Is it right time for New Small Business?

The Unemployment is Increasing As Interest Rates Remain Low.

When the time is right, one is hopeful that his/her banking institution will help finance his/her business' growth.


It's also a time when a lot of people that are being laid off are beginning small businesses to survive.

Is Now A Good Time?

Despite the poor economy, people need products and still want to eat and live.

Dr. Chad Moutray, the Chief Economist for the Office Of Advocacy of the Small Business Administration, believes if a businessman prepares properly there is always an opportunity to be seized.

"Make sure you do your market research, make sure you have a business plan, but most of all be prepared for the market to be down for a couple years if that continues to be the case," Moutray said.
Moutray said with a lot of large business struggling and moving out of some locations that leaves potential spots for small businesses to move into.According to Moutray, now may be a good time to start a business because interest rates are lower.
"Interest rates are nearly 3 percent lower than they were last year, which is significant," Moutray said.

With the economic downturn in the U.S., Moutray has seen an increase in exports and companies trying to make money overseas."That seemed to be working for a while for companies but it appears Europe and some other countries have caught a little bit of our sickness."

According to the SBA, only two-thirds of new businesses survive for at least two years. With the odds stacked against small business owners, a sustained source of income can minimize damaging one's livelihood.

Few Tips

• It would be great to have a second income as backup.
• Take calculated risk. It feels easier to take the risk knowing that I'm only affecting me.
• If you can't stand the heat, get out of the kitchen.
• Most small business owners focus on one niche or area of expertise. Use that knowledge and expertise to surpass the needs of your customers in ways your larger competitors cannot.
• Remember Businesses That Started in a Recession like Hyatt Corp.,Burger King Corp.,FedEx Corp.,Microsoft Corp.,CNN,Wikipedia Foundation Inc.,MTV,GE and HP. Timing matters!!!
  

How to give first aid to a wounded person in time!!!

First aid is a kind of treatment done before a doctor arrives to lessen the pain. A person usually knows first aid guides and steps to temporarily cure a wounded person. Few people knew something about first aid. Here are some steps and tips on how to apply first aid in a wounded person.

Few Tips:

• Determine where the wound is. If a wound is deep like for example a cut done by a knife, you must wash the wound quickly with the proper tools. Use gauze to wipe the wound, even though it may hurt the victim. It is recommended to always have a first aid kit somewhere handy in your home or car for example.
• If the wound continues to bleed, apply a tourniquet about the affected area. Do this quickly before the patient runs out of blood.
• Never apply alcohol in an open wound; the patient may end up twisting in pain.
• Clean the area around the wound with clean cotton. Never clean the area around the wound with iodine.
• Tell the person to relax, tell him/her that the wound is not as bad as before to calm him/her.
• Call a doctor to attend to his wound immediately.
• This is just tips for immediate first aid assistance. This will not completely cure the wound or cut. It may only temporarily stop the bleeding or temporarily lessen the pain. Just remember; never apply an alcohol or iodine unless told by a doctor. After the initial first aid is applied, then consult a doctor to schedule an appointment as soon as possible. If the victim is in to much pain, rush them to the hospital. Timing matters!!!

Timing the market -- A popular 'myth'

Market timing is the strategy of making buy or sell decisions of financial assets (often stocks) by attempting to predict future market price movements. The prediction may be based on an outlook of market or economic conditions resulting from technical or fundamental analysis. This is an investment strategy based on the outlook for an aggregate market, rather than for a particular financial asset.

Nobody really knows the peak and trough -- the market operates on macro-economic factors and the unpredictable human sentiment. The two prominent human sentiments which drive the markets are -- Greed and Fear. When the markets tank, panic grips even the most elite investor into take wrong decisions.

If one looks at aggregate mutual funds or equity data, it is evident that a lot of investments happen near market peaks and investors even pulling out at market lows. Studies on past data of the dowjones have shown that it is almost impossible to time the market.

Few Tips:

• Invest in equities or equity mutual funds with a minimum 3-5 years timeframe.
• Use direct equity if you have the expertise and the time to track the market regularly.
• Don't invest by market sentiment. It is likely to be opposite of what you should be doing.
• If you are starting off in equities, use mutual funds -- diversified and balanced mutual funds are better options.
• Use the systematic route to create a discipline and also effectively average out the cost.
• Align your equity investments with your key long term financial goals.