Category: Brandpoint Business & Finance

2018-06-01T07:01:00

(BPT) – In the middle of the country, between two coasts and the two metropolises of New York and Los Angeles, is the friendlier, more mild-mannered version of the two: Chicago.

One hundred years ago, the poet Carl Sandburg famously called Chicago the “hog butcher of the world,” and the “nation’s freight handler.” The character of the city has changed with each decade, and throughout the years.

Chicago has established itself as an educational hub, with world-class research universities, robust community colleges and ample opportunity for people to earn degrees and get ahead in life.

A force of change

During uncertain times, Chicago’s colleges and universities have stood as a guiding light for the city, signaling hope, change and opportunity.

In a city that has long had neighborhoods underserved and marked by economic hardship — one university has had a particularly strong impact on the community and the city as a whole: Saint Xavier University.

For more than 170 years, a mission to serve the community and inspire future generations to succeed and make a difference has guided the university.

As the city has changed, this core mission has adapted to serve students in the 21st century. Through the dedication of students, faculty and staff, the university has been acknowledged as a source of growth in the community in the following ways:

* Ranked No. 4 in Illinois for helping underserved students overcome barriers to complete their bachelor’s degrees, according to the Illinois Education Research Council’s 2017 report.

* Saint Xavier University has a stable and optimal student-to-faculty ratio of 14-to-1.

* Two-thirds of Saint Xavier’s student body are the first in their family to attend college.

* As part of the university’s mission, Saint Xavier directs academic programs and units to partner with local, national or international nonprofit, public, private or faith-based organizations to provide opportunities for engagement, scholarship or service/service learning for students, faculty and staff.

Degrees that open doors

While Chicago’s universities and colleges are the pride of the city, the question on almost every parent’s and incoming student’s mind is: What will I get out of the financial investment?

The School of Nursing and Health Sciences at Saint Xavier University offers top-ranked programs in the high-demand fields of nursing, speech pathology, exercise science and more. The job market for certified nurses is expected to grow by 16 percent during this decade.

This combination of high-ranking programs in growing career fields has led U.S. News and World Report to call Saint Xavier one of the best-value schools for students.

Saint Xavier University is a strong example of how universities are reviving the city of Chicago and opening doors for those who may have thought those doors were closed.

2018-05-31T07:01:00

(BPT) – According to a recent College Ave Student Loans survey of 3,510 parents of college students conducted by Barnes & Noble College Insights^SM, more than 1 out of 3 parents (39%) say paying for college is a more stressful financial obligation than their mortgage. To help make the financial road to college less complicated, here is an illustrated guide brought to you by College Ave Student Loans that breaks down what to expect in terms of covering college costs. This content was produced by GET Creative, a division of USA Today.

2018-05-21T08:01:00

(BPT) – When you think of automated vehicles, you probably think of driverless cars. While that particular movement is certainly in the news, it’s not the only place where driverless technology is gaining momentum. Did you know that driverless technology innovations are occurring every day in agriculture as well? While most of us won’t see this technology since it’s confined to the farm, driverless tractors are poised to change the way our food is grown.

The race to autonomy

Today’s driverless tractors still need an operator to keep the tractor on task. But for 20 years, farm equipment manufacturers have been working on building a precision platform with GPS navigation to provide tractors with pure self-driving automation. The ultimate goal is to offer farmers driverless equipment that is smart — or autonomous — so it can perform tasks completely independent of human intervention.

The farm equipment industry has spent a couple of decades moving toward developing autonomous equipment, and the race to commercially market that equipment has recently moved into high gear.

In 2016, both New Holland and Case IH introduced autonomous tractor prototypes, which the companies are still testing in the field. At the same time, John Deere signaled its commitment to autonomous machinery when it acquired Blue River Technology — a company that specializes in computer vision and machine learning, key technologies for developing smart farm equipment.

The digital component

In addition to performing the desired tasks, smart farm equipment also has the ability to capture vital data about the operation and how the land is being used. This data will be invaluable to farmers, according to Dan Burdett, global head of digital agriculture at Syngenta.

“The driverless tractor and automated farm equipment will be able to record any field event, which is important for developing insights, such as calculating return on investment,” he says. “Capturing timely and accurate data to document field applications for reports and stewardship requirements will also be possible.”

Because various sensors, tools and artificial intelligence will automate data collection, Burdett says the data will “enable a whole new level of decision-making capabilities. Growers will benefit from all of it,” he says, adding that the adoption of digital technologies in the ag industry is inevitable and moving fast.

“It’s escalating, and that’s driven partly by farm economics,” says Burdett. “It’s very important for farmers to know their numbers. Digital tools and information technology can help farmers be better business people.”

The future of autonomy

For many years, the components needed to bring autonomous vehicles to market were cost-prohibitive for ag manufacturers. But that is changing.

Uber, Google and Tesla have made big investments in technology for their self-driving cars, which has substantially lowered the cost of some components that are also used in automated farm equipment.

As more industries use these components, prices will drop further, placing autonomous technology within reach of farmers. The field of automated farm equipment is fertile, and it’s growing rapidly.

To learn more about automated farm equipment and other agricultural trends, go to www.syngentathrive.com.

2018-05-17T09:01:00

(BPT) – True or false: You need to be wealthy to use a financial professional. It’s a common misconception, but in fact there are financial professionals that can help at various stages in life, whether you’re just starting out or nearing retirement. It can be a huge benefit to sit down with one to discuss options, investments, savings and retirement.

No matter where you are in your life — new to the workforce, starting a family, in your big earning years or nearing retirement — some guidance from a financial professional can give you the road map toward a financial future.

Here are some of the top reasons for seeing a financial professional.

You don’t have much saved for retirement …

More than half of Americans have less than $10,000 saved for retirement, according to the American Payroll Association. But even if you’re flirting with 50 and don’t have much saved, it’s not too late to start building wealth for your future. A financial professional will assess your situation and help develop a financial strategy with the goal of a comfortable retirement in mind.

… or you do, and you’re nearly ready to retire

Saving for retirement and knowing how to use that money wisely in retirement are two different animals. A financial professional can help you build a strategy that aims to use your retirement savings, help it grow and help it last.

Your parents are aging or ill

Caring for an aging or ill parent is tough emotionally, and ambiguity or strife around finances only makes it worse. Elder care is an expensive business, and how best to use Mom and Dad’s money to make sure they get the best care possible can be a complicated quagmire, especially if siblings are at odds about what to do. Sitting down with a financial professional is a great way to sort this all out with a neutral third party whose focus is most appropriately using the funds that are available.

You’re going through a life transition

Getting married, divorced, starting a family or dealing with a death in the family can affect your finances as well as your emotions. When you’re about to walk down the aisle, for example, nobody wants to think about budgets and bills, but financial disagreements can be one of the top causes of marital problems. A session with a financial professional can be a preemptive strike against future money troubles.

You want to start investing

Finding a financial professional who understands your situation, and can help design solutions for your day-to-day financial concerns, can go a long way toward building financial peace of mind, according to Salene Hitchcock-Gear, president of Prudential Advisors. You might be tempted to DIY, but a financial professional can work with you to create a strategy based on your timeline, risk tolerance and goals.

Bottom line? You don’t need to be a millionaire to benefit from the services of a financial professional, but working with one just might put you on the road to setting and achieving your financial goals. If you want more information about building a financial future for yourself and your family, visit Prudential at www.prudentialadvisors.com.

“Prudential Advisors” is a brand name of The Prudential Insurance Company of America and its subsidiaries located in Newark, New Jersey.

2018-05-16T08:01:00

(BPT) – With graduation season and summer break upon us, many parents may be on the hunt for a new car for their graduate. Memorial Day deals offer some of the best incentives of the year, so it’s crucial to know how to navigate what can be an overwhelming and exhausting process.

“USAA helps members find, finance and insure vehicles that are right for their personal needs and financial goals,” says Heather Pollard, vice president of Auto Experience at USAA. “We want to avoid you ever having to regret your purchase decision, or worse, lead to financial hardships where you can no longer afford to keep your vehicle.”

If you are one of the millions of Americans looking to buy a car, here are the five things you need to know before you step foot on a dealer’s lot.

Know what you can afford.

The first and most important question to answer before launching into the car-buying process is “how much can I afford?” Figuring this out will help you determine whether you are in the market for a new or used vehicle. A good starting point is to use 15-18 percent of your take-home pay as a gauge for your total vehicle budget including the loan, insurance, gas and maintenance.

Next decision, how will you pay for it? There are numerous ways to manage the financial burden for purchasing a new car, including taking out a loan. If you have decided to go the loan route, determine how much you can afford in monthly payments. Banks or another financial institution might offer lower interest rates than a car dealer. Aim to pay off the loan within three to five years.

“Get pre-approved for an auto loan amount and interest rate so you know where you stand before you begin shopping,” says Renée Horne, vice president of Consumer Lending at USAA Bank. “Look for low loan rates and flexible terms to fit your budget needs versus being steered by dealers into a decision solely based on monthly payment, which often results in paying more in interest for the overall loan term.”

Another idea is to sell or trade in your new graduate’s current vehicle. If you plan to do this, factor in the cash value of that car and then add your planned down payment, typically 15-20 percent. You can use online tools such as USAA’s Auto Loan Calculator to get an estimate of what the end price tag will be.

Determine the total cost of ownership.

It is important to understand the total cost of ownership before surprising your graduate with the car of their dreams. Everything from gas to auto insurance will be an extra expense added on to the monthly cost for a new or used car and something everyone in the family needs to consider.

When receiving an auto insurance quote, note that collision and comprehensive coverage generally cost less for used cars. If purchasing an older car, consider getting pricing for Extended Vehicle Protection coverage before you go to the dealer.

Keep an open mind.

Once you have established what you can afford and the total cost of ownership, it is time to discover what features and styles you or your teen want in a car. Prioritize a list of the features you would like to see. For the teen in your life, safety is usually at the top. Next, assess how much they will be using this car and what for. Are they commuting to school or a job? Remember to keep an open mind and be flexible — stay open to two or three models that would meet your teen driver’s needs and your or their budget.

Do your research.

Everyone can agree that dealerships can be overwhelming and intimidating. Research your market first. Try the USAA Car Buying Service to see what’s out there and find vehicles that come with exclusive member discounts.

If you are looking into the used car market, always run a background check. You can get a vehicle history report from Carfax, which can help verify ownership history, mileage and accident history. Also, make sure the used vehicle has never been salvaged by entering the vehicle identification number into the National Insurance Crime Bureau’s system.

Go for a test drive.

After picking out a few of your top favorites, it is time to see how the car operates on the real road. Hit the highway to properly gauge a car’s performance, and inspect the car for mileage, tread, etc. If possible, run the car by a trusted mechanic for an under-the-hood inspection to forecast longevity and maintenance needs. Remember, factory warranties usually transfer depending on the mileage.

2018-05-15T09:01:00

(BPT) – How businesses access working capital has shifted, as traditional methods haven’t kept pace with the speed of business.

Growth is one of the biggest indicators of small business success. According to the Small Business Administration (SBA), more than 500,000 businesses have between 20 and 99 employees as of 2014. These established businesses are in the upper end of growth but have not yet met the threshold of being a medium business. In fact, 39 percent of growing companies — between three to five years old and seeking more than $100,000 — consider accessibility to capital their greatest concern. It’s during this stage businesses typically are faced with growth challenges.

Where can they turn for funding? These three alternative options may be worth considering.

1. Lines of credit

Lines of credit, provided by online lending platforms like Kabbage, offer established businesses in all industries the flexibility and convenience of accessible capital.

With Kabbage there are no fees to apply for a line of credit or annual costs to access funding. Small businesses don’t pay a thing to see for how much their business can qualify. Kabbage offers access to lines of credit up to $250,000, helping small to mid-market businesses access funding for operational costs and strategic investments like cash flow needs, purchasing specialized equipment, business expansions and launching high-growth marketing projects. There are also no obligations in how much a business is required to take. Businesses can take the amount they need from the line of credit when they need it, with no hidden fees or pre-payment penalties.

Lines of credit are faster and more flexible than traditional loans. In fact, Kabbage offers a loan application that can be finished in minutes — even through a mobile app — eliminating the time usually spent waiting in lines or filling out numerous forms.

2. Merchant cash advances

Some established businesses turn to a merchant cash advance (MCA) due to lower credit ratings, not having enough assets to provide as collateral, short-term financing needs or the flexible repayment terms.

Essentially, an MCA is an advance on future credit card payments. The cash advance is decided upon by the funding company, with the specific amount being paid back in full plus fees and interest.

With merchant cash advances, borrowers pay a set percentage of their credit card sales and make payments every time they receive credit card payments from clients.

3. Invoice factoring

Invoice factoring is another funding option established businesses use in lieu of bank loans. Factoring is the process of selling accounts receivables to a financing company for immediate cash.

Factoring helps businesses receive cash much faster than waiting for clients to pay their invoices. The financing company, known as the “factor,” pays the business the majority of the invoice upfront. Once the business receives payment from the client, they send those funds to the factor. The factor then pays the remaining percentage to the business.

Factors are more concerned with the financial health of the business’s clients rather than the business itself. These companies collect directly from a company’s clients and customers, sometimes requiring payment history validation from the business. A benefit of factoring is not assuming debt for money received; however, if clients are not creditworthy, you may not receive funding.

To maximize this growth, consider looking online at www.kabbage.com/yes to learn about and find new options that fit your business. Merchant cash advances, invoice factoring, and lines of credit are three alternative solutions that help growing businesses go beyond traditional financing methods.

2018-04-26T14:49:00

(BPT) – In September 2018, thousands of people from around the world will congregate in an unlikely place: Wausau, Wisconsin.

The diverse crowd will gather for the second International Wisconsin Ginseng Festival. While many may be surprised that such an event would be held in the middle of Wisconsin’s rolling hills and scenic lakes, it is a $50 million local industry with a long history. In the mid-1970s Hmong immigrants, primarily from Vietnam, brought their entrepreneurial skills and revitalized the local ginseng industry. Welcomed by a friendly community that continues to foster an entrepreneurial spirit, Hsu’s Ginseng, now under the leadership of original founder’s son Will Hsu, has grown to be the largest integrated ginseng growing and retailing operation in the U.S. Wausau’s industrious self-starters and newcomers grew a multimillion-dollar industry, and the region continues to incubate entrepreneurs across an array of business sectors.

Local innovation

Wausau, ranked recently by ZipRecruiter as a Top 10 Job Market for 2018, has a track record of successful public-private development partnerships and hosts a thriving incubator — the Wausau Entrepreneurial and Education Center — to help local entrepreneurs get started and help established businesses grow. For instance, Wausau-based Resilient Technologies, now a business of Bridgestone Americas, was approached by the U.S. government to develop puncture-resistant tires. In an effort to make military vehicles more safe, they used strong local manufacturing ties to develop a first-of-its-kind non-pneumatic tire in Wausau’s incubator. Bridgestone is now looking for ways to apply the technology to its consumer and commercial portfolio, and develop next-generation tires that offer extended mobility.

“A lot of people don’t know these types of projects are happening here, but the city of Wausau is a great partner and the city provides our team with a wonderful place to call home,” says Louis Stark, operations manager, Resilient Technologies.

The availability of an experienced workforce that can develop these specialized tires for the U.S. military is the same workforce that has made an impact on other areas of Wausau’s economy.

Entrepreneurial workforce

Sometimes entrepreneurial opportunities spring from unusual skills. Some residents in Wausau have deep connections to artistic traditions, including sewing. Bob Jacquart, chief executive officer of Stormy Kromer, makers of hats and rugged outerwear, says he now relies on the sewing skills of Wausau’s residents to create one of the Midwest’s most storied brands.

Stormy Kromer’s operations in Wausau have been successful, outpacing production in the company’s headquarters in Ironwood, Michigan.

“I could not have felt more welcome and city leaders could not have been more accommodating in helping Stormy Kromer find a suitable space as well as skilled workers in Wausau,” says Jacquart.

Incubating community

The local economic conditions and support environment that allowed these Wausau-based companies to thrive are the very conditions that led Time Magazine to label Wausau a “middle-class paradise” last year.

A combination of affordability, welcoming atmosphere and economic diversity is attracting young people, new industries and incubating unlikely entrepreneurs. Aiming to make the most out of these trends, the city is responding in kind. New growth and development have hit record levels across diverse sectors of growing businesses in Wausau. The city’s warm attitude toward entrepreneurs and diversity further complement its traditional economic base in metals manufacturing, building materials, insurance, informational technology and health care.

To learn more, visit www.wausome.com.

2018-04-26T09:01:00

(BPT) – What helps a community thrive? It’s a question with answers as variable as the people responding. Some might say that healthy communities are safe communities. To others, flourishing communities experience significant economic growth and stability. Still others would insist a thriving community may simply be one where people work together to support goals for the betterment of everyone.

As demonstrated through extensive research by the Thriving Cities project, the strongest communities across the nation exhibit several of these qualities but they also have the ability to assemble unconventional coalitions to serve their residents. One of the brightest examples of this philosophy is when businesses and entrepreneurs partner with educators to create programs that support the common good.

So where is this taking place? Here are three examples of communities where such innovations are occurring right now.

The Hilltop Artists

“Using glass arts to connect young people from diverse cultural and economic backgrounds to better futures” is the mantra of this Tacoma, Washington-based art school. Founded by Dale Chihuly and Kathy Kaperick in 1994 and through support from The M.J. Murdock Charitable Trust, Hilltop Artists partners with several schools in the Tacoma School District to provide students an alternative to violence and delinquency through the creation of glass art made while working together. In addition to an artistic education, students also gain business knowledge as they help market and sell commissioned pieces.

The efforts are paying off, as over the last four years, Team Production students have posted a perfect 100 percent graduation rate and 58 percent have gone on to pursue post-secondary education. Some of them likely doing so in art.

Garden City Harvest

Based in Missoula, Montana, Garden City Harvest grows sustainable produce for members of the local community in need. Through a partnership between companies like Missoula Federal Credit Union, educators including Willard Alternative High School, the University of Montana and organizations such as Missoula Youth Drug Court and the Human Resources Council, at-risk teenagers can gain on-the-job training through the Youth Farm employment program. The project also helps them to build confidence, leadership skills and a strong work ethic through the produce they grow.

In addition to benefiting the students who take part in the program, Garden City Harvest supports those in need throughout the Missoula area. Today more than 90 percent of produce consumed in Montana is shipped from out of state and 20 percent of Missoulans live in poverty. The efforts of Garden City Harvest are working to change those numbers on both fronts.

Zambia Gold

Launched by Gonzaga University, Zambia Gold utilizes a team of interns to collaborate with farmers in Zambia to import honey for sale in the U.S. Supported through the university and nonprofit foundations like The M.J. Murdock Charitable Trust, Zambia Gold does more than just give the people of Zambia an economic outlet. It also boosts educational opportunities in the country by filling Zambia’s Chilena Basic School library with more than 20,000 books over the last eight years while offering valuable training in business and service to the Washington-based interns. This makes for a partnership that is economically, educationally, and, of course, deliciously beneficial all around.

Improvements in your own community

The examples above are just three ways in which organizations and educators have come together to make meaningful community changes in an unconventional way. Now, what can you do in your own community to create a unique change for the common good? What can you do to make your already great community even better?

For inspiration and to learn more about the ways the M.J. Murdock Charitable Trust supports educational partnerships such as these, visit Murdocktrust.org/education.

2018-04-25T10:03:00

(BPT) – It seems like every quarter there’s a new story about how hackers breached a major company’s cyber-defenses and stole millions of pieces of highly sensitive data. While most of the news coverage goes to data breaches that hit major corporations, small businesses are frequently the target of cyber attacks as well.

In fact, the risk for small businesses is even more significant because many do not have the capacity to withstand the blow that a cyberattack could deal. According to the National Cyber Security Alliance, 60 percent of small businesses will go out of business within six months of a cyberattack.

To help mitigate the risks, companies like Dell do extensive training for team members. Such training is important because only 48 percent of cyberattacks are perpetuated with malicious intent. The rest? Human error.

Let’s take a look behind the scenes at Dell to discuss seven of the top tips they use to keep their data safe, advice that can go a long way to help protect your small business.

1. Security is a mindset

The best software for cybersecurity is a company-wide mindset. Everyone should be vigilant, and conscious of security threats and the value of the company’s data and assets. This mindset is expansive and includes being careful when sharing on social networks, as well as when disclosing sensitive information through email or the phone.

2. Practice proper password management

Remembering numerous different passwords can be a hassle, but nonetheless, it’s vital that employees resist the temptation to reuse passwords. Use a strong mix of characters and always avoid writing down passwords.

3. Protect and manage your device

Employees should be reminded to always lock their devices and to avoid leaving devices unattended. In addition, they should be aware that malware can spread through flash drives, external hard drives and personal smartphones, so they need to be careful what they plug into.

4. Avoid attachments and don’t click on email links

This is one of the fundamentals of cybersecurity. Before clicking on an email link or downloading an attachment, make sure you know the sender. If anything seems suspicious or unusual, don’t click! Instead, contact the person to verify if they sent the email.

5. Work on unsecured networks with caution

In the era of the remote office, more people are working remotely than ever before. It’s important that employees know what they can and cannot use when on unsecured networks such as those in coffee shops. Also avoid browsing on an untrusted network, as this can lead to interception of financial, e-commerce and other sensitive data.

6. Back up data regularly

The danger of a cyberattack is not only in having financial and personal records stolen, but in losing large amounts of data that is vital for running your business. Therefore, regular data backups are essential. This is a kind of insurance you can’t do without in the modern world.

7. Monitor your accounts

If you or any employee notices unfamiliar activity in your accounts, it’s a sign the account may be compromised. Add an extra layer of security by adding a two-factor authentication (such as asking users to answer a question only they would know) to accounts whenever possible.

Because tech and IT are at the center of today’s small businesses, you can’t be too careful when it comes to protecting your data. For more on how you can improve cybersecurity where you work, contact Dell and find out how smart, secure tech can empower your company.

2018-04-23T13:21:00

(BPT) – Across the nation, thousands of seniors have used a Home Equity Conversion Mortgage (HECM), commonly called a reverse mortgage loan, as a savvy way to access the equity in their homes. These mortgages can be shaped to fit an individual’s needs, and with new consumer safeguards in place, many seniors are discovering that it is an important part of their retirement strategy. For those interested in a reverse mortgage loan, there are six main phases to the process.