10 Business Lessons You Can Learn from Parenthood

Redaksi    Monday, August 26, 2024    Comment   

10 Business Lessons You Can Learn from Parenthood

10 Business Lessons You Can Learn from Parenthood.

Parenthood is a journey filled with challenges, joy, and countless learning opportunities. Interestingly, many of the skills and lessons parents pick up along the way can be directly applied to the world of business. Here are ten key business lessons that parenthood can teach you:

1. Don’t Be Afraid to Delegate

One of the most valuable business lessons from parenthood is the art of delegation. Just as you sometimes have to trust others to take care of your child, in business, you must learn to delegate tasks to avoid burnout. Whether it's hiring a nanny to help with childcare or entrusting a team leader with a project, delegation is essential.

2. Master the Art of Planning

Parenthood teaches you to plan meticulously. From ensuring your child’s daily routine is intact to planning for unexpected events, these skills transfer seamlessly to business. Effective planning in business minimizes risks and helps achieve goals efficiently. As a parent, you quickly learn that every minute counts—this is a mindset that benefits any business leader.

3. Adapt to Changing Plans

No matter how much you plan, things can go awry when children are involved. Parenthood teaches you to be flexible and adjust your strategies on the fly—a crucial business lesson. In business, being adaptable and maintaining a positive attitude when things don’t go as planned can often lead to new opportunities.

4. Cultivate Patience

Parenthood requires immense patience, and this is a skill that is just as vital in business. Whether it's dealing with an impatient client or navigating a challenging project, staying calm and patient allows for more thoughtful decision-making. In business, patience can be the key to long-term success.

5. Juggle Multiple Tasks

Managing multiple tasks at once is a daily reality for parents. This multi-tasking ability is one of the most practical business lessons you can learn from parenthood. Balancing various responsibilities at work with a clear head, much like managing household chores while caring for a child, can significantly improve productivity.

6. Lead with Empathy

Being a parent means leading your children with empathy, and the same approach works wonders in business. By understanding your team's needs and challenges, you can guide them more effectively. A compassionate leader fosters a positive work environment, leading to better performance and business growth.

7. Learn to Say No

One of the toughest business lessons parenthood teaches is the ability to say no. Just as you must set boundaries with your child, you need to do the same in business. Saying no to unnecessary tasks or projects helps focus on what truly matters and prevents burnout.

8. Don’t Hesitate to Seek Advice

Parenthood humbles you and teaches you that seeking advice is not a sign of weakness. Whether you’re asking for parenting tips or business strategies, reaching out for help can lead to better outcomes. In business, this could mean consulting with mentors or experts to gain valuable insights.

9. Take Time to Rest

Both parenthood and entrepreneurship are 24/7 commitments, but it's vital to take breaks. One crucial business lesson is that rest is essential for maintaining high performance. Just as parents need time to recharge, business leaders must take breaks to avoid burnout and stay productive.

10. Do What You Love

Finally, parenthood reminds you of the joy that comes from doing what you love. Children engage in activities they truly enjoy, and this can be a powerful business lesson. If your business doesn't bring you joy, it might be time to reconsider your path. Passion is a key driver of success, and loving what you do can lead to greater fulfillment and achievement.

Incorporating these business lessons from parenthood can help you grow both personally and professionally. Whether you're managing a team or running your own company, these insights can provide a fresh perspective and help you navigate the challenges of the business world with confidence and grace.

What Taxes and Insurance Contributions Should an Individual Entrepreneur (IE) Pay?

Redaksi    Monday, August 26, 2024    Comment   

What Taxes and Insurance Contributions Should an Individual Entrepreneur (IE) Pay?

What Taxes and Insurance Contributions Should an Individual Entrepreneur (IE) Pay?

Individual Entrepreneurs (IE) in Russia have to navigate a range of taxes and insurance contributions depending on the chosen taxation system. Below is a breakdown of the key obligations.

General Taxation System (GTS)

The General Taxation System (GTS) is the default option for individual entrepreneurs who do not switch to another regime. Under GTS, IEs are required to pay the following taxes:

1. Personal Income Tax (PIT): 

•    13% on profits, except for specific income types.
•    15% on income exceeding RUB 5 million.
•    Entrepreneurs can reduce taxable income by deducting business expenses. If documentation is lacking, a professional deduction of 20% applies. Taxpayers can also utilize other personal deductions, such as those for housing, education, or medical expenses. 

2. Value-Added Tax (VAT): 

 0%, 10%, or 20%, depending on the goods and services. VAT is paid quarterly, with the total amount split into three monthly payments. Entrepreneurs may qualify for VAT exemption if their turnover (excluding VAT) doesn't exceed RUB 2 million over the past three months.

Simplified Taxation System (STS)

Entrepreneurs can opt for the Simplified Taxation System (STS) by notifying the tax authorities. Eligibility requirements include having no more than 100 employees, an income not exceeding RUB 150 million, and fixed assets valued at no more than RUB 100 million. Under STS, entrepreneurs have two options:

1. 6% on all income: The rate increases to 8% if the business employs between 100-130 people, or if the income exceeds RUB 150-200 million.
2. 15% on the difference between income and expenses: The rate increases to 20% if the business exceeds the eligibility thresholds.

Note: Entrepreneurs using STS can reduce their tax liabilities by the amount of insurance contributions paid.

Patent Taxation System (PTS)

The Patent Taxation System (PTS) is available for specific business activities, such as tailoring, hairdressing, and dry cleaning. Entrepreneurs with fewer than 15 employees and an annual turnover not exceeding RUB 60 million can purchase a patent. The patent’s cost is determined by local authorities based on average income in the relevant sector.

Unified Agricultural Tax (UAT)

The Unified Agricultural Tax (UAT) is suitable for those involved in agricultural production and sales. The tax is 6% on net income (revenue minus expenses and losses). Payment is due in two stages: an advance payment by July 28 and the final payment by March 28 of the following year.

Automated Simplified Taxation System (ASTS)

This experimental system is available in select regions, including Moscow and Tatarstan. It offers simplified tax rates of 8% on income or 20% on the difference between income and expenses. IEs on ASTS are not required to pay insurance contributions for employees, except for accident insurance, and no tax returns are necessary as the tax authorities handle calculations.

Professional Income Tax (PIT for the Self-Employed)

Self-employed individuals without employees can pay a 4% tax on income from individuals and 6% on income from businesses. The annual income limit for this regime is RUB 2.4 million.

Insurance Contributions for IEs

Individual entrepreneurs, except for those on ASTS or registered as self-employed, are required to make insurance contributions. In 2024, this amounts to RUB 49,500. If income exceeds RUB 300,000, an additional 1% contribution is required. The maximum contribution is capped at RUB 277,571.

Taxes and Contributions for Employees

If an IE employs workers, they must pay:

1. Personal Income Tax (PIT): 13% of employee income, withheld from their salary.
2. Insurance Contributions: 30% on income up to RUB 1.917 million and 15.1% on amounts exceeding this threshold. Additional contributions for workplace accidents range from 0.2% to 8.5%.

Other Taxes

Entrepreneurs remain liable for personal taxes, including:

• Property Tax: Up to 2.2% depending on the region.
• Transport and Land Taxes: Rates vary locally.

Payment Process

From 2023, Russia introduced a unified tax payment system. All taxes and contributions are paid into a single account, with the tax authorities managing the distribution.

Final Thoughts

The taxation and contribution landscape for individual entrepreneurs in Russia is complex and depends on the chosen system and specific business activities. Entrepreneurs should stay informed and seek professional advice to ensure compliance and optimize their tax liabilities.

7 Reality Shows That Can Teach You About Business

Redaksi    Monday, August 26, 2024    Comment   

7 Reality Shows That Can Teach You About Business

Still from the show "On the Knives"

Reality shows aren’t just about entertainment; some can provide valuable lessons in business. Whether you're an aspiring entrepreneur or just curious about the world of business, these shows offer insights that can help you grow and improve your skills. Let’s dive into seven reality shows that can teach you about "buseniss" (business).

1. Kitchen Nightmares (Кошмары на кухне)

Duration: 8 Seasons  

Release Year: 2007  

Country: USA

In this show, the famous chef Gordon Ramsay travels across America, visiting restaurants on the brink of collapse. He spends a week observing, identifying issues, and helping the owners turn their businesses around. Ramsay’s direct and fiery approach might be intense, but his advice is invaluable. Whether you’re in the food industry or another type of business, watching how he uncovers and fixes problems can teach you a lot about what to avoid and how to improve.

2. On Knives (На ножах)

Duration: 8 Seasons  

Release Year: 2016  

Country: Russia

This Russian show is similar to "Kitchen Nightmares." Chef Konstantin Ivlev travels around, trying to save struggling restaurants. The lessons here are just as relevant, although some owners revert to their old ways after the cameras stop rolling. It’s a reminder that while expert advice is great, sticking to it is crucial for long-term success.

3. Now I’m the Boss! (Теперь я босс!)

Duration: 8 Seasons  

Release Year: 2018  

Country: Russia

In this unique show, two business owners from the same industry swap places. One is successful, while the other is just starting out. Watching them tackle each other’s challenges highlights the different aspects of small and large businesses. From cafes to cosmetics companies, this show offers insights for entrepreneurs of all kinds.

4. The Apprentice (Кандидат)

Duration: 15 Seasons  

Release Year: 2004  

Country: USA

This famous reality show, initially hosted by Donald Trump and later Arnold Schwarzenegger, pits contestants against each other as they compete for a job in one of Trump’s companies. Each week, the teams face business challenges, and the losing team has one member fired. The Apprentice offers a glimpse into how businesses operate and what it takes to be a strong leader and team player.

5. Business Makeover (Бизнес на прокачку)

Duration: 1 Season  

Release Year: 2021  

Country: Russia

This show, produced by RBC and Alfa-Bank, focuses on improving existing businesses. Over six weeks, experts help entrepreneurs streamline operations, boost sales, and expand their companies. Despite being partly a promotion for the bank’s services, the show is packed with practical advice on scaling up and dealing with business challenges.

6. Idea for a Million (Идея на миллион)

Duration: 1 Season  

Release Year: 2017  

Country: Russia

This show is essentially a startup pitch competition, with participants presenting their ideas to a panel of judges from various state institutions. Watching how startups pitch their ideas and handle tough questions is invaluable for anyone looking to attract investors. Sometimes, selling your idea is just as important as creating it.

7. Start-Up (Стартап)

Duration: 4 Seasons  

Release Year: 2013  

Country: USA

Host Gary Bredow travels across America, talking to small and medium-sized business owners. While the business environment in the U.S. may differ from other countries, the core challenges—like finding startup capital and staying motivated through setbacks—are universal. This show is perfect for those just starting or dreaming of starting their own "buseniss."

6 Practical Tips for Finding Funding and Support When Starting Your Own Business

Redaksi    Monday, August 26, 2024    Comment   

6 Practical Tips for Finding Funding and Support When Starting Your Own Business

6 Practical Tips for Finding Funding and Support When Starting Your Own Business. (Ilustrasi)

Whether you're launching a tiny coffee shop, a city service, or a tech startup, starting a business from scratch is no easy feat. From writing a business plan to handling taxes and paperwork, the journey can be overwhelming. To help you get started smoothly, here are six universal tips and youth support programs in collaboration with the national project "Small and Medium-Sized Enterprises."

1. Find a Mentor in Your Field

Behind every creative idea is a lot of hard work. Writing a business plan, registering a legal entity, and dealing with taxes can be exhausting, especially when you're just starting. To make the journey easier, seek a mentor with real experience in your field, not just someone selling success courses online.

You can find a mentor by:

• Reaching out to entrepreneurs in your industry who are actively building their personal brand. They may be open to mentoring as it benefits their own growth.
• Using mentor-finding services, often offered by private companies or universities. For example, if you're under 35, you can apply to the "Business.Mentors" project by Rosmolodezh, which connects young entrepreneurs with mentors.

When working with a mentor, you can agree on bartering services, fixed payments, or even a share in your company—though the latter should be reserved for trusted relationships.

2. Apply for Youth Grants

In Russia, young entrepreneurs can receive grants ranging from 100,000 to 500,000 rubles to start their business. In the Arctic zone, the grant amount can go up to 1 million rubles. These grants can be used for businesses like sports schools, beauty salons, cafes, or bike rental services that benefit the community.

To apply, you need to submit your business plan to a "My Business" center, which are available in all regions. These centers also offer training in business basics and provide support with tasks like creating a website, designing a brand book, and registering a trademark.

3. Seek Help from Entrepreneurial Support Funds

If you're launching a startup, consider approaching the Innovation Promotion Fund, which offers youth competition programs, including grants for students. The largest program, "Start," provides up to 24 million rubles for launching and commercializing projects in fields like digital technology, medicine, biotechnology, and energy conservation.

Socially responsible businesses also support startups. For instance, the "IN Park Vasilyevsky" social business incubator in Oryol offers office spaces, coworking areas, and consultations at reduced rates.

4. Participate in Student Programs

Student programs allow you to dive into entrepreneurship without disrupting your studies. For example, the "Startup as a Diploma" program lets students develop a business project and defend it as their graduation thesis. This program includes training, mentorship, and even funding assistance.

In 2024, the first national "Startup as a Diploma" competition received over 500 applications, with the top 13 teams receiving startup support certificates and opportunities to participate in entrepreneurial events.

5. Consider Crowdfunding

If you don't want to take out a loan, crowdfunding is a great way to fund your business. Whether you’re making concept films, creating upcycled fashion, or restoring vintage radios, crowdfunding can attract supporters. Even well-known people like animator Harry Bardin have used crowdfunding to fund their projects.

To start, choose a legal platform that suits your project's needs. Ensure that you understand the platform’s fees and any taxes you might owe on the funds raised.

6. Join Your City’s Business Club

Business clubs are a great way to immerse yourself in a community of like-minded individuals and receive advice from experienced entrepreneurs. Some clubs are industry-specific, such as those for restaurateurs or beauty salon owners.

For youth, the "Act!" network of business clubs operates nationwide and accepts members up to 25 years old. These clubs offer mentorship, practical workshops, and opportunities to participate in regional and national entrepreneurship competitions.

Starting a business can be challenging, but with the right support and resources, you can overcome the hurdles and build a successful venture.

Deputy Chief of Singkawang Police Leads the Destruction of Narcotics Evidence

Redaksi    Sunday, August 04, 2024    Comment   

Deputy Chief of Singkawang Police Leads the Destruction of Narcotics Evidence

Deputy Chief of Singkawang Police Leads the Destruction of Narcotics Evidence

SINGKAWANG - The Singkawang Police recently held an event to destroy narcotics evidence uncovered by the Narcotics Investigation Unit (Satresnarkoba) of the Singkawang Police.

The event took place on Friday, August 2, 2024, at the Singkawang Police Headquarters, located at Jalan Firdaus H.R.II No.98, Singkawang City.

Led by Deputy Chief of Singkawang Police, Commissioner Tri Prasetiyo, S.I.K., M.H., the event was attended by several key officials, including the Head of Narcotics Investigation AKP Dwi Hariyanto Putro, S.H., Acting Head of Public Relations AKP Munaji, S.H., and representatives from the Singkawang District Attorney's Office.

Also in attendance were representatives from the National Narcotics Agency (BNN) of Singkawang, the Singkawang Health and Family Planning Office, legal advisors, the Chairperson of the Singkawang Bersinar Drug Rehabilitation Institution, the Professional and Security Division of the Singkawang Police, investigators from the Narcotics Investigation Unit, and media representatives.

Destruction of Evidence

Commissioner Tri Prasetiyo explained that the narcotics evidence destroyed was related to several cases successfully uncovered by the Narcotics Investigation Unit of the Singkawang Police.

The destruction was carried out after obtaining a final legal decision from the Singkawang District Court.

The evidence destroyed consisted of eleven plastic packets containing methamphetamine with a total net weight of 71.84 grams.

Before destruction, a portion of the evidence had been set aside for trial and laboratory testing by the Pontianak Food and Drug Administration (BPOM). The testing results confirmed that the substances contained methamphetamine.

Destruction Process

The destruction process began with unsealing the evidence and taking a portion for testing using a TestKit.

The test showed a color change to crimson, indicating the presence of methamphetamine.

The evidence was then placed in a bucket containing water mixed with herbicide, stirred until dissolved, and finally disposed of in a septic tank.

This process was conducted in the presence of the invited guests to ensure the evidence was safely destroyed.

This event demonstrates the Singkawang Police's commitment to combating narcotics trafficking and protecting the community from the dangers of drug abuse.

With this destruction, it is hoped that Singkawang City can become a safer and drug-free place.

Through this decisive action, the Singkawang Police hope to deter narcotics criminals and reduce drug trafficking in the region.