In 1970 the sociologist, Alvin Toffler, published a very insightful book, “Future Shock.” Mr. Toffler predicted that changes occur in science and technology, popular culture, industry, business, and all other facets of human life. He stated that this is what has happened throughout human history. The problem that Mr. Toffler foresaw is that change is happening faster and faster.
Forty years after Mr. Toffler’s book individuals are still trying to learn how to deal with the every increasing rate of change in our lives. Business and investment practices will need to become more and more streamlined. Companies and individuals will need to use and transfer capital more and more effectively in coping with the ever increasing rate of change in the 21st Century. An integral part of coping with change in business will be the effective use of offshore banking, corporations, and other business solutions.
Where Governments are Going and Which Direction Business Needs to Go
As the world comes out of the worst recession since the Great Depression many nations have taken on unheard of amount of debt in order to maintain economic stability and promote employment. Governments are searching for more and more ways to finance the financial bailouts of the last years. This inevitably means going into the pocketbooks of individuals and companies. Taxes, fees, and restrictions loom on the horizon at a time when businesses are typing to cope with Mr. Toffler’s future shock, the ever increasing change and competitiveness in the world.
Businesses need new, more effective equipment. As an obvious example, imagine doing business in today’s fast paced world with a mechanical adding machine and a dial telephone that connects through a switchboard staffed by dozens of operators. Imagine the constriction of business if modern capital flow were restricted by elimination of the computer, satellite communications, and the like. Imagine the world without modern medicines and life saving technologies.
Now imagine the world to come where competition brings effective products on line ever faster, where workers need to constantly retrain, and where fast transfer of capital will help the wise business person outperform his and her competitors.
The days of just dealing with the home town bank are gone. Individuals and companies dealing with international producers and buyers and international investment opportunities ready access to capital. In the new world the ability to raise more capital in an increasingly effective manner may make the difference between success and absolute failure of a business venture.
Privacy is an Increasingly Rare Commodity
Your company is developing a new product. No one but your top researchers know what you are doing. However, your research project is expensive. The fact that you are transferring large amount of capital becomes known to your competitors. Once they start to look they find out what you are up to and you lose a year or two of lead time on product development. Putting your money where it is private may be a major issue in the 21st Century. Privacy is becoming an increasingly rare commodity. Setting up an offshore company and setting up an offshore bank account for that company is perfectly legal. It is often quite smart too. No one needs to know what you are doing with your hard earned money except you.
Setting up banking and other business operations away from prying eyes can help protect your privacy and your competitive advantage in business. Using the most effective means of transferring capital will likely be an integral part of 21st Century success.
Coping with Change and Creating Change
In his book Toffler talks about how there was a time when a carpenter used the same tools his entire life. In fact, some of his tools may have been his father’s. In today’s world the tools of the factory, the construction site, the doctor’s office, and the business office change constantly. The passive response is to train and retrain employees when necessary. The proactive approach is to create new business solutions and tools, use them and profit by teaching them to the world. This approach goes hand in hand with keeping your in house R&D private, your banking private, and your long term plans your own. Being a step ahead will be the best of all business solutions for the 21st century.
Where You Buy Things, Where You Have Things Made, and Where You Pay from
A huge amount of work is outsourced to Asia. India has built a huge computer software industry based upon doing back office work for the West. China habitually under prices the rest of the world with cheap labor and increasingly effective management. Successful business solutions for the 21st century will need to track where effective technology resides and where products can be most effectively, inexpensively, and safely made.
To take advantage of a world full of opportunity the business person and investor needs to thing globally, perhaps live globally, and certainly bank globally.
Saving Money in the Process
There are tax advantaged locations for off shore banking and there are tax expensive locations for banking. Perhaps you come from such a nation. It is perfectly legal in many jurisdictions to bank offshore, collect interest on your deposits, and not pay taxes until the end of the year. Many businesses with high cash flow can add additional profit from overnight deposits and the like. In an ever more competitive world every pfennig, centavo, and pence will count.
Mr. Toffler talked about people getting ulcers from trying to keep up as the world works at an ever fast pace. Getting a few things to work for you will help you avoid ulcers while competing effectively in this world of future shock. Beside looking a the VOIP phone system for placing phone calls throughout the world consider looking for an effective offshore banking solution in a tax advantaged and private location.