Xero, Shopify and More Make Financial Announcements

Businesses that need help managing finances online got some welcome news this week. Xero and Wells Fargo unveiled a new financial tool, and Shopify announced that Apple Pay will be available as a payment option later this year.

Read on for these headlines and more in this week’s Small Business Trends news and information roundup.

Finance

Xero and Wells Fargo Unlock Financial Web for Business

Cloud-based accounting software platform provider Xero (NZE:XRO) and banking behemoth Wells Fargo & Company (NYSE:WFC) just did their small business customers a huge favor.

Shopify Announces Apple Pay as New Payment Option

The release of the new iOS 10 was not the only announcement made at the Apple (NASDAQ:AAPL) Worldwide Developers Conference in San Francisco recently. The tech giant said that Apple Pay, Apple’s mobile-payment service, will come to the Web this fall.

Economy

Texas, Utah Rank High as Small Business Friendly States, Survey Says

Running a company successfully is a challenge no matter where you are located, but in some business-friendly cities and states entrepreneurs have a relatively easier time. Small Business Friendly States and Cities According to a new study by Thumbtack, San Antonio and Nashville are the friendliest cities to small businesses. Among the states, Texas and Utah are the top favorites.

Nancy Pelosi Says Government, Not Apple, Made iPhone – Really?

House Minority Leader Nancy Pelosi has come under heavy fire after arguing the iPhone was “invented” by the federal government rather than Apple (NASDAQ:AAPL). It’s only the latest in what seems a trend among political leaders trying to take credit for innovation and economic development away from entrepreneurs and the business community.

Employment

Web.com Announces New Appointments After Yodle Acquisition

Coming soon after acquiring local online marketing startup Yodle, Web.com Group, Inc. (NASDAQ:WEB) has announced some new appointments as it integrates the new acquisition into its company. Yodle, which focuses on local online marketing for small businesses, is an important addition to Web.com.

How the New York Paid Family Leave Act Affects Small Businesses

New York state just passed a paid family leave proposal that some see as the most forward-thinking piece of legislation of its kind ever enacted. Others feel it could turn into a bitter pill that the state’s hundreds of thousands of small businesses may be forced to swallow.

Management

New PayChex WORX Small Business Resource Center Provides Advice

Human resources industry leader Paychex (NASDAQ:PAYX) has expanded its digital resource base with the launch of an all-new content hub. Paychex WORX is designed to further complement Paychex’s human capital management services by providing businesses of all shapes and sizes with meaningful tips and tricks to assist them in establishing market dominance.

Advertising

New Facebook Ads Promote, Measure In-Store Visits, Purchases

Mobile technology is changing the way people shop. And that doesn’t mean that people are just using mobile payments or completing purchases from their phones. Consumers also use their mobile devices to find physical retail locations where they can make purchases.

Small Biz Spotlight

Spotlight: Black Dinah Chocolatiers Makes Chocolate an Experience

Some businesses can succeed regardless of their location. Others are only created with a specific location in mind. Such is the case for Black Dinah Chocolatiers. The founders fell in love with Isle au Haut in Maine. And they built a chocolate business to support their life on the island. Read about their journey and the business in this week’s Small Business Spotlight.

Small Business Operations

Business Plus Introduces Payment Processing Service – 49 More Tools Coming

Business Plus, a small business management software and hardware technology provider, recently launched a payment processing solution that, it says, gives small businesses a “competitive edge.” The payment service represents the first of more than 50 tools the company plans to launch throughout the remainder of 2016, designed with small business management and marketing in mind.

So Long, Spreecast: Video Chat Platform Will Shut Down July 14

Businesses that have used Spreecast for video chat or larger forum discussions got some bad news last week when the company announced it will shut down the service effective July 14, 2016. The platform, unlike popular video chat options like Skype or Google Hangouts, didn’t require any software or integration with a specific platform in order for people to use it.

Social Media

How Much Do Small Businesses Spend on Facebook Marketing? Not That Much

Millions of small businesses are using Facebook but only half are spending any marketing dollars there. New data from Alignable shows that half of the small businesses it surveyed — among more than 1,200 of its users — spent $0 last quarter on their Facebook marketing efforts.

MySpace Hacked — That’s Right, MySpace — for User Info

Shortly before Memorial Day weekend in May, 2016, MySpace (yes, it does still exist), became aware that its user login data was being made available in an online hacker forum without authorization. Time Inc. (NYSE:TIME), the current owner of MySpace.com, later confirmed that indeed the once-popular social media site was hacked and its user data breached.

Startup

Why are Business Accelerators Increasing in Number?

AngelList, an online platform that matches high potential startups with investors and employees currently indicates that 578 accelerators are in operation, up from one in 2005. Why the enormous increase in the number of accelerators in the United States over the past decade? What’s Behind the Growing Number of Business Accelerators in the U.S.

Technology Trends

4 New LG X Series Phones Focus on Different Feature Sets

Smartphone makers are doing all they can to come up with the next best thing and until now, each attempt was designed to put more of the best technology in a single device. But there is only so much you can put in a form factor as small as a smartphone.

Apple iMessage Update Lets You Send Payments, Edit Photos, More

Until very recently, the thought of Apple (NASDAQ:AAPL) ever opening its applications like other companies for developers with APIs and SDKs wasn’t even contemplated.

Apollo 7 Earbuds Deliver Wireless Experience – with Hiccups

Earbuds and earphones that block out the world and let you experience an audio book or take an important call anywhere are important to productivity. And for small business owners and entrepreneurs on the go, they can be vital to letting you stay connected. Over the last decade, companies have spent considerable time trying to improve both headphones and earbuds.

Meem Creates a Smartphone Backup Every Time You Recharge

MEEM is a charger, mini-computer and backup storage device all rolled into one designed to store the personal bits of data in your iOS or Android smartphone every time you plug it in. There is a lot of data on the smartphones you carry, some much more important than the rest. In most cases, the personal information, such as personal photos, has value that can’t be quantified.

Apple Unveils iOS 10 Update with New 3D Touch Pop Ups, More

Apple (NASDAQ:AAPL) announced some updates to its mobile operating systems across the board during Apple Worldwide Developers Conference 2016 recently. Those updates included some new features and a more open policy for app developers, which will hopefully bring more innovative solutions in the future.

Apple Includes Siri for Mac in Latest Update

The thirteenth version of OS X got a name change to macOS, also called Sierra, and just like its two predecessors Apple (NASDAQ:AAPL) has decided to keep the alpine theme with its latest operating system. But the feature that is getting the most attention right now is the availability of Siri for Mac.

69 Percent of SMBs Focus IT Budget on Emerging Tech

Sixty-nine percent of small and medium-sized businesses are devoting part of their IT budget for 2016 to newer and emerging technologies. These include technologies like 3D printers and wearable devices, as well as dashboard and data visualization software applications. The stat comes from a new survey-based whitepaper by technology company Insight Enterprises Inc. (NASDAQ: NSIT).

Image: Shopify

[“source-smallbiztrends”]

8 Ways to Protect You and Clients from Financial Fraud

Fraud Protection Tips

The predicament unfolding at Wells Fargo where 5,300 employees were fired due to phony bank accounts opened to “boost their sales figures and make more money” is not new in the financial world.

Unscrupulous practices have occurred for years in varying degrees.

In 1985, a just-fired employee at a New York-based commercial bank stood in front of his former co-workers to explain how he siphoned money from several bank accounts to which he had access.

The explanation was not to teach other employees how to do the same, but rather, done while the former employee was flanked on either side by his former supervisor and a security guard, it was a warning to workers that such theft would not go unpunished.

Working alongside those employees as a management assistant gave me front-seat access to a situation I did not know was possible until hearing the details.

Wells Fargo’s dilemma provides small business owners with vital lessons to keep financial accounts secure and relationships with clients strong.

Financial Fraud Protection Tips and Tricks

For You

1. Make time each month to reconcile your financial accounts. Even if an accountant is privy to your records, it’s imperative that you personally review statements in a timely manner.

2. Access your credit report every year through the free service, AnnualCreditReport.com or through another preference. Such review won’t help you detect fraud that occurs between yearly audits. However, you will still see details that may negatively impact finances.

3. Set up alerts through mobile banking, and that includes a password on your cellphone that prohibits access to financial records if your phone is lost, misplaced or scanned.

4. Install apps such as Dasheroo and PowerWallet on your cellphone to know what’s coming in and going out of your bank accounts. Most apps are accessible on your computer and tablet so there’s no excuse for not taking action at a moment’s notice.

For Clients

1. Send a letter of assurance by mail and email whenever mismanagement occurs in your industry. You’ll receive praise for reaching out in times of crisis whether it’s stated verbally or acknowledged silently. Send the notice in both formats to ensure notification.

2. Call clients by phone to back up mail and email notices as additional security to strengthen client trust and value in your service.

3. Save notifications that you receive from other industries to re-structure alerts sent to clients. This is helpful if you have difficulty writing copy and do not have staff or an on-call writer to create the content.

4. Become an ally by notifying clients each time disruptions come to light in industries that impact them. For example, if you are not in the financial industry, notification about Wells Fargo and pointing clients to an online article that helps them detect fraud positions you as a valuable and reliable connection.

Which of these internal checks and client-based services will you pursue tomorrow?

Financial Security Photo via Shutterstock

[“source-smallbiztrends”]

Pokemon Go Financial Impact Will Be Limited, Says Nintendo; Stock Crashes

Pokemon Go Financial Impact Will Be Limited, Says Nintendo; Stock Crashes

Nintendo Co. shares plunged by the most since 1990 after the company said late Friday that the financial impact from the worldwide hit Pokemon Go will be limited.

The stock sank 18 percent to JPY 23,220 at the close in Tokyo Monday, the maximum one-day move allowed by the exchange, wiping out JPY 708 billion ($6.7 billion or roughly Rs. 45,096 crores) in market value. After debuting in the US earlier this month, Pokemon Go launched in Japan on Friday and became available in Hong Kong on Monday.

The correction comes after Pokemon Go’s release almost doubled Nintendo’s stock through Friday’s close, adding $17.6 billion (roughly Rs. 1,18,468 crores) in market capitalization. Nintendo is a shareholder in the game’s developer Niantic Inc. and Pokemon Co., but has an “effective economic stake” of just 13 percent in the app, according to an estimate by Macquarie Securities analyst David Gibson.

(Also see:  Pokemon Go No Longer Working in Parts of India, Reddit Users Complain)

“It’s still possible to say that in the short-term it’s overheated,” said Tomoaki Kawasaki, an analyst at Iwai Cosmo Securities Co.

In a press release after the market closed on Friday in Japan, the Kyoto-based company said the game’s financial impact will be “limited” and that it is not necessary to revise its annual forecast even after factoring in current conditions. It also said revenue from Pokemon Go Plus, a Nintendo-produced accessory for the game expected to go on sale soon, has already been factored into the current guidance.

(Also see:  This Pokemon Go Map Will Show You Every Pokemon Location)

“The content of the announcement itself is not that shocking, but it is a surprise they said it on Friday instead of when they report earnings” later this week, said Nobuyuki Fujimoto, a senior market analyst at SBI Securities Co. “The game has been published in Japan, so for the time being we’ve exhausted all the catalysts.”

(Also see: Pokemon Go iOS: How to Download Pokemon Go for iPhone, iPad)

The company will report first-quarter earnings on Wednesday after the market close, a period which ended before the release of Pokemon Go. The firm is forecasting an annual net profit of JPY 35 billion in the current fiscal year, up from the JPY 16.5 billion it earned last year.

Short interest in Nintendo surged earlier this month as bears bet the stock rally had gone too far. As of July 20, short-sellers had built up a bet worth $940 million (roughly Rs. 6,326 crores) – or 2.6 percent of outstanding shares – that the stock would fall, according to researcher IHS Markit. At current prices, such a bet would have generated about $140 million (roughly Rs. 942 crores) in profits.

(Also see: How to Download Pokemon Go APK, Install, and Play on Android)

Shares of related companies also fell. McDonald’s Holdings Co. (Japan), the game’s exclusive launch partner, declined 12 percent. Electronic parts maker Hosiden Corp., which Mitsubishi UFJ Financial Group said may produce Pokemon Go Plus, sank 16 percent.

(Also see: How to Play Pokemon Go in India? Here’s Everything You Need to Know)

Besides the earnings announcement on Wednesday, Morgan Stanley said the next focus point is if Pokemon Go launches in China, where access to geographical data necessary for the game is restricted by the government. Investors are also waiting for announcements on Nintendo’s other upcoming mobile games and its next-generation console expected to be released next year, analysts Mia Nagasaka and Yuki Maeda wrote in a July 22 report.

© 2016 Bloomberg L.P.

Tags: Android, Apple, Apps, Gaming, Internet, Nintendo, Pokemon, Pokemon Go]
[“Source-Gadgets”]

 

India’s Black financial system Shrinking, nonetheless Exceeds Thailand’s GDP: Ambit Capital

India's Black Economy Shrinking, Still Exceeds Thailand's GDP: Ambit Capital

New Delhi: Pegging India’s ‘black financial system‘ at over Rs 30 lakh crore or about 20 in keeping withcent of total GDP, a new take a look at says it’s been contracting steadily over the years howevernevertheless remains larger than the general economic length of nations like Thailand and Argentina.

except, a crackdown on black cash has made the value of capital costlier inside the black financial system with the lending charges having risen to as high as 34 consistent with cent, from approximately24 in line with cent a yr in the past, as in keeping with the take a look at through Ambit Capital studies.

The look at said that the crackdown has had a fewaccidental consequences” in shape of an growth inpreference for coins in its physical form and a awesome decline in the utilization of formal banking channels with record low deposit boom – which can also maintain the GDP increase charge flat this year.

The time period ‘black economytypically refers to the monetary activities outdoor formal banking channels and consist of coins transactions in excessiveprice assets like gold and actual property.

given that India’s GDP in calendar 12 months 2016 is expected to be $2.3 trillion, the scale of India’s blackeconomy is ready $460 billion (over Rs 30 lakh crore), which is greater than the stated GDP of emergingmarkets like Thailand and Argentina,” Ambit Capital research said in a research be aware.

A majority of this black money is locked up in bodily assets such as real estate and gold, it added.

bodily financial savings units have been historically desired to monetary financial savingsinstruments in India due to the fact buy of physical belongings may be funded using black money, at the same time as the acquisition of financial property can not be funded in one of these manner due toa strong paper path.

whilst legit figures concerning the quantum of black money flowing into actual property sector are notavailable, experts advocate that greater than 30 according to cent of India’s actual estate region is funded through black cash.

The record said that for the reason that Narendra Modi government assumed electricity there has been aclean step-up in tests round gold transactions and it has grow to be increasingly hard to park unaccounted cash inside the form of jewellery or bullion.

due to diverse measures taken by using the authorities to tighten the noose around black cash, there was a clear drop in the expenses of land and real estate and a decline inside the urge for food in gold, itsaid.

The crackdown has, however, additionally led to growth within the desire for coins in bodily shape andsuperb decline inside the usage of formal banking channels as evinced through the decline in bankdeposits as well as utilization of debit cards.

“The combination of heightened hobby costs within the black economic system in addition to the lackof liquidity within the banking system has brought about the weighted common cost of debt capital in India growing by using 30 bps over the past one year while coverage charges had been cut by means of a hundred bps,” the file cited.

“As banks are unwilling to lend to sub-investment grade creditors because of their own NPA troubles, thiscredit demand has shifted absolutely to casual channels of lending. This, in turn, has pushed boom in lending prices in the black economic system to as high as approximately 34 in line with cent in step with annum as per our primary records resources (towards about 24 in keeping with cent a 12 monthsin the past),” it delivered.