Tag Archives: Government

Finance

How to Finance Your Government Projects and Contracts

Selling products and services to the US government can be a very profitable enterprise. The US government can be one of the best customers your business can get. They buy almost any product and service that exists. By law, they are structured to help small business owners succeed. And, unlike most commercial customers, they pay their invoices quickly. If you work with government projects you know that you need to treat this customer very well and be sure that you always deliver what you promised – on time and at the right cost.

So, what happens if you bid for a government contract, win it, and realize that you don’t have the capital to deliver? One alternative is to try and go to an institution to get business financing. Many institutions will provide a business loan (or similar financing) to government contractors. But as you know, qualifying for business loans can be very difficult, especially for startups. Institutions will review your business plan, along with your company’s financial statements, management team and track record. Because of this, many startup companies find that obtaining financing can be very challenging.

This problem is particularly challenging for product re-sellers. Most product re-sellers that work with the government need to pay their suppliers before they get paid by the government. Because of this, they can only compete for certain bids since their capital limits the size of the projects that they can pursue. Some resellers are able to negotiate better terms with their suppliers, basically enabling them to wait until the government pays them first.

There are two other alternatives that can help you grow. They are invoice factoring and purchase order financing. Both are alternative sources of financing and can be ideal for government suppliers.

Let’s looks at two examples to see how invoice factoring and purchase order financing can help your company grow. Let’s say that you have a government purchase order that you have completed and will get paid in 30 days. Let’s also say that your supplier needs to be paid in 10 days. The problem could easily be fixed if you could get an advance payment on your government invoice. That is exactly what accounts receivable factoring can do for you. It provides you with an advance on your invoice that enables you to pay your supplier on time. This enables you to maximize the use of your supplier’s payment terms to your advantage, helping you grow your company.

Now let’s look at a more complex problem. Let’s assume that you won a government contract that is substantial and you have a supplier that is demanding an advance payment before shipping the goods. This situation is very common for startups because few of them have any type of supplier credit. In this case, the solution is to use po financing. PO funding helps you pay your supplier so that the government order can be fulfilled. The transaction is then settled once the government receives the goods and pays for them.

Both receivables factoring and po funding are available to both new companies and established companies. Both are relatively easy to obtain and can be set up relatively quickly. This makes it an ideal solution for growing companies.

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Banking

Economy, Government, and Offshore Banking in Belize

Formerly known as British Honduras, Belize is a Central American country bordered by Mexico to the north, with the Caribbean on its eastern side and Guatemala located on its southern and western sides. Belize covers 8,867 square miles (22,960 km²) of territory, with Belmopan as its capital.

Belize society is comprised of many diverse cultures, speaking many languages. Belize is the only Central American country to have English as its official language. Many of its citizens also speak Kriol and Spanish.

With an economy based on the exportation of sugar, citrus fruits, bananas, sugar, timber, fish,seafood and other seafood products, it comes as no surprise that the majority of Belize’s more 320,000 people survive on a low per capita GDP of $ 7881(est. 2008).

Belize’s countryside mixes its heritage founded on the ancient Mayan culture, with jungles, waterfalls, rivers, caves and mountains, which has brought it to the worlds attention as a eco-friendly tourist destination. It has the world’s only jaguar preserve, along with other attractions like marine resorts, wildlife sanctuaries and forest reserves.

There has been a significant increase in Belize’s banking and financial services industry in recent years. Offshore banking and privatized banking has become a highly profitable asset here.

Adding liberal trade programs and increasing its access to outside markets has help the country to plan a strategy that will increase the demand for its offshore investment services.

Belize’s telecommunications infrastructure is comprehensive. The country also has direct flights daily to the United States, and international courier services that provide it with connections to anywhere in the world. It is easy to reach, easy to communicate in, and easy to open an offshore bank account.

The Belize Court system is based on the English system of Common Law supplemented with local legislation. The court of final appeal on questions of law is the Privy Council of the House of Lords in England.

Queen Elizabeth II is the chief of state, represented by the Governor General. The Head of State is the Prime Minister, who is appointed by the Governor General and also serves as the leader of the majority party. He in turn appoints the Deputy Prime Minister.

National Assembly consists of 2 branches. There is the Senate with its eight members, five appointed on the advice of the prime minister, two on the advice of the leader of the opposition, and one by the governor general. Members of the Senate are appointed for five-year terms. The 29 members of the House of Representatives are elected by direct popular vote and serve 5 year terms.

For any business in a hurry to move to Belize as an offshore tax haven, should consider the fact that the country has made it possible to become incorporated in 1-3 days. This is a good indication of how “business friendly” Belize really is.

Englishman Peter Macfarlane is an author and lecturer on offshore finance, investment, due diligence and wealth creation matters. After fifteen years advising high net worth clients on offshore asset protection structures such as companies, trusts and private interest foundations, he decided on a career change and now mentors individuals who are interested in creating, preserving and growing wealth in a secure offshore environment. Peter defines wealth in the broadest sense, believing that money is worthless if you don’t have health and happiness. He is now joint editor of The Q Wealth Report, a publication dedicated to publishing freedom, wealth and privacy information for a select audience. He offers a free sample copy to readers of ezineseeker. You can visit The Q Wealth Report to get a deeper understanding of private offshore banking.

Finance

Home finance plan needs stimulation from the government

Since the banks , governments and house builders are yet to agree with the terms and conditions of the housing scheme to be launched soon, the government has recently initiated a stimulating programme for the housing market by underwriting 95 percent mortgages. Back in the autumn, the new buys scheme was introduced to persuade the first-time buyers and stimulate industry and the economy into the market.

Banks like HSBC, Lloyds and Barclays have already agreed with the scheme in support; and although there have been issues like regulatory hurdles, IT problems and serious budgetary reservations are yet to be sorted out, it is believed that the new buys scheme is being hastily put forward within the budget timeline. According to the close sources, the scheme would not be launched as the mortgages would not be ready by the proposed date of the launch. Though, the government may announce the launch, but it will take its own course of time due to the questionable guarantee of the products.

As per the scheme, the lenders would offer 95 percent mortgages on newly built houses without taking on all the risks; and in case the property fell into negative equity, the banks would be relieved with the first 10 per cent of losses including the developers’ contribution 3.5 percent and taxpayers’ 5.5 percent of the property’s value. But due to the difference in plan over the price that banks have decided to charge for the 95 percent loan to value, Lenders are prepared to charge 5 percent or more, whereas house builders have planned to charge less than that. The scheme has come under complete risk and the loans sounding very unattractive.

According to the privately held house builder Stephen Stone, chief executive at Crest Nicholson, the scheme is going to be very attractive and they are accessing what rate can be offered to the buyers. And further added that the Newbuy admits that there is complexity with the scheme so it would operate through a Guernsey-based insurance company, JLT, owned on behalf of the participants by the Home Builders Federation, a trade body. And as per another internal source from the federation, the government requires clearance under state aid rules, approval from the Financial Services Authority, the financial regulator; and finalizes Tax implications with the Revenue & Customs. Need quick financial help apply with quick payday loans and get quick funds without any hassle.

Alastair Stewart, an analyst at Collins Stewart, presented a report entitled “The MIG (mortgage indemnity guarantee) Won’t Fly”, and conveyed his uncertainty about the probable success of this scheme. He also emphasized that government efforts like organized PR unity among house builders, the government’s mortgage indemnity guarantee scheme aimed at stimulating the housing market may not fit up to the expectations of the customers. However, the government is expected to move with the launch and make an announcement shortly, at the same time, the Home Builders Federation also expressed its commitment to roll it out and wish to participate.

Jack Paul is expert financial adviser. He writes articles on quick payday loans @ http://www.quickcashpaydayloansuk.co.uk/ , www.poundstopocket.co.uk and www.paydaytext.co.uk

Banking

Government Banking Jobs- SBI Recruitment system

It is very much true that Government Banking jobs are quite luring, advantageous, and offers a successful career ahead. State Bank of India is one of the most appreciable and beneficial government banks around the country. Every individual wants to get placed in this bank. It brings so many vacancies annually with certain eligibility criteria, which is needed for SBI recruitment for wide number of posts. Nothing is impossible, you just need to work hard and put in efforts to get recruited in bank government jobs, especially in SBI. The desiring candidates can apply for it by filling the application online or by posting it to the head office.

The applications are invited from true and eligible Indian candidates for the positions such as Probationary officers and clerks in Associate banks. If you wish to get into this field, you will have to up date your self about the SBI job alerts. The alerts will regularly notify the candidates in case the banks are taking up new applications. The bank announces the registration dates for various posts properly on time. The emoluments and the announcements are released on the official website. It is not just about SBI, but several other government banks around the nation.

Moreover, State Bank of India provides hundreds and thousands of vacancies in the line of the Bank PO. This selection has its own method and criteria to be followed. If you want to apply for the PO post, it is necessary for you not to be below 21 years of age or above 30 tears of age. Moreover, the academic qualification required is to be a graduate in any discipline from well renowned university or college. SC/ST/PWD candidates will definitely receive some fee concession. The selection procedure includes three phases that are the written examination phase, group discussion & interview and final selection phase.

The first, written examination phase includes English language tests, computers, data analysis, interpretation, general awareness, general marketing, and reasoning test. Moreover, this written test includes the objective type questions. Keep one thing in mind that there is a negative marking. The candidates who are selected in this phase are called for the second phase. After clearing the interview and group discussion, they will reach the final stage. The evaluation of the marks obtained in the two phases is carried out. The candidates with 40% marks in average will be chosen. For the SC/ST/PWD/Ex-Servicemen, it should be 35%.

Now, we should talk about the eligibility criteria for SBI recruitment clerical posts. The applicant needs to be at least 10+2 pass or any other equivalent qualification. The minimum percentage is 60% for general people and 55% for SC/ST/PWD/Ex-Servicemen. Another option is that if you have passed diploma course after 10th standard having similar percentage, make it sure that the diploma course is full time. It also should be approved by state bank of technical education from well known university with 40% marks for general people and 35% for SC/ST/PWD/Ex-Servicemen. Take proper coaching and apply for the desired posts.

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