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What Happens When a Company Needs to Liquidate?

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What Happens When a Company Needs to Liquidate?

A voluntary liquidation is an orderly end-of-year wind-down and liquidation of a business which has already been authorized by its creditors. Such a measure will normally take place when the leadership of a business decides that the business has no longer any business reason to continue running. It is an ordinary business bankruptcy. Such wind-down procedures can be carried out for various reasons:

In order to understand why voluntary liquidation will take place, it is essential to have an understanding of the process involved in voluntary liquidations. Basically, the company administration will carry out a review of the company and make recommendations to the shareholders as to the best way forward for the business. In most cases, such resolutions will not be successful because the administration will be unable to come to an agreement as to what should be done with the company. The option of voluntary liquidation has been introduced to ensure that companies can be brought into line with their creditors.

In order to know the purpose of a voluntary liquidation resolution, it is essential to first of all have an idea of what liquidations are and what the procedure is. Voluntary liquidations are a result of the inability of a business to pay off its debts to its creditors. This inability may be voluntary or could be due to events beyond the control of the business itself such as insolvency. For instance, it could result from taking loans from people whom you do not really know if they can pay them back or from selling assets that you cannot sell on, like office furniture or office equipment which are beyond repair.

The voluntary liquidation process will generally start by a winding up petition being made against the business. This is where a group of directors will meet and decide that it is in the best interests of the business to wind itself up. When the creditors get a chance to hear what is going on, they will be able to make offers to the creditors. The offers could vary from one creditor to another, but the main consideration is that the offers should be acceptable to the directors. If possible, it is always better for the creditors to receive some payment from the business’ directors than for the business itself to shut down.

Once the winding up petition has been granted, it will be time to make an appointment with the creditors. The aim of the meeting is to determine whether any voluntary liquidations may be possible. Once the creditors have had an opportunity to meet and speak with the company’s directors, it is then possible to discuss what options are available. The creditors might be prepared to accept some percentage of the debt, based on the seriousness of the debt. They will also want to be paid the full amount without having to go through the entire process of winding up.

The number of voluntary liquidations may happen at different times during the company’s history. Sometimes the company needs to make a big acquisition, or it is involved in litigation. In cases such as these, the voluntary liquidations may happen sooner rather than later.

At this point, the company can choose to settle its debts in full or elect to liquidate the assets and pay off a portion of its debts. Some directors may prefer to go the quiet way and leave the business. However, other more aggressive directors may wish to bring the entire enterprise into the family. It can be much harder to deal with aggressive directors in the past when no one knew how the business worked, and the directors did not engage in the usual conduct for starting a new business in an already existing business.

For a business to be successful, it must operate profitably. If the business does not make enough money, there could be serious problems. In addition to needing to pay debts, the business may need to raise capital to pay wages and buy equipment. When operating a business without enough cash flow, it becomes necessary to engage in the involuntary process of liquidation. There are many aspects to consider when thinking about whether voluntary liquidation may be an option for your business.

BUSINESS

Black Insure a personal finance company founded by Michael Aremu & George Oni

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Black Insure a personal finance company founded by Michael Aremu & George Oni

Founded by Michael Aremu & George Oni in October 2020, Black Insure is a personal finance company that serves as a digital matchmaker to underserved communities. 

A core problem within the communities they serve was a Lack of knowledge regarding finance & finance related products, low trust between minority communities and financial instituitons due to historical financial discrimination among minority communities.

“After experiencing the disparity and limited inclusion of people of color within the financial system, we knew that something had to change and that is why we started Black Insure to build better bridges. By educating, leveraging technology, people and partnerships, we hope to create a better society where finance is open to everybody and it is our life’s mission to accomplish that.” As said by the founders.

Black Insure has built a free and easy to use platform that provides  7 financial pillars of services which include: Insurance, Loans, Credit cards, Debt Solutions, Business, Banking & Investing. They  tailor-make content & services in these various pillars that are specifically made and targeted to our target demographic. They  also put a twist on it to make it fun & relatable.

They have built some notable partners with big financial institutions in America from Insurance companies to Lenders, debt solution providers, brokerages and much more. 

Their 3 main pillars are Insurance, Loans & Debt Solutions :

  • Growing demand for various Insurance products within the community
  • Lack of awareness of loan products that majority of households qualify for
  • The black median household debt is $30,800. Only 40% of these families have good credit leaving 60% with fewer options of acquiring debt for growth such as homeownership, starting/growing a business

Black Insure is mission-driven and focused on bridging the financial wealth gap and financial disparity in America.

To learn more about Black Insure, check out their platform

https://www.blackinsure.com/

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BUSINESS

Magento Development – Best Way to Develop and Design Your Online Store

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Magento Development - Best Way to Develop and Design Your Online Store

Magento is one of the most significant websites available on the internet. This website is famous for offering the best and the most common customization options to users. Nowadays, Magento has become the most efficient and popular e-commerce market in the world. A person must know about Magento Webshop.

There are several benefits that you can have by using Magento. Magento has helped a lot of people in building, designing, and developing their online stores. Some of the most prominent features and benefits of using Magento for development are as follows.

1.      Powerful and efficient platform

The first and the most significant benefit of using Magento for developing and designing websites is that this is one of the biggest and strongest platforms. This is a powerful platform that can meet all your needs and requirements of starting an online business. So, if you are using Magento for store development, you do not need to worry about its performance and efficiency. 

2.      SEO friendly website

The second most prominent benefit of using Magento for business development is that Magento is SEO-friendly. This website was built by keeping SEO in mind. This website generates SEO-friendly options and URLs. 

3.      Fast loading website

One of the most important benefits of Magento 2 is that it is a website having great speed. The world is full of users, and Magento 2 is famous for having a matchless loading speed. According to Google statistics, the majority of the users do not use those websites that take more than 3 seconds to load. Magento is often used as it has a great loading speed.

4.      Flexible and better content management

One of the most important factors and benefits of Magento and Magento 2 shows that Magento is one of the most flexible websites. Magento allows the most customizable options to the customers. Magneto has an efficient, intuitive page editor. 

5.      Highly customized website

Another prominent point that can show that Magento Development can be beneficial for you is that it offers customized options for the people. People can have the right chances and categories to improve things. Everything is customizable on Magento Development. You need to develop a highly developed and customized store that is equally coded from the start. The platform should also offer several options for payment methods, shipment options, and different languages for better ease of customers. Magento has proved to be the most functional platform.

6.      Better reporting 

Last but not least significant thing that can show Magento development is a great way that helps in designing and developing the online store is that they offer advanced reporting. Countless high-end reporting features offer almost 20 reports in the web interface. The major insights of the business, such as custom products, services, and orders, are given a reporting feature. 

The final words

These are some of the most significant points that show the benefits of Magento Development. These points show that Magento Development is the best way to design and develop your online store. 

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BUSINESS

Unsurpassed Decentralized Exchange Software

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Unsurpassed Decentralized Exchange Software

In the world of cryptocurrency business there are many types of decentralized software are available. Out of which we have certain best type of decentralized exchange software scripts are mostly preferred by many cryptopreneur or developers or agents of this type or an expert in order to market their business to the world of cryptocurrency and attain the best or attracted the best potential customer to purchase the cryptopreneur’s coin for the great deal of income as a revenue point of view as well. Let’s see about some of the unsurpassed decentralized exchanges who creates the decentralized exchange software for the NFT cryptopreneur for their business in order to support them on how to create, secure, suggestion on how make the best revenue among many competitors available in the NFT marketplaces.

These are the list of decentralized exchanges creating the decentralized exchange software for the cryptopreneur for their business. 1inch network, VoltSwap Meter, Phantom, Zerion, Zapper.fi, pancakeswap, Bisq, coin98 finance, Loopering, parawsap, balancer labs, fulcrum, totle, bancor, tokenlon, mStable, demex, DMEX, stellarX, SWFT, Dogeswap, NFTX, bogged finance, augur, smartDEX. These are the exchanges will function as a great support on creating the decentralized exchanges software for many cryptopreneurs or business magnates for their NFT business as per their requirements. Moreover, the services of the decentralized exchanges of created decentralized exchange software continuously keep a close watch over daily business progression as it has a robust admin panel and user dashboard which would help the users in better regulation.

While creating the decentralized exchange software script by the decentralized exchanges, the experts in the development team must also have to focus on trading engine, atomic swaps, order book, user interface, payment instruments, internal messenger, Admin panel, liquidity, customer support channel and so on in addition to the general supports while deployment of the software to the valuable customers. Due to this invaluable features and services of this type of decentralized exchange software company it becomes more advance level compared to the different competitors available in the marketplaces based on the new requirements of the customers day by day in different regions from different level of expectations as well. Which means that as the business needs increases the option of exchanges of currency of coin based on which the development of decentralized exchange software process also will depend on it and so on.

Since, the authentication process differs from one site to the other sites as it is a one-time key for entry will be generated, which would be valid for a certain period, after some time it will be expired. Due to this reason, the most of the cryptopreneurs will prefer to have this type of decentralized exchange software as it is more secure way of transaction and will expire if any transaction gets delayed for certain period and it could protect invalid transaction and safeguard the business magnates in all the way. So, once the decentralized exchange software script is ready the businesspeople / experts should be very cautious on its authentication process and its exchange process.

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