LaunchPad brings together all of the players in the Southern California middle market sector of the private capital markets. Sponsored by the Alliance of Mergers & Acquisitions, Dr. John Paglia shares findings from the Summer 2011
For the Risk Management Association, Pepperdine University researcher John Paglia offers a perspective on data and current trends on capital markets across major segments. Sourcing the most results from the on-going Pepperdine Private Capital Markets Project, Dr. Paglia share how these markets work in relation to the publicly traded markets .
Successful strategic alliances between financial advisors and other professionals like CPAs and attorneys benefit all parties. The other professionals can offer more complete financial services to better serve existing clients, gain new clients, and increase revenue. Financial advisors obtain significant new assets under management in a cost-effective way by gaining referrals through the alliance. Strategic alliances open doors, build trust, and create new business opportunities for both alliance partners.
Stanlib Multi-Manager Mindset: Embracing the New Financial LandscapeSTANLIB
The financial advisory landscape has changed significantly over the past decade due to increased regulation. The implementation of the Retail Distribution Review and a "Twin Peaks" model of regulation aim to improve professionalism and investor outcomes. This changing landscape presents opportunities and challenges for financial advisors. While robo-advisors present competition, the need for financial advice is greater than ever due to challenges like increasing longevity, high debt levels, and lack of savings and financial literacy among the population. Financial advisors that focus on holistic planning and helping clients achieve life goals through appropriate investments will remain relevant.
Fact-based investing involves making investment decisions based on factual analysis rather than emotions or predictions. It may lead to more frequent trading and higher costs. The document provides an overview of fact-based investing and cautions that investors should consult their financial advisor and tax expert to determine if this approach is appropriate for their individual needs and circumstances. Contact information is provided for Optimum Wealth Management.
Open Business Council offers resources, Trade Finance, business advice, SME Finance and a forum and directory for businesses!
http://www.openbusinesscouncil.org/
John McGonagle • EPI Advisors, LLC
- Understanding the relevance of risk-adjusted returns by Dave Walton
- Strongest jobs gain since 2012 surprises markets
- Building stronger visibility for an advisory firm (Rodger Sprouse, Titan Securities)
The document provides an overview of venture capital (VC) partnerships and investment processes. It describes how VC partnerships are structured, with general partners who manage funds contributed by limited partners. It also outlines the VC investment cycle, from deal sourcing and due diligence to supporting portfolio companies. Trends in the size of VC funds and minimum investments are discussed, and how these impact the types of startups that receive funding. The document encourages asking questions to determine if a particular VC firm is in a position and a good fit to provide funding.
The document discusses several types of business crises including starting, cash flow, delegation, leadership, financial, prosperity, and management succession crises. It provides causes and recommendations for how to prevent or overcome each type of crisis. Key advice includes thorough planning, developing management teams, effective delegation, consultation with experts, succession planning, and being adaptive to changes.
For the Risk Management Association, Pepperdine University researcher John Paglia offers a perspective on data and current trends on capital markets across major segments. Sourcing the most results from the on-going Pepperdine Private Capital Markets Project, Dr. Paglia share how these markets work in relation to the publicly traded markets .
Successful strategic alliances between financial advisors and other professionals like CPAs and attorneys benefit all parties. The other professionals can offer more complete financial services to better serve existing clients, gain new clients, and increase revenue. Financial advisors obtain significant new assets under management in a cost-effective way by gaining referrals through the alliance. Strategic alliances open doors, build trust, and create new business opportunities for both alliance partners.
Stanlib Multi-Manager Mindset: Embracing the New Financial LandscapeSTANLIB
The financial advisory landscape has changed significantly over the past decade due to increased regulation. The implementation of the Retail Distribution Review and a "Twin Peaks" model of regulation aim to improve professionalism and investor outcomes. This changing landscape presents opportunities and challenges for financial advisors. While robo-advisors present competition, the need for financial advice is greater than ever due to challenges like increasing longevity, high debt levels, and lack of savings and financial literacy among the population. Financial advisors that focus on holistic planning and helping clients achieve life goals through appropriate investments will remain relevant.
Fact-based investing involves making investment decisions based on factual analysis rather than emotions or predictions. It may lead to more frequent trading and higher costs. The document provides an overview of fact-based investing and cautions that investors should consult their financial advisor and tax expert to determine if this approach is appropriate for their individual needs and circumstances. Contact information is provided for Optimum Wealth Management.
Open Business Council offers resources, Trade Finance, business advice, SME Finance and a forum and directory for businesses!
http://www.openbusinesscouncil.org/
John McGonagle • EPI Advisors, LLC
- Understanding the relevance of risk-adjusted returns by Dave Walton
- Strongest jobs gain since 2012 surprises markets
- Building stronger visibility for an advisory firm (Rodger Sprouse, Titan Securities)
The document provides an overview of venture capital (VC) partnerships and investment processes. It describes how VC partnerships are structured, with general partners who manage funds contributed by limited partners. It also outlines the VC investment cycle, from deal sourcing and due diligence to supporting portfolio companies. Trends in the size of VC funds and minimum investments are discussed, and how these impact the types of startups that receive funding. The document encourages asking questions to determine if a particular VC firm is in a position and a good fit to provide funding.
The document discusses several types of business crises including starting, cash flow, delegation, leadership, financial, prosperity, and management succession crises. It provides causes and recommendations for how to prevent or overcome each type of crisis. Key advice includes thorough planning, developing management teams, effective delegation, consultation with experts, succession planning, and being adaptive to changes.
The document provides an overview of the participants in the 2019 Global Family Office Report, noting that 80% of the 360 participating family offices were single family offices and 20% were multi-family offices, with the largest regional representation coming from North America at 58% followed by Europe at 22% and Asia-Pacific at 11%, and that this year's report includes new additions like regional trend analyses and attitudes on various macro topics.
10 Questions to Ask at Your Next Board MeetingRoger Branch
This document provides 10 questions for company boards to focus on at meetings to drive strategic discussion and long-term performance. The questions are divided into 3 governance questions regarding key metrics, risk management, and board composition, and 7 strategic questions focused on market changes, growth plans, evaluating proposals, and balancing mission with sustainability. Addressing these questions is meant to help boards focus on strategic issues rather than getting bogged down in procedural activities.
This was a presentation made to elected councillors who wanted some advice about questions they could ask when scrutinising their council's budget. I think, however, that the questions could be asked by any stakeholder about a budget.
1) Valuing family-owned businesses can be more challenging than other businesses due to psychological factors like owners being attached to the business and expecting high valuations. It also involves accounting for owner/manager salaries and related party transactions.
2) Key challenges in valuing family businesses include applying appropriate liquidity and size discounts due to their smaller size, addressing corporate governance issues, and considering how shareholder agreements and exit clauses impact minority share valuations.
3) Valuators must make company-specific accounting adjustments to determine a "steady state" valuation, remove owner/manager salaries and benefits, add back potential replacement costs, and potentially apply conglomerate discounts if the business is diversified.
This document summarizes equity financing options for businesses. It discusses that equity financing involves selling stock, membership, or partnership interests in exchange for cash or property. The benefits are that there is no fixed repayment date, funds can be used flexibly, and no assets are tied up as collateral. However, the costs are dilution of ownership and control, as well as having to consider minority owner interests. Equity financing may be better for growth businesses, those with few assets for loans, or those with inconsistent revenues for debt payments.
Capital Markets Survey: Growth Capital EditionKenneth Cowan
The survey summarizes the responses from 27 leading growth capital providers representing over $50B in invested capital. Key insights include an increased supply of deployable capital compared to 2013 and rising deal multiples/leverage due to high demand. Most management teams need improvement in strategic planning, accounting/finance, and sales/marketing. Respondents were neutral on the economy but saw increased regulation as the biggest threat to middle-market businesses. Proper planning and preparation were emphasized as critical for a successful transaction.
Graydon's Tips on how to improve your business credit rating. By following a few simple tips, you can improve your business credit report, give more confidence to your suppliers, achieve better credit terms, trade more and achieve better business image.
This document discusses micro-VC firms, which are venture capital firms that typically invest between $250K-$2MM with fund sizes under $100MM. The number of micro-VC firms has grown significantly since 2009 due to factors like lower startup costs and evidence they outperform larger funds. Currently there are over 250 micro-VC firms globally, most located in California, with 35% having funds under $25MM. Some top performing micro-VC firms may grow into larger venture firms in the future, while others may struggle if expected market difficulties occur.
It is growing increasingly important for not-for-profit boards,
finance committees and management to expand their view of
their organization’s financial performance.
Maximizing Shareholder Value in the Print and Graphics Communications Industr...jhyde
This document summarizes options for owners of successful printing and graphic communications companies to maximize shareholder value, including private equity, employee stock ownership plans (ESOPs), and strategic mergers and acquisitions (M&A). It provides an overview of the characteristics of companies and owners that are ideal candidates for these options, and discusses factors for success and aligning objectives with potential buyers.
Micro-VCs are venture capital firms that primarily invest in seed stage startups with initial check sizes between $250K-$2MM. They invest on behalf of limited partners with fund sizes typically under $100MM. The number of Micro-VC firms has grown significantly since 2009 due to lower barriers to entry, capital efficiency of startups, and data showing smaller funds outperform larger ones. Currently there are over 250 Micro-VC firms globally, with about half located in California, especially the San Francisco Bay Area. Top performing Micro-VCs are expected to continue outperforming larger funds and some may graduate to become full-stack venture firms raising larger funds.
This document discusses how technology, regulation, and market forces are disrupting the traditional banking model. It outlines that customers want good service, fast access to products and services, and lower costs. The traditional "one stop shop" banking model faces challenges from conflicts of interest, high costs of capital, and reduced risk appetite. New winners in the financial industry include fintech companies providing cheaper money transfers, non-bank lending, hedge funds, private equity, and independent M&A boutiques. Regulation is pushing banks to separate activities and reducing the viability of the full service model.
Small Business Credit Survey, May 2013 Key FindingsThe New York Fed
As part of its regional and community outreach, the New York Fed asks small businesses in our region about their credit needs and experiences. In the May 2013 survey, we heard from 812 small businesses in New York, New Jersey, and Connecticut. Most business owners we polled cite access to capital as a top growth concern, but only a third of firms actually report applying for credit in 2012. Credit applicants were mostly experienced and higher performing small businesses and more of them received full funding than in past surveys. Among the non-applicants, fewer firms self-identified as being discouraged or not applying because they anticipated being declined. Looking to future credit use, there are clear distinctions between applicants and non-applicants. A majority of firms that are planning to apply for credit in the next two quarters of 2013 will be re-applicants. In contrast, the majority of non-applicants finance their operations primarily through retained earnings rather than relying on credit in the near term.
Lower discount rates and declining asset returns negatively impacted pension plan funding in 2014. Funded ratios declined roughly 9% on average as discount rates fell between 84-100 basis points. Longer life expectancies also increased liabilities, with estimates that plan obligations rose 5-10% based on updated mortality tables. Looking ahead, plan sponsors will need to evaluate the impact of lower funding levels on required contributions and PBGC premiums.
What's New with Corporate Retirement Plans? More Than You ThinkSkoda Minotti
This presentation discusses the rapidly changing (and litigious) landscape of corporate retirement plans and the best practices top companies are implementing to maintain a quality benefit offering, reduce risk exposures, and retain top talent.
Tone at the Top - Questions to ask at Board MeetingsRobert Seestadt
The document discusses establishing "tone at the top" through board oversight and asking questions at meetings. It provides 25 questions for boards to consider asking management teams to gain insight. Examples include asking about cash reserves, insurance coverage, key challenges, and compliance with audit recommendations. The questions are meant to facilitate open-ended discussions about operations, planning, risks and controls.
The document discusses various topics related to entrepreneurial financing including:
1) It discusses common misconceptions about entrepreneurial financing sources and outlines the diverse nature of business financing options.
2) It describes how to finance smaller businesses with modest growth potential using bootstrapping, self-financing, and loans.
3) It outlines how to finance high-growth, high-potential ventures using equity financing sources like angels and venture capitalists as well as debt financing.
Mercer Capital | Unlocking Private Company WealthMercer Capital
With the current up-tick in the economy and the demographic realities of baby boomer business owner transitions, estate planners have a client base that may be seeking to monetize their investment in their closely held businesses. Many business owners immediately assume that means an outright sale. However, there are other liquidity options to consider.
This session, presented at the recent 2015 Heckerling Institute on Estate Planning, covered various liquidity options including dividend policy, partial sales to insiders, employee stock ownership plans, private equity investors, as well as third party sales.
This document summarizes key points from a presentation on the cost of capital for small and medium enterprises. It discusses findings from the Pepperdine Private Capital Markets Project, including expected returns for different capital providers and the status of privately-held businesses. The presentation covered topics such as sources of financing for businesses of various sizes, issues facing private companies, and estimates of cost of equity by revenue size.
The document summarizes the findings of a quarterly survey of 238 M&A advisors regarding market conditions for small and lower middle market businesses. Key findings include:
1) Advisors expect increased deal volume and closings in 2014, with valuations remaining strong and more sellers coming to market.
2) The biggest hurdles in 2013 were valuation issues, financing issues, and deal fatigue, while the biggest mistakes sellers make is having unrealistic expectations.
3) The market remains polarized but is shifting toward more seller leverage, and retirement is the primary reason driving most sellers to market.
4) Median multiples stayed flat except increasing in the $5-50M market, and larger deals on
The document provides an overview of the participants in the 2019 Global Family Office Report, noting that 80% of the 360 participating family offices were single family offices and 20% were multi-family offices, with the largest regional representation coming from North America at 58% followed by Europe at 22% and Asia-Pacific at 11%, and that this year's report includes new additions like regional trend analyses and attitudes on various macro topics.
10 Questions to Ask at Your Next Board MeetingRoger Branch
This document provides 10 questions for company boards to focus on at meetings to drive strategic discussion and long-term performance. The questions are divided into 3 governance questions regarding key metrics, risk management, and board composition, and 7 strategic questions focused on market changes, growth plans, evaluating proposals, and balancing mission with sustainability. Addressing these questions is meant to help boards focus on strategic issues rather than getting bogged down in procedural activities.
This was a presentation made to elected councillors who wanted some advice about questions they could ask when scrutinising their council's budget. I think, however, that the questions could be asked by any stakeholder about a budget.
1) Valuing family-owned businesses can be more challenging than other businesses due to psychological factors like owners being attached to the business and expecting high valuations. It also involves accounting for owner/manager salaries and related party transactions.
2) Key challenges in valuing family businesses include applying appropriate liquidity and size discounts due to their smaller size, addressing corporate governance issues, and considering how shareholder agreements and exit clauses impact minority share valuations.
3) Valuators must make company-specific accounting adjustments to determine a "steady state" valuation, remove owner/manager salaries and benefits, add back potential replacement costs, and potentially apply conglomerate discounts if the business is diversified.
This document summarizes equity financing options for businesses. It discusses that equity financing involves selling stock, membership, or partnership interests in exchange for cash or property. The benefits are that there is no fixed repayment date, funds can be used flexibly, and no assets are tied up as collateral. However, the costs are dilution of ownership and control, as well as having to consider minority owner interests. Equity financing may be better for growth businesses, those with few assets for loans, or those with inconsistent revenues for debt payments.
Capital Markets Survey: Growth Capital EditionKenneth Cowan
The survey summarizes the responses from 27 leading growth capital providers representing over $50B in invested capital. Key insights include an increased supply of deployable capital compared to 2013 and rising deal multiples/leverage due to high demand. Most management teams need improvement in strategic planning, accounting/finance, and sales/marketing. Respondents were neutral on the economy but saw increased regulation as the biggest threat to middle-market businesses. Proper planning and preparation were emphasized as critical for a successful transaction.
Graydon's Tips on how to improve your business credit rating. By following a few simple tips, you can improve your business credit report, give more confidence to your suppliers, achieve better credit terms, trade more and achieve better business image.
This document discusses micro-VC firms, which are venture capital firms that typically invest between $250K-$2MM with fund sizes under $100MM. The number of micro-VC firms has grown significantly since 2009 due to factors like lower startup costs and evidence they outperform larger funds. Currently there are over 250 micro-VC firms globally, most located in California, with 35% having funds under $25MM. Some top performing micro-VC firms may grow into larger venture firms in the future, while others may struggle if expected market difficulties occur.
It is growing increasingly important for not-for-profit boards,
finance committees and management to expand their view of
their organization’s financial performance.
Maximizing Shareholder Value in the Print and Graphics Communications Industr...jhyde
This document summarizes options for owners of successful printing and graphic communications companies to maximize shareholder value, including private equity, employee stock ownership plans (ESOPs), and strategic mergers and acquisitions (M&A). It provides an overview of the characteristics of companies and owners that are ideal candidates for these options, and discusses factors for success and aligning objectives with potential buyers.
Micro-VCs are venture capital firms that primarily invest in seed stage startups with initial check sizes between $250K-$2MM. They invest on behalf of limited partners with fund sizes typically under $100MM. The number of Micro-VC firms has grown significantly since 2009 due to lower barriers to entry, capital efficiency of startups, and data showing smaller funds outperform larger ones. Currently there are over 250 Micro-VC firms globally, with about half located in California, especially the San Francisco Bay Area. Top performing Micro-VCs are expected to continue outperforming larger funds and some may graduate to become full-stack venture firms raising larger funds.
This document discusses how technology, regulation, and market forces are disrupting the traditional banking model. It outlines that customers want good service, fast access to products and services, and lower costs. The traditional "one stop shop" banking model faces challenges from conflicts of interest, high costs of capital, and reduced risk appetite. New winners in the financial industry include fintech companies providing cheaper money transfers, non-bank lending, hedge funds, private equity, and independent M&A boutiques. Regulation is pushing banks to separate activities and reducing the viability of the full service model.
Small Business Credit Survey, May 2013 Key FindingsThe New York Fed
As part of its regional and community outreach, the New York Fed asks small businesses in our region about their credit needs and experiences. In the May 2013 survey, we heard from 812 small businesses in New York, New Jersey, and Connecticut. Most business owners we polled cite access to capital as a top growth concern, but only a third of firms actually report applying for credit in 2012. Credit applicants were mostly experienced and higher performing small businesses and more of them received full funding than in past surveys. Among the non-applicants, fewer firms self-identified as being discouraged or not applying because they anticipated being declined. Looking to future credit use, there are clear distinctions between applicants and non-applicants. A majority of firms that are planning to apply for credit in the next two quarters of 2013 will be re-applicants. In contrast, the majority of non-applicants finance their operations primarily through retained earnings rather than relying on credit in the near term.
Lower discount rates and declining asset returns negatively impacted pension plan funding in 2014. Funded ratios declined roughly 9% on average as discount rates fell between 84-100 basis points. Longer life expectancies also increased liabilities, with estimates that plan obligations rose 5-10% based on updated mortality tables. Looking ahead, plan sponsors will need to evaluate the impact of lower funding levels on required contributions and PBGC premiums.
What's New with Corporate Retirement Plans? More Than You ThinkSkoda Minotti
This presentation discusses the rapidly changing (and litigious) landscape of corporate retirement plans and the best practices top companies are implementing to maintain a quality benefit offering, reduce risk exposures, and retain top talent.
Tone at the Top - Questions to ask at Board MeetingsRobert Seestadt
The document discusses establishing "tone at the top" through board oversight and asking questions at meetings. It provides 25 questions for boards to consider asking management teams to gain insight. Examples include asking about cash reserves, insurance coverage, key challenges, and compliance with audit recommendations. The questions are meant to facilitate open-ended discussions about operations, planning, risks and controls.
The document discusses various topics related to entrepreneurial financing including:
1) It discusses common misconceptions about entrepreneurial financing sources and outlines the diverse nature of business financing options.
2) It describes how to finance smaller businesses with modest growth potential using bootstrapping, self-financing, and loans.
3) It outlines how to finance high-growth, high-potential ventures using equity financing sources like angels and venture capitalists as well as debt financing.
Mercer Capital | Unlocking Private Company WealthMercer Capital
With the current up-tick in the economy and the demographic realities of baby boomer business owner transitions, estate planners have a client base that may be seeking to monetize their investment in their closely held businesses. Many business owners immediately assume that means an outright sale. However, there are other liquidity options to consider.
This session, presented at the recent 2015 Heckerling Institute on Estate Planning, covered various liquidity options including dividend policy, partial sales to insiders, employee stock ownership plans, private equity investors, as well as third party sales.
This document summarizes key points from a presentation on the cost of capital for small and medium enterprises. It discusses findings from the Pepperdine Private Capital Markets Project, including expected returns for different capital providers and the status of privately-held businesses. The presentation covered topics such as sources of financing for businesses of various sizes, issues facing private companies, and estimates of cost of equity by revenue size.
The document summarizes the findings of a quarterly survey of 238 M&A advisors regarding market conditions for small and lower middle market businesses. Key findings include:
1) Advisors expect increased deal volume and closings in 2014, with valuations remaining strong and more sellers coming to market.
2) The biggest hurdles in 2013 were valuation issues, financing issues, and deal fatigue, while the biggest mistakes sellers make is having unrealistic expectations.
3) The market remains polarized but is shifting toward more seller leverage, and retirement is the primary reason driving most sellers to market.
4) Median multiples stayed flat except increasing in the $5-50M market, and larger deals on
The Pepperdine Private Capital Markets Project, available at http://bschool.pepperdine.edu/privatecapital, is the first comprehensive and simultaneous investigation of the major private capital market segments. The initial research survey examined the behavior of the private capital market participants, investment types, expected and historical rates of return, financial ratio thresholds, coupon rate distributions and other investment characteristics.
The document summarizes the findings of the Pepperdine Private Capital Markets Project survey of privately held businesses in spring 2011. It finds that while business owners are enthusiastic about growth, many lack the financial resources to execute their strategies. Access to capital remains a challenge, especially for smaller companies. Deal activity and valuations are improving for larger companies but still difficult for smaller firms. Overall conditions are improving from six months ago but challenges around access to capital remain, particularly for securing senior debt.
Results from the latest Pepperdine Private Capital Access (PCA) Index quarterly report show access to capital for businesses of all sizes increased in Q1 2014 from the previous quarter and is the highest since the inception of the report in Q2 2012. Visit: http://bschool.pepperdine.edu/accesscapital
The document summarizes findings from a survey of professionals in private capital markets and privately-held businesses. Key findings include:
1) Significant declines in lending across all private capital market segments due to reduced credit quality and demand, with mezzanine finance being the only segment to increase in size.
2) Privately-held businesses have high return expectations but show signs of struggle, with many reporting decreased access to capital and increased competitive pressures and failure risks.
3) While businesses are optimistic about fundraising prospects, their qualification rates are actually lower than reported, especially for smaller companies.
Research John Paglia, director of the Pepperdine Private Capital Markets Project at the Graziadio School of Business and Management, describes accessing capital for privately-held companies based on the latest results from his ongoing cost of private capital investigation.
This document provides an overview of Equity Endeavor, Inc., a crowdfunding platform designed for small businesses. It introduces the founding team and describes two major trends driving the company's creation: 1) Small businesses struggle to access capital for growth, and 2) Crowdfunding has grown significantly but existing platforms are not well-suited for small businesses. Equity Endeavor aims to address this problem with a rewards-based crowdfunding platform focused on local small businesses. An initial pilot in Austin and New Orleans saw success in helping businesses raise funds.
The document discusses the challenges private equity firms face in "buying well" in today's competitive market environment. It notes that high entry multiples, an abundance of dry powder, and increased competition from other buyers have made it difficult to find attractive deals. Private equity firms must focus on developing sector expertise, building relationships, and having a robust value creation plan to succeed in this environment where simple multiple arbitrage is no longer sufficient. Management issues are also a primary reason why deals fall apart after due diligence.
This document summarizes research on how financial constraints affect small firm performance. It finds that discouraged borrowers have significantly lower productivity than self-sufficient firms, while successful seekers have significantly higher productivity. Business strategies and capabilities can mediate and moderate this relationship. Specifically, necessity drives financially constrained firms to implement strategies like workforce training and innovation more. However, high capabilities only boost productivity for self-sufficient and successful firms, and reduce it for discouraged and failed seekers. The research also provides preliminary results on transitions between financial statuses year-to-year and outlines further steps to test other mediating mechanisms.
Corporate clients are largely dissatisfied with the services provided by their banks. Only 20% reported high satisfaction. Clients feel banks do not support their expanding roles and complex networks. They need more guidance on cash management challenges. Communication from banks is inadequate and infrequent. Clients lack trust in banks' understanding of their businesses and industries. This disconnect could lead clients to seek other financial partners. Losing a single $1B+ client could cost a bank over $500,000 in lost profits over 8 years. Retaining relationships could improve bank profits by 80%. Clients want strategic insights, risk expertise, industry analysis and advice to help their goals. They ask to be informed on regulations and technologies. Concise intelligence
Today's corporate bank clients are largely dissatisfied with the services their financial institutions provide.
In a recent survey, only one in five corporate financial professionals indicated a high level of satisfaction with their bank. In fact, more than half of financial managers surveyed describe the quality of communications from their banks as both “inadequate” and “too infrequent.
Partner Training: The Small Business SectorBizcentralUSA
This document provides an overview of small businesses in the United States. It defines what constitutes a small business, notes their importance to the economy, and discusses reasons why people start their own businesses. Additionally, it outlines current challenges small businesses face, factors that increase the chances of success, and emphasizes the importance of planning. The document concludes by describing the services offered by BizCentral USA to support small business startups.
Apple Capital Group provides low-cost, streamlined equipment financing for small and medium sized businesses, focusing on high potential sectors like transportation, construction, and cannabis. It offers aggressive financing fees and works for the buyer, not the vendor. The company was founded in 2014 and has originated over $20 million in leases. It aims to generate $500,000 in revenue by end of 2017 through loan origination fees and portfolio income.
The document discusses the findings of the 10th edition of the EY Global Capital Confidence Barometer survey. Key points include:
- 60% of executives see the global economy improving and have confidence in corporate earnings, despite economic shocks. Executives have resilient confidence in the face of challenges.
- The "future of work" trend around skills shortages and changing employer-employee relationships is expected to most impact business and acquisition strategies over the next year.
- Executives in countries like Australia and France have the most positive views of the global economy. Confidence in indicators like credit availability and earnings are at high levels.
- While deal volumes may remain modest, increased deal values and
Ernst & Young - Private Equity primed for new opportunitiesCAR FOR YOU
The survey found that private equity CFOs have expertly navigated regulatory challenges and are focused on operational efficiencies. Nearly half of CFOs see increasing regulation and compliance as their top concern over the next two years due to the drain on resources. Most anticipate regulatory changes will increase costs, and about 40% feel regulations may inhibit cost control and infrastructure improvements. However, CFOs have generally dealt confidently with regulatory burdens like FATCA and AIFMD and do not expect them to reduce fundraising efforts. CFOs are also enhancing valuation processes and increasing involvement in preparing valuations to address regulator and investor demands.
This document provides summaries of several articles from an investment magazine. It discusses how Millennials view money and investing differently than previous generations, focusing more on social media companies and expecting transparency. It also summarizes an article on how corporate stock buybacks provide continued support for stock prices. Finally, it interviews an advisory couple on how they get to know clients personally and use active money managers to construct customized portfolios tailored to each client's needs and risk tolerance.
The survey found that mid-market companies are moderating their spending and investments compared to six months ago, despite remaining confident in the economy. Hiring and capital spending growth have slowed, though companies expect better results in the coming year than the previous year. Voluntary employee attrition is also increasing as the labor market strengthens. While pursuing organic growth strategies over partnerships, companies report focusing internally on aspects like technology, customers, and productivity to fuel future expansion. Uncertain economic conditions remain the top challenge to company growth according to the survey.
Silicon Valley Bank’s annual Startup Outlook survey provides insight into how startups in the US, UK and China are feeling about the year ahead. The 2016 report finds that while startups across the globe are eternally optimistic, they are preparing for a new reality.
Learn more about the Startup Outlook Report and view the UK and China reports at www.svb.com/IEO.
The document summarizes the findings of a survey on capital confidence and M&A outlook. Some key points:
- Executives are more confident in the stability of the global economy, improving M&A sentiment. Nearly half see the economy as stable.
- Deal pipelines and expectations for future deals have increased significantly over the past six months. Two-thirds expect further expansion.
- The vast majority (81%) are focused on middle-market deals below $1 billion to expand their core businesses, fueling the next wave of M&A activity.
- Appetite for M&A is at a three-year high, with 40% expecting to pursue acquisitions in the next
Peer-to-business crowdlending for investorsFundingKnight
This document is a report summarizing benchmarks and trends in peer-to-business (P2B) crowdlending in 2014. Some key findings include: over 75% of high net worth individuals had used or were open to using crowdlending; over half of lenders typically invest between £5,000-£20,000 per year; and trusting the business owner was twice as important a factor for women investors compared to men. The report is based on a survey of 238 high net worth individuals in the UK.
GMI's vision is to become the leading private wealth management company in South Africa with fully operational offices in major cities by 2020. It offers a range of investment and wealth protection services. The document discusses GMI's growth trajectory, team of qualified advisors, and what sets them apart including their independence, professionalism, confidentiality, and empowerment as a black-owned and managed firm. It provides tips for entrepreneurs on working with a financial advisor to plan for personal risks and investments, strengthen their business balance sheet, and design a sensible retirement plan.
Why Own Safeguard?
- Full Value Yet to be Realized
- Ownership Stakes in Exciting Partner Companies
- Top Performance of Proven Team
- Financial Strength, Flexibility and Liquidity
- Strong Alignment of Interests
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
Credit availability in Canada 2014: Targeting an ideal capital structurelbobak
The majority of Canadian financial executives surveyed by the Canadian Financial Executives Research Foundation are more optimistic about their company’s ability to obtain sufficient capital to meet its financing requirements in the next year (whether these needs are short-term, long-term or equity based). Most financial executives surveyed said credit for working capital and growth financing is generally available to their organizations, according to the study, which was published by the research arm of Financial Executives International Canada (FEI Canada), and sponsored by EY. The report, entitled Targeting an ideal capital structure, is based on the results of an online survey of financial executives across Canada, which took place in June 2014. According to the study, even those for whom credit was less available this year, the expectation is availability will improve by the spring of 2015.
Similar to Paglia am&aa launchpad keynote final 6.09.2011 (20)
Produced e-magazine highlight entrepreneurs and entrepreneurship program, intended for online viewing. Assembled content, managed freelance writers, and executed design and layout.
Produced e-magazine highlight entrepreneurs and entrepreneurship program, intended for online viewing. Assembled content, managed freelance writers, and executed design and layout.
Produced e-magazine highlight entrepreneurs and entrepreneurship program, intended for online viewing. Assembled content, managed freelance writers, and executed design and layout.
Produced e-magazine highlight entrepreneurs and entrepreneurship program, intended for online viewing. Assembled content, managed freelance writers, and executed design and layout.
This document discusses three milestones reached by programs at the Graziadio School during the 2013-2014 academic year. It discusses:
1) The 10th anniversary of the Education-to-Business (E2B) MBA consulting program, which brings executives and students together in the classroom to solve real business issues.
2) The Executive MBA program enrolling its 100th cohort.
3) The 10th anniversary of the Drescher Graduate Campus in Malibu, which expanded facilities for graduate business students.
The document reflects on the impact of focusing on innovation and engagement over decades and the importance of continuing to adapt programs to meet student needs in the future.
Graziadio Magazine highlights the academic year's people, milestones and accomplishments that enriched student learning, enhanced thought leadership, cultivated community, built partnerships and advanced reputation at Pepperdine University's Graziadio School of Business and Management.
The 2014 Economic Forecast collected insights from over 3,600 small and mid-sized business owners and gauged their level of confidence for economic growth over the next year. Pepperdine University’s Graziadio School of Business and Management together with Dun & Bradstreet Credibility Corp. also assessed business owners’ perspective on which government policies promote or hinder economic growth. The research was conducted under the auspices of the Pepperdine Private Capital Markets Project at http://bschool.pepperdine.edu/privatecapital.
Businesses report that access to capital is highest in nearly two years. The Pepperdine Private Capital Access (PCA) and Private Capital Demand (PCD) Index measures the demand for, activity and health of the privately-held businesses on a quarterly basis. A value of less than fifty for an index represents a low level of access or demand, while a value greater than fifty can be interpreted as relatively high capital access or demand. The research was conducted under the auspices of the Pepperdine Private Capital Markets Project, in partnership with Dun & Bradstreet Credibility Corp. Visit: http://bschool.pepperdine.edu/accesscapital
That bug that’s going around might be bugging your bottom line if you are a small business owner, according to a new survey from Pepperdine University, conducted in partnership with Dun & Bradstreet Credibility Corp. Smaller companies — those with revenues of less than $5 million — reported each sick employee cost them an average of $22,802. For larger companies, the average cost was $15,806.
LAUNCH! Magazine celebrates the creativity,
dedication to responsible business practice and entrepreneurial spirit of students and alumni at Pepperdine University’s Graziadio School of Business and Management, principles fundamental to its mission and
that the school and its faculty have embraced and actively advanced for more than 40 years.
New insights and data on pricing capital in today’s competitive environment from the Pepperdine Private Capital Markets Project show challenges remain for lenders, investors and the private business that depend on them. Lead researcher John Paglia presented at the National Summit for Middle Market Funds.
New insights and data on pricing capital in today’s competitive environment from the Pepperdine Private Capital Markets Project show challenges remain for lenders, investors and the private business that depend on them. Lead researcher John Paglia presented at the National Summit for Middle Market Funds.
This document provides an economic forecast from small and mid-sized business owners for 2012. It includes projections for US GDP growth, unemployment, and other economic indicators. It also examines business owner confidence levels, impediments to growth, hiring plans, and prospects for raising capital. The respondents favored increasing access to capital and regulatory reform as policies to spur job creation over education reform or increasing competitiveness with trade partners. Overall, the report analyzes the economic outlook and policy perspectives of small and mid-sized businesses.
This document summarizes the use of the private cost of capital model for valuing privately held companies. It discusses that privately held companies obtain capital from private rather than public markets, so their cost of capital should be based on expected returns in private capital markets. The Pepperdine Private Capital Markets Project surveys private capital providers to determine expected returns by type of capital and investment size. These expected returns are used to estimate cost of capital for privately held firms according to the private capital they would likely obtain.
M&A Outlook: Turning Point or Roadblock Ahead for the Capital Markets?
Pepperdine Private Capital Markets Project presents the findings from its Spring 2011 survey of private lenders and investors, and the privately-held companies they serve.
Dr. John Paglia, lead research for the Pepperdine Private Capital Project, presented a workshop on his cost of private capital model at IACVA-Germany's Fourth Annual Business Valuation Conference on October 8, 2010 in Munich. http://bschool.pepperdine.edu/privatecapital
Professor John Paglia, lead researcher for the Pepperdine Private Capital Market Project, spoke at the annual meeting of the National Association of Small Business Investment Companies (NASBIC) in Palm Beach, Florida. He addressed the National Summit for Lower Middle Market Funds, the premier networking event for lower middle market private equity funds, independent sponsors, investors and service providers. http://bschool.pepperdine.edu/privatecapital
This document discusses how operational innovation can transform a company through deep change led by an influential person named Bill. It provides three steps to operational innovation: identify constraining assumptions, rethink critical dimensions of work, and beware of organizational barriers like a culture that undervalues operations. Operational innovation should be continuous to gain competitive advantages and thrive in today's globally competitive environment of low industry growth.
The Pepperdine Private Capital Markets Project previews key finding from its forthcoming 126-page report detailing the 2010 outlook for private capital providers and privately-held businesses.
The Pepperdine Private Capital Markets Project previews key finding from its forthcoming 126-page report detailing the 2010 outlook for private capital providers and privately-held businesses.
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
Paglia am&aa launchpad keynote final 6.09.2011
1. The State of the Private Capital Markets Private Capital Markets LaunchPad June 10, 2011 John K. Paglia, Ph.D., CFA, CPA Associate Professor of Finance Senior Researcher, Pepperdine Private Capital Markets Project
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8. Prob. of failure finally declines Net income expectations positive