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When Dubai is mentioned, their gold and diamond collection is one of the first things to come to mind because it is a trend in the emirate. Referred to as the “City of Gold”, the place offers a cheaper cost of gold than most tourists’ home countries. Since Dubai is a popular international vacation destination, the influx of the wealthiest customers can be significantly considered if you want to start a gold business.Indeed, gold is an investment in Dubai as it drives foreign capital in the country. Unknown to many, it is the most profitable business since the precious metals keep their value, and the demand has been continually working every year. While Dubai has historically been a hub for gold traders, they also continuously contribute a significant share in the gold trading business in the UAE. If you are an investor, you should definitely consider setting up a gold trade business in Dubai. If you are not sure how, this article will help you delve deep before the onset of your gold business. With more knowledge and understanding, you can start making a profit out of gold, even in different departments.Where exactly in Dubai?There are different authorities and jurisdictions that highly support gold trading licenses in Dubai. Most of them can be found in Mainland and Freezone. Although there are many, there are three jurisdictions that stand out in Dubai where the highest concentration of gold traders can be found.First on the list would be the Gold Trading License in Dubai’s Department of Economic Development (DED), wherein the heart of the UAE’s gold market is established. This authority is how you incorporate a business in the most famous gold markets in the world, the Gold Souk in Deira. The mainland jurisdiction offers a local license via the DED if an investor opts to form a retail outlet in this area. They can have an opportunity for investors to open up a stall or even a kiosk in Dubai’s most popular tourist areas. Investors must keep in mind that before applying for another commercial license for gold business via the DED, they have to find a local partner who will hold 51 per cent of the shares in the company.The second choice for setting up a gold trade business in Dubai would be in the Gold and Diamond Park located along Sheikh Zayed Road. If you are an expat wanting to own 100 per cent of the business, this place is perfect for you as it is a free zone company setup. You can own 100% of your company with no taxes and have total resettlement of profit. The Gold and Diamond Park is one of the most famous retailers of gold and jewellery with over 90 stores, 118 purpose-built manufacturing blocks, and 350 offices. It is a convenient spot in Dubai City Center, with convenient access to all areas. You can incorporate a gold business company in this area by getting a license from Jebel Ali Freezone Authority (JAFZA).The third choice for your gold business in Dubai is through Dubai Multi Commodities Centre (DMCC), another Free Zone Authority. DMCC is famous for its Dubai Gold and Commodities Exchange (DGCX), DMCC Trade flow, and overall gold value chain.What are the steps?The next thing you need to know is how you will make your gold business in Dubai happen. Different authorities and jurisdictions require other processes and requirements, so it is not easy to have one. Although the gold and jewellery business is popular in Dubai, the government has created specific regulations. It imposes rigorous checkups on those who bring gold or other precious metals in the emirate to have a safe business environment. To guide you, we have listed some of the essential steps you should do to form a gold business company in Dubai..Come up with a Trade NameBefore you can obtain a license, part of its statutory requirement is to have a trading name. Having a trading name is a way for the government to know the business activity you will be carrying.Obtain a Business LicenseThere is no way to start a business in Dubai without having a business license. As mentioned above, you can choose to start your gold business in Dubai with the three different authorities like DED, JAFZA, and DMCC. They all require investors to have their business registered before carrying out their business activity. Unlike JAFZA and DMCC, which is in the Free zone, DED requires a particular requirement of having a local sponsor who will own 51 percent of the shares before he/she can obtain a business license. Usually, getting a license requires some of the primary documents:
Completed Application form
Passport copy of the proposed owner(s)
Two copies of coloured passport photosChoose your Business PremisesThere are various premises to choose from, especially if you opt to set up in the free zone area. They can offer you different offices or facilities that will best suit your business requirements. This process can be done right after you have secured your business license.Obtain your VisaObtaining a visa can be achieved with the help of your service provider. Visas are required, especially if you have to hire an employee. As the holder of a UAE business license, you also have the power to sponsor others for their visa too. The number of visas you can apply for will depend on the size of your company or business, the type of company you choose, and your earnings.Since Dubai has proven itself as a healthy and sustainable environment for jewellery and gold business both local and international investors, it is safe to say that starting a gold company in Dubai is highly profitable and can provide growth for the business.Given all the information above, you may think that starting a gold business in Dubai is not overly complex. Doing it alone may still lead you to troublesome situations and unexpected expenses; that is why it is essential to seek professional help. In IBG Consulting, we guide you based on knowing the legal proceedings and business structuring in Dubai. We have a pool of talented consultants that will help you start your gold business in Dubai or anywhere in the UAE. If you want to know more about how you can create a gold business in Dubai, contact us or visit our website for a consultation.

Spa consulting companies regularly receive inquiries from people who are interested in becoming a Spa Consultant. Changes in the economic climate have made an increasing number of spa industry professionals consider a career change to consulting.Spa consulting is a business, plain and simple. There are professionals who are ready to begin a consulting career and have knowledge and skills that will provide great value and benefits. However, most people have not thought it through as a business and should spend more time analyzing the opportunity before making such a big decision. Be optimistic but realistic especially when it comes to your income, financial security, career goals and enjoying the work you do.The best Spa Consultants have strong business skills, an in-depth knowledge of operations and the development process as well as previous financial responsibility for a spa or related business. They have information and skills that translate into valuable benefits for a client.Being a Spa Consultant can be rewarding work. But it’s not easy, relaxing or glamorous. Carefully consider if you have what it takes to begin working in this profession and if the timing is right before making this or any career change.Here’s an Insider’s View on what you should ask yourself if you’re considering becoming a Spa Consultant:
Are you prepared and cut out to be an Entrepreneur?Do you have the right stuff to be in business? Many Spa Consultants are business owners and/or Independent Contractors for Consulting Companies. If your goal is to work for an established firm, your resume should be top notch and those firms need to be growing rapidly enough to warrant additional assistance.Ask yourself:
Are you willing and able to work 12-14 hour days and weekends to meet deadlines?
Can you risk your personal finances to start the business and keep it running?
Can you “close the sale” when presenting your services to prospective clients?
Does your schedule allow for travel that may last a day, several days or weeks at a time?
Can you effectively turn your plans into goals and actions?
Do you have the technical skills to accurately complete the work?
Does the business have profit potential both short term and long term?
Do you have a plan if the business is not successful?
Can you be flexible in your plans, services and fees when the market changes?Is this the right time to make a career change – emotionally and financially?No matter how good change may be and how excited you are about it, change can be stressful. Though the job market and economy may leave you feeling insecure or overwhelmed with your current job, determine if you can emotionally and financially handle a career change right now.Ask yourself:
Am I better off looking for a similar job with a different company?
Will it be better to create a business that is similar to my current job?
Can I emotionally and financially handle the ups and downs of consulting?
Can I emotionally and financially handle starting a business?
Do I have enough money saved (or alternate source of income) to live for at least six to nine months while the business is started and grows?
Are family and friends supportive of my plans? While not absolutely necessary, it sure will make your life a lot easier. Find at least one person who you can turn to for support.Can you withstand unpredictable monthly income?For all the positive attributes associated with owning a consulting business, by far one of the hardest things to deal with (especially for a new business) is unpredictable monthly income. When you work for a traditional company there is income stability with a regular paycheck. You know how much money you will make and can plan accordingly. This is very appealing and necessary for many people.With consulting, there is a time lag between getting the work, doing the work and getting paid. Can you handle that? At this point we won’t even discuss clients not fulfilling contracts and delayed or terminated development plans.For example, you get a contract with Aunty Aloha’s Day Spa on May 1st. That’s May Day in Hawaii and everyone is busy with flower lei contests so you can’t get in touch with the client. A week later you finally connect and they snail mail you a deposit. On May 20th you begin working on their Menu of Services which includes researching and choosing product vendors along with creating signature services and writing all the text. The client wants product samples. Vendors prove to be harder to connect with than expected. The process takes 3 weeks and still needs client approval.The client wants changes and the product line must be organically made in Hawaii which was never mentioned before. Research takes more time and you need to review samples but amazingly you’re done in two weeks. The final menu is submitted on June 24th and approved a few days later. You send an electronic invoice at the end of the month. They take 30 days to pay and mail the check. You receive payment on August 1st, a full 3 months after the contract is agreed to. This is not unusual. In fact, it’s actually a bit quick. Meanwhile, you’ve been hard at work five to six days a week building the business but don’t see the financial effects for several months.The moral of the story is…Just because you may be good at what you do doesn’t make for immediate financial success. It takes time to build the business and time for clients to pay.Do you really want to be a Consultant or do you just want to do something different than what you’re doing now?Some people really are cut out for consulting, love the work and excel with a variety of projects and clients. Meeting with prospects and selling their services is thrilling, not scary. They understand the pros and cons and continue to be excited and passionate about the spa industry.If knowledge truly is power, do you have enough knowledge about consulting to understand why you want to do it and how you will get started?Ask yourself:
Have I spoken with any Spa Consultants about their experiences?
Have I researched the field of consulting in general?
Do I know the pros and cons of Spa consulting?
Do I know what to expect in terms of working with clients?
Do I think of consulting as a serious business venture or as just another way to be or stay in the spa industry?
Is consulting more or less attractive than other possible opportunities and why?
Do I really want to be a Spa Consultant or do I just need a job change from what I’m doing now?Have you done a business plan and know the cost to start-up and operate?You may be thinking, “Are you kidding? Write a business plan? I just want to be a Consultant. Why should I go through all that time and effort?” (Hint: you’re going to recommend that clients do this)A business plan is a road map that is part of the process of preparing for a business. Even if you don’t need it for funding, it will provide you with a valuable and thought provoking learning experience. Be honest with yourself during the process as you navigate thinking through your business opportunity, concept, competition, financial risk & plan, marketing plan, and who will be involved.There are many low or no cost resources to assist you with creating a business plan including books, software, websites and agencies such as the SBA and SCORE. Don’t overlook the library as a free resource.Even if the thought of creating a business plan seems overwhelming, a good place to start assessing the feasibility of your business is looking at the cost to start and run the business.Begin by researching the costs for the following:
Start-Up Costs – business license, legal fees, business filing fees, etc.
Fixed Expenses – administrative, office rent, utilities, insurance, permits, salaries
Variable Expenses – advertising, marketing, website development, travel, etc.
Owner Equity – how much money do you need to draw from the business monthly to live on?Great news! Through your research, you may discover new and better ways to provide services or ideas for other businesses!What skills, information and resources do you offer that is of value?This is very important. Pay close attention. Many people considering becoming a Spa Consultant believe that they have what it takes because they have worked in the industry as a Spa Director or Manager, Supervisor, Vendor Sales Rep, Massage Therapist, Esthetician or Make-up Artist. These skills are indeed useful. However, developing a spa or fixing a troubled business is a much different ballgame and other essential skill sets are necessary.Some of the experience from those jobs will translate into needed skills. Being a Spa Director or Owner for multiple openings of different sizes, in different locations, with operations experience and financial responsibility will give you a better starting point than other jobs.However, there are many tasks associated with spa consulting that there is very limited exposure to while working in a spa regardless of your job description.This includes:
Architectural and Design Review
Space (square footage) Allocation
Feasibility Study
Market Study
Competitive Set Analysis
Concept Development
Critical Path Development
Sales & Marketing Plans
Retail Planning & MerchandisingDo you know what services to offer and what fees to charge?To better understand the services that Spa Consultants offer, go to the websites of several different companies. Evaluate their services then determine how your services will compare.Ask yourself (and be honest):
What is the definition of each service that is offered?
How will I describe each service offered to a prospective client?
Which services do other companies offer that I can offer?
Which services do other companies offer that I am not qualified to offer?
What type of research and work goes into each service offered?
How long will it take me to complete the work that is offered?
What is the final document or deliverable given to the client based on each service?
How can I learn how to efficiently and accurately provide these services to clients?
If you were the client, why would you choose to hire a Spa Consultant to do the work?It’s easy to find what services are offered because they’re listed on websites. Most companies don’t give full descriptions of services online but you still get an idea of what is offered.What is harder to determine is pricing for the various services. If you can’t find out what other companies are charging, how will you base your own fees?Here’s the answer – it varies from company to company but there is a general range. There is no standard and each company sets its own fees. There are hourly rates and a range of rates per deliverable. Pricing isn’t necessarily based upon quality of work but rather what the consulting company feels their work is worth and what the market will bear.How will you differentiate yourself from other Consultants?The Spa Consulting field is likely much larger than you think. The International Spa Association (ISPA) website lists 82 companies as Full Service Consultants. Frankly, some of those companies listed are vendors and not consulting companies. Just for kicks, Google “Spa Consultant” and watch the 82 companies soar over 100. However, safely there are 25 consulting companies who are will be your top competitors.How will you differentiate yourself especially from those with more industry experience, more consulting experience, an established presence, and more money in the bank?Ask yourself:
What strategies will I use that will provide an edge over competitors?
Is there a service that competitors are currently not fulfilling?
What adjustments have competitors made to be successful in a changing economy?
Who are my competitors?
How do my competitors differentiate themselves from their competition?Where and how will you find clients?This may sound very basic, but since consulting is based upon working with clients, do you know where and how you will find clients? The best way to grow the business is through further work with current clients and their recommendations and referrals. But that’s a Catch-22. How can you build it this way without an existing client base?Part of the answer is with your Marketing Plan. Some clients find Spa Consultants on the internet. Consider what you need to do and how much you will have to spend to attract them in this manner. Put yourself in a client’s shoes, how would you find a Spa Consultant?Ask yourself:
Which companies and associations can you affiliate with that will provide referrals?
Do you have the ability to speak at conferences and write articles for publications?
How strong is your network within the spa industry?
How will you build a list of prospective clients?
What is the most effective way to contact them?
Do you have collateral and a website to back you up?
Which conferences will you attend to meet prospects?
How much will it cost to help clients find you?
Are you willing and able to work in other countries?Your OptionsThere are two basic options for consulting – work for yourself or work for a company. Both have pros and cons. If your consulting experience is limited, you have a need to work with others to stay motivated or aren’t confident in your sales skills then working for a company is beneficial. If you have experience, prefer control over decisions, are self motivated and have the skills to run your own business then working for yourself is a good option.If you’re convinced that working for an existing company is the best option, contact consulting companies and find out if they are hiring. If they are, ask what qualifications they require for their Consultants.Business PlanningCongratulations if you’ve made it this far! The information provided was meant to be thought provoking and supportive of those considering a career change into consulting. I believe that competition is healthy and regularly support and recommend the work of other Spa Consultants who do a great job.That said, it’s hard to watch other Consultants struggle because they didn’t properly plan for their business, were unprepared and quickly got in over their heads. They not only hurt themselves financially and in their careers but also hurt the reputation of the spa consulting profession.Even for successful Consultants, having the ability to adapt to changing economic conditions, development, services offered and client needs is imperative.If you believe that spa consulting is right for you, here are business planning steps to help you get started:Get your information organizedGet help – Small Business Administration http://www.sba.gov, SCORE http://www.score.orgWrite a business planHire an Attorney – Legal information, business structure, create a client contractDetermine legal structure for business – LLC, Corporation, Partnership, etc.Choose a business nameSecure a domain name for websiteChoose a business office location, virtual office, or home officeObtain business licenses and permitsGraphic/Visual Identity – Logo, business cards, letterhead, brochure, etc.Bank Account – Set up a business accountFinancing – Determine how the business will be funded and what you needBusiness Insurance – Investigate insurance optionsAccounting – Who will do bookkeeping, taxes, cash flow statements?Equipment – Determine your needs and purchase or leaseMarketing Plan (part of business plan)Advertising Plan (part of business plan)Website DevelopmentCustomers – Build a list of prospective clients to contact and plan of actionJoin industry and networking associations

When you inspect a commercial, retail or industrial property, it is the physical aspects of the property that should be well explored and documented. These matters below are some of the key issues for you to review before you complete the property listing or promotion.Tenant compliance to physical building use: The tenants to a building may be obliged to undertake compliance to the way in which they use the building. Such matters will be detailed in the lease. You should read the leases in this regard to identify these things.

Antennas and aerials: Some buildings feature communication antennas and aerials. In the first instance these should have been approved by the landlord and in some circumstances the local planning authority. The antenna or aerial installation will have been made on the approved structures with supporting plans and documentation together also with access restrictions and risk signage to prevent people in the area being exposed to radio frequency radiation. You need to know that these things have been correctly handled.

Asbestos: It is common knowledge that asbestos is a hazardous building material that still exists in buildings constructed prior to 1990. From that time onwards, it was largely avoided and prohibited as a construction material in most buildings. Originally it was used as an insulation material in areas including electrical switchboards and also on the beams and columns of the building structure as a fire resistant material. It is therefore quite possible that you will sell or lease a building in which asbestos is still located. In your town or city there will be legislation rules and regulations that apply to the existence of asbestos. It is necessary that you get information from the building owner regards compliance to Legislation in this regard.

Asset replacement value: With commercial real estate properties, it is common for regular valuations to be undertaken by the building owner for insurance purposes regards asset replacement. This type of valuation would be applicable in the event of a fire or building disaster. You can also get building replacement values from information sheets provided by local quantity surveyors. You can usually obtain these from the internet. Importantly the construction costs and replacement value need to be applicable to your location given the costs of sourcing the construction materials and the labour.

Building Code Compliance: When buildings are first constructed they are done so to the current building code. As time progresses the building code changes and it is sometimes necessary for existing buildings to be upgraded to current code. A good example of this is the need for disabled access to buildings and internal disabled facilities. When you inspect and list a building you should identify if any such notices under the building code currently exist. A note of caution here; when a building is put through a major refurbishment, the planning authority may regard the refurbishment activity as a trigger for a code compliance upgrade. This can be a large cost. A quantity surveyor is the best person to consult on costs of this nature.

Floor and site surveys: When working with investment properties it is the internal lettable space that is of prime importance to the generation of rental and occupancy. All the leases for the tenants will be linked to the survey plans and the net lettable area therein. For this reason you should ask to see the survey plans for the building and the lettable space. You need to know that they are accurate and up to date at the time of sale or lease. Part of this process is to inspect the property with the plans so that you can identify any discrepancies. In all cases of error or concern with the plans you should get a building surveyor to give assistance and guidance.

As Built Drawings: Every building has a set of plans that were approved for the building to be constructed. They are a great source of information and cover, structural, hydraulic, electrical, mechanical, and lighting layouts. They are an excellent source of information on which you can base your leasing strategies.

Building approvals and permits: Does the building still comply with the original building permit issued by the building authority? Most particularly does the use of the property still comply with the approval as granted? It pays to get a copy of the current building approval when possible because a wise purchaser or tenant will want to see it.

BMU: This stands for the ‘building maintenance unit’ and is likely to exist in multi level buildings. The BMU is the device that hangs over the side of the building to clean the exterior and the windows at different times of the year. Importantly the BMU has to be safety compliant and also approved for use. When you know that the building has a BMU, it is wise to ask about its use and approvals.

Certificates of Occupancy: When a building is first constructed it is inspected and certified for occupancy. The certificate of occupancy is granted by the local building approval authority. From that point onward the occupancy of the building must comply with the approval guidelines. It is possible that the certificate of occupancy can be withdrawn at any time if the building is deemed unsafe or has been damaged. It is therefore something that you would question if doubts about the building exist. In such circumstances get a copy of the certificate of occupancy.

Development Approval: When property development is a consideration on the property, seek copy of any existing development approvals. They will stipulate the type of development that has been approved, the elements needed to comply with the approval, and the time line. Properties with existing development approvals may be attractive to purchasers that want to undertake new construction and property developments. You will also need to know if the development approval is transferable with the property to a new owner.

Disability and Discrimination Notices: Whilst the commercial property is simply a building constructed at a certain point in time, it is possible that it does not now comply with the current disability access codes and access provisions for buildings of that type. You need to know if any orders have been applied to the building by the building authority for compliance to new disability codes. If any orders exist, it is likely that they will have to be discharged prior to any building sale or lease.

Electrical Services: All electrical services in the commercial property must comply with current standards of electrical installation and maintenance. In such circumstances a contractor will normally be undertaking inspections and maintaining a log book for this purpose. If in doubt (and particularly with older buildings), call in an engineer to advise. Thermal scanning of switchboards in older buildings is a good practical processs to identify if matters of breakdown and heat could exist.

Electromagnetic Radiation (EMR): In some properties EMR can be generated from plant and machinery (such as the power feed for lifts or mobile antennas on the roof of the building). This then becomes a safety issue for people on site and also will be notable in the poor or erratic performance of sensitive electrical devices such as computers. When this problem is noted it is necessary to involve engineers to advise you. It is also common for barriers to be installed in the area that is involved in EMR.

Environmental Risks: In most locations there will be a register of contaminated sites and properties that do not comply with the environmental guidelines. Ask about this when looking at new properties. The most common issues in this regard are tanks in the basement that were used to store heating oil or diesel. They may be now redundant but they are regarded as an environmental risk and will need to be remediated.

Essential Services Certification and Compliance: All buildings need to be compliant with fire safety regulations. This can include, sprinklers, smoke detectors, smoke dampers, exit routes and signage, evacuation plans, fire hoses and hydrants, and the list goes on. Importantly all of these essential services systems in a building are regularly checked for compliance by qualified tradespeople. The results of the regular tests are maintained in log books on site. It is wise to question the compliance and checking process. It is something that can hold up sale and settlement.

Facade and Cladding: Given the large nature of commercial buildings, it is common for the exterior of the property to sometimes leak or fail. Deterioration is also an issue in the older properties. Whilst you can do your own visual inspections you are not an expert in building construction, and therefore it is sometimes necessary to call in an engineer to give qualified comment and guidance. The integrity of the building fabric will be of concern to the purchaser. In the case of older rendered buildings it is common for rainwater to penetrate cracks in the facade or walls, and cause the render or the concrete to fall away. This process is called ‘spalling’ and if noted will require engineer comment. It is regarded as a risk to the public and people on the grounds that are accessing the property.

Fire protection systems and compliance: Many buyers of a property will want to ensure that the property does comply with safety codes for building occupancy. Part of that will be formalised and operational systems such as building evacuation plans. It pays to ask the seller of a property as to their establishment of the evacuation plans and who is controlling the regular tenant drills and practices. This is highly important in a building with multiple occupants. In such circumstances the landlord is responsible for establishment of the plan and its integration to the tenant’s occupation. The lease for each tenant will also refer to their involvement with the fire safety systems and evacuation processes.

Geo Technical Surveys: This will be more relevant with land and development sites given that the property and building is still to be established or redeveloped. Has the property had such surveys undertaken? If so what is the status of the survey and the report? If a property is located in an area that appears unstable or if it is on sloping or rocky land, the report will be important to the future of the property. The geo technical report can help with the understanding of construction costs and strategies.

Historic site listing: If the building or the property is listed on a register of historic sites then you need to know what this means to the future of the property. Restrictions and limitations can be imposed on future property changes because of the heritage listing. This will add to the development costs and approval processes. If in doubt consult with the local planning approvals authority. If you have a property that is so affected or listed, then you will need an expert such as an architect to assist with the future considerations and costs for the property.

Hydraulic services: This is the plumbing and drainage systems for the property. You can ask for the ‘as built drawings’ of the property as part of your inspection process to understand how these systems integrate into the building and service the tenants. Usually the hydraulic systems will be centred on the core of the building. If a tenant wants to connect tea rooms and kitchens to the system then it is an engineering issue and needs the landlords approval to the process.

Indoor air quality: For some older buildings this can be a concern for occupancy. Properties located adjacent to major traffic corridors will also be high on the list when it comes to air quality concerns. Today tenants are very aware of the ‘sick building’ syndrome and its impact on the workforce both physically and legally. Reports can be obtained from the air conditioning contractor to assist with this problem, and if greater concerns are identified then engineers can be sourced.

Lead paint risk: Older buildings may contain surfaces that are coated in lead based paint. This has been proven to be a health concern in occupancy and will deter tenants. When in doubt see expert opinion from an engineer.

Legionella health risk and safety compliance: Building owners must comply with the local health regulations regards the health and function of the air conditioning system. Most particularly the issue of legionella is of more concern when there is a ‘cooling tower’ that functions in the air conditioning system. It is the ‘cooling tower’ that can become infected with the bacteria and then spread the infection through the building. Larger buildings will commonly contain ‘cooling towers’ as that is the accepted way to achieve economical function of the air conditioning system. The air conditioning consultant that maintains the air conditioning system for the building owner should have this health risk in check. If in doubt ask the questions. When a property owner self manages a building it is possible that they will either not have the knowledge to do so correctly, or they will cut corners as they do not want to spend money. This is a trigger to ask questions in the property sale.

Plant Life cycle: In older buildings the economical and functional life cycle of the plant in the building will become an issue. It can be a costly concern for the building to operate into the future. Buyers will need to assess the stability and function of the plant in the building. It pays to get an engineer’s report of the existing plant and machinery before you go to sale when transacting older buildings.

Maintenance contracts: Every property will have a selection of maintenance contracts and systems underway. Some of these will pass through settlement to the new property owner as the item under contract involves the amortisation of costly machinery and repairs. A good example here is the lift maintenance contract in the building. Cleaning contracts are also large expense contracts in major properties. As part of the property listing process it pays to understand the contracts that could fall into this category of ongoing cost to the buyer. If they do exist, then get a copy of the contract(s) and review it (them) for details and impact on the sale.

Mechanical services risks: The larger the property, the larger the risks when it comes to the mechanical services function and compliance to current operational codes. In the sale of larger properties it is likely that you will need an engineer’s report on the mechanical services before you move towards sale. The engineers know what compliance issues exist and how they should be assessed. Have the report available to provide to serious and qualified buyers if they ask any pertinent questions.

Nickel Sulphide Inclusion: If you are selling buildings with a lot of exterior glass it is possible that you will have heard of this problem or seen something about it elsewhere. Most particularly nickel sulphide (NS) is an impurity of the glass manufacturing process. NS when it exists in glass it will likely cause the glass to break within 5 years or so of manufacture and this is particularly the case if the glass is on the exterior of the building where it is under the stresses of daily heat and cooling. Given that architects like to use extensive glass on the outside of buildings, the problem of NS breakage is common. If the building is multi storey then you can have a risk event to members of the public that pass the building at street level. If you sell a building with a history of NS then you will need an expert to get involved in a detailed property report on the glass involved and installed in the building.

Noise emissions and risks: When working with any commercial property, the problem of noise emissions should be considered. Noise can emanate from the subject property or even neighbouring properties can also create the problem. This will obviously affect the ability to let the property and may create legal action or controversy whilst the property is occupied. Should the tenants in the property be the source of the noise then have the lease document create controls on the tenant in that regard. If you are selling a property with noisy tenants then you should review the lease documentation for similar protection to the purchaser or property owner. Industrial properties are most particularly the properties of concern in this category.

Occupational health and safety: The local building code will require compliance to occupational health and safety rules and regulations. It is appropriate to ask the building owner to identify any matters of noncompliance or irregularity. If in doubt seek the assistance of a building engineer or property inspector that is familiar with the health and safety codes in the building type that you are handling.

Machinery risk and unsafe workspaces: This is normally the concern of the tenants that occupy the premises given the way they install and use the machinery on the property as part of their business operations. There are however situations where the landlord may also have responsibility and this regard. This can be in areas which create risk or injury to people. It may be enclosed spaces where people can enter and be accidentally locked away then unable to escape. It can also be areas of danger such as radio frequency exposure from antennas on the roof of the building.

Ozone depleting substances: This will be in the form of gases that damage the environment. Older air conditioning plant can be affected by the problem. Building owners should have the plant maintained within current plant and machinery codes to control the threat. A report from an engineer will assist here.

Polychlorinated biphenyls: PCB’s are a group of manufactured organic chemicals that contain chlorinated chemicals (known as congeners). Concentrated PCBs are either oily liquids or solids and are colourless to light yellow in colour. They have no known smell or taste. There are no known natural sources of PCBs. PCB’s are residual contaminants from industrial processes and remain in the soil and on the property for many years unless correctly remediated. Given that industrial property was usually the source or storage of PCB’s, it still remains a problem today for real estate agents and brokers as they sell older properties. PCBs were originally used extensively in industry as they are a good insulating material. They have been used widely as coolants and lubricants in transformers, capacitors, and other electrical equipment. The manufacture of PCBs stopped generally around 1977 because of evidence that they build up in the environment and cause harmful health effects. Products containing PCBs are old fluorescent lighting fixtures, electrical appliances containing PCB capacitors, old microscope oil, and hydraulic fluids. During the time that PCBs were manufactured, there were often no effective controls on disposal.

Plant and equipment lists: When selling a commercial property, it is necessary to itemise the plant and the equipment across the property. This would normally be done in conjunction with the building engineer suitably skilled in the process. If your property is complex and large, it is a wise move to get this list creation process underway early.

Registration of plant and equipment: Some plant and equipment within the building is required to be registered with the local authorities. This is generally because that plant and equipment is regarded as a threat to the environment or to the public at large. The most common listings of plant and equipment are storage devices. The authorities like to know what is being stored on the property and where the storage devices are located. It can also be the case that the storage devices are suitably certified and registered the each year for compliance to matters of structural integrity. If any plant and machinery is certified in this regard, you should seek a copy of the latest certificates of registration.

Boundary survey: If the boundary of the property shows irregularity or is not clearly defined, then it is appropriate to get a surveyor to peg the boundary points and provide a plan of the site. Real estate agents and brokers should not give any guarantees as to the locations of the boundary of the property. If the buyer requires this information, then get a surveyor involved for the buyer’s satisfaction.

Standby generator: In larger buildings it is common for standby generators to support essential power circuits in the building. This does not mean that full power is supported to the tenants in the event of a power outage. If the building has a standby generator, it is appropriate to ask for clarity on what circuits of energy are supported by the generator. This information should be supplied to tenants in the building and any purchasers of the property. It is likely that the leases for tenants will make reference to the standby generator and the way it operates. If the building operates the standby generator to support 100% building demand by then it is usually tested annually in this regard. Certificates of compliance can be sourced. In large shopping centres it is common for standby generators to supply 100% power for a period of time (usually 30 minutes) in the event of a power outage. This allows the tenants to safely shut down their business and the occupants of the building to be correctly evacuated at the time of the major power outage.

Flooding risks and storm water: The local environment can present flooding risks. This can be identified from the location of local creeks and rivers, the coastline, and the levels and slope of land across the property. When in doubt, seek the assistance of property surveyors to clarify the risk of flooding locally and to the property. If the risk of flooding does exist and is known to all parties, it is necessary to apply restraints on occupancy so that the environment and the property are not damaged. These restraints will be reflected in the leases for the property. In such a situation, you will need to review the leases prior to any sale.

Structural risks: Every constructed property has the potential for structural risks. The older the property, the more likely this is to occur. The exterior facades of buildings are a common culprit here. The purchaser of a building will not want to assume or acquire structural risks, for this reason you will need to get engineers’ reports prior to moving to sale if issues are known or have been experienced on the property. It may also be necessary for the landlord to remediate the structural risk prior to marketing a property.

Synthetic mineral fibre: Most particularly this will be the installation or existence of Fibreglass and similar manmade fibres. Whilst this may not necessarily be a risk to the occupants of the building, it should be understood and documented by engineers to the building.

Trade waste: The tenants to the property may very well produce hazardous trade waste as part of their business. If this is the case, you will need to identify the controls and processes that the tenant uses to comply with property usage. Certification and regulation regards the hazardous trade waste will be an ongoing matter to which the tenant must comply. It is likely that the leases to the property will impose restrictions and obligations on the tenant in this regard. When in doubt, read the leases to check what is required of the tenant.

Traffic management: The property could be located on a major or minor road which has restrictions regards traffic access. This can apply to both the time of access and the points of access. If the tenant or the owner of the property requires extensive deliveries, this can be an issue. When in doubt, consult the local planning authority and highways commission for details of access rules and regulations. Also enquire as to the impact of any rights of way and easements which may apply to the subject property.

Underground storage tanks: Whilst we have mentioned this elsewhere, the existence of underground storage tanks is regarded as a hazard to the environment. These tanks are usually certified and regularly inspected. Awareness and disclosure of the tanks existence is imperative.

Vertical transport compliance: In multilevel buildings, vertical transport will be achieved through mechanical lifts or escalators. These mechanical services are regulated as to safety and operation. Annual certification and regular contractor maintenance will ensure compliance. Reference to the contractor involved will allow you to cover this issue and ensure compliance prior to sale.

Building warranties: When a building is newly constructed, or plant and machinery is newly installed, or tenant fitout is newly installed, the works involved will usually have an existing warranty for a period of time. If these warranties exist, they should transfer to the new owner of the building at the time of sale. Your job is to enquire as to the existence of any warranties as you move towards sale.

Zoning of the property and itcompliance: The property will be located in a zone detailed in the local development plans. Importantly, the property and its usage must comply with the zoning. If the property is a non-conforming or illegal usage to the existing zoning, then this should be detailed, advised, and acknowledged by all parties. As to how the contract is designed for such a sale, is up to the solicitors for both parties. In most circumstances of this type, special conditions are constructed which explain the intentions of the parties involved.

When you want to sell your business, one of the most convenient ways to do it is over the Internet. But, this can also present problems in itself. You could be bombarded with a bunch of different offers in a short amount of time. Here is how you can sell a business online and make sure that you get the best experience out of it that you possibly can.When you sell a business online, the market is huge. Your first step is putting up ads to draw attention to your business. You can find great sites where you can post these different ads to draw bids for your business. These ads will usually come at a very affordable price on most sites.You may get a lot of different offers for your business that are all over the ballpark. And you also may get a lot of fake offers for your business. This is because of the sheer volume of traffic on the Internet. This can sometimes stress a person out just a little bit when they get offers like that all in a short amount of time. But, don’t be deterred by this.Sort through the offers that you get with a lot of logic. This is the best way to sell a business online. You already know what your business is worth and you know what you would like to get for it. Eliminate any offers that stand out among the others as being incredibly high or low. Also, eliminate any offers that you get that will cause you to lose money in the process. Those won’t do you any good.You will probably be left with a bunch of offers. The next step is to communicate with those that have made the offers. This will give you an idea of who is interested in your business. You can eliminate a few just for sheer lack of communication. You need to make sure that the people that you consider as buyers for your business, no matter how big your business is, are genuinely interested in buying your business.You can also get some people to up their offers if you hint that there are competing offers. Competition will always cause people to step up the game a little bit if they are really interested in your business. You can make the best decision financially for you from what you learn through the communication with the various possible buyers. Always, when you are in doubt, go with your gut. Go with the person that you believe is most interested and will pay you the quickest out of all of them.When you sell a business online, you have your work cut out for you even though you will get much more interest. But, you can successfully do it if you follow the methods discussed in this article to have the best possible results from your attempt to sell a business online. You will get them if you proceed carefully.

Personal Loans are called unsecured loans because you don’t have to provide any collateral or security against the loan. Because of that reason, the lenders go through every Personal Loan application with a fine tooth comb. If even a single factor does not match their eligibility criteria, they reject the application. The banks would not want to risk their money unless they find everything 100% perfect.
So if your application was rejected, it is most probably because of any one of these seven common reasons:1. Your Credit ScoreHave you been paying your EMIs and credit card bills on time? If there is any chance that you have defaulted on your payment bill payments, your credit score can be poor. Low credit score does not look good on your financial profile. When your track record has negative markings, the banks know that there are chances of you defaulting in future too. Thus, the banks get a strong reason to reject your loan application.
Your Personal Loan application can be turned down even if you don’t own any financial products like a loan or a credit card. It means you have a thin credit history which makes lenders hesitant about sanctioning your loan.2. High DebtsYour debt to income ratio matters a lot to the lenders. If you have too many loans going on and almost 40% to 50% of your income goes into repayments, then the banks may not like to offer yet another loan to you. Too many loans will make them wonder whether you will be able to pay them back or not. At some point, your income will become insufficient, and you will default. So it is smarter to finish a loan or two before you apply for yet another loan.3. Unstable EmploymentIf you have been changing your jobs every six months, then your loan application is most likely to end up in the rejection pile. The lenders need to know that you have a stable job and have a regular income which guarantees the repayment of the loan. But if you have been changing jobs frequently, they cannot trust your stability. Nowadays, most banks have criteria where you need to be in the same job for at least one year. Any individuals who do not meet this requirement get a rejection letter for their loan application.4. Your Total IncomeIf what you earn is not enough to pay the EMIs, then the lenders may decide against giving you a Personal Loan. You need to check their eligibility criteria properly and evaluate yourself before applying. Most banks have a minimum income requirement which you have to fulfil. Your income cannot be lesser or equal to your EMI.5. Incorrect Details in ApplicationSometimes everything can be fine, and your application can still be rejected. The reason could be as simple as wrong information, a missing document or a discrepancy with the proof you have submitted. So make sure that while you are filling out the application, you make no mistake. Double-check every information and all the proofs you submit to the bank.
You should also check your credit report for errors. You may not be doing anything wrong, but sometimes incidents like identity theft or wrong entries can bring down your credit score.6. Too Many RejectionsDid you know every loan application that you make gets recorded with the credit bureau? So each time your loan application has been rejected, it shows up in your credit record and brings down the score. Applying too many times also reflects badly in your credit report.7. Right Age and Work ExperienceMany banks have strict rules regarding the age of the loan applicant and the number of years of employment. Mostly you need to have a total work experience of at least two years before you can apply for a Personal Loan. Similarly, you have to be at least 21 years old to be eligible for the loan. The maximum age is the retirement age from work or 65 years.Summing UpThere is no guarantee that your loan application will be approved. These above-given mistakes are the most common ones, and you need to do your best to avoid them. If you are planning on applying for a Personal Loan, then keep your credit history clean and provide correct information. Still, it is up to the vendor’s eligibility criteria whether you get the loan or not. All you can do is follow these simple must-dos.

Even in times of financial hardship, there is no reason to think that a new car cannot be purchased. True, a Ferrari might no longer be within the realms of reasonable expectations, but if your existing vehicle is a little worse for wear, and transport is essential for your work, then splashing out is necessary. It is good to know, then, that auto loans with bad credit are not difficult to get at all.Understandably, many people are convinced that low credit scores make applying for auto loans a waste of time. But lenders have special auto loans with poor credit available to suit the needs of those who might otherwise be rejected because of their credit history. While the terms may not be perfect, from the right lender they can be competitive, and provide the opportunity to get the new car that is needed.Of course, an excellent credit history places an applicant in a stronger position, but it is not that difficult to get auto loans approved despite poor credit if some simple steps are taken ahead of making the application.Know What Is AffordableThe first step to putting together a successful application is to work out what is affordable. Looking for an unnecessarily large auto loan with poor credit will probably end in failure. So, put together a budget that does not add much pressure to your financial situation, then check out the range of automobiles that fall within it.Of course, lenders may have a different idea of what is affordable, which is why it is important to know what your credit rating is. By finding out your score, it is possible to spot the weaknesses in your loan application, and strengthen it accordingly. Personal credit reports are available online, though some may charge a fee.The essential factor to consider when seeking to get auto loans approved despite bad credit is that the loan repayments must be affordable. As long as that is proven, the chances of approval are high.Save a Down PaymentThe second step to take is make sure a down payments is available to secure the vehicle you choose. Many mistakenly believe that this has no bearing on applying for a car loan with bad credit, but in fact it does. As far as the lender is concerned, anyone who can save several thousand dollars to use as a down payment has exercised the type of financial discipline they like to see.With this in mind, saving the largest down payment possible is important. This also means that the size of the loan is made smaller. A car costing $20,000, with a down payment of $3,000 means a loan of $17,000 is required – a down payment of $5,000 lowers the loan to $15,000.Of course, this has added benefits for the applicant too, making the monthly repayments smaller. This, in turn, makes it easier to get the auto loan approved despite bad credit, because the transaction becomes more affordable.Find the Best TermsLastly, spend time looking for the best loan terms. There is nothing wrong with visiting banks and credit unions for auto loans with bad credit, but the chances of getting good interest rates, for example, are quite low.The fact is that the auto loans with bad credit available from online lenders offer more competitive rates, and through the comparison sites that are so common, the best deal can be found quickly.And, it is generally easier to get auto loans approved despite bad credit with online lenders because of the niche market they serve. Your best bet, therefore, in securing that car loan with bad credit is on the internet.