Primasia Corporate Services Limited: July 2019

Tuesday, 23 July 2019

Solve Late Payments with Primasia and Xero

Are late payments hurting your business? As Xero certified business advisors, Primasia is your partner in Cloud Accounting and able to assist you in clearing all those late payments quickly! Our specialists assist you and get your company up and running on the future of accounting-- Xero. We will provide the training you need to utilize this amazing software and get to the bottom of your invoice pile. Xero provides a deeper understanding of your business and will help you understand how successful your business is at a glance. Primasia and Xero can also help you get through tax season with minimal stress, leaving you feeling confident and successful.

Think late invoices are no big deal? Think again! Late invoices can have a huge impact, and devastating effect, on a company’s cash flow-- especially small businesses. In today’s world it has almost become the norm to pay bills late, and this has a direct impact on your bottom line. Here are the facts from PayPal and Xero’s research:

In an average month, almost half (48%) of invoices are paid late. They are also paid 14 days late on average.
The situation only gets worse over time: on an average day in February 2019, businesses were owed £23,360. Compared with February 2018, when businesses were owed £20,004 in late payments – that’s a 17% increase in twelve months. Shocking.

37% of entrepreneurs have considered giving up their business entirely due to cash flow issues. If even a fraction of them actually did give up, this would cause economic instability.
Three-quarters of entrepreneurs say that running a business would feel more ‘worth it’ if late payments weren’t a thing. And 26% say they’d enjoy better physical health!

Invoice
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Late Payments
Primasia Corporate Service

In essence, this means that business owners are experiencing poor cash flow, which leads to rising debt and feeling of failure. This creates a vicious cycle, after all it’s hard to lead a company when you’re feeling like a failure!

Taking initiative to solve the late payment problem can be the difference between your company thriving, or failing. By investing and using modern technology such as Xero, businesses can eliminate their late payments and ensure they get paid in good time in the future.

While you focus on the important stuff, let our financial experts provide you with the Payroll and Corporate Services that will help your company thrive. Get back to business, with Primasia Corporate Services. Ready to get started? Email us at info@primasia.hk or Call 2882 2088 today!

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Primasia Corporate Services LimitedCompany IncorporationHR & PayrollAccounting & TaxFull China Services

Connect with Primasia Corporate Services Limited

Hong Kong Headquarters: Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Website: https://www.primasia.hk/

LinkedIn: https://www.linkedin.com/company/primasia-corporate-services-limited-pcs-

Facebook: https://www.facebook.com/PrimasiaCorporateServicesLimited/

Twitter: https://twitter.com/PrimasiaHK

Credit: Prosperity Research Digital Agency(PRDA): PRDA's Founder Douglas White developer of proven 5 step, 4 KPIs process of Social Media Marketing.

Wednesday, 3 July 2019

Three Strategies for Entrepreneurs Stay True to Your Vision.

Are you an entrepreneur or small business owner? Since 1987, Primasia Corporate Services has worked with thousands of overseas and local clients, including entrepreneurs, consultancies, manufacturers, trading firms, and start-ups, helping them to set up successfully in Hong Kong, China, and offshore jurisdictions. That means that for over 30 years we’ve seen what works successfully in the business world… and what doesn’t work.

As a entrepreneur, you are sometimes referred to as “dreamers”. And for good reason-- after all it takes a lot of creativity to come up with new ideas, concepts or new methods of achieving the tried and true. It’s essential to take the time to set up a clear business plan of action, conduct market research, gather strategic resources, and finally launch your dream into action. But in today’s saturated business ecosystem you will find fierce competition-- and sometimes this will cause entrepreneurs to lose their vision as they grasp at any straw in order to succeed. Clarity is gone.

Its your dream, your vision, that sets you apart from your competition. however, and thus you need to be prepared to keep your clarity AND be flexible enough to change when needed. Tall order don’t you agree? Here are three strategies to help you stay true to your vision, even when during setting up your start-up-- and the whirlwind that goes with it:

Hire Energetic People. You will need an endless amount of energy to be a successful entrepreneur, by hiring team members with the same energy and enthusiasm you can draw from one another to reach your shared goals-- a successful company!
Complete Clarity. Ensure that every team member knows your vision, has a complete understanding of your company and goals, and knows exactly what they were hired on to accomplish. Every member of your team should know how their specific tasks help make your vision a reality.
Flexibility. Yes, it’s important to stick to your vision, your core values and mission, but allow room for change. Hopefully you did your research, but even still costs, products, and even your understanding of your target market could need to be adjusted. Adapting to change is essential to company success.

Primasia Corporate Services is here to help you with many of the finer details of running your business, including China e-commerce solutions. Contact us today to learn more!

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