Author: Athena Stylli

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Amazon FBA In Cyprus
Things To Consider During Accounting For Amazon FBA In Cyprus

Over the years, the shopping habits of consumers have rapidly evolved. They are now looking for new ways of enhancing their shopping experience with the help of technology. The pandemic has further added fuel to this changing trend, and millions of people now regularly visit e-commerce platforms. Amazon has become a household name because of the convenience it offers in online shopping. However, it has not only attracted consumers but also sellers from all over the world. After all, Amazon has more than 200 million customers that visit the platform every month. 

You may be aware that Amazon has recently redomiciled its EU headquarters to Cyprus. The small island country close to Europe, Asia, and Africa has gradually become a hub for e-commerce companies. Thanks to the fewer regulatory interventions, excellent infrastructure, and tax benefits, several companies have already made this smart move. Hence, if you have products that you want to sell by joining the Amazon FBA (Fulfillment By Amazon) program, you must remember a couple of things during accounting for Amazon FBA in Cyprus. Have a look. 

Update Your Charts of Accounts

You may already know that it is essential to update all the accounts you will use in your financial reporting. For example, some of the standard categories of charts of accounts are assets, liabilities, equity, revenue, and expenses. If you don’t update it, you may end up relying on inaccurate data and make poor financial decisions as an Amazon FBA seller. 

Go for Accrual Accounting

While it is true that most small business owners start with cash-based accounting, opting for accrual accounting is the best thing that you can do to grow your business with the Amazon FBA program. Instead of consistent demand, there may be sudden sales spikes or inventory fluctuations in your e-commerce business. So, this type of accounting proves beneficial to avoid unpleasant surprises. It will also help you to get a clear picture of your actual financial position. 

Run a Reconciliation Report

When you run a reconciliation report, you can spot inconsistencies (if any) between the bank and your credit card statements. It also helps in protecting your business from possible frauds. It will also give you actionable transaction insights that you can leverage to make informed decisions leading to higher sales achievement. 

Moreover, do not forget to put your efforts to generate additional revenue streams as complete dependence on a single sales channel may not be enough to thrive your business during unforeseen circumstances. Now, doing all these things may take a significant amount of time that you can otherwise use in growing your business. So, it is wise to hire a professional from Online Solutions to do the entire legwork of accounting for Amazon in Cyprus.

At Online Solutions, we offer comprehensive eCommerce solutions, including real-time inventory management to order tracking and accounting to social media marketing. We make it easy for you from every aspect and help you to reach your consumers quickly. Only you need to send your products, and our professionals will take care of the rest.

by Athena Stylli
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5 Essential Steps To Open A Free Shopify Store Now In Cyprus
5 Essential Steps To Opening A Free Shopify Store Now In Cyprus

Are you thinking about venturing into an e-commerce business? Are you an entrepreneur with a brick and mortar store in Cyprus? If any of these answers are in affirmation, it is time to open an online store with one of the leading e-commerce platforms! Shopify is currently powering more than 500,000 online stores across the world with its useful features. Moreover, it is easier to open a Shopify store than one using Magento or WooCommerce.

The popular e-commerce platform also has a unique partner program that enables Shopify store solution providers to set up a free eshop Cyprus within no time. However, remember that the free eshop means a Shopify store with a free trial for 14 days so that you can fully discover its potential for your business. There is even no need to enter any credit card details!

Let’s discuss the 5 easy steps to open a free Shopify store now.  

Step 1:

Go to the official website of Shopify, enter your email address, and click on the start free trial button. You will be directed to a page to enter your password and online store name. Enter a store name and a strong password and click on create your store button.

Step 2:

Enter the details in the form, such as where you are an existent seller, your current revenue, and all. You can skip the page to move to the next in which you need to enter your personal details such as first name, last name, address, city, postal code, and contact number so that you can get your payment. Once you have filled this form, you will be then directed to a dashboard.

Step 3:

Add your products, customize the theme, accept payments and set the shipping rates. You can always explore the free themes to make your Shopify store as you have envisioned. Remember, this will take longer as you need to fill several forms.

Step 4:

Now, you can add pages in your online store that you get under the online store on the left side of your store dashboard. For the same, you need to click on the add page button.

Step 5:

On the left, you will also find settings and can see plenty of things that you can do to set a fully-functional and responsive Shopify Store.

It is easy to open a free eshop in Cyprus, but it consumes much of your valuable time. As an entrepreneur, you may want to give your full attention to grow your business. So, the best course of action is to hire a developer at Online Solutions. With us, you can get your dream Shopify store quickly at an affordable cost.

We also provide valuable services, including translation of your store into local languages, the configuration of delivery, and general settings. Moreover, our digital marketing experts can connect your store with various marketing tools and promote your online store without any delay!

by Athena Stylli
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Home Insurance Cyprus
The benefits of home insurance in Cyprus

The benefits of home insurance in Cyprus

Firstly, let’s dive headfirst into what home insurance is.

  • Is the financial security against your property/home that safeguards your interest in case of damage and losses that are inflicted on it.
  • In Cyprus especially, should not be considered a luxury, but a necessity that every home-owner should have.

So, why do you need home insurance in Cyprus? Let’s look at the benefits:

1.Protection Towards Home Restructure

In cases where your home is damaged due to incidents such as fire, earthquake, flood, or any similar natural disaster, then you will be compensated when wanting to repair or rebuild your home from the damages that have been caused.

This will be a huge financial relief for you and your family, as you won’t have to dig into your savings to afford the renovation of your home.

2. Living Cost Coverage

Continuing from point 1, in the case that your home is damaged due to a natural disaster or a manmade one, your insurance cover will reimburse you for the rent, hotel room, restaurant meals, and other incidental costs you incur while waiting for your home to be renovated or rebuilt.

Another financial relief as you won’t have to worry about where you will have to stay whilst you are making your home habitable again.

Home insurance cyprus

3. Protection Towards Personal Belongings

Another advantage that comes with home insurance cover, is the protection of your personal belongings against theft or natural disasters.

You’re covered by insurance to replace those items.

4. Protection against Third Party Liability

In the case that your neighbour or any other third party guest gets hurt or experiences loss/damage on their property because of you, your home insurance policy has got you covered for them.

So, who should have and invest in insurance? Well, anyone and everyone who owns a home in Cyprus!

For home insurance, contact SoEasy Insurance, and if you want to promote your business online, contact us. 

by Athena Stylli
694 Views0
Business Insurance Cyprus
5 Reasons why your company needs Business Insurance in Cyprus

Are you a small, medium or large business in Cyprus?

No matter the size, your business needs insurance for a variety of reasons.

Here are the 5 reasons why you need business insurance in Cyprus:

1. Provides insurance coverage against natural disasters

In the event that your business in Cyprus is affected by a natural disaster such as fire, earthquake, hurricane and so on, your insurance coverage will compensate you not only for the coverage of the damages cause to the building/property/equipment, but it will also compensate you for the money you couldn’t make while you were out of business.

2. Uncertain future / Peace of Mind

The future, as we know, is full of uncertainties. You never know what may happen in the future that could make it difficult for you to accomplish your business goals.
So, to ensure the safety and security of your business, you should opt for business insurance.

business insurance cyprus

3. To stay compliant

If you are own a company in Cyprus which legally has to have insurance to protect your employees, then you should do so in order to be compliant with the law.

If you opt out of having insurance, then you could find yourself in trouble.

4. Protection of your Employees

As an employee, one of your biggest capital is human resource, and you are responsible for your employees whilst they are in the workplace.

In case case an employee might be injured, the liability falls upon you, and therefore insurance will cover these costs.

5. Expanding your business

Business needs grow hand in hand with the business, and having a strong business insurance portfolio can help the owners and directors in Cyprus make important decisions.

No matter the business you have in Cyprus, it is important to commit to the best insurance for your company.

However, before committing to business insurance, make sure that you have read up on which insurance is best for your company.

If you need assistance on which business insurance to take out in Cyprus, contact SoEasy Insurance to go over your wants and needs, and we can help you pick the right one.

For online insurance, contact SoEasy Insurance, and if you want to promote your business online, contact us. 

by Athena Stylli
628 Views0
Influencer Marketing In Cyprus

Firstly, what is Influencer marketing? Simply put, influencers are people with a a large number of followers on social media, endorsing products. They give their (honest) opinion about a product that they have used, in an attempt to ‘influence’ you to buy it. If you are not influenced to buy it, you are at least influenced to follow the brand. Already, by this, the brand has obtained a potential new customer. And in Cyprus, influencer marketing is KEY! 

According to netjury.net, 90% of marketers have planned an increase in their influencer marketing budgets, and 49% of customers have said that they rely on influencers’ advice. 

As a marketing agency in Cyprus, we have realised and understood the importance of influencer marketing for our clients.  

This is why, as an agency, we offer special packages for our clients  

Why would you use influencers in your marketing strategy in Cyprus? 

  1. Drive brand awareness and get real results  
  2. Cypriots believe the honest reviews of their peers 
  3. Access to a specific target audience  
  4. Measure the effectiveness of a campaign 
  5. Personal relationship between you and the brand, via the influencer  
  6. Gain access to User-Generated Content (UGC)  

People trust people. And sometimes, it’s hard to see or relate to a person behind a brand. By using influencers to endorse your brand, finally they can relate to a person.  

 

by Athena Stylli
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Why Email Marketing is the Best Digital Tool in Cyprus

Email marketing was one of the first forms of lead acquisition digitally. In Cyprus, email marketing is primarily used to send a promotional message to a selected audience of recipients. It is also used for informational messages, like when something new is coming, or when there is a new offer.  

So, why is email marketing a good digital tool? It is a good tool to reach your audience, create an impact, and ensure that their opinion of your brand is understood. And, one of the best things about it, is that is Is free. Of course, if you pay, you do get better benefits, just like with anything.  However, if you don’t have a budget, you can still reach your audience through emails without paying.  

According to Content Manager Institute, 87% of companies use emails to bring information to their clients. It is the third most used online channel, after social media & websites.  

Many brands create email marketing strategies, to have a complete plan for emails. There isn’t one industry that should not partake in email marketing. It is considered a must now.  

As a marketing agency in Cyprus, this is a service that we offer.  

A list of email marketing services that we offer at Online Solutions to our clients are: 

  • Newsletter design 
  • Newsletter copywriting 
  • Email strategy 
  • Mass mailing campaigns  
  • Transactional emails 
  • Informative emails 
  • Campaign statistics report 
     

Finally, email marketing allows you to analyze the behavior of your subscribers: the analytics you can retrieve from your email marketing is very useful to your marketing strategy.  

For a good email marketing plan, get in touch with us.  

by Athena Stylli
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