How Blockchain Can Propel Your Business Into The Future

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StrategyDriven Managing Your Business Article |Blockchain|How Blockchain Can Propel Your Business Into The FutureBlockchain is an innovative digital transactions process where records are stored in a decentralized location. It is the basis of cryptocurrencies, but also provides a way of safely storing transactions like deliveries and private records. Private enterprise blockchain is a private blockchain where access is limited to authorized users. Here’s how blockchain technology can propel your business into the future.

Develop Your Presence In The Metaverse

The metaverse is a series of virtual spaces and digital transactions that take place in an entirely online environment. Blockchain enables the sale of items like non-fungible tokens (NFTs), unique digital items that are tradable and usable within the metaverse. With a private enterprise blockchain, you can start to stake your hold in the metaverse, creating digital transactions and records for your products.

Offer Radical Transparency To Your Customers

Customer experience is one of the biggest factors in business success. Many consumers don’t trust businesses, with statistics suggesting that almost 70% of people don’t trust business heads or even the leaders of their own countries. Radical transparency is the notion that your employees and customers can see every success or failure in the business. Customers will know the granular detail of what went wrong with their delivery in the same way you will.

As a private blockchain owner, you can decide what you share, but radical transparency is a key indicator to customers that you are confident in your business and prepared to own up to and fix your mistakes.

Be At The Forefront Of Sector Developments

Blockchain is hailed as the future of healthcare and real estate. Unique digital records for patients, or clients are predicted to speed up the process of buying a house or getting a medical decision, with all the information you need available in one location. As a company with your own private blockchain, you can be at the forefront of these developments, with a system readily set up to offer this as a solution for your own business.

Be Ready For Sudden Growth With Easy Scalability

When businesses suddenly scale up quickly, there’s often an issue with growth and cohesion. Sudden growth can sometimes be a huge blocker to a business, as internal teams and infrastructure struggles to keep up with an increase in popularity. With a private blockchain, you already have the foundations to scale your business. All of your company transactions, records and data are stored in one centralized place. Private blockchains are easy to scale with your business without the need for major growth or development.

Conclusion

Blockchain can propel your business into the future, providing the infrastructure you need to adjust to company growth, new trends, and the development of the digital metaverse. With the future becoming increasingly more digital, a private blockchain puts you in the best possible position to evolve with changing times and be ahead of sector developments. It also allows you to show radical transparency to your staff, and customers. Be at the forefront of technology by investing in a private blockchain network.

5 Things to Consider When Finding the Right Commercial Premises

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StrategyDriven Managing Your Business Article |Commercial Premises|5 Things to Consider When Finding the Right Commercial PremisesWhen you are looking to take your business to the next level, you need to start looking at commercial premises. However, where do you even start when it comes to looking for premises, and what do you need to be considering?

Commercial premises can help to elevate your business to the next level, so it is a decision that you do not want to get wrong.

1. Is the Premises Fit for Purpose?

To begin with, when you are starting your search, you need to look at whether or not a premises is fit for purpose. Changing the use of business premises, or trying to change something to fit your use will be costly and timely. It is better to get premises that are fit for purpose straight away, as opposed to trying to alter (or completely change) what you are looking at. Knowing what you need is crucial, even in the early ages of your search.

2. What Location Do You Need?

Creating a checklist will aid your search. For example, do you need a location that has great footfall? Are you looking for an out of town location, or is a huge parking lot important to you and to your business?

3. Is it Well-Built and In a Good State of Repair?

Some commercial buildings can look great on first inspection; however, when you start to look closely, you notice that work needs doing. For example, it may need a new commercial roof or it may need extensive repairs to make it watertight. If possible, try and visit the premises you are looking at on several occasions before committing or making a decision. To further aid your decision, you may also find it beneficial to seek assistance from a surveyor, or another contractor, who may be able to see things that you may have overlooked.

4. How Much Will It Cost Per Month?

Whether you are buying or leasing new commercial premises, you still need to know the cost per month. When you factor in everything from insurance, to business and trading rates – right down to electricity, water, and other utility costs, can you still afford it? You do not want to take on a large property if realistically you will only be using a quarter of it.

5. What Rates Will You Have to Pay?

Speaking to the owner, or asking the property agent, is always a good thing to do (even at an early stage in your search). Establishing what rates you will have to pay to the owner, or even to the local state, will help you see if the location is still affordable. For example, a lot of town center premises will have extra rates placed on them, to ensure that the area is kept clean and tidy for all visitors and residents. These costs will all add up, and they will be added to the top of your purchase price, or lease price. So, before committing, check not only that you are in the right location, but also check the property is affordable both now and moving forwards in the future.

8 Tips For Running A Successful Distribution Business

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StrategyDriven Managing Your Business Article |Distribution Business|8 Tips For Running A Successful Distribution BusinessWhile it is important to manufacture and deliver good products to drive more sales, most businesses would fall apart without an efficient distribution system.

An efficient distribution system is imperative for any business to thrive, especially in a global economy. Customers now shop online and expect to receive their products on time. So, if you’re planning on entering the business, now’s a good time. And if you’re already in it and want some quick tips on how to improve it, you’ve come to the right place. Listed below are a few tips that’ll help you run a distribution business successfully.

Manage your cash flow

Cash flow management may sound very simple- keeping track of the money coming in and going out. However, it’s not as simple as it sounds. The process gets tricky when money is tied up in stock. Making purchase and sale decisions and meeting other business expenditures becomes a headache in this case as maintaining balance is essential. One bad decision can lead to a series of losses for your business.

So, use tech tools to stay on top of your accounts payable and receivable. Set reminders for sending customers, suppliers, and vendors timely invoices to pay their dues. Doing so will help you stay in the green zone when managing cash flow.

Skill up

If you’re an enthusiastic learner, consider equipping yourself with additional know-how in supply chain management. Or motivate an existing resource in your business to do the same.

You can search for a budget-friendly online MBA in supply chain management on the internet to fast-track the learning process. These online degrees/courses specially cater to professionals looking for ways to enhance their knowledge, but don’t have all the time in the world to go back to campus-based education. By enrolling in such a course, you’ll learn many new tricks of the trade, including better inventory management, decision-making, etc. The updated info will help you run your operations more seamlessly.

Invest in automation

It’s always good to invest in your business and upgrade it. So, if you’re still running your business the old-school way, it’s time to become tech-savvy. Automating your processes, including inventory management, payments, and tracking will help you manage operations better and provide customers with better services. Your system will also be able to generate purchase reorders to keep inventory levels at the desired number for each product. This way, you won’t have to constantly count what to order and restock.

Automation will help reduce time lost in manual labor and eliminate errors in order fulfillment. You can then use the money and resources you save in other crucial business aspects such as marketing and customer support.

Organize your inventory

Maintaining inventory is perhaps the most essential part of a distribution business. If your inventory is unorganized, work will get difficult to manage. Staying on top of it is imperative, and some proactive measures can go a long way for your business.

Track and update your stock with invoices and physically oversee the store to double-check. It’s good to use technology here, i.e., barcode tagging and scanning to log incoming and outgoing shipments. Ensure your warehouse is tidy, well-organized, and safe from environmental threats. The last thing you want is your merchandise being damaged before it even reaches customers.

Make the ordering process simple

If a customer can’t place an order easily, they’ll likely not use your service again. Therefore, you must ensure your customers have a seamless experience while using your service.

A user-friendly website can be of great help. Ensure your website loads fast, and use efficient software to reduce the ordering time for the customer. Keep navigation simple and provide multiple payment options to facilitate more customers. Providing a fast, seamless experience means people will be more likely to use your service again and recommend it to others.

Prioritize customer support

At the end of the day, happy customers will drive your business to success. And considering that you’re not the only one in the industry, providing excellent customer support will help you retain a competitive edge.

Instead of relying solely on low-price strategies, focus on the quality of service and maintaining high customer satisfaction levels. Always provide your customers with the best products and services. Use chatbots on your website and social media accounts to provide 24/7 support and address customer complaints. You can also collect feedback from your customers on how they feel you can improve your service and incorporate it into your business model. You can leverage trust in your brand to build a loyal customer base for a steady income stream.

Invest in staff development

As a business owner, you must see if your staff is suitably equipped to adapt to any long-term organizational changes you implement. Investing in their growth means investing in your business growth also.

Providing your staff with the proper tools and training will ensure better productivity, whether it’s stock handling or customer support. This is also a good way to keep your staff more engaged, motivated, and loyal to your business. While employee turnover rates in 2021 were as high as 57%, research states that 94% of employees would stay with their current jobs if employers invested in their long-term training. So, invest in building a solid team.

Branch out your sales channels

A diverse customer base is always ideal for a business. However, you can’t cater to more customers with limited sales channels. So market your business and establish touchpoints n different channels, including social media and third-party retailers like Amazon. Incorporate an omnichannel strategy in your marketing mix. By catering to more customers, you can nurture more leads and sales.

Conclusion

When running a distribution business, the stakes are high because customers want their stuff on time and in good shape. This article mentions a few tips to help you run such a business model smoothly. While sound management is essential along with tech integration and providing customers a seamless experience, consider honing your expertise in the supply chain industry by seeking more education. By following the tips mentioned above, you can increase your chances of running a successful distribution company.

What Kind Of Support Should Your Business Rely On In 2022?

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StrategyDriven Managing Your Business Article |Business Support|What Kind Of Support Should Your Business Rely On In 2022?It has been a turbulent couple of years for many firms. Support has felt in short supply.

While competition has increased in some sectors, it is also fair to say that a sense of unity can be felt across industries too. With livelihoods on the line, very few firms will not support their peers however they can.

Of course, some companies make it their express purpose to provide unwavering support. Your firm could have a brighter future if it engaged with such entities. But who are they?

Here is the kind of support your business should rely on in 2022.

Group Purchasing Organizations

The pandemic has been tough for most sectors. Consequently, many suppliers have hiked prices, while numerous smaller firms have struggled to secure the funds to purchase what they need.

Increased leveraging power would be of great help in such situations. Fortunately, this is what Group Purchasing Organizations provide. GPO purchasing saves businesses time and resources, allowing them to rally together under a membership base. After that, the GPO negotiates with suppliers on their behalf, using their combined spending for better negotiation terms, conditions, and outcomes.

If you are still asking yourself, ‘what is GPO purchasing?’, Procure Analytics can help answer any lingering inquiries. They explain the perks of these arrangements and how all three parties benefit; the GPO, suppliers, and buyers. Additionally, you will also find details of how trustworthy GPOs can provide robust savings analysis services before your firm joins. Do some further reading if you do require further assurances.

SEO Services

Many firms are slipping into obscurity. Those that do not have a strong presence online, thanks to diligent search engine optimization strategies (SEO).

External experts and consultants can implement these digital marketing tactics in your business. Try to do some further research on SEO’s benefits, as it can optimize your marketing campaigns and generate more credibility and exposure for your firm. All of this will help you stay relevant in industries that are becoming increasingly cutthroat and competitive.

Marketing is firmly a discipline of its own today. It requires constant dedication to monitor key trends, create compelling content, and draw in an audience in a world where attention spans are short and fickle. Only dedicated experts who treat SEO as a full-time pursuit can secure you a steady trajectory of success and ultimately free up time for you to run other aspects of your enterprise.

Cybersecurity Services

Cybersecurity is an essential aspect of a firm’s infrastructure today. Without it, businesses big and small can be raised to the ground in a heartbeat.

However, there were almost 500,000 job vacancies in cybersecurity last year, despite industries worldwide adopting more digital working methods. Skills shortages in the workforce were principally blamed. The challenge of filling these positions will likely not ease this year, given the extent of the problem.

Therefore, it is probably more prudent to engage an expert cybersecurity service. Whether they are directly responsible for implementing measures or operating in a consultancy capacity, their knowledge and wisdom should make your firm safer in the long run. Cybersecurity cannot be mastered overnight with a series of Google searches, so having this extent of knowledge at your disposal is key.

Does the company supplying e-services need to register to VAT in Poland

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StrategyDriven Managing Your Business Article |VAT in Poland|Does the company supplying e-services need to register to VAT in PolandThere is no denying that every entrepreneur wants to reach as many buyers as possible. This is the reason why many of them decide to provide e-services. Thanks to that they sell their goods and services on foreign markets. This raises the question of whether you should register as a VAT payer in Poland.

There is no denying that every entrepreneur wants to reach as many buyers as possible. This is the reason why many of them decide to provide e-services. Thanks to that they sell their goods and services on foreign markets. This raises the question of whether you should register as a VAT payer in Poland.

There is no denying that every entrepreneur wants to reach as many buyers as possible. This is the reason why many of them decide to provide e-services. Thanks to that they sell their goods and services on foreign markets. This raises the question of whether you should register as a VAT payer in Poland. The sale of electronic goods or services to individuals from another EU country involves a number of tax obligations. From 1 July 2021, with the so-called VAT e-commerce package, regulations simplifying these settlements came into force. Read our article and we will certainly brighten up your Vat in Poland.

What is VAT OSS?

VAT OSS (One Stop Shop) is a VAT settlement prcedure that replaced the previous one – VAT MOSS (Mini One Stop Shop). As we have already written in the introduction on 1st July 2021 new regulations came into force. The previous VAT MOSS procedure, which concerned the sale to individuals from another EU country of electronic, broadcasting and telecommunication services (so-called TBE services), has been extended to include the sale of goods by mail order to these entities (so-called WSTO), creating the EU VAT OSS procedure.

The EU VAT OSS procedure can be used by both active VAT taxpayers and non VAT taxpayers. VAT OSS registration does not interfere in any way with VAT-EU registration. It also does not result in losing the right to VAT exemption, due to the fact that sales settled under VAT OSS are not taken into consideration when verifying sales limits for VAT exemption.

VAT OSS – when is it worth using?

Every entrepreneur should remember that registration for VAT OSS is fully voluntary and depends on the decision of the seller. When making mail order sales of goods or providing services to private individuals from another EU country, they must keep an eye on the sales limit.

What is the sales limit?

The limit for sales to private persons from another EU country under the VAT OSS procedure is EUR 10,000. In case of Polish sellers, converted into PLN, the limit amounts to 42 000 PLN. Until the sales limit is exceeded, Polish entrepreneurs tax their transactions as domestic sales – applying the Polish VAT rate. After exceeding the sales limit, they are obliged to tax the transaction at the VAT returns applicable to the buyers country. Until the implementation of new regulations, which took place until 1 July 2021, after exceeding the limit of mail order sales in a given EU country, Polish taxpayers had no choice and were obliged to register for VAT in the country of exceeding the limit. This involved not only the registration obligation, but also the obligation to keep records and reports, i.e. accounting for VAT in another EU country. At that time, it was necessary to use the services of accounting offices that specialized in the knowledge of tax laws of other countries, which entailed additional costs.

To sum up, the VAT OSS procedure simplifies the settlement process, because once the limit of mail order sales in the EU has been exceeded, the seller can still settle the VAT with the Polishtax.com.