Liz Weston NerdWallet Published 3:38 p.m. UTC Jul 16, 2018 Amazon. Chipotle. GoPro. These household-name businesses were launched thanks to investments by the founders’ parents. But parents also have sunk plenty of money into their offsprings’ doomed enterprises, sometimes endangering their retirements and family relationships in the process. Certified financial planner Jon Ten Haagen of Huntington, New York, had a retired client who against his advice gave $100,000 — most of her savings — to her son to start a restaurant. The business failed within a year, and he has yet to pay any of the money back, he says. “She’s just getting by at this point,” Ten Haagen says. Beware of the risks Parents usually want their kids to succeed, and many are accustomed to sacrificing to help make that happen. But parents shouldn’t be mislead about the risks, financial planners say. “This investment is going to be concentrated, illiquid, … [Read more...] about Liz Weston: Can you help your kid start a business?
Irs business name change
Updated 12:15 pm PDT, Monday, July 9, 2018 Photo: AP Image 1of/1 CaptionClose Image 1 of 1 FILE - This April 2017 file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. (NerdWallet via AP, File) FILE - This April 2017 file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. (NerdWallet via AP, File) Photo: AP Can you afford to help your kid start a business? 1 / 1 Back to Gallery Amazon. Chipotle. GoPro. These household-name businesses were launched thanks to investments by the founders' parents. But parents also have sunk plenty of money into their offsprings' doomed enterprises, sometimes endangering their retirements and family relationships in the process. Certified financial planner Jon Ten Haagen of … [Read more...] about Can you afford to help your kid start a business?
Cargill to expand investment in Vietnam The animal feed market in Vietnam has a relatively high potential, which has prompted Cargill group to invest more in the country, according to the US group’s Chairman David McLennan. Talking to the press in Ho Chi Minh City on November 18, McLennan said plans for new factories demonstrate the group’s commitment to the country. Cargill is constructing its 12th animal feed plant in Vietnam with a total investment capital of 30 million USD in the southern province of Binh Duong. The factory, with a capacity of 260,000 tonnes a year, is expected to go into operation in the first quarter of 2017. The group has invested 180 million USD to develop its animal feed mills system with a total capacity of 1.3 million tonnes a year in the country since 1995. Additionally, the groups signed a 10 million USD deal with the Sai Gon International Terminals Vietnam (SITV) to build warehouse in Phu My. Besides expanding its investment in Vietnam, … [Read more...] about BUSINESS IN BRIEF 20/11
Local suppliers find blocks to supermarket access Small local suppliers are being confronted with demands for huge trade discount rates and bribery in order to access supermarket distribution. At the workshop on the retail market, Pham Ngoc Hung, vice chairman of the HCM City Business Association, said in order to get products on display, firms are being arm-twisted into paying VND10-20m (USD454-909) for each type of product. They also have to bribe sorting and placement staff or their products won't be displayed properly. Small sized firms aren't in a position to pay huge amounts and also have to accept huge trade discount rates to get their products displayed, especially export firms who consider discount rates as marketing costs. As a result, this has encouraged even higher discount rates. Le Thi Thanh Lam, director of SaigonFood TM Company said foreign-owned supermarkets were asking for huge discount rates while domestic supermarkets were indifferent toward them. "Some supermarket … [Read more...] about BUSINESS IN BRIEF 20/6
Hanoi's exports post 0.2% growth The capital city generated approximately US$3.4 billion from exports in the first four months of the year, marking a modest increase of 0.2 per cent against the same period last year, according to the municipal Statistics Office. In April alone, the city's exports were estimated at $852 million, down 1 per cent month-on-month and 4 per cent year-on-year, the office said. Products recording high export growth in the reviewed period included garments, up 23 per cent and means of transport and tools, up 21 per cent. Items witnessing export decline were farm produce, down 19.5 per cent and computer components and peripheral equipment, down 20 per cent. Meanwhile, the city imported an estimated $1.75 billion worth of goods in April, surging 2.3 per cent against the previous month but decreasing 13 per cent against last year's corresponding period. The latest addition has brought the city's import turnover in four months up to $7.33 billion, down 5.1 per … [Read more...] about BUSINESS IN BRIEF 2/5