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Planning for a startup? Here are a few tips and tricks you can follow

Startup businesses have been rising a lot lately, and gaining the world recognition too. But it is facing a lot of challenges as they lack financing. As majority of the money goes to setting up the root aspects of the business and leaves only little to nothing in the end, especially for marketing activities. It is very crucial to create a visibility in this digital era if the business has run successfully, as the startup company will be competing with many established businesses. And thus they might find a way to cut through these highly competitive firms. Since it’s a digital era, the online space has a lot to offer, social presence can take you further in using the potential marketing strategies. There are many free and inexpensive methods to generate traffic to your website and create visibility for the company.

There are few ways, which will show the budget options and could help a startup businesses to flourish. First step is to start by creating visibility with the help of a visibility. Creating a website is the most used method to create avenue and there are two options to choose from while creating website. Start by finding web developers through searching online and chose from the pre coded, themes and templates already available in the online space and customize it to your preferences, instead of spending time and money on coding. This is being realistic about the whole process, basic knowledge definitely is need and there are free courses available too, on learning how to learn the basic coding and website designing. Next, hiring the web developer would be the second option as you might find the website designing challenging. The developers have the knowledge and expertise to help you start of the right foot. They also provide the best advices of the factors which may impact the ranking of the website on the search engines, like page loading speed and ease of navigation etc. Opt for someone who can offer a sufficient bandwidth to manage traffic which will be coming to the website. This is an investment and setting aside some of the budget to hire a designer is feasible.

Next comes the content, creating relevant content has many benefits. It helps mainly with engagements and interactions to the platform. Understanding and targeting the set of audiences is the first thing in content generation and giving what they expect from the website. Providing the solutions to most asked questions also helps. Focusing on relevance, consistency and having a proper research done before having the content go online is a must!

Implementing budget safe PR activities , third party endorsements can bring more value to the brands or the products on the website. As the statists suggest that 85 per cent of the shoppers rely on the reviews being made by the previous buyers before purchasing. As a startup it might be difficult to provide funding for the PR agency, but there are many other things you can do. Creating relationships with related media, having brand mentions and links added to the website, taking part in the community activities are few of them. It does not require much spending. Next is to take complete advantage of social media and hire budget friendly influencers to get the promotions done. Following these crucial steps can help the business shine.

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LexisNexis risk solutions study reveals sharp rise of financial crime compliance costs

Decision makers inside banks, investment firms, asset managers and insurance firms identify the drivers impacting financial crime compliance. LexisNexis® Risk Solutions revealed that the results of its annual True Cost of Financial Crime Compliance Study for the U.S. and Canada. The total projected cost of financial crime compliance for the region is approximately $49.9 billion. The survey illustrates the sharp increase in financial crime compliance costs.

The study projects the average annual cost of financial crime compliance for U.S. financial institutions with $10 billion. Pandemic Continues to Spur Growth. The pandemic continues to negatively impact compliance operations. Sixty eight percent of U.S. respondents report longer times required to complete due diligence. Fifty five percent of U.S. respondents report reduced productivity compared.

More U.S. financial institutions now rank real estate and hospitality as top money laundering risk segments. Crime involving digital payments, trade-based money laundering and money mule schemes are on the rise. Digital currency is a growing problem for Canadian firms. Crimes involving digital payments have the greatest impact on compliance costs. Cryptocurrency crimes have the greatest impact on compliance costs for Canadian firms. The survey results demonstrate that financial institutions are battling a broader set of issues.

Survey respondents indicate that a lack of current and extensive data tops the list of Know Your Customer (KYC). Leslie Bailey, vice president of financial crime compliance strategy for LexisNexis Risk Solutions stated that the study shows clear linkages between the pandemic, digital crime and increasing regulations. Hence, financial institutions need to prepare for expanded compliance obligations and risks from emerging financial crime. Bailey added that digital transformation is a game-changer for financial crime compliance operations.

This will require a sophisticated approach that incorporates insight into digital behaviors. This study surveyed 145 decision-makers in the U.S. and Canada. Responses were collected in June 2019, August 2020 and June 2021. Organizations such as banks, investment firms, asset management firms and insurance firms. The total annual cost of compliance across firms was calculated using survey data. The spend amount was generated by multiplying the average percent allocated to financial crime costs.

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COP26 delegates agree on need to deliver on $100 BLN climate finance pledge

Delegates heading to the COP26 U.N. climate summit in Glasgow. These delegates agreed that they must deliver on the $100 billion per year pledge. COP26 president Alok Sharma said that, it is to help most vulnerable nations for tackling the climate change.

After many days of meetings at the pre-COP26 climate event, which happened in Italy, Sharma said that there was a consensus to do more. Which is to keep the 1.5 degrees Celsius target within reach, adding more needed to be done collectively in terms of national climate plans.

The COP26 conference in Glasgow aims to secure more ambitious climate action. This is from nearly 200 countries, those all that have signed the 2015 Paris Agreement for limiting the global warming, well below 2.0 degrees Celsius. And to 1.5 degrees, above pre-industrial levels.

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City’s exposure to Evergrande is very minimal-Hong Kong finance Chief

Hong Kong’s exposure to debt-laden developer China Evergrande Group is very minimal at 0.05%. This is of banking assets, South China Morning Post reported, citing the city’s finance minister. Financial Secretary Paul Chan told the newspaper that it is very minimal and won’t cause them any systemic risks. He added that he had arrived at the conclusion after a recent audit of the local banking sector’s exposure to the company.

Chan also said that the Hong Kong’s stock market was inevitably subject to some volatility. This is amidst a recent mainland crackdown on some industries. But still he believed any setback would be temporary. With liabilities of $305 billion, Evergrande has sparked concerns its cash crunch could spread through China’s financial system. This may reverberate globally and that is a worry that has eased with the Chinese central bank’s vow, to protect homebuyers’ interests. Evergrande has missed two bond interest payments. Bondholders have said this and its offshore debt, amounting to about $20 billion, trades at distressed levels.

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