think green

Recycling for artworks

Tara Donovan (b. 1969, New York) is an artist who lives and works in Brooklyn.

She is known for site-specific installation art that uses everyday materials whose form is in keeping with generative art.

Fixed Bike and Running - Red Hook Criterium

Seen on The5thFloor

Importance Of Business Credit To The Economy

Without easy access to borrowing, many companies will decide to lay off staff, cease recruitment or reduce pay awards.

The consequent reduction in disposable incomes reduces retail spending and affects economic growth. But Government schemes exist aimed at addressing this.

The availability of credit can be crucial to an organisation, especially in the early years or where the organisation is seeking to expand, recruit or carry out important research. Any reduction in the availability of credit can adversely affect an organisation’s cashflow.

Just like a private individual, an organisation seeking finance will have their credit worthiness assessed by a potential lender. Credit worthiness may be assessed using evidence from many sources, such as:

• Media reports about the organisation
• Data obtained from suppliers and other parties the organisation works with
• The organisation’s financial statements
• The organisation’s track record in meeting previous loan obligations

Banks can be reluctant to lend to smaller organisations; these are seen as high risk loans as so many smaller organisations fail. The lack of adequate security is a common reason why a business loan application may be unsuccessful. The recent credit crunch has only made banks less willing to lend to organisations, or to increase their overdraft limits, and the credit squeeze has also made it harder for business owners to obtain personal loans and increased credit card limits.

A Bank of England report in October 2011 revealed that the average interest rate being paid by businesses was 4.68%, well in excess of the Bank’s base interest rate. The report also stated that lending to businesses with turnover below GBP 25 million had fallen by 5.1% in the previous 12 months.

The economic effects of a business credit crunch

If an organisation is experiencing difficulties with cashflow, it may respond by cutting staff, or at least by ceasing to recruit new staff. Unemployment rates then rise dramatically. An organisation may also choose to address its financial difficulties by freezing pay increases, or granting increases that are well below inflation.

Unfortunately the above scenarios result in reduced levels of disposable income for large numbers of people. This means that people cut back on their retail spending and buy fewer goods and services from businesses, thus increasing organisations’ woes further and creating something of a vicious circle.

Government initiatives

In response to the adverse effect this is having on economic growth, the United Kingdom government has set targets for the banks to meet regarding the amount lent to small and medium-sized enterprises.

In order to encourage the banks to lend, the government has at various times operated initiatives such as the Small Firms Loan Guarantee Scheme and the Enterprise Finance Guarantee (EFG) Scheme. The latest incentive was the National Loan Guarantee Scheme announced in the 2011 Autumn Statement, where it was confirmed that the government will underwrite GBP 40 billion of low-interest loans to companies with annual turnover of less than GBP 50 million, in what has been described as a credit easing scheme. In the same statement, it was revealed that the EFG Scheme was being extended to cover organisations with turnover up to GBP 44 million.

Other possible solutions

Specialist business credit reference agencies may be able to assist businesses in improving their credit rating.

Other solutions may involve more careful cashflow forecasting, and seeking out other forms of business finance such as invoice finance.

The chocolate market

Shopping for chocolate can be a real headache.

First of all, it is necessary to decide whether it is for yourself or for a present.

Quality varies and pricing too.

Also, some customers prefer the FairTrade products.

Secondly, which chocolate are you after, according to your tastes and preferences.

The main types of chocolate are white chocolate, milk chocolate, semisweet chocolate, bittersweet chocolate and unsweetened chocolate.

These types of chocolate may be produced with ordinary cacao beans (mass-produced and cheap) or specialty cacao beans (aromatic and expensive) or a mixture of these two types. The composition of the mixture, origin of cacao beans, the treatment and roasting of beans, and the types and amounts of additives used will significantly affect the flavor and the price of the final chocolate.

But now in the news, it seems that chocolate content get smaller, but prices reamin the same. A kind of indirect theft.

"...According to reports in The Grocer magazine, Quality Street tins will be reducing their tin sizes this Christmas - from 1kg to 820g..."

However, other product have been doing the same recently. Colgate FluoriGuard changed their packaging and dropped from 500ml to 400ml too - and kept the same price as well.

Presumably the reason that food and drink companies are more attracted to this kind of subterfuge than other types of business is that it’s easy to quietly and subtly “adjust”, say, the number of chunks on a chocolate bar or the amount of yoghurt in a pot without too many people noticing.

As long as the price stays the same, you can be pretty confident that hardly anyone rushing around the supermarket on their weekly shop will bother to check the small-print weight on the packet.

Chocolate is always a winner. Always present on birthdays, parties and celebrations.

One of the finest is from La Maison du Chocolat: tasty, creamy, rich and strong. But your wallet will be lighter too.

Such goods are usually welcome because there is quality and the price is proportional to it.

A piece of nice chocolate is very recomforting. Healthier than a cigarette and the flavours are unique according to the provenance of the beans. It works actually the same way as the coffee. Stronger, lighter, darker, sweeter, bitter...etc.

A treat which shouldn't require financial planning or even to empty part of your self invested personal pension.

But some individuals still prefer to buy really sweet and tasteless chocolate because of the low price. But quality can't be cheap and this works for everything: clothes, food, films, shows, books...

It is understandable though that not everyone can spend £4.60 on a chocolate eclair...or could they if they saved on something else less useful such as buying such and such Apps for their smartphones?!

People have different priorities and it is maybe time to rethink what is good for your well-being and happiness.

Restrap 2012 [video]

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