Georgetown Heritage Business Developments In Penang

A new kind of energy fills Georgetown City of Penang Island these days. The elegant 19th century shop lots are buzzing with life and activities. New business trends related to heritage living style have sprung up everywhere around the city area.

There has been renewed business interest in the areas since the listing of Georgetown as a UNESCO world heritage site two and a half years ago. Both small time entrepreneurs and more established investors are putting cash in conservation projects. Old heritage houses and shop lots have been transformed into chic eateries, boutique hotels, and charming home stays.

A classic cafe example is ‘Kopi Cine’, which is located at Stewart Lane. This delightful cafe serves Penang style coffee as well as Italian cappuccino. ‘Amelie Cafe’ in Armenian Street is another heritage cafe investment, which serves local delights prepared from fresh market ingredients. The new generation of investors are not merely pumping funds into prime real estates, but have shown deep respect for heritage and culture.

The buffer zone area has also been livening up with the establishment of ‘Hotel Penaga’. This hotel is located in the surrounding areas of Hutton Lane, Transfer Road and Clarke Street, which is a pre-war terrace of fifteen shop units. It has been beautifully restored into a boutique hotel and maintains the character of the heritage zone, while meeting the highest modern expectations for visitors, who particularly wish to experience the heritage style of living accommodation.

Investing in the heritage city of Georgetown may seem like a good idea, but it is not a simple task. The dilapidated condition of many of Georgetown’s old shop houses call for restoration and renovation. Such costs are often double the cost of the initial purchase price of the dilapidated property. But luckily these factors have not discouraged investors, comprising local Penang citizens, Malaysians from other states, as well as foreigners, from investing in heritage estate developments.

Georgetown’s heritage listing has also proved to be a huge investment opportunity and a big boost to Penang’s economy. Penang is now globally recognized as a selected destination for tourist to visit. This has also upgraded the Penang’s status as a healthcare or medical care destination. More visitors from neighbouring countries are now coming to seek medical treatment in Penang. Medical tourism enabled many people to get the benefit of high quality medical treatment with more competitive cost in medical expenses, while going on a beautiful and tranquil vacation.

The cost of getting the treatment done elsewhere aboard has confirmed to be comparatively more expensive, whereas the same medical treatment cost in Penang can be much lower, by as much as 50% of the cost abroad. Patients can get the best possible treatment available in Penang. Penang medical professionals are highly efficient and well versed in English.

Penang may be small but is full of life, and have been voted as one of the top most livable place in the world.

Why Is Dedicated Server Crucial for Business Development?

Dedicated servers are something that most businesses need but they are rarely thought about. Even if a business has one most people that are involved won’t realize that they have one because it just isn’t something that is noticed. Dedicated servers will have many options and features that can help a business to grow and thrive.

For one these servers will allow you to have much more of a command over your server and will give you more bandwidth (this is very important to avoid crashes), and IP addresses. Not to mention that it will allow for more programming opportunities.

Bandwidth is very important when dealing with internet websites because the more bandwidth that you have the fast your page will load and if your page loads faster than you can expect people to come back. Nobody wants to have to wait on a page to load. This can also help in that your website is less likely to ever go down if you have high bandwidth. If you have more IP addresses then this can help a great deal as well. IP addresses are used to measure the activity on a site, and the more that you have the better and more accurately you can measure the activity to know how well your site is doing.

The option to have more programming options is a great one. By doing this then you can actually have more options to personalize you site. This can be adding different languages or make contact forms. It would be so much easier if you could create a form where someone could submit feedback and it would go straight to an e-mail account. The number of things that can be achieved by getting a dedicated server can make a list that goes on and on. Anyone that has their own web based business should really look into getting one.

If you still aren’t convinced then do some more research, take whatever your business is and do research on how a dedicated server can specifically help your business.

The Role of Corporate Social Responsibility in Modern Business Development

There are many factors within general business practices that are altering to ensure that every person benefits from the continued functioning of the company. Previously many businesses have subscribed to practices that may have had negative effects on their stakeholders. This is now changing as the realisation sets in of the true importance of the different stakeholders in any particular business. There are many different manners in which a company can implement corporate social responsibility measures for the benefit of all concerned. The manner in which each different company implements the changes will be dependent on what aspects of the company could be considered as having produced negative effects.

Corporate Social responsibility can often be confused with corporate charity, but it is a very different thing. Corporate charity can involve the donation of money and the provision of opportunities to members of the community and stakeholders. This is very different to the considerations that a company must abide by to ensure that their actions fall with the acceptable corporate social responsibility guidelines that have been established. These can include guidelines that relate to the environmental impact that a particular action can have or they can relate to the impact that an action can have on the local community. The guidelines are intended to ensure that any negative effects that an action could possibly have are eliminated or reduced as far as possible.

The concept of corporate social responsibility is intended to provide each business with a far greater ability to create sustainable development. This can help to provide ongoing benefits for the business and its stakeholders, regardless of the size of the business. The business can become more competitive once it begins to create and follow guidelines to enforce the concept of corporate social responsibility within the company and its surrounding community. The greater the sustainability of a business’s developments, the more successful it can become. The attraction of corporate social responsibility for many businesses is that it can help to increase sustainability without creating negative effects.

The type of business that implements changes to come in line with accepted corporate social responsibility guidelines will also determine what sort of changes will need to be made. The size of the investment that will be required to ensure that the business conforms to acceptable guidelines will also be affected by the type of business it is. The resources that are expended for this purpose do need to be viewed as an investment rather than an unnecessary expense since the positive results can more than repay the investment.

The term corporate social responsibility may seem to be one of the current buzz words in business, but the concept is one that has been formulated by many people over many years. The concept is one that is seen as being important for the continued well-being of the vast majority of companies and essential for the community that surrounds them. The importance that is placed on business actions conforming to acceptable corporate social responsibility standards can ensure that these guidelines are treated with the respect that they merit.

Six Challenges Facing Business Owners

Having spent the last few weeks meeting with and chatting to small business owners around Essex, it became clear that they all seem to face similar challenges on a day-to-day basis.

As I expected, they are all time poor and there was an ongoing sense from these company owners or directors that they should be ‘hands on’ and across every facet of their business. But, as they told me, they may know all about their business but sometimes they need expert support and guidance to ensure their company grows and increases profitability.

Some of the challenges they faced included:

Customers
Customers are at the heart of any business. Without customers and the revenue generated then the business becomes just a good idea. One of the main challenges they faced was how to attract, retain and maximise their customers?

For me, the key to winning new business and ensuring customer retention is providing not only great products or services but adding a great customer service experience. A strategy needs to be developed for ensuring this customer growth and maximizing revenues from existing customers.

Marketing
Many business owners are not marketing experts and need strategic advice when it comes to developing a business positioning, a marketing plan, a campaign and thinking about the channels they wish to promote their business through.

The challenge is to enable the business to tell its story in a way that enables the business to grow and build customer engagement. Bringing an experienced marketer into the business either in-house or as a consultant to help develop this strategy can allow the business owner to focus on what he does best.

Time
For many business owners there are simply not enough hours in a day. All owners are stretched for time. Creating more time means sometimes saying no and focussing on what is essential for the success of the business.

This is where business owner often seek external advice from a business mentor or consultant to get them to focus on what is critical for the development of the business.

Financial Management
It is imperative for a small or medium-sized business to manage their cashflow effectively but sometimes managing the P&L seemed to be the third or fourth ‘order of the day’ for some business owners.

Getting good financial advice from a consultant who takes the time to analyse business performance, looks at aged debtors, analyses client profitability and puts effective financial planning measures in place mitigates the risk of the business getting into financial troubles.

Profitability
Business Planning seemed to be a bit of an afterthought for some of the business owners I spoke with, they were working more ‘on the fly’. Annual Planning should start a minimum of four months before the end of the financial year and should start with a formal annual budget, understanding the profitability of each client/customer, growth opportunities, business development planning and an analysis of the overheads required to service those clients/customers, market and grow the business, generate a great customer experience as well as delivering a sustainable profit margin.

Successful business owners create wealth and grow their business because they understand how to build a culture where sustainable profitability is a given.

Processes
Many business owners are not across all the processes involved in running a business so the challenge is to make the processes involved in running a business simpler. This is where an external consultant or expert support can prove highly beneficial.

Failure to manage processes such as sales, marketing, business development, building customer loyalty, operational management, HR and employee development can lead to businesses failing. Being stretched across business functions is not the best way for business owners to develop their business.