The traditional telephone system relies on the user’s dedicated cable system, which is connected to the telephone company’s network.  When you subscribe to a phone service, you will be provide with a handset and if you want to use extensions for the other rooms of your house, you must all connect it to the main phone outlet in your home.  What about the VoIP phone system?

If you have already subscribed with an Internet Service Provider (ISP), then you can easily sign up for a VoIP service at any time.  Once you sign up, the VoIP service provider will not need to install exclusive phone cable system to your home. Instead, you will be given a software-based phone unit which will be connected to your computer or Router.  Once your VoIP phone is connected to the Internet, you can start receiving and making calls.

From this set-up, it’s easy to understand that the VoIP system handles voice calls through the Internet or using Internet Protocol Networks.  When you make a call, you will be connected to a gateway so that the number you dial can be matched with the appropriate IP address.  When the call recipient’s IP address is contacted, the call will be received from the VoIP phone unit at the other end.

Once the two gateways are open, voice signals are converted into digital form so that the data can be transmitted through the IP Networks before being converted again to their original form.  Thus, the VoIP Host company provides the gateway for the calls to be processed.

Since the calls are processed through the internet, the rate per call becomes a lot more affordable for business owners.  Even long distance calls can be made every minute of the day without breaking the budget.  Business owners who have subscribed with the VoIP service have reported that they were to cut down their monthly costs by as much as 50%.

Clearly, the VoIP phone system is ideal not only for bigger firms but for smaller businesses as well.  Get to know what VoIP can do for your own business and find out which VoIP Host can give you the best kind of service.

Building Business Credit with Business Cash Advance

Business cash advance is available for entrepreneurs who have a merchant account or who accept credit card payments. You can use your credit card receivables to obtain cash from a factoring lender. Most lenders offer 80% cash advance from the amount of the receivables submitted. The rest of the funds will be given when the cardholder completes payment.                                   

This method is ideal for keeping the cash flow steady. Instead of applying for a traditional business loan, a merchant can use the sales made from credit card-paying customers to get cash right away. Instead of waiting for the 30-day grace period given to cardholders, a merchant can instantly utilize the funds to cover for business expenses.

Points to Ponder For Small Business Owners

Who are qualified to get a business cash advance loan? Factoring lenders often require that the business meets the minimum value of credit card sales each month. The minimum amount may range from P2, 500 and above. If your credit card transactions do not reach this quota, you may consider other business financing options.

It is important to choose a legitimate cash advance lender. Watch out for lenders who offer instant approval online as not all lending companies that you can find on the web can be trusted. Spend time and effort doing research and make sure that you clearly understand the process.

A typical business cash advance application can be processed within two to four weeks. Take note that you should not be required to submit an upfront payment to get approved. If you are not familiar with how business cash advance financing works, you may seek help from a business marketing expert. You can also ask for recommendations from other entrepreneurs or business owners in your community or State.

Below are unfair provisions that you should watch out for when studying your office lease agreement:

• Charges for building repairs costs, insurance premium, property taxes, and other building expenses can increase during your lease term.

• Your landlord can terminate your lease contract without a valid reason. 

• There are disclaimers stating that building repairs being rendered to the tenants.

• There are lots of restrictions in using your office space.

Your Office Space Lease – A Binding Contract

A signed lease is a non-cancelable agreement so be sure that you have reviewed all your lessor’s Terms and Conditions before placing your signature. You need to check out if your lessor has provisions in case unexpected incidents happen.

For instance, what happens if you may be forced to give up the lease because of financial reasons? Would you be able to sublease the space to avoid defaulting on your lease?

Subleasing the office space you previously rent can save you from repayment obligations in case you decide to shut down the business. However, if the subtenant fails to keep up with the lease, you will still be responsible for the payment.

Breaking Your Office Space Lease Agreement

Do you think your landlord fails to meet the services and terms stated in your lease contract? If yes, then you have the right to terminate the lease on grounds of contract violation.

If these violations include terms and conditions that affect the operations of your business, then you have every right to question your lessor. Speak with your lessor and point out the stipulations in the contract that were clearly violated.

Your lessor can take action to straighten out the situation or change the lease terms according to your wishes. If you have reached an agreement, you can save yourself the hassle of having to pursue legal action. To make sure that your rights as a tenant are protected, consult a business attorney.

Nevertheless, disputes can be avoided by examining the terms of your lease contract right from the start. Consult a business attorney to make sure that the stipulations are legal and fair. If you have signed up a contract that contains unreasonable provisions, you may find it very difficult to complain and demand changes.

Leases Based on the Consumer Price Index

If your current lease is based on the CPI, you may try to negotiate with your landlord for adjustments.  For instance, you can ask your landlord to skip the increase on your first year and implement the annual rate increase after you’ve completed 2 years of your lease term. It is also important for your lease to have a Cap Rate or a maximum limit of increase.  A cap will protect you against excessive increase on your lease payments.

Other Money-saving Options

Find more ways to save money by cutting back on various expenses.  Consider if it’s possible for you to operate your business without leasing an office space.  Here are some tips:

Telecommute. For example, instead of renting a bigger office space, you may consider telecommuting instead.  Telecommuting means you can employ freelance workers or home based workers through the internet.  Thus, even if you need to hire more employees, renting a bigger office space won’t be necessary.

Share an office space. Consider sharing one office space with another small business owner.  This is a growing trend among businesses today because it enables a company to save as much as 50% to 75% on monthly lease costs.

Try hoteling. Hoteling is another technique done by many business owners.  With this set-up, a home based business owner hires employees who work from various locations like hotels, temporary office spaces or even their own homes.  This is an ideal arrangement for business owners who can’t afford to obtain long-term commercial lease spaces.

Hosted VoIP or VoIP PBX – Which to Choose?

A hosted VoIP service means a separate company provides the telephone service and other features related to it so there’s no need to hire an IT specialist to help you manage the system.  This type of telephone service is entirely dependent upon your internet connection.

On the other hand, a VoIP PBX system means all the management and maintenance will be taken care of by the business owner.  If you prefer to hire your own IT specialist to do this job for you, then you can choose this system.  Generally, larger businesses opt for this solution since they can easily afford to hire in-house employees to manage their own telephone system.

Why a Hosted VoIP System Fits the Budget

One of the biggest advantages of acquiring a hosted VoIP telephone service is cost-effectiveness.  First, there is no need to purchase any hardware or equipment to make the system work.  As long as you have a reliable computer system and a broadband internet connection, the system will work.

Second, you will not need to hire additional manpower to supervise the system.  All tasks associated with the management and maintenance of the system will be carried out by your VoIP host company.

There is also no need to hire extra personnel just to answer all calls and connect them to the appropriate extensions.  When a caller dials the number, he/she will hear a voice prompt giving instructions on which number to press to get in touch with the right person. You can save a great deal of money by not paying employee salary, benefits, etc.

It is easy to see why small businesses can afford the hosted VoIP service despite having a limited budget.  You’ll be glad to know that all the expenses you spend on enhancing your telephone system will pay off as you gain more sales and customers because of your dependable customer service.

More Benefits of a Hosted VoIP

Flexibility.  VoIP Hosts give their clients the option to make changes with their communication systems without difficulty.  If you need to change phone numbers or voice prompts, all you have to do is log in to your account using a secured website provided by your Host VoIP company.

Track your calls easily. You simply need to access your account to review the calls your company received for the day, including important details such as the time of call, the duration of the call, who received the call, etc.
Special functions to use.  You can use call features like voice mail, call conferencing, automated attendant, call forwarding, etc. – all are designed to make business management a more easier task for you.

Never miss important calls.  VoIP systems can automatically redirect unanswered calls to your voicemail box or voice email account so the caller can leave the message, and you can be alerted that a voice message is waiting for your retrieval.

Handle multiple calls simultaneously. The VoIP phone system makes it possible to attend to multiple calls simultaneously.  Calls are routed to the right extensions or forwarded to the appropriate number eliminating long call waiting time.

Enjoy lower call rates. Because the VoIP phone service makes use of the Internet, it is far cheaper to make calls than using a standard telephone line.

Available business hotline even during non-business hours. You can offer your customers with 24/7 hotline that can give them the information they need or point them at the right direction.

Never miss important calls. There is no need to miss a single call.  Even when there’s no one around to answer the phone, the caller have the option to leave a message in the voice mailbox or be redirected to your mobile phone.

Telecommuting is made possible. Do you have freelancers or independent contractors working for you from another location?  If yes, then you can surely use the VoIP telephone system to keep the communication lines open for a low cost.

Build-up your company’s image. A small business with a VoIP phone system can boost its sales and marketing potential by as much as 100%.  Undoubtedly, one of the first things that keep customers coming back to a business is excellent service.  You need to be ready to answer inquiries without keeping your prospects and customers waiting.

Simple and affordable system. The VoIP system does not require sophisticated gadgets in order to work.  Most small businesses use a computer and is already subscribed to an Internet Service Provider.  If you have a computer and an internet connection, then all you have to do is sign up with a VoIP hosting company.

Speak with your landlord.  This is a very important step for anyone who plans to break an office lease contract.  Discussing your concerns with your lessor will help you to decide your next action.  What is the reason why you plan to terminate the contract?  Is it because your business isn’t going as expected and you can’t keep up with your monthly payments?  If the problem is with regards to your lease payments, the best thing to do is negotiate with your lessor.

However, if you really think that leaving the space is the best solution, politely request your lessor if it’s possible for you to find a new tenant as replacement. If your landlord consents to let you go as soon as a new tenant has been found, see to it that all the details about this agreement is put into writing.

Without a written agreement, your landlord may insist that you take on the payment obligations, should the new tenant defaults from the lease.  This is why a formal turn-over is absolutely necessary and everything should be clearly stipulated in a new contract.

Sublease the place.  What if you landlord refuses to release you from your obligations?  In this case, you may request to sub-lease the place instead.  Sub-leasing means you will be finding a new tenant to replace you so that monthly payments will be submitted continuously.  Nevertheless, should the sublessee defaults from the lease, you- the first lessee will take charge of the debts.  When looking for a sublessee, one of the most important criteria you should look for is credit-worthiness.

Be Prepared to Pay Lease Penalty.  Regardless of how your negotiation with your lessor turns out, you should be prepared to pay penalty charges.  Your lender may choose to keep the security deposit you submitted at the beginning of your lease term.

The penalty charges that your lender can impose upon you must be stipulated early on when you first signed your lease contract.  Make sure that you carefully review your contract with your business attorney to avoid being taken advantage of.  On the hand, whatever penalty is stated in your agreement, you should be ready to accept the consequences for breaking lease before the completion of your lease term.