Does high revenue mean more profit? Not necessarily. A company could experience a spike in revenue, yet see a decline in profits. Let’s get it right once and for once: a company might witness a rising revenue, but declining profits. How increasing revenue and declining profits happen We already spelt out distinctions between revenue and … Read more
Understanding the difference between revenue and profits is a very important aspect of business management and financing an entrepreneur needs to know. This article aims to explain the complex dynamics between revenue and profits and their significance in the day-to-day activities of a business. It provides a comprehensive overview of how they are calculated, and … Read more
When you hear central bank, the first thing that comes to mind is a country’s apex financial institution, that is, the bank that controls the monetary activities and the activities of banks in a country. But the advent of cryptocurrencies like Bitcoin, Ethereum, and other altcoins had pushed the responsibilities of the central bank beyond … Read more
Investing and saving are crucial components of building a strong financial future. Many people often confuse these terms or fail to understand their differences. In this blog post, we will explore the concepts of investing and saving, their significance, and the key distinctions between the two. What is Saving? Saving refers to setting aside a … Read more
Imagine you have a son named Johnson who is just 4 years old and you want to start saving money for his future college education. That’s where a 529 Plan comes in. What is 529 Plan? 529 plan is a ‘start-early’ type of savings investment account that is specifically designed to be used for college … Read more
Nigeria’s apex bank released its Customer Due Diligence Regulations 2023 on Friday night, June 23, 2023. The regulations specifically upgraded Know Your Customer(KYC) as one of the measures to drastically reduce financial crimes and bolster anti-money laundering and counter-terrorism financing provisions to align with international best practices. What do Customer Due Diligence Regulations 2023 mean … Read more
Everyone dreams of living a comfortable life; it requires adequate planning and deploying the best strategies to bring such dreams to fulfilment. The same is applicable to a person who plans to retire early and save for their child’s college fund. Savings for retirement, paying off housing loans, and savings for your kid’s education are … Read more
New Brunswick, known for its stunning natural beauty and diverse economy, is home to many businesses and individuals looking for a smart, cost-effective, and durable building solution. Traditional construction methods can be challenging and time-consuming, with harsh winters, high winds, and occasional flooding. Enter prefabricated steel buildings New Brunswick – the ideal solution for those looking … Read more
Facility management can help energy conservation by implementing energy-efficient strategies and practices, monitoring energy consumption, and promoting awareness and education among building occupants. Energy management is now one of the most critical yet important aspects of business today. It not only reduces your carbon footprint but also saves your company money. Energy-efficient lighting and HVAC equipment, … Read more
Quantity takeoff is a crucial process in construction cost estimation, which involves calculating the materials required for a project. This process helps project managers and contractors determine the construction cost accurately and efficiently. To simplify construction cost estimation, quantity takeoff is essential because it provides a detailed list of materials and their respective quantities. This … Read more
Nowadays, the need for transparency and standardized identification of entities is more important than ever. Consequently, Legal Entity Identifiers have emerged as a critical tool to facilitate efficient communication and reporting in the financial sector. This article will provide a comprehensive guide to understanding LEIs, their importance, and how they are used. Moreover, service providers … Read more
If you’re a small business owner, you’ve likely tried to get a loan before and been turned down because of your credit score. But there are new innovative ways to find loans that help even people with low credit scores access capital — and they’re all thanks to fintech! The fintech industry has made huge … Read more
Having explicitly dealt with what Sharia banking entails in our previous article, it becomes imperative to know the line of divides between conventional banking and Islamic banking. It’s important to note that the word ‘sharia’ in this context doesn’t mean ‘only Muslim. We pointed out that Sharia banking is designed to accommodate Christians and Muslim and everyone irrespective … Read more
In operations and principles, an Islamic bank (Non-Interest Bank) or NIB is completely different from Interest Banking System. And to answer the question, Non-Interest Banking generally doesn’t provide cash loans to its customers whether Muslim or Christian or regardless of their religious beliefs, yet Islamic banking is beneficial to small businesses in many ways. Note: … Read more
TransUnion CIBIL, or the Credit Information Bureau of India Limited, is an important organization that plays a role in determining a person’s creditworthiness when they apply for a loan or credit card. A high CIBIL score increases the likelihood of approval, while a low score makes it more difficult to secure credit. One factor that … Read more