working on online business

Advantages of Online Businesses

Technology has made the world a global village. It is currently estimated that over one billion people across the globe are connected to the internet. The internet is, therefore, a great place that all marketers should target because of the massive presence of the potential customers.

Traditionally, people were used to businesses that location was near where they reside. The internet has opened up the market with many businesses transacting with clients who are thousands of miles away. This takes us to our main topic which is the advantages of online companies.

Easy to start

browsing using a smartphoneUnlike the real businesses, it is easier to establish an online business. What you require is a website which is easy and quite affordable to set up. Setting up a website does not require a huge capital like a physical business which may require you to rent office space and to hire personnel to perform various roles.

Setting an affiliate money site is simple; you need to play the hosting fees and were reviewing the products of interest. In less than six months, you will begin enjoying the fruits of setting up an online business.

Unlimited income potential

When it comes to online business, there is unlimited income potential. Most of the online businesses are built on systems. These systems are every green which means that they do not expire with time. You could earn on a single product for many years to come.

Since the affiliate money sites are built on systems, you can learn these systems along the way which will help you to increase your income substantially. If you get the right systems, you can get unlimited income from the same in future.

Automation

Another advantage of the online business is that it can be automated. This is unlike the physical companies which require someone to do specific tasks or roles. You do not need to speed 18 of the 24 hours every day working on your online business.

You can make use of various tools which will make automation a success. You can link your blog to the social media profiles so that every time you make a post they are posted on your profiles.

No geographical barrier

making purchases onlineOne of the successes of online businesses is that it has broken the geographical barriers. You can reach out to customers across the globe with your service or product.

What you need to do is to make your service or business available in all those locations. Clients can also place an order at any given time. For more insight on the benefits of online businesses, watch the video below:

Continue reading »
banking notes

The Main Functions of Commercial Banks

One of the most regulated industries in the world in the banking sectors. Every country has a regulator that helps in formulation and implantation of policies to do with banking. At a global level, the legislation is done by the IMF and the World Bank. Banks have to observe both the international and domestic standards. Let us look at some of the primary functions of the commercial banks.

Accepting deposits

making cash deposits This is no doubt one of the primary functions of a commercial bank. Commercial banks accept credit from the public and also the government. People can make deposits in the bank as individuals or as groups or society. This explains why we have different types of bank account to take care of the various needs of individuals.

Individuals who are salaried can have a salary account whereas those who plan to save can open a saving account. A fixed deposit account is ideal for people who have vast sums of money and do not want to use it at a given time. They, therefore, keep them in the fixed deposit account to earn interest.

Giving loans

Another primary role of the banks is issuing the loans to its customers. Whenever the customers take the loans, they are usually charged an interest. The interest that is charged by the banks is one of how the banks make money. The banks give the customers loans based on their account deposits.

They also give advance loans based on the money that is deposited on account of the individuals. For banks to give you a loan, you must be their customer and must have some security and guarantors.

Foreign exchange

Another critical function of the banks is that they offer foreign exchange. If you have foreign currency and you would like to get a local currency merely walk into the bank and have the exchange of the same done.

You can also exchange from local currency to an international currency. Banks typically offer better rates than some of the forex bureaus. So you may need to compare the two before you decide on the same.

Agency functions

paying checksLast but not least, banks offer what is referred to as the agency functions. Banks act as representatives of their clients on various fronts. For example, banks collect dividends, bills of exchange, drafts, and cheques on behalf of their customers.

They may also make specific payments on behalf of their customers. Watch the video below for the major functions of the commercial banks.

Continue reading »