6 Services Thriving in 2020

2020 has been a tough year for most service-based businesses. With that said, resiliency is on full display, with companies big and small finding ways to reach customers and remain open.

What’s more, some businesses are thriving like never before. The following are six services seeing significant success in 2020:

Lending

With so many individuals and companies experiencing financial shortfalls this year, it’s no surprise borrowing rates are going up. More families are using personal installment loans to supplement reduced household income, while companies are using business loans to cover payroll and expenses. Lenders have stayed busy, processing applications as fast as they’re received.

SaaS

It’s safe to say 2020 has become the year work-from-home went mainstream. Companies around the globe have shifted to entirely remote-based operations, meaning many of them have come to rely on software as a service more than ever before.  Whether it’s business-grade video chat apps or collaborative software, companies count on them to conduct business as usual during most unusual times.

Delivery

In response to social distancing guidelines, more consumers are turning to online shopping. Whether it’s a pallet of toilet paper or a month’s worth of groceries, these and other essential products must get delivered to your door. While the fulfillment process is getting pushed to its limit, there’s no denying delivery services are booming in 2020.

Streaming

Among other memorable events – some related others not – 2020 will be remembered for the amount of time we spent at home. It’s been a goldmine for streaming services, with record numbers of new subscribers as well as an enormous increase in hours of content watched. Whether this burst in demand becomes the norm or reverts to pre-2020 levels remains to be seen, but it’s been an excellent year for streaming services.

Gaming

On a similar note, gaming consoles and their respective online gaming services have seen record sales and subscriptions in the last few months. In particular, stores and online sellers can’t keep up with the demand for the Nintendo Switch, a gaming console first released over three years ago. Given how much time everyone is spending at home, it’s no shock to see sales soar for video game products.

Grocery

In times of crisis, such as natural disasters and social unrest, people tend to start panic buying food items and other products deemed to be essential. The result is iconic images of empty aisles in stores across the planet. While it’s safe to assume the owners and executives would prefer an average year to this one, grocery stores and supermarket chains have been some of the real winners in terms of maintaining and exceeding sales expectations for 2020.

The world has seen better days, but it’s also seen much worse. As far as most businesses and individuals are concerned, the main objective is merely getting through the rest of the year in hopes 2021 will improve. For others, the demand for their services has never been greater. Regardless of whether sales are up or down, we can all agree a return to normal is the preferred outcome.

Finding Off Market Properties: What You Need To Know

As an investor, you’re always searching for that next steal of a property. One of the best ways to get great properties at huge discounts is to search off the market. Unlike listed properties, off market properties tend to be undervalued. If you haven’t dipped your toes into this type of investing, you may wonder how to get started. Use the following text as your guide.

Defining Off Market Real Estate

To understand how to go about searching for off market real estate, you first need to know what, exactly, the term means. “Off market” simply means that property wasn’t submitted to the Multiple Listing Service for advertisement. Word of mouth through the broker’s network is typically the only way the availability of the property is made known.

Finding Off Market Property

If you want to buy off market property, there are a few tricks you can try. Here are the top three.

1. Talk to Your Network

Any veteran real estate agent, investor or broker will tell you that networking is crucial to their success. There is always someone who knows someone who knows someone who is looking to sell a great property, so let your intentions be known to anyone who cares to listen. Your perseverance is likely to uncover a lead, or several.

2. Partner With a Local Real Estate Agent

If you’re asking how you can find off market properties near you, the answer is simple: Talk to your local real estate agents. Agents are familiar with the local market and of every active listing in the area — both on and off market. By partnering with an agent, you can gain access to some of the hottest off market properties around.

3. Send Out Flyers

There are many homeowners out there who would consider selling if they received the right offer. Though time consuming, going this route can yield some of the best deals, as many potential sellers have no idea what their properties are worth and may view your offer as a chance to start anew.

Off market properties can be a great investment. Use the above tips to get started on your next phase of investing today.

What Type of Investor Needs Financial Advice?

Let me begin this article by explaining that every investor will have a very unique set of circumstances, be it financial, relationships or geographical, which makes their needs slightly different from the rest of the population. 

In that vein, you should always read guides about whether you need financial advice with a pinch of salt – after all, no journalist or writer will understand your situation and be able to make a proper assessment. 

That being said, financial advice is not for everyone. Everyone, from the UK financial regulator, to financial advisers themselves will be upfront and admit this. 

So, who are financial advisers an ideal match for? What type of investor should be seeking professional advice on matters such as investments? Let’s take a look at different investor types (by general bucket) and see how a financial advisor could help or hinder them. 

Novices (People who have little interest or knowledge of investing)

The first group of investors are the novices. And I mean complete novices – those who aren’t familiar with the characteristics of stocks & shares or corporate bonds. A novice won’t have directly invested into equities, bonds or property before. They won’t have even read an investing book. 

As a result, they will have typically kept their savings in a safe, government-backed bank account or savings bond.

For this group of people, financial advisers offer a gateway into a far more lucrative form of investing. 

Without the support of a qualified professional, a novice may never feel they have the confidence or direction to place money into a diversified portfolio of assets. The financial adviser is not only an adviser, but also a sign-post, capable of educating and opening the eyes of novices to better opportunities beyond the horizon. 

This group of investors are well catered for by the financial advice industry. They will be dealt with by advisers who can communicate complex matters clearly and in simple terms that they will understand.

The Wealthy

The wealthy could also benefit from financial advice because for them, it’s virtually free. What do I mean by that? A rich person discount? Absolutely not, if anything, a financial adviser will charge higher fees to a wealthy individual. 

However, fees for upfront advice (such as creating an investment plan) tend to be fixed rather than % based. This means that for an investor with a £20m sum of money to invest (such as a lottery winner), the fee will be capped at (for example) £10,000. £10,000 may feel like a significant amount of money to spend on a few hours or days of research and advice, however relative to the investment itself, it’s a modest amount (It’s 0.05%!).

The benefits of advice scale up with the size of the investment – the money you have invested, the more financially better off advice could make you. However the costs don’t scale up. This makes professional advice a perfect match for the wealthy. 

If you’ve heard of the term ‘family office’, this is a private organisation that a high net worth individual has created primarily with the purpose of organising and advising on their financial affairs.

What are The Perks of Heavy Equipment Financing for Construction Businesses?

In order to operate a construction business at full capacity, you need updated heavy equipment that ranges from 100k to 15million dollars. You require huge capital to invest if you want to run the business smoothly. As a startup business owner, you may not find adequate finances to meet your equipment requirements so it is best for you to consider the approach of heavy equipment financing which is a good money lending program that suits your needs. If you are still wondering about financing the construction equipment for your business then you should read the following pros of availing the loan for your business.

equipment financing

It resolves cash flow issues:

As mentioned above that construction equipment is costly so in order to pay cash for purchasing it, you need to spend all of the business working capital that you have in the hand. It will cause financial hardship for you as you will not be left with adequate money to operate your business smoothly. For smooth business operation, you require cash flow so by opting for the heavy equipment funding you can resolve the issues of cash flow as you will get the adequate amount to buy the expensive excavators, loaders, cranes, backhoe, and tractor without using your working capital.

You get money to purchase the machinery:

Professional money lenders have simple loan application and processing programs so it can resolve the matter without letting you delay buying the construction equipment. You can get instant access to the money by simply completing the loan application form and by providing the proof of business existence and guarantee for loan re-payment. Most of the professional equipment financers lend money on the same day of approval so you do not have to keep the idea pending for purchasing the heavy construction equipment in order to support your business.

machinery

You can acquire the equipment quickly:

Professional equipment financing companies have solid relations with the equipment vendors so after getting your loan approved and financed you do not need to waste your valuable time to look for the equipment vendors. They can provide you with the list of certified equipment suppliers which makes it easy for you to pick the machinery for a construction business to commence it as soon as possible. Consulting with professionals for heavy equipment financing will prevent the hassle to search for reliable sellers and to compare the prices with different vendors as you can get the equipment at competitive prices.

Get a loan without additional collateral:

Collateral is an asset that acts as a security for the loan and most of the loan types require collateral before getting approved. But in the case of heavy equipment finance, you do not need to keep your property or assets as collateral as the equipment will itself act as collateral for the loan. If you are not able to pay the loan amount then the lender has the right to seal the equipment and can sell it to recover the balance amount so loan for heavy machinery does not require additional collateral which is an added advantage to you.

It improves construction business operations:

Getting a loan for the heavy construction equipment can allow you to buy the machinery that you cannot afford. Whether you want large equipment like excavators, cement mixtures, loaders, and lifting equipment or have a requirement for office equipment you can fulfill it with the finances. If you have a good credit score then you can acquire up to 50000000 dollars loan from the equipment finance company with financial disclosure and can improve the operations of your business without any fail which will also boost the growth of your construction company.

You can reap tax advantage:

As an owner of a construction company, buying heavy equipment through financing can provide you with a tax advantage. According to section 179 of the IRS tax code, you can get deductions from the taxes by showing the documented proof of financing and can get tax relief up to the full cost of the equipment purchased in the tax year. You can pay fewer taxes to IRS and can save money to use for construction business operations.

Possess full ownership of equipment:

Equipment financing for construction business will also enable you the facility to get full ownership of the equipment that you have purchased. You can repay the loan amount with fixed monthly installments which is an easy way to get clearance from the moneylender. As compared to leasing, financing is the best way to possess full ownership of the equipment and after clearing the loan you can also sell or rent it to make money. In a leasing agreement, you will be charged for any modification and changes made to the rental machinery as you will not become the owner of the equipment.

Remodel Your Kitchen

Everything has a lifespan, and if your kitchen has seen its day, it may be time for a remodel. Some people can do the repairs in stages, and others get a personal loan from institutions like Simple Path Financial for a full remodel.

Complete Overhaul

Sometimes a kitchen is not worth trying to save, so stripping everything is the only viable option. Complete kitchen remodels range from about $15,000 to $50,000. A full remodel is when you would likely want to look into a loan from Simple Path Financial. You can buy complete modern kitchens from places like IKEA, or have custom cabinets built.

Affordable Touchups

Small updates can go a long way. Older kitchens often have outdated lighting like fluorescent tubes. By having an electrician remove them and install can lighting, your kitchen will automatically feel fresher. The primary reason that kitchens can feel old is the amount of grime and grease that accumulates over time. Hire a housekeeper to do a complete deep clean of your kitchen, including above the cabinets and behind appliances. Lastly, if your cabinets are in bad shape or out of style, paint them in a trendy color to bring them up to date.

The kitchen is the most actively used room in the house and should be refreshed from time to time.