Category Archives: Business

Why You Need An Employer ID Number

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If you are operating your own business, you are required to get a federal employer ID number (EIN) and may get one even if it isn’t needed. The EIN is similar to a social security number where it identifies your business as a single entity by the government, financial, tax and regulatory agencies. When you receive your EIN from the Internal Revenue Service, it can distinguish and sort out your personal and business liabilities and obligations.

As the IRS gives you the tax ID number, the EIN will distinguish the sole owner of a particular business. Different types of businesses such as sole proprietors, partnerships, corporations, government agencies, employers, non-profits and other business entities have to use EINs. For sole proprietors, they use the employer ID number to identify their business in creating important layers of privacy and legal separation between their business and personal affairs. If you use EIN rather than your social security number, you prevent access of your personal details affiliated to your social security number.

An EIN will identify your business identity even if you move or relocate to another business address. It allows business owners to take advantage of their tax, financial or regulatory benefits created over the years. So long as operating status and business ownership don’t change, the EIN will be the same for your business even if it grows or makes some changes. The EIN is solely given to the owner of the business and not the business itself. Should there be changes in ownership, the new business owner will need to secure a new employer ID number. You will also need the EIN if your business files for bankruptcy or initiates a retirement plan or profit sharing.

Even if you’re not an employer, you can still have the EIN. For partnership or corporation, the EIN is mandatory for your taxable products or services, employees, withhold taxes on income, Keogh plan, gather sales tax, or file any type of federal tax returns. This identification number is required for application of business license, social security records, tax payments, employment tax reports, and income tax forms. Many banks also require the EIN to open a business bank account.

To apply for an employer ID number, you need to fill-out the SS-4 form and submit it to the IRS for approval.

How You Can Choose A Branding Agency In Thailand

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Branding may not solely work for big companies but small and medium-sized business can also promote their brands. Thanks to the Internet, you will surely find a branding agency in Thailand that can help boost your business. Here are some useful details to help you find the best branding agency for your business:

  • Allocate a Budget

For branding purposes, you need to allocate a certain budget. Determine a value that should suit the branding process of your business. You may need to ask colleagues and associates on how much they have spent for branding their business.

You must have goals before you try to brand your business. You need to set targeted sales and the number of traffic your website will be receiving with branding. Perhaps you need to increase sales or reach the branding process so you need to write down the document.

  • Search Online for Branding Agencies

The Internet provides you the best branding agency in Thailand; however, you need to choose them thoroughly. You may need to choose the right keyword phrases so you get the best ones. Go through their websites and note them down. Also consider their star ratings so you can create an impression on how they can help you. Perhaps you may need to stalk them on social media like their Facebook page.

  • Look at their Portfolio and Ask Them for a Quote

A good branding agency in Thailand will have a number of portfolio examples. They have had many years of experience in handling the branding process of different small or big companies. Ensure they are reputable and are recommended by some people you know. Some provide happy testimonials about their services. Once pleased with their services, you may need to ask a quote including their features and packages. Tell them about your business and how they can impose the right strategy for branding.

  • Other Ways to Find Them

To find a reputable branding agency in Thailand to do your branding process will need you to look at classified ads, seminars, word of mouth, or newspapers ads. When you find one, check if they have a website. If there is none, you need to ask if they have an address near your location. This is important as they are responsible for creating your business visibility.

Benefits OfStaying In The Lifestyle Hotel In Sukhumvit

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Bangkok is a vibrant city with many tourist attractions and interesting activities. The city is also the financial hub of Thailand and is famous for its medical tourism. The city attracts all types of travellers like business travellers, solo backpackers, families on a vacation, leisure travellers, couples on honeymoon and   travellers visiting for treatment at the famous Bumrungrad hospital. The city has something to offer for each of the travellers.

There are many stay options in Bangkok that offer value for money and comfort able stay. Visitors can book their vacation in the luxurious lifestyle hotel at Sukhumvit, which is very close to the Sukhumvit and Asoke mass transit stations.

Location is the main benefit for the travellers who book their stay at this famous lifestyle hotel in Sukhumvit, situated in the heart of the city. The hotel is walking distance from the famous tourist attractions Chuvit Garden, Benjakiti and Benjasiri Park. Other attractions like Lumphini Park, EmQuartier and Siam shopping streets can be easily reached by using the metro and sky train. It is very easy to get to the mass transit stations as the hotel is in close proximity to two stations- Asoke and Sukhumvit.

The major corporate offices situated in Terminal 21 are also just a walk away, making it convenient for the business travellers to reach their destination easily. The lifestyle hotel in Sukhumvitis also situated close to many of the foreign embassies. Other business districts of the city can be reached by boarding the MRT or BTS mass transit services.

Sukhumvit road is the most well developed road running from one end of the city to another. The Asoke and Sukhumvit junction is the most sought after location for staying in Bangkok. The area is a hotspot for interesting activities. The famous Nana and Asoke nightlife can be experienced to the full extent by booking a stay in the lifestyle hotel in Sukhumvit, which is centrally located. Guests can enjoy visiting the famous street food markets nearby like the Middle Eastern Enclave and Korean Town. For the more upwardly tourists, the area also has a number of high-end restaurants serving a variety of cuisines ranging from traditional Thai delicacies to Indian, Lebanese, Middle Eastern and continental fare. The tourists and business travellers will be happy to stay in this hotel as it is conveniently located in the Sukhumvit area.

Grow Michigan Funding Extended For Another Two Years

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It is for the best interests of a business to apply for a Michigan Tax ID to identify the business. Obtaining a Tax ID is one of the key responsibilities that a business has to consider during the planning process because it will be required during the application for business license, bank checking account and financing.

In Michigan, there are many opportunities for small businesses to grow. Grow Michigan, a loan program, continues to provide funding for small businesses. This week, Grow Michigan, LLC announced a 2-year extension of the $51 million fund that it invested into 30 transactions since 2013. The board managers of Grow Michigan that includes Traverse Connect CEO Douglas Luciani and Michigan Strategic Fund gave their approval for the extension of the fund.

The extension of funding is welcome news for small businesses in Michigan. They are excited about the opportunities provided for growth and expansion. According to a press release, Grow Michigan reported that the leveraged capital investment of $353.2 million has managed to facilitate the creation of almost 3,000 employment opportunities.

The goal of Grow Michigan is to invest solely on Michigan-based businesses so that it can be used to create jobs. Grow Michigan is working with financial institutions in the state to act as a second lien lender. The loans are provided to businesses that lack liquidity and capital required for typical bank lending transactions.

According to Patrick O’Keefe, CEO of Growth Michigan, funding is capped at $5 million; however, most loans are between $1.5 million and $2.5 million with a repayment term of 5 years. Out of the 30 loans that the organization provided, more than a half has already been paid back before the 5-year term. Two companies in the Grand Traverse area were provided with $1 million loans each and both have been successfully paid.

Profitability is certainly the goal of every business but before you plan for any undertaking, it is important to obtain Michigan Tax ID because it is useful for many government and banking transactions. If the product or service offered involves taxes in any way, the Tax ID will be required during the payment of taxes.

Leeds Residents To Pay When Disposing In Recycling Facilities

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According to an announcement from the city council of Leeds, residents who are sending their household wastes to recycling centers will have to pay soon when dumping items such as earthen ware tiles and other things that are included in the list. The Leeds city council added that the charges will vary based on the items. This new rule is part of the law regarding non-regular household wastes.

For example, residents will have to pay £1.50 for a single tyre they want to dispose while recycling plasterboard that can fill a trailer will cost £81.60.

The new rule will be implemented starting the 5th if February. The household items with charges include tyres, soil, rubble and plasterboard.

The city council decided to approve the new rule last year during the discussion of the budget proposals for the years 2017 to 2018. The bosses have explained that the cash earned from the charges can be used in funding various council services.

For two consecutive years, the council has decided to charge their residents’ household waste because it was only last year when they decided to charge £20 for collecting bulky items to be dumped such as sofas and refrigerators.

For regular wastes that are not included in the list, they can be dumped at the usual sorting centers that have been awarded permit scheme by the council.

In the previous years, non-regular household items have no charges imposed by the council but other local authorities are charging already.

The sustainability and environment’s board member of the council, councilor Lucinda Yeadon, the council is annually facing a lot of pressure financially thus it is only right that they have decided to charge dumping of non-regular household waste.

No profit is going to the council but the money will be used to pay a portion of the expensive disposal cost and in turn other important services will be funded.

The list of household wastes with charges next month includes ceramics, sewer pipes, earthen ware tiles, sinks, roof tiles, gravel, paving slabs, plasterboard, tyres, and cement. The waste recycling centers in Leeds are located in Kirkstall, Yeadon, Meanwood, Otley, Wetherby, Middleton, Seacroft and Pudsey.

Thailand’s Hotel Sector Is Confident With Tourism Growth

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A convenient place for travellers to Thailand is best serviced apartment in Bangkok that is near the BTS Skytrain network. The highest level of quality and hospitality can be experienced in the serviced apartment not to mention that it is within easy reach of shopping malls, restaurants and tourist destinations.

The tourism industry of Thailand is on the right track with more than 35 million arrivals last year and the predicted 37 million visitors for 2018. The hospitality industry has to think of different strategies to take advantage of the growing number of tourists. However, the Thai Hotels Association (THA) has warned the hotel sector that major tourist destinations like Bangkok, Phuket, Pattaya and Chiang Mai are already oversupplied so that some players may not profit from the tourism boom.

According to US-based STR Global and Thai consultancy 69 Hotelworks, the high demand from tourists is boosting the confidence of Thailand’s hospitality industry. In Bangkok 100 new hotels and 21,600 rooms are in the process of development. However, Bangkok faces several challenges because the transport infrastructure must be able to cope up with the influx of tourists.

Bill Barnett, managing director of C9 Hotelworks said that Bangkok is closely becoming a megacity with the record-breaking number of tourists who want to experience the many attractions of the city. On the other hand, opportunities and threats are being created by the multi-billion baht developments on transport links, megamalls and hotel and residential projects.

THA predicts growth to be between 5 % and 7% for 2018 because of more arrivals and the strengthening economy. THA also expects a strong rebound from hotels in Phuket, Krabi and KohSamui because of Chinese developments and the return of tourists from Russia and Europe. Based on the rates on occupancy, many regions have showed a slight increase with the exception of Phuket that experienced a sharp surge.

Contrary to the assumption to some people, best serviced apartment in Bangkok is also suitable for short term stay. If you are travelling with family, serviced apartment is a better option because it is more spacious and convenient. It is also more comfortable because of the home ambiance.