Large Competitors Coast Through a Period That Sees a Few Smaller Subprime Car Lenders Struggling

The secondary and subprime automotive lending industry has been a highlight of the ongoing economic recovery. Banks and investors seeking places to put their capital have produced some impressive returns by funding specialized lenders who target consumers with less than perfect credit records.

A report of a few months back, however, revealed how certain experts believe that the good times are either coming to an end or at least evolving. A closer look will reveal, however, that leading lenders like Consumer Portfolio Services are well positioned to actually grow even more quickly far into the future.

A Slower Pace of Investment Holds Smaller Lenders Back

The story in question highlighted how a number of smaller lenders have been forced to scale back their operations in recent times. In fact, a couple of formerly successful seeming businesses ended up folding entirely after selling off their loan portfolios.

At a first glance, that might be taken to mean that conditions within the industry were softening to the point that even larger competitors would soon start feeling the pressure. In reality, demand has been climbing steadily even as these small-scale failures and retrenchments have been ongoing.

What gave rise to the reported problems was simply that investors had started to turn their attention elsewhere. Competition from larger, well established lenders had reached a point such that smaller concerns were no longer able to produce the profits that they had been. With margins pared so thin, a number of minor subprime lenders found that they no longer had access to the capital they needed to make loans.

Even More Opportunity Could Become the Rule

Even if the symptoms in question were taken by some as signs of tough times to come for larger lenders, the opposite is now proving true. Facing less competition from below, lenders that have been growing steadily and generating profits for many quarters running are now positioned to perform at an even higher level.

This can be seen in recent quarterly reports and earnings statements from some of the industry’s leaders. With the forward looking statements of some of the business’s most successful executives betraying nothing but optimism, it seems likely that the good times will continue.

4 Collections Management Tips for Small Business Owners

Numerous things go into the running of a successful company. While sales and lead generation are important, there’s one component that’s frequently overlooked by business owners: accounts receivable collection. Small businesses often come up short when working with large corporations with longer payment terms. Here, readers will pick up several tips on improving accounts receivable collections.

Proactively Manage Collections and Invoicing Efforts

There are a few things business owners can do to make invoice payments simple. For instance, be sure those invoices are complete and clear so clients don’t send them back for review. Learn the nuances of clients’ payment procedures and follow the rules, especially with big invoices.

Move Quickly on Past-Due Accounts

Studies show that the longer a receivable goes uncollected, the less likely it is to be collected at all. Therefore, it’s important to contact clients about past-due payments as soon as possible. The accounting department should email or call the first day a payment is late, and if it’s not forthcoming within a reasonable time frame, more vigorous reminders may be needed.

Consider Offering a Payment Plan

Past-due clients may say they’re having their own cash flow difficulties and ask for some help. In such a case, consider offering a payment plan for the past-due amount. Be sure to put the terms in writing and have both sides sign it. Furthermore, make subsequent sales COD (cash on delivery) until the past-due payments are made up.

Talk to the Experts About Helpful Cash Management Tools

Many banks offer a variety of cash management assistance that will help small businesses improve their collection practices and more effectively manage their cash flow cycles. For instance, a wholesale lockbox is a setup where customers mail their checks to a post office box that’s monitored by the lending institution, which gathers them for immediate deposit. Another option is electronic payments submitted via ACH or Automated Clearing House, which reduces the likelihood that a client will offer the “check is in the mail” excuse.

Cash flow management is difficult, especially for small businesses. However, these tips may help. For more cash management and collections tips, visit Cane Bay Partners online.

This Company Is Making a Difference in the Lives of the Residents of St. Croix

Cane Bay Partners is a company that works much further than within the walls of their office. The company, located in beautiful St. Croix, is dedicated to helping their fellow citizens after the destruction that was caused by two hurricanes that passed through the island, wreaking havoc on the area. Cane Bay consistently works to make a difference in the lives of the people that live and work in the community.

How Is Cane Bay Making a Difference

Cane Bay has been working to help the people of St. Croix by donating over 25,000 pounds of food and aid. They know how much the people of St. Croix have gone through and they want to help make a difference in the lives of as many people as they can. The following are some of the many items they have donated since the hurricanes have occurred.

  • 18,000 bottles of water
  • 4,000 freezer packs for preserving medications
  • 800 LUCI solar lights
  • 44 generators

They started a campaign to raise one-million dollars because they truly care about the residents of the beautiful St. Croix and want to help them restore their homes and businesses. David Johnson and Kirk Chewning even agreed to match the first $200,00 that was raised so this money can go directly to the St. Croix citizens that need it most.

Cane Bay created the Community Foundation of the Virgin Islands so that every penny donated will go straight to the people of St. Croix. Because they set up the 501c3 nonprofit, those who donate to this cause will be able to deduct 100% of what they donate on their taxes.

Learn More Today

Hurricane Irma and Maria both wreaked havoc on the St. Croix islands, causing great destruction. Many people lost all that they owned in these horrible hurricanes and have been greatly helped by the donations from Cane Bay.

Those who would like to learn more about Cane Bay’s initiative can visit the website today to learn more or donate. They will be happy to answer any questions you might have about the foundation and the money that is being raised to help the people of St. Croix.

Three Ways David Johnson of Cane Bay Helps Financial Services Companies Improve

Cane Bay Partners is a leading consulting firm focused on serving clients in the financial services industry. Thanks to the efforts and skills of partners like David Johnson Cane Bay is consistently able to weigh in on a wide variety of important, business-relevant issues.

Consulting Services and Advice That Make a Real Difference

Financial services companies of all kinds face many challenges today, whether in the form of consistently fierce competition or issues like regulatory compliance on international scales. In many cases, bringing in an experienced consultant ends up being one of the best ways to resolve problems that would otherwise be difficult to grapple with. In his work with Cane Bay Partners, Johnson leverages skills in the following areas and others to support and assist the firm’s clients.

  • Marketing. There are more financial services products than ever before, and that does not always make things easy for companies providing them. Breaking into a new market will often take a lot of hard work and a strategy that was properly informed to begin with. Consultants who have plenty of experience with marketing in financial services contexts will often be able to identify new and interesting opportunities for their clients. That can be the difference between seeing a new financial product languish and having it meet with enthusiastic acceptance in the marketplace.
  • Risk management. Every financial services company has to manage risks effectively and consistently. Risks are so inherent in the business that many regard it as one of the industry’s most basic realities. Once again, consultants who are experienced with risk management can often help financial services companies arrive at greatly improved arrangements of their own.
  • Information technology. The financial services industry is, in some respects, a fairly slow-moving place but, in others, is one of the most exciting and rapidly developing of all. Many banks, for instance, still rely heavily on computer systems that were put in place decades ago while also making use of the latest and greatest technology in other ways. Consultants who can help financial services firms strike the right balance are always in demand.

Setting Businesses Up for Success

Consulting that focuses on areas and activities like these frequently pays off for financial services companies. There are also many more ways consultants can help such businesses improve their results.

Top Reasons Why People Love Living On St. Croix

Many people fantasize about living on an island and spending their days in sight of the beach, but not many people actually make that dream a reality. Moving to an island may seem impractical or difficult, but people who have moved to the U.S. Virgin Islands find life to be very rewarding. The following are some of the top reasons people love living on St. Croix in the USVI.

The Environment

People who have been to St. Croix claim that it is one of the jewels of the earth. The pure colors of blue sky, green hills, white sand, and turquoise water are balm to the eyes, and residents make great efforts to keep the environment clean, healthy, and safe. In fact, St. Croix beaches are widely acknowledged to be among the most beautiful beaches on the planet.

The Climate

Another reason people love the Caribbean, in general, and St. Croix, in particular, is the year-round sunny climate. It is never too cold on St. Croix, with the temperature averaging 85 degrees year round. Cool breezes at night provide just the right contrast to a warm day under the sun.

Scuba Diving And Snorkeling

Surrounded by coral reefs rich in exotic marine life, St. Croix is an ideal place for scuba and snorkeling enthusiasts. When scuba divers move to the island, they no longer have to save up for expensive vacations. They can go underwater and swim with sea turtles and rays as often as they like.

Community Life

One of the benefits of living on St. Croix is the opportunity to participate in a close-knit community. The strength of the St. Croix community has been evident since the two hurricanes of late 2017. Cane Bay Cares, a non-profit founded by local business owner Kirk Chewning and his partner, is just one example of locals working together to help each other recover from the storm damage.

Local Culture

Another aspect of community life on St. Croix is the local cultural traditions, like Quelbe music, downtown festivals, the local art scene, local theater, and world-renowned cuisine. St. Croix residents say they never get bored, as there is always something interesting going on.

Combining a Business Trip With a Vacation on the Island of St. Croix

A business owner who wants to work with a management consultant company and go on vacation at the same time might consider an agency like Cane Bay Partners, headquartered on the island of St. Croix in the Caribbean. The island is only 28 miles long and seven miles wide. Vacationing anywhere on this island puts the person within a short distance of Cane Bay, situated on the north side of St. Croix. Rental cars are available so visitors can travel anywhere on the island.

A Combination Trip

Of course, the most convenient choice would be to stay in or near Cane Bay to avoid having to do extra driving. Rentals further inland often cost less, so choosing one just a few miles to the south can save some money if that is a consideration. The client can come alone or with a friend or family. Another option would be to make the trip a combination romantic vacation and business trip.

Combining a business trip with a vacation isn’t always the easiest thing to do, especially when other people are coming along. However, this type of vacation trip can still be very enjoyable for everyone. Each additional person must be clear that the business owner will be away much of the time concentrating on meeting with the consultant.

Types of Rentals and Pricing

A variety of vacation homes can be rented here, allowing travelers more privacy than they might have in a resort setting. Condos, villas, cottages, apartments, and houses can be viewed online, with rentals arranged on the corresponding websites. Prices vary considerably. It’s possible to rent a place for under $100 a night if it’s not close to the ocean. Along Cane Bay, prices generally run from about $200 to $600 per night.

Some vacation rentals are not directly on the shore but still provide a view of the ocean. It’s then only a short walk to the beach. A broad range of fun and interesting activities can be participated in here, with snorkeling being a popular pastime. The Cane Bay shore is close to deep water, allowing people to view colorful marine life.

Consultant Kirk Chewning Details a Better Way to Manage Personal Finances

As a co-founder of consulting firm Cane Bay Partners, Kirk Chewning uses his skills, knowledge, and experience to solve problems for some of the world’s largest financial services companies. Having so much professional background in finance also makes Chewning especially well qualified to weigh in on matters of far more personal kinds. On his WordPress blog, he detailed a well-grounded way anyone can take their own finances to the next level.

A Simple Financial Strategy That Consistently Produces Results

Many people struggle with how to manage their finances, and some difficulty is probably to be expected from time to time. Almost any household where financial issues keep cropping up, though, is likely a place where some simple adjustments could make a real difference.

Chewning listed a number of these in a detailed post on his personal blog. While that report delves far more deeply into the issues, some of the general points emphasize the importance of issues like:

  • Self-control. Many financial problems that households face can ultimately be traced back to a lack of discipline. Self-indulgent or simply unplanned spending has a way of upsetting even the most carefully formulated plans. Learning how to develop more self-control when it comes to spending money can end up being one of the most powerful financial tools of all. Having enough self-control in place will make it much easier to keep up with budgeting and saving over time.
  • Understanding. Oftentimes, individuals and households who regularly grapple with financial stress have only the fuzziest of ideas as to the causes. Taking a detailed inventory of regular and occasional spending will inevitably produce plenty of useful insights. Even something as simple as an ongoing log of spending can later be analyzed to highlight areas that could use improvement.
  • Education. While it is not necessary to become a financial whiz to balance a household budget, learning never hurts. Understanding more about how best to use financial tools like loans and investments will inevitably pay off in the future.

Valuable Advice From an Expert

With the blog entry in question containing many more specific, detailed tips, it should be clear that there are plenty of ways of better managing personal finances. Just about anyone who sometimes struggles with finances will do well to read Chewning’s post.

A Post by Kirk Chewning Details Why He Chose to Incorporate in the Virgin Islands

Cane Bay Partners is one of the United States Virgin Islands’ best known and most successful consulting firms. As a co-founder of and partner in that company, Kirk Chewning wrote an in-depth post detailing why the Virgin Islands were chosen as its headquarters. A quick look at Chewning’s thinking will reveal some impressive ways by which the Virgin Islands excels in this respect.

A Popular Location for Competitive, Modern Companies

Although the United States Virgin Islands is probably best known for tourism, it is also home to quite a few of the world’s most sophisticated and successful businesses. There are plenty of good reasons to consider incorporating in the Virgin Islands, a number of which Chewning delved into in his post. In particular, corporate leaders often find the Virgin Islands a desirable place to put down roots because of issues like:

  • Innovation. Virtually all of the most successful modern companies make ongoing innovation a core part of their missions. Failing to innovate and come up with new, better ways to address challenges will inevitably mean giving up ground to competitors. Over the years, the Virgin Islands has developed a culture of innovation in business that rivals any to be found anywhere else. Having access to other professionals who understand the value and importance of innovation will always be beneficial to businesses founded by those who do the same.
  • Leadership. Building a successful, influential business from the ground up always takes a great deal of work. It also requires the leadership of people who understand how to set far-off goals and guide others to achieve them. Once again, the Virgin Islands has become widely recognized as a place where many talented, effective leaders can be found. For companies that set up presences of any kind there, that means having access to individuals who can lead entire groups to accomplish truly impressive things.

Good Reasons for Many Firms to Choose the Virgin Islands

For reasons like these and many others, the United States Virgin Islands is increasingly viewed as a place that is especially welcoming and hospitable to international businesses. Choosing to incorporate in the Virgin Islands, as Chewning and his partners did, can make everything that follows quite a bit easier.

Types of Management Consulting

The typical focal points of management and business consulting are diverse and subject to a more or less constant change. Since enterprises change, why shouldn’t the way companies are consulted change as well? Here are some things to keep in mind.

Business consulting topics to remember

The “classic” issues of the management consulting industry are:

  • Strategy consulting – Corporate, division or market strategy, growth strategies, competitive strategies and business model development, and so on
  • Organizational consulting – Organizational development, restructuring, turnaround times, and the like
  • Process consulting – Process optimization, process management, increase in efficiency, etc.
  • Leadership – Management models, corporate management, and management organization
  • All types of functional business consulting along the value chain – Marketing & sales, production, purchasing, supply chain, logistics, and finance

Consulting services in the field of information technology, HR consulting, tax consulting, engineering or even PR agency services, communication, and advertising are not among the classic topics of management and business consulting. However, the consulting market has recently changed significantly in response to the evolving needs of the consulting customers. Not only has the share of “classic” strategic advice declined sharply, but the growth of the consulting market has stalled as a result of the economic crisis. Because of this, management consultancies had to look for new growth areas.

Changes are going to occur

The effects of this change in the consulting industry are now more evident than ever: large management and strategy consultancies, accounting firms, and the “system integrators” are in the process of expanding their consulting services organically or, in many cases, acquiring smaller, specialized consulting firms. Auditors invest massively in the expansion of their consulting business in the field of management consulting, which strengthens their implementation and IT consulting expertise.

At the same time, however, this has led to the blurring of boundaries between traditional management or business consulting and other consulting services. Strategy and management consultancy without combination with IT consulting is hardly conceivable anymore. Strategy consulting is merged in the course of the digitization of the business world of the customers with creative agency services in the area of marketing and design. Conceptional management consulting without implementation competence is hardly in demand by customers. Call up David Johnson Cane Bay to learn more.

David Johnson Is Helping Businesses Grow Like Never Before

Those who know David Johnson Cane Bay know how dedicated he is to his clients at Cane Bay Partners. He works tirelessly to provide them with the management consulting services they need, so they can protect their company’s best interests and see greater profits than ever before.

Understanding David Johnson’s Success

Any successful business professional understands the importance of a good education so they can start out on the right foundation. David Johnson earned his BBA in Management and MIS from the University of West Georgia and his career began to blossom from there. After his graduation from college, he held many business positions, finally becoming a partner at Cane Bay Partners.

David Johnson has seen such great success because he strives to work as hard as possible for real results. He never gives up and keeps working diligently to help his clients succeed. Those who are truly successful in life share their success with others and that is something David Johnson truly thrives on.

Helping the Community

In addition to being a partner at two companies, David works to help those in the communities he serves. When St. Croix was hit by two major hurricanes in a short amount of time, Cane Bay Partners rose to the challenge and immediately started putting their assets to work by making donations that have truly helped the people of this beautiful island.

The goal of Cane Bay Partners is to raise one million dollars to help in relief efforts that go directly to the people of St. Croix. David Johnson and Kirk Chewning plan on matching donations up to $200,000 to help the citizens of their beloved St. Croix. Through the donations of Cane Bay Partners and others, the citizens of St. Croix are beginning massive recovery efforts to rebuild their community.

If you would like to discover more about David Johnson and the initiatives of Cane Bay Partners, make sure to check out their website today. Here, you can learn more about their efforts and even donate to the cause so you can help. Call the office today with any questions you might have.