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The Top 5 Growing Industries In Spartanburg

StrategyDriven Editorial Perspective | The Top 5 Growing Industries In SpartanburgIf you are an investor or business owner looking to carve out some space in the Spartanburg SC  area, then knowing who the major players are in the area is important. This is especially true when looking to buy a business through a business broker Spartanburg service in order to know who your competition may be.

Aerospace

The aerospace industry has seen a lot of growth in the last few decades. In 2020, this industry boasted 5,148 jobs, which is 336% above the national average for this industry. The reason why this industry has grown so much is due to The Boeing Company creating assembly facilities and their consolidation of the 787 production to the South Carolina area.

Charleston, for example, is one of the three places in the world that assembles and delivers wide-body jets. This makes this location a prime area for highly skilled workers such as electrical engineers, mechanical engineers, as well as other specialized skills.

There is also a very large aeronautical training center in this area. This training facility is designed as a partnership between government and private companies to train pilots and other operators on specialized equipment. This facility is over 218,000 square feet and includes two hangars, a ramp, 22 classrooms, 25 specialty labs, and 37 staff offices.

Automotive

The automotive industry boasts 4,151 jobs in this area, which is 141% above the national average.  The main reason for this is the Mercedes-Benz Vans automotive plant that was opened in 199 and then doubled in size in 2018. This plant alone employees over 1,300 people.

This plant fabricates and delivers Mercedes sprinter vans which are coveted by sports enthusiasts and road trippers throughout the county. Due to the high demand for these vans, which are often bought by fleets of delivery companies, this plant has become a staple to this area when it comes to a healthy job force and decent wages in the community.

Technology

It’s often said that South Carolina is primed to become another “Silicon Valley” of sorts. The main reason is that this area has been selected as a desirable location for technology-based workers. The proof of this is that there are more than 400 technology-based companies in the area across a myriad of different industries. Some of the most notable homegrown tech companies that have come out of this area include companies like Phish Labs, Blackbaud, and Benefitfocous. This area also works with Google for satellite operations, Infosys, and other large technology firms.

This area is also home to many technology startups as it is very entrepreneurial friendly and boasts a decent cost of living that cannot be found on the west coast. Another reason why this sector is so desirable is because of some of the other large industries in the area, there are a lot of people with highly skilled specialties that can help to spur new business growth.

Logistics

One business broker in Spartanburg deems the logistics industry to be one of the fastest-growing industries in the area. The reason for this is due to many deepwater ports, international airports, and easy ground transportation which makes transportation needs easier to carry out.

Along with 41,000 miles of state-maintained highways and 2,000 miles of rail line, shipping products and services has made this area into a natural logistics hub. The South Carolina Ports Authority offers weekly service to more than 140 international destinations and can handle vessels that can draft up to 48 feet. This port has one of the highest efficiency ratings in the world as they specialize in getting cargo in and out as fast as possible.

South Carolina’s international airport is a joint civil-military airport that further helps private and government entities ship and receive cargo. The United States Foreign-Trade Zones are special areas that reduce the cost of import duties. There also just so happens to be one of these types of ports in this area.

Defense

This area is estimated to bring in over $2.6 billion annually in contracts from the Naval Information Warface Center. Because of this, there are over 80 defense contractors in the area that deliver talent and success in order to achieve and secure these contracts. These defense contractor companies cover everything from cybersecurity, space systems, and communication. This has made this area one of the fastest-growing mid-size metro areas for computer and hardware engineers. Large companies such as Science Applications International Corporation, Scientific Research Corporation, BAE Systems, and I.T.T. Kliburn all are large players in this industry space.

As you can see, the Spartanburg area is a thriving area with a lot of different industries. As an investor who is looking to buy or sell a business, it’s important to take note of who the major players are in an industry to make sure that the business you are interested in buying or selling has the foundation in order to compete. For businesses that are looking to grow, this information can also be extremely helpful when it comes to knowing if the types of people you need to hire exist naturally in the area or if they will need to be relocated nearby.

If you are selling a business, having the information of your competitors is also very important to help potential buyers know how the business fits into the geographical landscape and what industry resources are available to tap into. By having this information, you will be better equipped to sell or buy a business in this area.

2020 Analysis: Which Financial Services Sector Saw the Greatest Upsurge in Demand Due to COVID-19

StrategyDriven Editorial Perspective Article | 2020 Analysis: Which Financial Services Sector Saw the Greatest Upsurge in Demand Due to COVID-19COVID-19 took the world by storm, inflicting people across the globe with many health concerns. Its impact was also felt in various industries and businesses, including an upsurge in financial sector demand. A study by Awaken Intelligence investigated how the financial sectors in the US and UK have been coming during the crisis.

The research can be found at www.awaken.io/blog/boom-or-bust and was derived from collecting Trustpilot data. They used this data to determine the demand for various financial sector services in the initial months of 2020 when the pandemic hit and the same months in 2019.

Financial Service Sector Growth in the UK and USA

The two nations have experienced an increase in demand for financial services. However, there is a significant difference between them. While the Uk saw a 175% increase, the US only saw a 47%. Despite this, both rises were sudden and unprecedented, forcing financial service providers to update their business models quickly.

In-person meetings were out of the question, and these services typically rely on them. Switching to new procedures was imperative if they were to deliver high-quality assistance to customers regardless of the pandemic. Customers flooded support centres with calls and messages, and many found it difficult to adjust to the demand.

As a result of the nature of the COVID-19 enforced changes, even the most traditional businesses had to embrace modern technology and recognise its value. With the increased availability of self-service websites and application, pressure on customer service agents was lightened. Through the use of technology tools such as voice analytics, it has minimised the average call handling time while enabling satisfactory customer service provision.

Banking & Money

Banks and other loan businesses in the UK readily offered clients a break period and holiday payments on credit cards, loans and mortgages. Banks also reduced rates on new loans in an attempt to attract customers and generate revenue. With certain branches being closed, banks would provide great emphasis on their online and mobile platforms to be used during the pandemic. Banks wanted customers to remain safe in the knowledge that they could still access a variety of services on their online platforms and still receive additional help regarding any queries that they may have.

The UK people took advantage of these offers, and the sector saw a 204% rise. Though the US experienced a 148% rise in demand, this reflects a need to borrow additional benefits did not facilitate that.

Real Estate

In March, the UK placed the conveyancing process on hold. This prevented completion form taking place and home viewings were against COVID guidelines. Surprisingly, the nation still has an 87% rise in demand for real estate services.

Due to the initial pause in the sector, there was a backlog of eager buyers and sellers. When the government reopened markets in June, demands poured on. Another factor that facilitated the rise was eradicating stamp duty by the Uk government, which is to remain until spring 2021.

The US witnessed a nominal 3% growth. Different states had their regulations guiding competitions and home viewings. Still, the main factor was that new listings became rare because property owners were unwilling to sell in a period of economic upheaval.

Insurance

One of the things people cherish about the UK is the National Health Service. Unfortunately, its services were quickly stretched because of the influx of COVID-related health issues. Scheduled appointments and procedures had to be pushed back to since healthcare providers needed to prioritise coronavirus patients.

Numerous individuals were compelled to seek private healthcare to reduce the NHS’s pressure while ensuring they received the best care. This shift resulted in a 311% increase in insurance demand in the UK. In the US, a rise took place, but it was only 26%.

The hike in demand in the US was relatively low because many Americans already have health insurance and did not need to purchase any because of the pandemic. Those who do not have insurance likely lack access on account of affordability. The pandemic did not suddenly make insurance coverage affordable.

Health insurance was not the only form that witnessed growing demand; travel insurance grew in popularity. Usually, only a minority of travellers claim their insurance, but the numerous cancellation resulted in a flood of claims.

Credit & Debit Services in the UK saw a 52% rise, but they dropped by 16% in the USA. Investment and Wealth experienced a 30% rise in the US and 119% in the UK. The financial sector is currently bracing itself for another impact as a second wave hits the two states. The uncertainty of these times holds the danger of rising unemployment rates and financial struggles.

Crypto Trading Bots – Next Step to an Epic Future

By traveling at an untraceable speed, the face of technology has witnessed several transformations over time. As everything around us has flipped over into the screens, there is no more turning back into the age of physicality. Gone is the era of tangibility and undeniably that phase did have a fair share of advantages, many of which cannot be easily replaced by technology. But the future lies in those screens, and in this decade as even the concept of money has taken the digital form, equipping yourself with the right devices and technology is imperative. As cryptocurrency started becoming prevalent, various innovations took birth to tweak the digital currency into the most efficient form.

Automated Trading

The roots of crypto trading robots extend to the concept of automated trading. The US has adopted this method of trading and has successfully gained profits out of it. This technology has already proven to be beneficial and is now a widely accepted one. Many of its potentials are still being discovered. Automated trading helps users to create a book of accounts where details regarding the trade are recorded, which can be later employed by a computer to run the system for specific functions of trading. It stands as a good option for those users who lack time to analyze the working of their accounts and market trends.

StrategyDriven Editorial Perspective Article | Crypto Trading Bots - Next Step to an Epic Future

Cryptocurrency Trading Bots

One of the major driving forces behind the invention of trading bots was the volatile nature of cryptocurrencies. The function of such bots is wholly based on the nature of digital money, which is unpredictable to a large extent. Controlling the accounts all through the day would be an impossible task; the trading bots came as an antidote to this issue. Since humans cannot control the volatility of cryptocurrency, untimely dips and surges are equally probable. When users are in a state where they are unable to control their trade, the bots are assigned to do the job. Apart from the task of running errands for the users, the bots also make the trades more efficient and profitable. The system that operates the bots can receive relevant data and make the best results out of it, by improving on the skills of human traders. The benefits of using bots have attracted more users to the idea of equipping themselves with this technology to enhance their trade. As the demand for trading bots hiked, so did its production. With several bots in the market now, users might fall into a dilemma over selecting the best one. Many of them offer free service whereas some have to be bought at prices fixed by the developers. You can now relax, as Immediate Edge Bot is here to help you manage your crypto trading account and take more than half the burden off your shoulders.

Working of trading bots

You gaze on the screens as you read this; this activity demands your presence. In the case of trading, that place of yours is being replaced by the robots. These bots function efficiently in making decisions for the trader while they are not available or also when a complex issue arises. The bots will work based on the programmed criteria to generate an appropriate reaction to the problem encountered (price drops). The two significant drawbacks of the traditional crypto bots are the high cost and low accessibility, which can be reduced to a considerable extent by providing direct access through cryptocurrency exchanges.

StrategyDriven Editorial Perspective Article | Crypto Trading Bots - Next Step to an Epic Future

Things to consider before choosing a particular trading bot

  • The reliability of the company should be of prime concern. Since the purchase is made online, the issue with the genuineness of the product could arise, so pay extra attention to this factor.
  • Companies with murky content clouding their reputation are best removed off your list. It would help if you always looked for the transparency in the details on the company’s website.
  • Since technology has developed towards an age where online frauds and hacks are prevalent, the security factor of the bot that you are planning to buy should also be checked properly.

Conclusion

As the world is moving into the era of AI, everything around us is bound to change and take the intangible form. Various iterations to cryptocurrency trading platforms have frequently been entering the market for a few years now, and the bot technology has been the most widely accepted one among these. With numerous companies offering bot trading services, it would be quite strenuous to pick the best one out of it. Before clicking on that option of yours, make sure it provides the best service and that the bot trading platform is reliable.

 

7 Interesting Reasons to Invest In Platinum Today

StrategyDriven Editorial Perspective Article | 7 Interesting Reasons to Invest In Platinum Today

As soon as you start earning a steady income, people ask you to invest. Whether it’s in vintage cars, stocks, a business or even a house, investment is a huge part of a stable financial plan. Putting aside your money each year or month not only helps you save up for emergencies faster but also gives you a lot of profit on your earnings.

The investment market dealing with precious metals has barely made the cut in terms of popularity among people, and it’s not something many people tap into, if they do hear about it, it’s mostly for either gold, silver or palladium.

There’s a reason that highest-paid memberships in any category offer a ‘platinum card’ or make you their ‘platinum member’. The term ‘high value’ is greatly synonymous with platinum, and that automatically translates to better quality and reliable investment. Because of platinum’s unique characteristics and the growing demand in the global market due to its versatility, it makes sense that this should be a solid investment. But if you need some more convincing, here are seven reasons why you should consider investing in platinum today;

Solid Properties

Platinum is a soft white metal with a very beautiful sheen. Not only is it ductile but malleable too, which means that it can be industrially processed to make wires or sheets to be used in many things. The metal is pretty resistant to corrosion or rust where even the best give up. The biggest use of platinum is as a catalyst or controller in motor vehicles, jewelry or most importantly, in dental work where it can be yielded to make cast partial dentures etc.

Growth in Industrial Demand

One of the rarest precious metals in the category today is platinum. Its production is around 10% of that of gold (merely 7 million ounces a year), and during the world war, the US government banned any ownership of platinum and termed it as a strategic element. While the supply is only 7 million ounces a year, the demand has grown from 2.6 million in the 1970s to 7 million today and is expected to go even higher in the coming years. As diesel vehicles take up quite some space in the global market, platinum’s demand is only going up to be used in catalytic converters.

Around more than 20% of consumer goods use platinum, while more uses are still being discovered. Majority of the industries like medical, glassworks and dies, dental applications, chemical processing and petroleum refining now use platinum as a catalytic controller or a major component. It is also readily used in transport applications to lessen global warming and exhaust waste to a much greater degree.

The beautiful sheen, ease in malleability and gorgeous luster also makes it a star of the jewelry industry.

Growth in Platinum Investment

Investment funds have bought platinum in significant amounts, and the numbers are only expected to increase. Private businesses with pension funds have increased their commodities investment, especially through Exchange-traded funding. One such example is that of a large Swiss-based pharmaceutical company that invested around $11.3 billion in platinum and other metals as well. The establishment of EFT is slowly growing, and with its increase, the mining companies dealing with the extraction of platinum say that there will soon be a considerable increase in platinum demand soon in the global market.

Limited Supply Sources

Most Platinum reserves and mines are concentrated around the areas of South Africa and Russia. More than half of the world’s platinum comes only from these countries. With such a limited and short supply and only finite resources for platinum, there is a huge amount of uncertainty that lies regarding its supply in the future which makes it even more precious to own now. Holding greater importance in the industrial and the military sector, the difficulty in mining and the lack of a number of resources makes platinum the most precious of the precious metals. In case of any disruptions in Russia or South America, the global market would be affected severely, and the prices will break records. This makes platinum a very smart and stable investment.

Price Performance in Recent Years

Platinum has proven to be one of the most top-performing assets over a period of a few years. In 1971 platinum was sold for $90 an ounce and by 1980 it was $1000 an ounce. The increase in platinum prices has been much more significant than the increase in prices of other precious metals. Platinum has almost sold premium to gold for much more than 25 years, and though there have been divergences in the over-all selling point, it is important to note that these falls were mere anomalies, but in the market, these anomalies do not change the fact that such investments are long term opportunities of the greatest kind.

Liquidity

Liquidity, in business, refers to the ability of an asset like stocks and bonds to be turned into cash with ease. The higher the liquidity, the easier it is for a certain asset to be turned into cash. In the global market, while gold has been termed more liquid than platinum, Platinum has had the advantage of playing it’s cards right and turning its less liquidity into its own favor which means that in an environment with rising platinum prices, it will take fewer buys to raise the prices further.

Current Volatility

While platinum’s less liquidity may play to its advantage, the opposite might be harmful too thus making it more volatile, but as history has been great at reminding us why platinum has done wonderfully in the past three decades, the current low price of platinum can be a huge plus point for the investors. They can very easily seize this opportunity before the market realizes that platinum’s decline as compared to gold in nonsensical on a number of levels.

Conclusion

In conclusion, it is safe to say that while the supply of platinum remains affixed with respect to rising industrial and investment demand, platinum is one of the safest investments out there.

Revealed: Who is meeting the official development assistance targets?

Foreign aid is one of those topics that always divides opinion but like it or not, most of the world has signed up to official development assistance targets.

What does this mean? It means that countries should be aiming to provide at least 0.70% of their GNI towards foreign aid.

Well, perhaps unsurprisingly, a new infographic from Wristband has shown that this isn’t necessarily the case. Instead, there are just five countries who have met such targets, with Nordic countries often taking the mantle. Sweden ranks at the top of the charge at 1.02%, while Norway is at 0.99% and Denmark is at 0.74%. Luxembourg and the United Kingdom were the two other nations above the recommended threshold at 1% and 0.70% respectively.

Of course, the main headline that will derive from this will be the countries that aren’t meeting these recommended targets. While the United States is by far and away the biggest donator, pledging over $34 billion, this only equates to 0.18% of their Gross National income. In fairness to Germany, who are the second biggest donator, they fall only slightly under the recommended target at 0.67%.

For those of you who want to delve into the data in more granular form, we will leave you with the infographic below. It reveals the countries which benefit the most, as well as just how much your own nation is giving to respective countries. It makes for interesting reading, and certainly provides a fresh insight into a topic that is somewhat polemic, should we say.

StrategyDriven Editorial Perspective Article | Revealed: Who is meeting the official development assistance targets? | Foreign Aid