Business Management,Finance &Tax

Business success typically requires hard-work, commitment and dedication. However, there are a couple of secrets, the knowledge of which can help significantly drive business success. Jumia Travel, the leading online travel agency, shares best-kept secrets of business success. 1.Have a Worst-to-Best Scale The best way to avoid bad business decisions is to first recognize them, and one of the best ways to do this is by evaluating your business on a worst-to-best scale. Once you are able to recognize bad business decisions, it will be easier to eschew them, then identify the best options for your business and pursue them, which can significantly help to drive business success. 2.Create Visual Reminders of Long-Term Goals When trying to achieve business success, it’s easy to get ‘caught up in the daily grind’ and do things that are familiar, rather than things required for growth and profitability. Having visual reminders of your long-term goals can really help to create ‘...

Total Tax Revenue  The United States raises less tax revenue as a percentage of gross domestic product (GDP) than most other countries in the Organization for Economic Co-operation and Development (OECD). In 2003, taxes in the United States, including all levels of government, amounted to 25.6 percent of GDP, compared with 33.9 percent for other countries in the Group of 7 (G7) and 34.7 percent for non-G7 OECD countries. The United States raises more personal income tax and property tax as a share of GDP than other OECD countries, but less corporate income tax, Social Security contributions, and taxes on goods and services.         US taxes are low relative to those in other developed countries. In 2014, US taxes at all levels of government represented 26 percent of GDP, compared with an average of 34 percent of GDP for the 34 member countries of the Organisation for Economic Co-operation and Development (OECD).  Among OECD countri...

One fundamental question plagues countless small businesses: How to grow and keep the business going. Maybe you're not gaining enough customer traction, or maybe you've hit a wall and sales are flat. In any case, the plan just doesn't seem to be working, at least not as you hoped it would. I'm willing to bet that you've tried, are trying, or are willing to try all sorts of incremental strategies to solve the problem. But more often than not, they're not going to work. Why not? Well, you're probably not a business expert. Don't feel too badly about that; few business owners are. They start companies because the opportunity arises, they're subject matter experts, or they're passionate about doing something. In any case, they probably don't know a whole lot about what it takes to achieve sustainable growth. The way to do that isn't rocket science, but the funny thing is this: Every time I explain it to a CEO or business owner, they...

These secrets will keep your business sustainable for decades. But, answer these first.Will your business still be sustainable (active) in the next five to ten years? If you've sold your products to everyone you could reach, what will happen to your business? If you don't have concrete answers to these questions, it's time you review your sustainability model. Or create one, if you don't have. The major drawback of many technology businesses is a vague view of sustainability. Many companies are too satisfied with immediate returns on their one-off projects, that they fail to see the continuous drop in their audience. Your products will soon saturate the market. What will you do by then? I've highlighted three methods global brands like Google, IBM, Microsoft, Facebook and web-based software employ to remain relevant. 1. REPEAT BUYING The first one is repeat buying. We often call this up-selling and cross-selling No matter how vast your ...

The current global development framework and the UN Sustainable Development Goals (SDGs) charges each country with the primary responsibility for its “own economic and social development”, and accordingly emphasizes the crucial role of domestic resource mobilization for financing the implementation of the SDGs. Ghana’s attainment (in 2010) of a lower middle-income country status has resulted in significant reductions in donor inflows and opportunities for concessional borrowing. Between 2010 and 2014, average gross ODA to Ghana amounted to US$ 1.43 billion per year, compared to US$ 2.58 billion between 2005 and 2009. This declining trend becomes even more apparent considering that net ODA to Ghana as percentage of Gross National Income (GNI), fell from 16.34% in 2004 to 2.18% in 2013. This means that implementation of Ghana’s development goals will require innovative means of sustainable revenue generation and financing. The question of what has to be done differently is thus an ...

                Finding ways to satisfy your clients is the most important thing to do. This can only be a reality when good relationships are established. It will promote and facilitate easy interaction for smooth business operations that will be rewarding in both customer satisfaction and shareholders’ wealth in dividends and or in profits. Trying to improve and keeping a good relationship with customers will preserve your business in these days of competition. Remember industry players all try to      Trying to improve and keeping a good relationship with customers will preserve your business in these days of competition. Remember industry players all try to outdo or out-perform one another in order to catch the attention of potential clients. Clients being the backbone of every enterprise, need to be attracted to products and services for sales and revenues. They also need to be retained to ensu...

Small businesses and the economy generally, can realise significant benefits by embracing mobile and internet technologies to transform their operations. The digital transformation of business and society presents enormous growth potential for businesses. Industry can build on its strengths in advanced digital technologies and its strong presence in traditional sectors to seize the range of opportunities that technologies such as the Internet of Things, big data, advanced manufacturing, robotics, 3D printing, block chain technologies and artificial intelligence offer. This will enable industry to capture a share in the emerging markets for the products and services of the future.   Digital transformation is characterized by a fusion of advanced technologies and the integration of physical and digital systems, the predominance of innovative business models and new processes, and the creation of smart products and services.      Currently, busi...