5 Liberal Arts Graduates Who Went On To Become CEOs of Tech Companies, Leaving Their Engineering Colleagues Behind

The traditional view continues to be that graduates of liberal arts are at a disadvantage when it comes to pursuing a career in tech. Indeed salary figures do still support this opinion with humanities graduates making on average around $20,000 less than graduates of engineering or computer science based degrees.

Liberal arts graduates should not, however, be put off pursuing a career in tech. More large tech companies have gone on record praising the value of arts graduates, and have shown through their business practices, that to be effective in the marketplace, it is often better to recruit people with a more diverse range of skills and abilities, rather than simply focusing on engineers.

So if you are concerned, that your history or philosophy major was a waste of time and money; take a look at these 5 CEOs who bucked this trend proving that you might have a future in tech after all.

1)    Carly Fiorina – Former CEO Hewlett-Packard – 1999 – 2005

Graduating in Medieval History and Philosophy from Stanford in 1976; Carly went on to become the first woman to lead a Fortune ranked Top-20 company, and later went on to oversee the company`s merger with manufacturing giant Compaq. She said that while her degree did not specifically help her with tech issues, she stated that it did “prepare me for life, and taught me the value of critical thinking.”

2)    Sam Palmisano – Former CEO IBM – 2002 – 2012

A graduate of History from John Palmer University in 1973; John went on to head one of the worlds largest and most well know computer companies in the world. After graduating, he started his career as a salesman before rising through the ranks at IBM, and eventually almost 30 years later became CEO and COO.

Since his departure from IBM, he has been drafted in by President Obama to head up a government cybersecurity division, which is in charge of defending the US from cyber-attacks.

 3)    Peter Thiel – Paypal Founder

Peter Thiel studied Philosophy at Stanford and has gone on to have a superb career in tech. As one of the three co-founders of Paypal in 1999, Thiel and his colleagues later sold the company to E-bay for an astounding $1.5 billion. He then went on to become the first outside investor in Facebook, and founded another tech security company in 2004, called Palantir, which was in part funded by the CIA.

 4)    Susan Wojcicki – CEO Youtube – 2014 – Present

Described by Time magazine as the “the most powerful woman on the internet”, and included in the Top-100 most influential people of 2015, is YouTube CEO and Harvard History graduate Susan Wojcicki.

Susan started out her career at Intel before moving to Google in 1999, where she quickly ascended the company ladder, and can proudly boast the development of AdSense as one of her many outstanding achievements in the tech industry.

5)    Daniel Hesse – CEO Sprint Nextel – 2007 – 2014

A student of Government and Liberal Studies at the University of Notre Dame; Daniel Hesse started his career at AT&T before eventually becoming CEO of telecommunications giant Sprint Nextel. Further reiterating the notion that arts graduates can play a significant role in tech companies, Daniel led the company out of dire financial problems by focusing the company’s efforts on the improvement of customer service, which would eventually prove pivotal in turning the company’s fortunes around.

Daniel now works on the board of directors for E-Commerce company, Akamai, which may well be fitting, as “Akamai” is the Hawaiian word for “Intelligent”.

Key Words –

Liberal arts

Tech Companies

Computer Science

Stamford

Hewlett-Packard

Compaq

IBM

President Obama

Carly Fiorini

Susan Wojcicki

Google

Sprint Nextel

Daniel Hesse

Akamai

Palantir

References

http://time.com/4012832/meet-youtubes-view-master/

http://www-03.ibm.com/press/us/en/pressrelease/1613.wss

http://fortune.com/2009/03/23/behind-fortunes-most-powerful-women/

http://fortune.com/2014/06/02/ceo-college-majors/

http://www.business2community.com/leadership/21-wildly-successful-ceos-with-liberal-arts-degrees-01293809

http://www.prnewswire.com/news-releases/akamai-elects-daniel-r-hesse-to-its-board-of-directors-300313181.html

http://www.bloomberg.com/news/articles/2012-09-24/sprint-s-stock-outperforms-apple-as-ceo-sees-2014-profit

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Why the “Useless” Liberal Arts Degree Has Become Tech’s Biggest Boon

Tech Isn’t All Computers and Engineering

On the surface, technology is a field in which you must have some kind of computer or engineering knowledge and expertise. This is the common belief of society, and is largely true. However, a new trend has emerged in recent years. Many of the largest tech CEOs have a liberal arts degree. This goes against everything that people know, but it has had resounding and highly successful consequences for these innovative companies. The tech business has realized that there is more to business than merely creating excellent products.

Price of Creativity

One of the biggest and most influential benefits that companies with a liberal arts CEO, is that they have a new, unique, and creative point of view as to the company’s mission statement, marketing, and more. Liberal arts has long been seen as the dominating factor for teaching and sales, with more than 2.2 million people joining these work forces by the year 2022. Creativity is the hallmark of both teaching and sales, convincing people of either the importance of learning a concept, or by convincing the public to purchase a product. Jobs with liberal arts degree requirements require a constantly evolving set of creative skills, which are vital to the tech business.

Value of Communication

A Liberal arts degree does not simply have value of creativity, but also of communication skills. A creative CEO will still need to have persuasive skills, and be able to clearly and effectively communicate with investors, customers, and others within the company. Studies have shown that 2 out of 5 liberal arts majors are getting hired into tech companies due to the fact that they have specialized and fine-tuned communication skills that are applicable in a variety of contexts and situations.

The Power of the Social

While 14{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of the liberal arts majors from the top 20 schools go into tech business, almost all of these students are fluent in the power of social media. It has become a concrete and steadfast aspect of our social and business lives. The power of social media is why liberal arts are not dead, and why liberal arts majors make the most innovative CEOs. Social media relies on the basic premises that make up the liberal arts degree – innovation, creativity, and an understanding of human behavior.

Don’t Give Up On The Liberal Arts

While the liberal arts tech community has grown, and is projected to grow continuously each year, engineering and computer sciences are expected to only grow 3{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} in the same period. Companies are not only looking for those who can build a physical object, they are looking for creative liberal arts degree holders to build a unique, and well-balanced business. To create a successful business, you need to think outside of the box, working with both the black-and-white world of engineering and science, as well as with the creative and unconventional world of liberal arts. Together, they are taking over the tech world.

Keywords

Liberal arts degree

Liberal arts tech

Liberal arts CEO

Tech CEO

Creative CEO

Creative liberal arts degree

Innovative CEO

Why liberal arts is not dead

Jobs with liberal arts degree

Value of creativity

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7 INVENTIONS TO REVOLUTIONISE THE LIVES OF THE VISUALLY IMPAIRED

Unfortunately, coping with becoming visually impaired is a common way of life for many people thanks to diseases, injuries or other health conditions such as diabetes. One of the fundamental problems which loss of sight causes for people is the inability to negotiate unfamiliar places. It can also affect everyday life activities such as working, sports, or even building friendships.
However, technological advances have been used to help improve the lives of the visually impaired with many creative new inventions developed to help with daily living challenges. Here are the top seven inventions which could revolutionise the lives of people with sight problems:

1. Shoes which can tell you which way to go
Ducere Technologies have created Lechal insoles which can connect via Bluetooth to your mobile device. You input your directions, and as you start to walk, the shoes will vibrate when you need to change course – either the right shoe or the left shoe – with the buzzing getting stronger the nearer you are.

2. Glasses which show you colours
For people whose visual impairment includes colour blindness, to them, a whole new way of seeing the world could be made available thanks to Enchroma Lenses. They look like regular sunglasses but enable colour blind people to view a variety of hues.

3. Accessible mobile phones
Many cell phone manufacturers are now incorporating original elements to make their handsets accessible for the visually impaired, including screen-reading, voice control, slide out keypads, and raised details on the keys to guide your fingers.

4. Braille Rubik Cube
While it’s not something you need on a daily basis, those looking for an exciting challenge might like to try the braille Rubik cube. Rather than match the colours, you match the feel of the braille squares.

5. A safe audible mug
Imagine being blind and trying to make a cup of tea or coffee – how would you know when you had filled the cup with hot water? Well, thanks to the Braun Bell Concept Mug there is now no risk of burning yourself as it lets out a sound once the water hits a particular sensor, telling you to stop.

6. A watch that lets you feel what time it is
Being able to speak the time is something we all take for granted, but if you can’t see, then how do you know what time it is? A brilliant invention to make everyday life easier for those whose sight is limited is the watch which lets you feel the time. The designs use breaks at the 12 o’clock mark and ball bearings to enable the wearer to feel the position of the second hand and the hour hand.

7. A bracelet which tells you where you are
A simple looking piece of jewellery can help blind people to navigate around unfamiliar places, as they contain full navigation options including GPS, audio and voice controls. This nifty and stylish gadget can contribute to maintaining a healthy level of independence.

Key word:
Visually impaired
LSI:
Visual impairment
Blind
Sight loss
Loss of vision
Sight problems
Sight challenge
Colour blind
Sight limited
Accessible

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7 INVENTIONS TO REVOLUTIONISE THE LIVES OF THE VISUALLY IMPAIRED

According to the World Health Organization, about 285 million people worldwide are considered visually impaired, meaning they are fully or partially blind. Visual impairment makes it tough to navigate today’s fast-paced, technologically-focused world. However, advances in technology are enabling innovative designers to create inventions which allow the blind and visually impaired to regain a sense of autonomy, agency, and dignity in a world which often undermines their potential.

  1. Mobile phones adapted for the visually impaired

    None of the major mobile companies such as Apple or Android has phones specifically built for blind people, although some models can be tailored for those with mild visual disabilities. The B-touch mobile phone by Yanko Design is a smartphone, equipped with touch screen technology, which is entirely designed for blind users. The phone uses a combination of a braille touch pad, high-contrast raised keys, voice recognition and camera word processing technologies to enable the blind to do many of the tasks of traditional smartphones.

  2. Touch-sensitive vibrating shoes

    The sense of touch is highly underused in technology assisting those with visual impairments. One shoe company called Lechal had designed a pair of shoes which combines GPS technology with vibration to help the user navigate through his or her environment. The shoes vibrate the left or right foot when a turn is needed, and the designers soon hope to be able to identify obstacles ahead.


  3. Tactile Flash Cards

    Another design by Yanko, these flashcards enable the lifelong visually impaired to learn about different objects through three-dimensional diagrams and braille terms.

  4. Argus II: The Bionic Eye

    Although this may sound like something out of a science-fiction novel, it has been used experimentally by over a hundred people. The company Second Sight developed Argus II to help those with degenerative eye disease (not those blind from birth) to regain some amount of vision. The device uses a combination of retinal implants, optical processing glasses, and electrical impulses to transfer light manually from the user’s environment to the visual cortex.

  5. Thermal Painting

    Although it may not seem like the most useful invention, there are plenty of blind artists who are denied the opportunity for creative freedom. This touch colour tablet necessarily translates colour into critical temperature (a spectrum of tools for blue, purple, and green, and spectrum of warms for reds). This way, artists can paint using heat as their guide and can “mix” colours as well as sample colours from their environment.

  6. Braille Watch

    Another Yanko design called the “Feel the Time” watch has physical dots of braille moving around the clock face rather than two hands under a glass panel. This enables the blind to feel the positioning of the clock hands and tell the time.

  7. Braune Bell Concept Mug

    This mug enables the blind and the visually impaired to drink hot beverages like coffee and tea without risking burning themselves. Most blind people use their fingers to test the level of water in a mug, but this cup sends out a different pitch when the mug is low, medium, or almost full so that the visually impaired person can hear the water level rather than feel it.

http://www.who.int/mediacentre/factsheets/fs282/en/

http://www.who.int/

https://en.wikipedia.org/wiki/Visual_impairment

http://www.yankodesign.com/2009/06/15/touchphone-for-the-blind/

http://lechal.com/

http://www.yankodesign.com/2009/08/11/tactile-flash-cards-for-the-blind/

http://www.secondsight.com/

http://www.yankodesign.com/2009/08/04/no-longer-color-blind/

http://www.yankodesign.com/2009/04/22/get-touchy-feely-with-time/

http://www.ohgizmo.com/2009/08/06/braun-bell-concept-mug-for-the-visually-impaired/

Keywords:

blind,

visually impaired,

visual impairment,

technology,

mobile phones,

visual disabilities,

smartphones,

vibration,

GPS,

motion sensing,

flashcards,

vision,

degenerative eye disease,

thermal painting,

braille watch

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Was 2016 the year to make or break Indian startups? (Content Strategi – SEO)

India has experienced a boom in new emerging startups in the past few years. This year, 2016 has been different, though. So is India’s startup bubble about to burst?

First the bad news

Despite being the worlds 3rd largest ecosystem for the startup industry, India has seen a massive fall in investment in new startups. Compared to the same period in 2015, investment decreased a staggering 40{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} in the first half of 2016, to the tune of $2.1 billion. This fall in investment has impacted startups and new businesses in one of two ways:job losses and sadly the closing of some.

In July this year, Flipkart showed 700 of its employees the door, following in the footsteps of Snapdeal, Zomato, Grofers, Housing, TinyOwl and others who have also been forced to lose staff due to financial difficulties or failure to meet forecast goals.

Unfortunately, for some companies and startups, job cuts were not enough, and 2016 has been witness to the folding of some big players in the startup industry; including Peppertap, Amber Wellness, and Tooler, with many others set to follow suit.

Now here’s some good news for entrepreneurs

It’s not all bad news, though. This year saw the second year of the annual Startup India Rocks Competition –  A competition run by Scaales global group. The competition provides entrepreneurs with the opportunity to win prizes which range from mentorship, funding and corporate connections.

Last year’s event in Goa was so successful that the idea was expanded into the global market, now known as Startup Global Rocks.

Startup Global Rocks features:

  • Over 100 companies from more than 15 countries
  • More than 60 global investors
  • The involvement of at least 50 global media outlets
  • More than $2 million invested so far

Scaale global group are a company growth consultancy group with connections in over eight countries worldwide. The group has more than ten years of experience, connecting startups and small businesses with funding, corporate contacts and investors they require to grow their business.

So what’s the Government planning for startup companies?

In January of 2016, Prime Minister Narendra Modi presented the Startup India action plan, to a collection of startup founders.  The Startup India action plan is a 19-step plan that aims to put entrepreneurship and innovation at the forefront of the Indian economy, by relaxing policies and providing funding and training opportunities for the country’s entrepreneurs. Key players in the startup industry such as Girish Mathrubootham, founder of Indian startup Freshdesk, applauded the governments recognition of startups as legitimate businesses.

The Startup India action plan proposes many things from funding to tax breaks, training centres and easier company registration to name a few.

And with over 80k jobs being created by the startup industry alone in 2015, it’s hardly surprising that the Indian government wishes to bolster and aid the industry. However, many feel that the action plan doesn’t go far enough.

The Startup India action plan does lack a few things

As with most new government programs, there have been a few voices of discontent since the announcement made at Red Fort, Delhi in January. While many agree that the Startup India action plan will make life easier for new startups and investors, others feel the terms of the plan fall well short of what India’s startup industry needs.

Forbes India, highlighted some of the good, and not so good aspects of the Startup India action plan. The graphic depicted here enumerates the pros and cons of this plan.

img

Some blame the atrocious gender gap in India for India’s struggling startup industry, with only 10{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of startup founders being female, compared to 37{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} in the US. While others, including Alok Goel, managing director at SAIF Partners, suggested that India’s old-fashioned laws and policies are to blame.

Nobody can deny, though, that this is a very exciting time in India to be launching a startup. It remains to be seen how far the newly launched plan is going to survive, though.

How are the startups shaping up in India?

In a new economic climate where innovation and entrepreneurship have been pushed to the forefront, India could see a real upsurge in the number of startups around, and this is of vital importance for a country like India.

The problem-solving minds of entrepreneurs are important in tackling some of Indias biggest problems such as health care and education. This is where Indian startups differ from those in the rest of the world. India is not exporting cheap labour like in bygone years; they are developing solutions for Indian people in India.

The government’s development of the Startup India action plan demonstrates that they are becoming increasingly aware of the importance of startups in India.  So, while the new policies may come too late for existing fledgeling startups, there may still be a few creases that need ironing out. Hopefully, we will see an increase in new ideas and innovations as a result.

What are the proposed Startup incubators

One of the biggest aspects of the government’s plan is the formation of Startup incubators, centres of excellence around the country where entrepreneurs and innovators can come together to share ideas.

With the sole purpose of helping new businesses grow, incubators are developing to be more industry specific in India so that startups can focus on the right areas. Assistance ranges from basic business etiquette and connecting startups with industry partners, to simply providing office space.

The future for Indian startups

With the Startup India action plan now in full swing, the government has proposed many options which should make setting up a startup easier. But it is important to remember that despite this investment, many of Indias top 200 startups choose to base their headquarters in countries such as Singapore and the US, in order to experience more business freedoms. So the next big question is, once we encourage all these new startups in India,  how do we get them to stay?

Primary Keyword: startups

LSI Keywords:

Variants: Indian startup, India’s startup industry, global startup, startup India rocks, startup India action plan

Antonyms/Synonyms: entrepreneurs, new business, businesses, investors, entrepreneurship, innovation, mentorship,

Sources:

http://qz.com/819873/the-one-word-that-sums-up-indias-startup-sector-in-2016-unimpressive/

https://yourstory.com/2016/07/funding-roundup-indian-startup-h1/

http://startupindia.rocks/

http://scaale.com/group/

http://startupindia.gov.in/actionplan.php

http://www.forbesindia.com/article/startup-india-2016/startup-india-action-plan-glass-halffull-yet-halfempty/42105/1

https://in.linkedin.com/in/girish1

https://freshdesk.com/

http://www.nasscom.in/startup-india-{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}E2{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}80{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}93-momentous-rise-indian-startup-ecosystem

http://timesofindia.indiatimes.com/trend-tracking/startup-layoffs-continue/articleshow/53465457.cms

http://www.forbesindia.com/article/startup-india-2016/everything-you-wanted-to-know-about-startup-india/42481/1

http://www.forbesindia.com/article/startup-india-2016/what-we-need-to-solve-indias-biggest-problems/42077/1

http://economictimes.indiatimes.com/small-biz/startups/government-certifies-20-companies-as-incubators-under-startup-india/articleshow/53201716.cms

http://www.topmba.com/blog/what-startup-incubator

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Small Business Financing-A Simplified Breakdown

Small business financing is an important part of any company’s start-up process. After all, how can one kick start a successful business venture without the capital to back it up? Luckily there are things in place to help make business dreams a reality; it’s simply a matter of understanding how business financing can work for you.

What Are SBA Loans?

SBA (or the U.S. Small Business Administration) is a government agency dedicated to providing loan guarantees and other support to help promote healthy business and company growth across the country. It was established in 1953 and has since helped secure over 20 million loans. 

Often considered one of the easiest ways to secure small business financing for start-up companies looking to make their mark, it’s important to understand how they work. Small business financing can be risky, and the less ignorance displayed when applying for the loan, the better.

One important thing to remember when applying is this: these loans do not come directly from the SBA. They are primarily outsourced by banks and vendors that participate in the SBA program. This essentially guarantees you’ll be offered cheap and fair interest rates in the end, but individual terms may vary from bank to bank and vendor to vendor.

For this, we’ll be analysing the 7(a) SBA Loan Program in particular.

Picking It Apart

There are various reasons you may find you and your company looking for small business financing. To help clarify some of the reasons, let’s pick it apart a bit.

Equipment Financing

It almost goes without saying, but you may find yourself in need of equipment for your start up business. Luckily, if your company is focusing on any of the following:

  • Construction
  • Office and Computer Work
  • Food Service
  • Landscaping
  • Transportation

There are many financing options available through SBA lenders to companies needing equipment financing. Let’s face it- there’s a good chance your business falls into one of the above categories.

BAL (Business Acquisition Loans)

Business Acquisition Loans are arguably the trickiest to score since the Great Recession in 2008 (a dramatic fiscal climate that shook the business world to its core, making it even harder at times to secure small business financing). That’s not to say it’s impossible- if you can manage lower financing rates (a company that once financed up to 80{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} will more than likely not go above 50{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}) and larger down payments, you’ll be fine.

Commercial Loans

Commercial loans are arrangements typically used to finance major expenditures or help recoup operational costs that could potentially sink you into crippling debt.  These are used for:

  • Purchasing Real Estate
  • Refinancing Commercial Real Estate Assets
  • Refinancing Businesses With Real Estate

Due to the nature of these types of loans, making deals and structuring agreements can be difficult and at times.

The Inner Workings of Fees and The Interest Rates (aka The Boring Stuff)

A guarantee fee is a fee based on the loan’s maturity and the dollar amount guaranteed, not the actual dollar amount being loaned. The lender will pay the guarantee fee initially, but they retain the option to pass the expense on to the borrower at closing.

For any loan under $150,000, the feeis set at zero percent. Any loan greater than that but with a maturity of one year or less, the fee is 0.25{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}. On loans with a maturity greater than one year, the fee is at 3{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}. If the loan is more than $700,000, the fee is 3.5{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}. There is an additional fee of 0.25{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} on any portion of more than $1,000,000.

Typically, SBA loans come with fixed or variable interest rates. It is the bank lender who determines this part of the process depending on things such as your current credit score and the current nature of the loan arrangements.  To help protect you, SBA has implemented a cap on loan rates by limiting what a bank is allowed to add to the top of the base interest rates.

To delve a bit deeper, if your loan term is less than a seven year period you’ll wind up paying a rate of roughly 6-13{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}.

Where to Find Your Loan

That’s certainly a lot of information to swallow at once- all you need to do is jump start a corporate dream, right? Luckily, there are numerous fine lenders available that specialise in helping secure small business financing for companies (Biz2Credit being a great example), and even more information outlets available online that can help you understand the technical jargon of the finer details of these loan agreements.

Primary keyword: small business financing

LSI keywords:

Variants: secure small business financing, small business financing for companies,  looking for small business financing

Antonyms/Synonyms: SBA Loans, business venture, financing, Small Business Administration, lender, bank lender, loan arrangements, commercial loans

Sources:

https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/general-small-business-loans-7a

https://www.fundera.com/business-loans/sba-loans

http://fitsmallbusiness.com/sba-loan-rates/

https://www.nerdwallet.com/blog/small-business/start-up-business-loans-for-bad-credit/

https://www.shopify.com/blog/low-investment-business-ideas

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A Fresh Look At Small Business Financing

The holiday season’s upon us and with it often comes extra stress, rushing around, and a sense of feeling overwhelmed. But as the new year approaches, it can also be a time for creating fresh starts. When it comes to your livelihood, finding a way to finance your small business can also be overwhelming at best, and sometimes downright daunting. However, just like you may be getting ready for the new year on a personal level, now is also a great time to get the ball rolling on funding your new venture. With that comes staying on top of all the options, trends, and resources surrounding small business financing.

How Much Does It Take?

Before determining how to go about financing your business, it’s important to have a concept of how much capital it takes to start a business, as that can impact where you choose to seek finance. One survey done by the Wells Fargo Small Business Index reported that $10,000 is the average amount of startup money required by a small business owner. However, other surveys, such as the Kauffman Firm Survey, indicate that the number is much higher – closer to $80,000.

While these numbers help to give insight into what to expect, the amount of capital needed to start up will vary greatly depending on the type of business, industry, size, etc. The Small Business Administration (SBA) recommends a few simple tips to help calculate your start-up costs. Once you’ve analysed your potential expenses and capital expenditures, assessed your assets, and allocated your costs, you’ll be able to calculate your startup cost using this starting costs estimate calculator, offered by entrepreneur.com.

Small Business Financing Options

There are many options available for small business owners to explore, from traditional to slightly out-of-the-box:

  • Bootstrapping

    Even though funding your small business out of pocket – or bootstrapping – may potentially be the most challenging financing route, it doesn’t mean that a significant portion of U.S. entrepreneurs doesn’t explore this option. In a recent study by BlueVine, results show that 75{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of American small businesses rely on personal finances as their primary source of small business funding and 83{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} have put at least some of their money into their companies

  • Alternative Lending

    If financing your business with your money isn’t an option, you’ll need to plan on borrowing the money, and there are a variety of ways to obtain a small business loan. Emerging over the last several years are alternative lending companies that can offer quicker and smaller loans through a simple online application process.

  • Traditional Bank Loans

    Although big banks are known for a high rejection rate and an extensive application process, bank loans remain a viable option for small business lending – and approval rates are up, as we’ll take a look at it below.

  • Raising Capital

    Venture capitalists and angel investors can be a successful path to take for the right kind of business. However, keep in mind that it will require a very well thought out business plan, strong financial projections, and a lot of passion for your business.

  • Crowdfunding

    A newer form of financing a small business, crowdfunding offers a method of raising money without having to pitch to a team of investors. And while there are certainly success stories out there, crowdfunding has yet to become the go-to option for businesses. According to a survey done by Manta in March 2015, only around 2 percent of business owners surveyed expressed that they had ever used a crowdfunding platform.  However, it could be worth looking into if other avenues have been exhausted.

Approval Rates

According to Biz2Credit’s recent Small Business Lending Index report, approval rates at banks and institutional lenders recently reached all-time highs with the approval rate for small business loans from big banks at 23.5{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} in October (up from 23.4{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} in September). Institutional lender approval rates also rose to a new high of 63.1{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} in October. For small banks, the approval rates have remained stagnant, at 48.7{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}, and alternative lender loan approval rates declined to 59.5{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}.

For SBA loans (specifically the most popular type, the SBA 7(a) loan) the approval rates are relatively low and require stellar credit. In a report by the SBA, approval rates from 2015 were broken down by gender, ethnicity, and location. For minority-owned businesses, the approval rate was 29{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} versus 57{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} for white-owned businesses, 71{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} for male-owned businesses as opposed to 29{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} for female-owned, 67{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} existing businesses versus 33{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} new businesses, and 17{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} rural versus 83{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} urban.

While there are many aspects of starting a business that will undoubtedly overwhelm you, don’t let securing small business financing be one of them. Armed with the knowledge to get started, use the upcoming season as the perfect excuse to get the ball rolling on funding your business.

Primary Keyword: small business financing

Variants: financing for your small business, small business finance options,  securing small business financing, surrounding small business financing

Antonyms/Synonyms: small business loan, small business loans, small business lending, business lending options, Crowdfunding, traditional bank loans,  alternative lender loan

References:

https://www.sba.gov/sites/default/files/2014_Finance_FAQ.pdf

https://www.sba.gov/blogs/how-estimate-cost-starting-business-scratch

http://www.crowdfundinsider.com/2016/11/92352-biz2credit-reports-small-biz-loan-approval-rates-big-banks-institutional-lenders-continued-surge-october/

https://www.fundera.com/blog/small-business-statistics

https://www.sba.gov/sites/default/files/aboutsbaarticle/SBA_Lending_Statistics_for_Major_Programs_as_of_01-15-2016.pdf

http://www.businessnewsdaily.com/8703-current-state-small-business-financing.html

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Unblinding With Technology – Five Amazing Gadgets for Visually Impaired

There are various reasons for a person to turn blind, from age, accidents to diseases and strokes. Thanks to the massive renaissance in science and technology, there are many gadgets available for the blind, to help them ease their daily chores and live their lives normally.

The core functionality of our body is to live and enjoy through our five senses. These are ears to hear, tongue to taste, nose to smell, nerves to feel touch/pressure and eyes for sight. But not all are fortunate to have all five senses intact.

Loss of sight or blindness is a condition in which a person’s view becomes partially or completely damaged and cannot be corrected by wearing spectacles. There are various reasons for a person to turn blind, from age, accidents to diseases and strokes. Thanks to the massive renaissance in science and technology, there are many gadgets available for the blind, to help them ease their daily chores and live their lives normally. With these gadgets, blindness will no longer hinder them from pursuing their dreams.

Here is a list of devices designed specifically to ease the visually impaired:

1. Sensor Embedded Sticks

Walking on streets is not easy for blind people. They use a stick to make sound by tapping as they walk to get an idea of the terrain on which they are walking. But now we have i-sticks. These sticks are built with lenses at the end that convert the images received into electronic signals. The stick vibrates, alerting the blind people when are near uneven terrain such potholes or staircase.

2. Color Sensors With Sound

Vision impairment doesn’t mean you leave your style. This is a colour reader that detects the colour underneath it and then translates them into voice signals. It might not be very helpful for people who are blind since birth, but others who have suffered a loss at a later stage can benefit a lot.

3. Sign Convertors

A major problem with deaf and blind people is the communication barrier between them and the rest of the world. Not many people know sign language, and the gestures can vary from region to region. This could lead to a whole lot of miscommunication. This gadget has a dual functionality wherein it converts gestures to voice, and voice signals to speech. You can even select a language of your choice for easier communication. The device is light in weight and worn as a pendant.

 4. E-Braille

Visually impaired people read through braille script, in which letters are embossed in dotted rectangular blocks. It was printed on paper, but now we have ibrailler tablets. This is not as advanced as an actual tablet but lets the user type, edit, read or surf the internet. The user only needs to place their eight or ten fingers, and a voice over integration will help them guide to apps or use other functionalities. It is now available on mobile too.

 5. Artificial eyes

A concept which became the plot of ‘Blind Dating,’ 2006, is now actually reality. The visual prosthesis is a complicated and slightly expensive procedure but helps the blind see the world again. The patient is required to go through a surgery where a device is inserted in their retina. This device gets activated when the accompanying glasses are worn. These glasses have the camera built in them. When turned on, the patient sees the object in front of them in the contrast of light and darkness. Research is being conducted to enhance the quality and provide coloured imagery to the user.

Apart from these, there are magnetic cups, a sensor built shoes, blind watches and even flash cards to help the blind feel as normal as they can in their day to day life.

Keyword: Visually impaired

LSI: Gadgets for blind, science and technology, istick, braille, tablets, blind watches, Visual prosthesis, sign convertors, sensor embedded sticks, blind, blindness

Reference:

http://weburbanist.com/2010/04/05/12-ingenious-gadgets-technologies-for-the-blind/

http://www.digitaltrends.com/mobile/blind-technologies/

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Seven Inventions to revolutionise the Lives of the Visually Impaired

The world of technology is dynamic and always moving forward. However, humanity has always ensured that those who find it hard to move along with us, are not left behind. The following list is a glaring example of that. Here are seven inventions which hope to help people with blindness lead healthy lives.

1. See Stick

See stick is essentially a walking stick with a few enhancements. These improvements have made an already useful tool more intelligent.

See Stick is equipped with several sensors that analyse the environment around it and send vibrations to its handle accordingly. This gadget is capable of warning the user against possible threats while commuting.

2. Lechal Shoes

People with blindness usually rely on voice commands from their GPS device to walk through the city. Lechal Shoes takes this idea a ‘step’ forward.

These shoes connect to your mobile phone using Bluetooth and come with vibration motors in the soles which would guide the user about the directions he should take by buzzing the right/left foot accordingly.

3. Bionic Eye

Bionic Eye is a high-tech piece of technology that enables people with Pigmentose Blindness to see the world.

This is achieved through a camera in the glasses which would be worn by the user, and a tiny device placed on the retinas of the user.

These two components capture a digital image and convert it into signals that the brain can process.

4. B- Touch Mobile Device Concept

This soon-to-be-reality concept device will be able to assist people with visual imparity to carry out regular tasks such making phone calls, reading books, etc.

This all-in-one device uses Braille, voice processing and visual reading technologies to perform the tasks mentioned above.

5. Braun Bell Mug

This mug was designed to prevent the burns caused by over-filling hot drinks into the mug.

This convenient piece of technology works by incorporating several sensors which vibrate and beep according to the level of liquid poured into the cup.

6.Feel-The-Time Watch

Individuals with blindness are dependent on either audio clocks or strangers to know the time. This watch aims to change that. It has two concentric circles with a tiny nub at each, which moves according to the time.

It allows the user to know the time by merely feeling the nudges on the dial of the watch, thus saving time and inconvenience in the process.

7. Braille E-Book

The trouble with braille books is that they are way bulkier and more expensive than conventional books. This makes it tough to carry more than one book at a time.

Braille e-book is exactly how it sounds. It can dynamically change the pattern and the texture of the braille letters on the screen, and also store a tonne of books.

Advancement in technology is continuously improving the quality of life for all of us, including the physically challenged. So we wouldn’t be wrong if we said that in the future, the difference in the quality of life of the specially abled and the rest would be minimised to almost zero.

LSI Keywords

Inventions to help the blind

Gadgets for the visually impaired

Technologies for the Blind

Inventions for people with blindness.

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Internet – The Best Tool for Placement Preparation

Placement is a key benchmark on which most Indian colleges are judged. However, campus placement is no longer the only option. Fresh graduates seek placement opportunities beyond their college campuses as well.

However, both on-campus and off-campus placement drives have a common process for preparation. Owing to the popularity of e-learning, the Internet is the best option for all freshers to sharpen their skills with the help of online assessments and methodical course structures.

Buckling up for Company Specific Preparation Online

Performance tracking and conceptual questions by alumni from prestigious institutes like IIMs and IITs are benefits only online placement preparation can provide. Also, various websites, like Studybud, provide metrics for measuring performance and improvement gradient for the undertakers of their courses.

A systematic approach to online preparation includes:

1. Searching for the appropriate company

Different companies have different dates for freshers’ recruitment. They also have different patterns for aptitude exams and different requirements. All such information is readily available on many online websites, thus aiding in smart, company specific preparation. Company mottos and portfolios available online act as a guide on how to approach the preparation process for specific companies.

2. Solving questions and mock aptitude tests.

Online placement preparation has become popular because students have the scope for exploring a lot of different questions. Question banks and online assessments make freshers placement-ready. Test on V Verbal Ability, Quantitative Analysis, Data Interpretation, etc. are all available online. General Knowledge enhancement mock tests and information archives help keep the course-takers up-to-date.

3. Brushing up on Technical skills

Question banks dedicated to particular domains such as Computer Engineering, Accountancy, Electronics, etc. are available online. These provide freshers insight into what sort of interview questions they might get. Also, the Internet is the perfect place for getting to know interesting and unique questions that will give an edge over the others. Studybud provides systematic courses on a wide range of topics.

4. Soft-skills and Professional Grooming

The HR round of interview can be overwhelming at times. Online forums and presentations provide various tips and tricks on how to impress the interviewer(s) from the moment you step in through the door. Many ideas and guidelines for resume and cover letter presentation are also available.

A Bouquet of Advantages

A major advantage of online preparation is that a compilation of past years’ interview questions for numerous companies is available. Online forums are very popular when it comes to solving doubts one faces during self-study. It garners the participation of people from all over the country and guarantees some helpful suggestions. Studybud provides detailed explanations to all the answers to their online assessments.

Peer Learning and Accessibility

Online placement preparation can also involve the participation of peers for faster and more interactive learning. Faculty and mentors are also available to clarify doubts and clear concepts.

Smart preparation is the key due to time constraint, and online preparation provides the benefit of learning at the student’s convenience. 24×7 availability of content implies that the study materials and mock tests make the process of learning more user-friendly.

Keywords: Company specific preparation, Online assessments, StudyBud

LSI Keywords: Online tests, aptitude tests, mock tests, peer learning, question banks, online forums, 24×7 availability, e-learning.

References:

  1. http://p3.placement.freshersworld.com/power-preparation/online-tests
  2. https://www.blog.epravesh.com/advantage-of-online-assessment-during-campus-placement-training-for-your-institute/
  3. https://www.btechguru.com/PlacementReady
  4. http://placement.freshersworld.com/
  5. https://www.studybud.in/additional/features/
  6. https://www.studybud.in/courseintro/introtest/?id=QA01
  7. https://www.studybud.in/courseintro/introtest/?id=VA01
  8. https://www.studybud.in/courseintro/introtest/?id=EC01
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