Businessman Seyfeddin Rustamov is main beneficial owner of chemical company ‘Metafrax’

Published on: 06 December 2017 Last Updated on: 22 February 2020

The Russian newspaper ‘Kommersant’ recently announced that the 55-year-old businessman Seyfedding Rustamov is the main beneficial owner of Metafrax, one of the largest chemical companies in Russia and Europe. Rustamov, born in Azerbaijan, is now a resident of the US, together with his wife and three children. Since the year 2000, he has been actively involved in the chemical industry. He is the manager of the Russian company MetaHolding, which holds this year 94% of Metafrax’ assets. This makes Rustamov the main shareholder of Metafrax.

Metafrax is with multiple companies in both Russia and Europe the largest producer of methanol, formaldehyde and synthetic resins in Russia and Europe. The headquarters of the company are in Gubahka, Perm Region Russia. Seyfeddin Rustamov already became the beneficiary of the chemical plant at the headquarters in Gubahka in 2014. This was made public during a presentation on a large-scale project at Metafrax, which has an estimated cost of around 800 million euros.

This large-scale project is the development of an ammonia, urea and melamine plant construction. Right now, the company is still in discussion with banks about the financing of this project. Metafrax has an annual revenue of over 660 million USD (5 billion rubles). Every year, the company receives around 80 million USD from investments. The products of the chemical company are shipped to as much as 50 countries worldwide.

The company used to keep its beneficiaries secret from the public. The main shareholders would be represented by the chairman of the board of directors, Armen Garslyan. The company has now presented information on its main beneficial owner to the public, because of changes in legislation. Changing requirements of Russian and international compliance laws now made it necessary for the company to reveal this information. A domain with the name of Seyfeddin Rustamov was registered on ‘Go Daddy’, one of the biggest registrar of domain names, on the 18th of September, 2017.

Before MetaHolding became the biggest shareholder of Metafrax, the Cypriot company ‘Lipanet Ltd’ was the main major shareholder of the company. Other shareholders were ‘JSC Sibur’ and the Panama-registered ‘Mirvac’. Armen Garslyan told the Kommersant that Seyfeddin Rustamov, as the main beneficial owner of Metafrax, is involved in the global decision-making process of the company. He called Rustamov a ‘vigorous leader, who knows what we are doing, what our targets are and who accompanies us on our way towards them’.

Rustamov is besides chemistry, also taking part in philanthropic activities. He and his family support a number of non-profit foundations in the areas of health preservation, cancer control, and transplantology. The foundations Mr. Rustamov and his wife are involved in including the St. Baldrick’s Foundation, the Inova Health System Foundation and the Susan G Komen Breast Cancer Foundation. Besides charities that have to do with health, they also contribute to charity sports events, the National Museum of Women in the Arts and the John F. Kennedy Center for the Performing Arts in Washington.

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7 Startup Ideas for Young Entrepreneurs

Everyone wishes to start their own business. But they may face many difficulties like not having enough capital to invest, lack of research ideas, and so on. Some points should be taken into consideration while starting up a business; For starting up a business one needs to invest their time and money. Entrepreneurs with excellent research skills develop great marketing strategies. At the same time, if an entrepreneur has a unique business idea, Private Limited Company Registration can be useful to gain more benefits from the Government. While starting up a business one should know the demand of the consumer and act upon it. Every startup requires a proper business plan with a vision, mission statement, and a set objective. Next, an important point which an entrepreneur must take into consideration is whether his business must conduct online or offline; if offline then will it be an office-based or home-based business. It is all dependent on the product or services which has offered. No one can reach a successful path without crossing the hurdles. And there are still many young entrepreneurs who struggle to build a successful business. So, for those young entrepreneurs, here is this article that will help you out in deciding the best startup ideas: 1. Online Freelancing Idea Online freelancing includes content writing and data entry. For content writing, entrepreneurs need excellent communication skills. Firms hire people for content writing. This business is purely online based. Many companies need people to write content for them. The organization outsources these services. Entrepreneurs need to be good in their language and thinking power. Those skills can help them to start their online freelancing services. Here the entrepreneurs need no investment. Their income entirely depends on the organization's goodwill and the number of services provided by them. 2. YouTube Channel After Google, Youtube is the second largest search engine. Youtube is a platform for innovative and creative individuals. Many people create exciting videos and post them on youtube and make millions of money. Also, YouTube helps to get fame. This business idea is like a low investment and high returns. The advantage for the user is - YouTube is an independent platform where a user can create his channel and upload their video for free. There is no restriction about the video topic. YouTube also pays money for famous YouTubers. 3. Hand-Made Creative Jewelry Idea Nowadays, youngsters both male and female are doing this business. You need the skills to make this jewelry art. The primary material for making this jewelry is available both online and offline store at a cheaper cost. The demand for customized and handmade designs is very high among youngsters. This creative jewelry can sell through an online platform where there is more scope of sale and can also sell offline to friends, families, and relatives. Price of the product is dependent on the design of the jewelry. 4. Event management Those entrepreneurs who want to start up their business as Event organizers can start with small events like a birthday party or companies meetings. In this type of business, the event organizer requires workforce and other related services on a temporary basis. Event management coupled with creative and innovative thinking is a bonus. Contacts of suppliers and vendors act as the most significant support system. Here the goodwill matters a lot. The event organizer gets orders only through his past event management. These are relatively expensive business ideas the return of income is highly good. 5. Food Delivery Service Idea Food Delivery Service Idea is a growing and popular business idea where the profit is very high compared to any other services. In this busy world working professionals hardly get time to cook food. The customer tends to get attracted to those types of business services where it makes their routine work quick and simple. This business Idea is highly in demand. In this type of business, the investment is quite high at the same time, the return of income is moderate. One also needs human resources to deliver the cooked food to the consumer. You can start small by personally delivering orders within your local area and using a routing app to get routes ideal for multiple stops. 6. Bakery business Bakery businesses need high skills. Even an entrepreneur can start a bakery business by appointing an expert. Though a brand plays a vital role in people's minds in bakery business customers, usually prefer homemade bakery cookies, pastries, and cakes. In this business idea, investment depends on the size of the business. Nowadays, online bakery selling is also booming. You need a few contacts and marketing strategies to showcase yourself as unique from others. Social media helps in advertising your product. 7. Coaching class This is a services-based business where the return of income is very high. This business is a home-based business idea. Where entrepreneurs need to be expert in the subject which he or she is going to teach students. School teachers or college professors can also start this business for extra income. And the person who is illiterate can even start this business by appointing professionals to teach the students. Here the investment is a little higher. Conclusion Afleo has come with the best startup business ideas for young entrepreneurs. Any plan to succeed takes time. The same applies to startups. Hope this article helped you out to choose your business idea. Cheerful Reading! Read Also : Six Low-Investment Business Ideas You Can Start Today Make Your Business Popular Online

Things to Consider When Sourcing Employees for Manufacturing Plants

When setting up manufacturing plants, you must carefully consider hiring the right people. This is skill-intensive work requiring highly qualified individuals. There are many machines involved, and any slight mistake could lead to disaster. Every task, from arm robotic polishing to welding or picking and placing, needs to be handled by trained experts. There’s no room for error. So, how do you hire workers at this level? What qualities should you look for when gauging their qualifications? Here are some ways to get it right. Skills and Qualification Levels Where heavy machinery is concerned, you must exercise caution during hiring. The team handling these tasks must demonstrate top-tier skills and qualifications. This will help you match them to the right roles. Hiring the wrong person for a job is a key reason for past workplace accidents. The best approach is to give candidates practical tests. Don’t rely solely on paper qualifications. The hiring process should be thorough—there’s a lot at stake. The Positions Available Before hiring, you need a clear image of your needs. What positions urgently require filling? How many workers do you need? Should you increase staff, or would a smaller team be more efficient? Hiring should be based on necessity, not a whim, as onboarding and training are costly. Before advertising any position, ensure there’s a genuine need for that role to be filled. Salary Demands You might set a salary range in the job listing. But understand that securing top talent might require flexibility. Skilled workers often demand higher wages and might negotiate upward. If their skills match your needs, be prepared to adjust your salary cap. Quality employees are rare. When one comes your way, don’t miss out. Labor Laws Labor laws exist to protect employees from exploitation. You must be well-versed in relevant laws to avoid legal issues. Employers often face trouble due to ignorance of basic labor laws. Disputes of this nature can be costly and might even bring down your company. Many businesses have collapsed after large payouts from lawsuits. Safety Precautions Safety in manufacturing plants involves responsibilities on both sides. Employers must provide protective gear like helmets and gloves. Install emergency safety buttons for quick machine shutdowns in accidents. Employees must know how to operate machinery responsibly. If someone gets injured on duty, you’ll be responsible for compensation, which can be expensive. Interpersonal Skills Manufacturing plants typically have hundreds of workers sharing space. Good interpersonal skills are crucial because teamwork is essential. Clear communication is the backbone of efficiency. Every hire should be able to understand instructions and communicate effectively with co-workers. First Time Manufacturing Plants Owner? Setting up a manufacturing plant is a huge endeavor, particularly if you’re starting your own business. How well (or not) you hire will make or break the success of your venture. But here’s the problem: Most advice out there assumes that you’re already an established business with an HR department. No one talks about how hiring must be approached differently as a start-up founder without specific HR knowledge in relation to hiring line workers for a manufacturing plant. Challenges are Common When everything’s new, and you don’t yet know the specific needs of this segment, it can be difficult to know which roles are needed to get started and begin building. You don’t just need “bodies”. You need skilled people who have experience working with machines, safety precautions, and as a team member simultaneously! But where do you find these people? It often seems like normal small company hiring advice doesn’t apply; you’re not sure how to tweak it appropriately for your industry. Start by focusing on industry-specific tips and tools for entrepreneurs entering this unique segment of entrepreneurship Don't Compromise on Skill Set As a new business owner, you’re probably working with a tight budget. However, this doesn’t mean you should necessarily compromise on your skill set. You can get a better feel for someone’s capabilities through practical tests during an interview than from a resume. Many first-time business owners make the mistake of hiring based on what they read – and end up with someone who is entirely lacking in the kind of real-world experience they require. Incorporating examples like this and talking about how to use real-world testing to your advantage can help you save your new clients from themselves Know your Laws Another challenge is knowing labor laws. Big companies have departments for that! But when you’re a new business owner, you’re usually the president, HR director… and janitor, too. It’s easy to overlook labor laws. Not doing it right can also be fatal to your business. We need to pay more attention to simple things and resources to make sure we do them right. Manage Safety Safety is another area where new business owners struggle. They think buying insurance covers it all! But in manufacturing there’s so much more that needs addressed on a regular basis; training, gear, protocol. You must understand safety isn’t something you have to worry about paying fines for. On the contrary, being proactive about safety increases productivity and decreases turnover as well. Focus on Soft Skills Finally, don’t forget about the “soft” skills. We see new manufacturers hire for the hard skills and forget that these folks will have to work together. If we can help new owners know how to look for communication skills coupled with technical ability, that alone would be incredibly impactful. The Final Note! Hiring a manufacturing plant is one of the most complex tasks an employer can face. The success of your business heavily depends on hiring the right people. Plan carefully to increase your chances of finding qualified workers. Read Also: Possible Reasons Why Your Employees Aren’t Too Productive and What to Do About It What Are the Ways to Prepare a New Employee? 7 Best Employee Recognition Awards Ideas For 2021

Launching a Business? Hire These 5 Professional Services for Help

Starting a business can be expensive. You want to be mindful of where every cent is going. While a frugal approach to business expenditure is encouraged, there are some services you need to invest in to take your business to the next level. Failure to get Professional Services help with cash flow and computer systems management may result in unwanted issues in your business. Let’s go over some of the recommended professional services to spend on: 1. Lawyers Your business will have to comply with several federal and local government regulations that you may be unaware existed. An accomplished attorney will expose any legal loopholes that you might run into as you launch your startup. Since it is their field, they will be abreast of any changes that may affect these laws and advise you on how to conform. Being compliant from the get-go can save you substantial litigation costs down the road. It will also lessen the possibility of being shut down for non-compliance. Many business owners think that they would be able to do without a lawyer if there are no on-the-horizon legal issues. However, if you need a general counsel attorney you will be able to enjoy many of the legal services that can help you grow the business. For example, a trained legal counsel can show you ways and means of minimizing risks, ensuring coverage, and making sure all your paperwork is always in order. 2. Accountants While their work may seem lackluster, accountants are the beating heart of any profit-seeking venture. Trained in using standardized tools and techniques, they help businesses keep track of their cash inflows and outflows, assets, and liabilities. The reports they produce periodically will give you a clear indication of whether your business is currently on the right side of the profit-loss divide and whether its future is healthy. When you hire an accountant for a startup business, you also improve your chances of staying on the Internal Revenue Service's good side. The last thing any fledgling venture needs is to be liable for hefty fines when revenue streams are yet to stabilize. Savvy Certified Public Accountants will help you discover and take advantage of all the tax breaks for which you qualify. 3. Web Developers Operating any modern business without an online presence is equivalent to conducting your business in a cocoon. Close to 60 percent of the global population uses the Internet actively. First impressions are everything. To make the right one, you need to have a reputable web developer team on your side. Your web developer will be responsible for designing and hosting your site. They will ensure that it has all the functionalities you require and offer support when you suffer downtime or external attacks. 4. Content Creators and Marketers Having a functional website is only half the equation. Content creators and marketers will provide you with a means of reaching out to your clientele, both through your website and your social media handles. They will come up with creative on-brand messages that they will broadcast through these channels to capture the hearts and minds of your target audience. Having digital marketers as part of your team will not only help you reach your potential customers where they are. It will save plenty of cash you would have spent on advertising through traditional media. Digital content creators have a finger on the pulse of current trends and will have the know-how to make your products or services a part of what is trending. 5. IT Experts IT experts are needed to manage your business' devices and hardware, along with the front and back-office software systems. Your tech consultants will help you put these systems in place as well as keep them running smoothly. If you have an online presence or any functions that rely on the Internet, you need to invest in these systems’ security. Contrary to what many small business owners think, they do occasionally get targeted by hackers. With a proactive team of IT experts well versed with the latest cybersecurity threats on your side, you won't have to spend sleepless nights wondering if your site will be next. Two Heads Are Better Than One It is tempting for small business owners to try to be a jack of all trades. You would rather juggle your own books, fix your own networks, and manage your own social media to avoid spending too much on outsourced expertise. While conducting some of these services yourself can save money and grant more control over your operations, you can achieve better results by hiring help. Besides exposing your business to diverse financial and operational risks, you will become an impediment to its growth if you adopt the one-man-army approach. Read Also: 5 Tips For Transport & Logistics Business Owners Before Investing In Insurance Startup Business Management: How to Effectively Incorporate Use of SEO Top 5 Types of Startup Business Loans Best Server Management Tips for Startups

Businessman Seyfeddin Rustamov is main beneficial owner of chemical company ‘Metafrax’

Top 5 Types of Startup Business Loans

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Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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7 Startup Ideas for Young Entrepreneurs

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Businessman Seyfeddin Rustamov is main beneficial owner of chemical company ‘Metafrax’

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Top 5 Types of Startup Business Loans

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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