Council tax bills are set to raise 3.5per cent.

The rise is the lowest increase in council tax in decades as the councils try to hold down any tax increases during this period of economic downturn.

The rise will take place in spring which will take the average bill for 2009-2010 to £1,421.

The London Government Association claimed that Councils are facing a £2.5 billion drop in revenue, due to the drop in service charges and as capital receipts from land and property drop off. Councils across the country currently have recruitment freezes in place and one in seven had already had to make job cuts.

This comes at a time where more and more people are turning to the council for help during the recession. Higher demand for services due to rising unemployment, rising homelessness, increased amount of people apply for housing benefit and people seeking debt advice.

As the government comes up with its second bank rescue package, which will include a bank insurance scheme in order to cover banks against future bad loans, in a plan to encourage banks to lend to individuals and businesses.

The government’s plan which potentially could cost billions of pounds is hoped to prevent any further deterioration of confidence before the banks announce their expected losses.

If the plan does work then it is hoped to bring greater stability to the banks and the wider economy however if the plan does not work then we will see some of the major banks become nationalised and the economic downturn become extremely painful. Let’s hope Gordon Brown’s action plan pays off.

For helpful tips and advice for a new budget visit LuckyDustBingo’s New Budget New You http://www.luckydustbingo.co.uk/reviews/latest-news-new-year-new-budget-new-you.html

Stacey Beattie
http://www.articlesbase.com/online-gambling-articles/lowest-increase-in-council-tax-bills-for-decades-728393.html

Most of the people whom I have met are only interested in searching for a great forex trading system but neglected on the money management part. You could find yourself in dead end if there is a lack of discipline in following the money management rules even if you know how to trade forex successfully.

Money management is what full time and professional forex traders seen as one of the most important factor to succeed in forex trading. Below are the 3 proven techniques that forex trading experts ALWAYS practice:

1. Only Risk Maximum Of 5% of capital Per Trade

Capital Preservations are very important, it can determine whether you are able to survive in the long run in the forex market. The reason for risking only maximum of 5% is that you still have ample capital to trade even if you loose a few trades. I risk only 1% of my capital per trade.

Never put all the eggs in one basket. Although you might have forex trading signals which gives you good probability trades, but this #1 rule should form a general part of your trading system, so that you don’t risk too much on a trade.

2. Have a Healthy Risk to Reward Ratio

A lot of forex traders only care about making profits in the market. Some don’t mind making small profits although their risk for that particular trade is higher. This is a huge mistake. Never risk more than what you can potentially make. For example, you should have a reward of at least 60 pips when you risk 30 pips, this is a healthy risk to reward ratio of 1:2.

This rule ensures you to be profitable, winning more than you loose. So let’s say out of 5 trades, if you loose 3, which is total of 90 pips (30 pips lost per trade), you win the other 2 trades (60 pips per trade), you will still make 30 pips net(120 pips – 90 pips).

3. Do Not Open Multiple Positions Until First Trade Is In Profits

You may be confident that the first forex trade that you opened will be profitable, but do not open a second position until you see the profits from the first trade. This helps you to keep calm if the first position is in loss, and you don’t have another burden from the second trade.

Those above may seem simple but actually require much discipline in real fact. That is what makes the difference between professional traders and retail traders, you need the right forex education. But give yourself a chance by getting forex tips, tutorials and trading system from my FREE ebook, to learn how to trade forex successfully like the professionals.

Daniel S.
http://www.articlesbase.com/currency-trading-articles/forex-trading-tips-top-3-money-management-rules-to-succeed-in-forex-trading-730033.html

Unlike women, who prefer lifetime membership at spas or having a ticket in a trip across the world, men simply have different tastes when it comes to retirement gifts. Unlike the opposite sex, who wants to be pampered and to be bathed by luxury, men simply want something that affirms their virility.

Men simply want nothing more than to be a young and energetic man again. In other words, a good retirement gift must make them almost kind of like relive those times.

Some Tips

When it comes to sports, nothing says “still playable by old people” other than the century-old sport, golf. So gifts like personalized golf sets (if he’s left handed, give a customized golf set for left-handed men), monogrammed golf balls and gloves are perfect gifts not only to encourage him to be active once again, it also helps when it contributes to his declining health.

If golf sets are a tad too expensive, you may opt for squash or tennis racquets along with customized polo shirts with the family logo (if they have one). What is important is that you rekindle the sports loving gent inside of him. These kind of gifts always work—has anyone heard of a man who doesn’t watch ESPN or isn’t addicted to Monday night Football or Friday night Basketball?

A good alternative to sports-related gifts are expensive alcohol. The brands don’t have to be too extravagant. A huge bottle of J&B or the commonplace Blue Label Johnnie Walker may suffice. It is always good to let him remember the good old times in the bar where he and his friends can do no better than drink the night away. But giving these kinds of gifts doesn’t mean you’re promoting that again, most men have a wine or alcohol collection stored away in a cabinet, or for the true aficionado, cabinets.

Or it could be as simple as planning a retirement/”bachelor” party for him, where he could simply have a good time with friends, chatting and drinking the night away and enjoying their other company at the gentlemen’s club.

No matter what your gift may be, make sure that is true to the fact that it’ll make the retiree feel as young as possible.

Alternatives

With these general guidelines, it doesn’t necessarily mean that one should forsake personalized gifts. One should always take into account the personality and interests of the retiree. If he loves to read about current events and blogs about it in the internet, then probably a lifetime subscription to The Economist or The Wall Street Journal will be a perfect fit for him. One mustn’t forget that very important and universal rule: suit the gift to his tastes.

Conclusion

Making retirees forget about everything about their age and the limitations that come with it must the premise behind your gift-giving decisions to these retirees. Once you find the perfect blend wherein you mix sports, leisure and fun, then rest assured that you have found the best gift possible for him.

If you can’t, just follow the rule which has stood the test of time: find out what his interests are, and give a gift based on that information. In the end, it’s all about knowing what the person wants and giving it to him.

Robert Hunter
http://www.articlesbase.com/gifts-articles/looking-for-the-perfect-retirement-gift-for-him-713195.html

How does it feel to live in a place like the old rural west, amid native California Junipers in a valley flanked by the rolling Sierra Pelona and San Gabriel mountains?

Dubbed as the “Beverly Hills” of the Antelope Valley, Acton City may be an ideal place for vacation or retirement life – close to nature yet only 25 to 30 minutes away from the San Fernando Valley and approximately 50 to 60 minutes to Los Angeles.

If you wish to retire and settle in a place such as Acton, it may do good to consider planning with your Social Security lawyer.

Having a retirement plan to work for you will depend on good preparation and your goals. To start early on your plan, you have to invest and save for the future.

Saving for retirement includes the following:

1. a comprehensive retirement calculation

2. enough social security contributions (40 points)

3. other contributions to potentially reach your financial goal within your desired time frame

4. contributions to tax-advantaged retirement accounts, such as your employer-sponsored retirement plan and an internal revenue allotment (IRA)

5. asset allocation aligned with retirement goal, risk tolerance, and time horizon

6. a review your retirement portfolio each year and a rebalance your asset allocation, if necessary

If you are nearing retirement, consider the following things:

• the payout options available to you (e.g., annuity or lump sum) with your employer-sponsored retirement account, and the pros and cons of each option

• your health insurance options, (i.e., Medicare and various Medigap supplemental plans or employer-sponsored health insurance), out-of-pocket medical expenses, and other related health care costs

• contact the Social Security office to make sure your benefit statement and relevant personal information are accurate

• decide whether to purchase a long-term care insurance or investigate which benefits are desirable

• adjustment of asset allocation to reflect your need to begin income from your portfolio soon

• an appropriate withdrawal rate of your assets to help ensure that your retirement money will last longer

• a strategy to reduce your tax burden once you begin taking your annual required minimum distribution (RMDs)

• appoint a health care proxy and durable power of attorney to take charge of your health and financial affairs if you are unable to do so

• a review of all your financial and legal documents with a Social Security lawyer to make sure beneficiaries are up-to-date

• developing an appropriate estate plan

One’s retirement plan is determined by his future needs. To identify possible needs, you must be able to pinpoint potential retirement expenses in relation to the sources of your income. Investing early for your retirement and knowing the value of your assets may help you prepare for a good retirement life.

To know how you can plan your retirement, you can visit the nearest social security office and ask them about the available options for you. Alternatively, you can visit the agency’s website to look at how you can avail of their retirement plans.

In other ways, consulting social security lawyers in Acton City can help you plan and enjoy the uninterrupted, peaceful life of retirement.

For immediate assistance regarding your retirement benefits, visit our website and find out how you may reach our dependable and experienced Social Security lawyers in Acton City.

Manuel Salvacion
http://www.articlesbase.com/personal-injury-articles/things-to-consider-when-planning-a-retirement-in-acton-city-356428.html

Myth #1. It is only applicable to big business and government.

The common misconception is that Cost Benefit Analysis is only applicable to those companies or government departments that have a vast store of funds and have specialists to call on to pump out complex recommendations. Recommendations that relate to capital purchases and allocation of funds amongst competing projects or programs.

The truth is, that this method is equally applicable to small and large businesses or any size in between. It is really useful when any business or government is faced with having to make Capital Purchase decisions. For example:

Is it in the best interests of the company to invest in a new production line to boost output or to repair and maintain the current system?

Is this model PC a better investment than another PC? Do we really need to upgrade at all?

Or, is it in the best interests of the community to invest in safer school crossings, or apply the funds to environmental rehabilitation projects?

Myth #2. It is too complex for the layman to understand.

If you can read and understand this article and can do some basic math you can master Cost Benefit Analysis and apply it like a professional.

There are certain requirements that must be followed, but the actual process of working out the final answer, termed the Benefit Cost Ratio, is really quite straightforward. If you have a basic understanding of spreadsheets, that will make it even easier.

Myth #3. It will take too long to learn.

The beauty of this method is that it can be learnt in less than 2 hours. You only need to follow the rules and apply them. Once you have learnt the basics, then you can apply the method to simple or complex problems, small or large businesses, or low-cost to high-priced projects. You don’t need to learn new skills to apply it in different situations.

Myth #4. Easier ways give the same answers.

There are many ways used to come up with an answer to solve capital purchase and funds allocation questions. Some are OK and some are not so good. Since this proven and tested Cost Benefit Analysis method is used right around the world by governments and big business wouldn’t you be safer using the same method, built on the same principles?

The problem is that most times, these decisions can have a critical bearing on the success of the company – not to mention your reputation as well. The best answers can only be arrived at, by using the best method, and this is it.

Myth #5. Its only for accountants and managers.

Some would have you believe that this method is best undertaken by accountants and managers. Not true. Anyone with an average level of intelligence at any level in a business can use this well, if the rules are followed and applied.

Myth #6. It takes too long to assemble all the data.

This may well be true in some cases. Complex, high-cost problems that require a solid recommendation may need some time spent in collecting all the costs and benefits. However, when the correct answer is critical to the health of the business, sufficient time must be spent to get the RIGHT answer – not just AN answer.

You will find that once you have done a few of these, the costs and benefits will come to hand fairly easily and in a short period of time.

Myth #7. Its OK as a theory but it doesn’t really work in practice.

I have witnessed this working in many situations – from PC purchases to multi-million dollar asset replacement decisions. When it comes to capital purchase decisions – this is the best way to go.

Using this method has many advantages – a few are listed below:

- Compares competing projects quickly and accurately – saving time and effort.

- Quickly determines whether a project is VIABLE or UNVIABLE – easily cut out unviable options, thereby saving time and effort

- Decisions can withstand external scrutiny – saving worry and concern

- Allows accurate post-implementation review of original assumptions, so errors made in this project are not carried over to subsequent projects

Myth#8. It has only limited applicability.

Cost Benefit Analysis is best used in capital purchase situations, repair or replace decisions, and/or funding allocation choices. However, the method if used on these types of decisions is equally at home in large or small, complex or simple and low-cost to high-cost decisions.

Myth #9. It is too costly to implement.

The cost to implement this method across all sizes and complexity of decisions will be relative. Higher costs for high complexity decisions and the opposite is also true. Once the method has been used a few times the cost to apply it to these problems will reduce.

I know this to be true. I have seen it work and have been part of the process.

Myth #10. There are too few examples to learn from.

The Internet is full of examples. From the 1960s airports site decisions, to current events such as the allocation of funding (amount of funds to repair damage from Hurricane Katrina). Also there are numerous references to environmental decisions, allocation of government funds, sighting of school crossing traffic lights, cancer research, railway level crossing expenditure, new dam concerns and the list goes on and on.

In summary, Cost Benefit Analysis is easy to learn and is applicable across a wide range of topics and types of businesses. Take the time to learn how to apply it. Your career, your reputation and your prospects will definitely benefit.

Bruce Hokin
http://www.articlesbase.com/business-articles/cost-benefit-analysis-10-most-common-myths-debunked-96820.html

Free or paid, debt consolidation services are debt consolidation services, right? Wrong! More often than not people fall into the trap, the reason being incomplete information on the industry and inadequate knowledge on how the industry runs. But before we proceed further into the discussion, we must also take into notice the underlying factors that are compelling people to opt for the free services more than the paid ones, the first among which being the high prices taking toll on the customers.

High debt levels and defaulted payments being the prime reasons behind opting for these free services, there are instances that proved a large number of consolidation services to be nothing but scams; however, the silver line is that honest and reliable companies exist, based on whose goodwill the scammers proliferate. Therefore, instead of finding out which is which, it’s always better to keep the free services, unless it’s a direct Government undertaking.

A debt consolidation service is the last straw before one applies for bankruptcy; according to the bankruptcy reform bill, debtors hold the right to participate in credit counseling services or programs. The legitimate and free consolidation services thus help to restore a debtor’s credit.

Debt consolidation services work to grant the debtor the space of making one monthly payment instead of multiple ones; these services pay off the existing creditors and breaks the amount in equal monthly payable amounts that neither does appear hefty to the debtor nor troublesome to repay. And all that becomes possible because these services charge an interest much, much lower than other lenders. However, debt consolidation services, free or paid, make the customers pay more over the long term; lower payments over a longer period typically mean paying more in amount.

One thing to keep in mind: there are no wine and roses story; while some debt consolidation services provide financial counseling for free, they charge for transforming the words into action. The truly legitimate consolidation services charge nominally for it; in case these charges skyrocket, beware. Additionally, getting in touch with the Better Business Bureau shall offer in-depth information on the company that you are planning to opt for. But always remember, debt consolidation services are the final check posts before filing bankruptcy; if you can survive the stress accumulated from a pile of unpaid bills and growing debts, do so. And if you are sure that it is your last way out, do some preliminary research to separate the fakes from the real ones, else you know where false services may lead you to.

Gibran Selman
http://www.articlesbase.com/non-fiction-articles/debt-consolidation-services-free-vs-paid-which-are-better-51372.html

Michael Port in “Book Yourself Solid” recommends an “Always-Have-Something-To Invite-People-To offer.”

In my opinion this strategy is so effective for financial advisors because it melts negatives likes these:

– Prospects may know next to nothing about you and need to ease into a relationship.

– They may worry about being slammed by a crushing sales pitch.

– They may have had a bad experience with someone providing a similar service.

And the list goes on . . .

But suppose you offered something that introduces you and your services with no risk for your prospects! Simply, you showcased your personality and your expertise in one stroke while sitting comfortably at your desk.

One of our favorites is the complimentary teleseminar.

> Why Teleseminars?

We focus on teleseminars for three reasons:

1) Because they are easy to carry out,
2) Because they are super-convenient for your prospects, and
3) Because teleseminars can be free (look at www.freeconferencecall.com)

Now let’s see about designing this marketing tool for maximum results for financial advisors.

> The Hanson Big 5 Tips For Getting The Most From Your Teleseminars

* Big Tip 1 – Rigorously Hold To Your Schedule

Whether it is a weekly, bi-weekly, or monthly basis — keep it in front of you as a marketing tool you’re committed to.

* Big Tip 2 – Give Your Telseminar Series A Title That Sets You Apart

The name should capture what you do. Ours, for example, could be the Stand Out From The Pack Series. A financial advisor’s could be The Wealth Management Center or The Secure Retirement Hub.

* Big Tip 3 – Talk About Topics That Are Gnawing At Your Prospects

An appropriate general title for your teleseminars keeps the door wide open for a multitude of subjects. That means each week you can present a new on-topic teleseminar and, of course, open it up to questions and answers.

A question, by the way, can develop into a full-blown subject for the next teleseminar and you can invite everyone on the spot.

Also, you don’t have to be the only star of the show. You can invite complementary specialists and interview them. The KEY is to provide value – to help listeners solve their toughest problems

And yes, over time, you’ll have a library of topics, and you can repeat.

* Big Tip 4 – Invite The Right People – Whether Few Or Many

Your invitation list doesn’t need to be long – just a handful of prospects is fine. Or even an audience of one.

Sales consultant Chris Mullins ingeniously uses teleseminars as the keystone of her sales process. She may be talking to a prospect on Wednesday. Once she learns what his or her big issue is, she can say, “I’m giving a teleseminar on that topic on Friday. Please join me.” Then, that troubling issue becomes the main subject for her teleseminar that week.

You may be collecting names from your website in addition to prospects from referrals and networking activities. You can invite them all to your teleseminars, too.

Consider inviting your clients. Certain topics may be just right for your clients and serve to deepen your relationship.

As a financial advisor, you may not, though, have Chris Mullins’ flexibility. Your teleseminar script may require approval by compliance, and that means you do have to plan ahead.

* Big Tip 5 – Have A Follow Up Strategy

Many financial advisors stop too soon. The teleseminar provides an opening to move your prospects along. You can send an email reminding them of the opportunity to get the transcript or to listen to the recording.

Or you can follow up with a short phone call or leave a message for them.

The good feelings from a teleseminar well done (always providing value) carry over when you contact your prospects again. In addition, providing teleseminars on a schedule always keeps you in front of your prospects. A big advantage in an overcrowded, overmarketed field!

Shirley Hanson
http://www.articlesbase.com/marketing-articles/for-financial-advisors-a-little-used-marketing-tool-with-outsized-advantages-107961.html

The mechanism of functioning of financial markets is an extremely complex and intricate affair. Indeed, a new entrant in the sphere of finance and investment may find himself rather lost in the maze, and might end up losing considerable amounts of money. This is where professional financial planners and advisors come in handy. In fact, there is quite a number of Atlanta financial planners who can help you arrive at wise, informed decisions regarding your investment. Indeed, the professional help of an Atlanta financial advisor is crucial to the success of your investment plans.

In order to adopt proper investment patterns, finance planners of Atlanta need to be consulted in order to gain access to the requisite finance information. Common investors generally have neither the time, nor the required amount of skill that is needed to arrive at informed investment decisions; hence, professional help is sought for. If you can find a financial planner and hire his/her services, the benefits (in terms of convenience and decision-making) that you can derive is well-worth his/her service charges.

Finding a financial planner is extremely necessary, since the latter can help investors zero in on particular investment goals and then can help them attain these targets. An expert financial planner would be able to evaluate both the potential advantages and disadvantages of any investment project, and can recommend suitable ones for his/her client. Financial advisors also have the required expertise to estimate the restrictions as well as the potential benefits associated with various retirement savings accounts (that are tax-deferred).

In order to reap the maximum benefits from the services of a financial planner, a client needs to provide specific and detailed information about his/her financial position. Clients can also specify whether they want only suggestions and recommendations from an advisor (and make the ultimate investment choice himself), or strong decision-making functions (where the financial advisor takes the decisions on behalf of the client).

Professional financial planners have years of experience in finance market operations. This experience comes in handy for clients, and helps the latter adopt wise investment strategies, irrespective of the overall market conditions. While clients are free to accept or reject the suggestions of his/her advisor, the latter can surely help the former arrive at suitable investment and wealth-building techniques in the long run.

In general, finding an Atlanta financial advisor is beneficial to any investors from that area. However, not all planners are suitable for all types of clients. Every financial planner has their own unique judgment methods and a signature style of choosing investment projects, drawing from the pool of experience (s)he might have. An investor needs to be sure about the exact type of financial advice (s)he requires before hiring an Atlanta financial planner.

Indeed, financial planning in Texas is an arduous task, and does call for the advices of professional planners. There are unique laws in Texas regarding taxation, investment, budgeting, saving and retirement planning. In Texas, the laws related to social security schemes are dynamic, calling for dynamic strategy-making for profitable ventures. Estate planning, annuities and IRA’s are some of the other areas that require special attention of Atlanta financial advisors.

Any investor in Atlanta can benefit from hiring the services of a top Atlanta financial planner. If a client can clearly specify the type of investment advice (s)he needs and have a concrete idea of his/her investment targets, a professional can surely help him/her in their investment decision-making process.

Sam Williams
http://www.articlesbase.com/finance-articles/finance-help-atlanta-financial-planners-721760.html

 The Small Business Recession Plan “B”: How to Create the Six-Part Contingency Plan That Will Help You Guide Your Business Through the Storm

If you’re a small business owner, your list of worries seems never-ending. For starters, consumer confidence is down and your sales are starting to reflect that reality. And as experts predict a deep recession, it’s doubtful things will start looking up anytime soon. Yes, you’ve been wringing your hands and obsessing over the financial news for months, while simultaneously scrambling to keep your customers happy and your business strong. But action is the best antidote for agonizing—and now is the perfect time to create a recession contingency plan that will help you guide your business through any future rough patches.

Too often, when the economy goes south, a small business owner is paralyzed by anxiety and isn’t able to act quickly enough to save his or her company. Having a well conceived contingency plan in place gives you peace of mind when trouble hits and enables you to act quickly.

For small business owners, contingency planning is one of the best and most effective preventive actions you can take in a down economy.

Contingency planning will allow you to make the best possible decisions for your business if things continue to get worse before they get better. Even if you are an eternal optimist—after all, many of us entrepreneurs are—you’ll be wise to have a contingency plan in place if, say, one of your biggest clients succumbs to the bad economy, or if you have to face the difficult decision of whether or not to lay off an employee.
If you’re unsure where to start when it comes to crafting your contingency plan, here is an explanation of the critical elements you’ll want to include:

A People Plan. For small business owners, employees are often like family. That means the most difficult decisions you’ll have to make will probably pertain to them. That said, it’s important that you remain objective when creating the “People” section of your contingency plan:

1. What people assets are critical for you to keep? Why?

2. Who can “afford” a salary cut?

3. Who could undertake more responsibility?

4. Who are your definite keepers?

5. If you had to cut 10 percent of your workforce, what would your severance policy be?

6. How would you treat departing people so as to engender trust, respect, and loyalty of those remaining?

7. How would you implement a people “cut”?

By answering these questions truthfully and thoroughly, it will be much easier for you to make decisions concerning what to do with your workforce during the slow economy. Sometimes cutting back on your workforce, at least temporarily, is a necessary evil. Knowing that when you do so you are simply following a plan will help you manage some of the guilt that will come if you have to let someone go or reduce employee pay.

A Key Customer Plan. It’s likely that your customers are feeling just as much anxiety as you are right now, so it’s best to handle them with kid gloves. Fail to do so and you risk damaging a relationship that will not only help get you through these hard times but which could prove very profitable when things pick back up. Here are a few things to consider when developing the customer section of your contingency plan:

1. Who are your most profitable customers?

2. Who are the most loyal?

3. Who must you keep long-term at all costs?

4. How is the downturn affecting each of your customers?

5. How can you get closer to them?

6. Which customers have pressures of their own that will force them to ask you to cut prices? And how should you respond? Should you extend credit, put them on an agreed-upon payment plan, etc.?

7. What can you do to attract new customers?

You and your customers are in the same boat. They face the same struggles as you. In your dealings with them, it’s important that you strike a safe balance between managing their best interests and managing your own. The contingency plan will help you do that and help you make decisions that will allow you to strengthen your customer relationships now. When things pick back up, your customers will remember the way you treated them and will want to do even more business with you.

A Cost-Cutting Plan. When deciding where you could cut expenses, it’s important to consider what you could do to cut costs immediately by 10-15 percent. You should also go through your expenses line by line and consider which expenses are not necessary for your survival. Be sure to involve your employees when creating this section of the plan. Because they are on the front lines every day, they may have a better idea of what can be cut. For example, maybe they’ve noticed that you have an incoming paper supply that could be reduced. You should also include in your plan what to do if the amount you pay to lease office or warehouse space becomes unmanageable.

Naturally the decision to cut certain expenses will be easier to make than others. Just remember that now is the time to get back to the basics. You don’t need lots of bells and whistles to run a successful business, and taking a look at your expenses will help you separate the necessities from the frills.

A Cash Flow Plan. Cash flow is key to running any small business, and managing yours is never more important than in a tough economic period. That’s why you should include cash flow management in your contingency plan. There are two specific groups to consider: your customers and your vendors. First, think about how you can get delinquent customers to pay up. Talk with your customers and help them set up a payment plan with you so that you know you will be getting paid when you need it most. Also, consider giving a discount to those customers who agree to pay in cash. You should also think about how you can defer your cash outflows such as payments to vendors. Ask if you can go to a 60- or 90-day payment cycle.

Keeping up a healthy cash flow is vital during a slow economy. You might have to have tough conversations with customers who need to pay up or a vendor who you’d like to defer a payment to, but if these conversations help you keep cash in your business when you need it most, they will be worth it.

A Financial Safety Net Plan. So what do you do when all of your customers have paid up and you’ve extended your payments to vendors, and you are still having cash flow problems? Quite simply, you consider more drastic ways of putting cash into your business. It’s time to fall back on the financial safety net that you’ve created for your company. What will your safety net be? Will you draw on your home equity? Stop taking a salary? Ask friends or family for a cash infusion? Sell off some of the company’s assets? Reduce employee salaries? Apply for a small business loan?

You don’t want to be making these decisions when you are already in desperate need of cash. While you are still in good shape, plan out the first three ways you could immediately increase your cash flow. And do everything to ensure that you are protecting your credit so that if you do need a small business loan you can get one. Make certain to pay your bills on time. Don’t let anything fall through the cracks. If you are having trouble making a payment, let the company or bank know why. If there is a dispute on a payment, get something in writing that says you aren’t to blame. Being turned in to a collection agency will tank your credit score. You absolutely can’t risk it.

An Exit Plan. There are some situations you simply can’t plan for. You can’t know for sure how your industry will be affected by the down economy. It’s possible that no matter what you do the slow economy will make it too difficult for you to keep your doors open or too difficult for you to navigate on your own.

The exit plan is the hardest for any small business owner to put together. No entrepreneur wants to give up on a venture, but sometimes you have to face reality. So, think about what lengths you are willing to go to in order to keep your doors open. If you are open to taking on a partner, what kind of person is going to add the necessary skills to the business to help you keep the doors open? Or if you decide to sell the business, would you want to stay on and keep working for the company or would you want to go your separate ways?

Of course, keep in mind how long these transitions will take to make. As a small business owner you naturally have a strong attachment to your business. When you put so much blood, sweat, and tears into your business, it can be difficult to pull the plug at the right time. If you decide what your exit strategy will be before you are experiencing serious problems, you can take your emotions out of the decision-making process and come up with a clear-headed solution that protects your best interests.

Creating a contingency plan will help you minimize the risk of any surprises that pop up—and they will!—during a slow economy. But keep in mind there are some basic things that you absolutely can’t lose focus on during a recession.

You should be aggressively going after new customers, marketing your business nonstop, and giving your customers world-class service. Yes, these are trying times for small business owners, but the obstacles are not insurmountable. With the right plan in place, you can create strong, long-lasting relationships with your customers and a business that can weather any storm.

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About the Authors:

Ed Hess lives in Charlottesville, Virginia, and spent most of his business life advising entrepreneurs and financing their business ventures. He went to college at the University of Florida and to law school at the University of Virginia and graduate law school at New York University. Ed’s professional career was spent with firms like Atlantic Richfield Company, Warburg Paribus Becker, Boettcher and Company, The Robert M. Bass Group, and Andersen Corporate Finance, and he has built three service businesses.

In 1999, Ed began teaching business students part-time at Goizueta Business School, Emory University, during which time he created and taught the entrepreneurship course. In 2002, Ed joined the faculty at Goizueta full-time as an Adjunct Professor where he became the Founder and Executive Director of both the Center for Entrepreneurship and Corporate Growth and the Values-Based Leadership Institute.

Ed has written five other books:

• Hess, Edward D. Make It Happen! 6 Tools for Success (EDHLTD, 2001).

• Hess, Edward. The Successful Family Business: Proactively Managing Both the Family and the Business (Praeger: Westport, Connecticut, 2005).

• Hess and Kazanjian, eds. The Search for Organic Growth (Cambridge University Press: New York, 2006).

• Hess and Cameron, eds. Leading with Values: Positivity, Virtue and High Performance (Cambridge University Press: New York, 2006).

• Hess, Edward. The Road to Organic Growth: How Great Companies Consistently Grow Marketshare from Within (McGraw-Hill: New York, 2007).

In July 2007, Ed joined the Faculty of the Darden School of Business at the University of Virginia as a Professor of Business Administration and Batten Executive-in-Residence where he teaches courses on building small businesses and organic growth.

Charlie Goetz earned his college degree at Emory University and holds an MBA from the University of Texas. Charlie is a successful serial entrepreneur. He built several successful businesses, which in total employed over 1,500 people. He sold most of his businesses and made substantial amounts of money their sales. Charlie then began teaching entrepreneurship at Emory University in the Goizueta Business School where he was again successful. His courses are always oversubscribed, and he has earned multiple teaching awards.

Today, Charlie lives in Atlanta, Georgia, and is an investor in several new businesses and consults with people starting businesses. His specialties are marketing, customer acquisition, and product development.

About the Book:

So, You Want to Start a Business? 8 Steps to Take Before Making the Leap (FT Press, September 2008, ISBN: 978-0-13-712667-5, $18.99) is available in bookstores nationwide and from all major online booksellers.

For more information, please visit http://www.edhltd.com or http://www.ftpress.com.

C. Hand
http://www.articlesbase.com/entrepreneurship-articles/the-small-business-recession-plan-b-how-to-create-the-sixpart-contingency-plan-that-will-help-you-guide-your-business-through-the-storm-681539.html

Your wedding dress:
Start shopping right away. You won’t feel rushed or pressured into buying something and you’ll be able to shop smart.

Simple plain dresses are usually less expensive than the ones with lace, pearls/beads etc..

You could buy a plain dress and add lace, beads etc.. yourself. Or get someone to do it for you.

Rent or borrow a dress. If you like your mother`s, sister`s or friends dress ask them if you could borrow it. But don`t be offended if they refuse as a wedding dress is very sacred to most women.

Look around second hand shops/charity shops. You`ll be surprised at the amount they get given, and they are usually inexpensive.

The venue:
Book the ceremony/reception well in advance you may be able to negotiate a better price then you would if you left it to the last minute.

Have your wedding on off-peak months. November to April rates will probably be reduced. Christmas weddings are more expensive though so if you are planning a Christmas wedding you will have to cut your finances.

Instead of a grand ballroom or banquet hall, think less-expensive venues, like publicly owned buildings and parks, registry office, the church or temple hall, the backyard, the beach, a restaurant’s private room. You may have to get a permit to marry in a public place, but it will be less than a private banquet room.

Catering:
Look around for caterers. Get different quotes before you decide on one.

Choose cheaper entrees, like prawns instead of lobster, vegetables like broccoli instead of asparagus will cut the cost, too.

Cut down on courses. If you’re having a cocktail hour, do you really need an appetizer course? Do you need soup and salad?

Instead of waiter service, have a buffet bar.

Think ethnic! Mexican, Indian, Italian, or Chinese food is fun and much cheaper per person than the traditional wedding menu. See if your favorite restaurant caters.

If you are having a themed wedding create your menu around the theme.

Have the wedding cake only as dessert and eliminate any other sweets (eclairs, pastries, etc.).

Consider a wedding breakfast or brunch (omelettes, muffins, pancakes, French toast), or a tea (a variety of tea flavors, finger sandwiches, scones and jams, etc.) to save money.

The more tiers and decorations your cake has the more expensive it will be.

Buy your own drink it will work out a lot cheaper than paying the caterers or venues prices.

Photos:
Compare hourly fees and package deals to see which is more cost-effective for you.

Give disposable cameras as wedding favours. Then you can get copies of the day’s events from family and friends.

Have a professional photographer take the formal pictures and shoot the ceremony; have guests take all reception photos.

Visit your local college`s photography department and check out some of the students’ portfolios. They will do your photography a lot cheaper and just as good as a professional

Ask friends and family to video the big day for you.

Flowers:
Use flowers that are in season and/or locally grown they’re less expensive than out-of-season flowers that must be shipped to your area.

Have bouquet with just a few large flowers, like orchids, tulips, lilies, or sunflowers, tied with a ribbon.

If you are marrying at Christmas or Easter, your church may already be decked out beautifully.

Arrange to share the cost of ceremony decorations with the couple marrying directly before or after you that day.

Use silk or dried flowers instead of fresh ones in table centerpieces.

Music:
DJs are less expensive than live bands.

Ask a family member or friend’s child to sing at the reception.

Hire music for the evening reception only. People are usually too busy chatting to notice anyway.

Ask at the local college/university for young musicians.

Invitations:
Send invitations that are light enough when completely assembled to require only a single stamp for mailing.

Make your own invitation cards. They are cheaper and more personal.

If you are having a themed wedding make cards to do with the theme.

Transportation:
Limousines are cheap enough to hire for an hour. Find out in advance how long the ceremony will take.

Only hire a limo for the bride and groom; have attendants driven in relatives’ cars, or have them drive themselves in groups.

You might be able to hire a horse and carriage for just as less. Check the Yellow pages for any in your area.

We hope these are of some use to you. Good luck.

Daljit kaur
http://www.articlesbase.com/holidays-articles/budgeting-tips-for-a-christmas-wedding-389029.html