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Friday 31st December 2010
Hands Free Crutches
Following our piece yesterday about ‘trendy’ walking sticks, and the need for updated products for the older generation, I got an email from reader Jerry Jones.
Jerry describes himself as a grey bearded fatso with a passion for activities that are likely to get you hurt. Last year, he broke his ankle, and hated the inconvenience of conventional crutches. He looked for an alternative, and came across iWalk, a hands free crutch from Canada. In true Victor Kiam style, he was so impressed that he bought the company…well not quite, but he did become sole UK distributor, and set up business from home. The website is www.peglegs.co.uk.
This is a classic case of seeing a business opportunity in a problem. Instead of complaining about the products available, Jerry sought out an alternative and then decided to bring it to market.
So what’s bugging you at the moment? Is there a better product out there which needs bringing to market? It’s got to be worth thinking about.
Free On January 1st
Imagine if on January 1st each year, a list of products was issued. These products were very expensive the day before, but were now completely free. Well that’s exactly what happens.
On the 1st January a whole host of literary works enter the public domain as their copyright expires. Entrepreneurs and publishers are then free to turn them into saleable products, perhaps in their original form, or more likely in new and exciting formats. And there’s no royalty to pay. Authors with work coming out of copyright this years include Sigmund Freud and William Butler Yeats.
In the United States the situation is less clear cut due to Supreme Court action, taken out by interested parties, determined to continue to profit from the works they hold copyright on, but there are tremendous opportunities for us Europeans..
If you’re interested in publishing but short of products, this could be a good place to start looking. Let us know if you want further information.
Euro Warning
If you're looking for 2011's big story, many experts would suggest you look at the outlook for the euro which is bleak. John Redwood, chairman of Evercore Pan-Asset Capital Management, is one who is advising investors to stay away from Europe. Here's what he says.
“The truth is the EU has not worked out how to finance countries that have falling output and rising budget deficits. They have not thought through a recovery policy that can generate the growth they need. They have not decided how to make all banks super solvent so there are no more fears about them. Until they do these three things convincingly, Euroland will be subject to further market shocks. We advise investors to stay away from the area in the meanwhile.”
Mr Redwood comments further on Ireland, “With more spending cuts to come, high interest rates on the new borrowing, and a currency which Ireland can neither print nor devalue, some people worry that Ireland will not achieve the growth it needs to pay the interest and in due course to start paying off the debts.” Greece and Spain are also of concern for 2011.
Time To Offset?
Offset mortgages look set to hit the headlines this year with some new deals launching in January. But are they for you? An offset mortgage is one where all of your money, including monthly income and expenditure, goes into and out of one account; with any residual balance being used to offset your mortgage. These can enable you to pay off your mortgage earlier.
One Streetwise member gives us an example of their offset mortgage with a 2.99 per cent rate. To match that, and mindful of tax being levied on the savings account interest, you would need to be earning 3.8 per cent in a savings account as lower-rate taxpayer; 5.1 per cent as a higher-rate taxpayer. As with all mortgages, you need to take an overall view, looking at all charges and terms and conditions and not just the headline rate.
Overseas Property Hotspot
British Airways is launching new flights to Morocco, not only good news for improving your access to a Moroccan holiday or second home, but also boosting the property market, making it more attractive to many.
In March, new flights will be added as BA has singled out Marrakech as its top destination for 2011, good news for anyone who wants to buy here. BA believes the city has vast potential for growth as a major tourist hotspot.
10 million tourists have visited the country in 2010, a massive 14 per cent growth on 2009, as Morocco raises its profile as a top destination, not only for holidaymakers, but property buyers too. We will have an article in the next Streetwise Report for you.
Happy New Year
All that's left for us to say is we hope you have a happy and prosperous new year. May this new year bring many opportunities your way. Our next bulletin will be on the 4th January 2011.
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Quote Of The Day
"A journey of a thousand miles begins with a single step."
Lao Tzu
Alternative Quote
Of The Day
"When your chewing on life's gristle
Don't grumble, give a whistle
And this'll help things turn out for the best...
And...always look on the bright side of life...
Always look on the bright side of life."
Monty Python's
Life Of Brian
If you have a favourite quote why not share it with us.
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