There are many things that seniors enjoy. They often enjoy the benefits of their life long work. They also enjoy their independence. As they age, many of their loved ones worry about their ability to stay in their home alone. Rather than give up their independence, they will investigate the options of home health care to satisfy their concerns.As seniors advance in age, they can sometimes experience age related issues. Sometimes they aren’t able to do things they used to because they don’t have the energy to do them. Families don’t like seeing their loved ones lose the ability to do things and it makes them wonder if they are able to care for themselves in a sufficient manner. Instead of seniors bowing to pressure and moving into a nursing home, they find an agency that specializes in home health care and continue to live in their home.When seniors look to find a home health care agency, they find there are many agencies that can help them. These agencies have many different services available to for them to choose from. When seniors are ready to decide, they normally will make an appointment to speak with a representative that can guide them through the process.As the agency representative meets with their prospective client, they listen to the things that are being said. It is important for them to get a clear understanding of what the client needs. When seniors are looking for a home health care professional, not only are they answering questions, they are asking many questions so they can get an understanding of the programs and benefits.Seniors are normally very honest in the things they need help with. They want to continue to live independently and to have a home health care professional work with them will ensure they are able to do so for as long as possible. These seniors have to consider many different things before they start the service.Some seniors are in very good health. They are able to live independently and care for themselves very well. They sometimes have trouble doing certain things around their home because of their age but they can still manage their household. For seniors in this situation, having a home health care professional visit once a week may be ideal. They can help with errands that need to be run, correspondence or just to check their health. Seniors enjoy the help and they don’t feel they are being intruded upon.There are other seniors that need more help from their home health care professional. Some seniors unfortunately have different medical or age related problems that interfere in their ability to care for themselves. Families worry and try to help them as much as possible but sometimes it’s not enough. For seniors in this position, they need a home health care professional to visit daily, helping with basic household chores and ensuring they are in good health. Many home care professionals also assist their clients with basic life skill activities such as bathing, brushing their teeth or even cooking.Once seniors have decided the amount of help they need, the make arrangements with the home health care agency of their choice. These agencies are familiar with the struggles many seniors face and strive to ensure they are able to continue enjoying life and good health. Their families are relieved that their loved ones are able to continue their independence but allowing a medical professional to help.
Alternative Financing Vs. Venture Capital: Which Option Is Best for Boosting Working Capital?
There are several potential financing options available to cash-strapped businesses that need a healthy dose of working capital. A bank loan or line of credit is often the first option that owners think of – and for businesses that qualify, this may be the best option.
In today’s uncertain business, economic and regulatory environment, qualifying for a bank loan can be difficult – especially for start-up companies and those that have experienced any type of financial difficulty. Sometimes, owners of businesses that don’t qualify for a bank loan decide that seeking venture capital or bringing on equity investors are other viable options.
But are they really? While there are some potential benefits to bringing venture capital and so-called “angel” investors into your business, there are drawbacks as well. Unfortunately, owners sometimes don’t think about these drawbacks until the ink has dried on a contract with a venture capitalist or angel investor – and it’s too late to back out of the deal.
Different Types of Financing
One problem with bringing in equity investors to help provide a working capital boost is that working capital and equity are really two different types of financing.
Working capital – or the money that is used to pay business expenses incurred during the time lag until cash from sales (or accounts receivable) is collected – is short-term in nature, so it should be financed via a short-term financing tool. Equity, however, should generally be used to finance rapid growth, business expansion, acquisitions or the purchase of long-term assets, which are defined as assets that are repaid over more than one 12-month business cycle.
But the biggest drawback to bringing equity investors into your business is a potential loss of control. When you sell equity (or shares) in your business to venture capitalists or angels, you are giving up a percentage of ownership in your business, and you may be doing so at an inopportune time. With this dilution of ownership most often comes a loss of control over some or all of the most important business decisions that must be made.
Sometimes, owners are enticed to sell equity by the fact that there is little (if any) out-of-pocket expense. Unlike debt financing, you don’t usually pay interest with equity financing. The equity investor gains its return via the ownership stake gained in your business. But the long-term “cost” of selling equity is always much higher than the short-term cost of debt, in terms of both actual cash cost as well as soft costs like the loss of control and stewardship of your company and the potential future value of the ownership shares that are sold.
Alternative Financing Solutions
But what if your business needs working capital and you don’t qualify for a bank loan or line of credit? Alternative financing solutions are often appropriate for injecting working capital into businesses in this situation. Three of the most common types of alternative financing used by such businesses are:
1. Full-Service Factoring – Businesses sell outstanding accounts receivable on an ongoing basis to a commercial finance (or factoring) company at a discount. The factoring company then manages the receivable until it is paid. Factoring is a well-established and accepted method of temporary alternative finance that is especially well-suited for rapidly growing companies and those with customer concentrations.
2. Accounts Receivable (A/R) Financing – A/R financing is an ideal solution for companies that are not yet bankable but have a stable financial condition and a more diverse customer base. Here, the business provides details on all accounts receivable and pledges those assets as collateral. The proceeds of those receivables are sent to a lockbox while the finance company calculates a borrowing base to determine the amount the company can borrow. When the borrower needs money, it makes an advance request and the finance company advances money using a percentage of the accounts receivable.
3. Asset-Based Lending (ABL) – This is a credit facility secured by all of a company’s assets, which may include A/R, equipment and inventory. Unlike with factoring, the business continues to manage and collect its own receivables and submits collateral reports on an ongoing basis to the finance company, which will review and periodically audit the reports.
In addition to providing working capital and enabling owners to maintain business control, alternative financing may provide other benefits as well:
It’s easy to determine the exact cost of financing and obtain an increase.
Professional collateral management can be included depending on the facility type and the lender.
Real-time, online interactive reporting is often available.
It may provide the business with access to more capital.
It’s flexible – financing ebbs and flows with the business’ needs.
It’s important to note that there are some circumstances in which equity is a viable and attractive financing solution. This is especially true in cases of business expansion and acquisition and new product launches – these are capital needs that are not generally well suited to debt financing. However, equity is not usually the appropriate financing solution to solve a working capital problem or help plug a cash-flow gap.
A Precious Commodity
Remember that business equity is a precious commodity that should only be considered under the right circumstances and at the right time. When equity financing is sought, ideally this should be done at a time when the company has good growth prospects and a significant cash need for this growth. Ideally, majority ownership (and thus, absolute control) should remain with the company founder(s).
Alternative financing solutions like factoring, A/R financing and ABL can provide the working capital boost many cash-strapped businesses that don’t qualify for bank financing need – without diluting ownership and possibly giving up business control at an inopportune time for the owner. If and when these companies become bankable later, it’s often an easy transition to a traditional bank line of credit. Your banker may be able to refer you to a commercial finance company that can offer the right type of alternative financing solution for your particular situation.
Taking the time to understand all the different financing options available to your business, and the pros and cons of each, is the best way to make sure you choose the best option for your business. The use of alternative financing can help your company grow without diluting your ownership. After all, it’s your business – shouldn’t you keep as much of it as possible?
A Brief History of Home Entertainment
The concept of home entertainment and indoor recreational activities changed when home electronics invaded our lives. One can say that access to numerous electronic products at home has revolutionized the idea of what constitutes a complete home entertainment. Nowadays, anyone can have immediate access to every kind of electronic entertainment via different media within the comforts of their homes. They can have their choice of entertainment which may range from the latest DVD players, radios to the wireless internet connection which offers them the convenience of mobility. Advancement in technology has gifted us with loads of home entertainment options ranging from radio, television, CD, DVD players, home theatre system, games consoles and so on.Music has always been one of the most preferred leisure activities. It found its way into our home through the long playing discs and the gramophone. Of course with the coming of radio a decade later made music a more widespread home entertainment. Before the advent of the CD or DVD player, the radio was the most popular home entertainment system available. Though there were some juke boxes available in the local pubs or salons where one could listen to a song of their choice at home there was only the radio. With radio, the choice of listening was however quite limited as people had to listen to the songs that the radio channels would play, even though some of the stations would at times play the selected numbers based on listeners’ requests. But there were no complaints as there wasn’t anything better for decades to come.Initially, when television had not yet become an everyday part of our lives, the visual entertainment strictly meant those theatres which had large screens to view a movie. Things changed dramatically with the invention of the television in the initial phase of the 1950s. The television was a complete wonder in the days when it was discovered. People did not have to restrict themselves anymore to music as their only entertainment at home. They could actually watch a full length movie in the comfort of their own home.Not only movies, this small wonder box started entertaining people with more and more new ideas, programs and techniques. Television has been considered as one of the pioneers in the history of home visual entertainment. Of course it provided more than just entertainment. With news and special documentaries, TV soon became the most important source of amusement. The long playing discs were also a part of home entertainment which was an early discovery. While radios, LPs and television made a permanent place in everyone’s home, the quality of sound in those times essentially required tremendous development.Good sound systems and speakers stared to develop in the mid 1970s. Various technologies were discovered to enhance the quality of sound. And with the music genres like rock, pop and discos coming into being, there was a specific and urgent requirement for good quality sound systems. Thus the electronic giants did not stop producing recorders and put more emphasis on amplifying and equalizing the sound to give it a new dimension.Good quality sound systems were specially designed and created for homes which produced outstanding music. Woofers and subwoofers along with various amplifiers equalizers and multi channel audio were being used to produce crisp stereophonic sounds.However, this concept took a back seat when CD and DVD players came into existence. During the end of the ’70s and early ’80s some of the electronic giants worked in collaboration to develop the world’s first Compact Disc system. Experts proved that this CD player was quite compact and lightweight with its unique durability. For music lovers it was truly a boon. At the same time this CD system opened a new window in the audio equipment industry.Compact discs were more durable than any other long playing discs or tapes. Thus the CDs removed all other music disc and tapes from the market and held prominent position. The 80s and early 90s saw a vast improvement in the technology of compact disc systems. It became very popular with people because of the crystal clear sound it produced and was affordable. These CDs not only stored music, it was versatile enough to store movies, data, pictures or even software.Along with CDs a much improved device which actually revolutionized and changed the entire system of home entertainment is the DVD or digital versatile discs. These discs are powerful and large enough to hold two movies in one. It stores data digitally and is more durable. The scratch proof technology of the DVD players also makes the DVDs last a long time. Both music and movie buffs felt delighted when the DVD player came into the market. Recent survey statistics reveal that the DVD player is the most successful product of home entertainment. It was introduced in the year 1997 and has reached great heights of success ever since.Nowadays, people can have the same effect of a movie theatre in their homes. With the latest DVD players, LCD screens and the sound systems with woofers, sub woofers and multi channel audio systems, anyone can have a fantastic home entertainment system with high quality sound and spectacular visual effects. The plasma and LCD screens are high resolution televisions which started to develop in the latter half of the 1990s and these sleek televisions enabled the viewers to experience digital sound and vision with fantastic picture quality and various advanced features.With the invention of DVDs and a major development in the visual media such as Plasma and Liquid Crystal Display or LCD in the late 90s gave home entertainment its latest technical dimension. With it, the meaning of home entertainment changed significantly with more and more people installing the home theatre systems with newest gadgets and technologies.