Finance – JOHNDAPPERCLOSER

Running an enterprise would mean orchestrating several aspects of the business – Sales and Marketing (our fave!), Finance and Technology, Operations, and People and Leadership. These elements deserve a respective discussion in our new blog series – Build Your Business Empire (BYBE). For our series premier post, let us focus on Finance and Technology.

During the first run of the BDO Fiesta in the Davao Region, we were privileged to be one of the partner content creators. Essentially, it is a group-wide initiative of BDO Unibank and BDO Network Bank showcasing the bank’s unique brand of service weaved into exciting promos, special activities and meaningful engagements. Just like “Fiesta” as we Filipinos know it, it is a fair-themed community celebration stretching for almost 2 months around a particular region.

Here is one of the mini-Fiestas that we attended: https://www.facebook.com/share/r/19eCJfZ16H/

Among the stalls we have hopped around that made us appreciate BDO’s advocacy to the Small and Medium Enterprise owners are the ones which offered the Negosyante Loan by the BDO Network Bank, and the Cash Management Services (CMS) by the BDO Unibank. If you are an entrepreneur with a 2 years young business, the tandem bank offerings are the perfect business solutions you can avail to scale up your baby enterprise. Negosyante Loan for additional business funds and the CMS to automate the movement of the finances.

Finance: Negosyante Loan by the BDO Network Bank

It is a non-collateral loan offered to owners of Small and Medium Enterprises which have been running over 2 years. The only requirements are the latest 3 months Proof of Sales of at least Php 10,000 a month, an updated business permit and 1 valid ID. If you qualify, you may get up to PhP 2 Million additional funding to turn that little business into an empire!

You may ask for an assessment or apply for Negosyante Loan here: https://www.bdo.com.ph/personal/remittance/kabayan-loans/negosyante-loan

Technology: Cash Management Services (CMS) by the BDO Unibank

The CMS is one of the features to organize the flow of your business funds through the BDO Business Online. It offers end-to-end solutions for collections, disbursements and liquidity management to help businesses operate efficiently.

For enterprises which are still starting, you may apply for it with a minimal package cost while the established corporations may just maintain a particular required value for a complimentary use. It enables the efficient processing of transactions and access to timely information anytime, anywhere.

Plus a Payroll Package!

The Payroll Package provided by the CMS is a complete payroll solution designed for both the employer and the employee. It gives employees access to BDO financial services and free life insurance coverage. The package serves also as a tool for financial inclusion, granting previously unbanked SME employees their first access to formal banking channels.

Whatever industry your business belongs, you may customize the features of your package. You may request for an assessment or apply for a CMS here: https://www.bdo.com.ph/business/business-solutions/cash-management

Here is a success story of a thriving burger joint in the Philippines: https://youtu.be/_ytuI0TeJ3s?si=xAYIdwN4OfcNGPtB

While you may not wholeheartedly agree yet, you can exactly end that phase of managing your business where juggling all its aspects is seemingly a one-man incorporation. You may not necessarily hire more manpower yet. But, strategically, you can get funding without joining Shark Tank and automate the money flow without involuntarily hiring an accountant.

Scale up! Explore ways with BDO now.

Mark Zuckerberg’s innovation erupted the social media bandwagon. In fact, Facebook has been such the friendliest tutor for then-offline people to be Internet literate. Its active members are living proofs that exchange of messages and media (Video, Photos, Soundtrack) could actually be FREE, making Telecommunication Companies fear their services (Call, SMS, MMS) to be obsolete in years from now.

However, what if the next time you surf, the Internet could convert and organize (transfer/ purchase, withdraw, deposit) currencies efficiently and charge-less because of a digital asset you start owning today?

Sounds like a scam? Read back the first paragraph. More over, PayPal, when introduced was deemed fraudulent too. Now, online job incentives and purchases are processed through it. One more thing, Online banking is promoted now by your banks. Only, both place whopping charges and a bit procrastinating.

Stop reading this further when you are satisfied with your dormant money in banks or strategist-managed stock market ventures. Do not even read a word more when you do not have faith (until now) to the unknown possibilities the Technology is yet to divulge. This is about the financial world cohabiting with online media in the Internet. Their synergy!

Cryptocurrency. A currency in the Internet form. These are unique codes (algorithm) which when solved (mine) posses an intrinsic value (solution/coin). A medium of exchange which nominal value is determined by the number and rate of acquirers through the process of mining a predetermined, publicly known number of coins in a created system. To the average thinking adult: These are codes with values. Values are influenced by the community who agreed to consider it as a means of exchanging resources.

So why would you swap a tolerable slice of your money now to Cryptocurrency?

CRYPTOCURRENCY HAS COME TO ITS ERA

The success of Bitcoin startled the era of transactions using online currency. Since then, it served as the basis for innovations. Coins before were hard to earn due to costly equipments and the need of skillful IT professionals. Before, cryptocurrency were just for the wealthy who can fund the hardware pieces and the experts who know the science of the process.

12999636_10209335380849422_337658244_o — The history of Money.

EVOLUTION OF PAYMENTS

Years ago, we were reluctant in buying what we desire through the screen and keyboard. Now, I’m sure you know about Lazada, Ebay, and Alibaba. Reflect how you did not notice how commerce had evolved from Barter System to Paper Money to Codes with values. As learned consumers, we would then find a payment mode which would help us save by eradicating transaction charges. As learned currency organizers, we would then find a medium of transfer that does not let us fall in line like ants inside the bank or wait 3 to 5 days to receive the much needed remittances. Digital Money solves those.

SAVINGS DIVERSIFICATION

There is no such investment instrument precisely predetermined as safe. It is always about the battle of risks and returns. As that classic investment tip teaches, sparing a fraction of your savings to be converted as a digital money is just in a way allocating some of your income to a promising investment instrument. A bit of everything.

BE A MILLIONAIRE

The financial science of digital money is, when you earn the coin earlier than everyone else, it is still cheaper. As the coin hopefuls increase, the chances of earning the coin lessens. This ignites scarcity based to the available pieces of coins programmed to be mined. When majority is still studying about this breakthrough, you are already teaching them about it while earning. Thus, start learning about it now.

LEGACY

Just like any will-able asset, owning digital money today makes your clan thank you someday. Cryptocurrencies are recorded through Blockchain with unique algorithm (codes). As this technology continues to flourish to the generation of your offspring’s offspring, there is indeed a lot digital money can promise in the future.

What is elusive about the benefits of technology is, you will never know it succeeded until one day you are already behind the comforts it resulted. Then you chase. Do not be left behind. Own at least a bit of cryptocurrency now.

Tag: Finance

Build Your Business Empire: Add and Manage Business Funds with BDO