Hedging with FX options

Corporations primarily use FX options to hedge uncertain future cash flows in a foreign currency. The general rule is to hedge certain foreign currency cash flows with forwards, and uncertain foreign cash flows with options.

Suppose a Philippine manufacturing firm is expecting to be paid US$100,000 for a piece of engineering equipment to be delivered in 90 days. If the PHP strengthens against the US$ over the next 90 days the Philippine firm will lose money, as it will receive less PHP when the US$100,000 is converted into PHP. However, if the PHP weaken against the US$, then the Philippine firm will gain additional money: the firm is exposed to FX risk.

Assuming that the cash flow is certain, the firm can enter into a forward contract to deliver the US$100,000 in 90 days time, in exchange for PHP at the current forward rate. This forward contract is free, and, presuming the expected cash arrives, exactly matches the firm’s exposure, perfectly hedging their FX risk.

If the cash flow is uncertain, the firm will likely want to use options: if the firm enters a forward FX contract and the expected USD cash is not received, then the forward, instead of hedging, exposes the firm to FX risk in the opposite direction.

Using options, the Philippine firm can purchase a PHP call/USD put option (the right to sell part or all of their expected income for peso at a predetermined rate), which will:

• protect the PHP value that the firm will receive in 90 day’s time (presuming the cash is received)
• cost at most the option premium (unlike a forward, which can have unlimited losses)
  
• yield a profit if the expected cash is not received but FX rates move in its favor

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The Internet is for Freelancer

The Internet is a true blessing for a lot of people. A world of opportunities opens before hard working persons or companies who want to make themselves heard or useful to others. Some choose to benefit from e-commerce. Others simply want to make a statement so they build their own websites for the whole world to see. Also, thanks to the Internet, freelancing was born. Skilled persons who know how to work with computers, who love programming, translating, writing, designing templates and logos – they all got working opportunities and the chance to earn supplementary incomes. Their success is due to websites that facilitate their connections with webmasters who need providers, which improve the safety and speed of online transactions and to websites that promote technology and simplify the work for computer lovers. We will further explain why the possibility to use freelance payment systems and any notebooks shop is a fortunate thing for any freelancer.

Freelance payment system like Paypal is an advanced online payment system that facilitates transactions on freelance sites like equan.us . As the people who work on these sites are hired for certain projects and don’t have an established salary, they need to be paid each time they complete their work. The payment has to be safe for both parts – webmaster as well as provider – and freelance payment system helps in this direction as it uses the standard Secure Sockets Layer (SSL) when the data is transmitted. Via freelance payment systems, the users give away only their credit card numbers or bank transaction information. The financial data is not available for misuse as it remains protected by the freelance payment system. Another important aspect is that the transfers are irreversible reassuring the providers that the money won’t be retracted from their accounts.

When someone sends the funds into the provider’s account using a freelance payment system, the money appears in real-time and an email notification is also sent confirming the transfer and alerting the receiver. The payment is therefore prompt and secure. So freelance payment systems very advantageous because it allows electronic payments, accepts credit cards as well as bank payments and sends the money instantly wasting no one’s time.

An additional positive aspect is that there are no fees for joining in. The freelancing sites of equan.biz are free of charges for the provided services as well, this means that practically no costs are involved. If you use a freelance payment system, there are no fees required to operate the account. Everything is favorable for users, they just take a fee on transactions.

As far as the financial aspect is concerned, freelancers don’t need to worry if they use a freelance payment system. So, one might be tempted to admire the wonderful life freelancers have as they don’t worry about anything except their work. Well, this is not entirely true. They are interested in how they deliver the project to their collaborators and this implies they possess the knowledge to do so, but also the instruments. Without the necessary equipment, their work may not be worth anything. They need high-tech equipment, meaning the latest computers, laptops and notebooks out there. With their help, the freelancers can do their job anytime and anyplace.

As already mentioned, the equan platforms are a freelancers’ best friend. Without upgrading the tools that are practically the basis of freelancing, the work the provider offers has little chances of being the best on the market. The freelancing services need to be supported by easy to travel with laptops and notebooks that keep the business going. Being part of equan is therefore imperative for people who want to be up to date and offer themselves the best services on freelancing job openings.

In conclusion, the Internet does offer everyone exactly what they need, even freelancers. The trick is to know where to look and to find the best services that can help you be useful to others as well. In the freelancers’ case, a freelance payment system like Paypal, a good freelance job portal like equan.co.uk , patience and skills regarding what they offer their clients are the things they need to be successful and they can find it all right where they work – online.

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Freelance Writing Tips to Ensure Your Success

Make the right business connections in the world’s fastest-growing freelance marketplace Equan.

Whether you’re a new or experienced freelance writer, you’ll have to work hard at staying on top of your game if you want to have steady work. You’ll have to work hard at writing, but you’ll also have to dedicate some of your time to building your business, learning new skills, networking, and keeping up with your competition. The following freelance writing tips will help ensure your freelance success.

Have a website and a blog.

Your website and blog can work for you as an online portfolio. Make sure to incorporate keywords into your website so that potential clients can find you in their online searches. For example, if you specialize in SEO copywriting, you might include the keywords “seo copywriting” “seo copywriter” “seo copywriting services” and similar terms folks seeking an seo copywriter might search for.

Embrace online networking.

Get to know other freelancers, not just so you won’t feel lonely or isolated working from home, but also because other freelancers can be great sources of work. Freelance writers often get overloaded with assignments, and when they do, they can refer some of their clients to you. Or, if someone approaches them about an assignment that isn’t within their area of specialty, if they know you do that type of writing work they can recommend you for the job.

Actively seek work, even when you don’t need it.

As experienced freelance writers know, you have to do a lot more than slap up a website and hope the freelance work will come to you. If you want to ensure yourself a steady paycheck, you’ll have to actively seek freelance jobs. Frequent freelance writing job boards, message boards and forums on a regular basis, even when you don’t need the work. You’ll be glad you did when some of your assignments end and you find yourself without enough work to get by on.

Don’t work for free.

Online job boards are full of start-up magazines and websites seeking writers but offering experience and exposure in lieu of payment. These types of folks prey on new writers trying to build their portfolios. They hope a few suckers will fall for their free writing assignments so they can launch their magazine or website without having to spend a chunk of their budget paying for professional quality. If you’re a new freelance writer, don’t get caught in this trap. Writing for free for such publications doesn’t lend you any credibility. Such clips don’t look good on your portfolio. In fact, any professional editor who sees you’re gullible enough to give your work away to these substandard publications will most likely be very turned off to see this type of “work” on your resume. If you insist on writing for free to build your portfolio, write for a respected non-profit or charity.

Write articles and submit them to article directories.

One exception to the writing for free rule is writing articles and submitting them to article directories. Why should you do this? Not only will the backlinks in your bio box benefit the page rank of your website, people who read your articles might be in the market to hire a freelance writer. Many freelancers get gigs directly from articles they’ve written for directories.

Need freelance writing work? The Equan job boards are full of freelance writing jobs, freelance editing jobs and freelance blogging jobs. Whether you’re just starting out or simply seeking additional assignments, Equan can connect you with lots of profitable freelance opportunities and Equan is for FREE.

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Finding Jobs As A Freelancer

Freelance work has gained tremendous popularity today. Freelancing has long been recognized as a reputable profession and freelance workers are sometimes valued more than regular, permanent staff members. With the internet’s help, more opportunities for freelancers are available at once. More people are able to work at their homes and more companies and organizations are able to contract out their projects instead of hiring regular employees.

According to recent studies, freelance jobs account for 20 percent of contracted graphic designs, web designs and software development in the world. To go freelance is a career choice and freelance jobs offer freelancers with plenty of opportunities and benefits.

Freelancers, especially the “internet freelancers,” always report satisfaction in their work due to several factors that freelance jobs offer. They are able to choose the job they want from a variety of freelance jobs and projects that are widely available in the internet. There is also faster turnaround of projects and freelancers can move on to another project as soon as the current one is done.

Freelance jobs also allow for freedom and more flexibility and freelancers can take on two or more different jobs simultaneously. Freelance jobs also offer higher income rates and help freelancers improve their saving capability. There are several types of freelance jobs, and the following four are considered the major classification.

* Telecommuting. Also known as e-commuting, teleworking, or working from home. It is a work arrangement wherein workers have limited flexibility with their work location and working hours. Freelancers who are telecommuters or teleworkers work while connected to a central telecommunication system such as teleconferencing and video conferencing.

* Consulting. A consultant provides expert advise in his/her particular area of expertise like accountancy, law, human resources, finance and public affairs. Sometimes, a consultant is not one person alone, but a group of people who are all part of the consultancy.

* Offshoring. This refers to the relocation or transfer of business operations from one country to another country. China, India or Philippines are three prominent countries that companies target for their offshore operations. Lately, India has been emerging as a top destination for trade in services, which refers to sale and distribution of services between the producer and consumers. Offshoring works best for areas related to production, and manufacturing.

* Outsourcing. This freelance arrangement refers to the transfer of management controls and decision-making aspect of the business to another person or groups of persons. Companies usually outsource operations to a group of individuals who specialize in that type of operation. Outsourcing is known to help companies reduce production costs and conserve energy.

Fields and areas where freelance work is acceptable and diverse and varied. Among the most common and highly-demanded freelance jobs are found in the fields of journalism, computer programming, graphic design and consulting.

According to studies, following are the most frequently sought after freelance jobs in the United States:

* Accountancy experts/Bookkeepers * Animators (for film) * Cartographers * Computer programmers * Consultants (political, architectural, sales, marketing, etc.) * Culinary jobs (chefs, wine connoisseurs, etc.) * Data encoders/Data processors * Editors/Copyeditors * Engineers * Events planners (corporate planning, party planning, etc.) * Financial planners * Florists * Grants writers * Graphic designers * Inspectors * Interior designers * Landscape artists * Massage therapists * Photographers * Private investigators * Seamstresses * Telemarketers * Translators and interpreters * Tutors * Upholsterers * Web designers * Writers

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The Demand For Freelancer

The word “freelance” was first coined by Sir Walter Scott, a renowned Scottish historical novelist and poet, in 1819 when he wrote his novel Ivanhoe, to refer to a medieval mercenary warrior. The term has then shifted into more figurative meanings. In the 1860s, freelance became a figurative noun, and in 1903, it was officially recognized as a verb by etymologists like the Oxford English Dictionary.

Today, the word “freelance” has changed into different forms: as a noun, freelance or freelancer; as a verb, a photographer who freelances; and as an adverb, he works freelance.

Working freelance has become a career and lifestyle choice. It has given more people a variety of benefits and these people feel that there is no better option than the ones they have due to the flexibility of work.

More people today choose to leave the security of their day jobs and engage in freelance work due mainly to the following factors:

* Variety of jobs. More people are drawn to go freelance for this reason alone. Freelance work offers a greater variety of assignments compared to regular employment. And with the internet offering more opportunities, freelancing becomes a mine for those who seek good opportunities and better projects, not to mention higher paying jobs. A freelancer can also take on different jobs at one time. He/She can write feature articles while designing a website.

* Fast turnaround of projects. Most freelance jobs are time bound. These jobs are usually done fast and allows freelancers to move on to new projects as soon as they finish the job.

* More freedom, more flexibility. Going freelance can give a person the freedom to choose the place, date and manner in which to do work. Though some freelancing schemes require contracts, freelance still spells a no employer-no employee relationship. Freelance work offers more freedom for someone who does not want to be confined in an 8 to 5 or 9 to 6 work scheme. The freelancer is free to choose his working hours and be his/her own boss. Because of the freedom in work schedule, freelancing gives a person more time to pursue other interests or take on more jobs. Other freelancers also consider the fact that they can even take care of their family better as soon as they start working freelance.

* Improved income and savings. Freelance workers can usually command higher income rates for their projects because they are hired for their specific talents and skills. This is a big plus because they are paid high but do not have to work full time. Though income rates for freelancers vary, most of them still benefit from the setup. They charge either by the hour, by the day, or on per-project. Others use value-based pricing methods instead of imposing a flat rate. Payments are arranged based on the agreement, and could be done upfront, percentage upfront, or paid whenever the project is completed. For others, a staggered payment scheme may be agreed upon.

Today, freelancers can easily find work through the internet. The internet has been a good facilitator of freelancers and employers around the world. These jobs can range from writing short articles to language tutors to architectural designs. The demand to complete projects through freelancing is still very high, as shown by the thousands of projects posted in the Internet on platforms like www.equan.us or www.equan.co.uk or www.equan.de or www.equan.hk or www.equan.in or www.equan.ph check it out and register to set-up your profile – it’s all for FREE for freelancer but also for project provider.

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Offshore Outsourcing: Freelance the Past, Virtual Employees the Future?

The internet has enabled the freelance sector to grow exponentially in recent years. Freelance work over the internet has mainly grown in fields such as software development, website design, advertising, proofreading, law, accounts and copy editing. The work consists of short term projects that can generally be completed within a few weeks or months. The vast majority of freelance work done over the internet in these sectors is offshore outsourced to freelancers and freelance companies based in India and more and more in the Philippines.

The offshore outsourcing of freelance work to remote freelancers in countries such as India is undoubtedly a profitable practice. Companies and individuals can have their projects completed by freelancers from India, for a fraction of what the cost would be in the USA or UK. Furthermore, there is no compromise on the quality of work, for the freelancers have the same qualifications and skills as their equivalents in the USA. For these reasons it is not surprising that companies alone from the West have increased their freelance outsourcing by 28.35% over the internet in the past five years.

Although, a very productive strategy the limitations of freelancing are clearly evident. For companies or individuals that have on-going work they need to outsource, using the freelance “route” would not be appropriate. This is where aaacbc.com and its Virtual Employees take over from the freelancer as the new future of the offshore outsourcing industry.

aaacbc.com enables employers from around the world to employ their very own full time dedicated employee from Cebu/Philippines. The advantage with this model is that you can reduce your costs significantly and unlike freelancing, continuously outsource your work. As a result, the Virtual Employee will serve a new offshore outsourcing market, one which will not eradicate but certainly reduce the dependency on the freelancer.

How Does it all Work?

aaacbc.com is a Philippine company and is the crucial third party that makes it possible for employers not only to outsource but to also actually employ their very own employee from Cebu Philippines. From start to finish aaacbc.com is present to make it possible for you to employ your own employee.

To begin with, the aaacbc.com recruitment department actively searches and then shortlists several candidates for the position you seek to fill. We then submit to you the shortlisted candidates resumes and you can then interview/employ any of the candidates. aaacbc.com can provide you with an employee in any office field, from programming, law and accounts to data entry, admin assistants and call center agents.

The infrastructure and facilities a Virtual Employee will have at his/her disposal will be far superior to those available to freelancers working from home. This is because once you select a Virtual Employee to start working for you; your employee will work for you from our office. aaacbc.com will provide your employee with fast broadband internet connection, a new PC, TFT monitor screens, scanners, fax and any software required, (including Microsoft office 2007)..etc. Furthermore our office is maintained to international standards with A/C, large work stations for the employees, our own generator for non-stop electricity supply…etc. We also provide your employee with a telephone which will have a local telephone number from your country, (a US/UK/Aus ..etc telephone number) thus making it very easy for you to call and speak with your employee. This in addition to instant messengers, email, Skype and video conferencing makes it possible for you to communicate, work with and collaborate with your employee. With sufficient technology employees can work remotely for you from anywhere in the world; working physically from the same office is no longer necessary. aaacbc.com creates an office environment whereby your employee can work directly for you despite your employee not working directly from your office. When freelancing or working with a freelancer the same level of infrastructure and facilities cannot be matched or assured.

When freelancing although one can outsource in a vast number of office fields there is certain limitations. For instance, one could not hire a call center agent freelancer or a nuclear physicist freelancer. Unlike with freelancing, with aaacbc.com there is no type of office employee you cannot hire. The reason for this is because firstly aaacbc.com itself recruits the employees and so locating/providing any type of office employee is of no difficultly. Secondly your employees work from our office where they are provided with all office facilities they need to work, e.g. a telephone with local US number from a call center agent. Thirdly, because the aaacbc.com business model is to provide full time employees a lot more employees in a lot more office fields are willing to work as Virtual Employees, (as opposed to freelancers) because of the job security. Hence, whilst hiring a freelancer to work as a call center agent is logistically unfeasible, aaacbc.com has the infrastructure to make this possible. Furthermore, where a nuclear physicist would not work as a freelancer because of lack of job security, with aaacbc.com such an employee can be provided.

Employer-Virtual Employee working relationship:

The aaacbc.com business model is that your employee works for you and with you just like an employee who works from your office. The only difference of course is that your Virtual Employee works for you remotely as opposed to physically from the same office as you. Thus your Virtual Employee will take instructions from you, report/submit their work to you and interact/collaborate with you. aaacbc.com simply manages your employee on your behalf. We pay your employee, provide all office space and equipment, monitor them whilst they work, provide any technical assistance if required and ensure they have everything necessary to work. aaacbc.com is furthermore a source of support for both employer and employee; on call and present at all times to ensure the whole outsourcing process runs smoothly.

When freelancing, one does not have the same level and interaction/collaboration with a freelancer. This is because freelancers work for clients on a short term basis and often work for several clients at once. Furthermore freelancers may not have all the office equipment and office infrastructure, (e.g. fast broadband internet connection) necessary to interact and collaborate effectively with a client virtually.

Accordingly aaacbc.com and Virtual Employees are the future of offshore outsourcing. The aaacbc.com business model creates an offshore outsourcing first, by combining the ability to outsource whilst also being able employ your very own employee. Hence employers now have another option to freelancing, as with aaacbc.com employers have the low cost that comes with outsourcing and the high effectiveness that comes through hiring your very own employee.

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A Freelance Sales Force Can Make The Difference

Make the right business connections in the world’s fastest-growing freelance marketplace.

Freelance sales are the perfect answer the agencies’ toughest questions. How can I get a talented sales force when I need it? You can’t exactly train someone to be a great salesman. The ability to relate to customers and instantly gain their trust is something that just doesn’t come naturally to most people. To those that it does come naturally to, they will usually prosper in a sales career.

Freelance sales agents can fill positions in just about any job that requires salesman. Used car lots often use freelance car salesman to produce results during slow times of the year or even just to boost sales on an as needed basis. Some firms may find it necessary to actually hire freelance sales reps when involved in the service industry. Different from used car salesmen, freelance sales reps and agents are a lot more involved in gaining and retaining clients. Holding meetings and writing up proposals are some of the tasks that a freelance sales agent will complete. These are the same tasks that a dedicated sales rep would handle, just without the commitment. By contracting out to freelancers, a company can choose a short of long term contract that doesn’t require the same kind of commitment that a full time employee may require. If work is slow, a dedicated or full time sales rep may still have to get paid. With a freelance salesman, they would not get paid.

In some cases there may be a necessity to sign a freelance sales rep to an exclusivity deal, which means they cannot sell a competing product. Basic protections like this make it much more simple to deal with the freelance sales agents. Equan is a great way for companies interested in global sales to extend their sales force into new markets with freelance sales agents.

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Breaking the Fear: Why Even You Can Freelance Successfully

First let me introduce myself. I’m John and I’ve been a freelancer in marketing for the better part of 12 years now. I won’t sit here and tell you that those 12 years have been a breeze. Truth is it has all been one big learning curve that I’m still climbing today. Plus I started from absolute zero knowledge of what I had to do to survive as a freelancer.

I can tell you that if you have a skill and do it well then finding freelance work and earning a decent income is easier than you think. The biggest obstacle in freelancing is actually you.

How is that? Well, you do need to be a hard worker and have a little mental toughness to succeed. By mental toughness I mean not giving up when times seem bad (it does happen). Often, lacking in just these two things is what dooms most new freelancers. These can’t be taught. You either possess them or learn to develop them on your own.

Once you learn the fundamentals of freelancing, though, you can be well on your way to starting out. The best part is that they aren’t complex. I’ll outline just the basics you need to get started freelancing through the internet.

First, Don’t quit your job just yet!

Many of those thinking of freelancing usually get stuck in the “still thinking about it” phase. Most of have jobs they may or may not like but earn a comfortable income. This almost always becomes the deciding part of whether to take the plunge or not.

The best way to get into freelancing is to try it out in addition to your job. That free time after your workday and weekends is plenty to working a part time freelancing gig. This way you can try freelancing virtually risk-free and still have an income to rely on. This is also the easiest way to tell if freelancing is the right fit for you or not.

This does have a major downside, though. You are giving up your free time and you will realize how valuable it is to you when your freelance work starts to eat it up. Therefore it is a major cost/benefit decision to weigh. There is always some sacrifice that has to be made when becoming a freelancer though.

The best option financially is to try it out in your spare time and see how it goes. It only costs that coveted free time. If you can afford to reduce your hours at your current employment and your employer is willing this may be a better option.

Where Do I Find Work?

One of the best places to immediately find freelance work is the freelance work exchange platforms in the web like www.equan.co.uk . These are websites bringing together freelancers and businesses looking to contract freelancers for a service. What they do is allow you to set up an account with your resume and search through a huge database of projects or job positions that you can apply for.

One major advantage of the FWE is that they offer many projects in a wide range of fields, but competition for projects is rather minimal. You still need to create a good resume and decent portfolio on any FWE to win these projects. Some small tricks, however, can simplify this and you’ll be working on projects in no time.

FWE’s usually require a membership fee, which can range from $15 to $75 a month which can be a very worthwhile investment, Equan on the other hand is for FREE but you can earn your fees back from projects rather quickly. Two of the largest and most reputable FWE’s are EQUAN platforms, oDesk.com, GetaFreelancer.com, Guru.com and Elance.com.

Professionalism and Hard Work

These will be your bread and butter in freelancing. The only way to grow as a freelancer is through your reputation and knowledge. That means you must do the following:

1) Do your job to the best of your ability and meet all deadlines.

2) Do not become complacent in what you do. Take on projects/positions that challenge your skills and force you to learn while you are doing them. The key, though, is to not to get in over your head. Know your limits, but stretch them a bit.

3) Always be in communication with your clients/employers. Never leave them in the dark on anything. If you make a mistake, admit it and apologize, fix it and move on. This does happen on occasion especially when first starting out.

Always Be Looking

You may hear that all freelancers suffer through slow periods, which is true to an extent. A big mistake is to be happy and comfortable working on a project only to find at the end of it there is not another one to continue on.

You must always be looking for future work, even if you already have it. Time should be set aside on a daily or weekly basis to look for projects to work on. Keeping a steady stream of work keeps that bank account happy in the end.

. . .

Of course there are many other tips and pointers to be listed but if you do the basics above, your freelance career will take off before you even know it. It will be a learning process, not only with the concepts of freelancing, but in your own career field as well. In a relatively short time you, however, can become an independent professional earning the income you want.

Good luck with it

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Freelance Bookkeeper – Better Than Hiring Your Own Bookkeeper

Freelance Bookkeeper is a good idea if a company wants to have more time to do their product enhancement and company building. Companies in America may prefer them over others because of proximity. But location doesn’t really have to be a problem though. New technology can now afford a freelance Bookkeeper to serve all areas of the world.

Hiring a freelance Bookkeeper would be good for the company because doing so frees them up from organizing their financial records. They will not need to get a bookkeeper for the company anymore so additional employee is hired. They no longer have to train new employees. They just contract a freelance Bookkeeper to do everything for them and that’s it.

The company has so many choices of freelance bookkeepers. But the company must choose one that they can trust not to misuse company financial information. A freelance Bookkeeper would be a good choice if he can do the job well and he has the expertise in the industry that the company hiring him belongs to. In effect, expertise is what the company gains too when they opt to outsource bookkeeping. They no longer have to train their employees and they immediately get the expertise when they hire a good freelance bookkeeper.

Another advantage of hiring a freelance Bookkeeper is that people who are doing freelance are usually very conscientious on their work because they know their success depends on it. Employees, on the other hand, may slack on their work at times. By hiring a freelancer to do the company bookkeeping, the company actually does avoid such situations. In effect, the company is able do away with waste and inefficiency. The company can hire a lean group of personnel and concentrate on producing their products and serving their market better. They would be able to serve their customers better and make them happier as a result.

A freelance Bookkeeper would generally be eager to please the company on their requests as long as they are on reasonable terms. This again facilitates easier and smoother business operations. Company decision makers will have the reports on time and also when they need them. So they will be able to do a better judgment in their positions when decisions are called for.

Freelance bookkeepers would also tend to update more often so this again presents savings on the part of the company. They don’t have to provide regular trainings for their staff because these bookkeepers are already doing it on their own and on their own expense. If the bookkeeper is able to integrate to the company’s way of doing business and the company accepts the style of the bookkeeper they contracted, benefits would definitely surface. The company would realize the savings they are aiming for. In turn, more resources would be allocated for product development, marketing and even customer relations. The company will be able to operate with least cost and in optimal ways. The company would have greater chances of growing and achieving company goals.

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Is Hiring a Freelancer Right for Your Business? (three Reasons Say “yes”!)

Who are they?

Freelancers work in almost every industry: construction, translation, finance, management, sales, design and many, many more. They’re your neighbor, your friend, the nice lady down the street, the man in the coffee shop always typing away on a computer. Many surveys indicate that most freelancers are male (according to Labor Statistics, by 2005 about 65% of the freelance population) and over thirty years old.

While many independent contractors work from home, just as many go to physical locations to work, either a private office or wherever the hiring company needs them. They are professionals just like you and I; a large percentage received on the job training or went to college to do what they do. Several hold degrees. Many stayed in typical work environments for over ten years before working for themselves.

In short, freelancers are business professionals who chose to, not work at home, but work for themselves. They are as trained and skilled as an employee would be, if not more so in some instances, and serious about their business.

Is hiring a freelancer right for your business?

Many business owners think hiring a freelancer just won’t work for their particular company. More than a few really do believe that independent contractors are a waste of time, money and resources. However, if this were so, if that basis of thought were true, would there really be over ten million freelancers running around? Would anyone who performed contractual jobs even have a business? For that matter, why are freelancers so in demand?

Reason #1: Cost

Monetary considerations are usually in the forefront of any business owner’s mind. Can we afford this? What are the initial costs? What’s the ROI? These thoughts come to mind in every area of business, including hiring a freelancer, but you might find yourself pleasantly surprised.

How much a particular freelancer will cost you depends on several factors: length of the project, difficulty of the project, location of the freelancer and level of technology are just a few. For instance, a freelance web designer may charge US$20 an hour or US$1,000 for a project no matter how much time they put in. As in any hiring situation, you’ll find those that cost less and those that cost more.

However, the difference between employees and contracted individuals is that the individuals can afford to charge less, and often do. Freelancers usually don’t have to worry about transportation, gas, or clothing (for work) costs. Business owners will not have to pay employee benefits or wage taxes.

In addition, freelancers come from all over the world. Depending on your monetary needs, you can use offshore outsourcing (contractors from out-of-country), national outsourcing or homesourcing (contractors are in your locality).

Reason #2: No direct employees

It isn’t normal practice that a business is built with nothing but freelancers, but it does happen. More than a few Internet-based businesses use strictly freelancers, either on a by-project basis or as a loose-knit company.

One of the main reasons is the lack of direct employees. There are no reason to worry about. If a contractor doesn’t perform as expected, there are no hire/fire policies to follow; you just don’t use them again. The working “atmosphere” tends to be more relaxed, while still maintaining professionalism. You are not their boss; you’re their client. It does make a difference.

In addition, there’s no need to hire office space; the Internet is the office space. With collaborative software, VoIP capabilities, email, messenger and many other online programs, it’s extremely easy to create a working atmosphere without the need to be physically there. There are no office politics and no personal dynamics between employees to deal with; the only “requirement” is that they get along with you.

Reason #3: Broad spectrum of specializations

There is, quite literally, a freelancer out there to meet any need. Freelance web designers who offer SEO/SEM as well; copywriters who also provide logos; virtual assistants who perform sales work – the list goes on.

Specialization is an excellent tool. Someone who knows web design forwards, backwards and inside out is an excellent resource; if you have all your content, this is the person to hire. If you have the design but need copy, a specialized copywriter will fit your needs. However, if you need website design, copywriting and SEO/SEM, you need a company – or a freelancer who has decided to learn as much as they can of fields related to their chosen area.

So, are freelancers right for you? Are they right for your business? The only person who can answer that is you. However, if you’re looking for ways to tighten the budget, narrow down the issues and broaden that bottom line, look into freelancing. You never know, you may just end up hiring that nice lady down the street.

Hire your freelancer on equan platforms – us – uk – de – in – hk – ph – just register publish your project, it’s all for FREE

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The Benefits of Working as a Freelancer

The term freelancer or freelance was first coined in the Medieval Age by Sir Walter Scott in Ivanhoe, while referring to “mercenary warriors”. Nevertheless, this term has acquired different meanings over time and nowadays one can easily associate it to the following definition: a person who pursues a profession without establishing a long-term commitment to any employer (overseas or within the country).

The phenomenon of the Globalization in which the World Wide Web can be located also brought something new to this term’s definition, since a freelance worker no longer deals with geographical constraints. It is then possible to freelance without being physically present: the freelancer can work to a one-time employer living overseas still they are only a click away.

As freelancers became more and more dependant on the Internet, and western companies increased outsourcing, virtual marketplaces such as equan ( www.equan.ph or www.equan.in or www.equan.hk or www.equan.us or www.equan.co.uk or www.equan.de ) started coming into light. Equan brings together hundreds of employers and freelancers from all over the world, who work on a per-project basis. This facilitator system accelerates the whole market process and provides key competitive advantages to both parties involved. It is a win-win situation both to employers and freelancers. Employers get good quality work at lesser costs and freelancers get paid a considerable amount for the project completed.

By going to these outsourcing platforms, freelancers can enjoy a wide variety of assignments, allowing them to choose the ones that better suit their areas of expertise. Examples are freelance writing, freelance graphic design, freelance programming and many other freelance opportunities. It should be noted, however, that greater emphasis has been placed towards the field of Information Technology but equan also provide job opportunities in other activity areas.

Monetarily speaking, the freelance activity can become a secondary income or even the first: one can earn some extra money in the spare time or go full-time instead. Recent studies have shown that part-time freelancing has become rather popular because it helps people paying their bills, as the cost of living is increasingly high. In addition, part-time freelancing enables to practice one’s profession, i.e. one can earn some extra bucks for doing what one does in the regular job.

Freelancers that decide to work via equan can soon take full benefit of the free escrow payment system FREE of charge, which has proved to be a brilliant idea. Basically it works like this: employers will put apart a particular amount into an escrow account on equan, for a certain freelancer; and both parties are able to view the payment in the escrow account. This payment system gives each party half of the control and the assurance that their welfare is protected. On one hand only the employer can release the amount from the escrow account, on the other hand only the freelancer can cancel this escrow payment.

Becoming a freelancer brings many other advantages at the personal level, since freelancers do not have to deal with some of the daily hassles regular workers usually face, such as: a fixed agenda, traffic, irritating colleagues and a cranky boss. By working at home, freelancers have more freedom to choose their work schedule, as well as their clients. Moreover, contrarily to what is generally believed, freelancing does not need to be a lonely activity, given that freelancers can decide to form agencies. The agency model is quite effective as it allows freelancers to accept larger projects that require skills outside the scope of one individual.

So, we invite you to weight up the benefits of becoming an online freelancer and doing pressure-free jobs that only take some time and effort…all from home.

Escrow payment system soon to come on equan platforms – what do you think about it?

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