Originally posted on Facebook - Financial Planning Tip April 23, 2016 - 001 Becoming Self sustaining in these times

If I were running a business, in this age where I can provide services to foreign customers I would:

Open a foreign currency account according to the currency in which I am being paid,

According to the service which is being provided and perhaps

According to the geographical location of the client.

In marketing and auditing this is known as dis-aggregating the population, with the population being the funds which I hold in the account, representing the clients!!!! 

This would provide an easy way to track my customers and provide follow up service!!! 

Imagine if I were exporting a good instead of a service, then I may not be able to charge VAT!!!

Of course I may not want the headache of getting items to the airport, too cumbersome!!!