Trading CFDs is an
excellent way to make profits whether you are a veteran trader or a beginner.
It involves putting your money on an asset depending on where you think the
price is headed. You buy if you expect it to go up and sell if you think it is
going to decline.

If you are just starting
out, you may need to take some time to understand the details of CFD trading. There are as many
platforms as there are providers and all come with their varied
functionalities.

As a result, you will need
to:

• Study how CFD trading works
• Create an account
• Figure out a trading Plan
• Find trading opportunities
• Choose a trading platform
• Open and close your first position

Study How CFD Works

First off, you must
understand what Contracts for Difference are and how they work. It may also be
necessary to find out about other forms of trading in order to understand it
better. The best way to understand CFD trading is by taking a
course with a reputable academy or provider.

There is also a lot information about this form of trading online. Reading articles from expert sources such as Saxo Markets will give you detailed information about CFD trading.

Create an Account

A beginner trader may be
advised to begin with a demo account. This allows you to learn the ropes as you
practice trading before getting into the thick of it. It is easy to open an
account and it will take you a few steps and very short time to open one.

You are required to fill
in some details which will then be verified. Once that is done, you must
deposit some funds into the account. From them on, you can top up your account
using your credit or debit cards or an online payment service like PayPal.

Create a Trading Plan

Your strategy will be
informed by several factors including the following:

• Your commitment and availability
• Your motivation
• Available funds
• Attitude towards risk
• Your preferred markets to trade
• Choice of strategies

Your trading plan will direct your trading
activity. Also, it will help you to fine-tune your strategies and guide you
into making better decisions when you are under pressure. Moreover, it helps
you to determine your expected profit, acceptable loss as well as risk management
approaches.

Find Trading Opportunities

There are lots of markets
to choose from. However, you cannot simply jump on the first one that comes up.
Remember, you must study the prices to determine the direction they are taking
before you buy or sell.

Markets include shares,
Forex, commodities, cryptocurrencies as well as indices. Your chosen platform
should be in a position to help you with is often an unnerving task.

Choose a Trading Platform

There are many platforms
to choose from that will help you with your accounts, positions and strategies.
They send you customized alerts and help you with trading as well as risk
management tools.

Open Your First Position

Everything you have been
doing so far has been leading to this moment; your first position. Once you
have chosen a market, you are ready to play ball. First of all, decide whether
you are going long or short.

Study your market of
choice and try to predict the direction the price is taking. Then, monitor all
your open positions and close them by choosing the ‘close’ option. If you think
the price is spiraling, go short. If it is rising, go long.

You will either make a
profit or a loss depending on how your predictions go. These will be calculated
by multiplying market movement by your trade’s size.

Conclusion

As you buy and sell, keep
in mind the prices. Also, be prepared for your predictions to go either way.
Making losses is a part of trading. However, you will make profits too. You could
also have a sound case of beginner’s luck and make a profit on your very first
try.

The trick is to be
patient, using the right tools to manage risk and knowing when to stop losses.

With over 5.9 million SMEs in the UK, the competition can be fierce in some sectors.

So if as a small business owner you’re looking to grow in 2020 it’s important to stay on top of business trends and news.

In post we’ll discuss the top three emerging small business tech trends you need to pay attention to.

By taking advantage of these rising trends you’ll be more effective, save a ton of time and take your business to the next level.

Top 3 Small Business Tech Trends

1. Cloud Technology

The cloud is going to become increasingly prominent in the years to come as companies move more of their business functions to online-based systems. As of 2018 research finds, 88% of UK businesses were already using cloud services.

Thanks to the cloud, small businesses can access technologies that were beyond them not so long ago. And that facility gives them a level playing field with much larger enterprises.

Another major advantage of the cloud is its affordability. Because you only pay for the services you use, your running costs will be much lower. Besides, most cloud-software make it easy to upgrade to more features as your needs change. So you can keep a lean infrastructure as you scale your business.

Cloud software also allows for flexibility and remote working with more ease than ever before. The end result of that being contented staff – if you have them – and improved staff retention.

Indeed, this is the case for accounting software. Here is what cloud accountants BrooksCity had to say.  Cloud accounting software gives SMEs the opportunity to invest in a low-cost technology platform. One that offers robust solutions and the ability to stay on top of your accounts from anywhere and at any time.

2. Automation Software and AI

Every year businesses in the UK are losing 120 hours to admin duties. This is a significant amount of time that small business owners can use instead to push their business forward. The rise of automation can be seen as a relief at a time when everyone is busier than ever.

Although still in its infancy, the rate of adoption for automation software is increasing at a rapid pace. And with good reason, entrepreneurs are able to achieve more with less by replacing manual processes with automated ones.

AI assistants for example can take mundane tasks like scheduling, notes taking or follow-ups off your plate. Think of all the time you spend chasing late payments, another growing problem.

Or you can use a chatbot to interact with your customers on your behalf. This not only frees up your support staff but gives customers instant answers to their queries.

Automation can be used for any number of processes, no matter their complexity. A growing number of very affordable solutions make this a very interesting proposition for small businesses looking to get ahead of the curve.

3. Personalisation of Customer Service

The customer relationship is in a constant state of evolution. We live in an era of technology with a range of channels through which prospects may reach you.

Today’s customers are product and brand aware and tend to have sound knowledge of the organization they are working with or buying from. In such an environment there is a massive expectation for customized services.

Such services must cater to the exact needs and wants of your customer, increasing their feeling of connection to your company. In other words, it keeps the customer satisfied.

As recent statistics show, seventy-eight per cent of consumers view content relevant to them as a determining factor in their decision to buy. And two-thirds of them, can and will switch brands if service is poor.

This means that the delivery of a personalised customer experience should be at the heart of your customer relationship strategy.

Conclusion

As we have seen, the small business space is ever evolving. But if you take the time to implement these key tech trends you have every chance of hitting your business growth goals and leaving your competition in the dust.

While technology has revolutionized business, it hasn’t made the business card obsolete. They remain a staple marketing tool. Business card etiquette goes through phases just like other social norms. Here are a few of the modern rules of business card etiquette, no matter what business you’re in or where you live.

Be Strategic When Offering Business Cards

Walking into a room and handing business cards to everyone is the social equivalent to spamming. You aren’t just wasting business cards on unrelated people, but you’re making yourself appear self-centered. Wait until the appropriate time to hand out business cards and give them to those who are interested or in the right position to make use of the information. Never hand out business cards at the wrong kind of events. For example, you’ll offend people if you pass out business cards at a wedding or funeral. However, there is no problem with putting a business card in the gift basket you send to the couple.

Be Careful with Social Norms when Designing Cards

Custom business cards can help you stand out from the crowd, but you’ll undermine your image if you make mistakes. Don’t use bright, bold, hard-to-read text. Don’t have so many images on the card that it is difficult to read. Don’t make the business card so large that it doesn’t fit in someone’s wallet or carrying case. Don’t put five social media profile links on the business card and leave off key information such as your name, address, phone number, and email. And don’t forget to tell them why they may want to keep the card, whether it is listing the services you provide or the items you sell.

Treat Business Cards the Way You’d Treat the Person

In much of the world, the business card is considered an extension of the person. Show up without business cards to exchange with each other, and you’ve committed a social faux pas. Don’t give out a dirty, dog-eared or smudged business card. That suggests you don’t respect the other person. Don’t show the business card in your wallet or pocket. That’s considered disrespectful. Carefully put the business card in a protective case.

Know the Rules for Multi-Lingual Business Cards

You’ll stand out from the crowd if you understand the rules for multi-lingual business cards and have them on hand for your clients and guests. A common solution is to have one side of the business card in English and the other side in the other party’s language. Even in countries like Korea and Japan where many people speak English, presenting a bilingual business card is considered a mark of respect. Hold the translated side toward the person when you give it to them so that they can read it.

International etiquette means going through the respectful rituals when distributing business cards. Don’t just throw them out on the table, leave them in a stack on the center of the table or rapidly hand them out to everyone. Exchange the business cards one at a time with each person. Hold them with both hands if possible, and take the time to read it. This is seen as respectful to the person who just gave it to you. Don’t write comments on the business card while they are present, because that’s considered disrespectful. If you need to write on something, write on one of your own business cards. However, it will always look bad if you have to write your new phone number or address on the business card instead of giving out business cards with the correct information already printed on them. Verify that the cards are clean and perfectly shaped before you distribute them.

Cryptography is a technique used to protect communications and information through the use of code. The aim is to ensure that only the creator and recipient can read and process the information. In this article, we will take a closer look at cryptography and its integral role in Ethereum.

The word cryptography combines the prefix ‘crypt’, meaning ‘hidden’, with the suffix ‘graphy’, meaning ‘writing’.

In computer science, cryptography is a technique that is derived from mathematical concepts combined with a set of rule-based calculations, known as ‘algorithms’.

Cryptology is used to transform communications and information into messages that are difficult to decipher. Deterministic algorithms are often use for digital signatures and verification, as well as cryptographic key generation, to protect web browsing and data privacy, and confidential communications, such as email and credit card transactions.

What Is Ethereum?

Ethereum is a multinational, decentralized money platform with many new applications. On Ethereum, users can write code to control money, as well as building applications that are accessible anywhere in the world.

Blockchain is commonly associated with Bitcoin, though it has many other potential applications reaching far beyond digital currency. In fact, blockchain is used in several hundred different applications today.

Until recently, creating blockchain applications required a complex understanding of cryptography, coding, and mathematics. However, times have changed. From digitally recorded property assets to regulatory compliance, blockchain has facilitated the development of previously unimagined applications.

Ethereum is a public blockchain network. Although there are several key differences between Ethereum and Bitcoin, the most important distinction is in terms of capability and purpose.

Although Ethereum users mine for Ether in the same way that Bitcoin users mine for Bitcoin, Ether is more than a tradable currency. It can be used by app developers to pay for services and transaction fees via the Ethereum network. The Ethereum Virtual Machine enables users to run any program, regardless of programming language. It streamlines the task of creating blockchain applications, simplifying processes and making them more efficient. Ethereum facilitates development of potentially thousands of different applications, all from a single platform.

According to ConsenSys cofounder, Andrew Keys, Ethereum’s Serenity will launch by the end of 2020. Keys recently announced that Ethereum will move stridently into Phase 1 of Ethereum 2.0, proceeding with the launch of shard chains. Keys believes that development of Serenity will effectively turbocharge Ethereum, bringing the platform closer to 2.0 levels of scalability.

Cryptography: One of Ethereum’s Key Components

Cryptographic proofs are critical to the operation of all blockchain systems, including the Ethereum platform.

About Domen Zavrl

With qualifications in cryptography gained through his studies at Stanford University, Domen Zavrl is well aware of the integral role of cryptography in advancing Ethereum technologies. Mr Zavrl has two PhDs, the first in Applied Macroeconomics which he gained from Klagenfurt University. His second PhD is in System Dynamics, exploring stabilisation of non-linear real-life systems.

Domen Zavrl completed Dartmouth University’s Tuck Executive Education. He studied Finance Accounting and Online Bridge Finance at Tuck School of Business, Dartmouth University’s graduate business college. Domen Zavrl also attended Duke University, where he studied Sports and Society.

In a professional capacity, Mr Zavrl has worked with some of the finance industry’s most prestigious companies, including OCR AG, Enpetro, MBB Ista, and Framingham Asset Management, the organisation that successfully bid on Postbank BH. He is a member of the Institute of Internal Auditors and has a special interest in macroeconomics stabilisation policy and institutional economy.

Celebrity marketing has been around as long as celebrities themselves. In the late 19th and early 20th century, author Mark Twain’s association with the Conklin pen company, and baseballer’s Ty Cobb’s branded tobacco were arguably the first well-known examples of what would now be called endorsement marketing. However, it was the 1990s and 2000s which saw the real explosion of mutually beneficial marketing deals between celebs and businesses. Meanwhile, in the present day, the rise of social media has ushered in a new era of influencer marketing.

Businesses are now choosing to partner with internet stars over more traditional celebrities for consumer outreach, with 86% of marketers and advertising agencies involving influencers in their campaigns. This is largely because they make less of a dent in their wider marketing budget. For instance, Mariah Carey was reportedly paid £9 million for her Christmas advert for Walkers crisps, whereas an Instagram influencer typically costs around £767 per 100,000 followers.

That said, influencers are now so prevalent that they’re seemingly blurring the lines when it comes to what makes a real celebrity, to the extent that some have dubbed Instagram stars as ‘the new celebrity’ while others even believe influencers have replaced them in the modern age altogether. Regardless of how they’re defined, it’s apparent that influencers can be a powerful marketing tool, if harnessed in the right way.

The advantages of influencer marketing

It works

Quite simply, influencer marketing has proven to be an extremely viable marketing strategy. Research from Celebrity Intelligence found that for every £1 spent on beauty influencers, brands get an ROI of £8.81, around 11 times more than with banner ads. With 71% of consumers more likely to make a purchase as a result of a social media referral, it makes sense that users would respond to recommendations from those they idolise.

You can target your audience more effectively

Joining forces with celebrity influencers within your company’s niche can make it easier to target the right audience. Their fans are likely to be receptive to your products or services and buy them to imitate their idols. This is why skincare brands tend to work with beauty influencers, food companies often team up with food influencers, and so forth. Take football megastar Cristiano Ronaldo, who often runs sponsored Instagram adverts for sports and fitness brands like Nike and Six Pad Europe.

Influencers build trust

Research shows that 63% of people put more trust in influencers’ messages about a business than the company’s own advertising efforts. This is because celebrity influencers have built up their own dedicated legion of followers who implicitly trust and value their recommendations. A good influencer will only recommend something they truly like, and their prestige and status also creates an assumption that they wouldn’t align themselves with something bad. Therefore, a content influencer’s post about your brand will often have instant credibility in the eyes of their followers, in a way that more traditional advertising will not.

The disadvantages of influencers

Working with the wrong influencers can be detrimental

Choosing the wrong influencer can actually cause significant damage to your company’s reputation. Take Volvo, who received significant backlash after partnering with lifestyle and fashion blogger Chriselle Lim on Instagram. Many of her followers were bemused by her first sponsored posts for the company, which were vastly different in tone from her usual content, putting across an eco-friendly message which seemed at odds with her extravagant lifestyle. This made the campaign seem unauthentic, causing both Lim and Volvo to go down in her fan’s estimations.

61% of brands have admitted to finding it challenging to identify the right names for their campaigns, making it clear that celebrity influencers aren’t always an easy route to marketing success. This risk of negative backlash may explain why more celebrities are working with PR agencies to try and keep their image as pristine as possible, with the celebrity PR experts at MN2S describing positive press coverage as “the cornerstone of any successful celebrity PR strategy.” As such, it’s very much in the minds of influencers that any branding partnerships they enter into should benefit their reputation.

Influencer mistakes can be costly

Mistakes can easily be made when using influencer marketing, which leads campaigns to end up doing more harm than good. One error is not clearly disclosing when a social media post is sponsored, by burying the legally mandated “#ad” or “#sponsored” tags among a cluster of other other hashtags, or forgetting to use them at all. This is something which can damage trust and even lead to legal issues, as Lord & Taylor found out. The fashion brand was charged by the US Federal Trade Commission for deceiving customers by failing to disclose that they had used influencers to promote their products. However, the influencers themselves may also make costly errors. Take reality TV star Scott Disick, for instance, who copied and pasted health brand Bootea’s entire instructions for advertising copy, and posted them on Instagram, instead of just the suggested caption. This looked sloppy and unprofessional, embarrassing both brand and influencer.

It takes significant time and effort

The relative affordability of influencers may be offset by the time and effort that this type of marketing requires. Not only will you need to find an influencer suitable for your brand, but you will also have to draw up terms and conditions for the collaboration, prepare the content involved, and then measure the efficacy of the results, which has proven to be difficult.

Should you adopt influencer marketing methods?

The true value of influencer marketing will ultimately depend on whether your budget can afford you an appropriate influencer in your niche, and how much time you’re willing to spend searching for, and negotiating with, the right one. Considering that marketers spent around 40% of their budgets on influencers in 2019, and just as many cite time constraints as a significant barrier to influencer marketing success, the decision to go down this path isn’t one to take lightly. However, with 4 out of 5 marketers believing that influencer marketing is an effective strategy overall, this approach can clearly pay dividends when done right.

Setting a useful budget in a business world where the pace of change continues to accelerate is an increasing challenge.  Last year’s figures are a starting point, but when the only certainty is uncertainty, trying to forecast trends is always going to be a gamble.  This, however, is not a reason to view the exercise as perfunctory; it’s a reason to devote time and expertise to create a budget which is as detailed as possible.  Although the budget needs to be in place before the start of the financial year, you should be prepared to revisit it regularly in order to scrutinise how it’s measuring up to the reality of the financial year and to make adjustments accordingly.

An effective budget will help you:

• Focus on the big three: sales, costs and working capital.
• Ensure that day to day financial commitments are met.
• Help the strategic allocation of resources.
• Identify a problem before it becomes a crisis.
• Ringfence finance for future projects.
• Attract external finance and grow your business.

Key Headings

• Income streams – both guaranteed and projected.
• Fixed costs – plus a margin for increase.
• Variable costs – assume increase rather than decrease.
• One off purchases – identify essential and inessential purchases.

Keeping Track

Make sure that your business is using the most appropriate fintech to track expenses and handle the paperwork.  A cloud-based accounting system such as Sage will handle all the documentation and processes required in business, such as payroll, taxes, invoicing, payments and expenses.  This system gives your business a real time overview of cash flow which can even be accessed on the go from a mobile app.  This saves time and therefore helps your business improve its productivity.  It also drastically reduces the possibility of error and frees up your employees to do more challenging, satisfying work.  It also provides much increased security and makes it easier to predict cash flow needs.

Managing employee expenses

Employee expenses have, in the past, been a time consuming, unpredictable area of company finance.  The use of a company credit card, passed around staff members, has in many institutions, led to a culture where no-one takes responsibility for the expenses incurred.  By issuing staff with a prepaid company card, a company can provide its staff with the necessary financial autonomy, whilst maintaining a secure grip on expenditure.  Prepaid cards are loaded with a specific budget, enabling a company to differentiate staff allowances, from the most junior to the most senior.  Staff can use the card as they would a conventional credit card, either to make purchases on the company’s behalf to use for travel and subsistence expenses.  Receipts and tickets are simply photographed and up-loaded via the app.  The employer has a real time overview of all staff expenditure and can reduce or increase budgets, impose spending limits under specific headings or freeze an individual card without the need to freeze an entire account.  Prepaid cards are not linked to a company bank account and consequently they are far more secure in online transactions than a conventional credit card.