Cryptocurrencies are a new concept across the globe due to widespread uncertainty. No one is completely clear about what cryptocurrencies are and how long they will stay in this world. Still, it has become one of the most popular and most talked-about phenomena in recent years. Some cryptocurrency and bitcoin proponents argue that cryptocurrencies are nothing like total trust currencies. These digital coins are available only on the Internet, and you can use them only on the trust list financial platforms. Therefore, no government or state is linked directly to cryptocurrencies, which is a matter of concern for different authorities. Therefore, preferring fiat currencies over cryptocurrencies is a better option, in the words of bitcoin proponents.
If you pay close attention to the cryptocurrency market, you will find that the other cryptocurrencies follow whenever the prices of bitcoin fall. When the prices of bitcoin increase, the other coins also follow the same. Well, if you imply the same phenomena on the other financial market, the assumptions will be mind-blowing. For example, suppose that the shares of Microsoft’s fall and crumble to a large extent, it does not mean that the other shares are also going to crumble. It is going to be the most ridiculous assumption you will ever make. Therefore, understanding the phenomena behind the effect of bitcoin prices on other cryptocurrencies is very important.
Why does this happen?
When bitcoin came into existence, it was the first of its kind. Therefore, it is entirely sure that bitcoin will influence the whole business. It is one of the most prominent reasons because of which the prices of bitcoin affect the prices of other cryptocurrencies. No doubt, Bitcoin is the currency that has made the whole cryptocurrency market mainstream in today’s world. The whole principle of cryptocurrencies and blockchain technology depends entirely on the functionality of bitcoin. Now, the bitcoin prices have increased more than $50,000, and it is the main reason because of which the other cryptocurrencies gained popularity. When bitcoin came, a completely new industry came, and bitcoin was the only one to drive it. Therefore, it will have influence as long as it exists in the financial market.
However, some experts do not believe that cryptocurrencies like bitcoin will remain in power for a very long period. According to experts’ reports, it is said that BTC dominance is entirely near its end. The main reason for this is the evolution of new digital coins. Like technology, the old ones get out when new things come into the market. The exact implications are applied to bitcoin. Due to the emergence of other digital coins, bitcoin is expected to lose its dominance in the cryptocurrency market, which is an evident and well-understood phenomenon. Many experts say that other cryptocurrencies will surpass bitcoin in the coming few years, and it will be the downfall for BTC.
Will BTC fall?
Bitcoin is considered to be the safest method of investing your money today. However, it is technically the important one because it came before any other digital coin in the world. The proponents of bitcoins shifted to this cryptocurrency because they want comfort and an ever-increasing value. However, the concept in the past few years says otherwise. In April, the second most popular cryptocurrency Ethereum increased its prices and market capitalisation. The dominance was increasing at a very high pace in April, and therefore, people are suspecting the dominance of bitcoin in future. They believe that other cryptocurrencies like Ethereum will take the place of bitcoin, and it is going to be the downfall of bitcoin and the end of its dominance.
Also, some other reasons are the main focus for people because of which bitcoin may lose its dominance in future, according to https://bitcoin-storm.live/. The cryptocurrency market is maturing day by day, and therefore, people are discovering new applications for digital tokens. Bitcoin is just a digital coin that is very volatile and is not stable. Due to the low degree of stability, people will lose interest at some point in time and will be through all its investment from this digital token. It will lead to a decrease in the market capitalisation of bitcoin, and it will not remain in power anymore.
Saint Tropez is a small village in the South of France which has established itself not only as an emblem of the UHNW jet-set lifestyle but also as an exclusive community for only the wealthiest of homeowners. Its perfect blend of local Provencal charm and modern luxury make this village very special to all those who visit. It is ideally located only 30 minutes drive from a local airport for the arrival of private jets, 15 minutes by helicopter from the Nice International Airport, and 20 minutes by helicopter from Monaco (the mecca of wealth and luxury).
With a limited amount of properties available to purchase and a consistently high demand of investors interested in purchasing a piece of this exclusive haven, Saint Tropez remains on the top of many property investors list. In a world with surging global inflation rates, predicted to grow by 4.7% in 2022, Saint Tropez has become even more attractive thanks to its historically stable and ever increasing property values.
From speaking in thousands to speaking in millions, the property market along the French Riviera has boomed in recent years, attracting a large number of investors from all over the world. In 2019 there were 3.4 million second homes in France while in 2020 there were already over 3.5 million! This trend is something which has greatly affected the real estate market along the Gulf of Saint Tropez. In 2021 there was a record number of requests forvillas for sale in St Tropez for a budget oscillating around the 10,000,000 EUR. More investors are moving towards securing their fortunes in properties.
St Tropez House decided to take a deeper look into the realm of property investment in Saint Tropez and draw on expert formulas to provide insight into ultra high-value property sales and who can afford them.
What do properties cost in St Tropez?
Properties located in the heart of Saint Tropez begin at 3,000,000 EUR and go upwards to 50,000,000 EUR. Villages located around Saint Tropez, namely Gassin, Sainte Maxime, Cogolin and Grimaud will have lower prices. In an effort to provide fact-based statistics for property sales in Saint Tropez, St Tropez House has launched a one-of-a-kind Sales Report which breaks new ground for investors. This report uses statistics provided by the French government to help potential investors draw important and tangible conclusions when searching for a property for sale in Saint Tropez. Such interesting information in this report includes the average sales price in 2018-2019, being 5,400,000 EUR (excluding commissions & charges). It also compares the average prices of the top 7 districts of Saint Tropez. The most expensive properties are found in the posh private domain Les Parcs de Saint Tropez. Only Luxe is listed at 13,400,000 EUR and the perfect example of a villa currently for sale in Les Parcs. When purchasing a property in Les Parcs, one should expect to pay a ‘premium’ for being in this prestigious location.
Having specialised in high-value properties in Saint Tropez for over a decade, St Tropez House is proud to have only the finest of villas to propose to our clients. Our sales portfolio offers a large property selection with an average sales price of 10,000,000 EUR.
Can you afford a 10M EUR property?
Investors with this budget in Saint Tropez should have a healthy selection of villas to choose from. Les Marres Luxe, listed at 9,900,000 EUR, is a stunning 6 bedroom villa in Ramatuelle with several luxurious amenities, such as a private cinema, which provides insight into the type of properties this budget will afford.
There are two principal ways to calculate if you can afford to purchase a luxury property of 10,000,000 EUR. Each of these simple methods can be used to provide quick insight into what you can afford based on your unique circumstance.
The first approach was created by Barbara Cocoran and bases itself on calculation your yearly salary. The second approach uses instead your total net worth to calculate your property investment potential.
First Approach: The “Corcoran formula”
Real estate mogul and ‘Shark Tank’ celebrity Barbara Corcoran created a simple formula for those interested in purchasing a property anywhere in the world. The beauty of this formula is it applies to all budgets and can be used to assess the purchasing power of any investor. She explains this formula by stating: “Multiply your salary times four and that’s generally what you can qualify for.”
Corcoran offers another simple rule for investors regarding housing costs, which cannot go unnoticed in any property purchase. She advises to aim to spend roughly 30% of take home income on housing costs, namely mortgage interest, insurance, taxes and any foreseen or unforeseen renovations needed. For luxury properties this will also include staff, grounds maintenance and domain fees (if applicable).
By applying the simple ‘Corcoran formula’, we can conclude that by generating an annual income of 2,500,000 EUR, one can afford to purchase a 10,000,000 EUR property. This simple formula is of course only used as a general guideline however it does serve as an interesting tool for investors.
The average down payment of 20% applies also to luxury properties therefore an initial payment of 2,000,000 EUR would be required and the remaining would apply to a mortgage loan. The monthly mortgage payment will depend largely on the profile of each individual however it is safe to assume it would be roughly 40,000 – 50,000 EUR per month.
Second approach: What is your net worth?
Another way to calculate what you can afford when investing in a luxury property is by looking at your total net worth. This allows for a more all encompassing outlook of one’s finances and investment power.
The majority of new home owners in Saint Tropez invest in luxury properties as secondary/holiday residences. It is safe to assume that one would not be advised to spend more than 20% of their total net worth on a secondary home and therefore a net worth of over 50,000,000 EUR would be necessary to acquire a 10,000,000 EUR property.
The definition of an UHNW is the person having at least 50,000,000 EUR total net worth value. According to theGlobal Wealth Report by Credit Suisse, there were 168,030 Ultra High Net Worth (UHNW) individuals with net worth’s above 50,000,000 USD in mid-2019. This represents 0,000022% of the global population.
Among this UHNW group, 55,920 had net assets worth at least 100,000,000 USD and 4,830 had assets above 500,000,000 USD.
When breaking down these statistics even further, one can see that North Americans dominate this group, representing 50% of the total, followed by Europeans at 20% and 14% in Asia-Pacific (excluding China and India). China, Germany and the United Kingdom also qualify as important countries with a high population of UHNWI.
The nationality of this small percentage of the global population is very interesting but so too is the prominent industries from which they come. An independent 2021 study by Statista focused on the leading industries worldwide from which UHNWI derived in 2019. Their findings concluded that the primary industries of self-made UHNWI in 2019 were banking and finance which accounted for 27.6% of UHNWI. These industries were followed by business and consumer services at 11.7%, real estate and technology at 6.4% and hospitality and entertainment industries at 5.3%.
When analysing UHNWI with inherited wealth, it is interesting to note that many of the similar industries reign supreme, only non-profit organizations and manufacturing are distinguishing differences within this category of UHNWI.
Why do we advise our UHNW clients to get a mortgage?
Although most UHNW investors have the capacity to pay for their properties outright, this is not the most attractive option in France for a multitude of reasons. There are a series of laws and taxes, most notably l’Impôt sur la Fortune which must be taken into consideration when purchasing a property in France. St Tropez House advises its clients to always consider getting a mortgage and speaking with an independent mortgage broker who will be able to advise them on the most advantageous mortgage solution.
What expected & unexpected expenses are involved in purchasing a luxury property?
Once a luxury property has been purchased, there is a list of additional expenses over and above the simple mortgage payment. Taxes, insurances, maintenance, and staff must all be taken into account when one becomes an owner. Luxury properties will require weekly maintenance of the grounds and regular staff (gardeners, pool men, cleaners) to ensure that the property remains in good condition. The installation and upkeep of security systems as well as ongoing charges such as electricity and water should also be taken into consideration. Many new owners will also have some small or large renovations they will want to begin once a property is acquired. It is important to remember that if a property is located in a gated domain of Saint Tropez, there are also domain fees to pay either monthly or annually.
Acquiring a luxury property in Saint Tropez is a highly sought after endeavour which many investors have been doing and will continue to do for many years to come. Finding the perfect property is something which will require time, patience and the proper calculations to ensure your property investment is a growing success.
To find out more information about buying a property in Saint Tropez, contact our team of qualified specialists.
If you’re thinking about starting to save up to buy your first home, the whole thing can feel very off-putting. As house prices rise, the concept of even trying to save that much cash can often seem out of reach for most of us.
Fortunately, there are many useful tips available that will make saving for your first home considerably easier. That’s not to say you can decide to start saving and you’ll be an ankle to buying a home next week! It can take time to build up your savings to get the deposit for a mortgage.
However, follow these tips and you could be walking through your own front door much sooner than you ever imagined.
Live More Frugally
The key to saving more money is to spend less money. That’s going to mean some practical changes to how you spend. There are countless guides available online that can inspire you for a more frugal lifestyle, and they don’t involve moving into a cave and living off whatever you can grow.
Simple changes, like switching your bank account, changing your utility providers, cancelling some of your streaming services, using charity shops for gifts, or simply just switching to supermarket own-brand food can save you a lot of cash.
Those savings can then buy straight into your nest egg. The more frugal you live, the easier it will be to see your total savings rise faster.
Have a Target
The next step is to know exactly how much you need to save. Look at the house prices of where you’d like to buy. House prices vary wildly by location, and a three-bedroom house in London is going to mean a very different target than if you’re looking for a one-bedroom apartment in Hull.
It’s not just the deposit that you need to consider though. Your estate agent will want a percentage, and you’re going to need a conveyancing solicitor too. This will end up saving you money in the long term, but it’s a cost that you simply can’t fail to factor in.
Once you have your rough target, you can then make yourself a savings timeline. This will tell you just how long it’s going to take to buy your first home. Depending on your income and outgoings, plus the value of the types of property you’re interested in, that could take years.
They say that the best time to plant a tree is ten years ago. The second best time is today. The same is true of your savings.
Downsizing
This Can mean a major change to how you live, but downsizing is simply one of the best ways to cut your living costs. Whether you move in with friends or family or simply move to a cheaper area, downsizing can be a big step.
However, when you’re looking at where your money goes every month, the biggest expenses tend to be our rent and our bills. Moving somewhere smaller or where the rent is lower is simply one of the best ways to cut your outgoings. Those savings can make saving for your first home considerably easier (and much faster).
Stop the Bad Habits
Smokers spend a fortune on tobacco every week. If you have a bottle of wine to help you sleep every wine o’clock, that expense will also add up. Those bad habits, like getting a takeout every other night or impulse buying at the weekends, all make saving much more challenging.
It can be hard to get rid of our bad habits, but help is available. Everything from smoking to gambling can be stopped with the right approach. Identify your bad habits, look at how much they’re costing you, and make changes as needed. You might even find that this step improves your life in ways you never expected.
Earn More
It’s easy to say that you need to earn more money every month. It’s a lot harder to do. Yet, it might be possible with the right approach. If it’s been a while since your last pay rise, talk to your boss. You never know how amenable they will be.
If that’s not an option, consider a side hustle in your spare time. This can be tailored to your hobbies, selling on eBay, walking your neighbour’s dog, or becoming an online virtual assistant. There are hundreds of side hustle ideas out there, and they could help you save faster than you think.
Start Saving Right Now
The faster you start to save, the quicker you can buy your first house. If you’re new to saving, it can take time to get used to. Make sure that you have a direct debit in place so that a set amount of your wage comes out on payday and goes directly into your savings account.
That way, you won’t be tempted to dip into it. The more you can put aside every month, and the more aware you are of how much you need to put away, the easier it will be to save for your first home.
Take the time to get your savings fully optimised and you could be stepping over the threshold of your first home years earlier than you expected.
Dov Katz is the co-founder and CEO of the startup organization 2130 Labs. This radical mental wellness company deals with mental health issues through plant-based medicine therapy (involving cannabis) and by using AI algorithms and devoted hardware in order to accommodate the treatment of each person.
Dovis married and lives in Ramat Hasharon. He has 3 children, and one is on the way.Currently, he is working at a startup company in Israel. Being a co-founder, he runs the company to prepareplant-based medicine in the medical devices field. Katz has gathered significant professional experience by leading technological teams,companies, and experts in computer, robotics, and AI version. Dov can not only think about the big picture but also possess the technical expertise to go deep into detail.
Throughout your career in the high-tech world, how have you had a positive impact on the field?
In my academic studies,I concentrated on the learning of AI and machine vision for robotics. I in fact identified a new field named Interactive Perception where through the trial and error method, robots can become familiar with their world. The robot learns about the functions of the objects by playing with the objects, just like children. Later on, I used this technology for the US Army in a project where the goal was to develop a robot that could clean up piles of fragments and objects after an earthquake or attack. There are videos of my robot in action and academic articles I have written on the subject.
After that, I led the field of AI and computer version at the organization ‘Oculus’. The product we made indeed transformed the world and brought a revolution in virtual or augmented reality what we can see today in every large organization. Exceptionally, that it resulted in Facebook that lately taught us also to change the name Metaverse to Meta. The possibility for harm and the possible outcomes for VR are extensive with any good technology.
For the last few years, I have been engaged in a fenced agriculture project namedgrowin.ag Where I worked to develop a robotic plant-developing system under extremely controlled conditions. As the climate depreciates, this system is essential for the future of the earth. It is quite significant to be able to grow any crop anywhere by using AI and data while saving electricity and water.
Currently, I am in the lead of my company 2130 Labs. Indeed, there is a huge potential power for the well of the company. In the United States, about 80 million people have sleep problems and similarly, there is a large number of people who are suffering from anxiety, depression, and more.
Are there other areas that you would like to pursue, besides developing algorithms?
All my life I have been involved in a field that ranges from hardware to AI and computer vision. This is the field I studied for my doctorate and postdoctoral in which I worked throughout my career. I intend to continue in this field, even though for many years much of my time has been naturally devoted to management. More technological leadership and less self-Implementation.
What is the most unique technological venture you have participated in?
I am very lucky to have enjoyed all the ventures I partook in. They were all special. Each one has had a significant impact on the world and people, and each contains compelling technological challenges. And, as I mentioned, they were all at the crossroads of hardware and software.
With a plethora of credit cards to choose from, it helps to have some sort of criteria for narrowing down the search for the right credit card. Before comparing credit cards, applicants can gain a sense of direction by thinking about how a credit card can satisfy their needs, what sorts of cards are accessible based on their credit score, and how using these cards could impact their finances.
A great first place for applicants to start is to determine what credit cards they would likely be approved for by checking their credit score. The higher score, the more likely the applicant is to be approved or even pre-approved for a given credit card. Having a lower score doesn’t necessarily mean the applicant won’t be able to get a credit card, but it may limit their options more. When shopping for credit cards, it can help to filter by minimum required credit score.
APR
The annual percentage rate (APR) refers to a percentage that determines how much interest the cardholder pays on their remaining credit card balance. The higher the APR, the more expensive it is to go into debt. That said, comparing APR is less important if the cardholder plans to pay off their statement balance in full every month, which would mean the cardholder would not pay any interest. Making full payments each billing cycle will also help to improve the cardholder’s credit score.
Generally speaking, the most competitive credit cards offer lower APRs, and those who have higher credit scores may be more likely to qualify for these cards. However, there are also credit builder cards designed for people with a poor credit score or little credit history.
Credit card issuers only have to provide credit at their advertised rate to 51% or more of cardholders. That means applicants may receive an APR higher than an advertised.
Fees
It’s not uncommon to see credit cards with fees, including but not limited to annual fees, balance transfer fees, and other fees that are important to be aware of. Fees are not necessarily a good or bad thing, but it’s important to know what triggers them so that applicants can make an informed decision when they’re ready to apply for a credit card.
How to apply for a credit card
Once applicants have found the credit card that works for their budget and lifestyle, they can fill out an application. In most cases, applicants can apply for a credit card online. Many credit card companies have an online prequalification application that can be completed without impacting their credit score. When applying for a credit card, applicants should prepare to provide financial information regarding employment, income, marital status, and debts. So long as applicants do their research and compare the factors mentioned above, they can find the right credit card for their needs.
Just as manufacturing was once the driving force behind the United States economy, the services sector lies at the heart today. With services representing two-thirds of the GDP it only makes sense that there are massive opportunities for profitability within the sector, making it an appealing area for investors. However, as with any other industry, the services sector has its winners and losers. The sheer scale of it means that it can house companies both profitable and operating at a loss, and market caps can be anywhere from miniscule to blue chip. Additionally, as technological capabilities have risen so too has the services sector seen rapid evolution, meaning that a company in demand today may be obsolete tomorrow. It requires due diligence and shrewd attention to trends to identify when and where one should make investments in the services sector.
In order to see investment success within the services sector, they must be made with intention, creating a strategy that aids in narrowing the pool to those that have the greatest chance for realized gains. For Hauser Private Equity, a Cincinnati-based hybrid private equity fund manager, they have found success by focusing on the lower-middle to middle markets and making co-investments with other funds who have a strong history of using strategic investment models to add operating leadership to the companies in their portfolio. Additionally, their seasoned managers are able to use their varied expertise to target upwardly trending businesses, undertaking due diligence and execution to bring each co-investment to a successful conclusion. As a result, Hauser Private Equity has invested over $300 million in capital in privately-owned businesses across a diverse set of verticals including that of the services sector.
At the heart of each of these deals is founder and co-managing partner Mark Hauser. Hauser has over three decades of investing and operating company experience, including serving as vice president of Reynolds Dewitt Securities during which time he successfully brought about the public offerings of Mid-American Waste Systems, Future Healthcare and Health Images. He has also served on the board of directors for multiple consumer goods and food & beverage brands, as well as on the board for a number of government-contracted security and defense businesses, as well as digital advertising and textile manufacturing. The breadth and scale of Mark Hauser’s experience has given him a uniquely comprehensive view of the markets, and as a result he has spearheaded the growth of Hauser Private Equity’s portfolio.
As healthcare in the United States has evolved, so too has the ways in which the needs of the country can be fulfilled and services for it can be provided. Advancements in technology and supply chains mean that access to pharmaceutical drugs no longer requires a trip to the pharmacy, often a difficult task for those dealing with debilitating injuries or ailments. Recognizing the value a home delivery pharmacy services could add, in 2014 Mark Hauser led a deal for Hauser Private Equity with fund partner ACON Investments to invest in Injured Workers Pharmacy, L.L.C. Additionally, they partnered with two former senior executives of Omnicare, Inc., a Fortune 500 company that is a provider of long-term care and specialty pharmacy services, and Triton Pacific Capital Partners, LLC an experienced private equity healthcare services investor.
A specialty home delivery pharmacy, Injured Workers Pharmacy serves patients injured in accidents covered by Property Casualty insurance, enhancing patient access and alleviating administrative and financial burdens by shipping medications directly to the patients and managing the often complex reimbursement process. At the time, the pharmacy markets for workers’ compensation, automobile personal injury protection and personal industry amounted to $8 billion, and Injured Workers Pharmacy’s patient care advocacy program had proven to result in injured workers experiencing better recovery outcomes, returning to work faster, and creating demonstrated savings. Through partnering with experts within healthcare while leveraging their own expertise, Hauser Private Equity was able to see the successful realization of this services sector investment.
Although Hauser Private Equity has certainly been a strong player in the services vertical, it is by no means the only way Mark Hauser has built the company’s portfolio. Indeed, one of the company’s most recent successful ventures was in the sale of Igloo, the United States’ leading cooler manufacturer. In a landmark sale, the company was purchased by Dometic Group AB, the publicly traded Swedish manufacturer of accessories for campers and RVs, having previously been acquired by the private equity investment firm ACON Investments with co-investment from Hauser Private Equity in 2014. Igloo pioneered the cooler product segment when it launched over 70 years ago, and today is the global leader in the production of passive cooling boxes.
Thanks to capital and expertise provided by Hauser Private equity, alongside advising on strategic operations from ACON Investments, Igloo has seen strong growth, reporting a 24 percent increase in net sales for the most recent 12-month cycle when compared to the previous reporting period. The Dometic-Igloo transaction is mutually beneficial from an operations perspective, creating a stronger combined sales platform for both platforms that is expected to produce $150 million in higher annual sales. ACON Investments served as the deal lead, while Hauser Private Equity and Mark Hauser maintained detailed knowledge of the transactions throughout the process.
Within the services sector, the multitude of options can be overwhelming for any investor. It requires acquisition due diligence and a strong finger on the pulse of trends to successfully parse through the many companies and identify which stand poised for growth. Capital put in the right direction can result in revenue growth, increased margins, and strong exits, and Mark Hauser knows where to look.
How an expert advisor can help you achieve great outcomes for all parties in a private equity deal.
The COVID-19 crisis has not put any dampener on the strong flow of private-equity-backed deals. A McKinsey Global Market Report has highlighted the fact that private equities’ net asset value has grown by seven times since 2002 and twice as quickly as global public equities. The report also concludes that private equity fundraising has grown by 18% annually since 2015. When the global economy recovers, private equity money won’t be far behind for further deal opportunities. There might even be some bargains to make the most of.
The divisional and group CFO Gary McGaghey explains that as we approach a new ‘normal’ on the business scene, it’s important that CEOs and CFOs understand the full context of private equity buyouts, especially when it comes to entering a private equity buyer’s buying funnel. Gary McGaghey is the CFO of the €1.3bn end-to-end marketing production and business services group Williams Lea Tag, where he oversees the company’s implementation of commercial plans (especially cash generation) and investment decisions.
Striking the Right Deal
The philosophy of private equity investments is to both generateandreward growth. Therefore, private equity deals should offer great outcomes for all parties. So, striking the right deals with strong management incentives is important. As deals become bigger and more complex, sometimes involving repeat buyouts of a company, there is now much more demand for specialist support from independent advisors.
Some private equityinvestors arewell-versed in the management of the deal process. These investors often source management support quickly by offering excellent terms. Although these terms may need less commercial intervention, they will still need thorough assessment and must be communicated clearly to the team.
How an Independent Advisor Can Help
Although many private equity deals offer ideal opportunities for investors, often because of the nature of the process or the asset itself, some new funds that enter the market aren’t used to cutting attractive management deals. A management team may sign up to terms and structures that materially disadvantage them and damage their relationship with their new investor post-acquisition. This can jeopardise the original motivation for the deal.
Gary McGaghey explains that 10-20% of deals are egregious and need careful review. It’s important to look out for ‘hidden’ elements, such as management targets that are impossible to reach with the given post-acquisition business strategy. An independent advisor can help a management team understand how their position would change in a range of scenarios and what the funds could be like to deal with throughout the investment journey.
The mergers and acquisitions market sees new entrants each year, including private equity funds from other jurisdictions, family offices, long hold funds, infra funds, and strategics. Many of these entrants have little experience in completing these kinds of deals. A specialist advisor can be invaluable to highlight future roadblocks, teach management teams about the elements they should and shouldn’t accept, and show them how to uphold sensitivity when negotiating with counterparties.
Hiring an Independent Advisor
Even if a company is at the end of the process, an advisor can uncover vitalinsights that the management team needs to understand. That said, the earlier a company gets an advisor involved, the better. An independent advisor can scrutinise and negotiate a deal to benefit a private equity fund. When there is more equity in the hands of managers and all parties listen and respond fairly to proposals on the management plan, a company can strengthen engagement and motivation to reach its potential post-acquisition. An independent advisor can help all stakeholders align their interests and benefit from a private equity deal.
What’s more, management teams don’t directly pay for an independent advisor. Instead, it is a cost of the transaction teamed with advisory, finance, and diligence fees that are funded as part of the overall deal.
About Gary McGaghey
Gary McGaghey has achieved optimal outcomes for a number of private equity, privately owned, and listed companies across a range of sectors, including beverage, FMCG, media, and pharmacy industries. Now, as the CFO of Williams Lea Tag, he has hired and cultivated an expert finance team for the company. The team works under his careful management to achieve transformation for the company.
Gary McGaghey holds a Bachelor of Commerce degree from the University of Natal and a postgraduate Bachelor of Commerce degree with honours from the University of South Africa. He is also a chartered accountant in South Africa and a chartered management accountant in the UK. On top of this, he has completed a Non-Director Executive Diploma through the Financial Times.
In today’s world, we have come across a point where everything is being digitized and everyone is now dependent on digital means for fulfilling their needs and completing their daily basis work. On the one hand, where everything is moving toward the digital world, the security issues have also increased to their extent because it is very necessary to protect our digital space where we perform various activities like online shopping, online transactions, online business, and many more.
To protect our digital space there is a term from which we all are aware of and that is cyber security.
Cyber security provides us the security for all the electronic data so that nobody uses it for a criminal act. Cybersecurity has now emerged as an imperative role in this modern digital world, so a career in cybersecurity is going to be the most sought after.
There are some myths that are related to cybersecurity as there are misconceptions that may put your business at risk. In today’s blog, we are going to discuss these cybersecurity myths.
Let us come up with one by one security myths and discuss them.
Strong Passwords
We all think that once we have set our passwords and they are strong enough then there is nothing to worry about but this conception is a wrong myth. Just setting a strong password does not save you from cybercriminals. You need to set two-factor authentication as well as data monitoring.
Cybercriminals do not attack SMBS
We all think that cybercriminals do not target small-sized businesses or medium-sized businesses because it is a thought process that small-sized and medium-sized businesses do not have any sensitive data on which cybercriminals can target. But this is a myth because cybercriminals mostly target small-sized and medium-sized businesses. After all, these businesses lack advanced security solutions as well as it is easy to attack these types of businesses. If we talk about statistics, then around 58% of cyber attackers choose to attack small businesses.
We will not experience a cyber attack
This is the biggest myth that your business will never experience any kind of cyberattack. If your business has any kind of sensitive data then you can experience a cyberattack at any point in time. If we talk about statistics, then around 84% of cyber attacks are because of human error. So, it is baseless to say that you will never experience a cyber attack as the mistake is made by us only.
Having an antivirus software is enough
We all think that we have antivirus and anti-malware in our system so we are safe from cyberattacks. I must tell you that this thinking is wrong because these kinds of software are not enough that they can detect all types of cyberattacks.
Cyber threats are external
We all keep an eagle eye on the attacks which are attacked by the insiders but it is equally important to be aware of attacks that are done by external means.
IT department is responsible for cybersecurity
We all have thought that cybersecurity is a term and related to computers and the cybersecurity is the responsibility of only those people who are related to the IT sector and their role is not required but it is a myth because each employee must keep their organization or company cyber-safe so that no cyberattackers attack their organizations.
Wi-fi protected through passwords are secure
When we protect our wi-fi with passwords this doesn’t mean that you are safe from cyber-attacks. Public Wi-Fi networks can also be breached even if it is being secured by using a password.
You will be informed if your system is being attacked
We think that when our system will be attacked then we will get to know about this immediately but this is not true. It takes months and sometimes years also to know that your system is being attacked by cyberattackers.
If you think that all personal devices like smartphones, laptops, and other devices can also cause a breach in your and the company’s cyber security. If we talk about statistics, around 61% of companies suffer cyberattacks due to the policy of BYOD and have experienced a mobile data breach.
We are fully cybersecure
If you think that once you have followed all the cybersecurity precautions and the solutions to cyberattacks then I must tell you that you think wrong we are never fully secure because each day a new threat emerges so all we need to do is that we have to stay updated with the new measures to protect ourselves as well as our organizations or company.
Sophisticated security tools keeps your business secure
It is always advised that all the security tools should be properly configured in order to provide strong cybersecurity from cyber attacks.
Regular penetration tests are enough
If we talk about penetration tests then I must tell you that these regular penetration tests are effective only when the cyberattacks and vulnerabilities are being rectified in time.
Regular compliance equates to a robust security strategy
If you are keeping the compliance of cybersecurity checks on a regular basis then this does not ensure your security is strong.
A third-party security will provide more security
We always think that if we ask the third party to keep a check and manage our security then we will be no more liable for our security but this approach is totally wrong because you are also equally responsible for securing all the critical assets of your company.
Never experienced breach which means our security is strong
If you think that you have never experienced the breach then your security is strong and you can sit peacefully then don’t do so because everyday new cybersecurity issues are generating and you must be very well prepared with this.
CONCLUSION
We all have several myths regarding cybersecurity. I hope with this blog your myths are being cleared. It is very important that nowadays we have to be very vigilant and active in the digital world so that we can secure our sensitive data from the attackers. If we talk about statistics then around 2,245 hackers daily attack on an average, 81% of data breaches are due to weak passwords and taking the cybersecurity as not so important. So, it is also important to create awareness regarding cybersecurity so that each and every individual should be aware of this and can actively secure their sensitive data.
The gig economy is increasing exponentially. It is further accelerated with remote workforce culture becoming the new normal due to the pandemic. Standing at $347.8 billion in 2021, the industry is poised to reach $455.2 billion by 2023.
Due to attractive benefits like being your own boss, flexible work hours, global exposure, etc., people worldwide are eager to join the freelance world. But this is where fraudsters are finding an opportunity to scam vulnerable people. If you offer freelance services online, here are some job security tips that can help prevent scams.
Get Everything in Writing
It is very common to find scammers who create fake company accounts. They will promise you huge sums and then leave you hanging once the project is complete. Hence, it is always advised to have a contract. After all, what’s documented can be shown as proof if anything goes wrong.
You might think that why go through the hassle of creating a contract? Why not simply take some advance payment instead. Well, taking advance payment can offer security up to a certain extent, but there’s a downside to this: the overpay scam.
Suppose a scammer pays you in advance and then overpays you during the final payment. Now, the person can ask back the overpayment made. Next, he or she can reach out to PayPal and register an issue of a possible hack or compromise and ask for a refund. Thus, the payment made to you will be reversed, and you will be left with nothing. Overpay scam is one of the most common PayPal scams you will come across. Hence, it is better to have a contract in place.
Don’t Provide Too Many Trial Pieces
Companies do ask for trials to evaluate your skills. This is understood. But some scammers will try to use the excuse of trial assignments to make you work for them for free. For instance, a single 500-word article should suffice the purpose if you are a content writer.
Fraudsters will try to trick you by saying that they will offer many varied assignments; hence, they require multiple trials to match skills with each type of assignment. Don’t fall for this trick. You should even try to get paid for the trial assignment as you are putting in efforts to complete it. But if that’s not possible, provide a small free trial that can be completed quickly.
Never Hand Out Sensitive Data
Some platforms and job providers will ask you for sensitive information to get a job. This can include your financial information, Social Security number, card details, etc. Many freelancers who have not landed any project for a long time give away all the information asked for. But you should not do that.
If you encounter such a scenario, please report the person or platform asking for sensitive data. They might convince you that the information is required for payment transactions or some legal work. But don’t listen to them because if they ask you for too much sensitive data, the chances are that they will use it.
Don’t Pay to Get Paid
Asking for upfront payment to grab a project is a common scam. You don’t have to pay to get paid in the freelance world. If someone asks you for upfront payment, decline the project straight up.
Some job portals or freelance sites might ask you for a membership payment. This may be required to maintain the job portal. Hence, subscription-like membership payments on such portals can be valid. However, researching about these job portals is advised.
Ask for Clear Expectations
While some scammers will ask you for multiple trial assignments, some will ask you to alter a single piece numerous times. They will never give you clear expectations to leave room for dissatisfaction.
Once you deliver the first piece, they will ask you for rework repeatedly without any additional payment. After some reworks, they will give you an entirely new set of expectations stating that the previous one didn’t work at all. Thus, they will trick you into completing multiple tasks while paying you for one.
You will find many scammers online. But they shouldn’t stop you from freelancing. More and more companies, especially small-medium businesses (SMBs), are working with freelancers. Around 70% of SMBs have already hired freelancers and will continue to do so. Hence, it is a great opportunity you should not miss because of some scammers.
It’s all about differentiating a legit opportunity from a scam. Simple practices like getting everything written down in a contract, taking part-payments in advance, setting up clear expectations, etc., will help you avoid scammers and cons. So, next time you take up any freelance project, you know what to do.
Fashion is now at the point where new trends are beginning to take precedence over older styles. Unfortunately, not all of us are ready to move on.
This period isn’t as bad as you may initially think. Instead of throwing out your current style altogether, why not adopt a revolving door policy? You can still keep your current look, while making changes that adopt new styles at the same time. Read on to find out how.
Tights Are Back
Tights have always been used in formal situations. They look good, but can also match the office style adopted by most places of work. However, there is the other side of tights that disappear and reappear whenever society demands.
Often found in the UK, these tights are adorned with wild patterns containing stripes, stars and polka dots to make them less formal, and they are making a comeback in 2022. The fact that UK tights are coming back isn’t the end of the world, however.
The past year has seen basic mini-skirts come back into fashion. You may think that these two styles would clash, but they actually have the opposite effect. These tights can draw attention away from the bland skirt, creating an interesting miss-match of ideas. Therefore, all you need to do to keep up with new trends is buy some extra tights.
Puffer Jackets
The general public were mostly divided on their opinions about puffer jackets. These oversized coats were extremely popular back in the early 2000s, and only a few people have continued to wear them for practical reasons.
Some of you may be pleased to know that the puffer jacket is slowly making its way back into fashion. This boxy coat is exactly how is appeared two decades ago, only now they are made in bright, primary colours.
Whatever your view is on the puffer jacket, you will find it advantageous that you can wear these over the clothes that you currently own. This means that you don’t really have to worry about your current style clashing. You might have to wear certain shoes, but that is a small price to pay considering the alternative.
Colours
As mentioned in the previous passage, bright colours are coming back into fashion. This is in direct contrast with the darker tones that the public have favoured in the last couple of years. Surely there is no way to make these diverging styles work? Well, yes and no.
Darker trousers will work with anything; however, you need to be wary of the new patters that are emerging. Anything too busy will make your darker clothes look obsolete, so aim to wear single coloured tops or shoes. Yellow is currently the most popular colour that is destined to become the next trend, and this looks good with black trousers. However, patterned tights and a yellow top is really brave.
Conclusion
Your wardrobe is always going to be important to you. If you find that new fashion is giving you a hard time, try to take our advice and be clever. Alternatively, you could always wait until your clothes come back into fashion. It is bound to happen sooner rather than later.
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