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The technique of recording and keeping track of your business’s financial transactions is known as bookkeeping. Your bookkeepers are required to compile financial resorts based on your company’s activity on a regular basis. These reports indicate your company’s financial situation as well as its performance.

In addition to managing financial records, bookkeeping services include:

1. Tax return preparation

2. Invoicing

3. Keeping track of performance indicators

4. Tidying up financial records

5. Keeping track of accounts owned and receivable

6. Management reporting

 A bookkeeper’s job is to deliver accurate, up-to-date financial data to accountants so they can compile annual financial reports and tax filings for your company.

 Services that bookkeeper can provide:

1. Data entry

2. Bank reconciliation

3. Accounts receivable, accounts payable and payroll

 Hiring the best bookkeeping services

 You have 3 options: employ a freelancer, hire a bookkeeping firm or adopt a remote bookkeeping solution. Each of them has its own set of advantages and disadvantages which will help you decide which is the best option for you.

 Tips on how to hire the best bookkeeping services:

1. Consider experience

2. Ensuring proper education and training

3. Determine technical abilities

4. Consider paying attention to the details

5. Extensive cash flow and credit management experience

6. Planning and preparation of tax

Reasons behind the fast economic growth of Saudi Arabia:

The rapid economic growth of Saudi Arabia in 2022, especially being the fastest-growing among G20 economies, can be attributed to several key factors:

- Increased Oil Production and Prices: Saudi Arabia, being one of the world's largest oil producers, benefited significantly from rising global oil prices and increased production levels. The rebound in global demand for oil post-pandemic, combined with geopolitical tensions that disrupted other oil supplies, contributed to higher revenues.

- Economic Reforms Under Vision 2030: The Saudi government’s Vision 2030 initiative aims to diversify the economy away from oil dependency. Reforms under this vision have encouraged growth in non-oil sectors such as tourism, entertainment, real estate, and finance, driving economic expansion.

- Investment in Infrastructure: Major infrastructure projects, including NEOM, the Red Sea Project, and the expansion of Riyadh, have attracted significant investments. These projects are not only boosting construction and related industries but are also creating jobs and stimulating the overall economy.

- Foreign Direct Investment (FDI): Saudi Arabia has seen an increase in FDI due to improved business regulations, economic reforms, and strategic partnerships with global companies. The Kingdom's efforts to create a more business-friendly environment have made it an attractive destination for foreign investors.

- Strong Private Sector Growth: Government initiatives to boost the private sector, including supporting small and medium enterprises (SMEs), have contributed to economic growth. Privatization of certain sectors and public-private partnerships have also played a role.

- Expansion of Non-Oil Sectors: Sectors such as tourism, entertainment, and technology have seen rapid growth, fueled by government support and increased consumer spending. Events like the Saudi Seasons, international sporting events, and cultural festivals have attracted visitors and investments.

- Labor Market Reforms: Reforms in the labor market, including Saudization efforts (Nitaqat program) and improved labor laws, have increased workforce participation and productivity, particularly among women and young Saudis.

- Fiscal Prudence and Debt Management: Saudi Arabia has implemented effective fiscal policies, including managing public debt and reducing the budget deficit, which has helped stabilize the economy and promote growth.

- Global Economic Recovery: The global economic recovery post-COVID-19 also played a role, as increased global trade and investment flows positively impacted Saudi Arabia's economy.

These factors combined to create a robust and diversified growth environment, contributing to Saudi Arabia's rapid economic expansion

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Small businesses created 1.6 million net new jobs in 2019.

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What are the causes of WeWork company bankruptcies?

1. Aggressive Expansion: WeWork's rapid growth and high-risk strategy led to significant overextension.

2. Leadership Issues: Adam Neumann's controversial leadership and governance practices contributed to the company's downfall.

3. Failed IPO: The failed IPO exposed financial vulnerabilities and led to a drastic reduction in valuation.

4. Pandemic Impact: COVID-19 severely affected demand for office spaces, compounding WeWork's financial issues.

5. Ongoing Financial Struggles: Despite efforts to stabilize, WeWork's substantial debts and lease obligations have continued to hamper its recovery efforts.

The story of WeWork is a cautionary tale about the risks of rapid expansion and the importance of sustainable business practices and transparent governance.

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Challenges of Commercial Real Estate Development

While commercial real estate development offers substantial rewards, it also comes with its share of challenges:

Market Risk: The demand for commercial properties is influenced by economic cycles and market conditions. Developers must carefully assess these factors to minimize risk.

Zoning and Regulations: Commercial development is subject to various zoning regulations, building codes, and environmental requirements. Navigating these regulations can be complex and time-consuming.

Financing: Securing financing for commercial projects can be a daunting task, as these developments often require substantial capital. Lenders may be cautious due to market volatility.

Tenant Attraction and Retention: Finding and retaining tenants can be competitive. Developers must create spaces that meet the needs and preferences of businesses and adapt to evolving market demands.

Sustainability: There is a growing emphasis on sustainability in commercial real estate development. Developers must consider eco-friendly design and construction practices to meet environmental standards.

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Financial Sources

In the future, for a business I would be starting up, I would be the first investor into that business. A personal investment is always a good place to start. I would use savings and/or collateral on my assets. This will also help when applying for a bank loan as it will show them I have commitment.

The next financial source I would look into for my future business would be a bank loan. I would need a bank loan in order to expand on my business and I think bankers wouldn't mind helping me because I have work experience related to my business and will have a solid business plan that will lead to action.

Personally I wouldn't choose "love money" as an option because I believe business and family should be kept seperate as it can sometimes cause stressful situations.

Top Strategies to Increase Cash Flow with Passive Income

Entrepreneurs often find themselves in a difficult position where they face cash flow management difficulties. This can be the bane of their existence as an entrepreneur, and it’s not uncommon for these problems to arise when entrepreneurs struggle with managing their finances well enough.

Entrepreneurs who want to ensure their businesses always have a consistent source of capital can generate passive income by investing in, for instance, royalty payments or licensing fees. This is one way that entrepreneurs are able to overcome the challenges involved with being self-employed because it doesn’t require too much time commitment on behalf of them personally.

Passive income is the best way to make money without doing anything. There are many types of passive businesses that can provide you with enough funds, and let your bank account grow while sitting at home or any other place of leisure!

Passive Income Strategies That Can Increase Cash Flow:

1. Create and Sell Digital Products:

This is a passive income strategy that you can use to generate an abundance of revenue. The method for creating and selling digital products like eBooks, videos or any other media product your audience desires should not be too difficult with this particular business model because all it takes are some ideas in order make them happen!

2. Create a blog or YouTube channel:

If you have a popular YouTube channel or blog, then the views and revenue from each video will add up quickly. You can make money just by showing advertisements on your site. If you have the potential of generating enough traffic, it’s possible that each month may provide an income for yourself!

3. Get Paid For Referring Leads:

You can make money by referring leads to your business. For example, if you own the real estate company and want customers who will pay more for their services than what they were paying before then to use LeadGenius which connects them with different businesses that need help on both sides of transactions as well as those looking specifically at referrals from other sources such a contractor or HR report manager in order generate revenue off these new connections!

4. Promote Affiliate Products:

Affiliate marketing is a great way to make money on the internet. This business model promotes products and services for other companies, in return, it receives a percentage of their sales roll-up amount with your own shipping fees included at no extra cost!

5. Invest In The Stock Market:

Investing in the stock market is a great way to generate passive income. However, this process does require a significant commitment of time and money as you have provided for an account with a broker/dealer who will give research reports that can be used by buyers or sellers alike; monitor your investments regularly (at least daily), and integrate cash flow management software into your business so it reaps exponential benefits!

Invoicera is a game-changing new way to manage your cash flow. Utilizing Invoicera can be the perfect solution for small businesses and entrepreneurs who need an effective system tracking all their income and expenses, saving them time in doing so manually every month!

Source: 7 Proven Strategies to Increase Cash Flow with Passive Income

Why invest in in Saudi Arabia?

Investing in Saudi Arabia is highly attractive due to its strategic location, economic reforms, and ambitious Vision 2030. The country is diversifying away from oil, with massive investments in sectors like tourism, technology, and renewable energy. Key factors include:

- Vision 2030: Transformative reforms aimed at economic diversification and reducing oil dependency.

- Strategic Location: Central hub connecting Europe, Asia, and Africa, ideal for regional and international trade.

- Rich Resources: Leading global energy producer with abundant natural resources and emerging mining opportunities.

- Mega Projects: Landmark initiatives like NEOM and Qiddiya create opportunities in construction, tourism, and entertainment.

- Investment Reforms: Improved business environment with eased foreign ownership and investment incentives.

- Growing Economy: Largest economy in MENA, with a young, expanding population driving demand in various sectors.

- Innovation Focus: Government support for tech and digital transformation, fostering a thriving environment for startups and tech investments.

- Tourism Growth: Efforts to attract 100 million visitors by 2030 open opportunities in hospitality and cultural development.

- Sustainability Commitment: Initiatives like Green Saudi promote investment in clean energy and sustainable development.

In summary, Saudi Arabia offers a stable, resource-rich environment with significant growth potential, making it a compelling destination for global investors.

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Organic growth is the growth a company achieves by increasing output and enhancing sales internally. #KhalidAlbeshri #pivot #Holdingcompany #CEO #groups #businessminded #businessquotes #businesssuccess  #businessman #businesstip #businessideas #womeninbusiness #businessmarketing #businessconsulting #businesspassion #socialmedia #businessopportunity #businesslife #strategy #businesses #growth #businessmentor #businessmotivation #entrepreneurs #creditrepair #coaching #businessplanning #networking #businessonline #consulting #contentmarketing #businessmanagement #businessconsultants #businessstartup #marketingtips

Three tips to grow a corporate's portfolio

1. Focus on Core Competencies:

Identify and leverage the organization's core competencies. These are the unique strengths and capabilities that set the company apart from competitors. Concentrate efforts on expanding within areas where the company already excels, as this can lead to a more efficient use of resources and a higher likelihood of success. Consider how existing strengths can be applied to new markets, customer segments, or product/service offerings.

2. Customer-Centric Approach:

Prioritize understanding and meeting customer needs. A customer-centric approach can lead to increased customer loyalty, satisfaction, and repeat business. Gather feedback through surveys, customer interviews, and data analytics to identify areas for improvement or expansion. Tailor products and services to address specific pain points or desires of the target audience, ensuring that the portfolio aligns with customer preferences.

3. Strategic Partnerships and Collaborations:

Explore strategic partnerships and collaborations with other businesses in the industry. This can provide access to new markets, technologies, or distribution channels. Look for opportunities to create mutually beneficial relationships that enhance the overall value proposition for customers. Strategic alliances can also allow for shared resources, reduced costs, and increased efficiency, contributing to portfolio growth without the need for substantial internal investments.

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