Number of millionaires in the world

The "World Wealth Report" is a report on individuals with a net worth of at least $1 million in all assets except their "primary residence". The report is compiled annually by Capgemini for Merrill Lynch.
World Wealth Report 2007 - "The 11th annual World Wealth Report from Merrill Lynch/Capgemini finds the World’s High Net Worth (HNW) population growing to 9.5 million with their assets rising to $37.2 trillion."[6]
Some growth in international wealth and the number of high net worth individuals can be attributed to the weakness of the US dollar, as stated in the report.
HNWIs (more than $1 million, in 2006)
Region
Number
Percentage of regional population
Global
9,500,000
0.15%
North America
3,200,000
0.62%
Europe
2,900,000
0.41%
Asia-Pacific
2,600,000
0.06%
Latin America
400,000
0.07%
Middle East
300,000
N/A
Africa
100,000
0.01%
Ultra-HNWIs (Ultra-HNWIs Account for 1.0% of All HNWIs) (more than $30 million, in 2006)
UHNWIs (more than $30 million, in 2006)
Region
Number
Percentage of regional population
Global
95,000
0.001%
North America
38,400
0.007%
Europe
23,200
0.003%
Asia-Pacific
18,200
0.0004%
Latin America
9,600
0.002%
Middle East
3,300
N/A
Africa
2,000
0.00002%
Scotland has more female millionaires than male.[citation needed]

United States
Main article: American upper class
There is a wide disparity in the estimates of the number of millionaires residing currently in the United States. According to TNS Financial Services, as reported by CNN money, 8.9 million households in the US alone had a net worth of at least $1 million excluding primary residences in 2005.[7] According to TNS, the number of millionnaire US households is now 9.3 million, with an increase of half a million since 2005.[8] Millionaire households thus constituted roughly seven percent of all American households. The study also found that half of all millionaire households in the US were headed by retirees. Another finding was a record "33 percent increase over the 6.2 million households that met that criteria in 2003," fueled largely by the country's real estate boom.[9]
A report by Capgemini[10] for Merrill Lynch on the other hand stated that there are approximately 2,900,000 households in North America whose net worth exceeds 1 million US dollars (which include "private equity holdings stated at book value, ...publicly quoted equities, bonds, funds and cash deposits.. offshore investments are theoretically accounted for, but only insofar as countries are able to make accurate estimates.." as well as real estate not used for primary residences) (p. 30)).
According to ABC News, Los Angeles County, California has the highest number of millionaires at 262,800 households. Followed closely by Orange County, California, Cook County, Illinois and Maricopa County, Arizona.[11]

On Making Risk Less Risky

Bearing in mind, that risk itself is similar to taking a journey towards a target you are not sure to reach safely, it is fair to assume that the less knowledge we have about a particular thing we wish to engage in, the greater the uncertainty we will face.To get the odds in our favour to reach our goal successfully, we need to study the following four points first.1.What could be a possible cause of derailment of our proposed investment.2.What are the things that could stand in the way of reaching a successful outcome.3.What are the valid arguments for, and against, the probability of success or failure.4.What is the extent of our awareness of the risk we are taking, or are we making a decision under partial ignorance.Applying these tests before making a decision is important. Since it not easy to know the answers to all the questions, many people do not bother and tend to be guided by their intuition. To play the forex market by intuition, to back horses by intuition, to play in casinos by intuition, all this of course, is a formula for disaster.If the more information we have about what we need to know provides a greater chance of success, then we must make it our business to get it. Knowledge andinformation, are the odds you need in your favour. Whatever the investment, it is not prudent to make a decision under ignorance. If you cannot accumulate enough information about the investment you want to make, stay away from that deal and wait for another.Of course, there are different types of investments, and therefore information and knowledge has to be pertinent to the particular investment.If we are talking about horses racing, we would need to know about the state of the going, meaning does the horse like soft ground, or hard ground, does it run better on a left hand turn track or a right hand turn track, what distance is it best at, what draw has it got, who is the jockey, what opposition is it running against etc.When we are talking about a football game, there are equally a series of questions that have to be answered. Are all the star players in the team, are they playing at home,against whom are they playing, and so forth. Playing the markets is a game based on a great deal of skill, but sometimes there are certain conditions which demand extreme caution, because any amount of skill can be derailed by events not always available for consideration in good time. Currency markets are vulnerable to a large number of factors which must be taken into account, especially when volatile conditions are present. One can either study the particular field, or be guided by experts and consultants who like some doctors, can be good, or extra good, but it is still better to take their advice than to do it alone. Of course if you only have a small cold, there is probably no need for a doctor. In the case of a major illness, you turn to the doctor. By the same ruling, if you invest very small money, you tend to use your own brains, but when playing in hundreds of thousands, it is prudent to seek the best help one can get, or certainly gather a great deal of knowledge and information before making a move.By careful process in gathering as many odds in your favour before firing, you will find that things will turn out more profitable, and certainly less risky.Precaution is an enemy of risk. Everybody knows that it is wise to take precaution, but not all take it. The few that do all they can, are wealthier and healthier, than the many who tend not to bother.

Importance Of Technology Changes In Business Computing

The importance of keeping up with changes in business computing and technology can be more important over time as your business grows. As and an IT professional far too often I have seen many small businesses get way too far behind in computing technology and wonder why they should pay for the upgrades. Usually I have to explain to them the hard way that the current computers system that are over 4 years old are not going to perform the requested task very well and are not supported by software. Usually do to combination of software changes and incompatibility with older software and hardware platforms that cause issues. I explain that it actually will cost them more money in the long run to try and maintain there existing computer equipment then buy a new replacement. Most small businesses fail to recognize that keep computer equipment very long periods actually can cost them more money to maintain those systems then the price of a replacement. One cost is the amount if money you pay out for replacement parts when there is no warranty on the old device. If the computer, server or printer is made by a specific manufacture then there is a good chance that you will have to go back to them for certain parts which can be very costly. Another problem is that they actually don’t make replacement parts for broke unit, this is a worse case issue I have seen although sometimes you might find a vendor that makes similar parts and hopefully it fits properly and works properly but not always. Another disadvantage is if your business is operating on older slower computer equipment that takes a long process customer request and this might open the door for your competition to take your clients away from you but offering better service. If your competition is reinvesting in there business computing and technology changes then most likely they will have the ability to complete products and request faster and at a cheaper rate. The advance technology will cost you money upfront but if the proper equipment is purchased and utilized in office it can add to your over all business. Some of benefits can include lower power requirements for the devices, more storage capacity for computer files, improved CPU along with memory speeding up processes run on the computer, faster and higher quality documents from new printers. Less down time and less delays in completion of customer request. These are just a few of the benefits of keeping up with technology in your business. I know that some of you are say that this is easier said then done and in some cases that is very true depending on your current business. But as a small business or home office you should plan for these events after all that is what large companies do and you should follow the same lead. Your business should have at least a basic IT business computing plan that has budget plan and cycling out of computer and office equipment. By having budget and plan in place it should not impact your business finance as much since you set planed ahead. The IT business computer plan should have some flexibility after all you don’t want to do a complete equipment change in the middle of a big job or shutdown your business at the wrong time. And if your business in booming and you don’t have them time then hiring a temp IT professional to help with computing change which might not be a bad idea. Investing in the proper technology is the key to success it does not matter if you have established small business, home office or if you’re a new startup business. Remember that your business most likely will change over time along with the clients you are serving so your computing equipment should also. In conclusion business computing when done right can truly add to your business by adding to productivity and efficiency of the day to day operations and can help you take on more clients and over all help you build your business. Hopefully this article has been informative and helpful to you. If you’re looking for more Business computing information and solutions then be sure to check our website listed below.

How to grow your business without debt or loans

What is factoring? Accounts receivable financing, also known as factoring, is a powerful financial tool that has fueled the growth and success of a number of companies. Factoring enables companies to capitalize on their unpaid receivables by selling them to a factoring company for immediate payment. With factoring, companies immediately get paid for their invoiced work from the factoring finance company, while the factoring company waits to be paid by the customers. Factoring strengthens a business' cash position by shortening the time to get invoices paid to 48 hours and providing the needed funds to meet current expenses and target new opportunities. Factoring Benefits As opposed to loans and lines of credit that require that the client have tangible assets and strong financials, factoring relies more heavily on the financial strength of the clients' customer. This is a critical feature,since many new and small businesses do not meet the financial criteria of traditional lending institutions. However, many small businesses have a roster of financially strong customers that can be leveraged. Factoring empowers businesses to capitalize on their customer list, and provides them with a tool to transform outstanding receivables into immediate cash, without generating debt. Since Factoring is not a loan, it is an ideal financial product for the following: o New and emerging businesses including small and home businesses, consultants and solo-preneurs. o Businesses with financially strong customers o Businesses that are preparing to grow significantly o Business with intangible assets (e.g. consultants) o Businesses that do not want to take a loan An additional benefit of factoring is that the factor usually assumes part of the clients' credit risk for the customer. This means that if the customer becomes financially insolvent due to bankruptcy and does not pay the invoice, the factor will assume the loss. This is a critical service for small companies who may not be able to afford the bankruptcy of a customer. Costs The costs of a factoring transaction - also known as the discount - vary based on a number of variables such as the financial strength of the customer and the amount being factored. Generally, the discount is a percentage of the invoice's face value that increases with time until the invoice gets paid. Small businesses, those that have between $20,000 and $300,000 in yearly revenues, can expect to pay a discount rate of about 2% for every ten (10) days that the invoice remains unpaid. Businesses with factorable revenues in excess of $300,000 can expect lower discount rates. Factoring at Work: Business Services and Products, Inc. Case Study Business Services and Products, Inc. (BSP, Inc.) is a small fictional company, which provides business consulting and equipment to local companies. It has $300,000 of annual revenues and during the past year BSP Inc. has enjoyed significant sales growth. Although most business owners would be very happy to manage such a company, Jane Sullivan, BSP Inc's president, is very worried about her company's financial position. Most of BSP Inc.'s customers are large companies with a good reputation for always paying their invoices. However they always take between 30 to 45 days to pay them. BSP Inc., however, needs to pay their employees every two weeks and their vendors every four weeks. This discrepancy between the time that customers pay their bills and the time BSP Inc. needs to pay their employees and vendors has created cash flow problems in the past. Furthermore, these cash flow problems have already caused Jane to delay payroll twice this year and have placed her trade (vendor) credit in jeopardy multiple times. This has also caused her to pass on a number of significant business opportunities because she was unsure of the company's financial ability to hire and pay for additional staffers. Unfortunately, BSP Inc. did not have a large enough financial cushion in the bank to afford paying employees while waiting for 45 days new clients to pay their invoices. The following table provides an overview of BSP, Inc's current financial position. Business Services and Products, Inc (without financing) Yearly sales: $300,000 Lost new sales opportunities: Unknown Total Sales: $300,000 Variable Costs (60% of Sales): $180,000 Fixed Costs (Rent, phones, etc): $20,000 Total Costs: $200,000 Profit (Sales - Costs): $100,000 Although the company's prospects appear great, Jane may have to stall her company's growth until she builds a large enough cash cushion at the bank to finance her company's growth. After careful consideration, Jane decided that a factoring line of working capital could help strengthen her company's financial position. Furthermore, factoring her invoices would enable BSP Inc. to take on new customers and continue growing, knowing that she could capitalize on her slow paying customers. BSP Inc.'s financing agreement will provide the company with an advance of 70% of her invoiced services. This means that the company can get 70% of the face value of the factored invoices within 24 to 48 hours of submitting them to the factor. The remaining 30% of the funds, less the factoring fees, will be quickly rebated as soon as the customer pays their invoice.This line of working capital strengthened the company's financial position and bank account, enabling Jane to pay for new employees to service new contracts. Jane also decided to use the extra capital to pay her vendors early, obtaining quick payment discounts and helping to reduce the cost of factoring. BSP Inc. customers pay their invoices within 30 days of receipt. The discount (factoring fee) for these invoices is 6%. Every time an invoice is paid, the factor rebates BSP Inc. the remaining 30% that was not advanced less the factoring fee. This means that once the transaction is completed, the factor rebates 24% (30% - 6%) to BSP Inc. Thanks to the factoring line of working capital, Jane was also to secure an additional $120,000 worth of business, bringing her annual revenues to $420,000. The following table shows BSP Inc.'s financial position a year after using factoring. Business Services and Products (with factoring) Existing Sales: $300,000 New Sales: $120,000 (factored) Total Sales: $420,000 Variable Costs (60% of Sales): $252,000 Fixed Costs (Rent, phones, etc.): $20,000 Cost of Factoring (6% of $120,000): $7,200 Total Costs: $279,200 Net Profit (Sales - Costs): $140,800 As can be seen from the above table, factoring helped BSP Inc. increase profits substantially from $100,000 to $140,800 - a 40% increase. It placed BSP Inc. on a more stable financial footing, priming it for growth. Furthermore, the cost impact of factoring on the bottom line was minimal, as it was easily absorbed by the additional business, showing that factoring was paid for directly by the growth.

The Important Function of Shredders -

Information and identity theft are two growing concerns in the world today. Paper shredders and file shredders can prevent the terrible losses that can occur when valuable information pertaining to a person or a business is stolen. Shredders destroy sensitive documents that contain private information that could cause trouble if obtained by the wrong people. Some of the sensitive information often found on paper items includes birth dates, social security numbers, bank account numbers, and business plans or other finance-related items.

Identity theft can have dire consequences. If a thief obtains someone’s social security number and birth date, he or she can then find out all kinds of financial information about the person and can use the person’s bank account. If this happens, the thief can spend all of the victim’s money, and the victim may or may not have a way of recovering the money. Identity thieves can ruin their victim’s credit by using the stolen credit cards to run up huge debts.

Corporate espionage is another serious problem involving information theft. More often than one might believe, employees steal secret business documents and sell them to competing companies. If thieves steal a business’ financial information, like credit card numbers and bank account numbers, they can spend all of the company’s money and possibly never get caught. It is vital to protect personal and professional information from would-be thieves by destroying documents and computer files that contain the information.

Paper shredders work by cutting sheets of paper into many very small pieces, making it difficult for thieves or corporate spies to reassemble the documents and gain private information. Some shredders cut the paper vertically into ribbons, while others cut the paper in a cross cutting motion, making it much harder to reassemble the page. These paper shredders have a number of features and many can provide maximum security.

File shredders permanently erase files from a computer. Most people think that emptying the computer’s recycling bin erases any files or programs that were in it, but the truth is that these files can be easily accessed using basic retrieval software. File shredding software ensures that sensitive files containing private information can’t be accessed.

Not all types of shredders are used to protect business or personal information. Chip shredders are heavy-duty tools used to break wood, leaves, and other materials down. Once the materials are shredded, they can be used to make mulch or compost.

Shredders are valuable tools in a number of situations. Paper and file shredders provide protection against information theft and chip shredders are valuable landscaping tools.