Are you struggling to make right financial choices to save money? Do complex financial concepts and policies eat your brain? Then check this section called ‘Personal Financial Planning Simplified’, launched recently by living smartly. This section provides clear and simple information about various financial aspects and also provides smart tips on earnings, savings, tracking expenses, investments, etc. to make people take right financial choices.

When asked about what encouraged them to start this section, a spokesperson from Living Smartly said, “Many people today, right from top level managers to house wives, are struggling to manage their finances properly due to lack of direction. As professionals in financial industry, we thought it is our moral responsibility to share our expertise and extensive knowledge in the subject with the struggling people, and to help them lead a decent life.”

It provides unbiased information, which guides people in the right direction with the finances. It is not like a financial management text book. The very attractive feature of this section is that you don’t have to spend months and years to understand the concepts and principles of finances.

Every concept related to finance is simplified, so that every individual when going through the articles can relate to their own situations in life. It establishes the fact that financial planning is all about simple management techniques and the right attitude.

Some of the articles posted in this section thus far are, ‘How to save money – Secrets you must know’; ‘Financial intelligence – How to organize expenses’; ‘Shopping addiction’; ‘Living below means’ and many more.

This section is currently available at http://living-smartly.com/category/personal-financial-planning

Living smartly also offers many other sections like Health, Social Skills, Opinions, Personal Productivity, Philosophy, Technology, which provide smart tips, insights and builds perspective to make right choices to face various challenges in life. The website on the whole is aimed at improving quality of life of people by providing thought provoking and objective information on various aspects of daily life.

With the launch of this section, the website covers all aspects of day to day life that are crucial to make you healthy, wealthy and wise.

For further information please contact:
Smart Choice,
Street 20, Sector 17, 1174,
Hyderabad – 500082.
Phone : 040-77853151
Website: http://living-smartly.com

About livingsmartly:
Living-smartly.com is a website providing smart living tips that helps a person in smart living instead of simple living and in making smart choices. It provides smart living tips on several topics that are encountered in daily life and will help to take objective and smart decisions. It caters to that segment of society which is educated, hard-working and focuses on better living.

making smart choices

Goldman Sachs is an investment bank which does not lend directly to entrepreneurs, but it is currently planning to lend $300 million called CDFIs (Community Development Financial Institutions) to small businesses in low income communities. It is also planning to lend $200 million to community colleges and business education programs in other organizations.

$200 million investment on CDFIs were announced by Citigroup. Under the CDFI program, CDFIs can request for 5 year credit from Citi. It is just to increase lending to qualifying small firms.

Bank of American in may invested $19.4 billion during the first quarter which is up $3 billion when compared with last year. It has lend more than $22 billion in the next 3 quarters in order to meet its goal.

About half of the small business owners who were surveyed expressed that they were relying on family and friends for money. Almost one third of them expressed that they had obtained bank loans and about 10 percent of the small business owners had chosen alternative lenders which also included those that give loans against the company’s assets.

Key findings of report

• More than 63 percent of the small business owners have increased their growth opportunities.
• About 40 percent of the small business owners reported decline in the access to growth capital.
• About 44 percent of them reported drop in the confidence in economy.
• 55 percent of them reported increase in competitive pressures.

About 31 percent of the small business owners who were surveyed expressed that the access to growth as the top business issue in any category. About 27 percent of them felt that economic environment as the secondary to the access to the capital.

About 25 percent of small businesses are in the service industry, 14.4 percent in technology, 12.7 percent in finance and 12.2 percent in manufacturing. About 26 percent of small business owners respondents have reported that they have been operating their companies for more than past 20 years. About 17.9 respondents were operating from 10 to 20 years. Almost all the respondents are owners of their firms and about 61.9 percent of them are active owners with more than 50 percent ownership.

• According to latest FedEx Office of the Times National Small Business Survey, 42 percent of the small business owners are likely to spend more on marketing and advertising in this year.
• 46 percent will be spent on improving online presence.
• 44 percent will be sent on print materials, newsletters or direct mails.
• 43 percent would be spent on brochures.
• 39 percent will go for Yellow Pages listings.
• 37 percent each will go for fliers and signs, banners or posters.
• 36 percent will be spent for social networking.
• 32 percent for newspaper advertisements.

There was less expenditure by 34 percent of small business owners on marketing and advertising, previous year. Around 31 percent of the small business owners said that the decision had a negative impact on their business. Now-a-days because of increase in affordability and almost free options, there is increase in expenditure for marketing and advertising. Many of them are not cutting their spending. Marketing has a lot of benefits. Just some time and money are enough for marketing and advertising.

According to CDWs recent IT monitor, small businesses are investing hugely on IT by just following the large and mid sized businesses. Only 6 percent of small business owners are interested in hiring IT personnel in the next six month. There is not much increase in hiring when we consider investing. There is decrease in interest in hiring new IT professionals about 4 percent. It is a very good idea for investing in technology for all the small businesses. Now-a-days, there a lot of new innovative technology related products in the market. They will be very much helpful in increasing productivity and to operate more efficiently.

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According to a survey by the National Federation of Independent Business, there was a great elevation in the proportion of firms reporting tighter credit conditions during the past 3 months has remained same. The loans were declined to small business for less than $670 billion in the first quarter of 2010. In the second quarter of 2008 around $710 billion was denied. The major problem might be the lack of data. It is unsure whether the problem is lack of demand for credit or tight credit or both of them.

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There was a dip in the Discover Small Business Watch Index. It was a dip of 86.1 percent in June from 87.4 in May.

There was a hike in the temporary cash flow issue to 51 percent in June which was up from 45 percent in May, as per small business owners. It was reported to be highest since January. Around 45 percent of the small business owners described no cash flow effects which was down from 48 percent in May. 4 percent of the small business owners were unsure.

• In June, 29 percent of small business owners think that the overall there is improvement in economy which decrease from 35 percent in May.
• According to 51 percent of small business owners, the economy is getting worse. 29 percent of business owners think that there is overall good improvement in economy. Around 16 percent of the small business owners perceive that there is no change in economy.

There is no change in the confidence level of Americans in the small businesses from the last year, though they have raised up from pre-financial-crisis. Since the pre-recession days of 2007, only 6% of Americans express very little or no confidence in small businesses.

Why’ American’s Believe in small Business

• Big businesses are often perceived to have no interest or little interest in many local communities they serve. Whereas, small business owners are in their communities as friends and neighbors.
• Now-a-days, Congress is putting some effort before it a new legislative to help small businesses for getting credit and to expand their current economic environment. This may give them general recognition that small businesses drive U.S. job growth. Thus, the government has to find some ways to encourage them to expand.
• Gallup’s political appeal is another reason which may relate to the findings that Americans irrespective of age, income, gender, and ideology have much confidence in small businesses.

In the current economic condition despite Americans’ ongoing support, America’s small businesses are still struggling.

SMEs Role in UK Economy

• There were 4 million small businesses in the UK in 2003, which is now up to 4.8 million in 2008.
• Around 3 million businesses are only owners.
• Around 1.3 million are companies.
• 462,000 are partnerships
• Less than 20 people are employed by 97 percent of firms.
• Fewer than 5 people are employed by 95 percent of firms.
• Every year, many people, 500,000 people start their own businesses.
• More than 59.4 percent are employed by small and medium-sized firms of the private sector work force.
• Small and medium-sized firms employ 13.7 million people.
• More than 50.1 percent of the UK turnover is contributed by small firms.
• Small firms contribute to 64 percent of commercial innovations.
• Of all private sectors enterprises operating in Business Services which contribute to 25 percent.
• Wholesales, retail or repairs of all private sector enterprises operate contribute 21 percent.
• The tax is collected by small firms and they pay VAT, Tax, NICs and other duties which help pay for the public services.
• Of all, there are 33 percent of UK enterprises in London and the South-East.
• More than 2 million people run their small-businesses from home.
• Around seven and half million people work from home for their boss.

According to a Wakefield research survey, which was conducted on 1024 representative Americans stated that more than 70 percent of Americans think small businesses are more likely to turn around the economy than the federal government of U.S. However, only a very small number of respondents (1 in 10) took this responsibility into their own hands and started a business since the start of the recession. Almost two-thirds of Americans felt that the federal government has been ineffective in creating jobs in the past year and they believe it will be the same case in the nest year also. Only 7 percent of respondents were very confident on the government to create considerable jobs in the next year.

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• Continued government spending to boost the weak economy
• Controlling the nation’s deficit.

After the announcement of new budget president Obama said, “We can not continue to spend more. This is a time to save what we can, spend what we need and live within our means”.

2011 budget will bring national unemployment rate at the average of 9.2 % and the nation’s gross domestic product growth to 3.8%. A new tax breaks and incentives for a small business are also proposed in this new budget. Other spending hikes like adding billions more for Pell Grants to help students pay for college was also proposed. This budget will bring an end to fossil-fuel tax subsidies for oil, gas and coal companies.

According to budget Chief Peter Orszag, the new budget is developed with “Paygo” principle, which requires new spending proposal or tax hikes. He also announces that this new budget will reduce the nation debt by $1.2 trillion over the next ten years in several ways.

President Obama’s budget got a mixed review. According to Harry Reid, a job is the top priority of the American people and so it is in Obama’s budget. But democrats were not pleased with the entire budget mainly on spending in so many categories.

The downfall of real estate and consumer-fueled crash has made Spain to suffer from Eurozone high jobless rate of about 20 percent, and the government had build up a deficit which in 2009 corresponded to 11.4 percent of GDP.

Spanish officials argue they are more fortunate in several respects. It has no integrity problems like Greece, which is liable of exaggerating its debt numbers, and its banking system is almost sound compared with other countries that had to warrant their banking systems out.

Spain had tried to drift its way out of recession by creating costly jobs and motivation measures, increasing a budget shortfall that has alarmed markets and lenders. Spanish sovereign debt is under pressure, with creditors appealing for elevated interest rate to buy it and rates also increasing for insurance. Spain’s economy is much bigger than that of Greece, so it’s a far huge problem for the European Union and the Euro if markets create to doubt regarding Spain’s ability to pay.

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