i.e. letterheads, visiting cards etc. · Prepare firm's name stamp (a common rubber stamp will do). · Open a bank account in the name of sole proprietor business. The bank manager will require a request letter on business letterhead with sole proprietor’s signature and stamp. · Get bank statement of the newly opened bank account. · Apply for National Tax Number (NTN) certificate. Bank account statement and a copy of sole proprietor’s computerized national identity card will be required along with
Words: 2412 - Pages: 10
The entry of foreign banks into emerging markets: an application of the eclectic theory Janek Uiboupin and Mart Sõrg University of Tartu Abstract In the current paper we discuss the applicability of the eclectic theory in explaining the entry of foreign banks into the Central and Eastern European (CEE) markets. We modify the Dunning’s eclectic model by adding the special case of financial liberalization and timing of foreign entry for emerging markets. In the empirical analysis we use a survey based
Words: 5511 - Pages: 23
outcome is that the customers will not be able to meet the expenses of their demand which will steer them to find a cheaper and affordable alternative within their budget plan. Increasing the product prices is that it maximise profit however the disadvantage is that it reduce the demand for product and decrease the customer rate which means that the Tesco and Toyota might end up losing their capital income. Absorb cost: the second option that they could
Words: 798 - Pages: 4
personal savings of the proprietor or close family and friends. The financing also can come from any banks or people willing to loan money. The people financing a sole proprietorship do not hold legal risk when providing financing. What impact does this choice of formation have on the taxes for the owner(s)? All profits the business receives are taxed as the owner’s personal income. This is an advantage to sole proprietorships because you don’t have to pay extra taxes for your business. The proprietor
Words: 1177 - Pages: 5
the company which is required to carry on operating activities. 2. Determining the sources of funds available:-To finance the above requirement what sources are available with the company has to be determined. Various sources are available like bank loans, raising money through shares, securities, or debt and equity. 3. Choosing the best source of finance:-There are various sources available to the company but according the paying capacity and nature of the company we have to choose the available
Words: 1501 - Pages: 7
but they may pick and choose part of the governing principals that apply to them. There are advantages and disadvantages to adopting The Sarbanes-Oxley Act for private and non-profit companies. The advantages are that private companies that intend to go public in the future have already established an auditing committee, a whistleblower protection policy, and improved internal controls. The disadvantages are it is costly to adopt Sarbanes-Oxley Acts and requires hiring an outside independent auditor
Words: 1244 - Pages: 5
corporations have the right to enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets and pay taxes. (Investopedia, 1) Deciding to elect to become a corporation has advantages and disadvantages. A few advantages and disadvantages are listed below: ADVANTAGES: * Capacity to act as a legal entity * Due to many individuals investing funds, a corporation has a bigger source of capital which allows for larger business undertakings * Unlimited life which
Words: 1583 - Pages: 7
service”. Wikipedia also stated: “Electronic business may be defined as the application of information and communication technologies (ICT) in support of all the activities of a particular business” This type of business has many disadvantages that deprive people of its advantages especially those in the rural areas” E-commerce and E-business are very important ICT tools that can help businesses and organizations
Words: 2345 - Pages: 10
village than a big wide area we have seen banks especially retail banks adapt more and more strategies to either attract customers or retain customers. Banks have reinvented their marketing strategies to not only spur their rapid growth but also to ensure that they remain profitable in a business sector that has the greatest level of competition. This paper, therefore, seeks to evaluate and analyze the current marketing strategies of the 1st century bank as well as try to offer recommendations of
Words: 3452 - Pages: 14
throughout the business starting with the purchasing of stock. If you are providing a product you will most likely need raw materials, if not then you will need general stock. Having more expensive, higher quality stock will push you to a competitive advantage. (Chron, 2013, Electronic Source.) Finance allows you to buy in order to sell and hopefully make a profit on those goods. If you are providing a service then finance will allow you to buy tools or equipment to improve your service. Start- up businesses
Words: 2159 - Pages: 9
