basis or for more than five years tenure. They are basically desired to meet structural changes in business or for heavy modernization expenses. These are also needed to initiate a new business plan or for a long term developmental projects. Following are its sources:
(i) Equity Shares: This method is most widely used all over the world to raise long term finance. Equity shares are subscribed by public to generate the capital base of a large scale business. The equity share holders shares the profit and loss of the business. This method is safe and secured, in a sense that amount once received is only paid back at the time of wounding up of the company.
(ii) Retained Earnings: Retained earnings are the reserves which are generated from the excess profits. In times of need they can be used to finance the business project. This is also called ploughing back of profits.
(iii) Leasing: Leasing is also a source of long term finance. With the help of leasing, new equipment can be acquired without any heavy outflow of cash.
(iv) Financial Institutions: Different financial institutions such as former PICIC also provide long term loans to business houses.
(v) Debentures: Debentures and Participation Term Certificates are also used as a source of long term financing.
These are various sources of finance. In fact there is no hard and fast rule to differentiate among short and medium term sources or medium and long term sources. A source for example commercial bank can provide both a short term or a long term loan according to the needs of client. However, all these sources are frequently used in the modern business world for raising finances.