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Month: May 2016

Shouldn’t ALL Economists Be Rich?

Shouldn’t ALL Economists Be Rich?

I remember back at Uni, during my first year when I’d actually enrolled for an engineering course before switching to commerce, a young lad quite rudely asked the calculus lecturer just what on earth we were being taught during a specific lesson would help us with in our application of that “knowledge.” That guy (who’s probably a fully qualified engineer by now) went on to shape my entire professional life as that’s perhaps the defining moment which made me question just what I was doing there, learning about integration and what not. Perhaps he’ll never know it, but he definitely contributed to me being in the financial industry.

I must say that that wasn’t my final encounter with calculus in some form or the other, because in the actuarial sciences (which form only part of my profession), we did indeed learn about integration and the likes, but with more of a theoretic feel to it so as to help develop and maintain the various financial systems used throughout the entire financial industry. If it’s all about making money, I really thought that the best way to do that was right in the middle of the financial industry, and so I said goodbye to what would have been my engineering degree.

Anyway, questions around the education we pay so much money for keep haunting me to this day and I often sympathise with people who ask questions like “Shouldn’t all economists be rich?” I mean they’re all experts in their field, which is the field of how the financial sector works. Economists have all the inside knowledge, don’t they, and so they should know how to take advantage of this knowledge to make themselves wealthy?

You see them featured on all those business and money shows, giving their expert opinion on what the market is going to do. Some are even willed to pick what they deem to be hot stocks or hot investments which they believe will be the next biggest movers of the market, as possible cases for the eager onlooker to make a bit of money for themselves. I can’t count how many times an economist has gotten their predictions horribly wrong however, which brings us back to the question of whether or not all economists should indeed be rich.

With a strong scientific background as well, I’ve often questioned the inner-workings of the financial system myself, wondering whether or not is should follow more of a scientific methodology. What I discovered though, through my ground-level experience working in the financial sector, is that economists and pretty much anyone else working in the financial industry gets equipped with fundamental knowledge of how the financial system works. Just like economists, we all study what is essentially the “science” which drives the operation of the financial system. What economists aren’t privy to is the type of information available to candidates for insider trading. Well they perhaps are, but they simply cannot make use of that information to enrich themselves, otherwise they’d be indicted for insider trading.

Financing a Courier Business

Financing a Courier Business

With online deliveries being popular, particularly at this time of year, a sound business option is the courier industry. As our lives become increasingly global, increasingly digital, we can order everything from groceries to books, some guaranteeing a one hour delivery slot. The industry continues to thrive, with big names being rivalled by independent companies. With companies such as Yodel and Deliveroo, the face of delivery across all strands is changing, as cyclists and every day drivers are drafted in to help get packages out there. Even the mighty Amazon announced Flex this year, which pays people in specific cities to deliver parcels.

Such a thriving industry that seems set to continue growing is something that investors can do well on, as we head toward even more online shopping. Some considerations for investing in or financing a delivery business are covered below:

Delivering on Time

The most important thing is for a delivery company to ensure that deliveries arrive on time. Check how the company you are considering financing intend to do this, what their history looks like concerning this and what compensation procedures they have in place. Delivery is largely based on word of mouth, particularly in the beginning, and that relies on timely arrival.

Delivering a Happy

One of the most important parts of being a delivery person is friendliness, since it is a customer facing role. This is how reputation is built, and as such, you should be sure that the people being used for delivery fit the criteria! A successful delivery business delivers on time and goes the extra mile. Find out how the delivery service you’re looking at investing in intends to vet their drivers.

Delivering Tech

There is nothing more frustrating than awaiting a delivery which gets missed and then having to wait two days before you can even access it. Opting for good communication with drivers, and good tech to allow tracking reduces the likelihood of this. You will need to provide finance for this key area.

Delivering Locally or Globally

Deciding where to deliver to will involve some market research. Companies such as InXpress are aggregators, which help consumers decide which delivery option is best, and as such have a wealth of information about shipping and delivery in the UK and beyond. Use resources and experts’ knowledge to help you gain a better understanding of the shipping and delivery industry.