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The Financial Benefits of Working Remotely

Claire James
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<strong data-src=The Financial Benefits of Working Remotely" title="The Financial Benefits of Working Remotely" />

If you are considering a remote working role, you might wonder about the benefits it will bring to your daily life.

Despite some obvious benefits, such as sleeping in later and a better work-life balance, you might be surprised by the many ways it can positively impact your cash flow.

Don’t rule out a hybrid or telecommuting role. Learn about the following financial benefits of working remotely.

HMRC Tax Rebate

It is natural to worry about the financial cost of working from home. After all, you’ll need to use more energy to power a laptop, desktop computer, kettle, or lighting.

Yet, you can relax in the knowledge that you won’t have to foot the whole bill for using household resources.

Remote workers are entitled to a working from home tax rebate from the UK government.

Your tax bracket will determine your annual tax saving, and you will not need to submit a pile of receipts to make a successful claim.

Lower Fuel Expenses

Skipping the daily commute to and from work in your vehicle will lower your monthly fuel expenses.

As you will travel fewer miles per week, you might find you’re filling up your car with petrol and diesel significantly less.

As a result, you can save money on fuel, decrease wear and tear on your car, and potentially extend the life of your vehicle.

A Possibility of Dropping to One Car

If you and your partner live in one home but own two vehicles, remote working could potentially help you lower your outgoings by dropping to one car.

As you will not need to travel to and from a workplace each day, you could share one car instead of paying for two.

Of course, sharing a vehicle will take some careful planning and occasional sacrifice, but it could increase your bank balance and help you achieve personal goals at a quicker rate, such as buying a new home, getting married, or traveling to a dream destination.

Zero Commute Costs

If you don’t own a vehicle and travel to work via bus or train, a remote working role could lower your transport expenses.

As you can skip public transportation in favour of a short walk to your computer, you could save hundreds of pounds throughout the year.

Plus, you won’t have the annoyance of sitting on a busy, loud bus or train at the crack of dawn or following a tiring day at work.

Smaller Clothing Costs

Most remote working roles do not have a formal dress code to follow. As a result, you will likely need to spend less money on professional workwear, such as blouses, shirts, suits, and dresses.

Instead, you can spend your hard-earned money on clothing you are more likely to wear during your spare time, which will stretch your cash further.

Plus, as no-one will see you from the waist down, you may only need to buy a formal top when wearing more comfortable jeans, jogging pants, or shorts.

What is tax avoidance?

Sam Allcock
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What is tax avoidance?

From Income Tax and National Insurance to Capital Gains Tax and Inheritance Tax, there are many different types of taxes in the UK. Sometimes taxes are taken automatically, but in other instances, they need to be declared to His Majesty’s Revenue & Customs (HMRC).

For example, if you’re self-employed or you receive income from other sources, it’s imperative that you understand what taxes you’re expected to pay. You need to declare any income to HMRC, who will then be able to work out how much Income Tax you owe and when you need to pay it.

For the tax year 2019/20, HMRC estimated that the cost of tax avoidance in the UK was £1.5 billion. Not only does this hurt the tax office, but some people argue that paying tax is a moral obligation in order to have a functioning society.

Taxes can be a tricky subject to wrap your head around, which means that, unfortunately, mistakes can happen when it comes to paying your tax bill. From seeking advice from an accountant to downloading a tax app, there are plenty of ways you can get help with your taxes, but to give you a head start, we’ve written this article, which explains what tax avoidance is and how it differs from tax evasion.

What is the meaning of tax avoidance?

If a company or an individual reduces their tax bill legally, it is known as tax avoidance, and it can be done either morally or immorally.

Saving into an Individual Savings Account (ISA), for example, is completely legitimate, whereas bending the tax rules to gain an advantage is viewed as immoral tax avoidance.

Continue reading to find out more about tax avoidance.

What are some examples of tax avoidance?

There are many different types of tax avoidance. Some of the legitimate ways to avoid paying more tax than you need to include:

  • Paying money into an ISA
  • Investing into a pension scheme
  • Claiming business expenses

Some of the more immoral forms of tax avoidance are:

  • Income exclusion
  • Taking advantage of legal loopholes

While tax avoidance is legal, the government disapproves of the more immoral forms of tax avoidance, describing it on its website as trying “to gain an advantage that Parliament never intended” and that it “involves operating within the letter, but not the spirit, of the law”.

What is the difference between tax avoidance and evasion?

As stated above, people often confuse the term “tax avoidance” with “tax evasion”. To help clear things up, here’s the difference between the two:

  • Tax avoidance — A way of avoiding paying tax, but in a perfectly legal manner.
  • Tax evasion — A way of avoiding paying tax in a completely illegal manner. This carries severe penalties in the form of hefty fines and prosecution.

When it comes to tax avoidance, one of the biggest things to be aware of is that crossing the line into tax evasion is extremely easy to do.

What are some examples of tax evasion?

Tax evasion can take many different forms, such as:

  • Claiming tax credits that you are not entitled to.
  • Dealing in cash with no receipts to avoid leaving a paper trail.
  • Disguising personal expenses as business ones.
  • Failing to submit a Self-Assessment tax return.
  • Hiding money, shares or other types of assets in an offshore account.
  • Not paying VAT on sales or business.
  • Underreporting or failing to report income or revenue to the tax authorities. This includes things like tips and bonuses paid by your employer.

What is a tax avoidance scheme?

A tax avoidance scheme is where money is deposited into a separate bank account to avoid paying tax on income. Usually, the account will be in another country.

Tax avoidance schemes are legal, however, there are fears that they can lead to tax evasion. Many tax avoidance schemes have been shut down by HMRC for this reason. If HMRC finds that a tax avoidance scheme actually amounts to tax evasion, the person using the scheme may end up having to pay more than the tax they tried to avoid. This is because of interest and fines on top of repaying the National Insurance contributions and Income Tax owed.

Before you sign up to a scheme, it’s best to seek help from a professional. HMRC also advises against joining a scheme if you spot any of the following warning signs:

  • Claims about being HMRC-approved — HMRC does not approve tax avoidance schemes
  • HMRC has given the scheme an SRN (Scheme Reference Number), which means it’s being investigated
  • It sounds too good to be true
  • Money goes around in a circle, or transactions have no apparent commercial purpose
  • Non-compliant umbrella companies that promote tax avoidance schemes
  • The benefits seem to outweigh the cost of the scheme to you
  • Workers are paid in the form of a loan or other untaxed payment (such as a grant or an annuity) that they’re not expected to pay back

What are the penalties for tax avoidance?

It should be clear by now that tax avoidance is not a criminal offence, although forms of tax avoidance that use tax laws in ways that aren’t intended by the government are often heavily criticised by the media and the public. 

Businesses and corporations that avoid tax can suffer online outrage and boycotts of their products.

Some examples of companies whose reputations have been damaged by tax avoidance include Amazon, Google and Starbucks.

What are the penalties for tax evasion?

The penalties for tax evasion depend on the severity of the case. They can be financial, criminal or both, and in some instances, can result in a prison sentence of up to seven years and unlimited fines.

Cheating public revenue is a much more serious offence that carries a maximum penalty of life in prison and an unlimited fine.

If you believe you are guilty of tax evasion due to a genuine mistake or a lack of understanding, you should contact HMRC immediately. As long as you repay any tax you owe, it’s unlikely that they will impose a penalty.

Summary

Tax avoidance is where a company or an individual reduces their tax bill legally. This can either be done morally, such as saving into an ISA, or immorally, by bending the tax system rules to gain an advantage. The government disapproves of the more immoral forms of tax avoidance, describing it on its website as trying “to gain an advantage that Parliament never intended” and that it “involves operating within the letter, but not the spirit, of the law”.

When it comes to tax avoidance, one of the biggest things to be aware of is that crossing the line into tax evasion is extremely easy to do, meaning you could face a maximum penalty of seven years in prison and unlimited fines.

How to localize your business to succeed in Italy

Sam Allcock
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<strong data-src=How to localize your business to succeed in Italy" title="How to localize your business to succeed in Italy" />

It is essential to do your homework and take nothing for granted when exploring international business opportunities. Whether you’re buying a business or starting a new venture, knowledge is power. With that in mind, let’s explore how to successfully connect with Italian consumers when launching a business in Italy.

Italian economic snapshot

Italy’s economy is weathering the current global instability rather better than the economies of many of its European counterparts. The OECD projects that the Italian economy will grow by 2.5% in total in 2022, underpinned by core manufacturing efforts and a push towards becoming a greener, more digital economy.

As is the case in many countries, Italy’s business environment is made up of mainly small and medium sized enterprises. These account for 99.9% of all Italian businesses. It is a country of artisan enterprises with a culture that welcomes those who show their entrepreneurial spirit.

Key business sectors in Italy include telecommunications, transportation, pharmaceuticals and energy. The country is also known around the world for its food, wine, fashion and beauty exports, along with vehicles, furniture, electrical goods, machinery and a range of other products.

That said, Italy is also known for its bureaucracy. So, while the country is encouraging foreign businesses to invest, any company that plans to do so should become familiar with the documentation requirements and timescales involved.

How businesses are using language service providers

Both companies looking to gain a foothold in Italy and Italian companies with international expansion plans rely on language service providers to achieve their goals.

How Italian businesses are using language service providers

Luxury carmaker Ferrari, energy conglomerate Eni, financial banking Giant Intesa Sanpaolo and electricity and gas distributor Enel all rank among the most valuable companies in Italy. To connect with non-Italian speaking audiences, such businesses rely on Italian translation services to deliver word-perfect copy that matches the quality of the documentation produced for their Italian-speaking customers.

Such large-scale brands cannot afford mistakes when it comes to their Italian translation. Whether they are undertaking Italian to English translation or working with any other language pair, mistakes can be costly in terms of reputational damage.

The same is true for smaller enterprises that are pursuing international expansion goals. Mistranslations can be at best embarrassing and at worst hugely damaging. A pertinent question then, is: What is the most accurate Italian translator? Note that the priority here is accuracy, not price. For business documentation, the most accurate Italian translator would be a professional, qualified human translator with extensive experience in the business world.

Machine translation may be cheaper but opting for Italian translation through an agency is likely to result in superior quality. How much does it cost to translate a document from Italian to English? That depends on the length of the document. Translators charge either per word (most common) or per page, so be sure to compare agencies that quote in these different ways to get an idea of the cost of your translation.

How global companies are relying on Italian translation

For companies seeking to enter the Italian marketplace, language service providers can help to localize their business for Italian audiences. Investing in a business venture in Italy can open access to the European Single Market. Italy’s geographic proximity to northern Africa and the Middle East is also a key attraction for many companies. But businesses first need to win over customers in Italy itself. Language plays a fundamental role in doing so.

According to language services provider Tomedes, a one-stop-shop for solving global businesses’ main pain points, supporting a new venture in Italy involves a range of translation disciplines. Selecting an agency based on Italian translation alone won’t cut it. Businesses also need legal expertise, for legal translation relating to securing their product, and technical, SEO and content expertise for their website translation. Website localization skills are also a must for localizing your website to the Italian market.

For WittySparks, an online digital and content marketing platform, developing your local Italian SEO strategy is essential to gain access to 50.85 million users. It makes the business website more visible online, increasing traffic and conversions. To rank in local SERP, you must constantly evolve your tactics and provide relevant information about your business by optimizing your profile.

Once you have created a strategy, you can start developing content that works well with it. Even BlogHandy, a company specializing in blogging integration programs, saw how blogging has become essential for all marketing endeavour. To establish your business as relevant to your Italian users, you will have to tailor content targeting them. Not just translating blog articles from English to Italian. By optimizing it with local SEO, your articles will get the engagement you want.

Nor do the Italian translations stop there. There’s also the need for marketing translation (on an ongoing basis) to target local audiences and digital/SEO translation solutions for increasing brand awareness and supporting sales. Customer service translation is also a must for any business that needs to provide aftersales support. The firm recommends using native Italian translators to achieve the best translation results.

The challenge of translating content for Italian audiences

Businesses that are new to Italian translation will need to factor solutions to a few linguistic challenges into their plans. Italian uses more words than English to convey the same message. This can impact everything from product labels to website display requirements, so needs careful consideration.

Adding to the challenge is that Italian is often less direct than English. It takes more words to express the same concept, sentiment, idea, instruction and so on without losing the meaning. Again, this drives a need for careful thought, particularly if translations are to be used for things like pay-per-click advertising where strict character limits are in place.

None of this is insurmountable with the right Italian translation company on board. Just be sure to put time into finding the perfect agency to support your business to succeed in Italy.

7 Ways To Get Free Bitcoin Fast and Legit

Sam Allcock
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<strong data-src=7 Ways To Get Free Bitcoin Fast and Legit" title="7 Ways To Get Free Bitcoin Fast and Legit" />

In 2022, who doesn’t know about Bitcoin? Bitcoin development has jumped by more than 200% since 2021.

Many people are searching for methods to obtain free Bitcoin or other forms of cryptocurrency.

7 Ways to Get Free Bitcoin Fast:

1 – Cloud mining

The concept of “cloud mining” was created to make it possible to mine cryptocurrencies using rented cloud computing resources without downloading or directly employing any particular software or hardware. People can register for an account, make a little payment, and start mining bitcoins from a distance. As a result, mining is now more accessible and profitable for a wider range of consumers due to cloud mining enterprises.

bytebus.com – One of the best cloud mining platforms of 2022.

Bytebus, one of the first companies to offer cloud mining services, was founded in 2018 and had more than 360,000 customers globally. You can easily mine for clouds by signing up for Bytebus.

Features:

  • Register to receive $10 right away.
  • Earn money without investing.
  • Daily plans are available for purchase.
  • Daily rate 2%-10%
  • No fees for overhead and power.
  • The knowledgeable crew provides 24/7 customer service.
  • Mine more than ten coins using the platform
  • To protect the system, DDoS and SSL are employed.
  • Make prompt withdrawals from your account and daily payments.

To learn more about Bytebus, visit https://bytebus.com/

Twitter: https://twitter.com/bytebusUK

Facebook: https://www.facebook.com/bytebusUK/

Youtube: https://www.youtube.com/watch?v=F-EPwao6ZLQ&t=40s

2 – Referral program: Earn bonuses by referring friends

You can earn money through various bitcoin referral program by directing customers to their website or app. Referral program membership is free. After making an account, you will be given a unique URL. Spreading the URL on websites, blogs, forums, and social media is up to you. You will be compensated whenever someone signs up or purchases through your link. The ability to get started quickly and make money is the main advantage. Furthermore, money would keep coming in for days, weeks, months, and even years after you put in all that effort. If you already run a website or have a sizable following on social media, a Referral program might be a great way to earn some good passive money.

You can start making money even if you don’t invest. You are qualified to receive a 3% referral commission bonus for each purchase completed by one of your referrals. So, for example, if some users used your referral code to make a $100 purchase, you would receive $3 for free.

To learn more about referral program, visit https://bytebus.com/referralprogram

3 – Airdrops

What are Airdrops? In short, crypto airdrops allow a cryptocurrency company to share its crypto for free to increase the company’s name. Airdrops are part of their marketing.

Here, We will share a trick to get airdrops that are easy to sell.

Usually, to get free crypto from a company that does airdrops, you will have to do a few things. Example:

  • Liked Facebook page
  • Liked Youtube page
  • Liked Twitter page
  • Liked Instagram page
  • Follow the Telegram channel

However, people participating in airdrops cannot immediately or instantly get these tokens. Usually, the company will distribute its tokens within two months or so for the vesting period (vesting period).

These tokens usually cannot be sold immediately because no well-known exchanges register the crypto coin. Tokens are very rare to be directly listed on a crypto exchange.

4 – Coinmarketcap

Who would have thought this site also gave free crypto? No responsibility; you sign in and immediately get crypto as a diamond.

Unfortunately, there are several steps you have to take to get free money.

The diamond cannot be sold or exchanged for Bitcoin or another crypto. However, you can still get free Bitcoins.

Check this link to see what items can be exchanged for Coinmarketcap Free Diamonds.

If you have seen, Diamond from Coinmarketcap can give you NFT that can be sold for thousands of dollars.

Not only giving away free Bitcoins, but CoinMarketCap is also giving away free money and another crypto with the Learn-to-Earn feature, and you can earn money.

5 – Staking

What is Staking?

Staking can be likened to a deposit in a bank. You save, and you will earn the crypto.

Example:

If you are staking BTC, you will also be rewarded with BTC.

The best platform for staking right now is Binance. But, unfortunately, other brokers lost far from the number 1 crypto broker.

The results of Staking cannot be underestimated. For example: Currently, Binance is providing 40% APY Staking for $CAKE tokens (pancakeswap).

Imagine if you have 1000 CAKE, you can make 400 $ CAKE, which can be sold for the equivalent of US $ 1600.

Unfortunately, Staking also has a drawback, namely price. You must have the capital to get a lot of cryptos.

Another drawback is the price when selling. For example, the cost of $CAKE is selling at $20 in 2021; if you stake and don’t sell, you will lose because in 2022, in September, the price of $cake is only $4.

Considering you are reading this, you are a beginner. If you’ve signed up on Binance, no matter how small your coins are and you can stake them, do it immediately.

6 – Bounty

Bounties are rewards when you do something at a cryptocurrency company.

Usually, you will be rewarded with crypto if you write or promote the company’s token.

The easiest thing as an Indonesian is to promote the crypto company in your telegram group or translate their White-Paper into Indonesian.

The bounty rewards are also quite large; some can give you $200 worth of their tokens.

7 – Admin Telegram

Working is one way of getting free Bitcoins in the crypto world. How come? Almost all crypto companies are overseas; with cryptocurrency payments, they can save on transaction fees as well as costs.

Almost all big companies need their admin on Telegram because the platform is a gathering place for the crypto world.

Admins on Telegram are usually paid using company tokens to save their fees.

IM Academy Students Study Stocks and Futures as Markets React to Rising Interest Rates

Claire James
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<strong data-src=IM Academy Students Study Stocks and Futures as Markets React to Rising Interest Rates" title="IM Academy Students Study Stocks and Futures as Markets React to Rising Interest Rates" />

In September, IM Academy, an online educational platform specializing in financial education resources, announced the launch of its newest academy. The academy, called SFX, focuses on the stocks and futures markets and features a curriculum and lessons designed by Carolyn Boroden, an experienced analyst known as the “Fibonacci Queen” for her approach to utilizing Fibonacci ratios to analyze market charts. She’s a favorite of CNBC star Jim Cramer who often turns to her interpretation of market charts for stock insights.

IM Academy’s decision to focus new educational content on stocks and futures comes at a crucial time for those interested in engaging in these markets. Stocks and futures are experiencing significant volatility in response to inflation and rising interest rates. According to a CNBC report, the S&P 500 stock index recorded a closing low for 2022 in September, while the Dow index dropped to 20.4% below its January 2022 high point. The report noted that the CBOE Volatility Index, known as the VIX, hit its highest level since mid-June, rising three points to reach 32.70 at the end of September.

In such periods of market volatility, it’s crucial that market participants engage with a broader understanding of how factors such as interest rates, inflation, and speculation influence the market, and how strategies can be adapted to short-term and long-term swings.

SFX Academy was created to provide this sort of education, offering IM Academy students resources to study how various factors impact the stocks and futures markets, as well as tools to analyze market movement and implement engagement strategies at a variety of timescales.

About the Stocks and Futures Markets

The stock market enables participants to engage in exchanging shares of public companies. The share price for a company can be affected by anything ranging from earnings reports to mergers and acquisitions, new product launches, and broader industry trends. Stocks are also often affected by monetary policy decisions, such as those implemented by the U.S. Federal Reserve, as well as international policies affecting currency prices and broader trends in the global economy. As such, the stock market is complex, requiring nuanced study of the interrelation of several factors for strategic engagement.

Futures are financial contracts that dictate that the holders of the contract exchange assets or securities at a predetermined price at a set date in the future. These contracts are exchanged in the futures market, with participants speculating on whether the predetermined future price of the contract is set too high or too low. Participants also use futures contracts as a means of hedging positions for risk management purposes.

At IM Academy, students study how these markets work in detail, with an emphasis on the importance of time-based considerations, as well as on the importance of gaining a foundational understanding of how and why markets move.

How Do Interest Rates Affect the Markets?

Because of the complexity of the markets, there is no one definitive way in which rising interest rates impact all stocks and futures. However, in general, when interest rates rise, as we have seen in 2022, stock prices tend to decline over longer time frames, with a ripple effect in the futures market.

This is because higher interest rates discourage companies from borrowing, meaning that they will devote less capital to growing their assets and will display a slower rate of growth in earnings. In other words, future earnings are valued less as interest rates increase.

However, not all stocks are affected in this way, and within a longer time frame of decline, a stock may experience several ups and downs that intraday market participants try to identify.

IM Academy students studying the current market at the SFX Academy learn to read market charts to analyze these potential high and low points and adjust engagement strategy accordingly. IM Academy teaches its students that the key to market engagement is studying a variety of factors when analyzing points of entry and exit from market positions.

Studying Stocks and Futures at IM Academy

The SFX Academy teaches IM Academy students through both asynchronous learning materials and live mentorship opportunities. It provides readings and recorded lectures, as well as GoLive sessions, in which students can engage with IM Academy educators and solidify their understanding of topics covered in their individual studies.

The academy progresses through three levels, with several 100-level, 200-level, and 300-level courses. At the 100 level, IM Academy students learn the basics of stocks and futures, with lessons on what these assets are, how they are exchanged, and who participates in the market. The 200-level courses discuss more advanced topics in market engagement strategy and risk management, while the 300-level courses move on to a more nuanced discussion of strategies such as Fibonacci retracement, which utilizes pattern-derived ratios to analyze high and low points in market activity.

In addition, IM Academy students who sign up for the SFX Academy have access to IMPulse, a proprietary scanner that analyzes dozens of market variables and distills this information to indicate trends in market activity and momentum via simple graphics. Using IMPulse, IM Academy students can study both how stocks and futures prices are behaving and the rate of market participation over a variety of time frames, from intraday to more long-term scales.

IM Academy’s goal in providing these educational resources and analytical tools is to give students an opportunity to study stocks and futures markets on their own terms and determine what approach to market engagement works best for them. Given the current market climate for stocks and futures, thorough study of the complexity of these markets has never been more important. With SFX Academy, IM Academy is aiming to provide students with the tools to engage in this sort of thorough market study.

Note: IM Academy is an educational forum for analyzing, learning, and discussing general and generic information related to markets and strategies. IM Academy does not provide personalized recommendations or views as to whether a market approach is suited to the financial needs of a specific individual. Before deciding to participate in the forex or other markets, you should carefully consider your objectives, level of experience, and risk. Most importantly, do not risk money you cannot afford to lose. You should take independent financial advice from a professional in connection with, or independent of, research — and verify any information you find on the IM Academy website.

Melissa Simon-Hartman’s Remarkable Career Break After Being Accredited by Beyoncé’s Official Website

Sam Allcock
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<strong data-src=Melissa Simon-Hartman’s Remarkable Career Break After Being Accredited by Beyoncé’s Official Website" title="Melissa Simon-Hartman’s Remarkable Career Break After Being Accredited by Beyoncé’s Official Website" />

Melissa Simon-Hartman owns the luxury handcrafted statement pieces brand in London. Her label, Simon-Hartman, was initiated in 2009. Melissa was not only passionate about fashion and creating her own clothing line. She was also academically qualified from the prestigious London College of Fashion, where she earned her degree in Theatrical Costume Fashion.

Driven by her passion and having studied costume fashion with expert designers, Melissa decided to launch her accessories and footwear. What distinguished the Simon-Hartman brand from others was Melissa’s unique vision of creating ‘wearable art.’ It was her objective to create astounding pieces that were unique, astounding and elevated the personal style of the wearer.

Melissa launched her first footwear line in 2013 during Mercedes Benz Fashion week, which was held in Berlin. The footwear line received a positive response from the audience, and many were impressed by the bespoke pieces designed by Melissa. After the immense success in Berlin, she launched her clothing line.

Her outfits are hand-crafted, and a lot of attention is given to tiny details to spruce up the piece. Simon-Hartman’s label began to grow and attract the attention of production houses and theatres. She designed costumes for stage, theatre & TV performances in Shanghai, Beijing, Italy, Martinique, Beijing, and the UK on X-Factor. 

But, the most significant break of her career was designing black chess pieces outfits for Beyoncé for her song, Mood 4 Eva, in Black is King. 

It all began when Melissa was approached by Zerina Akers on Instagram. She asked Melissa if she was interested in working on a project with her. Zerina was a renowned stylist for Beyoncé for many years, so she agreed instantly. That marked a significant point in her career.

Melissa was commissioned to create 7 looks for the project in 2 weeks. All 7 of her creations made it to the final cut. Moreover, Beyoncé wore a complete look that was conceptualised and created by Melissa. This attracted a lot of attraction and followers to Melissa’s Instagram handle. 

In an interview with Monkmusic.co, Melissa was asked about her emotions about her costumes worn in Mood 4 Eva, and this is what she said:

“I was elated. The biggest emotion, I would say, was a relief. Relief and excitement. Relief because I wasn’t entirely sure if my designs were used or how much of it was used. I was given an indication that it would be, but I wasn’t certain…It was an electric feeling to see all that hard work I put into my designs was being appreciated for what can be described as a historical project.”

After this project, there was no stopping for Melissa; her brand was approached by many renowned artists and celebrities. She created mind-blowing costumes for Doja Cat for her music video Woman. Besides, her work was featured in Vogue, Harper’s Bazaar, The Cut, and GQ Magazine. She also got an opportunity to provide carnival costumes and featured in the campaign by Samsung UK who were the official partner of Notting Hill Carnival in 2019.

Her biggest project in 2022 was working as a designer for the Royal Shakespeare Company for their production Much Ado About Nothing premiered at Royal Shakespeare Theater, which resulted in an invite to Buckingham Palace to meet King Charles who is a patron of the RSC. Later in 2022, Melissa’s work was featured on Beyoncé once again. This time for her Renaissance Album release.

Melissa’s unique and uber-luxury statement pieces can be found on her website. Melissa also shares snippets of her personal and professional life on her social media handles. You can follow her to stay updated about her latest projects, designs, and collaborations with famous celebrities and brands.

Instagram: @MelissaSimonHartman

Facebook: @Simon.Hartman.London
Behance: @MelissaSimon-Hartman
Website: https://www.simon-hartman.com/

Are New-Builds The Answer To Housing Shortage?

Sam Allcock
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Are New-Builds The Answer To Housing Shortage?

Despite the number of new-build developments continuing to rise, sales have decreased – with the current property market volatility are new-builds an effective solution in combating the housing shortage faced by the UK, or are they too expensive for house buyers? 

Finbri, a property development finance company, explains, “The housing shortage has arisen because of sustained population growth (estimated to increase 3.2% in the next decade), and a lack of homes, plus the government continuing to under-supply their ambition of 300,000 dwellings a year. The affordability crisis and the ongoing mortgage crisis has also had a robust impact in the last two months after the fallout of the mini-budget. As a result of this many are finding themselves priced out of the property market and having to enter the volatile rental market. New builds continue to be developed, but are they too expensive for house buyers in this current climate?”

Can new-builds fill the housing deficit faced by the UK?

This year so far has seen a 16% increase in new-build completions in comparison to the same period last year, finally reaching pre-pandemic levels. Considering the modern luxury found with new-builds, the ‘net zero’ target by 2050 and tightening restrictions on EPC requirements – it’s not surprising that these developments are desirable to some new buyers. 

Property chain-free – Property chains are known for delays and issues that would ultimately cost all parties involved. In the midst of uncertainty, property chain collapses are predicted to increase further – by purchasing a new-build property buyers can avoid this potential issue. This has encouraged buyers to opt for new-build properties over existing ones. 

Reduced household bills – New-build properties are built to reach maximum energy efficiency, which means they are typically cheaper to run. Compared to existing properties that most likely have a lower, and therefore worse, EPC rating, resulting in higher household bills – a key issue exacerbated by the impact of the cost-of-living crisis. 

Government schemes – To present more affordable housing to combat the housing deficit, various incentives were introduced to encourage new-build purchases – such as the Help to Buy scheme. This has increased accessibility for those looking to enter the property market. 

Most new-builds are sold at 37.3% more – Compared to existing properties on the market which is great news for developers, but only if the property sells. The added luxury that comes with a new-build property comes at a price and with mortgage rates rising, new-builds are likely to be out of the grasp of average house buyers currently.

Are new-builds the answer to the housing crisis?

There are around 44,000 vacant houses in England, and with a low number of new-build sales, the housing crisis issue seems to be continuing despite the growing number of new property completions. Many locations have a high number of vacant properties in comparison to new-build sales; this includes: 

  • Birmingham – has 496 vacant properties in comparison to 337 new-build house sales.
  • Liverpool – has 4,880 vacant properties in comparison to 114 new-build house sales.
  • Sheffield – has 2,838 vacant properties in comparison to 44 new-build house sales. 
  • Leeds – has 2,693 vacant properties in comparison to 274 new-build house sales. 

National Statistics Data show that cities in the Midlands appear to be struggling the most with new-build house sales in the current environment. Nottingham has only recorded two new builds sold so far in 2022, and Leicester has only recorded six.

Unaffordability with existing properties – with the average house price in the UK now at £296,000 and the average salary around £38,131, many are being priced out of purchasing a property. As a result of this, first-time buyers and those looking to get on the property ladder are finding it increasingly difficult – with less than 30% of millennials owning property.

What are the alternatives?

The government has promised to build more homes, but this isn’t the only solution to the housing crisis. There are several other options that need to be considered to solve the housing crisis; this includes: 

Refurbishing existing properties – owners of vacant properties can invest in refurbishment to get their property ready for market. Focusing on energy efficiency during refurbs can be profitable for owners with buyers paying an average of 15.5% more for a home that complies with high energy efficiency standards.

Making use of brownfield sites – these sites have been previously developed but are now vacant. There are a number of these sites located across the UK, and they offer the perfect opportunity for property developers to build much-needed homes.

Converting commercial units into homes – with the number of high street shops declining following the cost-of-living crisis, there are many commercial units that are now vacant. These units can be converted into homes, providing much-needed accommodation for those looking to purchase or rent.

Final thoughts 

Despite the increase in new-build completions in the first half of 2022, there continues to be a growing housing shortage in the UK. The growing volatility of the property market has resulted in many new buyers and existing property owners experiencing affordability issues. inflation and coupled with a lack of mortgage deals available many are unable to afford these premiums. 

But there is an opportunity for owners of vacant properties to refurbish, and improve energy-efficiency ratings to get their property ready for sale whilst helping get someone onto the property ladder.

Black Banx, the hidden gem of the fintech sector could become the most valuable digital bank

Sam Allcock
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0
Black Banx, the hidden gem of the fintech sector could become the most valuable digital bank

Digital banking business Black Banx, a dynamic force for innovation in the vibrant fintech sector is building the world’s first truly global banking platform allowing private, business and institutional clients from 180 countries to access banking products regardless of their location and industry. And it’s delivering fantastic growth in doing so. With 15 million private and 750 thousand business customers, the company generated revenues close to $1bn per year to and is set to double group revenues to approx. $2bn by end of 2023.

One of the important persons behind Black Banx´s enormous growth is Founder and Group CEO Michael Gastauer. Business Talk Magazine and other media outlets call him “one of its kind” FinTech entrepreneur,  and finds “building a $50 Billion Dollar company in less than a decade is iconic”.

Michael Gastauer has developed Black Banx Group since its launch in 2015 with a focus on providing customers with flexibility, the highest quality technology and easily conducted transactions through a global network of ninety correspondent banks clearing 28 FIAT currencies. That is a compelling proposition for business and private clients as well as smaller institutional customers with a less sophisticated correspondent network. Black Banx’s geographic scope stretches to 180 countries. Gastauer’s proposition is particularly attractive in a region where the traditional banking infrastructure has been based around high fees for banking services, restricted or limited access to foreign currencies and often a local branch network which can be very difficult for customers to access. Black Banx’s mobile app and API based model offers a new world of convenience and lower costs for its customer banking with ease has become a reality for its Latin American customers.

Black Banx Group is not Gastauer´s first business the serial entrepreneur founded and successfully sold two other businesses previously, allowing him to set up his family office and provide funding for the company in its early stages. The company is well funded with strong margins from its four tiered revenue model. The first strand is cross border transfers, previously facilitated by traditional banks at steep commissions this is where BlackBanx started and it secures high margins by providing a service which substantially undercuts traditional banks, helped also by the low cost base its focus on local banks affords. The other strands of its revenue model are foreign exchange transactions, cryptocurrency transfers and interchange from card issuance.

These activities are highly cash generative, so the company is well positioned whilst it explores future options to extend its shareholder base through an IPO. Its growth trajectory is typical of a major player in the early stage fintech sector – Gastauer describes it as being rather like a hockey stick in shape. The first few months start-up phase saw a gradual ramp up in growth which then became hyper exponential. Seven years after its launch the company is still generating a year-on-year growth rate of 100% in terms of revenue and customer acquisition. In the last twelve months (to June 2022) the payment volume of private clients reached $133.5bn and $111.7bn for business and institutional customers, representing 37% and 50% growth respectively, whilst private client funds held on account rose to $8.8bn, an increase of 110% since June 2021 and further growth to $16bn targeted for 2023. Black Banx Group sends more than $20bn per month around the world for its clients.

So BlackBanx is a fully fledged, committed operator leveraging the potential offered by the fact that traditional banks are increasingly unwilling to provide accounts for businesses or private individuals on a truly international scale especially for underbanked countries, whilst their financial model has become increasingly unattractive and outdated for customers. With ongoing globalisation and the unstoppable use of SmartPhones, the world is more connected than ever before. Black Banx has a US$ 22 trillion target market and is providing innovative solutions in a unique way. Based on its proprietary software ‘GlobalKYC‘, the company can identify customers in 180 countries in real time, and provide them with checking accounts in 28 FIAT and 2 Crypto currencies. The account opening process for a business or private individual takes less than 8 minutes and is done entirely remotely over the internet or on a SmartPhone. When Black Banx did its first live demo on Money 20/20 in Las Vegas, the fantastic potential of this technology became obvious to the banking and finance world.

Combining its ability to provide checking accounts in minutes to a worldwide clientele with its capacity to send unlimited wire transfers around the world for a lower price and faster than traditional banks, Black Banx has seen demand for its proposition soar. It has become the holy grail to customers from a multitude of countries and industries, solving their banking issues in a convenient and low cost manner.

Michael Gastauer anticipates continued dynamic growth, with revenues set to double by 2023, whilst cross-border payments could reach more than $500bn by the end of 2023 which is 2.3% of the global cross boarder payment market.

When asking Michael Gastauer what in his opinion a likely valuation of his company is, he said:

“In 2021 we have seen companies in the Fintech sector reaching double digit billion USD valuations. I would not deny the fact that such valuations back in 2021 seamed realistic. However, as we all know, as long as a company is not publicly traded on an exchange, any valuation is completely based on what the shareholders think their business might be worth if they were to sell it. I think the next 24 months will be important for all us to find out, who are the Fintechs being able to make money and sustain a certain level of growth. Those who will be able to ride out the storm will be the big winners. Once global economy is back to normal, for those Fintechs the sky will be the limit, and this is when I will put a price tag on Black Banx not before. ”  

Michael Gastauer also said he is currently less interested in his companies valuation but rather focused on the technology and business model of Black Banx. His aim is to transform the global banking business, making it work like a social media network, where users can interact – exchange funds – instantly, anywhere, anytime on a global scale.

Has Forex Trading Changed?

Sam Allcock
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0
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Introduction

The history of forex trading dates back to ancient times when the means of exchange was trade-by-barter. This practice was later modified and replaced by the Gold standard. The gold standard was further substituted with the US dollar as the standard means of exchange after the Bretton Woods conference which ended in 1971. Since then, forex trading has extended across the globe and had remained the same till the present moment. Only the trading volume keeps increasing daily. 

This work will therefore help you learn more about the history of forex trading and the basic requirements to trade forex  today. 

What is Forex trading

Forex trading is an investment package that allows investors to buy and sell different currencies and other valuable assets in the hope of benefiting from their price volatility. 

History of forex trading

The history of forex trading dates back to ancient times (over 6000 BC) when the first exchange market was created in the form of trade-by-barter. The common practice then was to exchange goods (Commodities) with their equivalence. This was later replaced with the introduction of currencies like the silver coins which became the new means of exchange. 

However, the first organized forex market could be traced to 1871 when the Gold standard was introduced. The gold standard was chartered by the world wars and after the wars, the US dollar was established as the standard means of exchange following the Bretton Woods conference which lasted from 1944-1971.  

Nonetheless, online forex trading became more popular in the late 1990s when the internet was introduced. With the creation of the internet, it was easy to have online brokers who made it easy for individuals to participate in the exchange market from the comfort of their homes. At this point, forex trading spread like wildfire across all parts of the globe.

Has Forex trading Changed?

Forex trading is one of the oldest investment packages that has remained unchanged till the present time. The only change that could be said to have taken place in forex trading from its invention till the present moment is the possibility for the individual to trade forex from the comfort of their homes using the internet. This has been made possible with the advent of online brokers after the internet was created in the late 1990s.

Basic requirements for forex trading today 

There are four basic requirements for trading forex today. We have listed them below:

  1. Mobile phones or laptops: Good smartphones or laptops are needed to download the trading softwares. 
  1. Internet access: A strong internet connection is necessary to access the trading platform such as MT4 or any other trading platform provided by the broker. 
  1. Brokers: Brokers are the link between the trader and the market. They execute the trader’s orders at the market and deliver  the returns. There are a lot of forex brokers for beginners to choose from, especially the regulated brokers. 
  1. Minimum Capital: This is the amount the trader needs to begin his trading activity. The minimum capital required to begin trading could vary depending on the broker one chooses to trade with. Some brokers usually indicate the minimum capital as $10 while others require a higher amount of up to $100 to begin trading. 

Advantages of forex trading

  • Exposes the trader to the financial market
  • Helps investors in hedging against inflation
  • Serves as an investment package 
  • Provides employment opportunities for hedge fund managers
  • Provides an alternative source of income to the investors. 

Disadvantages of forex trading 

  • It is a risky investment
  • Consumes a lot of time and energy in analyzing the market 

Do UK-based investors have too much exposure to the FTSE 100?

Sam Allcock
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0
Do UK-based investors have too much exposure to the FTSE 100?

Globally, investors tend to invest more in their own market than in global equities. This is called home bias.

The same applies to the UK as well. People often invest in companies they are more familiar with. This may be because overseas markets can be perceived as riskier and more difficult to access.

Having a home bias is not necessarily a bad thing – it avoids currency risk, and markets are increasingly moving together – no country escaped Covid or the 2008 Financial Crash.

In the last year, UK investors have generally benefited from having a home bias. At the time of writing the FTSE 100 is down 3.13% over the last 12 months. This compares with a drop of 15.45% for the S&P 500 (US), 6.95% for the Nikkei 225 (Japan), 28.26% for the CSI 300 (China), 16.15% for the DAX (Germany) and 9.17% for the CAC 40 (France).

On the other hand, if you look at the UK stock market over a longer period, it has generally lagged behind its global peers in terms of performance.

Take a look at the last five years’ performance. The FTSE 100 is down 6.61% (although dividends have helped a bit) compared to an increase of 50.75% for the S&P 500, an increase of 21.63% for the Nikkei 225, a drop of 12.12% for the CSI 300, a drop of 1.71% for the DAX and an increase of 13.45% for the CAC 40.

Table: Figures correct as at 31st October 2022. Source selectwealth.co.uk

Furthermore, the weakening pound has been a boon for overseas investors.

Select Wealth Managers state “Due to the FTSE’s large exposure to the UK, investors have minimal exposure to ‘New Economy’ tech companies, whilst having large exposure to ‘Old Economy’ stocks such as Shell, BP and British American Tobacco”.

Losing out on the extraordinary growth of some of the big tech companies will have had a detrimental effect on investors’ returns.

As an example of how much these companies have grown, Apple now has a market capitalization of $2.5 trillion. In comparison, Shell has a market capitalization of £171 billion ($197 billion), making it the largest company on the FTSE 100. In fact, Apple currently has a greater market cap than all the companies on the FTSE 100 combined.

A high level of exposure to one country can also increase political risk, as evidenced by the recent mini-budget, and may prevent investors from taking advantage of global opportunities.

In that case, what’s the answer?

Diversifying a portfolio across asset classes, sectors, and countries should help reduce the volatility of your returns and the risk of being overexposed to one country or sector.

If you wish to increase your overseas holdings but are concerned about Sterling strengthening, you can consider Sterling-based funds that hedge the currency. Extra fees incurred to hedge currency are usually small.

This information is based on our current understanding and is subject to change without notice. The accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored advice and is only for informational purposes. 

The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

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