If you’d like to host a team-building event, why not get your remote workforce together and establish a cooking workshop online? This is a great way to promote cooperation among your staff and get them involved in a fun and delicious activity.
Online companies offer cooking workshops so you can schedule a digital gathering.
Besides delivering the ingredients to each participant’s door, the host company will also provide the chef and direction. However, you’ll still need to make sure you have all the tools required to support the activity.
Ten Tools for Cooking Success
Basically, you need to have the following ten tools available to ensure that your event is a success:
1. The Recipe
Naturally, it’s easier to prepare food when you have a recipe. So, each participant needs to have a recipe, or instructions to follow.
2. Measuring Cups and Spoons
You’ll also have to have the proper measuring tools to measure out the ingredients.
3. Mixing Tools
When mixing the ingredients, you’ll need items, like wooden spoons, for mixing the ingredients. Depending on the recipe, you may need a spoon, spatula, whisk, blender, or electric mixer.
4. Pots and Pans
You’ll also need pots and pans, depending on what you plan to make. For pasta, you’ll need a pot, or a pizza pan if you’re planning to bake pizza. Make sure the pots or pans you use are made of nylon and stainless steel so they resist sticking or scratching.
5. Can Opener
Maybe you’ll need to open a can of tomato sauce. Maybe it doesn’t have a pull-off top. If so, you’ll need to have a can opener – just in case.
6. Slotted Spoon and Soup Ladle
If you’re preparing rice or pasta, you’ll need to have a slotted spoon – for draining the liquid. Or, if you cook soup, you’ll need a serving utensil, or a ladle.
7. Knives and Peelers
You cannot cook without knives or peelers, as they’re used to prepare and cut or peel vegetables and similar toppings.
8. Grater
A grater always comes in handy when you want to grate vegetables or cheese.
9. Tongs
You’ll need tongs if you cook hot foods that require care when they’re served and to prevent from getting burned.
10. Oven Mitts, Towels, and Dish Cloths
You’ll also need oven mitts for removing dishes from the oven as well as towels and dish cloths for clean-up during and after cooking activities.
Tips for Cooking Success
You should refer to the above list if you plan to hold a cooking workshop for your remote employees. Use the aforementioned suggestions as a reference.
Popular cooking workshops feature cuisine in the form of pizza, tacos, and pasta.
Ask the participants to review the recipe before the activity to ensure they have all the needed tools and can keep pace with the chef. Tools should be placed so they can access them easily.
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Wage rates are not rising rapidly. Additionally, your savings account will not make you a lot of interest. But don’t worry. Instead, consider investing to stay ahead of this terrible financial state. Here are some of the many benefits of investing.
1. It Keeps You Ahead of Inflation
According to experts like Patrik Edsparr and professionals in the investing business, if you don’t invest your money, you will lose it over time. That is due to inflation. This is the regular increase in prices of goods and services, which causes your dollars to have less spending power. While inflation varies widely, the historical average is a 3 percent yearly increase.
2. It Builds Your Wealth
Investing is how people build wealth. You have hundreds of different options to choose from to become an investor. If you want to build wealth, sit down with your options and plan how to make money with this approach.
3. It Gets You a Retirement Fund
To properly prepare for retirement, you need your money to work for you now. Leaving your money in a standard savings account will not cut it. Instead, investing will allow you to take advantage of compound interest, giving you a good retirement cushion.
4. It Helps You Save Tax Money
Another significant benefit is that it allows you to save money on taxes. According to investment professionals like Patrik Edsparr, putting your money into a SEP IRA, 401k or IRA prevents it from being taxed. Instead, you are taxed on your money when you take it from these accounts after you retire. That can save you a lot in taxes when you earn income.
There are a lot of benefits to investing. Creating an investment plan can help you create financial stability, build wealth and plan for retirement. Do more research and develop your portfolio to start reaping these benefits.
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As a business owner, you’re probably always searching for ways to keep your business running smoothly. However, with the ongoing COVID-19 pandemic, it’s not as easy as it used to be. Small businesses have been hit particularly hard, with many struggling to stay afloat. Thankfully, the CARES Act offers several benefits that can help small businesses navigate economic challenges.
Signed into the law in March 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES ACT aims to provide economic relief to individuals and businesses impacted by the COVID-19 pandemic. The act includes several provisions that are aimed specifically at helping small businesses.
Small businesses are vital to the US economy. In fact, they account for 99.9% of all enterprises in the United States and employ more than 47% of the private workforce. However, many small businesses are struggling to stay afloat due to the ongoing pandemic. The CARES Act can help ease some financial burdens small businesses face.
If you’re a small business owner, it’s important to understand the benefits of the CARES Act and how you can take advantage of them. To help you get started, the ERC Today has created a CARES Act Eligibility Guide. This guide can help you determine which benefits you’re eligible for and how to apply for them.
In this article, we’ll look at the benefits of the CARES Act for small businesses and how you can use these programs to keep your business afloat during these challenging times.
Paycheck Protection Program
As a small business owner, navigating the financial impact of the COVID-19 pandemic has likely been a major challenge. Fortunately, the Paycheck Protection Program (PPP) is one part of the CARES Act that can help ease the burden.
PPP was established to help small businesses keep their workforce employed during the COVID-19 crisis. The program provided $349 billion in loans to eligible businesses to cover payroll and other operating expenses to maintain employment levels. Loans can be partially or completely forgiven if firms meet certain criteria.
To be eligible for a PPP loan, your company must have fewer than 500 employees and have been in existence on or before February 15, 2020. Some other eligibility requirements include the following:
You must use at least 60% of the loan amount for payroll expenses for full forgiveness.
Sole proprietors, self-employed persons, and independent contractors
The Payment Protection Program (PPP) in the CARES Act offers the following benefits:
Provides small businesses with forgivable loans to cover payroll and other essential expenses during the COVID-19 pandemic.
Allows businesses to keep employees on payroll and avoid layoffs.
Offers a streamlined application process with reduced paperwork requirements.
Offers loan deferral for up to ten months, with interest rates capped at 1%
Provides additional funding for minority-owned and rural businesses through set-asides and dedicated funding.
Supports independent contractors, sole proprietors, and self-employed individuals who are eligible for loans based on their payroll costs or net income.
Economic Injury Disaster Loans (EIDL)
The EIDL program offers loans of up to $2 million to eligible small businesses and non-profit organizations affected by a disaster, including the COVID-19 pandemic. These loans are intended to cover operating expenses that the company could have covered if the tragedy had not occurred. Here are some benefits of EIDL for small businesses:
Low-interest rates of 3.75% for small businesses and 2.75% for non-profits
Repayment plans that can last up to 30 years.
For loans of up to $25,000, no collateral is required.
The money can be utilized for various business needs, such as rent, utilities, and payroll.
EIDL advances of up to $10,000 are also available, which do not need to be repaid.
To apply for an EIDL, you must have been in business as of January 31, 2020, and meet certain eligibility criteria. You can apply directly through the Small Business Administration (SBA) website.
It’s important to note that EIDL loans are not forgivable like PPP loans, meaning you’ll have to repay the loan amount and interest. However, the low-interest rates and long repayment periods can make it a manageable solution for businesses struggling during the pandemic.
Employee Retention Tax Credit (ERTC)
The ERTC is a refundable credit that can be used to offset certain employment taxes. The ERTC aims to motivate firms to retain employees throughout the COVID-19 epidemic.
To claim the ERTC, your business must have experienced either a partial or full suspension of operations due to a government order related to COVID-19 or a significant decline in revenue. Additionally, businesses must have fewer than 500 employees to qualify.
To claim the ERTC, you must report the credit on your quarterly employment tax return. If the credit exceeds the amount of employment taxes due, you can request a refund of the difference.
There are several benefits of the ERTC for small businesses, including:
The credit is worth up to 70% of eligible wages paid between March 12, 2020, and December 31, 2021.
The maximum credit is $7,000 per employee per quarter, making it a substantial financial relief for small businesses.
The credit can be applied retroactively to 2020, meaning businesses that did not claim the credit in the year can still do so on their amended returns.
The ERTC is available to businesses that received PPP loans, meaning businesses can take advantage of both programs to help them through the pandemic.
Flexibility with Retirement Plans
The temporary flexibility offered to retirement plans is one of the CARES Act measures that might help small enterprises. This provision is designed to provide small business owners and employees with greater financial flexibility during the pandemic.
One of the key changes to retirement plan rules is the increase in the loan limit. The CARES Act allows eligible participants to borrow up to $100,000 from their retirement accounts, compared to $50,000 from the previous limit. This higher loan limit may provide additional funding to small business owners and employees to help them withstand the economic effects of the pandemic.
In addition, the CARES Act also includes provisions that allow for penalty-free distributions from retirement accounts for individuals affected by the pandemic. Eligible individuals can withdraw up to $100,000 from their retirement accounts without incurring the 10% early withdrawal penalty that typically applies to distributions made before age 59½. These distributions can be spread out over a three-year period and can be repaid within that time to avoid tax liability.
Conclusion
In conclusion, the CARES Act can significantly benefit small businesses facing economic challenges due to the COVID-19 pandemic. It’s important to explore all options and take advantage of the assistance available. By utilizing the CARES Act benefits, small businesses can overcome financial hurdles and continue to contribute to the
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Finance is at the very heart of every business! Understanding and managing figures pertaining to your business helps to improve the survival rate of your business. Irrespective of the size of your business, correct management of your expenses can pave the way for the smooth functioning of your business.
More often than not, small business owners often fall prey to financial mistakes. No doubt, to err is human, but several small businesses cannot afford to make such mistakes. On the brighter side, many of these mistakes can be easily avoided if paid close attention to. In this article, we’ll dive deep into the most common mistakes small businesses make and how one can avoid them successfully. Read on to find out more!
1. Venturing in Without a Clear Plan
Starting a business without a clear plan for your finances is like walking blindfolded. You may never know when you will falter and fall. Hence, it is highly advisable to develop a business plan that maps out your business finances, the business model and the nitty gritty involved in its implementation.
No doubt creating a business plan is an arduous task which involves time, money and effort. But it sure puts you in a better spot with regard to your future expenses by bringing clarity along the road. It is also a great way to formulate realistic financial projections and set a stipulated budget aside for the coming year. Needless to say, this entire process can help you avoid bankruptcy.
If you are just starting out with your business and looking for professional help, then you must reach out to commercial financial consultants who are highly experienced in this field. Financial consultants are a one-stop solution for all your financial concerns – be it tackling operational challenges or looking for investment opportunities for your business. These finance experts can help you stay ahead of the game and beat the competition too!
2. Repurposing Previous Budget Plans
A common tendency for many small businesses is to repurpose the previous year’s budget plan for the years ahead. While this process might seem time-saving, it can in fact jeopardise business operations in the long run.
For instance, your business may now be operating in a different financial climate as opposed to the previous year. It can also be hampered by market conditions, pandemics, recessions or even natural calamities. These influences can have a solid impact on the working of your business as consumer spending habits change, and the cost of commodities increases or decreases depending on market conditions.
It is completely understandable to use the previous year’s plan as a benchmark for comparison. However, it is extremely vital to tweak it while keeping the current business circumstances in mind when creating a new budget for the year.
3. Opting for Personal Debts
Businesses often work in a volatile and unpredictable market. These conditions often lead to setbacks for your company, especially in the beginning stages of your business. Moreover, these setbacks can lead to financial repercussions, making it difficult for you to carry on.
More often than not, business owners consider personal finances and savings to fund their daily operations, work on business expansion or recover from setbacks. Hence, an alternative solution is to discover cost-effective low-credit loans.
These emergency loans are quick in nature and tailored specifically for individuals who are on a low credit score. This process ensures you do not need to dig into your personal finances and still manage to stay afloat through verified and genuine sources of finance.
4. Spending Far Too Much Unnecessarily
It is really tempting to get your hands on the best technology that can streamline your business or perhaps heavily invest in marketing activities that can help you reach a wider audience.
It could be a swanky office space that you want to invest in for your business or hiring highly experienced employees. Certainly, the key here is the prosperity of your business as these factors can provide the much-needed push for your business. But maybe being frugal for the time being is a better alternative than going back to zero. Besides, it doesn’t make much sense to spend recklessly while you are still trying to boost profit.
It is imperative to formulate a realistic budget and stick to it for the time being. There are several things that a business can do away with at a nascent stage such as a posh office space or the latest technological gadgets. These little saving tips can certainly help your business function better in the coming years.
5. Failure to Set Up an Emergency Fund
In these uncertain times, one is likely to face unexpected expenses on the way. Emergency funds can be a great way to safeguard your business from these. To simplify, these are the type of savings that help in preventing debts during an unforeseen situation or crisis.
It is highly recommended to set up two types of emergency funds. One that specifically covers the business front and the other that helps with personal finances. Actively saving up can also help in running your business comfortably.
How do you know whether your savings are enough? For starters, consider whether you can comfortably run your business for the next 3-4 months without any flow of income. If yes, then you have enough savings to start with. Ensure to demarcate between your business account and personal account. More often than not, entrepreneurs add their personal expenses to the business account, which leads to difficulty in the management of cash flow.
6. Failure to Focus on Cash Flows
Small business owners often fail to pay attention to their cash flows and profit margins on a regular basis. Ignoring the expenses and revenue generated by your business may lead to many other problems. For example, avoiding the math will hamper your overall business operations in the long run.
Keeping a tab of your daily income and expenses can give you a fair idea of your progress and keep you on top of things. Moreover, this rough estimate can help you project your potential profit margins and be aware of cash flows in the business.
7. Underestimating the Power of Financial Tools
The days of managing business finances manually are long gone. Although this process has its own perks, it is open to several inaccuracies and mistakes. Not to mention it can be cumbersome and inconvenient for a business owner to manage on a daily basis.
There are several accounting software and tools that are inexpensive and can help ease the process of making informed financial decisions. Additionally, these tools offer accurate and reliable information from a single source, eliminating confusion and miscalculations.
8. Not Paying Enough Attention to Research and Marketing
While it’s fairly understandable that this might not be your first priority when starting a business, research and marketing can significantly help you boost business growth. Investing highly in marketing isn’t a requirement in your initial years of work. However, one must keep track of organic marketing methods as these can drive sales and ROI for your business.
Creating a solid content marketing strategy that is focused on your ideal audience is a better approach than running paid ads in the developing stage of working. This can boost brand awareness and brand visibility as you offer information and engaging content to your audience.
The flip side of this is that small business owners end up spending a huge cost of their savings marketing in the initial stages of work. At the very beginning, you might have to experiment with different marketing strategies and some of them might not even fare well, leading to a big hole in your pocket.
Hence, it’s best to gather a fair idea of the market and its working before you dive into investing heavily in marketing-related activities.
To Sum It Up
Starting a business from scratch can often be intimidating and arduous for any small business owner. However, being equipped with sound knowledge of the industry and the best practices to follow can help it stay afloat. While some setbacks are unavoidable, a conscious effort to learn from your mistakes is what makes an entrepreneur stand out from the crowd.
Common financial mistakes such as spending lavishly or not keeping a tab on your cash flows can deeply hamper the daily functioning of your business. It is imperative to reach out to professional financial consultants when stuck at any stage of working.
Remember to actively make decisions to save up and have an emergency fund as a backup. In case of emergencies, it is always a great idea to look for low-credit loans that are quick and accessible to all. Keeping these tricks in mind can help you minimise the risk associated with business and pave the way for a successful venture.
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Are you all set to join the crypto investing bandwagon? It’s an excellent decision if you want to make the most of the market opportunity. But you may also feel overwhelmed by all the hype and uncertainty. Well, it’s normal to worry when money is involved, right?
Statistics show that the daily crypto trade volume is $50.9 billion, and it will only get bigger in the future. With so much money at stake, investors need to be extra cautious about the risks and threats in the industry. The last thing you should do is depend on luck. You’ve got to have a winning investment strategy to achieve your financial goals.
So how do you create one? There are no shortcuts, and you cannot take a one-size-fits-all approach. Here are some foolproof tips to get your game right.
Do Your Research
Crypto is a relatively new domain, and there’s a lot to learn, specifically if you are a beginner. Before diving in, brush up on your basics, such as the different cryptocurrencies, the technology behind them, and the market trends.
Following the hype looks easy, but it may not be the best way to start your investment journey. Educate yourself because it can help you make informed decisions.
Diversify Your Portfolio
Nothing gets better than diversifying your portfolio when it comes to any investment, and crypto is no exception. Diversification is the mainstay of a winning strategy because it lowers your risk and helps you weather any market fluctuations.
The best part is that the market has several options, so you can pick different coins to diversify easily.
Secure Your Investments
This one’s a no-brainer because security risks abound in the landscape. Since cryptocurrencies are digital assets, they are inherently vulnerable to cyber attacks and theft. Luckily, a few measures are enough to secure your investments. Use robust passwords, change them frequently, and enable two-factor authentication.
Storing your coins in a secure hardware wallet is a good idea. Bring a crypto recovery lawyer on board if you lose your coins due to an exchange’s negligence. They can help you sue in exchange for hefty compensation if it falls short of compliance.
Play With Common Sense
Emotions have no place in winning crypto investment strategies, so keep them out from the outset. Remember that investing here can be a rollercoaster as prices soar one day and fall the next.
You must steer clear of impulsive decisions based on greed and fear. Think long-term, and don’t let market fluctuations influence your choices.
Stay Up-to-Date
The crypto market is dynamic, so you must stay up-to-date with the latest news and trends. Even the smallest changes in the regulations and prices could impact your investments. But adapting your strategy quickly can save the day.
Follow industry experts, join online forums, and read reputable blogs to stay informed. You may even get some valuable advice to capitalize on an upcoming opportunity from these sources.
Summing Up
Crypto is a lucrative investment opportunity, but only if you stay calm and take a strategic approach. Follow these tactics to stay ahead of the curve and earn big profits. All the best!
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Wage rates are not rising rapidly. Additionally, your savings account will not make you a lot of interest. But don’t worry. Instead, consider investing to stay ahead of this terrible financial state. Here are some of the many benefits of investing.
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