How you can start a business in a small way

by Sally Wong

It is sad that in today's world many people are getting more disillusioned with their lives and what they do for a living. Most people are caught up in a daily routine and the rat race and their lives have reduced to a robotic existence of chasing deadlines and more activities than one can fit into a day. People are so focused on surviving that they lose sight of life itself.

Undoubtedly, money is important in today's life. Without money, we cannot hope to lead a quality life with all the comforts that modern lifestyle offers today. We have to take a moment to think of better ways to make money without sacrificing the qualify of life.

The best way to do this is by taking control of your time and channelling your efforts towards a business which can contribute money. There are so many income generation opportunities today that we are almost lost in a sea of choices.

The ideal way to get started is by starting a small business right form the comforts of your home. Starting a small business does not require much capital to start with. All you need is a product or service that you can offer in exchange for money.

How to Make Money

by Sally Wong

You may heard or seen many people get lucky with money or hit the jackpot without much effort. These people if you study them closely, will seem as though they keep getting lucky again and again. These people are the minority and are rarely found. If you are one of them, please read no further as this article is not for you.

All the other regular folks who don't fall into any of the categories - welcome to the club. 99% of all people in the world belong to this category including myself. For the rest of us, the road to wealth is not an easy one. Fortunately, today we live in a world where there are countless ways of making money and creating wealth.

Start a business that matches with your personal interest.

Investment Tips - How to Invest Your Money

by Sally Wong

There are many ways that one can invest their money. A financially savvy individual must know all these different ways although it is not necessary to follow them all. Some investment strategies might work wonderfully for some people while for some other people it might not work at all. The key is in identifying the best strategies that work for you. Here we present 10 steps that you can take to best invest your money:-

Step 1: How much do you have to invest?

There are a few key questions that you must ask yourself before you can safely determine the amount of money that you intend to invest. First of all, are you going to invest a sum of money one time or are you going to invest a little every month?

Secondly, you have to ask yourself if it is going to be a short term investment or is it for long term.

GST Implementation in Malaysia

by Sally Wong

On the 1st of April 2015, Malaysia went live with its Goods and Services Tax (GST) implementation throughout the country. The GST is generally looked upon by the public as something detrimental to the well-being of the people although on the same note many do agree that it is good for the country. The government on the other hand have faced tremendous amount of criticism over how it went about implementing the GST policies.

GST is one of the most popular taxation systems in the world having been adopted by over 150 countries. This taxation method is deemed to be the most fair as it is based on consumption and only applies to those who can afford such products or services. Most of the essential goods and services such as basic food items, education, transport and more are either zero rated or exempted from the tax and as such the poor and the economically challenged groups would not be affected so much by it.

Stabilize Your Current Situation Before You Invest

by Sally Wong

Before you consider investing in any type of market, you should really take a long hard look at your current situation. Investing in the future is a good thing, but clearing up bad – or potentially bad – situations in the present is more important.

Pull your credit report. You should do this once each year. It is important to know what is on your report, and to clear up any negative items on your credit report as soon as possible.

If you’ve set aside $25,000 to invest, but you have $25,000 worth of bad credit, you are better off cleaning up the credit first!

Next, look at what you are paying out each month, and get rid of expenses that are not necessary. For instance, high interest credit cards are not necessary. Pay them off and get rid of them. If you have high interest outstanding loans, pay them off as well.

Building Cash Reserves

by Eric Tan

Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months worth of income safely stored away in the bank. 

If you're a business grossing $250,000 per month, the mere thought of saving over $1.5 million dollars in a savings account will either have you collapsing from fits of laughter or from the paralyzing panic that has just set in. 

What may be a nice well-advised idea in theory can easily be tossed right out the window when you're just barely making payroll each month. So how is a small business owner to even begin a prudent savings program for long-term success?

Managing the Bottom Line

 by Rohit Sharma - Guest Blogger

If you don't keep track of how much money you're making, you have no idea whether your business is successful or not. You can't tell how well your marketing is working. And I don't just mean you should know the amount of your total sales or gross revenue. You need to know what your net profit is. If you don't, there's no way you can know how to increase it.

If you want your business to be successful, you need to make a financial plan and check it against the facts on a monthly basis, then take immediate action to correct any problems. 

Datuk Dr. Elamaran Sabapathy who is an accountant by training and is a successfully entrepreneur himself, suggests the following steps that one should take:-