Commercial Secured Loans – Ideal finance for your business | UHY Dawgen Chartered Accountants Blog

Commercial Secured Loans – Ideal finance for your business | UHY Dawgen Chartered Accountants Blo0g

A perfect combination of discipline, hard work and proper training can take your business to new heights helping you in accomplishing the desired success. Discipline is needed in every area in an organisation ranging from managing the employees, maintaining the environment of the organization, coordinating the work in the organisation or thefinance.

Maintaining discipline in the field of finance is the primary function of every businessman. It is truly said that money moves the world around. And the same applies to the world of business. Every business needs adequate finance for its smoother running and managing it is a tough task. Need for funds may arise anytime in a business, in such circumstances, commercial secured loans can be the best source of finance for the Jamaican business.

Commercial secured loans as the name indicate are tailored for businessmen who need funds for commercial purpose. These loans are very flexible and come in variety of structure to meet the diverse needs of the Jamaican businesses.

An important feature of commercial secured loans is that the borrower needs to put a security against the loan. Any of these – commercial property, equipments, invoices or order books can work as collateral against the loan.

Big as well as small business projects can be financed with commercial secured loan. These loans are multi-purpose loan and can be put to diverse uses namely the purchase of business premises, expansion, residential and commercial investment or property development and for many other commercial purposes.

Commercial secured loans provide affordable and effective solution to access the required capital. Loan terms attached with commercial secured loans are usually longer ranging from 10 to 30 years. Borrowers with commercial secured loans get an opportunity to withdraw an amount ranging from $75,000 to $35 million depending on your business trading history, borrower’s Credit rating, industry type and the collateral kept as a security against the loan. Some lenders can also provide you the loan of even a higher amount if they find your financial status worth.

Accountants & Auditors in Kingston , Jamaica

UHY Dawgen Chartered Accountants  is a professional service firm providing audit, accounting, tax and business advisory services in Jamaica .We share our clients’ aspirations and staff are approachable and down-to-earth individuals, delivering customised, innovative and practical solutions to help you make the right business decisions.

Services and client teams are tailored to suit the culture of each client including publicly listed corporations, large and medium-sized companies, privately owned businesses, not-for-profit and public organisations.

Our firm offers specialist sector and country knowledge tohigh quality professional standards. Our commitment to quality is one of UHY Dawgen’s main values – because it is so important to us, we strive to achieve this in everything we do.

UHY Dawgen has the depth and breadth to help your business compete effectively and successfully locally, internationally or cross-border. Our drive for professionalism, quality, integrity and innovation combined with global reach has realised substantial growth for clients since 2002.

UHY Dawgen offers an exceptional competitive advantage – national capabilities enhanced by global resources and attentive personal service. Our people pride themselves on their ability to combine local knowledge with regional, national and international skill sets.

We provide ongoing cross-border assistance through our cohesive international network, UHY international.  With over 240 offices in every major financial centre around the world, we can introduce you to commercially focused audit, accounting and tax professionals who can provide ongoing advisory services to your new overseas operation.

Our Membership in UHY allows us to share experiences and know-how with more than 7,000 professionals in the world, to organize multidisciplinary work teams for transnational operations . The UHY network ensures that wherever you are and whatever the business you want to do UHY Dawgen will be able to help you achieve your business objective effectively.

Our network of  Jamaica offices (Kingston, Ocho Rios, Montego Bay and Mandeville) ensures that we can provide a local service backed by the expertise of a major national practice.

Our Offices in Kingston are located at :

Head Office:Unit 34,Winchester Business Centre

15 Hope Road, Kingston 10

Tel:876-9084007/7542074/9064827

Fax:876-7540380

International No.USA:937-7-DAWGEN (937-7-329436)

Branch Offices:

Kingston:

Oxford House, 2nd Floor ,6 Oxford Road,Kingston 6

Telephone:876-9263562-4 Fax:876-9291300

Accountants & Auditors in St. Ann, Jamaica

UHY Dawgen Chartered Accountants  is a professional service firm providing audit, accounting, tax and business advisory services in Jamaica .We share our clients’ aspirations and staff are approachable and down-to-earth individuals, delivering customised, innovative and practical solutions to help you make the right business decisions.

Services and client teams are tailored to suit the culture of each client including publicly listed corporations, large and medium-sized companies, privately owned businesses, not-for-profit and public organisations.

Our firm offers specialist sector and country knowledge tohigh quality professional standards. Our commitment to quality is one of UHY Dawgen’s main values – because it is so important to us, we strive to achieve this in everything we do.

UHY Dawgen has the depth and breadth to help your business compete effectively and successfully locally, internationally or cross-border. Our drive for professionalism, quality, integrity and innovation combined with global reach has realised substantial growth for clients since 2002.

UHY Dawgen offers an exceptional competitive advantage – national capabilities enhanced by global resources and attentive personal service. Our people pride themselves on their ability to combine local knowledge with regional, national and international skill sets.

We provide ongoing cross-border assistance through our cohesive international network, UHY international.  With over 240 offices in every major financial centre around the world, we can introduce you to commercially focused audit, accounting and tax professionals who can provide ongoing advisory services to your new overseas operation.

Our Membership in UHY allows us to share experiences and know-how with more than 7,000 professionals in the world, to organize multidisciplinary work teams for transnational operations . The UHY network ensures that wherever you are and whatever the business you want to do UHY Dawgen will be able to help you achieve your business objective effectively.

Our network of  Jamaica offices (Kingston, Ocho Rios, Montego Bay and Mandeville) ensures that we can provide a local service backed by the expertise of a major national practice.
Our Office in St. Ann is located at:

Ocho Rios-101B Main Street, St. Ann

Telephone: 974-5373/9748772 Fax:876-7540380

Accountants & Auditors in Mandeville , Jamaica

UHY Dawgen Chartered Accountants  is a professional service firm providing audit, accounting, tax and business advisory services in Jamaica .We share our clients’ aspirations and staff are approachable and down-to-earth individuals, delivering customised, innovative and practical solutions to help you make the right business decisions.

Services and client teams are tailored to suit the culture of each client including publicly listed corporations, large and medium-sized companies, privately owned businesses, not-for-profit and public organisations.

Our firm offers specialist sector and country knowledge tohigh quality professional standards. Our commitment to quality is one of UHY Dawgen’s main values – because it is so important to us, we strive to achieve this in everything we do.

UHY Dawgen has the depth and breadth to help your business compete effectively and successfully locally, internationally or cross-border. Our drive for professionalism, quality, integrity and innovation combined with global reach has realised substantial growth for clients since 2002.

UHY Dawgen offers an exceptional competitive advantage – national capabilities enhanced by global resources and attentive personal service. Our people pride themselves on their ability to combine local knowledge with regional, national and international skill sets.
We provide ongoing cross-border assistance through our cohesive international network, UHY international.  With over 240 offices in every major financial centre around the world, we can introduce you to commercially focused audit, accounting and tax professionals who can provide ongoing advisory services to your new overseas operation.

Our Membership in UHY allows us to share experiences and know-how with more than 7,000 professionals in the world, to organize multidisciplinary work teams for transnational operations . The UHY network ensures that wherever you are and whatever the business you want to do UHY Dawgen will be able to help you achieve your business objective effectively. 

Our network of  Jamaica offices (Kingston, Ocho Rios, Montego Bay and Mandeville) ensures that we can provide a local service backed by the expertise of a major national practice.

Our Office in Mandeville is located at:

Mandeville-Shop 2B, Caledonia Mall,Calendonia Road, Manchester

Telephone: 962-6369 Fax: 754-0380 

Accountants & Auditors in Montego Bay, Jamaica

UHY Dawgen Chartered Accountants  is a professional service firm providing audit, accounting, tax and business advisory services in Jamaica .We share our clients’ aspirations and staff are approachable and down-to-earth individuals, delivering customised, innovative and practical solutions to help you make the right business decisions.

Services and client teams are tailored to suit the culture of each client including publicly listed corporations, large and medium-sized companies, privately owned businesses, not-for-profit and public organisations.

Our firm offers specialist sector and country knowledge tohigh quality professional standards. Our commitment to quality is one of UHY Dawgen’s main values – because it is so important to us, we strive to achieve this in everything we do.
UHY Dawgen has the depth and breadth to help your business compete effectively and successfully locally, internationally or cross-border. Our drive for professionalism, quality, integrity and innovation combined with global reach has realised substantial growth for clients since 2002.

UHY Dawgen offers an exceptional competitive advantage – national capabilities enhanced by global resources and attentive personal service. Our people pride themselves on their ability to combine local knowledge with regional, national and international skill sets.

We provide ongoing cross-border assistance through our cohesive international network, UHY international.  With over 240 offices in every major financial centre around the world, we can introduce you to commercially focused audit, accounting and tax professionals who can provide ongoing advisory services to your new overseas operation.

Our Membership in UHY allows us to share experiences and know-how with more than 7,000 professionals in the world, to organize multidisciplinary work teams for transnational operations . The UHY network ensures that wherever you are and whatever the business you want to do UHY Dawgen will be able to help you achieve your business objective effectively.

Our network of  Jamaica offices (Kingston, Ocho Rios, Montego Bay and Mandeville) ensures that we can provide a local service backed by the expertise of a major national practice. 
Our Montego Bay Office is located at:

Montego Bay-Shop EU 6, Whitter Village,Ironshore, St. James

Telephone: 876-9533793/953-8486 Fax: 953-3058

Abertis now actively seeking to sell MBJ - Business - JamaicaObserver.com

Abertis now actively seeking to sell MBJ - Business - JamaicaObserver.com:

ABERTIS, the Spanish-based majority partner that manages the Sangster International Airport (SIA) in Montego Bay, indicated on Tuesday that it is now 'actively' searching for a buyer.

The statement puts more urgency on the sale of the assets which was initially announced last year.

"Lastly, regarding the other assets that to date have not been disposed of (primarily, MBJ Airports of the share capital of which is held by Abertis Airports), Abertis is continuing to work actively to complete its divestment in the airport business," stated the annual report released March 24.

Abertis operates the airport through MBJ Airports which controls 75 per cent and the remainder is held by a Canadian-based entity.

The disposal of the assets is not expected to have a significant impact on Abertis financials, stated the report. The local airport, the busiest in the island, earned Abertis some 9.5 million euros in profit for its December year end. It also has 56.7 million euros as reserves after deducting interim dividends, according to the financials.

It remains one of the final airports set for divestment, as Abertis aims to focus more on its core toll road activity.

Last December an Abertis subsidiary completed the sale of its entire 33.33 per cent interest in Aeropuertos Mexicanos del Pacialfico (AMP).

SIA was divested over a decade ago by the Government. Abertis was not part of the original team that won the 2003 concession. It entered in 2007 after acquiring the interests of three of the four partners that had secured the lease agreement, with only Canadian outfit Vancouver Airport Services remaining as an original investor.

Abertis Airports once managed 30 airports in nine countries, handling roughly 87 million in passenger traffic each year. It owns 74.5 per cent of MBJ Airports Ltd, under a 35-year concession agreement for the development, maintenance and operation of SIA.

The concession would naturally end in "April 2033", according to Abertis financials.

The Government expects to divest Norman Manley International Airport, the island's Kingston-based publicly owned airport, in short order.

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Proven to acquire another financial entity - Business - JamaicaObserver.com

Proven to acquire another financial entity - Business - JamaicaObserver.com:

The fast-growing financial outfit Proven Investments Ltd will seek to acquire yet another sizable financial sector entity funded from its ensuing US$20 million ($2.2 b) rights issue, the Jamaica Observer understands.

Proven's management, however, declined to discuss acquisition strategies.

"I do not want to comment on any specific acquisition plans. But we remain humbled by the success of this five-year-old operation at Proven and we work 24/7 to seek out investment opportunities," stated Chris Williams, chief executive officer at Proven, in a Business Observer interview. "We would like to get as much support as possible for the issue."

However, two separate sources with whom the Observer spoke indicated that Proven aims to use the funds from its ongoing rights issue to acquire the entity.

"The Proven rights issue is geared at a specific acquisition, hence the size of the issue," stated one source which chose to remain anonymous in order to respect protocol. "It's in the financial services sector. But I cannot say more at this time."

Proven aims to raise just under US$20 million in its third rights issue following two earlier issues each at US$10 million each. It also raised US$20 million some five years ago in a private placement which preceded its listing by introduction in 2011. The rights issue opened on March 24 and closes on April 2nd.

"Proven investments Limited is seeking to raise US$19.7 million by offering to its shareholders... the right to participate in a rights issue of one share for every block of three ordinary shares," stated the Proven prospectus about the subscription which offers shares at US$0.16/J$18.50 each.

The company will issue 122.8 million shares from the offer and currently holds 368 million existing ordinary shares. The official use of the proceeds according to the prospectus includes building the company's capital base.

"The company intends to use the capital raised to pursue expansion and acquisition opportunities," added the prospectus.

Proven Investments capital stands at US$33 million. It made US$1.1 million net profit for its December third quarter 2014 or 62 per cent more profit year on year. The company's return on equity stands at 10.9 per cent on an annualised basis.

Last December Proven announced that it became the largest shareholder in microlender Access Financial Services Ltd through its 49 per cent acquisition for $1.2 billion, after the shares were offloaded by Mayberry Investments and other shareholders. Last November, Proven increased its shareholding to 20 per cent in Knutsford Express which operates a cross-country bus service. In July that same year, Proven announced that it acquired First Global Financial Services for roughly $3 billion. It also acquired AMCL -- a microlending firm previously owned by Scotiabank in January 2012. Proven acquired Guardian Asset Management in 2010 and renamed it Proven Wealth Ltd.

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Alpart resumes bauxite mining - Latest News - JamaicaObserver.com

Alpart resumes bauxite mining - Latest News - JamaicaObserver.com: " Prime Minister Portia Simpson Miller announced a short while ago that the Russian company UC RUSAL yesterday commenced the mining and processing of bauxite at the Alpart refinery at Nain in St Elizabeth.

So far, the company has employed some 40 people and it has given its commitment to employ another 70 people by the end of April, the prime minister said."



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The Dawgen Daily

The road to success is not straight. There is a curb called Failure, a loop called Confusion; speed bumps called Friends; red lights called Enemies;caution lights called Family. You will have flats called jobs. But, if you have a spare called Determination; an engine called Perseverance; insurance called Faith, and a driver called Crowe , you will make it to a place called Success!!

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Budget Debate: Phillips stresses growth, $90b capital programme | Business | Jamaica Gleaner

Budget Debate: Phillips stresses growth, $90b capital programme | Business | Jamaica Gleaner:

Finance Minister Dr Peter Phillips said projections for baseline growth for the Jamaican economy in the upcoming fiscal year will be 1.6 per cent, driven in part by critical strategic investment projects, among other initiatives.

Capital expenditure by the State, he said during the opening of the Budget Debate, will include $30.5 billion from central government and another $59 billion by self-financing public bodies, including the National Housing Trust, the Urban Development Corporation, the National Water Commission, Port Authority of Jamaica and the Jamaica Civil Aviation Authority.

"The fourth plank of the growth agenda are the investments in strategic projects that can act as catalysts to accelerate the growth momentum, expand employment and enhance, in the near term, the productive capacity of the country," Phillips told lawmakers, as he outlined capital expenditure plans.

Phillips said that notwithstanding the challenging fiscal environment since 2012-13, resources will be provided to facilitate completion of several major infrastructure projects, including the Kingston Metropolitan Area drainage project, the Palisadoes Shoreline and Road Project, the Transport Improvement Road Project and the North Coast Highway Project.

During FY 2015-16, he said the fiscal space will be provided to ensure implementation of projects, including new buses acquired for the JUTC; money to carry out works on select roadways and bridges, schools and other targeted development initiatives.

"The critical planks of the strategic growth agenda which we are currently pursuing may be summed up as follows: First of all, fiscal consolidation, which centres upon the reduction of the deficit and the debt; tax-reform efforts to increase investment activity; public-sector transformation; control of inflation and financial sector stability," the minister stated.

He said that the drive for growth will also involve reforms and improvements to the business environment to improve competitiveness, noting that while substantial gains have been made as reflected in the Competitiveness and Doing Business surveys, "this is still a work in progress".

Left to be completed, he said, was "reform of the financial sector and secure, sustained downward movement in lending rates, even as we broaden access to financing for business start-ups and establish venture capital funding".

Phillips hinted that those who were pressing for high growth levels within a short period were unrealistic, considering the island's structural challenges and long history of low and no growth.

"In considering the issue of growth, it is important for me to emphasise that the problem does not relate to a short-term fix of essentially cyclical conditions.

"The fact is that we do not have an already-existing productive capacity, such that all we would need to correct for are the effects of a short-term contraction in the market by spending more money to increase demand. On the contrary, Jamaica's experience of low growth has existed for a long time. Over the past four decades, growth has averaged less than one per cent per annum," he said.

Economic growth, Phillips said, involved a longer-term outlook, while noting that the current programme of fiscal consolidation will continue. The programme is centred on the reduction of the deficit and debt; tax-reform efforts to increase investment activity; public-sector transformation; control of inflation and financial sector stability.

Growth, he added, will also involve continued reduction in the price of electricity for the productive sector.

avia.collinder@gleanerjm.com

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First Global goes after SME borrowers, willing to overlook accounts | Business | Jamaica Gleaner

First Global goes after SME borrowers, willing to overlook accounts | Business | Jamaica Gleaner:

First Global Bank (FGB) Limited has set up a commercial unit to deal exclusively with the financing needs of small businesses.

The bank is targeting the information technology, agro-processing, tourism and energy firms, but Assistant Manager for Credit Deidre O'Connor-Heron says First Global is also open to funding projects in any industry.

First Global is the latest commercial bank to take more specific aim at the SME sector and is doing so at a time when lending to large firms is falling, while small and micro borrowing continues to show vibrancy.

In the last quarter surveyed by the central bank, small business borrowing represented 37 per cent of all loans in the period ending September 2014, up from 28 per cent in the June quarter.

First Global Bank manages a loan portfolio of $16 billion amid total assets of $40 billion at September 2014, according to industry data on commercial banks. The bank, which is a subsidiary of conglomerate GraceKennedy Limited, is No. 5 of six commercial banks, with just four per cent of a loan market that was last valued at $367 billion.

First Global has been advertising its new loans for small businesses, noting that it will not demand audited statements as a condition for considering loans.

O'Connor-Heron stated that the bank's new targets are those businesses with six to 20 employees and annual turnover of $10 million to $50 million.

For this segment, she said, First Global's rivals not only include other commercial banks, but also credit unions and other lending agencies. Loan rates will "depend on the risk associated with the lending as well as the adequacy of the collateral provided", but will be competitive, she added.

First Global plans to make inroads, the officer indicated, through the technology for which the bank is widely known, "specifically our groundbreaking online banking solution, Global Access, which allows our clients to transfer funds to any account housed in any bank, locally and internationally," she said.

O'Connor-Heron also said the bank is developing products specifically positioned to meet the needs of the segment. She did not specify what these were.

"FGB recognises and appreciates the challenges faced by SMEs and, as a consequence, we have taken the decision to find ways to meet them at their point of need through operating flexibly, given the significance of this sector," the spokeswoman said.

The non-requirement of audited financial statements is one such measure, though O'Connor-Heron also indicated that the bank will encourage loan prospects to progress to better accounting practices.

"We acknowledge the importance of information, which includes the audited financial statements, to the SME for growth and development and, hence, always encourage them to become compliant within 12 months," she said.

Commenting on the risk posed by First Global's approach to the SME market, O'Connor-Heron said "risk is inherent in any business transaction" but added that the bank's "credit risk assessment is and will remain robust to identify key risks in lending to this segment and will seek to mitigate appropriately".

The bank will accept both traditional and non-traditional assets as collateral for loans, she added, while noting that the bank was weighing the potential within the new National Security Interest in Personal Property (NSIPP) registry.

"We are currently exploring all the opportunities that SIPP offers and this has afforded us the ability to consider non-traditional assets," she said.

avia.collinder@gleanerjm.com

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Big interest in Petcom - Business - JamaicaObserver.com

Big interest in Petcom - Business - JamaicaObserver.com:

AT least 15 companies have already expressed interest in acquiring the Petroleum Company of Jamaica Limited (Petcom), a highly placed industry source told the Jamaica Observer yesterday.

"It involves all the multinationals operating in Jamaica and some local interests," the source said, adding that "a formal request for proposal should be going out about the end of this month".

The matter, the source said, is expected to go before the Cabinet next Monday.

The Government had, at the start of the 2013/14 fiscal year, declared its intention to divest Petcom and appointed an enterprise team to manage the process.

The decision, our source said, was taken after the Government received an unsolicited offer from a major petroleum marketing company in this region.

"It was felt that it was the kind of State asset that would fit within a normal privatisation strategy, so the decision was taken that since there was interest, let's put it to the market," the source said.

The company, a wholly owned subsidiary of the Petroleum Corporation of Jamaica, was incorporated in 1973 to market petroleum products, industrial fuels and lubricants. Information from the company said it became active in 1984 with its first sale of solvents, and confirmation of a contract to supply fuel to Caribbean Cement Company.

The company said that in 1986 it started aggressive marketing of its products as it "sought new opportunities for supplying petroleum products and lubricants to the transportation sector, LPG (Liquefied Petroleum Gas) to the domestic and industrial markets, and asphalt, heavy fuel and diesel oils to the industrial sector".

In 1989, the company opened its first service station in Portmore. Today, it operates 28 stations across the island and provides LPG from 14 filling plants.

In its 2014 annual report, Petcom declared total revenues of $10.6 billion which, it said, was a 3.7 per cent decline on the previous year.

"Revenues were mainly affected by the intensity of the competition within the trade area. In addition, some of our service stations underperformed while others were non-operational during the period," the company said.

Yesterday, one industry analyst described Petcom as "a good investment" and suggested that any company that was successful in purchasing the business would not regret it.

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Six investor groups bid to run NMIA - Business - JamaicaObserver.com

Six investor groups bid to run NMIA - Business - JamaicaObserver.com:

SIX investor groups are seeking to win the bid to operate the Norman Manley International Airport (NMIA) amid plans by the state to spend nearly $1 billion to upgrade the airport this year.

"Work is moving apace for the identification of a public-private partnership concessionaire for the NMIA. Currently the pre-qualification of bidders is underway and submissions have been received from six potential investor groups," stated the Jamaica Public Bodies for the year ending March 2016 published by the Ministry of Finance and Planning.

The Government of Jamaica expects to conclude the process and name a concessionaire for the operation and management of the NMIA by "March 2016".

Currently the airport is managed and operated by the statutory body, the Airport Authority of Jamaica (AAJ). During fiscal year 2015/16 the AAJ plans to spend $973 million on capital development for the airport or three-quarters higher than a year earlier. It forms part of phase 1B of the 20-year capital development programme.

The call for an NMIA concessionaire comes at a time when the airport's profit is set to rise based on a rate increase, effective this calendar year.

"Targeted activities and the implementation of an increase in aeronautical rates are expected to impact favourably on AAJ's financial performance, resulting in a net surplus of $1.8 billion from $952.7 million a year earlier," stated the public bodies document.

Prior to the increase, NMIA stated that it operated at one of the lowest earning margins (at 18 per cent) when compared to a sample of 80 airports globally.

Last year, the 'NMIA Public-Private Partnership' published an invitation seeking to shortlist private-sector entities with proven experience in the aviation sector to operate, finance, develop and maintain the NMIA. It means that the State will relinquish its responsibility to upgrade the facilities for 25 years.

The NMIA in Kingston is the second largest of three international airports in Jamaica. Investors aiming to acquire the NMIA are required to spend a total of US$134 million on capital investments, led by a US$76 million runway upgrade, according to the previously released NMIA Kingston Information Memorandum.

The 2.7-kilometre runway will see an additional 500 metres of length with an even longer section for a runway end safety area. Debate on the length of the runway surfaced following an incident in December 2009 when American Airlines flight 331 overshot the runway. None of the 148 passengers or crew members were killed. The Boeing 737 jet skidded off the runway during rainy weather, broke through the perimeter fence, and stopped on the beach across from the road leading to Port Royal. The aircraft broke in three places.

Total passengers are estimated at some 1.37 million at NMIA in 2014 with expectations that the number will increase to 2.1 million at the end of the concession.

-- Steven Jackson

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The Five Factors for Building Successful Product |

The Five Factors for Building Successful Product | 

Private Client Services |Personal tax planning

Private Client Services | UHY Dawgen Chartered Accountants:

Personal tax planning and wealth management are increasingly complex areas where expert advice can deliver significant long-term benefits for you and your family.

Our focus on open and trusting relationships means many individuals, owner-managers, directors and senior executives rely on our member firms to help protect their personal wealth and plan their financial future.

Specialist teams with UHY Dawgen provide a bespoke service covering all aspects of personal tax, wealth management and estate planning.

Achieving long-term financial goals

Regular financial reviews monitor progress against long term financial goals, ensure tax liabilities are minimised..

UHY Dawgen work with a significant number of family-owned businesses, often through successive generations, and have in-depth experience of the issues and difficulties than can arise with areas such as succession planning.

Many owner-managers are assisted with their forward planning for eventual sale of or handover of their businesses as they near retirement.

Inheritance tax planning and on options, including lifetime gifts and trusts to minimise tax liabilities for beneficiaries, are also provided.

Minimising tax exposure

In addition, we are well-placed to provide expert advice on expatriate tax issues for executives and employees being transferred or simply working outside of their home country.

Areas of expertise within UHY Dawgen include structuring of offshore assets and remuneration packages along with the protection of foreign assets from inheritance tax.

We can also advise on the reporting requirements for holdings in investments held outside of home countries.

Private client services provided by UHY Dawgen include:

• Regular financial reviews
• Advice on tax efficient investments and pensions
• Income tax and capital gains tax planning
• Partnerships tax advice and compliance
• Advice on tax efficient use of trusts.
• Inheritance Tax Planning
• Succession planning in family businesses
• International tax planning for those with domicile or non-domicile status
• 
  

The Five Factors for Building Successful Product | UHY Dawgen Chartered Accountants Blog

dawgenvba.com

The Five Factors for Building Successful Product | UHY Dawgen Chartered Accountants Blog:

Look around you and you will see a number of successful products. An iPod, a Sony Vaio laptop, Colgate toothpaste, Coca Cola, Parker pens…the average consumer will use hundreds of branded products in his lifetime. What is it that you like about your possessions? You like your Whirlpool washing machine and the Xerox copier because they work well and just go on and on without breaking down. You adore your Volkswagen Beetle for its sleek looks. And you can’t do without
Kellogg’s for breakfast.

Here then, are the 5 vital factors needed for a successful product:
1. Create something that people want
2. Design and build it with high quality
3. Price it right
4. Keep the investment low
5. Backup with after sales service.

Gianfranco Zaccai, of the design group Continuum that developed the Adidas intelligent shoe, says a hit product should be “technologically possibly to produce, delight the consumer and be profitable”.

You must research the market well and listen to what people are asking for. Your product must have an USP – Unique Selling Proposition. Just as Olay stood for ‘younger looking skin’ and Domino’s
Pizza vouched for delivery in ‘30 minutes or it’s free’, your product also has to send a clear message.

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Jamaican Entrepreneurs now have access to Virtual Business Advisor | UHY Dawgen Chartered Accountants Blog

Jamaican Entrepreneurs now have access to Virtual Business Advisor | UHY Dawgen Chartered Accountants Blog

UHY Dawgen launches Virtual Business Advisor. The Virtual Business Advisor is designed to assist and guide Entrepreneurs along a pathway to business excellence.

This quick and simple online self-assessment designed to assist and guide you along a path to business excellence, no matter the stage of business you are in.

The Virtual Business Advisor can be access by visiting www.dawgenvba.com

Start-up Jamaica to pick up steam | News | Jamaica Gleaner

Start-up Jamaica to pick up steam | News | Jamaica Gleaner: "Jamaica's push to create a local animation industry is to receive a major push under the Youth Employment in Digital and Creative Industries project, which has been allocated $70 million in the 2015/2016 Estimates of Expenditure.

Some 190 computers and 385 tablets are to be published under the project, which is funded by the World Bank, which has funded US$20 million towards the project.

The equipment will be given to persons who are in the business incubator.

In addition to the computers and tablets, 335 2D software licenses and 40 software upgrades for animation labs are to be procured at a cost of $24.6 million."

The Youth Employment in Digital and Creative Industries is being implemented through the Ministry of Science, Technology, Energy and Mining, and seeks to foster youth entrepreneurship in the digital animation industries and develop the animation industry in Jamaica.

This year, $11.5 million is to be spent procuring services for animation-training programmes and development of Digital Jamaica and KingstOOn yearly events.

Phillip Paulwell, who has ministerial carriage for the project, told The Gleaner that Cabinet has given approval for Start-Up Jamaica to be established as a business, adding that it has real earning potential.

Business Training

Start-Up Jamaica is an accelerator that will house start-up companies and provide them with the key skills and technology, business, management, legal and accounting support that will prepare them to pitch to equity investors and receive investments to grow their businesses.

"Over time, we want to train 15,000 youngsters in animation," the minister said, adding that "it has received significant support internationally".

Only $5 million was allocated to the project for the current fiscal year, but with it set to expire in August 2019, Paulwell said more and more money will be allocated going forward.

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UHY Dawgen launches Virtual Business Advisor

UHY Dawgen launches Virtual Business Advisor. The Virtual Business Advisor is designed to assist and guide Entrepreneurs along a pathway to business excellence.

This quick and simple online self-assessment designed to assist and guide you along a path to business excellence, no matter the stage of business you are in.

 The Dawgen Virtual Business Advisor (DVBA) has four (4) modules as follows:

·         Entrepreneur Ready 

·         Business Ready 

·         Business Fitness

·         Fit for Finance

  

Here's how it works:

      Determine your business stage

      Complete a 10-minute assessment

      Receive a detailed and customized report

After you complete the assessment, a report will be emailed with feedback, advice, and specific suggestions and links to low and no-cost resources. This report will help you plan your next steps towards becoming a successful business owner.

Entrepreneurs who requires assistance with the implementation of the recommendations will be able to engage UHY Dawgen Team of Business Consultants. The can also join our Business Coaching program.  

The Virtual Business Advisor can be access by visiting www.dawgenvba.com

UHY Dawgen  is a member of UHY. UHY is an international network of independent member firms providing audit, accounting, tax and business advisory services across the globe.

Our services in Jamaica is delivered from 4 strategic locations (Kingston, Montego Bay, Ocho Rios and Mandevlle)

Trouble in Paradise: Inside Canadian banks’ billion-dollar Caribbean struggle - The Globe and Mail

Trouble in Paradise: Inside Canadian banks’ billion-dollar Caribbean struggle - The Globe and Mail: "They arrived in droves starting at 5:30 a.m., desperate to secure a steady pay cheque. By midmorning, the anxious mob totalled 5,000 people.

Sandals, a Caribbean hotel chain, was hosting a job fair in Barbados to hire staff for a brand new resort. Because thousands of people showed up for 600 jobs on the October morning last year, scores of applicants were forced to wait outside under the blistering sun. Things went from testy to unruly as the temperature neared 32 degrees; Sandals had no choice but to call the cops."

'via Blog this'