Admin Admin
President Ueli Maurer concluded his presidential visit to the United Arab Emirates and Saudi Arabia on Tuesday, 29 October.
The focus in both countries was on bilateral relations and issues relating to sustainability. The president was accompanied on his visit to Abu Dhabi, Dubai and Riyadh by a delegation from the financial sector.
On Sunday, in the United Arab Emirates, Mr Maurer met with Crown Prince Mohammed bin Zayed Al Nahyan, Prime Minister Mohammed bin Rashid Al Maktoum and Reem Al Hashimy, Minister for International Cooperation and Director General of Expo 2020.
Together with the Minister of State for Financial Affairs, Obaid bin Humaid Al Tayer, and State Secretary Daniela Stoffel from the State Secretariat for International Financial Matters (SIF), he chaired the second round of dialogue on financial policy with the UAE.
He also attended events with experts on fintech and sustainable finance. At an official ground breaking ceremony Mr Maurer was presented with a plot which will be the site of the Swiss pavilion at Expo 2020.
Construction work is set to commence at the beginning of November.
In the UAE, talks primarily served to foster bilateral relations between Switzerland and the United Arab Emirates in a broad range of areas.
Discussions in the field of economic and financial affairs covered the implementation of the free trade agreement between the European Free Trade Association (EFTA) and the Gulf Cooperation Council (GCC), the automatic exchange of information, and the bilateral double taxation agreement.
Questions concerning the rule of law, democracy, human rights, the political situation, and Switzerland’s good offices were raised during talks in both the United Arab Emirates and Saudi Arabia.
In Riyadh Mr Maurer stressed the opportunities for bilateral exchanges and cooperation presented by the ‘Vision 2030’ reform programme, particularly in terms of innovation, education and sustainable finance.
He had audiences with King Salman bin Abd al-Aziz Al Saud, Crown Prince Mohammed bin Salman Al Saud and Prince Badr bin Farhan Al Saud, the Minister of Culture.
The Swiss delegation held a number of bilateral discussions with the Minister of Commerce and Investment, Majid bin Abdullah Al Qasabi, the Minister of Economy and Planning, Mohammed bin Maziad Al-Tuwaijri and the Minister of Finance, Mohammed Al Jadaan, on the further development of mutual relations and specific projects in financial relations and the areas of education, tourism, dual-track vocational education and training, digital transformation and sustainability.
Mr Maurer gave one of the opening addresses at the Future Investment Initiative (FII) conference in Riyadh. In his speech he cited Switzerland’s ambitious system of direct democracy as a political early warning system and highlighted Switzerland’s approach to new technological developments and innovation.
He also spoke about sustainability in society, governance and in the environment, and emphasised the importance of the Swiss education system and its higher education institutions.
Shortly before leaving, Mr Maurer attended a training session of a women’s basketball team accompanied by Lina Almaeena, a pioneer of Saudi women’s basketball. Under the reforms envisaged as part of ‘Vision 2030’, Saudi Arabia is seeking to encourage opportunities for women through culture and sport and to improve their place in society.
In that context, and as a token of thanks for Saudi Arabia’s hospitality, Mr Maurer invited a Saudi women’s basketball team to Switzerland’s National Sports Centre in Magglingen for a week’s training.THE FEDRAL CONUNCIL
تحت رعاية سمو شيخ محمد بن راشد آل مكتوم، نائب رئيس الدولة رئيس مجلس الوزراء حاكم دوبي، ستنطلق فعاليات ملتقى الاستثمار السنوي لعام 2020 في نسخته العاشرة، خلال الفترة ما بين 24 الى 26 مارس المقبل في مركز دبي التجاري العالمي، الذي تنظمه وزارة الاقتصاد، تحت شعار "الاستثمار من اجل المستقبل: استشراف سياسات الاستثمار العالمية".
ويعد ملتقى الاستثمار السنوي واحد من أضخم الملتقيات للمستثمرين على مستوى العالم، إذ يحضر المؤتمر سنويا وفود ووزراء حكوميين وممثلين عن منظمات إقليمية ودولية وكبريات الشركات العالمية كما يستقطب الملتقى رواد الاعمال من أصحاب الشركاء الناشئة والمشاريع الصغيرة والمتوسطة، حيث وصل عدد زوار الملتقى في دورته الماضية الى اكثر من 20300 شخصاً من 143 بلداً.
ويبحث الملتقى في نسخته العاشرة عن الآليات وسبل التعامل مع مستجدات الأوضاع الاقتصادية على المستوى العالمي، وإيجاد السبل الملائمة للتعامل الاستباقي معها، وذلك عبر استشراف التوجهات الاستثمارية المستقبلية، بهدف تشجيع تدفقات رؤوس الأموال للتوجه نحو المطارح الاستثمارية الآمنة والعائدية المجزية.
يتضمن الملتقى مجموعة متنوعة من الفعالية الاقتصادية، منها تسليط الضوء على مبادرة الحزام والطريق التي أطلقتها الحكومة الصينية في عام 2013 في كازخستان وتأتي أهمية تسلطي الضوء على المبادرة الصينية في ان الدول العربية الشرق أوسطية تعد الممر الرئيسي للطريق الواصل ما بين الصين وأوروبا وما يعنيه ذلك من تدفقات استثمارات مباشرة في البنى التحتية للدول الواقع على طريق المبادرة.
كما يوفر الملتقى عبر فعالياته المختلفة فرصة لرواد الاعمال لعرض وتقديم أعمالهم للمشاركين لاسيما رجال الاعمال والشركات الكبرى حيث يوفر الملتقى فرصة لرواد الاعمال والشركات الناشئة للحصول على التمويل الأولى وتوسيع مشاريعهم، بالمقابل يوفر فرصة للشركات الكبرى الحصول على استثمارات ناجحة والوصول الى أسواق جديدة.
للاستفسار ولمزيد من المعلومات: (اضغط هنا)
في اطار سعي الامارات العربية المتحدة المتواصل لأحداث عملية التحول الرقمي، عقد يومي الـ 14-15 من شهر تشرين الأول/أكتوبر، المؤتمر السادس للموارد البشرية وسوق العمل بدول مجلس التعاون الخليجي تحت عنوان "سوق العمل الخليجي في ظل نمو الاقتصاد الرقمي" في مركز اكسبو الشارقة في امارة الشارقة، تحت رعاية سمو الشيخ سطلان بن محمد بن سلطان القاسي ولي العهد ونائب حاكم الشارقة وبحضور سمو الشيخ عبد لله بن سالم القاسي، نائب حاكم الشارقة ونائب رئيس المجلس التنفيذي.
نقدم في هذا المقال موجزا عن فعاليات المؤتمر والتوصيات التي جاءت في البيان الختامي.
تضمن المؤتمر الى جانب الجلسة الافتتاحية ندوتين حواريتين شارك فيها 8 متحدثين قاموا بعرض نماذج وتجارب تطبيقية ومبادرات خليجية في مجال الموارد البشرية، بالإضافة الى ذلك تم عقد جلستي عمل تضمنتا عرض ومناقشة أوراق عمل.
كما شهدت الجلسة الافتتاحية اعلان سعادة رئيس مجلس إدارة غرفة الشارقة اطلاق الغرفة لمبادرة جديدة تستهدف رواد الاعمال وهي مركز المشاريع الصغيرة والمتوسطة (تجارة 101) كما تم تكريم الفائزين في جائزة الشارقة للتوطين الخليجية وتكريم المتحدثين والرعاة، واقيم خلال المؤتمر معرض شملت اجنحته عروض لخدمات وانشطة للعديد من المشاريع الريادية والمراكز التعليمية والأكاديمية.
في ختام فعاليات المؤتمر قدم المجتمعون مجموعة من التوصيات اكدوا من خلالها على أهمية اعلاء قيمة راس المال البشري الخليجي من خلال استثمار القطاعين العام والخاص فيه كما دعى المؤتمرون اتحاد غرف دول مجلس التعاون الخليجي للاستفادة من مباردة غرفة الشارقة بإنشاء مركز (تجارة 101) من خلال تنظيم ورش عمل متخصصة بالتعاون مع كافة الاتحادات والغرف وأوصوا بدراسة إمكانية تنفيذ مقترح إنشاء جمعية خليجية للموارد البشرية وتنفيذ مقترح تأسيس مجلس شباب اعمال دول مجلس التعاون الخليجي تحت مظلة اتحاد غرف دول مجلس التعاون، وتحفيز العمل المشترك بين القطاعين الخاص والحكومي لمواجهة مفرزات التطورات والمتغيرات في سوق العمل الناجمة عن الثورة الصناعية الرابعة والتي جسدها نمو الاقتصاد الرقمي من خلال الاستفادة من فرص التحول في مجال تسريع خطى التنمية الاقتصادية كما اوصى المؤتمرون القطاع الخاص الخليجي للعمل على تهيئة قدراته لمواكبة التحول نحو الاقتصاد الرقمي من خلال نقل المعرفة وتوفير التسهيلات والبنية التحتية التي تدعم قيام القطاع الخاصة بإدخال التنقيات الرقمية في منتجاته، وختم المجتمعون توصياتهم بدعوة المؤسسات والهيئات التعلمية للعمل على موائمة مخرجات التعليم مع سوق العمل الخليجي والسعي لزيادة الاستثمار في المعرفة.
On 16 October, the second APAC (the International Compliance Association) Conference was held in Singapore, and it is an important platform for the global compliance community, when The conference aims to meet the most important challenges on the compliance schedule and is a unique opportunity to connect with experts from 13 international countries.
So this year's conference included a content-rich program including bribery, corruption, anti-money laundering, technology and regulation.
During the two-day panel discussion and event, the participants reviewed the challenges and opportunities created by technology for the financial crime compliance community.
During the opening speech on the first day, Loo Siew Yee (AMD Policy, Payments & Financial Crime, MAS) invited specialists to commit to new methods and techniques to improve AML, Fighting the financing of terrorism CTF and risk mitigation strategies.
Ms. Lu commended the progress made by the industry in the past two years in the use of automation, data analysis and industrial intelligence to enhance the effectiveness and efficiency of controls.
Nevertheless, Lu cautioned financial institutions about the risks posed by the new patterns and that institutions should remain vigilant and cautioned and focused on continuing to develop a strong government, a strong awareness of risks in all areas of defense and effective controls.
In preparation for the licensing of the new Digital Payment Banana (DPT), Ms. Lo announced that MAS has begun to strengthen its supervisory and control capabilities to facilitate proactive detection of unlicensed DPT activities, and to use all “real-time” data to enhance ML / TF risk assessment of licensed entities
Ms. Lu added “Technological advances offer the promise of a more effective, efficient and inclusive financial sector, but present challenging and complex financial crime risks. This conference is an excellent chance to compare notes and share ideas as we make strides towards combating financial crime.”
Helen Langton (CEO of ICA) noted that the quality of the discussions for this year's APAC was tremendous.
It was driven by knowledge sharing and a great networking opportunity with counterparts from more than a dozen countries.
While we see emerging new technologies that continue to disrupt the global financial situation and regulatory landscapek ICA remains committed to strengthening standards, pushing meaningful conversations and preparing our cadres to meet future determinations - no matter what.
أصدرت شركة MAGNITT تقريرها الخاص عن تمويل المشاريع الناشئة في الشرق الأوسط وشمال افريقيا للربع الثالث من عام 2019، ويتطرق هذا التقرير عبر5 محاور رئيسية الى واقع عمليات التمويل الاستثماري واتجاهاته العامة. نقدم فيما يلي ملخصاً عن تلك المحاور واهم ما جاء فيها.
أولاً: تطور اتجاهات التمويل سنوياً
تكشف البيانات الواردة في هذا المحور عن ارتفاع في حجم التمويل يبلغ حوالي 30% عن العام السابق ولنفس المدة، وهو ما يشير الى الوتيرة العالية التي ترتفع معها معدلات النمو في تمويل الشركات الناشئة، حيث بلغ حجم التمويل التي تلقته الشركات الناشئة حوالي 517 مليون دولار، كما بلغ عدد الصفقات المبرمة ال 354 صفقة منذ بداية العام 2019 وحتى تاريخ اعداد التقرير، بنمو طفيف يبلغ 3% عن عام 2018 ولنفس المدة.
ثانياً: مشهد المستثمرين
يشير التقرير الى نمو غير مسبوق في اعداد المستثمرين في الشركات الناشئة ضمن منطقة الشرق الأوسط وشمال افريقيا منذ بداية العام 2019 وحتى تاريخ اعداد التقارير، إذ وصلت اعداد المستثمرين على فئة أصول المشاريع الى 163 مستثمر وتشمل هذه الاستثمارات شركات راس المال الجريء مثل 500STARTUPS وبرنامج التسريع مثل F1AT6Labs.
ثالثاً: التحليل الجغرافي
يوضح هذا المحور التوزع الجغرافي لأعداد الصفقات والمبالغ المجموعة للاستثمار في الشركات الناشئة، واللافت في هذا المحور هو صعود مصر للمرة الاولى الى المركز الأول في عدد الصفقات المبرمة حيث عقدت في مصر حوالي 95 صفقة من اصل 354 لتتفوق بذلك على الامارات العربية المتحدة التي جاءت في المركز الثاني بـ88 صفقة، بالمقابل حافظت الامارات على المركز الأول في عمليات التمويل حيث بلغت اجمالي مبالغ التمويل في الامارات حوالي 320 مليون دولار من اصل 517 مليون دولار وبنسبة 62%، ويشير التقرير أيضاً الى النمو في اعدد الصفقات المبرمة في كل من السعودية وتونس حيث تشهد كل منهما تحسناً في القدرة على توفير البيئة الاستثمارية الملائة للشركة الناشئة.
رابعاً: تحليل القطاعات
حافظ قطاع التكنولوجيا المالية على أكبر عدد من صفقات الاستثمارات في عام 2019 حيث استحوذ هذا القطاع على ما نسبته 14% من اجمالي عدد الصفقات وبزيادة 3% مقارنةً بالفترة نفسها من العام 2018، يليه قطاع التجارة الالكترونية بنسبة 10% ومن ثم قطاع التوصيل والنقل بنسبة 8%، اما عن التوزع النسبي لحجم التمويل فحل قطاع العقارات في المرتبة الأولى بنسبة 19% وبمعدل نمو يصل الى 19% عن العام السابق ولنفس الفترة، يلي قطاع العقارات قطاع التجارة الالكترونية بنسبة 17% اما في المرتبة الثالثة فجاء قطاع التوصيل والنقل بنسبة 16% يليه قطاع الطاقة المتجددة بنسبة 13% وأخيرا قطاع التكنولوجيا المالية بنسبة 6%.
خامساً: اهم الصفقات وعمليات التخارج
يستعرض هذا المحور أكبر 5 جولات تمويل في منطقة الشرق الأوسط وشمال افريقيا في الربع الثالث من عام 2019.
تظهر البيانات المسجلة انه من بين الشركة الخامسة التي حصلت على اكبر عمليات تمويل هناك أربعة شركات مختصة بالتجارة الالكترونية وهو امر متوقع في ظل النمو المطرد للتجارة الالكترونية في المنطقة العربية.
جاءت شركة مكسب المصرية للتجارة الالكترونية في المرتبة الأولى حيث استطاعت جمع مبلغ 6,2 مليون دولار، يليها شركة ecomz اللبنانية التي حصدت مبلغ 4 مليون دولار وهي الشركة المختصة في التجارة الإلكترونية، ثم شركة tem:tem بمبلغ 4 مليون دولار وتختص شركة tem:tem بقطاع النقل (سيارات الاجرة) ، اما في المرتبة الرابعة فجاءت شركة RAIN لتحويل العملات المشفرة والتي حصلت على تمويل بقيمة 2,5 مليون دولار مسجلةً اكبر جولة تمويل اولي تقوم بها أي شركة بحرينية ناشئة، في حين حلت شركة zid السعودية في المرتبة الخامسة مبلغ 2 مليون دولار وتعمل الشركة السعودية بعمليات التجارة الالكترونية المتكاملة.
Even revolutionary ideas need a little help to get rolling. When an entrepreneur has a new business vision, he or she usually needs to raise money for development, marketing, and talent management. Unless the startup founders are high rollers with years of experience, they will look to venture capital and angel investors who will guide them through the first round of funding, the seed stage.
There are a few guidelines that founders should listen to carefully in order to raise seed capital and grow their startup. First and foremost, leaders should be prepared before meeting with prospective investors, and have a list of references who will back the idea.
Founders should get creative with funding, always willing to put themselves out there beyond a comfortable limit.
What Is Seed Capital?
Seed capital rounds differ from proceeding rounds quite significantly. More than a few players are involved, as multiple funds invest an average of $200 to $700K each.
In addition, there are usually a few individual angel investors who invest more than just financially in the company. Angel investors usually get to know the founders and have an interest in the business that transcends the necessary belief in a high return on investment (ROI).
Some distinguished angel investors include serial entrepreneurs and former CEOs who have a track record of bringing businesses public.
The seed stage “plants the seed” for a startup to thrive, in order to launch business operations and show revenue data for the next rounds of funding.
Above All, Be Prepared
Business leaders need to have specified projections and hard numbers ready on demand for venture capitalists before diving head-first into the seed capital round.
A compelling business plan will include strength, weaknesses, opportunities and threats analysis (SWOT). Founders need to have a thorough understanding of how venture capitalists make investment decisions.
Venture capitalists will need to know exactly how much funding a business will need and specific plans for allocating investment resources.
A detailed cost projection will need to be explained and defended. In order to uphold credibility and shield oneself from entering an unfair deal, founders should have a strong idea of how much of the business they are willing to give up.
They should also have a clear concept of the interests and goals of the investors, and an understanding of the capital structure of proposed funding.
Many upside provisions are confusing and if not understood can prevent founders from realizing future profits.
Everything should be based on hard numbers that give best-case and worst-case ROI scenarios to founders.
The numbers will ultimately drive negotiations for the VC's percentage stock ownership.
Rob Go, partner at Next View Ventures, a seed stage investment firm, recommends on the company website that leaders develop a list of supporters prior to meeting with venture capitalists. Founders should identify references and make sure that they are on board, understand the business idea and know what to say when questioned by investors.
Gather Committed Investors
Wait, isn't winning over investors what seed capital rounds are all about? Yes; however, this will be easier if businesses have established themselves prior to seed fundraising. Human psychology has shown time and time again that if someone else already went through the decision process, another will be more comfortable in making the same decision.
No one wants to be the first one to take a risk, even risk-loving venture capitalists. Founders should solidify investor commitments.
This way, when prospective investors make contact, the committed angels can confirm their decision to invest X amount in the startup.
Founders may strategically shoot for relatively small commitments, around $20-$50K.
They should also consider giving reasonable provisions on these promises, such as “provided that the funding round is at least X and reasonable terms are met.” This will make early investors more willing to negotiate, given the downside protection.
Put Yourself Out There
If a founder doesn’t have mentors and angel investors as contacts, they cannot be afraid to get out there and go to the VC community directly.
Networking is the most essential tool and skill that an entrepreneur needs, ahead of business acumen.
Gagan Biyani, the co-founder of Udemy, a platform for online courses, told his story of seed funding wherein he was initially rejected by over 30 top investors. He wrote on the Udemy blog: “I went to every conference I could and literally killed myself while there.
I attending tons of networking events and met as many entrepreneurs and investors as I could."
Startup mentorship programs and incubator firms are open for applications. Y Combinator and TechStars are two well-known programs that churn out a mass of successful startups.
Many programs choose applications that receive on-premise coaching and a small investment to get the businesses off the ground, in turn for a percentage of equity ownership.
Ways to Plant Seeds
In the technology age, it's easier than ever to reach angels, who enjoy using social media channels and interacting with enthusiastic entrepreneurs.
Many lesser-known VC firms focus on local entrepreneurship funding, in counties and communities outside big startup hubs like San Francisco and New York.
Additionally, founders may consider the newly popularized crowdfunding method for raising seed capital. Kickstart.com and many others now act as a platform to match investors and startups.
The Jumpstart Our Business Startups Act, or JOBS Act of 2012, lifted restrictions on investing in early-stage companies so that the common person could have the opportunity to invest.
Companies that aim to raise less than $1 million in total capital can do business with aspiring investors.
source: investopedia
Thanks to international clients, flexible work options for employees, increased travel in a global market and the surging gig economy, a digital workspace is now a cornerstone of the modern business office.
One struggle that organizational leaders face in their respective digital-workspace environments is fostering a sense of connectedness.
A recent story from Small Business Trends indicates that 70 percent of remote employees feel left out of the workplace.
Compounding this fundamental issue is the fact that many organizations are working with limited budgets for what is often an ever-expanding feature, according to the 2018 CMS Wire Digital Workplace Survey.
The ongoing battle to fund competing initiatives or departments is one of the highest-ranking obstacles to developing an optimal digital workspace.
As a rapidly increasing number of employees work remotely and organizations begin to scale, the need for collaborative communication solutions beyond the usual Google Hangouts or Zoom is quickly becoming a top priority.
The search for solutions to create a thriving digital workspace that fosters a sense of inclusion with office-based employees and the general atmosphere of the office has led to unified communications (UC) tools that add value for everyone, whether they're in the same office or on the other side of the world.
Top business and technology-advisory firm Gartner has explored trends in the UC universe and found that companies are expanding its range beyond the on-premises models to move to the cloud, opting for UC-as-a-Service (UCaaS). That shift is happening rapidly, since there is little additional investment required to move to a cloud-based solution according to the UC Magic Quadrant for UCaaS via Gartner.
Executive and IT leaders for businesses of all sizes are enthusiastic about the deployment of UCaaS, citing it as the preferred method of adopting budget-friendly communications solutions that enhance employee cohesion.
In fact, nearly all current UCaaS vendors are using microservices and Infrastructure-as-a-Service (IaaS) architecture to a degree while running media in conventional data centers.
Cloud data centers like Google Compute Engine, Deltapath Managed Cloud, Azure and Amazon Web Services (AWS) are largely hosting these platforms.
Four emerging trends provide organizational leaders exploring UCaaS with a good foundation in their search:
- Globalization. Given the need to reach employees and consultants in remote locations around the world, most providers offer global capacities.
- Improved Interfaces for Enhanced User Experience. Improved dashboards, tools and portals make use easier for everyone.
- Workstream Collaboration. A highlight in UCaaS trends involves workstream collaboration, which provides notifications, messaging, bots and tools that allow teams to effortlessly communicate -- in private or via group chats -- throughout the life of a specialized project.
- Video-Focused User Experiences. Key video improvements include high-definition resolution, collaboration-friendly features and the ability to invite large numbers of participants for video conferences, meetings and calls.
UC innovators continue to examine the needs of today’s business clients and work to answer the most pressing challenges.
The latest trends are set to bring UC up to speed to allow executives and IT teams to streamline communications for a better employee experience, which ultimately translates to better client experience and brand reputation.
source: entrepreneur
It can be hard to navigate the world of finance, much less the highly competitive startup ecosystem.
No matter what age you are, everyone should think about retirement planning, mutual funds, life insurance, savings and tax planning, all of which can be even more difficult if you’re already working to grow a new business (or keep an older one alive) at the same time.
What’s most important is that you plan to make your money work for you and establish financial goals, even if you’re running a company.
Here are five of the best tips financial advisors offer that entrepreneurs can apply to their journey.
1. Develop financial goals.
How much do you want to have in savings? Do you want your money to grow, save for a vacation or buy a home one day? It may not be possible all at while you lead your company, but it is all possible over the long term if you work with your best interests in mind.
If you’re not sure what you’re looking for with your finances or how to ensure a strong financial future, you may want to speak with a certified financial planner. They can help you develop goals and work towards achieving them systematically over the course of several months or years.
It may simply be a matter of putting money away each month. A financial advisor can help you build the strategy to make that happen.
2. Set a budget.
A budget is the core of any financial plan, and for good reason. Without it, you're like a ship without a rudder.
First, take stock of your expenses, including housing costs, weekly food spending, utilities and entertainment, among others. This will be your starting point. From there, look for opportunities to make cuts.
This will likely come in the form of extraneous spending on entertainment, but don’t fear -- you can still see friends and family, go out to dinner and see movies if you want.
You may just have to curb spending overall. Look into a budgeting system that works for you, whether that’s working in a spreadsheet or a financial planning app like Mint, PocketGuard, You Need a Budget or Wally.
One example is to follow the 50/30/20 approach, which allocates 50 percent of your funds to needs, 30 percent to wants and 20 percent to savings.
Your financial decisions are up to you, and setting a budget will help you define those goals and stick to them.
3. Explore investment opportunities.
Consider when you’d like to buy a home or when you’d like to have paid off your mortgage.
Maybe you’ve been thinking about taking more risks with investment, or perhaps it’s the time in your life when you need to be more conservative with investments.
No matter where you are on that spectrum, don’t shy away from exploring investment opportunities.
Look into vehicles like CDs, bonds, stocks and IRAs.
Each has its own benefits and drawbacks depending on where you are in life and the state of your finances.
In general, if you’re younger, it’s a good time to take risks.
If a stock drops off or that investment in Bitcoin (or some other crypto) goes south, you’ll have time to recover.
When you’re approaching retirement, on the other hand, it’s better to play it safe and make sure you don’t take a huge hit right before you move to living on a fixed income.
4. Plan for retirement.
Speaking of retirement, it’s never too early or too late to look forward to a time when you won’t be working.
Your early stage venture may be an all-consuming passion right now, but that doesn’t mean you can’t lay the groundwork for a more quiet future.
In fact, I've met many young entrepreneurs working hard to save enough money so they can retire in the 20s, 30s or 40s.
Develop a savings plan specifically for retirement in an account where your money will grow without you touching it. Decide that money is off limits and stick to that rule.
Start a 401(k) match plan at your company and take advantage of that perk yourself. This can be a huge boost to your retirement-savings account. It also acts as a way for you to stay motivated as you see your money grow.
5. Keep learning.
Financial planning can be daunting, especially if you’re already managing a business. There are so many terms, acronyms, legal implications and steps to take.
From life-insurance policies to money-market accounts, IRAs, stocks and bonds, there’s a lot to learn about. Check out different apps that can make investing and budgeting more enjoyable.
Surround yourself with the right people, like an accountant or financial advisor, who can help you make sense of your current and future finances. Stay abreast of ongoing economic developments, not just in the space your company operates, but in the economy as a whole.
You can do this through audio books, reading online or taking classes.
Try not to get overwhelmed, and take it one step at a time.
Rather than looking at financial planning as a challenge, see it as an opportunity to keep learning.
The state of your personal finances may not be your highest priority, but don’t underestimate the importance of your individual financial future and the potential to keep learning and growing.
source: entrepreneur
The dawn of the 5G era has arrived. While it might seem too soon to go out and drop serious money on a 5G phone, major carriers such as Verizon have already switched on their 5G networks in a number of American cities, including New York Detroit and Atlanta.
The technology offers huge opportunities, especially for startups.
Think of it this way: If you wanted to connect 10 devices to the internet a couple of years ago, you needed a router.
But large-scale organizations with hundreds or thousands of terminals had to invest serious money in sophisticated networking technology to support their network needs.
Going forward, 5G eliminates that problem. It doesn’t require a router, and the towers can handle a million devices within a square kilometer.
The development of 5G technology is similar to the invention of the internal combustion engine.
It changes the rules of the game, and the massive fall in latency and increase in bandwidth will make new business models possible.
More processing will happen on the cloud rather than at device level, exponentially reducing software and hardware costs. And by freeing up the lower end of the electronic spectrum, 5G will make it easier to build a massive network of IoT-connected devices.
The opportunity for telecommunications companies to harness the 5G market is obvious, and they’re moving fast to roll out their networks and get staffs ready for changes.
For example, the FCC is working with the National Wireless Safety Alliance to train the 20,000 skilled workers it will take to maintain towers.
On the other side of that, companies that manufacture routers and provide cable internet services are going to come up against some struggles, but that doesn't mean all doors will be closed to them.
The swift transition to 5G will allow new players to move into old industries and adopt disruptive business models.
For example, consumers didn’t buy into Google Glass when it was launched back in 2013. People didn’t see the point, and the company botched its marketing strategy.
But lower-latency connections and the higher bandwidth that 5G affords will make AR and VR hardware more viable as cloud processing gets faster, making room for innovations that at one time seemed too much like something from The Jetsons.
Mojo Vision and Focals by North are already demonstrating the new potential for a once-mocked form of technology.
Further, the adoption of smart glasses, smart contact lenses and other AR devices will drive software developments.
New devices open new opportunities for software developers to shape the way consumers interact with technology and the world around them.
Apple, Google, Microsoft and Amazon are likely all working in secret on new operating systems for smart devices, but it will be interesting to see which new apps and tech take off and flood the market.
But 5G won’t just shake up the consumer market.
Smart devices and sensor technology have serious industrial applications, so you can bet that oil pipelines, factory floors and warehouses will soon be putting them to good use. The diminishing costs of connected devices will also make it easier to leverage technology to drive real innovation in business models that need it most.
Startups need to prepare if they want to reap the full benefits of the 5G revolution, and they need to start now.
Here are three tips on how to get started.
1. Build 5G into the company culture.
Eleven million people will be using 5G smartphones worldwide by the end of 2019, according to research from Statista, a figure that's expected to hit 627 million by 2022.
That’s a 57-fold increase across the span of three years, and the dizzying speed of that change means that employees will need solid support to adapt.
Training schemes and clear communication strategies are vital for getting everybody on board.
Business leaders can’t assume that everybody will understand what 5G means for the company.
They need to make the innovation a part of the company culture to ensure that everybody buys in.
2. Get everybody on the same page.
Every aspect of a business will be affected by 5G.
A lot of moving parts will need to be coordinated, and old management systems and ways of doing things might have to be abandoned to make companies more agile. Audi has already started working in that "out with the old, in with the new" philosophy by using Wi-Fi to connect the robots on its assembly line, but it has also started testing 5G and expects to roll it out across its German operations in the coming years.
Companies in other industries can learn from this example, too.
They should set up the processes that will enable them to make a success of 5G technology and make sure every department adapts in response.
3. Open new channels for employee support.
According to Korn Ferry research, demand for skilled labor across the world is expected to exceed supply by more than 85.2 million people by the year 2030. Company leaders need to support their employees to ensure they don’t suffer the consequences of that shortage.
There will always be a learning curve for employees adjusting to new technology and processes in business.
Structured support before, during and after the change will ensure employees stay motivated as 5G technology makes its debut. Amazon, for example, is retraining a third of its employees to help them learn automation, machine learning and 5G, ultimately preparing them for the way of the future.
Make a note, too, that training is one part of the change, but employees need to feel like collaborators, not students.
They need opportunities to give feedback and help shape the process.
The widespread adoption of 5G technology will transform the business world over the next three to four years, so companies that want to experience the benefits need to get ready now.
The future, in the case of 5G, depends on the present.
source: entrepreneur
Last Thursday, I was invited by the Saudi National Competitiveness Center (NCC) to the launch of the World Bank report on “Ease of Doing Business” in Saudi Arabia with the participation of senior government officials, leading businessmen and women, diplomats and the media.
I was impressed by the quality of presentation and content.
The Commerce and Investment Ministry, headed by Majid Al-Qasabi, is behind these achievements in cooperation and coordination with other ministries.
It was also a pleasant surprise to listen to the CEO of the NCC, Iman bint Habas Al-Mutairi, who took us through the main drivers behind the enhancement of the business environment in the country.
Saudi Arabia had launched several reforms in eight areas monitored by the World Bank — more than any other country. The report, based on interviews with 50,000 global private-sector executives, found the Kingdom had made the greatest progress in the area of business start-ups.
In terms of indicators, the Kingdom has separate rankings. For instance, in terms of starting a business, the Kingdom ranked 38th.
It was 28th for receiving permits, 18th for access to electricity, 19th for registering property, and third for protecting minority investors. It fared less well for trading across borders (86th), enforcing contracts (51st), paying taxes (57th) and resolving insolvency (168th).
The outcome of this report is in the mainstream of the Saudi Vision 2030 mission, aiming to rely less on oil-based revenues while implementing the aforementioned reforms to maximize revenues from non-oil channels and economic drivers. As for the next level of reforms, in my opinion, we should further enhance transparency, fair competition and good governance.
Sharing my own observations from the initial feedback on this report, there is a certain degree of confusion in the local private sector, which is still experiencing difficulties and challenges in running or setting up new businesses.
Hence, I do suggest that NCC exert more efforts to make the local sector fully aware of these enhancements and how to benefit from them in an efficient and speedy fashion.
The launch of this report is timely with just a week until the Future Investment Initiative (FII) conference, with high-level governmental delegations from the US, Switzerland and India planning to participate.
It should provide a vote of confidence in foreign direct investments in different sectors in the country.
The outcome of this report is something we are all proud of and we should capitalize on when inviting global partners to benefit from the investment opportunities in Saudi Arabia.
source: zawya
