Category: Small Business

Offshoring is a terminology that has been around since the 1970s; however, it gained widespread popularity as time moved forward. This is because offshoring gained strategic importance, especially in the case of tech startups. Following are some of the most prominent benefits offered by offshore in IT:

• Access to a broader talent pool
• Faster go-to-market
• Flexibility to extend the runway
• Round-the clock operations
• Cost-effectiveness.

What is offshoring?

Offshoring may require setting up additional offices in another country, hiring an offshore software development company, or simply hiring an expert at a foreign location. It is usually done with the intention of building a highly specialized & dedicated team. The term offshoring may be classified into three broad categories – outsourcing, ODCs/GDCs, and freelancing. Now, let us dive deep into each of these models to help you choose the one that suits you the best.

Outsourcing

Outsourcing refers to a company availing … Read the rest

IPSE (the Association of Independent Professionals and the Self-Employed) has said that the changes to IR35 self-employed taxation coming into effect today are undermining the sector at the “worst possible time”.

IPSE research has shown that half of freelancers are planning to stop contracting in the UK after the changes – unless they can get contracts unaffected by them. Instead, they are planning to seek contracts abroad, stop working altogether, seek an employed role or retire within the next year.

Clients seem to be reacting badly to the changes too: nearly one in four contractors said in February that their clients were either uncertain or had made no indication of what they would do in response to the IR35 changes.

Meanwhile, a quarter said that their clients were planning to blanket-assess all their contractors as ‘inside IR35’ and one fifth will only engage contractors working through umbrella companies. Nearly one … Read the rest

When it comes to increasing revenue and building a loyal customer base, loyalty programs are proven more effective. However, as most loyalty programs either take the route of redeemed points, social media, or paid campaigns, this space has seen nothing new in the past decade.

That is why brands and businesses these days are searching for innovative ways to inspire customer loyalty. And Live Animations, a leading developer of innovative loyalty programs based on advanced AR technology have been helping large retailers and kids and family brands achieve smoothly achieve their goals.

The company’s remarkable work reflects in the rewards and reclaims. The company for its work has been recognized on Clutch with the highest 5-star ratings. Live Animations also entered the list of the Top Virtual Reality and Augmented Reality Developers in the world.

In 2018, four AR books, created by Live Animations and Little Hippo publishing company, … Read the rest

A record amount of new warehouse space is due to be built in Britain this year as developers respond to rising demand for storage from online retailers.

Research by Knight Frank, the property consultancy, found that 40 million sq ft of new space is due to be built this year, double the amount completed last year. Much of the new space has already been leased to retailers and distribution companies ordering purpose-built properties.

Online sales rose £34 billion year-on-year last year and are expected to exceed £150 billion by 2024. Every billion pounds of online sales requires about 1.4 million sq ft of warehouse space, according to Knight Frank.

Charles Binks, head of industrial and logistics at the consultancy, said: “The robust forecast for online retail and increased competition for high-specification and well-located assets is driving development activity. Take-up over the past year has reduced the level of availability and … Read the rest

Today, the world of business is no longer restricted to men, and there are more successful women than ever. Still, even though it is easier for women to enter the industry, it’s often more challenging than for men. Understanding these tips can help you become more successful at what you do.

Ensure You Have Enough Capital

If your dream is to own a company, one of the first things to check is that you have enough funds to get your organization going. From salaries to equipment to licenses, initial startup costs can be high. You might consider getting your personal finances in order, so you have something to invest in the company. If you don’t have one already, now is the time to create a budget. You’ll also want to look for areas to reduce your monthly expenses. So, if you are carrying debt from school, you might want to … Read the rest

A leading accountancy firm is hoping to combat “Zoom fatigue” among its staff by testing a “rainbow meeting system” that will colour-code calls that can be taken during an outdoor walk and those where staff need to be on screen.

KPMG said that it would pilot the system to encourage employees to take regular breaks and avoid back-to-back virtual meetings.

Bosses of professional services firms are becoming concerned about staff burnout as employees complain about the impact of long hours tied to their desks at home. Junior consultants have warned bosses that they are suffering from overwork in areas such as mergers and acquisitions after a record number of private equity deals last year.

A University College London social study tracking 70,000 Britons during the pandemic found that two fifths of people were exercising less compared with the first lockdown and 34 per cent of adults were putting in longer … Read the rest

Virtual private networks or VPNs have come a long way since being introduced to us internet consumers years back. It used to be a means solely for the purpose of browsing anonymously online but now, even businesses can benefit from using a VPN in their daily operations.

Believe it or not, small and big business – as well as corporations, are using VPNs for their day-to-day operations. From a consumer’s perspective, we only see VPNs as a means to access region-locked content as well as a way to stay anonymous online.

For businesses though, VPNs are a way to expand your business effectively at a low charge. It can also be a way to protect your data, as well as the data of your consumers that you are entrusted with.

Picking a VPN for personal use and a VPN for business use needs to be treated differently. For starters, both … Read the rest

After an wave of special purpose acquisition companies, known as Spacs, the tide appears to be turning, with some of the highest-profile examples now under pressure

Spacs — or blank-cheque funds — are shell companies that raise money via initial public offerings before listing on a stock exchange. Then they search for an acquisition, typically a private company. Once a deal is finalised, the Spac takes its target public by absorbing it and its investors take a slice of the new company. If no deal is done, the fund is liquidated and investors are refunded.

Two months ago shares in Sir Richard Branson’s VG Acquisition Corp surged to $17.65 when it announced its merger with 23andme, a genetic testing firm. It has since fallen by 42 per cent to $10.20.

Shares in Churchill Capital Corp IV have halved since its combination with Lucid Motors, an electric carmaker, was announced on … Read the rest

It’s fair to say a lot of the financial reporting is heavily focused on the movers and shakers in Big Tech. That’s understandable when FAAMG (Facebook, Apple, Amazon, Microsoft, Google) companies account for such a hefty slice of the stock market. At one point in 2020, Forbes reported that those five companies represented around 25% of the total value of the S&P 500, and that they accounted before approximately 76% of the S&P 500’s 23% of gains since 2017. In short, financial reporting leans towards FAAMG companies because they have an outsized impact on the market.

However, it’s easy to forget that some big hitters from the traditional business sector should also be considered tech giants. Walmart, in particular, fits this bill. We think of Walmart as the giant brick-and-mortar retailer, but it launched its first eCommerce platform all the way back in 2000, and only Amazon has more unique … Read the rest

More than half of contractors don’t believe their end-client is ready for IR35, despite there being just one week before the deadline.

In its survey of IR35 experts also found that contracting professionals felt they were more ready for the changes themselves, with 73% of respondents stating that they felt prepared or somewhat prepared for the upcoming IR35 reform.

The data did reveal some worrying trends that could impact the availability of contract talent in the immediate future. Overall, 69% of contractors said that if they were deemed inside IR35 they would either leave or charge a higher fee, with just 14% stating that they would accept an inside IR35 decision.

This potential exodus of contractors from talent pools is further exacerbated by the struggles this group have faced over the last year. According to research conducted by specialist insurance broker Kingsbridge, a staggering 70% of contractors have gone without … Read the rest