Image source; kaggle.com
It is a fact that you need an algorithm to decide if a post should stay ahead in the ranking or not. This is true for Google as they have massive algorithms for their search rankings. However, we know that Google is not the only one which indexes posts as well as websites. One of the other major companies which is similar to Google in some ways is Facebook.
Although Facebook does not have websites listed in it, it does have posts and groups to handle. On Facebook as well, there are algorithms which decide the relevancy of a post according to your preference. In most cases, this is pretty accurate and we get to see the posts that we want to interact with.
We also heard from Facebook that they are releasing a new News Feed Algorithm update. The company revealed that this update is focused on boosting content from the users who you are likely to care about the most. This, Facebook claims, will also reduce the reach of clickbait. Now, Facebook has amended this update by adding some ranking signals into its algorithm. This amendment is related to adding ranking factors for groups and pages same as other content.
Facebook says that the only reason people come to Facebook is because of “friends”. And for this reason, Facebook is adding the ranking factors inside pages and groups to see the most relevant content from your friends and family. Facebook’s amendment to its News Feed algorithm includes two factors. One is how interested users are for specific page’s content and how important is a group to a user.
The company says that based on these two factors, they have updated its News Feed algorithm to “prioritize the Pages and groups we predict an individual may care about most”.
- Banking regulations and offers has much to do with the country people decide to form their business in.
- Countries such as the UK, Singapore, Germany and the US, are hosts to some of the best banks for small business worldwide.
- Once you’ve chosen a country, knowing which banking features you want in a business bank account is key to choosing which bank is best for you.
When forming a business, it is always important to review the quality of different countries’ banking institutions and the features of their business banks accounts. Innovative and newly released banking features can have tremendous sway on deciding which country is best to form a business in, and knowing which features you are looking for in a business bank account can also assist in narrowing down your options.
Table of Contents
- A global comparison of the best banks for small business
- Is US bank accounts still the most desirable in the world?
A global comparison of the best banks for small business
In the UK, it is relatively easy to open a business bank account if a business has UK resident owners or shareholders. Most banks in the UK offer a wide range of features suited for most business banking needs, and most also have what’s referred to as ‘international’ accounts which are specifically designed for forgien businesses. However, business bank accounts in the UK may turn out to be expensive to open and maintain, with high initial deposits, monthly charges and requirements of a minimum money deposit to keep it open.
Hong Kong has long been considered one of the world’s best destinations for commerce and business, however it doesn’t have the ‘friendliest’ banking and financial sector for small business and startups. In Hong Kong the rule of thumb is to apply at several banks at the same time, to have cash saved up for the application fees, which isn’t cheap, and to apply and plan your trips to Hong Kong well in advance, as the process of opening a business bank account can last anywhere from one to six months.
In Singapore, opening a business bank account is reasonably simple and involves a straightforward process. Most banks in Singapore offer business bank accounts with a wide variety of features including credit cards, online banking, multi-currency accounts, trade financing, and the ability to move money anywhere in Singapore. Most countries around the world have a banking presence in Singapore which means that banks in Singapore will, in general, obligingly open a business bank account for any business, whether in Singapore or from aboard.
Germany is thought of as a very respectable and stable country for banking purposes, and because Germany is at the centre of the EU, its business bank accounts are some of the best in the world. Germany’s banking system is also renowned for their welcoming and accommodating dealings with non-resident customers looking to open a business bank account.
Is US bank accounts still the most desirable in the world?
In the US, banks have increasingly shifted their focus to newer and younger customers, and begun exploring avenues that will establish digital modes of communication and banking. Features such as online banking and instant banking and spending alerts are quickly becoming dealbreakers, and have really come to the fore of the list of features of business banking accounts. Finding the best business banking account for small businesses all depends on what features you are looking for in a business account. For example, for small businesses looking for a bank with a local presence in every state, Chase has the best business checking account from a national bank. For online businesses, dealing more with online banking, BlueVine offers checking business accounts that are serviceable from BlueVine’ mobile app and website. With digital modes of banking and communication now becoming one of the top features of business bank accounts, banks like BlueVine, are the reasons why the US has the best and updated business banking features available worldwide.
As a small business owner, there are a lot of important decisions to make that can affect your business in a way. One of the most important things to consider is your business structure. It is important to understand as to whether you want to be solo as a business owner, or have partners to work with. Being a sole proprietor means that you solely own the business legally, without any separations that can protect you from any damages made to the business. Here we discuss the pros and cons about sole proprietorship and which businesses can become one.