Carlos Hank Rhon, Technology and Banking

Online banking is now common and uses computer technology to relieve the consumer of the paper based and time consuming aspects of traditional banking, allowing people to manage their finances efficiently and quickly. With the help of the internet and smart phone technology, explains Carlos Hank Rhon, banks have started utilizing powerful computer networks for automating large numbers of daily transactions, which minimizes the time consuming manual paper work, giving access to many different online banking services to its clients instantly, on demand, at home or at work. Banks are also offering mobile banking options thanks to the rise in mobile smart phone usage.

Mobile banking can offer services such as the following:

• Mini-statements and checking of account history
• Alerts on account activity or passing of set thresholds
• Monitoring of term deposits
• Access to loan statements
• Access to card statements
• Mutual funds / equity statements
• Insurance policy management
• Pension plan management
• Status on check, stop payment on check
• Ordering check books
• Balance checking in the account
• Recent transactions
• Due date of payment (functionality for stop, change and deleting of payments)
• PIN provision, Change of PIN and reminder over the Internet
• Blocking of (lost, stolen) cards
• Domestic and international fund transfers
• Micro-payment handling
• Mobile recharging
• Commercial payment processing
• Bill payment processing
• Peer to Peer payments
• Withdrawal at banking agent
• Deposit at banking agent

With the help online and mobile banking, explains Carlos Hank Rhon, the banks have the power to attract new customers by giving them an opportunity to eradicate time consuming teller interactions and has therefore become a significant competitive weapon in an increasingly over supplied banking environment. This technology allows day to day transactions over the Internet through a secure bank website. With the help of online banking, businesses and individuals can have access to money and banking functions anytime and anywhere, where there is internet access. The primary advantage of online banks is that they remain available all the times, unlike traditional banks, which are open only during established office hours. If the consumer is out of town and needs money, notes Carlos Hank Rhon, then he can log on quickly to his banks website and take care of the required business, such as paying a pressing utility bill. The individual or business can manage and access all of the aspects of bank accounts like CDs, IRA's securities from one protected website. Increasingly banks are using online access to bundle access to stock brokerage and other financial services such as business loans to improve cash flow.

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Other various features are also included with online banking services such as stock quotes, account aggregation, programs for managing portfolio and rate alerts assist the customers in organizing all their assets easily and efficiently. This technology has seen a tremendous increment in usage, as more and more big national banks and various other banks in smaller regions, have started some form of online banking to provide convenience to their customers. In fact, it is rare today to find an established banking institution without a comprehensive online presence.

Hank Rhon: Strategy and Business Planning

An important factor for any business is to come up with a strategy for business, that is an overall plan of action of how the business will work within the given industry and how it will reach the people it needs to reach, explains Carlos Hank Rhon. Strategy is basically the direction and the scope an organization will take over a long term period. From time to time you may also need to rework your business strategy. The basics of a strategy for business is thus:

•     Direction – where the business is trying to get to in the long term
•     Scope – which markets should the business compete in and what are the activities within this market
•     Advantage – how the business can perform better than the competition
•     Resources – what skills, assets, relationships, technical abilities, etc are required for the business to compete such as effective business leadership
•     Environment – what is the external environment that could affect the business’ ability to compete
•     Stakeholders – what are the expectations of the people in power and business leaders in and around the business

These types of strategies can take place at different levels of the business’ life cycle, from the overall business itself to that of the people working in and around the business, explains Hank Rhon. Within these overall strategies are smaller strategies that go along with helping the business to achieve its goals; strategic analysis for example is all about analyzing the business’ strengths in terms of position and how factors can affect this position. Implementing a global business strategy is also important if you plan on going global with your products and services. Visit the Business Planning Website for more information.

The most difficult part of a strategy for business is the implementation, especially when dealing with an established business. Often times, people are unwilling and afraid of the changes that can come from the overall analysis.

Carlos Hank Rhon: Improve Fiscal Management with Online Banking

Carlos Hank Rhon, explains how online banking can assist in improved fiscal management.

Banking services, money, and access to money has become one of the most important necessities for both businesses and individuals in today's society, explains Carlos Hank Rhon. This is mainly because of its significance of being the primary tool for market acquisition used by each individual to purchase products and services for their needs.

Being the primary mode and basis for economic value, it is important for everyone to have a reliable measure for managing their financial issues and concern with the additional option of increasing interest for their business investment. Banking Institutions understand the importance of convenience for their customers and offering online banking services is now standard practice.

In this aspect, the most significant and preferred method of money management for consumers is the banking approach. Because of the trend of increasing demand and preference towards the banking measure, more and more institutions in the financial sector are now offering services that benefit consumers interest in simplicity and convenience.

In addition, their respective services are also developing with greater advantages and benefit for their clients such as higher interest rates, effective assistance services, reliable communication measures, and others. With the introduction of modern computing technology and the internet, online was developed and this technology option has become increasingly popular. Online banking allows businesses and individuals an easy way to track all of their finances. To learn more about online banking benefits, read the article by Carlos Hank Rhon titled, Your Money, Your Business and the Internet.

Carlos Hank Rhon, Investing for the Future

Making plans for your financial future is a very smart move to make according to Carlos Hank Rhon. There are many ways to invest in your future so that you will have all of your financial needs taken care of and be able to enjoy your retirement years. Many people may not think about investing in their futures as soon as they go into the work force. However ,that is the very best time to start considering all of the investment options that are available to you.

If you can start saving your money early, explains Carlos Hank Rhon, you will have an abundance of funds available to you when it comes time to retire which means that you will be able to live comfortably and support your family’s needs.

There are several different investment options which are available to you once you start working. Many employers will offer some type of retirement fund that they will also contribute to. This retirement fund will collect interest as time goes on allowing you to save back more money than you actually deposited into your account. One of the most popular types of retirement plans that are available through most work places would have to be a 401k plan. This plan allows you to borrow from your retirement fund early, while you are still working, once you reach a certain age or if a special circumstance were to occur. This type of retirement plan can be very beneficial to those individuals who may need a little extra help over the years when it comes to paying for their mortgage or making a large purchase such as a new car.

Economy Improving, Businesses Refinance Commerical Loans

In the rough days of the Great Recession business owners hung onto whatever they could regarding their commercial loans, happy being able to make payments in dark economic times. As things are now starting to get better, explains Carlos Hank Rhon, these same entrepreneurs are looking to possibly refinance the same loans, hoping to get better interest rates. It is possible to refinance commercial loan but to get a good deal requires that some criteria be met.

Lending institutions don't just hand out favors and they will not do much for someone who has a poor payment record. Prior to even approaching a lender for refinancing, recommends Carlos Hank Rhon the business owner needs to be sure that all payments were on time prior to the meeting. Business owners should also make sure that all financial statements are prepared properly and are on-hand to present to the lending institution. 

A strong relationship with the bank helps but assurances such as a good cash flow ought to be on the balance sheets. Any penalty points have to be factored into the final deal and a business owner has to be able to show collateral if it is requested. A major concern ought to be with the final deal looks like in writing. If it means having an attorney look at it first prior to signature, that's not a bad idea.

Other lending institutions can be investigated for possible refinancing but their terms may include moving all business to them that may include personal checking accounts as well. A small business owner should not hesitate to review all options in order to get a refinancing. However, it has to be remembered that this is a business transaction and unlike the mortgage refinancing it is not as cut and dried a process.

Carlos Hank Rhon, Economists and Funding for Small Business

Economists rarely agree, but most will admit that small business is a driving force of the American economy and will be for many years to come. explains Carlos Hank Rhon. These entrepreneurial firms are built on the dreams and enthusiasm of people willing to take risks and in turn, providing stimulus to the economy. They do need funding to go from one level to the next and these may not necessarily be traditional banks or lending institutions. There are other options that can be considered, and a smart small business owner should consider as many as practicable.

Venture capital is one possibility. In these situations money is raised by granting cash in exchange for partial ownership of the company, which usually comes in the form of shares of stock. A word of caution, though, is a venture capitalist will play an active rather than passive role in the management company. That is not always a bad situation as many venture capitalists bring with them a wealth of experience and advice far more valuable than their investment in your business.

Government is also a source for financing and the Small Business Administration (SBA) is an excellent source, notes Carlos Hank Rhon. The Administration has a number of loan programs for which a business owner might qualify. There is an application process and funding is not necessarily a given, but it is usually easier to secure a loan from the SBA than a bank. State and local departments of economic development might also have resources available for funding.

A small business owner should of course have strong financial records and balance sheets to suggest continued success. Yet at the same time this person shouldn't feel he or she is restricted to local banks alone. Possibilities are all over for securing funding and with a little homework the small business owner may find exactly what is needed to expand an already successful operation.

Carlos Hank Rhon Banking Advancements

 

Banking has come a long way, even just over the past ten to fifteen years or so. At one time you had to visit your local bank or give them a call during normal business hours in order to find out how much money was currently in your checking or savings account. These days you can find out this information in just seconds at any time of day with just a click of a button, explains Carlos Hank Rhon. Online banking provides benefits for businesses as well as for individuals.

Thanks to advancements in banking technology such as telephone banking, online banking and mobile banking we are now able to track our spending habits more accurately than ever before. Now, explains Carlos Hank Rhon, we are able to keep track of what funds are currently available in our checking or savings account just by making a simple phone call, logging onto our online account or using a smart phone device in order to gain quick access to mobile banking.

 

Telephone banking has been around for many years and it is still widely used today by many banking customers. This automated system allows you to call and check your balance at any time throughout the day even if the bank is closed simply by entering in your account information over the phone. Online banking allows us to go to the bank’s online website and access our checking accounts online which provides us with many more user options than telephone banking and mobile banking is the newest addition to banking technology that gives users more access than ever before by use of their smart phones.

Carlos Hank Rhon: Online Banking and a Personal Checking Account

 

Online banking technology has come a long way over the past few years since it was first introduced and has quickly turned into the main way that many of us conduct our banking from one day to the next, notes Carlos Hank Rhon. Having a personal checking account and an online banking account can be very helpful and assist you better with managing your finances and understanding exactly how much money you have in your checking account at all times.

 

The personal checking account feature has been around for decades and has always been a useful asset for individuals and families alike to have. The savings account has many benefits as well. However, because checking accounts are utilized more frequenetly, the latest technology has provided us with an easier way to mail in payments for our bills as well as pay for our debts electronically over the phone or online by using our routing and checking account number. All banks these days have the personal checking account feature available while some will offer you this option for free, others may charge a small fee in order for you to sign up for a new checking account with their institution.

 

Having an online banking account in conjunction with your personal checking account is an excellent way to take more control of your finances and budget your money down to the last cent. With mobile online banking will have access to your account balance at any time of day when you have registered online for an online banking account and you will be able to log on 24/7 and find out what checks have already cleared, what charges are on hold and how much money you have left over in your account once all of your debts have gone through.

 

Carlos Hank Rhon: The Many Benefits of a Savings Account

Carlos Hank Rhon Banking

There are many great benefits that come along with having a savings account with your local bank according to Carlos Hank Rhon. A savings account will allow you to put back a little extra money occasionally so that you can save it for another purpose. Establishing an account now will prove beneficial later should you ever need commercial lending or a business loan. No matter if you are in need of saving money for a new business idea, medical expenses, a college fund, an upcoming vacation or if you simply want to put back some extra money for a rainy day, it is a good idea to have a savings account set up so that you will have that extra money whenever you need it.

 

Practically all financial institutions will have various types of savings accounts available for you to open and fund. There may be some fees associated with some savings accounts so it is important that you speak with a representative from your local bank if you are interested in opening up a savings account with them and would like to learn all of the facts about the variety of savings accounts available before you make a final decision.

 

A savings account can be linked to your checking account at many banks. This is a very convenient option for many people because they have the opportunity to use the money that is inside of their savings account as back up funding for their checking account if they happen to run out of funds or if a check bounces. This can help to prevent any additional fees being charged which can save you a lot of money in the long run if you have a tendency of letting your checking account balance run low.

Carlos Hank Rhon Explains Accrual Accounting

Accounting is the process that all companies use to keep track of their spending and organize their finances so that they can have an optimal cash flow, explains Carlos Hank Rhon. Accrual cost accounting is a combination of two accounting methods into one. Accrual accounting is a method of recording all of the transactions for a business while cost accounting focuses on just the company’s production costs. Accrual accounting helps to record all of the financial transactions as they occur and improves business decision making. The only method that is not considered in this process is cash changing hands. Cost accounting records and reports all figures that are associated with raw materials within the company, production labor and all of the company overhead. This information is very important because it can assist the company in pricing their consumer goods and services. 

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The purpose of accrual accounting is that by using it, you are helping to create a better overall flow of financial information which can make your company’s financial statements much easier to comprehend, notes Carlos Hank Rhon. All types of business owners can look over and review their financial information from the past to the present and see for themselves when the costs have gone up or went down based on the volume, on the consumer demand for the products or services and based on various other economic factors that may have an impact on your company’s cash flow.

Cost accounting is considered to be a part of management accounting and therefore it doesn’t necessarily need to go along with all of the national accounting standards in order for you to be able to calculate your company’s overall production costs. This means that companies are allowed to be more flexible when it comes to tracking this type of financial information.

 

Accrual accounting is considered to be the standard accounting practice for many companies in the United States with the exception of some very small operations who do not require this extensive financial solution, notes Carlos Hank Rhon. This type of accounting method can help to provide company owners with a more accurate picture of their current financial condition however the complexity of accrual accounting can make it more expensive to implement. This form of accounting is the opposite of cash accounting which only recognizes transactions when there is an exchange of actual cash from one individual to another.

The need for this type of accounting method came to be due to the increase of complex business transactions as well as the desire for a more accurate way for businesses to manage their finances over time and allow themselves a larger cash flow to work with. Having the ability to sell on credit and business projects that will provide revenue in the future allows a company’s financial condition to improve dramatically. Therefore it makes more sense for many companies to use this method of accounting to help them to precisely organize their financial situation.

 

Accrual accounting is used to primarily measure the performance and position of a company simply by recognizing the economic events that take place regardless of when the actual cash transaction occurs. This may seem like a very inaccurate form of accounting at first but once you see this method at work you will notice that your company will have more financial freedom to work with in the end.

Carlos Hank Rhon: Advice for Delegating Business Tasks

It can be very difficult for some small business owners to let go of their responsibilities and delegate tasks out to other workers according to Carlos Hank Rhon. You take pride in being the leader of your company and know more about the responsibilities at hand than anyone else on the team does. But sometimes being the leader of a company can become very overwhelming especially once business takes off and you have more tasks in front of you than you can tend to in one day. That is when it is time to begin delegating some of your important tasks out to other people so that you can share the heavy workload and allow yourself to focus on other areas of your job.

Carlos Hank Rhon

Trusting other people to take on such roles and taking care of the company’s finances or scheduling meetings with other clients is a task that is much easier said than done, explains Carlos Hank Rhon. But as you begin to let go of some of your important responsibilities, you will soon see that it really wasn’t that difficult after all and you will enjoy the newfound freedom that you have throughout the day that you do not have to spend staring at figures and discussing new ideas with fellow colleagues. By delegating out tasks to your other workers you are providing them with the additional responsibilities that they have been waiting for that will allow them to challenge themselves to work harder and give them a feeling that they truly belong with the company.

Some of the tasks that you as a business owner may want to delegate out to your employees include managing the company’s finances, coming up with new marketing strategies, organizing the daily schedule, taking over small meetings with business teams and keeping up with the company’s inventory. Some of these tasks may seem more important than others so it is highly recommended that you take the time to delegate each task out to the right person that you believe will be able to handle the job with very few complications, notes Carlos Hank Rhon.  You can allow your employees to have as little or as much control over their new tasks as you wish, giving them a small amount of control at first and slowly working your way up to allowing them to have full control over the task at hand is a great way to get used to delegating out a task to another individual.

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You may want to interview your employees in order to find out which one would be the best to take on these new roles. Finding independent workers who do not require someone standing over them 24/7 in order to get a job completed is the best way to ensure that your delegated tasks will get completed in a quick and efficient manner with very few errors if any. This interviewing process will also allow you to find out who is more eager out of your group of employees to take on these new responsibilities. One you have several tasks delegated out to other workers you will wonder why you didn’t choose to let go of some of your work responsibilities sooner.

Content Source: Carlos Hank Rhon: Advice for Delegating Business Tasks

Carlos Hank Rhon - Financial Strategies for Businesses

Coming up with a good financial strategy for your business to go by make take a lot of time and cause you to have to seek guidance from other individuals who know more about accounting and balancing business finances, explains Carlos Hank Rhon. But once you are able to come up with a solid financial strategy for your company to go by you will be a lot better off with a more solid cash flow situation and less liabilities to pay off.

A huge part of a successful business plan is the financial side of the plan. The financial strategy for your company should include the income statement, the cash flow statement and the balance sheet. For many new businesses that are just starting out, these financial statements will only be projections however existing businesses will be able to contribute several years of financial statements as well as projections for the future, notes Carlos Hank Rhon. Along with these statements the plan should also include the financial strategies for the business and how their finances will be taken care of over time.

Cash Flow Management is an important part of any financial strategy according to Carlos Hank Rhon. The income statement and balance sheet can look perfect on paper but if the cash flow is not managed properly then a business can go under very quickly. Managing your cash flow should be a huge part of your company’s financial strategy. This should help you to determine how your company’s profits will be used in order to create more revenue. It will also identify the amount of cash that will always be in reserves or on hand as well as how all major debts are expected to be paid over time. Cash flow management includes laying out the financial strategy ahead of time so that you will be able to make financial decisions for your company easier when it comes time to write out a check for a major debt or access a line of credit.

It is important that any purchases that are made through the company no matter how big or small they may be should be detailed in the guidelines of the business plan. This will help you to determine which purchases should be made with cash, a line of credit or with a company credit card. This type of financial strategy can also help you to outline taking advantage of terms for your suppliers. If your supplier offers you a 45 day payment term, then the business will wait until the end of that term to make a payment which will be better for your company’s cash flow overall.

Your company’s financial strategy should be a general guide for how you need to spend and save money as a business, explains Carlos Hank Rhon. While there are some specifics in the strategy that could be outlined, it can be difficult to account for every type of financial scenario that you may be faced with on down the road. A good financial strategy will provide you with a strong guideline to go by so that you can direct the staff of your business in going along with the positive financial aspects of the business world from having to pay for debts and purchases to making payroll and keeping up a consistent cash flow. 

Carlo Hank Rhon: How to Put Together a Successful Business Team

A successful business team can help your company go very far and gain more profits annually according to Carlos Hank Rhon. With the right people on your business team you will be able to tackle various tasks that come your way in the business world such as handling cash flow problems or coming up with new marketing plans to help your business go far. When it comes to putting together a good business team there are several things that you need to remember. First of all you have to find the right individuals for the job. When you are hoping to complete a business project that requires various skills in order to do so, you will need to start by reaching out to your employees that you know have the knowledge and skills to take the job on with ease. As you work with your employees over the years, you will easily be able to figure out which individuals love to be challenged while on the job and which ones work the best under pressure. These are the people that you will want to have on your business team because you already know that they will be able to provide you with superior results in the end.

In order to have a successful team there are certain elements that must always be present, explains Carlos Hank Rhon. Team goals must be clearly specified which will provide each individual on the team a certain amount of focus. All team members need to be committed to the task at hand and want to achieve the goals of the team. Those who do not take responsibility for team activities will undermine the commitment of everyone else who is involved so it is very important that you always have team members who are truly committed to the job.

Successful business teams are made up of members that trust each other and can work well with one another. These people need to be able to share ideas with each other comfortably and speak up if they believe there is a problem within the group. Lack of trust amongst business team members will cause the team’s focus to shift away from the task at hand and not focus on the team goals that need to be completed. So it is always a good idea to choose team members who you know will work well together no matter what type of project they have laid in front of them.

Just as important as having trust within a business team, you must also have mutual respect amongst your team members, notes Carlos Hank Rhon. This includes respect for everyone’s views and activities as well as respect for the goals of the team itself and what the team is working towards. Choosing team members that already show respect to others in the workplace will save you a lot of time and will decrease the amount of problems you will face in the future while it will also allow your team to get to work and finish their project in an efficient amount of time. 

Content Source: Carlo Hank Rhon: How to Put Together a Successful Business Team 

Carlos Hank Rhon : Re-Financing your Commercial Loan

Many times small business owners will be faced with the issue of paying back a commercial loan that ties up all of their assets and hurts their cash flow, explains Carlos Hank Rhon. If this is the case with your company at the moment, then you may want to consider re-financing your commercial loan. After looking over your company’s financing and evaluating all of the opportunities in front of you, many times refinancing a commercial loan may seem like the only option that is available to you. And it could be one of the best decisions that you can make as a company owner. By refinancing your loan you may be able to save a lot of money with a lower interest rate and be able to pay back your loan in a shorter amount of time which will help to improve your company’s profits and cash flow over time.

Carlos Hank Rhon Business Ideas

The first thing you need to do if you are considering refinancing your commercial loan is to look at all of your existing debt and see if there is anything you would be able to get rid of, explains Carlos Hank Rhon. The length of your new loan should collaborate with the same amount of time that your collateral will be able to hold its current value. Therefore you will want to use all of your assets such as accounts receivable or any inventory that you have to help secure your new short term loan. However more durable assets like real estate or large equipment can be used to help secure long term loans instead. 

Carlos Hank Rhon Banking

There are a few questions that you may want to ask yourself before you begin to refinance your commercial loan. You will want to know what the prepayment penalty is for refinancing your current debt. It is also important that you believe that the loan terms sound reasonable enough for your company to go by. You will need to check to see how much time is left on your amortization schedule and figure up what the interest rate is for your current loan so that you know that you will be getting a good deal. Be aware that if you are refinancing any type of real estate, your savings could be destroyed by new title work or appraisals plus any origination fees or other closing costs that may come up. If the term of the amortization is lengthened along with a new lower interest rate then your business will be able to see some cash flow relief after all.

Carlos Hank Rhon Settlements

It is best to talk with a lender at your current financial institution first when you are considering having your loan refinanced, notes Carlos Hank Rhon. They already know you and understand where your company is at and what your needs are. Plus they are already holding all of your assets in collateral so this would make refinancing your commercial loan not only easier but less time consuming and more cost effective in the long run. No matter where you decide to refinance your loan, it is important to have a good, solid business plan so that you will be able to fully demonstrate the strength of your company and prove that you have what it takes to take your business to the next level of success. 

Content Source: Carlos Hank Rhon : Re-Financing your Commercial Loan 

Carlos Hank Rhon: Financial Choices for Your Business

In the world of business, they say money makes the world go round. This may be a little harsh but it is a reality notes Carlos Hank Rhon. Without the sufficient finances you cannot run your business properly no matter how well planned it is. In other words, business financing plays a huge role in the survival of your business.

Many owners and would-be entrepreneurs face difficulties as to where they can find a source to finance a new business. Here is a list of ways to finance that you might want to consider:

1. Contact friends and family. Raking in friends and family to raise funds could have a number of benefits, confides Carlos Hank Rhon. Firstly, one doesn’t have to commit to a specific time of returning money. Funds could be utilized without any fear of lock down as usually happens in case of banks and financial firms. Secondly, one doesn’t need to worry about interest on the money borrowed, explains Carlos Hank Rhon.

2. Establish a partnership with company or investors who are willing to put their money in your business, recommends Carlos Hank Rhon. There a two types of partners, the industrial partner and the capital partner. Industrial partners are those who invest their time, skill and effort in the business in exchange for a portion of the income while capital partners invest through contributing cash or property such as machinery to the partnership.

In establishing a partnership, your partner may impose a degree of control over your business besides having a portion of your income so make sure to choose a capital partner who has less demands and conditions and who you are comfortable working with.

3. Entice investors into your business. Approach possible investors and present a well formed plan that will convince them to invest. This is somewhat similar to partners. The only difference is that investors can only demand minimum control over the business compared to partners although that will depend on the level of investment.

4. Approach suppliers and make propositions. Convince them to give you supplies in a form of loan payable periodically. That way you will have your raw materials without releasing cash before you gain income.

5.  Business loans. Inquire from banks and financial institutions like Carlos Hank Rhon  for possible business commercial loans. However, not all banks support newly opened businesses. They are more inclined to extend loans to businesses that are already operating.

6. Get cash advances from credit cards. This is normally used for a quick fix of your troubles but this is not advisable for a long term solution because interest rates on credit cards can be very punitive. Try to get the introductory rates for lower interests.

7. Lease your equipment. Rather than spending your money to buy new and expensive equipment you might think of leasing them. Leasing generally reduces the amount of money you have to raise. Within the lease period make sure to save enough income to buy your own because leasing is more costly in the long run.

8. Avail of government programs. A Small Business Administration loan can be helpful in encouraging banks and institutions to extend business financing to establishments they might otherwise turn down. Generally SBA has the same conditions as an ordinary financing company.

9. Utilize your savings. It is time to use your long time savings for greater purpose. You might be a little hesitant but do not worry because if your business will succeed it will come back to you with twice its value.

10. Mortgage your property. Mortgage must be the last resort that you should consider because of the risk it can bring. If you fail to pay you might lose more than what you bargained for.

While above mentioned are some of the well known routes available for an entrepreneur, commercial lending is another option that could be well explored. A number of financial firms including Carlos Hank Rhon extend loans after studying the potential of the business on genuine rates. Such loans makes more sense professionally rather than leaning on relatives.    

Content Source: Carlos Hank Rhon: Financial Choices for Your Business

Carlos Hank Rhon Explains The Importance of Stocks, Bonds and 401k Accounts

Methods of investments such as stocks, bonds and 401k accounts are all very important to have and can each provide you with a solid investment that you will be able to count on in the future when it comes time for you to retire, explains  Carlos Hank Rhon. Choosing to invest in stocks and bonds can not only help you create a substantial investment for your own personal use but these methods of investments can also help your business to benefit a great deal as well. The first thing that you should know when it comes to dealing with stocks is to understand what a stock actually is and how the stock market generally works. You should be aware of all the minor details before you plan on getting started with these types of investments. For instance, a share of a stock is simply the smallest unit of ownership inside of a company. If you as an individual or even as a business own a share of a company’s stock, then that makes you a part owner of that company.

There are two types of stock out there however just one is used most often by individuals. These are known as common stock and preferred stock, notes  Carlos Hank Rhon. Common stock is the one that is mostly held by individuals and it makes up the majority of stocks that are held by the public. When you own part of a common stock, you have voting rights within the company as well as the right to share in the stock’s dividends.

Preferred stock has fewer rights than common stock does, except for in one very important area and that would dividends Companies that issue out preferred stocks will usually pay consistent dividends, and it is important to know that preferred stock has first call on dividends over common stock. Many investors will take a chance and buy preferred stock simply based on its current income from dividends. You should always look for companies that make big profits to use preferred stock so that they can return some of their profits back to dividends.

Bonds can usually provide you with a very steady form of income if you understand how the system works according to Carlos Hank Rhon. You have the ability to reinvest in bonds and use the money for other expenses if needed. The overall price for a bond may go up or down over time however the income from a bond will always remain the same. Municipal bonds are a great way to help generate a tax free income for you which can be very helpful to those who own their own business and wish to use the extra money for business expenses.

A 401k account is an individual retirement account that is a great method of investment which you can use for your own personal finances over time or when you decide to retire. The 401k plan is known to be a qualified plan which means that it is established by your employers who allow you to make a salary deferral contribution to your account. Some employers who offer the 401k plan in their company benefits may choose to match their employee’s contribution on behalf of the eligible individual and they may also add profit-sharing features to the 401k plan so that earnings may build up on a tax deferred basis.

Content Source: Carlos Hank Rhon Explains The Importance of Stocks, Bonds and 401k Accounts

Consideration in Forming Your Business Structure

There are four types of structures that an up and coming business can choose from – sole proprietor, LLC, S-corporation, and C-corporation. One of the benefits of hiring an accountant is that they can help you determine which structure will work best for your business.

Sole Proprietor

this type of structure is for those who work for themselves and have no partners involved with the business. This is the most common choice for those who are self-employed or who are freelancers, explains Carlos Hank Rhon.  It is the easiest to set up, with only one tax return and one bank account..........................Read More

Content Source:  Consideration in Forming Your Business Structure

What you should Know Before you apply for a Commercial Loan

The first and most important thing that you should do when it comes to applying for a commercial loan is to come up with a good business plan, explains Carlos Hank Rhon. Lenders who work for banks and other financial institutions want to be sure that you are hoping to start a credible business and that you have all of the necessary knowledge and skills that are required in order to run a successful business. You need to include everything positive about your business in your business plan including all of your goals, your competitors, past projected revenue and expenses, possible marketing strategies and how you intend to grow as a company. Your business plan should show why you are the best person to get this company on its feet and move forward with it into the future. After all of that you should also include an exclusive summary for your lender that will further explain what your vision for your company truly is. The summary will be the first thing that your lenders will read when they look at your business plan and it could also end up being the last thing they read from you if they are not interested right away so therefore it is important to have a steady business plan..........Read More

Content Source: What you should Know Before you apply for a Commercial Loan

Carlos Hank Rhon Understanding Your Bank Account

When it's time to open up a new bank account, it can seem confusing and overwhelming to learn about all the options that are available to you. Whether you're sticking with your tried-and-true bank, or switching institutions all together, there's a lot to learn about new accounts. While there are a number of options available to you, it's important to remember to search for the account that's best for your needs. First identify what the account is to be used for. If it's a personal savings account you'll want different services than an everyday checking account or business bank account. 

One aspect to learn about right away is the overdraft facility. Many people rely on an overdraft each month to get by, and if this applies to you then you'll want to find the bank account that has the right overdraft plan and rates for you. Be sure to check around for the best monthly rates, and ask bank account representatives if they offer any discounts or reduced fees for your particular situation.................Read More

Content Source: http://www.carloshankrhon-banking.com/

Carlos Hank Rhon New Trends of banking - Mobile Banking

In today world Mobile Banking is a popular term. Mobile Banking means a financial transaction conducted by logging on to a bank's website using a cell phone, such as viewing account balances, making transfers between accounts, or paying bills. It is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. In recent time Mobile banking is most often performed via SMS or the Mobile Internet but can also use special programs called clients downloaded to the mobile device

Key challenges in developing a sophisticated mobile banking application are:

1. Handset operability

2. Security Issue

3. Scalability and Reliability

4. Application distribution

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Content Source: http://www.carloshankrhon-banking.com/