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BCT: the Management Board concerned about the acute drying up of external financial resources

The Management Board of the Central Bank of Tunisia (BCT) expressed Wednesday during its periodic meeting its concern about the acute drying up of external financial resources, facing the significant closure needs of the State Budget for the year 2021, reflecting the fears of international donors in view of the deterioration of Tunisia’s sovereign rating and the absence of a new program with the IMF.

This will require an intensification of bilateral financial cooperation by the end of the year in order to mobilize a maximum of external resources and to avoid monetary financing during this period as this implies spillover effects on both the level of inflation and on foreign exchange reserves and management. the upward trend in the dinar exchange rate of commodity prices on international markets following its negative impact on Tunisia’s relations with international donors and sovereign rating agencies.

On the other hand, the Council underlined that the deterioration of public finances, suffering from a situation of vulnerability, as well as the rise in international oil prices, are likely to slow down the sustainability of the public debt, in addition to the negative effects. the increase in public debt the sector’s indebtedness to the banking system on its ability to finance economic operators.

She added that the persistence of this situation will have strong negative repercussions on the external balances and on the foreign exchange market.

After discussions and deliberations on the aforementioned issues, the Council reiterated its deep concern over the current critical financial situation, stressing the need to send clear signals to local and foreign investors regarding the resumption of economic activity and global and financial balances, consolidation of public sector governance, improvement of the business climate and intensification of investment efforts.

In this regard, the Council affirmed that the Central Bank will continue to play fully its role of supporting the economy and closely monitor the development of economic, monetary and financial indicators.
It has decided to keep the key rate of the Central Bank of Tunisia unchanged.

Relative recovery of certain sectors

The Council reviewed recent economic, monetary and financial developments, including data on economic activity. Indeed, the GDP posted in the second quarter of 2021 an increase of 16.2% compared to the same period of last year and a decrease of 2% compared to the previous quarter, mainly due to the effect base induced by the contraction of the economy. activity during the same period of the previous year.

“These results also underline the relative recovery of certain sectors, in particular exporting manufacturing industries, in relation to the continued improvement in demand from the euro area, in addition to the significant recovery in fuel production thanks to the contribution of “Nawara” and “Halk El Menzel” and the gradual re-establishment of the phosphate industry. On the other hand, certain sectors continue to be affected by the health crisis of COVID-19, in particular that of services. “

As for the evolution of prices, the Council noted a stabilization of the inflation rate in September 2021 at around 6.2%, year-on-year, for the second consecutive month, against 5.4% in the same month. of the previous year.

The main core inflation indicators also increased slightly to reach + 6% against + 5.9% the previous month for “inflation excluding food and energy” and + 5.4% against + 5.3% for “Inflation excluding controlled products and costs”.

Regarding recent trends in the external sector, the Council underlined the decrease in the current account deficit during the first eight months of 2021, to 3.5% of GDP against 4.8% a year earlier.

This result is mainly explained by the continued consolidation of labor income (+ 42.8%) with a relative improvement in tourism receipts (+ 5.2%), while the trade deficit (FOB-CIF) s’ is dug by 13.7% in line with the evolution of imports. .

As for the net external capital flows, they recorded a sharp drop due to the drop in the volume of external resources mobilized, in addition to the increase in expenditure on the repayment of the principal of the debt. In view of these developments, net foreign currency assets fell to 20,962 MTD, i.e. 127 days of importation at the end of September 2021 against 23,099 MTD and 162 days of importation at the end of 2020.


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Cherokee Nation Financial Resources Office

Janees Taylor began as Cherokee Nation Treasurer in 2021 after Chief Hoskin appointed her and she was unanimously confirmed by the Tribal Council.

Taylor received an accounting degree from Northeastern State University in Tahlequah. She then passed the CPA exam and began a career in the private sector. In 2013, Janees was elected to the Cherokee Nation Tribal Council where she represented the Cherokees in the southern counties of Rogers and Mayes for 2 terms.

Within the Tribal Council, Janees chaired the Executive and Finance Committee, working closely with the Cherokee Nation Financial Resources Office and the Chief Financial Officer of Cherokee Nation Business, monitoring the Tribe’s financial situation and leading budget hearings. annuals. She was also secretary of the Tribal Council from 2018 to 2021.

Taylor served on Chief Hoskin’s Special Commission for the Protection of the Sovereignty of the Cherokee Nation, established to prepare the Cherokee Nation for the historic changes resulting from the United States Supreme Court ruling in McGirt.

During his tenure on the Tribal Council, Taylor served as an advisory member of the Board of Commissioners of the Cherokee Nation Housing Authority, served on the Board of Trustees of the Claremore Indian Hospital and was one of the representatives of the Cherokee Nation in Intertribal Council of the Five Civilized Tribes.

Treasurer Taylor oversees the Cherokee Nation’s $ 3.4 billion budget and manages the 100 financial and related services employees.

Taylor is a mother of two daughters and lives in Pryor, OK with her husband Brent.


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President Al-Sisi calls for increased financial resources of Tahya Misr Fund to serve more citizens

Egyptian President Abdel Fattah Al-Sisi said on Sunday the need to increase the financial resources of the Tahya Misr Fund to reach more citizens.

Al-Sisi’s remarks came during his participation in the celebration of the Doors of Charity (Abwab Al-Kheir) in the new administrative capital, which aims to raise the standard of living of around 5 million citizens.

He said: “We have sought to raise EGP 100 billion through the TahyaMisr Fund, to provide more services to Egyptian citizens, but we are not there yet.”

He said that there is coordination between state agencies and civil society to organize charitable work in Egypt.

The president called on businessmen and civil society institutions to contribute more to social protection initiatives in order to improve the standard of living of citizens.

He said there was a proposal from the Tahya Misr Fund to prepare projects for small farmers and replace or renew old cars.

He also ordered to increase the number of beneficiaries of the Tahya Misr Fund.

Meanwhile, he explained that the state is working to achieve the highest vaccination rates against the coronavirus (COVID-19) in order to achieve herd immunity as soon as possible.

He urged citizens to follow precautionary measures to curb the spread of the novel coronavirus during wave four, calling on the government to quickly end the vaccination of students, teachers and state officials.

The Abwab Al-Kheir is carried out in coordination between the governmental and non-governmental sectors and civil society organizations, according to presidential spokesman Bassam Rady.

The ceremony is part of the state’s efforts to provide social protection to marginalized categories and improve the living conditions of citizens.

During the celebration, Al-Sisi inspected the largest humanitarian convoy supporting one million families across the country.

The convoy is organized by the Tahya Misr Fund in cooperation with the Ministry of Social Solidarity and coincides with the International Day of Charity, which falls on September 5, Radysaid.

The International Day of Charity was officially recognized by the United Nations General Assembly in 2012 with the aim of commemorating the anniversary of the death of Mother Teresa of Calcutta, who received the Nobel Peace Prize in 1979.

The date was set with the aim of raising awareness and mobilizing people, NGOs and stakeholders around the world to help others through volunteer and philanthropic activities.

Prime Minister Mostafa Madbouly, a number of ministers and senior state officials attended the ceremony.

During the ceremony, Madbouly said that “today we are witnessing a new start for the charitable work launched by this celebration, which we have called Charity Doors, doors that we are opening together to launch the largest convoy of humanitarian aid to reach around five million deserving citizens, at an estimated cost of around EGP £ 650 million.

The Prime Minister added: “In addition to the humanitarian aid convoy which is being launched, we are opening other doors of charitable work for love, mercy, care, compassion, self-denial and other noble and benevolent sentiments. Then, let’s walk through our doors to help others on the outside.

“To ensure the sustainability of the tributaries of charitable work, we must face at least two main challenges. The first is to anchor charitable work in the hearts and minds of future generations. Then we have to teach and train our children to be charitable, giving them a good example, ”he explained.

Madbouly said: “We also need to train our children to be empathetic because this is the essence of charity work and its main driver, and we involve them in charity work.”




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PM for the full use of financial resources for higher education

ISLAMABAD – Prime Minister Imran Khan on Wednesday called for a system to ensure full use of financial resources provided by the federal government for the promotion of standard higher education in universities.

The Prime Minister also called for the introduction of a “system of rewards and sanctions” with regard to the education system and universities, so that government policies for the promotion of higher education can be effectively ensured. The Prime Minister chaired a meeting to discuss issues relating to the promotion of higher education in the country. The meeting was attended by Minister of Education Shafqat Mahmood, Minister of Information and Broadcasting Chaudhry Fawad Hussain, Minister of Planning Asad Umar, Special Assistant to Prime Minister Dr Shahbaz Gill , the vice chairman of the Planning Commission and other senior officials, the media wing of the prime minister’s office said in a statement. Press release. The meeting was informed that during the current fiscal year 2021-22, an amount of Rs42 billion had been allocated for the implementation of 168 projects of the Higher Education Commission. These included 128 ongoing projects worth Rs 29 billion and 40 new projects worth Rs 12 billion.

The Prime Minister ordered the completion of ongoing projects on a priority basis, in addition to reviewing the scholarship program assisted by HEC to ensure the best use of national resources. He also led the promotion of the technical and vocational education system in the country, so that young people can be better equipped with the latest knowledge and training to meet the demands of the modern era and thus enable them to take advantage of the opportunities.


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2nd National E-Conclave Productive use of financial resources “Roadmap for economic recovery”

2nd National E-Conclave Productive use of financial resources “Roadmap for economic recovery”

The 2nd national E-Conclave for the productive use of financial resources “Roadmap for the economic rebound” will be organized by ASSOCHAM on July 29, 2021 in virtual format.

Objective of the E-Conclave:

  • The digital revolution that was invading us has now accelerated several times. Companies like FMCG – unlikely beneficiaries of this revolution – have also learned to adapt and use this technology to serve their customers. It represents a microcosm of India’s entrepreneurial energy – from industrial equipment to capital goods – each industry adapts to conserve resources, stay relevant and grow.

  • Creating an enabling environment where businesses can thrive is a primary goal of governments. The maximization of the potential created by a benevolent government, the duty of companies in this economy.

  • To achieve this, we need a constant dialogue between different stakeholders: government, companies, regulators and others so that our precious resources be it money, talent, favorable political frameworks, etc. are used to maximize the economic output of the country, and therefore, the maximization of general well-being.

Main areas of discussion:

  • Impact of economic stimulation on the growth of the financial sector.

  • Role of the financial institution to revive the economy (Banks, NBFC, IBC, ARC, DFI, Insurance, MFI, Infrastructure financing, Bond market and others).

  • Sustainable financing.

  • Power Pack Privatization and India’s Competitiveness.

  • Recent announcement from RBI (On-Tap Liquidity Window, LTRO & TLTRO for target segment, reopening of a one-time restructuring).

  • New standards for digital lending and InsureTech.

  • Commercial MSMEs.

  • Rural bank.

  • Future marketing strategies

Target audience:

For further details, please contact:

Event name: 2nd National E-Conclave Productive use of financial resources “Roadmap for economic recovery”
Website: https://www.assocham.org/
Dated:
July 29, 2021

ASSOCHAM

Address: 4th floor, YMCA Cultural Center and Library,
01 Jai Singh Road, New Delhi
Mobile: 8447365357
E-mail: [email protected]


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Eyeing cooperatives to tap into financial resources: The Tribune India

Parsa Venkateshwar Rao Jr

Senior journalist

A day before the July 6 cabinet reshuffle, the Cabinet Secretariat announced in a press release: Cooperation).

And he went on to elaborate the implicit vision of the measure: “In our country, an economic development model based on cooperation is very relevant where each member works with a sense of responsibility. And the press release ends by saying, “The central government has demonstrated its deep commitment to a community development partnership. The creation of a separate Ministry of Cooperation also responds to the budget announcement made by the Minister of Finance.

Returning to the budget speech of Minister of Finance Nirmala Sitharaman, we find in paragraph 94, in the section under the heading “Government financial reforms”, the statement of intent: “The government undertakes to develop multi-state cooperatives and will give them all the support. To further streamline the “ease of doing business” for co-ops, I propose to set up a separate administrative structure for them. The government has therefore been pondering this issue for some time. He wants to exploit the cooperatives.

So there are two aspects to this ministry. It is an economic ministry. It treats cooperatives like banks, mainly in the agricultural sector. There are also urban cooperative banks, but the sector is rooted in agriculture. The main reason for the creation of the National Bank for Agriculture and Rural Development (NABARD) in 1981 was to provide financial support to cooperatives. It is interesting to note that the Reserve Bank of India (RBI) has placed the cooperative banks under its responsibility, to supervise their operation. The Ministry of Cooperation is somewhat similar to the Ministry of Corporate Affairs, which is linked to the functioning of the Ministry of Finance. The basis of cooperatives in the country is the large number of cooperative banks spread across the country. The Multistate Cooperative Societies Act (MSCS) was enacted in 2002. There are 20 multistate cooperative societies under the Ministry of Agriculture and Farmer Welfare, as well as the 1,469 cooperative societies in various states, with Maharashtra leading the way with 567 of them, followed by 147 in Telangana and 133 in Delhi, and just four in Uttar Pradesh.

The range of registered cooperative societies is reflected in the list of those registered before 1986. They include Boots Employees Cooperative Credit Society Limited, Canara Bank Officers Cooperative Thrift and Credit Society Limited. There is another list of 1,296 Multi-State Cooperative Societies and Banks, which includes the Multi-State Cooperative Society for the Development of Entrepreneurs from Farm to Foreign Exports, which operates in Andhra Pradesh and Telangana and has been registered January 16, 2020.

There is then a vast network of cooperatives spread across the country, which seems to reflect the underlying philosophy of cooperation as articulated by the 19th century British entrepreneur and visionary Robert Owen, and which is now known as of Owenite socialism. It should be noted that the actors of cooperatives are different from the shareholders of a financial institution. Cooperatives raise capital, generate profits and are used by stakeholders. It is intended for internal circulation and consumption. It is indeed a taboo in free market enterprise where shareholders seek the benefits of business transactions, and they can never use the resources for their personal needs.

So what would the Modi government want to do with cooperatives, large and small? Does he want to integrate them into the Atmanirbhar plan and articulate it with the various programs such as Startup India, Make in India, Skill India et al? The government may want to rationalize these many small units, merge them into larger businesses, and turn them into real financial resources for new businesses. There is the felt need that the financial infrastructure in India is inadequate, that the formal banking is not able to meet the challenge of financial inclusion. Banks and cooperative societies can then be put into operation to fill the gaping holes. Cooperatives are then an untapped financial resource in terms of funds to be raised and the ready-to-use institutional framework of a bank. It is interesting that the Modi government woke up to the prospect of using the cooperative network to solve some of the financial infrastructure problems.

In doing so, the government could kill the spirit of cooperatives, the idea of ​​self-help and the pooling of resources in a small group. The philosophy of cooperatives is that small is beautiful. If it becomes big, like too big to fail, then it ceases to be a cooperative. Another essential aspect of cooperatives is autonomy, and it is the autonomy of a group of people who live in a community or share the common interests of a community. Members of a cooperative should not be reduced to the status of anonymous shareholder of a large corporation. The idea behind a cooperative is idealistic, something intimate and harmonious.

The characteristic that the Modi government has shown over the past seven years has been to dream big, to do big things big, the very antithesis of what a cooperative is.

Instead of encouraging more cooperatives to emerge and thrive, where the model is that of a kibbutz, of life and values ​​shared at the interpersonal level, the government could end up transforming the cooperatives into something like micro, small and medium-sized enterprises (MSME).

Co-operatives are not a small business. It is a worldview of cohesive local communities, something that is needed as a social balm for a society that still lives in the shadow of gargantuan, national and multinational corporations. The cooperative is an antidote to lost capitalism. It offers an alternative worldview, which many may consider utopian. But he respects the utopian spirit. Prime Minister Modi, it seems, is keen to transform cooperatives into capitalist enterprises, where ruthless competition is the leitmotif.


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Financial resources

Eyeing co-ops to harness financial resources: The Tribune India

Parsa Venkateshwar Rao Jr

Senior journalist

A day before the July 6 cabinet reshuffle, the Cabinet Secretariat announced in a press release: Cooperation).

And he went on to elaborate the implicit vision of the measure: “In our country, an economic development model based on cooperation is very relevant where each member works with a sense of responsibility. And the press release ends by saying, “The central government has demonstrated its deep commitment to a community development partnership. The creation of a separate Ministry of Cooperation also responds to the budget announcement made by the Minister of Finance.

Returning to the budget speech of Minister of Finance Nirmala Sitharaman, we find in paragraph 94, in the section under the heading “Government financial reforms”, the statement of intent: “The government undertakes to develop multi-state cooperatives and will give them all the support. To further streamline the “ease of doing business” for co-ops, I propose to set up a separate administrative structure for them. The government has therefore been pondering this issue for some time. He wants to exploit the cooperatives.

So there are two aspects to this ministry. It is an economic ministry. It treats cooperatives like banks, mainly in the agricultural sector. There are also urban cooperative banks, but the sector is rooted in agriculture. The main reason for the creation of the National Bank for Agriculture and Rural Development (NABARD) in 1981 was to provide financial support to cooperatives. It is interesting to note that the Reserve Bank of India (RBI) has placed the cooperative banks under its responsibility, to supervise their operation. The Ministry of Cooperation is in some ways similar to the Ministry of Corporate Affairs, which is linked to the functioning of the Ministry of Finance. The basis of cooperatives in the country is the large number of cooperative banks spread across the country. The Multistate Cooperative Societies Act (MSCS) was enacted in 2002. There are 20 multistate cooperative societies under the Ministry of Agriculture and Farmer Welfare, as well as the 1,469 cooperative societies in various states, with Maharashtra leading the way with 567 of them, followed by 147 in Telangana and 133 in Delhi, and just four in Uttar Pradesh.

The range of registered cooperative societies is reflected in the list of those registered before 1986. They include Boots Employees Cooperative Credit Society Limited, Canara Bank Officers Cooperative Thrift and Credit Society Limited. There is another list of 1,296 Multi-State Cooperative Societies and Banks, which includes the Multi-State Cooperative Society for the Development of Entrepreneurs from Farm to Foreign Exports, which operates in Andhra Pradesh and Telangana and has been registered January 16, 2020.

There is then a vast network of cooperatives spread across the country, which seems to reflect the underlying philosophy of cooperation as articulated by the 19th century British entrepreneur and visionary Robert Owen, and which is now known as of Owenite socialism. It should be noted that the actors of cooperatives are different from the shareholders of a financial institution. Cooperatives raise capital, generate profits and are used by stakeholders. It is intended for internal circulation and consumption. It is indeed a taboo in free market enterprise where shareholders seek the benefits of business transactions, and they can never use the resources for their personal needs.

So what would the Modi government want to do with cooperatives, large and small? Does he want to integrate them into the Atmanirbhar plan and articulate it with the various programs such as Startup India, Make in India, Skill India et al? The government may want to rationalize these many small units, merge them into larger businesses, and turn them into real financial resources for new businesses. There is the felt need that the financial infrastructure in India is inadequate, that the formal banking is not able to meet the challenge of financial inclusion. Banks and cooperative societies can then be put into operation to fill the gaping holes. Cooperatives are then an untapped financial resource in terms of funds to be raised and the ready-to-use institutional framework of a bank. It is interesting that the Modi government woke up to the prospect of using the cooperative network to solve some of the financial infrastructure problems.

In doing so, the government could kill the spirit of cooperatives, the idea of ​​self-help and the pooling of resources in a small group. The philosophy of cooperatives is that small is beautiful. If it becomes big, like too big to fail, then it ceases to be a cooperative. Another essential aspect of cooperatives is autonomy, and it is the autonomy of a group of people who live in a community or share the common interests of a community. Members of a cooperative should not be reduced to the status of anonymous shareholder of a large corporation. The idea behind a cooperative is idealistic, something intimate and harmonious.

The characteristic that the Modi government has shown over the past seven years has been to dream big, to do big things big, the very antithesis of what a cooperative is.

Instead of encouraging more cooperatives to emerge and thrive, where the model is that of a kibbutz, of life and values ​​shared at the interpersonal level, the government could end up transforming the cooperatives into something like micro, small and medium-sized enterprises (MSME).

Co-operatives are not a small business. It is a worldview of cohesive local communities, something that is needed as a social balm for a society that still lives in the shadow of gargantuan, national and multinational corporations. The cooperative is an antidote to lost capitalism. It offers an alternative worldview, which many may consider utopian. But he respects the utopian spirit. Prime Minister Modi, it seems, is keen to transform cooperatives into capitalist enterprises, where ruthless competition is the leitmotif.


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Trans Financial Resources Net Income Grows 22.71% in March 2021 Quarter

Sales declared void

Trans Financial Resources’ net profit increased 22.71% to Rs 3.89 crore in the quarter ended March 2021 from Rs 3.17 crore in the previous quarter ended March 2020. No sales were made. ‘was reported in the quarter ended March 2021 compared to Rs 1.12 crore in the previous quarter ended March 2020.

For the full year net profit increased 30.04% to Rs 3.68 crore in the fiscal year ended March 2021 from Rs 2.83 crore in the fiscal year precedent closed in March 2020. No sales were reported during the fiscal year ended March 2021 compared to Rs 3.83 crore in the previous year ended in March 2020.

DetailsQuarter endedYear endedMarch 2021march 2020% Var.March 2021march 2020% Var.Sales01.12 -100 03.83 -100 % OPM0-1.79 0-5.22 PBDT3.963.24 22 3,923.07 28 PBT3,913.19 23 3,702.85 30 NP3,893.17 23 3.682.83 30

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First published: Thu 01 July 2021. 16:29 IST


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Bunge advises the government on how to increase its financial resources

By The Citizen Reporter

Dar es Salaam. Parliament yesterday asked the government to take several measures in order to increase its budget and development spending.

Debating the government’s budget of 36 trillion shillings for the 2021/22 fiscal year, the chairman of the parliamentary budget committee, Mr Sillo Baran, said a critical analysis of the budget figures reveals that this is only is that a small percentage of domestic funds that go to finance development projects.

Of the 36.33 billion shillings, Mr Baran said, 23 billion shillings is for recurrent expenditure while the remaining 13.33 billion shillings is for development projects.

“The data shows that of all domestic funds, only 3.3 trillion shillings remain to finance the development project, while most of the money raised locally is spent on recurrent expenses. This means that our locally sourced funds can only finance 8.3% of the entire development budget, ”he said, asking the government to strengthen its mechanism for monitoring and managing revenues and seek more grants and concessional loans from development partners.

He said the government should also find a way to reduce borrowing from local sources so that lenders can channel the money to the private sector to boost production and economic growth.

In an effort to reduce revenue losses due to tax evasion, the committee called on the government to expand the deployment of electronic tax stamps (ETS) to more products.

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Mr Baran said the ETS is good because it allows the government to use modern technology to get timely (real-time) production data from manufacturers.

The move helps the government limit revenue leakage – and also determine in advance the amount of taxes to be paid in the form of excise duty, value added tax and income tax.

“… .It helps the government identify genuine products and fake ones. It removes the possibility of cheating [on the right amount of tax to be paid] by dishonest businessmen… ”he said, noting, however, that the only challenge with the system was the high costs associated with stamps.

He said that with the benefits, the government was advising the government to see a possibility of extending the ETS to other products like cement, edible oil and sheet metal.

“This committee also advises the government to sit down with the contractor and find a way to revise the rates. The government must also put in place a strategy that will allow the system to remain in use when the current contract with the contractor expires, ”he said.

In Tanzania, the government announced its intention to adopt the Electronic Tax Stamp (ETS) system in June 2018 and the first phase was conducted on January 15, 2019, during which stamps were installed on 19 companies that produce alcohol, wine and spirits.

Phase two of the project was rolled out on August 1, 2019 when ETS were stamped on sweetened flavored water and other non-alcoholic beverages, such as energy and malt drinks and sodas.

The third phase, which consisted in registering electronic stamps on fruit juices (including grape must), vegetable juices (item 20.09), bottled drinking water, was carried out on November 1, 2020.

Regarding the government’s proposal to collect property tax by paying electricity bills, the committee said the move would penalize even tenants and the elderly who are exempt from paying property tax.

It would also mean that people in rural areas will also pay property taxes, contrary to the law.

A Member of Parliament (MPs) called on the government to, if not critically analyzed, property tax could end up being a thorn in the side of Tanzanians.

“Charging it through the electricity billing system will increase government revenue, but it will lead to public outcry,” said Charles Mwijage (Muleba Nord – CCM).


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Best Financial Resources and Tips for New York Businesses in 2021

Managing a business’s finances is not very convenient, especially for small business owners. Regardless of their size, companies often succeed because of their skills, their products and the services they provide to their customers.

However, if you are unfamiliar with financial management, it can seem like a chore and you could slip into inadequate financial habits that could one day ruin your business.

In addition, entrepreneurs can take advantage of the privilege of mobile applications for accounting, record keeping, news and updates. Experienced and reputable agencies offer personalized services development of mobile applications in New York like 9series, known for its industry-leading enterprise financial management solutions through Android and iOS apps. The app helps you make things faster and easily accessible at all times.

Why manage a company’s finances?

One of the most vital steps for any entrepreneur is to train and develop. Know the essential basic skills required to run a successful business such as financial statement writing, normal accounting tasks, loan application.

All of these help business owners avoid failure and create a sustainable financial future. Moreover, improving skills also helps them manage the required components of money management.

Ryan Watson, director and co-founder of Outsourced accountingsaid “There is nothing intensely risky and expensive except coming to your accountant at the end of the year with a box of seven or eight of your last twelve bank receipts and statements. ”

Fortunately, there are many resources and tips that provide strategies and information that help business owners manage their finances throughout the year and beyond typical conditions like today’s pandemic. Below, we’ve outlined the best financial resources and tips for New York businesses.

Best Financial Resources for Businesses in New York:

The Nasdaq offers news and related information, especially for small businesses. The “Small Business” page on the Nasdaq website has a strong association with the market, offering stories on multiple topics such as advice on remote working and PPP loans. It is easy to read, very convenient, and updated once a week. – Dragon Gate Investment, partners of Lijie Zhu

Many small business owners may face liquidity issues. “Time to Act”, a newsletter by Charlie Goodrich, addresses and helps solve the unique issues you face in running your business. It’s a perfect monthly guide to knowing and solving your business financial issues. ULVAC Technologies, Inc, Partners Dave Sackett

You can use DaveRamsey.com to find out how to grow a business; it’s even helps you find out how you can get your business to surplus profits from bankruptcy. Here you will find the best tips for managing your finances. Churchill Mortgage Corporation, Mike Hardwick

James Clear’s “3-2-1 Newsletter” is one of the best financial resources for developing “atomic habits” as a small business owner. You will find one question, two quotes and three little ideas for you in each newsletter. You can ask them yourself during the week. Wendell Charles Financial, Evan Kirkpatrick

  • Main Street Business Podcast

Many experts also suggest using the “Main Street Business Podcast”. Influencers Mat Sorensen and Mark Kohler are entrepreneurs and tax advisers. They are experienced and have a solid background, they offer a lot of insight into current business trends and concepts that business owners should be aware of, but usually don’t. Heritage Investors, Justin Goodbread

Best Financial Tips for New York Businesses:

For a business owner, it is not good to be afraid of loans. The loans you take out to grow your business can be surprising. They can cause stress on the monetary repercussions that accompany disappointment.

But, it is also the fact that without excess capital that you get loans, you can face many challenges while growing your team or purchasing tools for your business.

You can also use loans to increase your cash flow; therefore, you face very little or no problem when paying your employees, suppliers and suppliers on time.

  • Keep good business credit

As the business grows, entrepreneurs may want to acquire additional insurance policies, purchase more commercial properties, and take out loans to make all of these purchases easily. If you don’t have good business credit, it becomes more difficult to get approved for loan transactions.

To maintain your business credit, pay off all your debts on time or as soon as possible. For example, you have to pay your business credit card bills on the due date each month. Do not take back the credits that are not necessary, and you will not be able to repay quickly.

  • Focus on customer acquisition

No one can think of a business without customers. Customers are at the center, so you should always make them your top priority. It will help you grow your business accordingly. Identify acquisition channels and start optimizing costs. Once you’ve successfully scaled them up, you’ll have the decent financial strength to explore more channels.

  • Track and monitor all expenses

Return on investment and expense analysis assists; you know what investments are needed and what you can stop. Deborah Sweeney, CEO of My society, said entrepreneurs need to be careful where they spend their money.

Not doing the same means you have bad or irrelevant spending skills. Always analyze your spending to protect your hard-earned dollars.

It is also good to go with the use of technology. You can visit 9spl.com to create a perfect app to manage your finances easily. It is one of the best and most economical ways to stay financially organized and stable.

Posted on May 28, 2021


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