And welcome to this week’s Linkibuzz! The entire world is still buzzing about Donald Trump getting elected as the 45th President of the United States, but we are not going to add our straw on the camel’s back. Instead, we are about to look the other way from the storm – at least for the time being. In case you need a break from the Trump-centric news from this week, we have got you covered with our batch of freshest and most thrilling business and entrepreneurship stories.
Please enjoy the reads while we explore together the options of charge-free banking for your small business and look into the reasons why India has just scrapped its 500 and 1000 rupee notes (it has done so basically overnight). We are also pondering the ramifications of a potential shortage of medical and care staff once Britain finally severs the ties with Europe, and seek for inspiration in this week’s motivational story about Biscuiteers, the online biscuit-selling business that have exceeded all of its (and pretty much everyone else’s) fundraising expectations.
Let’s get started!
Banking services may be the necessary evil when you are running a small business, but bank charges aren’t something you should easily dismiss as irrelevant or even unavoidable. The Federation of Small Businesses in cooperation with smallbusiness.co.uk recently published an article on reducing or altogether eliminating the banking costs, just as nine major British banks launched fee-free basic bank accounts. Explore your saving options and learn more precious tips and tricks in the article linked above.
This past Tuesday, the Indian finance minister announced a government initiative that sent ripples of shock throughout the country. Namely, in an attempt to lock out unaccounted money or the so-called “black money”, India has decided to scrap all of its old 500 and 1000 rupee notes. While trying to make a move towards the cashless economy, the country is still far away from it: Some estimate that the banknotes that were declared illegal tender have represented up to 85% of cash in circulation in India! Given that corruption and tax evasions are two of the main culprits of poverty, the government hopes this move will aid the goal of eradicating the poverty of Indian people.
Once the Brexit process is finalised and the government introduces a point-based immigration system, the priority should be given to medical and care staff, advises Adam Pike, a former policy adviser at the Cabinet Office and the Treasury. It is key to think beyond the three-year cycle and see further into the future, as some estimates show that 2025 Britain would have a shortage of 600,000 carers. “Our population is aging and we desperately need them (carers). We need to train a massive cadre of new careers, because there are workers in industries that are suffering now and they have skills that are applicable to care. If we paid the profession better, and treat it as a profession, we can attract lots of people.” concluded Pike.
Need a fresh whiff of inspiration and enthusiasm for your slightly stagnant business bravado? How about this story about Biscuiteers, an online biscuit-selling company that has managed to raise £1.25m from 784 investors in 31 countries on the crowdfunding platform Crowdcube? The investors have supported the next phase of the company’s growth, as the company intends to spend this money on marketing, manufacturing, infrastructure, retail and international growth. That’s just how the biscuit crumbles – at least for these guys!
Regardless of major political events that shook the world to its core like Brexit and Trump’s election, the globe continues to spin. And so will our small businesses and startups, so it is key that you fine-tune your daily operations and financial strategy as best as you can. Read about cutting down on your banking costs through a couple of nifty tricks and get inspired by an online biscuiting company that raised their capital for marketing and international growth via crowdfunding! And while India is trying to indirectly eliminate poverty by banning large rupee notes, Britain faces a completely different set of challenges, like the predicted shortage of medical and care staff in near future.
We hope you enjoyed this week’s handpicked links and stories, and see you again in seven days!