Content of the material
Advantages of Factoring
- The funds released improve your cashflow position and the additional working capital created enables your business to expand.
- Factoring boosts your bargaining power, enabling you to capitalise on early vendor opportunities and discounts.
- The cash advanced grows alongside your business. This means that as your business grows, you could have access to more funding.
- The credit control function outsourced to the finance provider allows you to concentrate on growing your business.
- Unlike other forms of commercial finance such as bank overdraft, factoring could be a flexible funding facility for start-up companies.
How to Enable the Mobile Hotspot Feature on a Phone
Before enabling your mobile hotspot feature, know what type of phone you have or operating system your phone is using. Different operating systems have different ways on how to enable the mobile hotspot data feature. For all devices, the mobile hotspot feature can be located under the Settings. For Android phones, you can just tap the mobile hotspot button in your Notification Area the tab that slides down when you swipe your phone screen downwards from the top.
An alternative for this is by opening the Settings and tapping the Tethering and Mobile Hotspot feature located near Wi-Fi or Bluetooth buttons. For iOS, the mobile hotspot was named Personal Hotspot and it can be located once you open the Settings and tapping the Cellular tab.
Unfortunately, there is no other way you can enable the mobile hotspot in iOS other than going to the Settings option. Lastly, for Windows phones, the mobile feature can be enabled by going to Internet Sharing under the Settings and tapping Share Over Wi-Fi. These methods will instantly turn your phones into mobile or portable hotspots.
You should know by now how to establish a hotspot on your smartphone in order to allow other devices to use your phone’s internet connection. Most people use Bluetooth hotspots to share mobile data to their laptops when they’re working and their wireless routers fail.
This is one of the reasons why it’s nice to have a mobile data plan, at least as a backup. You can also use USB tethering in order to share mobile data with a PC or laptop. To do this, connect your phone to your other device via a USB cable and enable the USB tethering option on your phone.
Your computer might need additional drivers for this to work, depending on its components and operating system.
Now, what’s interesting is that you can also do the reverse, at least with some smartphones.
Use Facebook without a SIM card
On my phone without a SIM card, I could download & install Facebook and create a dummy account to test without any issues. Facebook has a calling feature with its standalone messenger app. So what are you waiting for? Just start using your old Android device to its full potential minus the SIM. Go the Facebook way!
Use Viber for Voice Calls Without a SIM
If you are traveling abroad, you can use free Viber to Viber calls and messages over Wi-Fi even if you are using a different SIM than the one used to verify Viber activation. However, do remember that if you are making a Viber call over Wi-Fi to a non Viber number, it will be chargeable.
Other Forms of Factoring
- Recourse Factoring: The finance provider manages your sales ledger without any credit protection. This means that if your customers default, you are liable for all credit costs.
- Non-recourse Factoring: This is a factoring arrangement where the finance provider takes full responsibility of the sales ledger and bears any risks associated with bad debt. This saves your business the hassle of worrying about customer defaults.
- CHOC’s: Factoring is assumed to be a disclosed arrangement with outsourced credit control. However, CHOC’s (Client Handles Own Collections) facility keeps the business in charge of their sales ledger. This could be a cost-effective solution for SMEs with in-house accounting systems.
Pros and Cons of Using Wi-Fi
There really aren’t that many cons of using your Wi-Fi connection instead of your data plan. A strong connection would give you better download and upload speeds.
Then again, you may not always be able to rely on wireless networks to give you a steady signal. That’s especially true if you’re outside your home or office.
One of the few downsides of using Wi-Fi networks is the automatic switch to mobile data that some phones do when they’re out of range. In some cases, this can be good because it works both ways. Once you’re in range of a saved Wi-Fi network, your phone should automatically switch to it and stop using mobile data.
But it’s not a bad idea to keep mobile data turned off until you actually need it. It’s easy to switch it back on from the quick settings menu on most smartphones. You can simply swipe down on your screen from any Android device and tap the mobile data icon to enable or disable it.