6 Essential Things You Need When Opening A Traditional Store

Are you planning to open a traditional store soon? Opening a traditional store can be a daunting task. There are many things you will need even before you think of selling. Some of these items depend on the type of store you want to open and the products you want to sell. For example, a clothing store will need racks and hangers, while a grocery store will need shelves and coolers. Here are six essential things that you need when opening a traditional store.

A Weighing Scale

A weighing scale is among the essential things you need for your store. This will allow you to weigh the products you are selling. It is also essential for pricing purposes. There are different types of scales available in the market, and it is essential to choose one that best suits your needs. For instance, a simple grocery store will need a different type of scale than a wholesale store.

Some factors to consider when choosing a weighing scale include size, capacity, and accuracy. Size and capacity are essential because you must ensure that the scale can accommodate the products you will be selling. Accuracy is also essential because it will determine how accurate your prices are. Some regions require certification for certain types of scales.

A Cash Register or POS System

Another important thing you need for your store is a cash register or point of sale (POS) system. This will help you keep track of your sales and inventory. A POS system can be very helpful in managing your business. It can also provide insights into your sales and customers. There are many different types of POS systems available in the market, and choosing one that best suits your needs is essential.

When choosing a cash register or POS system, it is essential to consider the type of business you have. The system should be able to handle the number of products you sell and the type of transactions you make. Ensure that the system is easy to use and has all the necessary features.

Packing Bags

Packing bags are also essential for any store. These are used to pack the products that customers purchase. Some clients will not buy from your store if you do not have packing bags. There are different types of packing bags available in the market. The most common ones are made from paper, plastic, or cloth.

When choosing packing bags, consider the type of products you will be selling. For instance, fragile items will require stronger bags. You should also consider the size and shape of the bag. Some stores also use branded packing bags to promote their business.

Labels and Price Tags

Labels and price tags are also essential for any store. These help customers identify the products they want to buy. They also help you keep track of your inventory. There are different types of labels and price tags available in the market. The most common ones are made from paper or plastic.

Consider the type of products you will be selling when choosing the tags. For instance, some products require barcodes while others do not. You should also consider the size and shape of the label. Some stores also use branded labels and price tags to promote their business.

Signage

Signage is also essential for any store. This helps customers find your store, and it also helps to brand your business. Without signage, customers may not even know you exist or will go to your competitors, especially if they are in a high foot traffic area.

In terms of branding, your signage should be consistent with the look and feel of your store. This includes the font, colours, and overall style. Signs can be very expensive, so it’s essential to plan and budget for them accordingly. If possible, work with professionals to create the perfect signage for your store.

Display Cases

Your clients will want to see what you have to offer, and that is why having display cases is essential. Displays vary depending on the type of products you sell. For instance, a jewellery store will have different displays than a clothing store.

The most important thing to consider when choosing display cases is the type of products you will be selling. You should also consider the size and shape of the case. The materials also matter since some are more durable than others. For instance, wood is more durable than glass, but glass is classic and elegant.

Opening a traditional store can be daunting, but it will be much easier if you have the essentials. These include having a business plan, the right location, scales, a cash register or POS system, packing bags, labels and price tags, signage, and display cases. With these things in place, you will be well on your way to success. Ensure that you find the right items for your store and budget accordingly. With a bit of planning, you can open the store of your dreams.

Business Insights from Experts Around the Globe

In this weeks expert insights, Advisory Excellence is focussing on the “new normal”. Businesses have spent much of the past eighteen months scrambling to adapt to extraordinary circumstances. While the fight against the pandemic is not yet won, there is light at the end of the tunnel.

The new normal is going to be different. It will not mean going back to the conditions that prevailed. The great acceleration in the use of technology, digitisation, and new forms of working is going to be sustained.

Effective networking can provide us all with an abundance of opportunities all enabled through building meaningful relationships with others, from opportunities for personal and professional growth to commercial success.

Many executives reported that they moved 25 to 30 times faster than they thought possible on things like building supply-chain redundancies, improving data security, and increasing the use of advanced technologies in operations.

How all that feeds into long-term productivity will not be known until the data for several more quarters are evaluated. But it’s worth noting that United States productivity in the third quarter of 2020 rose 4.6 percent, following a 10.6 percent increase in the second quarter, which is the largest six-month improvement since 1965.

Now, by leveraging the power of our networks through digital technology, we can further discover, build, support and manage the relationships which create these opportunities more flexibly and at greater scale.

Productivity is only one number, albeit an important one; the startling figure for the United States in the second quarter was based in large part on the biggest declines in output and hours seen since 1947. That isn’t an enviable precedent.

More positively, it has taken a decade or longer for game-changing technologies to evolve from cool new things to productivity drivers. The pandemic has sped up that transition in areas such as artificial intelligence and digitisation by several years, and even faster in Asia.

Companies are three times more likely than they were before the crisis to conduct at least 90 percent of their customer interactions digitally. In short, taking your networking activity online can help create more of these opportunities.

United States to Ban Goods Made in Xinjiang China

Under a new law the United States will ban imports of all goods made in whole or in part from any good from the Xinjiang Uyghur Autonomous Region in China, effective June 21, 2022. Companies need to use the next 180 days to ensure their supply chains do not include such goods.

President Biden signed into law Dec. 23 the Uyghur Forced Labour Prevention Act, which effectively deems all goods mined, produced, or manufactured in the XUAR to be produced by forced labour in China. Even those not importing directly from China may have goods detained if the materials used to produce the imported goods in a second country are tied at any level to XUAR or specific entities or commodities associated with forced labour in China.

Under this law, imports of goods from the XUAR will be banned unless United States Customs and Border Protection determines that:

  1. the importer of record has fully complied with relevant guidance to be provided by CBP, as well as any regulations issued to implement that guidance;
  2. the importer has completely and substantively responded to all inquiries for information submitted by CBP to ascertain whether the goods were made wholly or in part with forced labour; and
  3. by clear and convincing evidence, the goods were not made wholly or in part by forced labour.

Any good from the XUAR that thus overcomes the rebuttable presumption of being made with forced labour will be included in a public list to be issued by CBP 30 days after making such determination.

Further, an interagency Forced Labour Enforcement Task Force will have to develop a strategy to prevent the importation of forced labour goods from China along with the following lists:

  1. entities in the XUAR that produce goods with forced labour
  2. entities working with the government of the XUAR to recruit, transport, transfer, harbour, or receive forced labour or Uyghurs, Kazakhs, Kyrgyz, or members of other persecuted groups out of the XUAR
  3. products made wholly or in part by such entities
  4. entities that exported products made with forced labour from China to the United States
  5. facilities and entities, including the Xinjiang Production and Construction Corps, that source material from the XUAR or persons working with the government of the XUAR or the XPCC for purposes of poverty alleviation program or pairing-assistance program or any other government labour scheme that uses forced labour

The Task Force must seek public input no later than Jan. 24, 2022, and the public will be given no less than 45 days to submit comments. A public hearing must be held within 45 days after the close of the public comment period.

The State Department must then submit a report to Congress by March 23, 2022, that provides a strategy to address forced labour in the XUAR along with lists of (1) entities in China or affiliates that use or benefit from forced labour in the XUAR and (2) foreign persons that acted as agents of such entities or affiliates to import goods into the United States The final strategy to be developed by the Task Force must be in place by June 21, 2022.

Importantly, the UFLPA calls for the Task Force to provide guidance to importers with respect to the following:

  1. due diligence, effective supply chain tracing, and supply chain management measures to ensure they do not import any goods made with forced labour from mainland China and especially from the XUAR
  2. the type, nature, and extent of evidence that demonstrates that goods originating in mainland China were not made wholly or in part in the XUAR
  3. the type, nature, and extent of evidence that demonstrates that goods originating mainland China, including goods detained or seized pursuant to Section 307, were not made wholly or in part with forced labour

Sandler, Travis & Rosenberg, P.A., has developed a program to help companies review their supply chain visibility. The STR program first provides a stocktaking of procedures, policies, and programs in place to evaluate the level of due diligence and reasonable care. Next is testing and tracking to review a shipment to determine if the procedures in place can timely provide the necessary documents to CBP to rebut a claim of forced labour. Finally, CBP will assist in responding to any CBP-issued detentions.

For more information on ST&R’s import compliance reviews and how they can benefit your company, please contact Charles L. Crowley at (914) 433-6178 [email protected].

Customs Attorney Charles Crowley

Customs Attorney Charles Crowley

The COVID-19 Pandemic in Greece

Greece, among most of the countries in the world, was hit by the coronavirus pandemic. The Greek Government gradually took necessary measures and, ultimately, forced the country to a general “lockdown” on 23 of March.

This led most of the businesses to temporarily suspend their operations and activities, while, at the same time, they were allowed to suspend the employment contracts without being required to pay salaries or damages and cover social insurance obligations.

As a general measure, the country undertook the obligation to pay 800 Euros per employee whose contract was suspended.

Despite being absolutely necessary for the confrontation of the pandemic outbreak, the measures had dramatic consequences for the businesses and the Greek economy in general. In regards with the businesses, the most negative impact was the drastic fall of their turnovers and consequently their inability to perform their debt obligations, even for financially healthy companies.

For this reason, the Greek Government has proceeded to the announcement of new measures, of financial nature this time, with a purpose to keep Greek businesses, to the extent possible, intact from the impact of the “lockdown” or at least to restrict the negative consequences.

Measures announced to be taken from May 2020

The Greek Government announced on 28th of April the undertaking of financial measures in order to relieve the Greek businesses and employees that were hit by Covid-19 outbreak and support the recommencement of the economy.

The most important measures in relation to businesses are:

  • Financial aid to the Greek SMEs through loans granted by the Greek State that will be repaid in the next years with minimum interest rate based on each company’s performance. The total value of the aid will be 1 billion Euros, while each company will not receive more than 500.000 Euros. The main criteria require, first, the companies’ turnover to decrease due to Covid-19 outbreak and, second, the companies not to proceed to lay-offs.
  • Financial aid to the Greek SMEs through grant regarding business loans interest payments for a 3-month period, provided that these companies were still performing on their debt obligations in relation to these loans and they have not proceeded to lay-offs.
  • Starting from May 2020, the Greek companies will be able to receive business loans by the Greek banks up to the amount that correspond to the 25% of their turnover with Greek State guarantees.
  • Suspension of VAT and assessed tax debt payments to the Greek State, however if a company pays the April 2020 instalment, a 25% discount is provided. Again, one of the necessary requirements is for the applying companies to retain the employment positions.

Considering that most of these applications can be made electronically through platforms, our law firm assist our clients in the electronic filling and submission of these applications. It, also, uses its contacts to get additional information, if needed, by making using of the available electronic means, so that the applications are properly filled. In these harsh times, the firm provides its advisory services with the best possible manner to assist the companies – clients, especially those hit by the coronavirus pandemic.

Greece’s Economy

These liquidity measures are expected to relieve the Greek businesses which were forced to stop operating for more than one month and are now gradually being able to get back to their activities. The measures are considered to be of vital importance if taken into account that the country had just exited an 8-year financial recession implementing harsh economic re-adjustment and austerity measures. Except this, tourism constitutes the backbone of Greece’s economy and the largest contributor to its GDP and it is expected to be severely affected for 2020, as Covid-19 crisis broke out just before the summer.

According to the recently published IMF’s World Economic Outlook report, the projections for 2020 have been substantially altered, as the “lockdown” applied by the most of the Eurozone countries will have immense impact on their economic status.

In particular, Greece is expected to lose approximately 10% out of its GDP for 2020, in contrary to the 2.2% GDP increase that was projected for the same year before the coronavirus outbreak. However, the country is forecasted to return to growth in the next year, to 5.1% for 2021. Despite the deeper economic impact for 2020, Greece’s recovery is projected to be more dynamic than other economies, such as Spain’s and Italy’s.

This fact is justified by the timely actions of the Greek Government in response to the coronavirus outbreak and the periodic consequences of the tourism’s underperformance for 2020.

In the aftermath of the pandemic

The gradual lifting of the pandemic measures, starting from the 4th of May, earmarks the return to “normality” which will not be the same as known before. The epidemiologists warn that the pandemic is not over yet and the perils of another outbreak cannot be ignored.

For this, the Greek Government has set, alongside the economic relief measures, certain rules in order to restrict the possibilities for the pandemic to break out again.

These measures purport to minimise the personal contacts that could lead to the spread of the virus.

Among these rules, the most important for the companies are:

  • Flexible schedules must be followed for the next months, so that people attend their working place alternately.
  • Teleworking must be encouraged, where possible, to avoid unnecessary contacts.

Our law firm, trying to be in line with the recent legislation, has applied new methods in the working environment and in the manner, it delivers its legal services to our clients by making use the capabilities that technology offers today.

Indicatively, the firm conduct their usual internal meetings only by electronic means through live video calls, while meetings with clients and fellow advisors are made through teleconferences maintaining the level of the services in the same standards as before.

Also, the firm in order to protect its personnel applies a repeating working schedule enabling a certain number of associates/partners to attend the office each time, while in person meetings with clients are scheduled, where absolutely necessary, applying the hygiene rules.

Duane Morris Celebrates Black History Month 2020

During Nolan Atkinson’s nearly 25 years at Duane Morris, his focus on his thriving commercial litigation practice never prevented him from making sure he used that position to continue the work of people like Vashon. Nolan, a participant in the 1963 March on Washington, was instrumental in the Philadelphia Diversity Law Group, Inc., a consortium of law firms and corporations committed to increasing ethnic and racial diversity in Philadelphia’s larger law firms.

Nolan was a tireless contributor to the Conference of Minority Partners in Majority Corporate Law Firms, a constituent entity of the Commission on Racial and Ethnic Diversity in the Profession of the ABA and numerous other groups focused on diversity. He was the first Chief Diversity Officer at Duane Morris and served in that role for eight years.

Fittingly, when the City of Philadelphia wanted to establish the role of Chief Diversity and Inclusion Officer, Mayor Jim Kenney turned to Nolan. Since 2016, Nolan has brought his energy to knocking down the barriers that had historically kept the city’s large workforce racially and economically divided and creating a culture that attracts talented, diverse leaders to Philadelphia government.

Diversity & Inclusion:

Helmed by Joseph K. West, who succeeded Nolan in 2016 as Duane Morris’ Chief Diversity and Inclusion Officer, the firm’s diversity and inclusion program is managed with the objective of utilising the best talent worldwide in solving legal problems. The firm recruits a diverse pool of lawyers that collectively possess an awareness of cutting-edge 21st century issues—legal, social and economic—for which clients require solutions.

Joseph, in addition to being an active litigator representing domestic and global companies, is a nationally recognised subject matter authority in the field of diversity and inclusion, and leader of the firm’s unique Diversity and Inclusion Consulting Group which focuses on crafting sustainable diversity and inclusion programs and solutions for corporate entities.

Earlier in his career, Joseph successfully leveraged his role as Head of Global Outside Counsel Management at Walmart to establish and meet diversity and inclusion goals through its outside counsel spend, for which he is recognised as being at the forefront of building the business case for diversity.

Joseph also facilitated the company’s role as an initial signatory to the Inclusion Initiative with the National Association of Minority & Women Owned Law Firms. Joseph went on to spend five years as President and Chief Executive Officer of MCCA, tripling membership in the national advocacy group for corporate diversity and inclusion issues.

In 2019, Joseph was the recipient of the inaugural Lifetime Achievement Award: Diversity & Equality from Chambers and Partners.

Dentons Boekel migrates name and brand to Dentons

The partners of Dentons Boekel have decided to transition the name to Dentons, with effect from January 1, 2020. Dutch law firm Boekel combined with Dentons in 2017.

“Dentons Boekel has had a rich legacy of serving clients for more than 60 years in the Dutch market. We are delighted to have benefited from the brand and goodwill and are excited about Dentons’ next chapter in the Netherlands,” said Elliott Portnoy, Global Chief Executive Officer of Dentons.

“Connecting our new talent to colleagues and clients around the world is a key element of our global strategy,” said Joe Andrew, Global Chair of Dentons. “As the partners of Dentons Boekel have decided to transition from Dentons Boekel to Dentons, we are remarkably pleased with the success of the combination in the Netherlands, which is just one example of the uptick we are experiencing across so many of our markets around the world.”

Since joining Dentons in May 2017, the Amsterdam office has doubled in revenue growth. It has grown from 16 to 29 partners, adding new teams, and/or significantly enhancing capabilities in Banking and Finance, Corporate and M&A, Energy, Private Equity, Intellectual Property and Technology, Tax and Real Estate.

Wendela Raas, Managing Partner in Amsterdam said: “We are delighted by the way this combination has played out, which is one of the reasons we decided to transition the name to Dentons at this time. We are fully committed to Dentons’ vision to always be the law firm of the future and look forward to continuing to work with our colleagues around the world under the Dentons brand.”

“The last two years have been transformative for our Amsterdam office,” said Marien Glerum, Benelux Managing Officer at Dentons. “Not only have we attracted top talent and strengthened our service offering, but we have also gained numerous new client relationships. At the same time, our existing clients have benefitted from the unmatched global coverage of the world’s largest law firm.”

Dentons has more than 100 lawyers in the Netherlands, and employs more than 10,000 lawyers in 181 locations and 73 countries around the world.