What Kind Of Support Should Your Business Rely On In 2022?

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StrategyDriven Managing Your Business Article |Business Support|What Kind Of Support Should Your Business Rely On In 2022?It has been a turbulent couple of years for many firms. Support has felt in short supply.

While competition has increased in some sectors, it is also fair to say that a sense of unity can be felt across industries too. With livelihoods on the line, very few firms will not support their peers however they can.

Of course, some companies make it their express purpose to provide unwavering support. Your firm could have a brighter future if it engaged with such entities. But who are they?

Here is the kind of support your business should rely on in 2022.

Group Purchasing Organizations

The pandemic has been tough for most sectors. Consequently, many suppliers have hiked prices, while numerous smaller firms have struggled to secure the funds to purchase what they need.

Increased leveraging power would be of great help in such situations. Fortunately, this is what Group Purchasing Organizations provide. GPO purchasing saves businesses time and resources, allowing them to rally together under a membership base. After that, the GPO negotiates with suppliers on their behalf, using their combined spending for better negotiation terms, conditions, and outcomes.

If you are still asking yourself, ‘what is GPO purchasing?’, Procure Analytics can help answer any lingering inquiries. They explain the perks of these arrangements and how all three parties benefit; the GPO, suppliers, and buyers. Additionally, you will also find details of how trustworthy GPOs can provide robust savings analysis services before your firm joins. Do some further reading if you do require further assurances.

SEO Services

Many firms are slipping into obscurity. Those that do not have a strong presence online, thanks to diligent search engine optimization strategies (SEO).

External experts and consultants can implement these digital marketing tactics in your business. Try to do some further research on SEO’s benefits, as it can optimize your marketing campaigns and generate more credibility and exposure for your firm. All of this will help you stay relevant in industries that are becoming increasingly cutthroat and competitive.

Marketing is firmly a discipline of its own today. It requires constant dedication to monitor key trends, create compelling content, and draw in an audience in a world where attention spans are short and fickle. Only dedicated experts who treat SEO as a full-time pursuit can secure you a steady trajectory of success and ultimately free up time for you to run other aspects of your enterprise.

Cybersecurity Services

Cybersecurity is an essential aspect of a firm’s infrastructure today. Without it, businesses big and small can be raised to the ground in a heartbeat.

However, there were almost 500,000 job vacancies in cybersecurity last year, despite industries worldwide adopting more digital working methods. Skills shortages in the workforce were principally blamed. The challenge of filling these positions will likely not ease this year, given the extent of the problem.

Therefore, it is probably more prudent to engage an expert cybersecurity service. Whether they are directly responsible for implementing measures or operating in a consultancy capacity, their knowledge and wisdom should make your firm safer in the long run. Cybersecurity cannot be mastered overnight with a series of Google searches, so having this extent of knowledge at your disposal is key.

Does the company supplying e-services need to register to VAT in Poland

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StrategyDriven Managing Your Business Article |VAT in Poland|Does the company supplying e-services need to register to VAT in PolandThere is no denying that every entrepreneur wants to reach as many buyers as possible. This is the reason why many of them decide to provide e-services. Thanks to that they sell their goods and services on foreign markets. This raises the question of whether you should register as a VAT payer in Poland.

There is no denying that every entrepreneur wants to reach as many buyers as possible. This is the reason why many of them decide to provide e-services. Thanks to that they sell their goods and services on foreign markets. This raises the question of whether you should register as a VAT payer in Poland.

There is no denying that every entrepreneur wants to reach as many buyers as possible. This is the reason why many of them decide to provide e-services. Thanks to that they sell their goods and services on foreign markets. This raises the question of whether you should register as a VAT payer in Poland. The sale of electronic goods or services to individuals from another EU country involves a number of tax obligations. From 1 July 2021, with the so-called VAT e-commerce package, regulations simplifying these settlements came into force. Read our article and we will certainly brighten up your Vat in Poland.

What is VAT OSS?

VAT OSS (One Stop Shop) is a VAT settlement prcedure that replaced the previous one – VAT MOSS (Mini One Stop Shop). As we have already written in the introduction on 1st July 2021 new regulations came into force. The previous VAT MOSS procedure, which concerned the sale to individuals from another EU country of electronic, broadcasting and telecommunication services (so-called TBE services), has been extended to include the sale of goods by mail order to these entities (so-called WSTO), creating the EU VAT OSS procedure.

The EU VAT OSS procedure can be used by both active VAT taxpayers and non VAT taxpayers. VAT OSS registration does not interfere in any way with VAT-EU registration. It also does not result in losing the right to VAT exemption, due to the fact that sales settled under VAT OSS are not taken into consideration when verifying sales limits for VAT exemption.

VAT OSS – when is it worth using?

Every entrepreneur should remember that registration for VAT OSS is fully voluntary and depends on the decision of the seller. When making mail order sales of goods or providing services to private individuals from another EU country, they must keep an eye on the sales limit.

What is the sales limit?

The limit for sales to private persons from another EU country under the VAT OSS procedure is EUR 10,000. In case of Polish sellers, converted into PLN, the limit amounts to 42 000 PLN. Until the sales limit is exceeded, Polish entrepreneurs tax their transactions as domestic sales – applying the Polish VAT rate. After exceeding the sales limit, they are obliged to tax the transaction at the VAT returns applicable to the buyers country. Until the implementation of new regulations, which took place until 1 July 2021, after exceeding the limit of mail order sales in a given EU country, Polish taxpayers had no choice and were obliged to register for VAT in the country of exceeding the limit. This involved not only the registration obligation, but also the obligation to keep records and reports, i.e. accounting for VAT in another EU country. At that time, it was necessary to use the services of accounting offices that specialized in the knowledge of tax laws of other countries, which entailed additional costs.

To sum up, the VAT OSS procedure simplifies the settlement process, because once the limit of mail order sales in the EU has been exceeded, the seller can still settle the VAT with the Polishtax.com.

What is turnover in business?

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StrategyDriven Managing Your Business Article |Turnover in business|What is turnover in business?What is turnover in business, and how does it affect the health of your company? Understanding how well your business is performing isn’t an exact science, but one of the indicators you may use to get a clear grasp is business turnover.

When running a business there are dozens of pieces of jargon to sort through, Indicators to analyze, and choices to make. They all assist you to realize how your firm is doing in precise terms. It’s probably one of the most significant and simple metrics to think about.

This article discusses turnover in simplified terms and walks you through the process of calculating it.

What is the meaning of business turnover?

It is a simple business metric that can be used to determine if a company is profitable or not. It’s frequently used as a quick and easy way to estimate a company’s size. HMRC, for example, considers turnover when deciding whether or not a company should register for VAT.

It refers to the total amount of money you made from selling your product or service in a certain period. It doesn’t take into account any expenditures or any other unexpected charges. It doesn’t even account for the profit you made during that period.

What is the significance of business turnover?

You can compare your existing turnover to other times of the year. This will help you indicate if your company’s revenue is increasing and if it is on track to meet your goals.

It’s also a useful figure for comparing to other metrics. If your gross profit is low in comparison to your turnover, it may be time to look into strategies to reduce your sales costs. If, on the other hand, your net profit is low in comparison to your turnover, you should consider increasing the financial efficiency of your company.

What’s the difference between profit and turnover?

Although both turnover and profit represent a company’s revenue, they are calculated using distinct parameters. Turnover, also known as net sales, is a company’s pure income from sales, whereas profit is the remaining total turnover after all variable and fixed expenses are deducted.

On their income statement, most businesses include both turnover and profit. Turnover is usually the first line item because it is the biggest figure and only accounts for revenue without any expenses. Profit is generally always the bottom line on the income statement, and it represents the entire income produced by the company after all operational expenses are deducted.

What is the method of calculating turnover?

Calculating turnover is as simple as combining all of your total sales for a particular time as long as your finance team keeps exact and accurate records. The gross profit (after subtracting the cost of products sold) and net profit (after deducting the cost of goods sold) can then be calculated using your turnover as a starting point (by then deducting all operating expenses).

Of course, turnover is not a metric of success. Every firm will make sales, but the size of the business, rather than the turnover, determines its success. However, when compared to other indicators, it can be used to determine success, and it is useful to know how well a company is growing

Tips for increasing your company’s turnover

You must make certain that your company’s turnover rises over time. Here are a few suggestions to assist you to increase the turnover of your company.

Aim for profitable growth.

Aim to sell as much as possible, whether you’re a product or service-based business. Increased sales will eventually result in increased profit, so be aggressive in your sales efforts. Use all accessible platforms to sell your goods as efficiently as possible.

Make special deals and promotions.

Offers and discounts are an excellent method to attract customers. You can always provide a supplementary service or decrease the price of the goods or service as an offer. This will assist you to attract more people to your goods or service, which will result in more sales.

Incentives are effective.

Your sales partners are your most valuable ally when it comes to growing sales. Make certain to motivate and incentivize them to perform better. Their improved performance will result in increased turnover for your company.

Final thoughts

So, this is about turnover and how it should be calculated. We hope you’ve understood the distinction between turnover and net profit. Turnover is an important aspect of every firm. It not only helps you assess your company’s success, but it also helps you plan for the future. Before the end of your first year of business, make sure you understand the various ways to increase your turnover and how to calculate them.

How To Maintain Productivity Without Compromising Your Cybersecurity

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StrategyDriven Managing Your Business Article |Cybersecurity|How To Maintain Productivity Without Compromising Your CybersecurityWhether you are a small local business running a simple website, an ecommerce project with a steadily increasing turnover, or a growing international brand – any business can find itself the target of cyber criminals. It is naturally the case, then, that businesses need to invest properly in their cybersecurity, and put it at the forefront of their strategic decisions.

However, there is a potentially conflicting interest with cybersecurity – and that is productivity. It is often believed by business owners that they can’t improve one without compromising the other. For example, putting in place multi-factor authentication on log-ins certainly makes a company more secure, but it is also likely to be less time efficient and create scenarios where genuine log-in attempts fail and have to be resolved.

For those companies that have chosen to invest in their cybersecurity, it is important to establish ways that productivity can be maintained, and even improved, without making this investment a wasted effort and financial decision.

Here, we take a look at how your business can achieve higher levels of productivity without compromising your cybersecurity.

Invest in the right security technologies

The first thing to note is that the type of cybersecurity technologies you invest in can play a big role in how it affects your business productivity. For example, some cybersecurity strategies place a focus on reacting to attacks – and while this is an important facet of security, it can also affect productivity tremendously.

It can be a much better idea to invest in technologies such as managed detection and response. This is software that operates in the background as data is ‘collected from across your networks, endpoints, and cloud environments, analyzed using the latest machine learning and behavioral detection engines, then enriched with the latest threat intelligence’.

From this data the software understands what is normal, and can therefore recognise and react to abnormal behavior. This can then be investigated. This is far more effective than waiting for an attack to happen and then having to uproot the businesses in order to find and deal with the problem.

Find compromises

There can be a real temptation to maintain productivity and even improve on it by taking a lax approach to cybersecurity policies. This concept here is that reducing the strenuousness of cybersecurity provides employees with more space to breathe. There can be logic here, but it is important to ensure that you are relaxing measures in the right areas.

It is important to consult with your business’ cybersecurity specialists as well as those who manage data and data security across the organization. Working with these members of staff can allow you to establish where your company is potentially vulnerable and find ways to ensure that any changes you make do not negatively affect you from this perspective.

Be aware of insider threats

Many businesses assume that insider threats necessarily come from malicious actors – for example, disgruntled former employees. However, this is not always the case. In fact the vast majority of cybercrime that involves an ‘insider’ element actually relates to mistakes that have been made by employees.

The key thing to note here is that if employees do not understand why they need to follow a particular cybersecurity policy, or if they feel that it stops them from doing their job effectively, they may simply disregard it. It is essential, then, that businesses ensure that cybersecurity policies are adhered to and training is provided to help employees understand why they have to take it seriously.

Employees often want to find the most time effective ways to carry out a task in order to strive for higher productivity levels. But this comes at too high a cost if the company as a whole is put at risk of a data breach.

There does not need to be an inherent contradiction between productivity and cybersecurity. In fact, as both are becoming vital to businesses, leaders of organizations need to find a way to ensure that both are prioritized. The most important step is to ensure that staff understand the importance of cybersecurity and the procedures that have to be put in place. This allows them to establish ways to be more productive in spite of cybersecurity measures.

How to Optimize Your Product for Your Customers

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StrategyDriven Managing Your Business Article |Optimize your product|How to Optimize Your Product for Your CustomersIt’s no secret that in order to be successful, businesses need to focus on their customers. After all, it’s the customer who decides whether a business is successful or not. In order to give your customers what they want and make them happy, you need to optimize your product for them. This article will discuss how to do just that!

#1 Know who your customers are and what they want

Knowing who your customers are is a vital step in optimizing the product for them. You need to understand where they come from, how old they are and what kind of needs they have in order to serve them better with your products and services.

Then you can take it one step further by creating personas based on these insights so that every time you design something new or develop an idea into reality, you’re doing it with specific people’s needs/wants in mind instead of just guessing about the general public’s preferences which might not be accurate enough!

#2 Create a customer journey map based on their wants and needs

The next step is to understand where your customers are in their life cycle regarding the product/service you offer; what does this mean? Well, once you’ve determined who exactly your target audience is, it will be easier for you to see how they use or would like to use your products/services relative to where they exist right now. For example, if someone just started using Facebook, he might want some basic tutorials before jumping into more advanced features.

This process enables you as a marketer not only to identify improvement opportunities but also to help your clients make informed decisions when designing new features! By creating a customer journey map based on the personas, you can get an understanding of all the different channels and touchpoints that a customer interacts with before, during and after their purchase.

Once you have this data, it will be much easier to see what works well and where customers might be getting lost or frustrated (the goal is to make the experience as effortless for them as possible), so you can optimize your product/service accordingly!

#3 Analyze how your product/service should be optimized to fit the customer’s needs

Analyzing all this data will give you an idea of what changes need to happen in order for your company’s products and services to meet their customers’ expectations. For instance, if there are certain features that aren’t being used as much but could benefit from having more functionality, then adding them now would make things easier on everyone involved with creating these changes and improve user satisfaction levels! It’s also vital to ensure that the equipment you use, whether it be a wet blast machine or any other manufacturing component, is of the highest quality to ensure a perfect end result.

The next step is implementing those improvements once everything has been decided upon by analyzing which channels work best or worst depending on where people tend to get lost during their journey through different touchpoints (e.g., social media vs website).

Optimizing your product for your customers is an important step in ensuring the success of any business. By taking these steps, you will be able to create a more efficient process that meets their needs while also reducing costs associated with poor user experience design!