Happy New Year to all our clients!
New South Wales, Australia — (SBWIRE) — 12/12/2012 — Despite the fact that the whole world is hit by economic crisis, trading seems to have not that affected by it and still finding its way to grow. Obviously, not at the pace that one has seen in the past but still the graph is ticking up, which is a good thing even in this economic crisis. Trading is one of many ways to earn foreign exchange for the country, which means more wealth and progress. However, what matters is that you need to have either buyers from other countries that could buy your product or either you are buying something from abroad, and you are willing to sell it locally. Either ways you need to find both, a buyer and a seller, which is not an easy task at all. For that, you either need to go to a country you are wishing to do trade with and find a seller or a buyer. But that was in the old times, as nowadays there are virtual markets where you can market your product, making trades a lot easier and effective than before.
So if you are looking for a buyer or seller then you should try finding them in the virtual markets that are better known as business directories or B2B portals. ‘Iraq Trade Agency’ is that one B2B portal that could help your business to grow. It offers the best business directories and trade leads from around the world. It is preferred by a number of established, renowned and professional wholesale traders, suppliers and distributors worldwide.
- U.S. Commercial Flights Begin To Iraq: U.S. Ends 16 Year Ban. (politicalvelcraft.org)
- Diplomat: Iran-Iraq Trade Ties to Surpass $12bln (english.farsnews.com)
- Why the war has taken its toll on Iraqi women (guardian.co.uk)
- Iraq to pay Kuwait $500 million within a few days to resolve the outstanding issue of Iraqi Airways (thecurrencynewshound.com)
- Iraq: What was Worth Dying For (wemeantwell.com)
- Spate Of Car Seizures Leaves Iraqis Guessing (rferl.org)
- Governor of Basra, Iraq Providing U.S. Firms with Investment Opportunities (virtual-strategy.com)
It all starts with an idea.
Over time, your idea gathers momentum, causing a cascade of emotions in the process that very few non-entrepreneurs will ever get to experience. Anticipation, excitement and even terror are just some of the words that immediately come to mind; it’s a veritable (self-inflicted) emotional rollercoaster. But deep down you know, your idea will be a success.
My idea for Tourism Radio started in 2005 – probably before then actually, as I had been involved in the tourist industry for some time already. Today, my idea operates on three continents and works with some of the world’s leading brands; creating location-based audio experiences for their clients. I’ve been both financially and emotionally invested in the company for seven years.
But am I still an entrepreneur, or have I crossed over to the realm of a real businessman? A little bit of both I think.
The Hope Factory, a hub for entrepreneurs in the city, hosted two events at North End in a bid to strengthen entrepreneurs’ capacity in growing and sustaining their enterprises.
Sipho Ntlangu, one of The Hope Hub entrepreneurs, said the programme had made a positive impact in terms of business growth.
The Hope Factory launched The Hope Hub a year ago with the purpose of helping small business owners to showcase their products.
“It also provided me with more exposure for business, as many people are now aware of the whereabouts of my business. There is a great potential to increase sales and to make profits,” said Ntlangu.
According to the Global Entrepreneurship Monitor study, there are few South Africans who try their hand at entrepreneurship and only 2.6% survive through the three-and-a-half year mark.
- Google’s New Platform For Entrepreneurs Will Spark A Butterfly Effect (businessinsider.com)
- Rietmark supports Small Business Friday – every day! (rietmark.wordpress.com)
- Small Business Key in Job Creation: South African Minister (awpnetwork.com)
- South Africa looks to its entrepreneurs (business.financialpost.com)
- South Africa small businesses struggle due to gov’t requirements (bikyamasr.com)
- A Youth Encouraged Into Entrepreneurship (onafrikantime.wordpress.com)
- The Secret to Making Money by starting a small business. (lugenfamilyoffice.com)
- 10 Rules Every Small Business Owner Needs (prweb.com)
Government Gazette no. 35090 (the Gazette), issued on the February 29 2012, has fundamentally changed the access the South African Revenue Services (Sars) has to every person’s bank account information.
The Gazette gives notice that in terms of section 69 of the Income Tax Act all “reporting institutions” are required to submit bi-annual returns directly to Sars in respect of all monies “invested with, loaned to and deposited” with the reporting institution, and in respect of interest received by or accrued to any person from the “reporting institution”. The first returns, covering the period 1 March 2012 to 31 August 2012 are required to be submitted to Sars by 31 October 2012.
Accountholders may be lulled into a false sense of security in understanding this to mean that all banks will now simply submit information of all interest paid by the bank to an accountholder directly to Sars, instead of the accountholder being required to disclose the information to Sars themselves. Further reading of the Gazette proves this understanding dangerously inadequate.
Firstly, it is important to note how widely the gazette defines a “reporting institution”. Included in the definition are, for example, all banks (including Postbank), companies listed on the JSE that issue bonds, debentures and similar financial instruments and organs of state that issue bonds (government bonds).
Secondly, that the “reporting institutions” must submit returns for both natural persons and, as per the Gazette, “other persons” which will include companies and trusts.
Thirdly, and possibly of greatest concern, is the information the Gazette dictates each return must contain. Whilst the requirements differ slightly for natural and “other” persons, the issues raised below are common to both.
The returns must disclose for all persons: identity particulars and tax reference numbers, the closing balances of the accounts at the end of the relevant six-month period, any interest amounts received or accrued by the persons from the “reporting institutions” and interestingly, monthly totals of all debits and credits to the accounts.
No clarity has been provided on the use Sars will make of this information. The information at the very least will assist Sars in identifying all persons who should be registered for Income Tax and VAT purposes and the non-disclosure of all receipts and accruals (local and foreign) by registered taxpayers when making provisional payments and submitting returns.
- Christo Wiese’s R2bn tax bill (dikdom.com)
- South Africa’s third wealthiest man owes the taxman $250 million (mining.com)
- SARS Tax season is now on!! (vukosifungeni.wordpress.com)
- New Tax law to give SARS upper hand (mpoverello.com)
- Shoprite boss get’s R2bln Tax bill from SARS (techlabs.co.za)
For years, I’ve been warning that a value-added tax (VAT) would be a terrible idea. Simply stated, politicians would have no reason to control spending or reform entitlements if they had a new source of tax revenue.
In this video, I explain why this European-style national sales tax is a money machine for bigger government.
Small business owners are increasingly diversifying and innovating as they look to capitalise on the busy summer of events in the UK and improve their bottom line, according to Avivas bi-annual SME Pulse.
The numbers of SMEs putting on sales and discounts, diversifying into new areas or reducing overall prices have all increased in the last six months, with the desire to capitalise on the busy summer of sporting and other events likely to be one reason for this.
SA business owners look and learn.
- Benefits Of Partnerships For Small Business Owners (ruralstops.blogspot.com)
- 5 Tech Tools to Boost Your Small Business Productivity (smallbizdaily.com)
- 72% of Americans think business owners DID ‘build that’ (theblaze.com)
- 48 Percent of Small Biz Owners Not Taking Vacations This Summer (smallbiztrends.com)
- UK SMEs Optimistic of Business Upswing in 2012 (simplybusiness.co.uk)
Canada and China launched a joint study during Prime Minister Stephen Harper‘s trip to China in February that is aimed at determining ways to enhance trade and economic activity between the two countries.
The study was to be completed by the end of May, and industry representatives say they have been told the high-level assessment went better than expected.
China has emerged as Canada’s second-largest trading partner after the United States and a major source of foreign investment — including $10 billion into Alberta’s oilsands and B.C.’s shale gas deposits.
Kathleen Sullivan, executive director of the Canadian Agri-Food Trade Alliance, said members of her association had expected the results of the study to be released last week, but the government seems to be waiting for the right moment.
Whenever the results are released, however, the key question will be what comes next.
The storm clouds are gathering once again. After a brief reprieve, the global picture is again starting to look nervous reminding us that the ghost of the 2008 financial crisis is still with us. Crucial elections this past weekend in Greece and France have pushed Europe back into uncertain times. A highly fractured mandate in Greece has thrown the nation into turmoil and a shift of power in France has raised questions over the fate of the European fiscal austerity pact.
The result has been a sharp rise in risk aversion across global markets this week. On Tuesday, the benchmark equity index in Greece tumbled to the lowest levels in 20 years. Greece was not the only market to tumble. France, Germany, Italy all saw a sell-off in equities reflecting the nervousness that has once again gripped equity investors who seem to be shunning risk assets. For India, this does not bode well. Global investors, rightly or wrongly, tend to bunch risk assets together. And so a risk-averse environment is unlikely to leave India untouched.
The return of risk aversion is evident in the bond markets as well. As investors sought safety, money returned to US treasuries and German bunds which are now seen among the safest assets available. German bund yields, which move inversely to prices, have dipped this week. At the same time, US managed to sell 3-year treasuries at the lowest yield in 3 months – a reflection of strong demand for these “safe assets”. This is bad news for capital flows coming into India through portfolio investment. Investors may not pullout money from Indian equity markets but they may not bring in any fresh money either.
The currency markets are seeing a ripple effect as well. As talk of a possible Greece exit picked up once again, the Euro tumbled. The Euro fell below 1.30/$ – a level that the single currency has held on to since January. The fall in the Euro has a direct bearing on all emerging market currencies including the Rupee. As the Dollar strengthens, all currencies adjust to the strength in the Dollar. And so the Rupee has fallen back towards 53.50/$ despite strong intervention from the Reserve Bank of India just last Friday. In the light of the Euro fall, it seems futile for the Reserve Bank of India to try and defend the currency especially at a time when forex reserves are anything but abundant. Yet the markets do expect the RBI to continue supporting the Rupee to some extent.
In all of this, the silver lining may lie in the decline in commodity prices. As concerns around the global economy rise, commodity prices have fallen as well. So crude oil prices have slipped to their lowest levels in 6 months. This comes as a relief to a country like India which is grappling with a wide current account deficit. A large chunk of our import bill is on account of oil imports and even a marginal decrease in oil prices is positive for India. Unfortunately some of the benefits of lower oil prices are taken away by the weaker currency. Still lower commodity prices are perhaps the only silver lining in an otherwise worrying global scenario.
All eyes are now on Europe but also on economic data from the US. Will the political turmoil is Greece die down? How well will France’s new leadership work with the German leadership? And will economic data suggest a moderation in the US economy? Will the appetite for risk assets among global investors return? All questions that will remain crucial for India and indian investors in the days ahead.
That is why you need to acquire one of our Offshore Companies to trade successfully with Africa, Europe and the rest of the world. Please see our menu links above.
- Big Macs provide good glimpse of global economy (pri.org)
- 11 Quotes That Show How Worried The Financial World Is About Europe Right Now (theeconomiccollapseblog.com)