Crowe Horwath Services in Jamaica

Sunday, October 23, 2016

UHY Dawgen merges with Crowe Horwath International - Business -

Minister of State in the Mionistry of Finance and Public Service Ruddy Spencer (left) makes a point to Juan Carlos Lara Povedano, Americas regional executive for Crowe Horwath International and Dawkins Brown managing partner of Crowe Howath Jamaica at the launch of the new brand at the Marriott Courtyard in New Kingston on Thursday.Photo: Bryan Cummings

Local accounting firm UHY Dawgen has merged with Crowe Horwath International creating what is 
now dubbed Jamaica’s newest member of the top 10 global professional services network.

It’s an initiative that will see the newly rebranded firm, Crowe Howath Jamaica, employing another 35 people by year end as it seeks to increase its ability to compete in the global marketplace, while further embracing local small and medium-sized enterprises (SME) seeking to do business internationally.

“We have created a new programme called SME 75, where we have a product for the smallest businesses in this country. Normally for firms of our size, the perception is that people cannot afford our services and that’s not so.
“How it works is that the smallest company now in Jamaica might have up to five employees and they might be doing 75 transactions per month. All they will be paying is $6,200 per month, including tax returns, which will increase their chances of being guaranteed a loan from the financial institutions,” managing partner of Crowe Howath Jamaica, Dawkins Brown, told the Jamaica Observer at the launch of the new brand on Thursday.
The event was held at the Marriott Courtyard in New Kingston.
The new programme will assist SME with general accounting procedures, tax planning, contract reviews. Crowe Howath Jamaica is also expanding its SMEs services to assist individuals looking to expand their business internationally.
“You have many small business operators hoping to expand their operation overseas. We will provide the services of finding the right location, the partners for the business and so on to ensure the success of that Jamaican company,” he said.
Aside from providing greater efficiencies for SMEs, Brown told Sunday Finance that the decision to merge operations with Crowe Howath International will also allow the company to expand its services to include information technology audit, international taxation, risk and legal advisories.

“Over the last two years Jamaica has seen an increase in cyber crimes and we had new legislations passed such as the Anti-Money Laundering and the Proceeds of Crime Act. To effectively comply with those legislations the organisation needs support, and Crowe has turnkey softwares that will immediately provide those monitoring internal services,” he said.

He added that the merger is also important for Jamaica’s threat of de-risking and correspondence banking.
“This is as a result of the international community and the technical support for cyber breaches and money laundering is not that forceful even though we have reached far. So we see a gap there and we are going to tap into that gap,” Brown continued.

“We will be embracing all risk services. Our US member firm has great capability and that’s what they are transferring here.”

Currently, Crowe Howath International says it is ranked among the top 10 global accounting networks with more than 200 independent accounting and advisory services firms in more than 130 countries. The international firm members are known for personal service to privately and publicly held businesses in all sectors, and have built an international reputation in the areas of audit, tax and advisory services.
With plans underway to expand its footprint into Caribbean markets, Crowe Howath Jamaica expects to see an increase of 35 per cent in its customer base over the next 12 months.
With locations in Kingston, Runaway Bay, Mandeville and Montego Bay, Dawgen adds to the strength of Crowe Howath International’s presence in the Caribbean.

UHY Dawgen was established in 2002 and in 2013 merged with Paul Goldson and Co, placing the firm in the top five local audit and professional services firms among PriceWaterhouseCoopers, Deloitte and Touche and KPMG. The firm currently has more than 90 staff members.

“We are excited to have a firm of Dawgen’s talent and capabilities join our network. The addition of Dawgen expands our network’s representation across the Americas and in the Caribbean market,” Chief Executive Officer of Crowe Horwath International J Kevin McGrath said via news release. “We look forward to having the professionals of Dawgen serve as a source of value for the clients of our network.”

Saturday, October 22, 2016

Planning Your Business Is The First Step

One morning you might wake up and like a ton of bricks a great idea for creating and starting your online business comes to mind, and you hadn't a doubt in your mind that you could turn it into a huge success. Start with the end in mind. Are you planning to start a new business? If you find a viable business you like, document your intentions, intended deal structure and what exact information you need to start your purchase due diligence.

Many small businesses start with a business plan based on guesses. The idea for you business plan comes to mind, its time to start the new business and you are all ready to go but the only problem is that you need money, so it is time to find the investors, angel investors and you will need to show them your business plan.

If you plan to jump into the fray, however, the first step is to create a solid business plan. The business plan you create will be one of the most important documents in your new businesses. It doesn't matter if your business is just getting started or it is an existing business, creating a business plan helps you understand your business.

If so, have you started writing your business plan yet. In all honestly, when writing anything, even a business plan, it is the wording that makes all the difference in the world. Writing a plan for your project requires you to have an idea and vision of the whole project, the component parts of the project and the operating system behind your project.

The world is full of business-minded individuals, whether their goals are to lead a multi-million dollar company into the future, or simply start their own small business to provide services that are in demand and services they enjoy performing. You will need a brief outline of your business, your mission statement, goals, balance sheet, income statement, projected cash flow and plan for unforeseen hindrances.

Therefore, it is very important for the potential business owner to spend as much time and effort preparing and creating a business plan as they do finding the perfect location and the best restaurant ovens. Show why potential customers will award business to you, rather than your competition.  One page of your business plan can have the following information: it can contain the potential partners, employees, board of directors, and you can show where the business will be in future years.

Angel investors want you to succeed and often they also like to give their input and if you end up taking their money for your startup, the need to realize that their input needs to be taken seriously. One of the great myths is that you only need a Business Plan if you are going to borrow money from a bank. A business plan of a start up business making no money -- for example -- is going to be bigger than the ones that are running and making money already. The angel and VC investors, are risking their capital money when they invest in your business, they hope in the long run they will receive returns that is worth many times what they put in.

Making A Financial Plan

We have all learned that life changes quickly, some of the good things we may be experiencing today might not be so tomorrow. It is also true that the negative experiences we are also now having could disappear the next day, and we may experience a time of prosperity and wealth. We never know what will come until we're already faced with it. Thus, the best way for us to prepared for these unexpected events is to plan.

Knowing and understanding the different basics of financial planning can provide us a clear way and map and help us prepare and set up a good solid financial plan that will improve our chances of meeting our life goals. Financial planning involves engaging a broad view of one's financial affairs looking over many areas of wealth supervision and then running through a step-by-step process to solve financial problems and achieve financial goals.

Financial planning education states that setting financial goals is important and every person should seek to make plans and prepare. How is this done, then? It's actually very easy. Write down what you want to achieve in the future. Examples of this include putting up a new house, buying a new car, paying off loan and card debts, or preparing for a life in retirement.

Next, identify which of these plans are short term and which are long term. For the long term financial goals, break them down in short-term intervals to make them easier to achieve. After you've done this, educate yourself in money matters. Read up on how to manage your money better and listen to tips from business experts, so you can apply what has worked for them to your own plan. There are lots of books, magazines and Internet sites that cater to this topic alone.

Finally, evaluate what you're doing. Is it working for you, or does it seem to be slowing you down? Adjust where you think you are weak and play on your strengths. If you find that the program you have set is not effective, re-evaluate your plan and make the necessary changes.

The key to financial planning is not the planning itself, but the starting and the maintaining. What good is a strong financial plan if you don't have the courage to start it in the first place and have the discipline to see it through until the goals are reached? There is no better time than now. Start thinking about your needs and your financial future, making financial plans and setting up a financial plan will provide you with a clear and understandable plan for your future.

Business Start Up Money

Many think they know all about how to begin their business career and think that once they get started with an activity it is "as easy as Pie" to keep it going.  It is so easy for a person to think that he or she is well versed in business start up money.  Even though it seems to be just a common topic, after reading this piece of work you would find that there are many unexpected problems with starting a career in the best of ways.

Begin Your Career With Business Start Up Money

When trying to start your own activity, business start up money is one of the most important and difficult issues to face. If you don't have the right business start up capital you will never succeed, no matter how good your ideas, how much you know about business management, or how much experience you have. The good thing about it is that there are many ways to initiate your own business. Unfortunately, however, these can be more trouble than they are worth.

Here are a few tips to help you find sufficient business start up money

Bank Loans

1. New businesses need time before they can be profitable. For this reason, the best thing to do is  to get some business start up money from a bank, knowing that you will be expected to repay it quickly.  The key to making good profit and quickly, is to get hold of some good investors who understand how new businesses work.... well you just have to pray and hope you can find them or they find you!! and what if you might be out of luck? Just remember if you can't make a profit within the first year or two, your creditors will be out for your head, the cost of financing your business is too much, and by the end of the day you might have to declare bankruptcy because of  start up loans!

The Secret Of Partnership

2. Finding a true, honest partner who is willing to share the initial expenses is one of the best ways to get business start up money. This can be a lot harder than it seems. People who have a lot of money generally do not get it by being willing to part with it easily. The end result is that partners do not grow on trees. Although you might be able to find an ambitious investor who is willing to give you the business start up money that you need, it will not be easy to get the funding that you want. You only have to hope there is a personal connection between the two of you or you really have a brilliant project for a new business. Almost all businessmen and businesswomen are held back from their own entrepreneurial dreams by lack of business start up money. It is just a reality that you have to face if you are trying to start a new business.

Making a Profit One Day At a time

3. A lot of people make the mistake of gathering as much business start up money as they can in order to build everything all at once. They end up renting facilities that are too large, hiring too many people, and setting goals that are too high for them to achieve. The result of all this is that that they will lose money even faster, and be in greater debt. One of the best things to do is to start small and then grow bigger. If you are willing to start small, you can grow big. This way you can better control the progress of your employment and get better results.

Life is about choices and what you get in your life depends on your choices. So whatever your decision is regarding business start up money you should have the situation under control and not let bad choices be a key factor of your ruin.

You picked out this commentary and read it; the result is that you got the chance to gain so much information and start off your business career in the best of ways.

Stabilize Company Performance During Intense Times

Even healthy, high performing organizations have been known to falter when market instability and pressures intensify. If your company is facing unexpected challenges, Crowe Horwath can help with a full range of restructuring advisory services, including:

  • Financial restructuring to stabilize financial performance. Crowe can help you develop and implement turnaround restructuring plans, manage creditor negotiations, and plan before bankruptcy and execute after bankruptcy.
  • Operational performance improvement consulting to re-establish sustainable cash flow and long-term viability. We analyze current operations, recommend operational revisions, and develop and implement high impact business plans to implement cost saving initiatives and re-establish cash flow and viability.
  • Crisis management for rapid results. Crowe works with you to help produce fast, measurable results, including implementing critical cash conservation procedures, evaluating alternative financing options, planning for and executing expedited sales of non-mission-critical assets, and assisting in bankruptcy proceedings.
  • Interim management to fill the gaps. Our restructuring consultants can quickly step into key financial and operational leadership positions, such as chief executive officer, chief financial officer, chief operating officer, or chief restructuring officer, to provide critical support and accelerate the restructuring plan.
Crowe offers a range of restructuring advisory services designed to maximize value for all stakeholders, including developing and implementing turnaround restructuring plans, managing creditor negotiations, communicating to your board, or planning before and executing after a bankruptcy.

Wednesday, October 5, 2016

What is stock?

For those that are new to investing, learning the lingo that is used on Wall Street and in economics classrooms around the globe is essential. When you hear the phrase "stock market" you get a vague picture of a group of men and women running around like crazy people with slips of paper in their hands and yelling out numbers and words that you can't quite make out. To understand what's going on, let's start at the beginning and find out what stock is.

Stock can be described as the wealth (or capital) raised by a company or a corporation from the issuance of shares.

If you own stock in a company, say Microsoft, that would make you a shareholder in Microsoft. If you take all the shares available from Microsoft, or any other company and put them together, that is called Microsoft's market capitalization. This is figured by multiplying the current price of a stock times the number of shares.

Stock falls into four major categories. There is common stock, preferred stock, dual class stock and treasury stock. Common stock is, just like the name says, the most common kind of stock available. Ownership of common shares usually comes with some voting rights when it comes to decisions made by the corporation. Preferred stock is different from common stock in the sense that they usually get paid more dividends and usually come with extra rights and decision making abilities for the company they are for. Dual Class stock is a combination of the previous two kinds of stock and the rights attached to each share vary. Finally, treasury stock are shares that were once issued to the public, but have since been bought back by the company.

The history of stocks goes back many hundred years to the Dutch East India Company, who began offering shares of their stock as far back as 1602. The East India Company helped to pioneer the idea of joint ownership and helped the economic growth in Europe at that time.

The most popular place to trade stocks in the United States is, of course, the New York Stock Exchange, where millions of shares change hands on a daily basis.

The world of economics and stock trading can be very exciting and very profitable for those that know the ins and outs. Hopefully, this article helped shed some light on what stocks are and how they are used by companies.