Haines Watts have undertaken a UK company owner survey and found that business owners are drawing modest salaries and eschewing lavish lifestyles in favour of investing heavily in their business. They surveyed over 500 business owners from every region of the UK, from a complete range of sectors and a complete range of company sizes. UK Business owners are “crossing their fingers and hoping” that their business will deliver the returns needed to support them and their families – despite certain major risks to their business that have been heightened by the recent Brexit vote.
By Martin Straub
Automatic Information Exchange (AIA) of client financial data under the US Foreign Account Tax Compliance Act (FATCA) and the OECD’s Common Reporting Standard (CRS) is now reality. Information is flowing under FATCA and information will start to flow under CRS in September 2017. These unprecedented invasions of personal privacy have now removed any remaining illusion of client privacy or confidentiality.
By Vijesh Zinzuwadia, Zinzuwadia & Co. CA
Make in India is an initiative launched by the Government of India to encourage multinational, as well as national companies to manufacture their products in India. It was launched by Prime Minister Narendra Modi on 25 September 2014. The idea is for India to emerge, after initiation of the programme in 2016, as the top global destination for foreign direct investment, surpassing the USA and China. India received USD 63 billion in FDI in 2015.
By Raghu Marwah and Priyanka Ajmani, R.N. Marwah & Company
Although the cost of money in India has been reducing, in large part thanks to Governor Rajan’s generosity, the arbitrage with western economies is still at between 400 and 500 basis points. With the RBI easing regulations on commercial borrowing through the ECB, individual entrepreneurs are now looking forward to the moment when they will finally be able to dip their hand in the honeypot. Recently, this has led to widespread debate on the issue of overseas borrowing.
By Ian H. Turvill, Freeborn & Peters LLP
Across the globe, professional services firms are striving for growth. They employ many strategies to realise their objectives, but among the most common (certainly among law firms) is to hire partners from rival entities – so-called “lateral hiring.” Sadly, these hiring decisions often fail to live up to the heightened expectations associated with them. But this doesn’t have to be the case. Instead, there are three factors that distinguish the firms that engage in successful lateral recruitment and integration, and those that do not.
By Prof. Robert Anthony, Anthony & Cie
Quantitative easing has clearly created employment, albeit sometimes at low salaries. Whereas in the late 1980s hyperinflation was considered to be a way of creating demand, since the crisis of 2007 we have seen a different strategy. Initially there was speculation in safe commodities such as gold, but the price has now dropped from its previous high levels. Several advisors regarded it as undervalued and predicted it would continue to rise. As markets settled, despite the problems not being over, gold stabilised at a lower level. As we come out of slow growth, what effect will this have? Many think European equity markets are still undervalued. We have seen recent speculative selling, but markets have been volatile for a while.
By Dr Anuphan Kitnitchiva, Dherakupt International Law Office Ltd.
This time last year, millions of Thai citizens took to the streets demanding political and social reforms for their beloved country. The demonstrations continued for six months until the tense situation erupted on Thursday 22 May 2014 at 4.30 p.m. local time, with the Thai approach to resolution involving a peaceful coup d’état by the military. The military government was formed with a strong commitment to reform the country and to bring back a genuine democratic regime in which Thais from all walks of life would have the opportunity to participate and be involved by the year 2015.
By Alan Rajah, Lawrence Grant, Chartered Accountants
The 9 characteristics that I believe are the key drivers in being successful:
2. The need or an overwhelming desire to achieve
3. Screening for opportunity
4. Locus of control
5. Goal orientation
6. Continued optimism
7. Courage to see it through to the end
8. Tolerance to ambiguity
9. Strong Internal Motivation
By Olena Makeieva, Aksonova & Associates
In 2009 I visited a unique training IBR University Leadership Professor Stockholm School of Economics in Riga, PhD. in Psychology Larry Stout. Larry was able to represent us great, who is the real leader. We watched a movie about the great expedition explorer Ernest Shackleton in Antarctica. In 1914 Shackleton organized the Imperial Trans-Antarctic Expedition. Expedition ship, reaching the coast of Antarctica, sank as it was nipped. Hike ended catastrophe, but Shackleton managed to save the entire team and no one died. Intuitively, from the example of great men and their stories alive, comes the understanding of who the leader is, crystallize a clear understanding of the vital qualities of a leader.
By Eric R. Elmore. Drucker & Scaccetti, P.C.
Managing and growing a successful professional service company requires good communication. Of course, excellent service at a fair price that fulfils a need is the most important factor, but if you are not repeatedly communicating your message to your target audience, no one will ever know how good you really are, or even know that you exist! So it is important to have a plan in place for regularly communicating with your clients and prospects to keep your company’s name, brand and offerings continuallyon the minds of your primary audience.
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