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How To Kickstart Your 2019 In Retail

News

Claire James

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28 January 2019

The new year marks a fresh start for your business, and a chance to outdo your achievements of the last twelve months. Even if your business had performed well in 2018, there is always room to beat your own targets, especially with the increase in online sales. Starting the year strong can give you the motivation to continue on the same level for the rest of the year. Here’s how you can ensure the best possible start to 2019 for your retail business.

Streamline your processes

The “new year, new me” mentality doesn’t only have to apply to your personal life. If office equipment is on its last legs, this presents you with the perfect chance to get new hardware. Likewise, the busy Christmas period should have highlighted if any software or processes need to be updated and streamlined, just in time for new collections to arrive in the wake of January sales.

One way to streamline your business processes is by finding an integrated software package to look after every part of your business, from product manufacturing right up until the point of sale. Implementing an enterprise system for your retail business can help you manage things like marketing, merchandising, and the supply chain in one system. This makes it much easier to complete basic processes like replenishing stock, deciding what items should be included in any promotions, and altering pricing.

SAP systems, for example, are highly customisable, meaning that they can be built to directly suit the needs of your business. However, this can be a complex task, as SAP systems are also highly technical. As a result, you may need to work with an SAP recruitment specialist, such as Eursap, to hire an experienced employee to implement the system for your business. This can either be on an ad-hoc basis, to get the system up and running and teach you the basics, or as a full-time staff member who focuses on keeping your business running smoothly.

Implementing SAP software also provides you with the perfect opportunity to complete a detailed stock-take of all your products, so you know what you have in stock going forward in the new year. By inputting information into the system to automate your stockroom, you can immediately get a clear idea of what you have in stock, and what you need to order more of.

Increase customer engagement to help drive sales

Customer engagement and customer service both work to increase sales in any business. Research has found that excellent customer service leads to a 92% retention rate of customers, while 84% of organisations that improved their customer experience also underwent an uptake in revenue. Take the opportunity to get in contact with your customers and add a personal touch to any interactions with them, to try and encourage more sales, and build up a dedicated base of repeat customers.

If you’ve recently had an influx of new shoppers—perhaps newcomers who discovered your store over the Christmas period—try and turn them into loyal customers by getting in touch with email blasts or newsletters inviting them to shop with you again. If you didn’t manage to get their contact information, the new year is a good time to put a marketing plan together in order to get customer data or implement a loyalty and reward scheme.

You may choose to offer personalised loyalty rewards by analysing how each customer shops. One-size-fits-all newsletters can work to drive customers away as they won’t be targeting what each customer wants. In fact, personalised missives improve the likelihood of a customer opening an email by 26%, and generate a 760% increase in email revenue, according to research by Campaign Monitor. However, this needs to go beyond simply including their first name in the subject box, and could include things like recommending products similar to recently purchased items, or new collections in styles that the customer has frequently bought in the past.

Sending out behaviour-triggered emails is another option you could take to improve customer engagement. For example, a welcome email to a customer when they first sign up to your newsletter serves to greet them personally, and could even include an initial discount code to use on their first purchase, which helps to guarantee that all-important first sale. Similarly, if a customer doesn’t complete a purchase, you may choose to send out an email reminding them that there are still items in their cart, helping to drive the sale even after the customer has left your website.

Consider offering retail as a service

One of the rising trends in retail is to offer more services within your store beyond simply giving customers a chance to buy your products. The rise in e-commerce is shrinking the high street, so more businesses are trying to incentivise customers to physically shop in-store by offering experiences and value. For example, Topshop’s flagship branch on Oxford Street provides additional services in the form of concession stands, such as a hair salon, manicurists, and even food and drink. Small business owners can rent a space in Topshop in order to give their business exposure, which also encourages customers to visit the store as opposed to shopping online.

More flagship stores are offering these little extras for customers in order to increase footfall—Timberland retread boots, David Clulow opticians fix glasses, and Nike now even offer trainer dry cleaning. But it’s not just the big global brands offering this. Shoreditch-based independent concept store AIDA, for example, combines Scandi designs in men and womenswear, as well as homeware, while also including a cafe in the front of the store. This helps to draw customers in and retain them for as long as possible as a method of improving sales. You don’t necessarily have to open a whole cafe, but hosting various experiences in-store throughout the year can help to boost sales.

Despite the ever-building pressure on retail stores to outperform online shopping, it is still possible to start 2019 on a strong foot. Streamlining your business processes, boosting customer engagement, and offering something outside of your core products can all work to encourage footfall and increase sales.

Technical analysis vs fundamental strategies

Finance

Elliot

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28 January 2019

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Technical analysis vs fundamental strategies

Technical and fundamental analysis are the two schools of thought applied when approaching the forex market. These two methods are applied when researching and by investors when gauging the trends in the market. The supremacy battle between the two has lasted for ages, but whichever route you take; the goal is always the same. As a trader, you can opt to use one or even combine the two approaches in your trading.

Fundamental analysis, on one hand, involves evaluating a stock or a security by gauging its intrinsic value. Fundamental analysts will look at all factors surrounding certain security. They will look at the overall economy, conditions in an industry, the management of companies as well as the financial conditions.

For the technical analysts, trading volume and historical prices of securities are the only inputs. The assumption is that all fundamental factors such as the market conditions are factored in the price of a security. It is therefore not necessary to do fundamental analysis. Instead of identifying the intrinsic, the technical traders believe in patterns.

Trading tools

Technical traders will normally begin with their trading platform; fundamental analysts, on the other hand, will begin with company financial statements. The trader or analyst in such a case tries to gauge the value of a stock by assessing its performance. Technical analysts believe patterns can be used to obtain future trends of a security.

Period of analysis

Fundamental traders are long-term traders. They will wait for a long period for the intrinsic value to be reached. On the same note, fundamental analysts will look at data of several quarters to make informed decisions. Technical traders do not in most cases take a long-term approach. In most cases, trades will be closed within a few minutes to a few weeks. The analysis too does not take long; historical data considered could be a few hours to 3 months old.

Trading vs investing

The two trading approaches have different goals. Technical traders try to seize small opportunities within the market, fundamental traders are investors, and the expected benefits can only be realized in the long term. Technical traders aim to buy, hold for the security to gain value, and then dispose at a profit in the short run. Fundamental traders will invest in the future of a company; their goals are long term.

Decision making

Whiles the fundamental traders analyzes financial statements, quality of the management, the growth of the company and earnings, the technical traders believes that market behaviors will keep repeating. Fundamentalists make subjective decisions based on the amount of information at their disposal.

The usefulness of technical and fundamental analysis

Fundamental analysis is essential when you want to identify undervalued or overvalued securities. This method of market analysis makes a comparison of the market and the intrinsic value. Intrinsic value is the true value of a security after considering its tangible and intangible aspects. Technical analysis can be applied when trying to identify entry or exit opportunity.

Assumptions

In fundamental trading, there are no assumptions. Information is based on real facts and information available to an investor. Technical analysts will normally make some assumptions in their decision making. Technical trading is based on the following assumptions:

The market discounts everything
Price move in trends
History keeps repeating itself

So which one is fit for you?

Technical Analysis	Fundamental analysis
Requires a high level of expertise	Suitable for even traders who are not very skilled
Suitable for traders with short-term trading goals	Suitable for investors with a long-term goal
Suitable for the high-frequency traders	Not suitable for frequent traders
Not a very suitable option for the risk averse	Suitable for the risk-averse traders

If you are planning to be a technical trader, you should be willing to invest your time. Fundamental trading does not require a lot of time in the market. Fundamentalist are slow in decision making and low appetite for risk

The ABC of Business Finance

ABC Staff

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24 January 2019

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When it comes to starting or expanding a business, raising the capital yourself isn’t the only option available. Financing your business through lenders and investors is a common way to get the money you need to ensure your business gets a strong start or makes it through the scaling process with the resources that it needs. Here, we’re going to explore the major financing options available to most, highlighting their advantages and disadvantages.

Business loans

The traditional option and also the financing option that tends to offer the highest loans available. A business loan is usually taken out from banks, but more alternative lenders are springing up to offer terms that traditional lenders do not. For instance, some lenders offer short-term financing solutions to help cover rough periods and fight problems with cash flow.

Larger, long-term business loans tend to be the most common, however. Start-up loans have the explicit purpose of offering the funding that entrepreneurs need to get their business running. Other loans can help cover the costs of purchasing stock, taking on staff, buying equipment, moving premises, or otherwise scaling your business. The business owner or directors are liable for the loan, which is taken out in a lump sum and repaid over time. For large loans, a business plan might be necessary to convince the lender that your plans justify the amount you want to borrow.

Invoice financing

Lots of businesses receive payments by sending invoices to their clients. Waiting on invoice payments can sometimes lead to cash flow problems, especially when clients are slow to act on them. For those businesses, invoice financing can help them see the cash they are rightfully owed much more quickly.

Invoice financing isn’t quite like a traditional cash loan. Instead, the lender buys as many outstanding invoices as you have. A fee is added on top of each invoice, slightly reducing the amount you would get if you had waited, but it can help free up cash stuck in invoice limbo.

The two most common kinds of invoice financing are factoring and discounting. Factoring sees the lender handle the sale and the customer directly, while discounting means that you are still responsible for seeing the invoice paid and owe the money you collect to the lender after the fact.

Crowdfunding

An option that has grown significantly more popular thanks to the internet sees you seeking funding from many investors, rather than just one. Crowdfunding isn’t a loan. Rather, your investors, or “backers” as they are known, contribute money towards a funding goal. You set a limited amount of time to raise as much money as you need. If you don’t reach your funding goal, however, you keep none of the money that has been raised, releasing it directly back to your backers.

As it isn’t a loan, crowdfunding does not require the borrower to pay their investors back. Some business owners make up for this by offering free products and services or other goodies to investors in exchange for donating certain amounts of money. Many crowdfunding platforms do charge significant fees on money raised, however, so it’s worth looking up the terms and conditions of any platform you use to raise those funds.

Other forms of finance

There are other kinds of business financing growing more popular in the business world as well. They include the following:

Peer-to-peer lending: A kind of social lending, this type of loan has become much more common as a result of the internet and firms like Funding Circle leading the way, with most peer-to-peer lending platforms being online-only. Different investors contribute to the loan, expecting a return on their money. Terms tend to be much more flexible than with banks.

Merchant cash advance: Primarily used as a short-term funding option for businesses that rely heavily on credit and debit card transactions, this involves having an MCA provider take a look at records of merchant account sales. For instance, they might look at the average month’s card sales and offer a lump sum in advance. Then, the borrower offers a percentage of their card sales until the debt and additional fees are paid.

Asset finance: Asset financing offers business owners the cash they need to buy assets, such as machinery or digital equipment. The user pays for the asset over a set time period, at the end of which they will have paid it off entirely, allowing them to offset the costs of buying it outright.

Business owners (and future business owners) would do well to know the scope of finance options available to them at any one time. They can serve as the fuel your business needs to invest in equipment, in property, in staff, and more, allowing you to push for the growth that it needs to make it in today’s markets.

Comparing Mortgage Products from the High Street Banks

Finance

Claire James

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23 January 2019

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Comparing Mortgage Products from the High Street Banks

From buy-to-let investors to first-time buyers, there’s no purchase more major than a new home. It’s one of the more expensive assets most people will ever acquire. Not to mention, one of the most complex processes to negotiate smoothly.

Even if you know what you need and what you can afford, you still need to compare mortgage deals from dozens of banks and specialist lenders. Stick with the High Street alone and you’ll need to perform an in-depth mortgage comparison involving thousands of possible options.

Under no circumstances is it ever advisable to sign on the dotted line, before considering every available option.

The Value of a Full Market Mortgage Comparison

In order to illustrate the value of a full market mortgage comparison a little more clearly, you’ll find a series of current offers from major High Street banks listed below. The following rates were correct as quoted in January 2019, based on borrowing £170,000 over a period of 25 years:

Compare Lloyds Bank Mortgages

2 year fixed mortgage

Maximum LTV – 60%

Initial rate – 1.39% fixed until 28 Feb 2021

Subsequent rate (SVR) – 4.24% variable

Overall cost for comparison – 3.8% APRC

Completion fee – Zero

Product fee – £1,499

Compare Yorkshire Building Society Mortgages

2 year fixed stepped cashback mortgage

Maximum LTV – 65%

Initial rate – 1.53% fixed until 31 Mar 2021

Subsequent rate (SVR) – 4.99% variable

Overall cost for comparison – 4.3% APRC

Completion fee – £995

Product fee – Zero

Compared Halifax Mortgages

2 year fixed for first time buyers

Maximum LTV – 60%

Initial rate – 1.49% fixed until 28 Feb 2021

Subsequent rate (SVR) – 4.24% variable

Overall cost for comparison – 4.0% APRC

Completion fee – Zero

Product fee – £995 with an option to add to the loan

Compare Virgin Money Mortgages

2 year tracker

Maximum LTV – 65%

Initial rate – 1.68% base rate tracker until 01 May 2021

Subsequent rate (SVR) – 4.99% variable

Overall cost for comparison – 4.4% APRC

Completion fee – Zero

Product fee – £995

Compare Chelsea Building Society Mortgages

2 year fixed stepped

Maximum LTV – 75%

Initial rate – 1.68% fixed until 31 Mar 2021

Subsequent rate (SVR) – 4.99% variable

Overall cost for comparison – 4.3% APRC

Completion Fee – Zero

Product Fee – Zero

Additional Tips for Choosing a Mortgage

A quick glance at the above is enough to drive home the importance of a whole-of-market mortgage comparison, before making such an important final decision. In addition, there are steps that can and should be taken when considering a mortgage application, in order to ensure you access the best possible deal for your needs.

Get your credit score in shape

The stronger your credit rating, the more likely you are to be approved. Not only this, but your credit score also has a direct impact on the overall borrowing costs you’re likely to face, if your application is successful. There’s not a lot you can do to boost your credit score in the short-term, but if you’re planning ahead, it’s an important point to consider.

Consider how much can you afford

Just because you can qualify for a certain amount of money doesn’t mean you can necessarily afford it. Remember – a mortgage is a long-term commitment, which you’ll be stuck with for 15, 20, 30 or even 35 years. Make sure you can afford the loan and avoid borrowing more than you need. Check loan comparison sites to get the best rates and financial advice.

Look beyond the High Street

Consider High Street banks by all means, but also compare mortgages from the UK’s specialist lenders. There are dozens of independent specialists in business up and down the UK, which may be able to offer you an exclusive deal you won’t find on the High Street.

Plumbing: could you tap into the trade, or is it just a pipe dream?

Business

ABC Staff

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23 January 2019

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Plumbing: could you tap into the trade, or is it just a pipe dream?

You could reap many different benefits from pursuing and developing a career in plumbing. The plumbing sector is rich in varied employment opportunities, while wages can be solid. You can also sustain a plumbing career in the long term, with posts in the likes of design and teaching available. See the most recommended online schools for plumbing here for yourself.

However, keep in mind that you will need to tick many different boxes in your journey towards becoming a fully qualified and competent plumber. These questions particularly warrant thought…

Do you have the right attributes for plumbing?

The day-to-day responsibilities of plumbing lend themselves well to practical people who derive satisfaction from completing the necessary responsibilities to their optimum ability.

You will particularly heavily draw upon maths, engineering and science skills in carrying out your plumbing work, so consider verifying that you hold GCSEs at A to C grades in all three subjects. You also need the trustworthiness to attract customers and communication skills to deal with them.

Are you patient enough to complete the relevant courses?

If your GCSE grades aren’t quite up to scratch, you could start by tackling that issue – but it would be only the tip of the iceberg that is undertaking effective study for plumbing work.

That’s because your study journey could require you to also collect a Diploma in Plumbing Foundation as well as NVQ Level 1, 2 and 3 courses in plumbing. WaterSafe warns against taking intensive or distance learning courses that skimp on practical theory or re-enforced learning.

Could you practically get work experience?

WaterSafe advises that you embark on an accredited course, such as an NVQ Level 2 course, at a recognised training provider, like a college. That course should include an adequate amount of practical study primed for helping you to become fully qualified as a plumber.

Hence, your college may attempt to arrange work experience for you with a local plumbing company. Still, with most one-man band plumbers unable to financially take on trainees, it would be helpful for you to apply for your own work placement by sending your CV to local plumbing firms.

Would you be willing to keep developing your expertise?

While completing the NVQ Level 2 – or, in Scotland, SVQ 2 – course would enable you to qualify as a plumber, it would be the bare minimum requirement, warns Local Heroes.

You could further add to your qualifications – and, indeed, your skills base – by undertaking the NVQ Level 3 course, or SVQ 3 course in Scotland, as well. Reaching this level can be a three-year journey but mark you out as officially competent in plumbing – a big plus point for when you look for new work.

Could you afford the required insurance?

Though your annual financial takings as a plumber could reach as high as £40,000, the costs of tax, petrol, tools and parking will come out of that. You might also need to pay for insurance, but the broker Be Wiser Business Insurance offers no obligation insurance quote comparison for tradesmen.

How to avoid a January sales slump

Business

Claire James

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17 January 2019

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The festive period is undeniably the busiest time of year for retailers, and with the public gripped by the Christmas spirit, the exuberance of the season leads most of us to spend heavily. In fact, UK consumers are estimated to collectively shell out a mind-blowing £446,000 every minute of every day on presents during December.

But after the highs of December come the lows of January, and even with the long-advertised January Sales, most stores struggle to meet targets as a result of the public’s reluctance to spend after Christmas. January and February are typically two of the lowest spending months of the year, but that doesn’t mean retail spending stops entirely. It simply means that as a retailer, you need to go above and beyond to connect with your audience and entice them to your store.

If you are worried about a slow start to the year yourself, then take note of the following tips to stave it off and begin the new year with a flourish.

Generate buzz by hosting an event

45% of global consumers say they would happily pay more for a better retail experience, so hosting an in-store event can give your brand an invaluable marketing boost. However, putting on the right type of event is essential, and the only way you can do this is by closely considering your customers—who exactly your audience is, and what kind of activities they’d enjoy.

Take Adidas’ award-winning “J ump S tore ” pop-up as a shining example of a successful event that was tailor made for a brand’s customer base. Designed in collaboration with retail design agency Form Room, members of the public were given the opportunity to (literally) grab a free pair of Adidas trainers. All they had to do was jump and grab one of the 120 pairs laid out on a platform ten feet above the ground (the same height as a basketball rim) within the time it takes to make a play in a basketball game. By integrating an activity that was sure to appeal to Adidas’ sporty customer base with the promise of free merchandise, the campaign tied in perfectly with their brand. What’s more, the “Jump Store” generated roughly £2 million of free media for the brand, showing just how profitable a promotional event can be.

Increase your advertising spend

Hosting an event is the not only way to ramp up your advertising efforts during the potentially fallow early months of a new year. British brands fork out a significant chunk of their advertising budget in the run-up to Christmas, with 28% of total advertising spend in 2017 being invested in Christmas adverts. So by optimising your advertising presence in January and February, you’ll steal the limelight from competitors, and increase your own brand’s visibility at their expense.

Marketing can take many forms, some more expensive than others, and the accessibility of social media advertising is an ideal place for the uncertain to start. The likes of Facebook and Twitter let you target specific demographics, so you can advertise directly to your core audience. Just be sure to get clued up on the art of social media advertising before you throw stacks of money at it.

Another worthwhile way to raise brand awareness is by advertising from your store itself. Window displays, merchandise and fixtures can all be leveraged to attract people to your store and increase footfall. As the face of your store, window displays are a particularly effective way to advertise to the public, so updating them regularly can emphasise different products at different peak sales times, as well as tell your brand’s story.

Encourage purchases with promotional offers

Did your brand offer discounts during Black Friday and Boxing Day? If so, these were probably some of the biggest reductions you offered all year, but you shouldn’t confine promotional efforts exclusively to these dates. Holding another promotion during January represents a great way to keep sales figures high and augment your other efforts to avoid a sales slump.

You might have to be creative to draw customers in, however. Offering smaller discounts than you did during the holidays may not be enough to appeal to your audience. There are many ways you can run creative promotions though, from launching new product bundles to running a buy one get one free offer—this also doubles up as a great way of getting rid of excess stock. You may also want to start a new loyalty scheme, or offer free shipping for online orders, if you didn’t already.

2019 Trends that are Shaping Technology

Claire James

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16 January 2019

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As the new year gets underway, CB Insights has put together a report on some of the top tech trends that will be shaping 2019. In particular, advancements in fintech detailed in the report will be of interest to business people such as Matthew Ledvina, director for a fintech company in London which focuses on asset-backed lending.

Hyper-Personalisation

Personalisation technology has been used for a long time to customise experiences for consumers when shopping online, playing games, streaming music, and all sorts of other activities. In 2019, it is predicted that personalisation will reach hyper levels, with an increase in collaborations across different industries. This prediction has been influenced by the 2018 collaboration between music streaming platform Spotify and Ancestry.com, which means data from DNA can be utilised to create personalised playlists linked to different regions and ethnicities. The beauty industry could also be exploring image recognition technologies to cater products tailored to individual customers. Both Apple and Amazon have received patents for personalising features such as responsive settings for automated vehicles.

Smart-Home Technology for Senior Citizens

As technology becomes ever more pervasive and tech-savvy generations get older, the market for technologies tailored to meet the needs of senior citizens is beginning to open up. While asking older people to actively input data on a regular basis may still be unlikely to catch on, there are a variety of emerging technologies that can assist with healthcare in the home passively, or by transmitting data directly to a carer if programmed to do so.

Sleep Technology

There are already smart products on the market that aim to help us get a better night’s rest by tracking sleep patterns, including smart pillows and mattresses. New wearable technology will be introduced into this category in 2019, such as sensors that monitor heart rate, blood oxygen levels, sleeping position, and other events that may cause sleep disruption, providing users with a sleep score.

Smart Buildings

It is not only our homes that are increasingly becoming equipped with smart technology. In 2019, we can expect to see a rise in smart buildings everywhere. The emphasis is on providing intuitive, comfortable work stations and offices that adapt to the individual needs and preferences of the user. These include technologies such as sensors that can track the number of people in a room, which will then be able to adjust the lighting levels or temperature accordingly. Occupancy metrics such as this not only help maintain a constantly comfortable level of heating or cooling, but also help increase energy efficiency by detecting when the room is empty and switching off accordingly.

Greener Transport and Logistics

The costs of buying and owning an electric vehicle, along with related factors that can cause inconvenience, mean that selling them to individuals is still not an easy task. However, areas where we may see a large increase in the use of electronic vehicles include public transport and logistics. The upfront costs to companies have been shown to pay for themselves over time, while aspects such as predictable routes and infrastructure that is easier to plan for make increased electrification in buses a strong likelihood in 2019. Greener vehicles are beginning to gain more traction in the logistics industry as well, with an increase in hydrogen fuel cell-powered trucks.

Increased Opportunities for Tech Apprenticeships

Many tech companies are now beginning to offer their own training courses and apprenticeships to bridge the gap between academia and employability. Students can train to learn the specific skills they need to enter a specific job, while only having to pay tuition fees once they reach a certain pay range.

Shaping the future: How Zhejiang University transforms lives

Education

Elliot

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16 January 2019

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Shaping the future: How Zhejiang University transforms lives

HANGZHOU, China, Jan. 11, 2019 /Xinhua-AsiaNet/ —

Responsibility. Hard work. Loyalty. These are the three tenets of a good life according to Zhejiang University Associate Professor Imran Haider Shamsi; a man who embodies the university’s motto: seeking truth, pursuing innovation.

Eighteen years at ZJU has helped to cultivate Shamsi’s talent, from undergraduate student to Ph.D. and Postdoc holder to becoming its first foreign faculty member of the Department of Agronomy, College of Agriculture and Biotechnology.

“I was made in ZJU by ZJU and for ZJU,” says Shamsi. “I know my Pakistani ancestors and my family and my beliefs; I never lose my identity. But I have also adopted the Chinese culture with a very open heart.”

Having embraced the opportunities offered to him as a student of ZJU, Shamsi is deeply passionate about his role as a teacher helping nurture future generations of ZJU students and he has amassed multiple awards, including the first place in the 2016 National University Young Teacher’s competition. He believes ZJU, as one of China’s leading research-intensive universities, is providing a pioneering environment for the creation and dissemination of knowledge.

Academic freedom is felt throughout ZJU and positively encourages the pursuit of interdisciplinary collaboration, the application of research to real-world problems, and the exploration of new ideas and concepts.

It is an approach that manifests in ZJU’s International Design Institute, as its deputy director Lingyun Sun explains: “We are good at inviting professors and students from other majors to join us. We think the most creative area is where science meets art, meets design, meets engineering — these four areas coming together can provide immense opportunities.

“Our ideas are concerned with how we can invent the future and ZJU is unique because of the environment, because of our joint institute with Alibaba (the Chinese e-commerce giant headquartered in Hangzhou) and because of the local manufacturing background. It is very interesting for us to have the opportunity to encourage students to transfer their ideas into the market.”

The latest exhibition of ZJU design students’ work included origami robots, an electric bicycle and a technology pillow that helps users enter a shallow sleep by simulating the ‘white noise’ of nature. Additionally, a lighting product that was on show is proving a huge commercial success.

Innovation is also evident in the teaching at ZJU and in 2018 one of its most creative and popular instructors, Weng Kai, was honoured with the Yongping Outstanding Teaching Contribution Award. Across the 14 courses per year he teaches, Weng’s classes are heavily attended, while he has also attracted 2 million registrations for his Massive Open Online Courses (MOOCs).

“I’m kind of a ‘wild’ teacher in that I wasn’t trained in a normal way. I graduated, thought maybe I could be good at teaching and wanted to do it,” offers Weng modestly when asked about his teaching style. “Actually, Zhejiang University has a very good tradition in how it teaches students. I graduated here, and I have the experience of the teachers here. I even use in my classes some of the examples taught to me by my teachers, so it’s like an inheritance, a legacy.”

Weng has been at the frontline of teaching and education reform at ZJU for 23 years. He believes that the close relationship between teachers and students at ZJU is crucial to success. “The students here feel part of a big family, we are quite close.”

Emphasising that point, Ma Keyi, an undergraduate in Chu Kochen Honours College, which is attended by the top 5% of ZJU’s students, is eager to give examples of how she has been supported in her endeavours.

“The college provides us with a lot of resources,” she says, “I have opportunities to do research and publish papers. Meanwhile, I can do internships to gain experience and put theory into practice. If you have an idea and you want to implement it the college will help you, if you want to study abroad the college will fund it, if you want to do anything that is valuable or meaningful the college supports you and will provide the resources.

ZJU also has an impressive record of supporting its students to achieve success in global competitions. In 2018 the university claimed victories at the Tokyo International Choir Competition, the RoboCup and the International Genetically Engineered Machine competition.

The RoboCup – a humanoid version of football’s World Cup – was held in Montreal, Canada and offered the team from ZJU the chance to demonstrate their innovative ideas in a competition that is designed to promote robotics and Artificial Intelligence Research, as well as push advances in technologies.

Chen Zexi, a member of the victorious team, revealed it was a surprise success: “We won the small size league. It was amazing. We won in 2013 and 2014 but this year we did not think about being champions because we were trying out new innovations. I have to give credit to the university for the great support we get and the funding.”

ZJU’s stated aims include advancing civilization, serving and leading society, and promoting national prosperity, social development and human progress. Its policies are providing the platforms for its students and staff to excel, just as it did with Shamsi nearly two decades ago. Wherever a person comes from, and whatever their background is, ZJU is eager to guide their evolution.

“A foreign talent should never consider themselves as a foreigner,” Shamsi says, “Instead, consider yourself as part of the society where you are and then you can contribute. Take responsibility for life, yourself, your work, your family and your organisation. Never be afraid of hard work. Show loyalty towards family, tradition, country, and the organisation you work for.

“I will tell you a secret: Every morning when I arrive at work at ZJU, I tell myself that it was ZJU that gave me respect and honour, and with this belief I start my day. This is the love I have for this college.”

Company Name: Zhejiang University
Contact Person: Ms. AI Ni
866 Yuhangtang Rd, Hangzhou 310058, P.R. China
Email: ai_ni@zju.edu.cn
Phone: +86-571-88206971
Country: China
Website: http://www.zju.edu.cn/english/

Managing the Finances After the Death of a Partner

Finance

Claire James

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13 January 2019

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Managing the Finances After the Death of a Partner

Losing somebody can be hard enough to deal with on an emotional level but dealing with the financial realities of their death at the same time can be very upsetting and unnerving. For many, they are suddenly thrown into the role of controlling finances for the first time in their life. Having to take control of family finances and trying to get by on less income can be incredibly overwhelming especially if you have lived comfortably for a long time. Unfortunately, bill paying and other financial burdens don’t let up until the end of a grieving period. And there are also the funeral costs to consider at the exact same time.

Here Is What to Do First

When somebody dies, you are all of a sudden thrown in the deep end, and you don’t even know where to start. And, with the emotional side of losing someone making matters so much worse its hard even to know where to start. However, there are five things that you should do and consider sooner rather than later to help you deal with the many financial strains that losing someone can bring.

Take Your Time to Adjust Before You Take Action

The first step is to simply refrain from making any major financial decisions during the initial shock of losing someone. Your mental and emotional state will need time to come to terms with the death which in time will help you think a lot clearer and more rationally. Then, if you don’t already have professional services in place such as a solicitor, financial planner or tax assistant then it’s time to get them in place to help you deal with the financial side of losing someone.

Locate the Important Financial Documents

If you are already aware of the location of such documents, then this first step will be a relatively simple one. Otherwise, you are going to want to find these documents and store them in a secure place. Such documents may include insurance policies, investment paperwork, property deeds and a will. You will also need to have your marriage certificate and your partner’s birth certificate. When notifying your insurance company, financial organisations and creditors you will need to produce a certified copy of your partner’s death certificate, so it is important to have several copies of this.

Learn How to Budget and Handle Day-to-Day Finances

Whether you kept to a budget whilst you were married or not isn’t relevant, you are going to have a whole new set of expenses to deal with and will probably have different sources of income than you had previously. Break your expenses down to monthly and annual payments. Once you have that all organised, write down all of your various sources of income, salary, rental income, etc.

What’s essential in budgeting is to let your income drive your expenses. This means that once you know how much money goes into your bank account each month, create a budget that will limit your spending to the amount of income you have. While this seems very basic, most people let their expenses drive the process, meaning that they spend money without taking a disciplined approach and hope that at the end of the month they don’t go into debt.

If you are used to handling day-to-day finances in your household, then you will find this step relatively easy. If not, then it is a good idea to assess your current financial situations and then make necessary cutbacks to save money however little it is. This could include cancelling certain services, subscriptions or any other discretionary expenses. A financial planner will able to help you calculate your current net worth, which is the total value of your assets minus the total debt that you are in. This information is essential and can help you develop an understanding of your current spending and future investment plans.

Planning for The Future

Now that you independently hold your family’s financial wealth, you are going to want to consider how you are going to manage it for your heirs. A financial planner will be able to assist you with setting up an estate plan that you provide for you now and then for your heirs in the future. Your goals for the future whether they are personal or financial are a smart thing to consider. It might be a good idea to take classes in personal finance and money management if you lack these skills. Depending on your situation, you might want to find a support group for people who have lost a partner. These kinds of groups can be both a comfort and a resource as you move forward with your life.

Windfall Payment

If you end up receiving a large sum of money from an insurance policy, make sure that you put it in the bank for 3 to 4 months. Don’t make any rushed or impulsive purchases or investments until you feel like you are in control and making rational decisions. There have been many instances where a surviving partner receives a substantial death benefit and begins spending it immediately, by buying all those things that “needed” to be purchased or by giving large gifts to children to help them out or to just be a loving person. Just remember that this money could prove very handy in the future so don’t spend it just because you have it.

Ways to Learn Forex Trading

News

Claire James

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10 January 2019

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Forex (stands for foreign exchange market) is a global decentralised market where currencies are traded, including all aspects of buying, selling and exchanging currencies.

Meanwhile, Forex is a source of solid income for those who know how to earn on the difference in exchange rates. Those who just entering the forex market may wonder how to start, where to find trusted forex resources and portals to start trading and further become a successful trader.

Forex is not a get-rich-quick scheme. You have to learn and master your skills and this takes some time and effort. Forex requires good training. All successful traders have gone through the learning stages. So, if you aspire to become a Forex trader and get some useful tips – keep reading.

Where to start learning Forex?

Getting started trading in the Forex market, devote your time to studying the market and the basics of trading. Today there is a bulk of educational resources related to Forex trading available for free.

Just google to look for trusted forex trading websites. Determine the most acceptable resources for you, with the help of which you can begin to study the material, or deepen your knowledge.

Top Forex resources for a trader

1. Investopedia – is the leading resource both for beginners and professionals. It provides an in-depth trading dictionary, articles on financial aspects, the latest market news and more.

2. BabyPips – well-known source for novices in Forex trading. It teaches you everything in a simple language, as well as acquaints with the basics of trading.

3. ForexFactory – is a community where traders discuss topics related to Forex, share ideas. Here you can find out what you are interested in.

You can learn the basics of Forex trading with the help of books, educational videos on YouTube and special webinars. It is important to find a source that explains the features of the market clearly.

Books form the knowledge base, but do not teach successful trades. Reading specialised literature is useful in combination with educational videos, webinars and practice on a demo account.

You can also join the forex traders community on the specialised forums, go through the plenty of threads and get trading tips from seasoned traders.

Practice with demo accounts

Once you have learned the basics, it’s time to practice on a demo before trading live. Working on demo accounts, you can gain practical experience and hone your trading skills absolutely free. Since this is a kind of simulator, your mistakes will not cost you a thing.

Most forex brokers provide practice accounts. You can easily register with forex broker and try trading. For example, Forex broker JustForex offers its clients demo accounts with trading conditions corresponding to the real ones.

Having acquired the necessary trading skills on demo accounts, you can switch to real trading. It is recommended to open a cent account and start trading with minimal costs. All operations on such accounts are conducted in cents, but the trading is real in contrast to demo. Herewith, the risks will be minimal, since the profits and losses are calculated in cents: $1 = ¢100.

For a novice trader who has learned the basics of trading and has applied them in practice will be easier to achieve profitable trades on real accounts.

Streamline your processes

Increase customer engagement to help drive sales

Consider offering retail as a service

Business loans

Invoice financing

Crowdfunding

Other forms of finance

Do you have the right attributes for plumbing?

Are you patient enough to complete the relevant courses?

Could you practically get work experience?

Would you be willing to keep developing your expertise?

Could you afford the required insurance?

Generate buzz by hosting an event

Increase your advertising spend

Encourage purchases with promotional offers

ABC Money 2025 - 1st Edition