Ohio Is 11th Among The Best States To Start A Small Business

Even if the business is a corner coffee shop, it is required to obtain an Ohio tax ID that will be used when paying business taxes, state income tax and sales tax for items that will be sold. The tax ID will be required when acquiring business license, when opening a bank account for the business and during the application for financing.

Small businesses are considered as the backbone of communities because they stimulate the economy and provide employment for individuals. However, success of a business is not purely based on chance because it requires years of diligent saving, responsible spending and business-friendly initiatives. The economic outlook of Ohio is relatively healthy and expected to get better because small businesses continue to expand and make a strong impact on communities.

In 2017, Chief Executive Magazine reported that Ohio is the 11th best state to in the United States for business. This accomplishment is very significant because 2 years ago, Ohio was listed as 22nd. According to the Secretary of State, this was a remarkable feat for Ohio particularly since 2017 was also a record-breaking year for new business filings.

Since 2011, the House Republicans have made the effort to solve the $8 billion budget deficit. Predictable tax structure and policies that will help reduce the employment rate have been encouraged. A lot of efforts were invested towards the creation of more than 48,000 jobs in the private sector. Aside from the aforementioned achievements, the House was also able to pass legislation to improve economic environment so that out-of-state companies can efficiently start a new business.

To encourage businesses, filing fees that are associated with new small businesses were reduced by 21% from $125 to $99. Income tax deductions on the first $250,000 of business income allowed businesses to keep more of their hard earned money that they can reinvest in the business to create new jobs.

In most cases, it is useful to apply for Ohio tax ID while planning for the business to facilitate the application for licenses, business checking accounts and financing. Aside from the state level tax ID, a business is also required to obtain EIN as business identification for taxation purposes.

By Nikki Sanderson Posted in Business

Singapore Develop Becomes Part Of Bt579M Project In Phuket

Those looking to enjoy Similan Island Diving via Phuket should be expecting a new marina in the city, as Singapore’s SUTL Enterprise Limited, known as the owner of the ONE°15 Marina at Sentosa Cove, has recently just bought a majority stake amounting to 60% of a local Thai company that is set to build a new marina at Ao Makham’s Deep Sea Port, in Southeast Phuket.

The new project will be  a 171-marina, built alongside a complimentary 66-room hotel, to be built on the 24-rai plot across it. According to SUTL’s announcement made on the 22nd of February, the company had entered a deal; a conditional sale, plus a purchase agreement for 60% stake holdings for the Bangkok-based Makham Bay Marina Co. Ltd. (MBM), for a total transaction cost of S$5.6M(Bt133.5M).

The announcement also says that MBM already the construction permits, as well as the development rights, for the proposed marina construction at Makham Bay, Phuket, Thailand. SUTL says that, thanks to the deal made, it holds ownership of the land and water area in leasehold for 3 decades. The terms of the deal states that SUTL will be a major contributor to the marina project, participating throughout its construction, from the design to the development, and its operation, including maintenance.

The project is expected to cost approximately S$24.3M(Bt579,296,120.80), and will bear the ONE°15 brand, as confirmed in the statement detailing the deal.

The marina club will function as a new lifestyle resort in the area, complete with yacht chartering, a spa and wellness for R&R, plus hotel facilities for members and the general public alike. The 171-berth marina will be designed to handle yachts up to 200 feet in size, with complimentary 25-hard-stand spaces. Other facilities include boat brokers’ offices, dive operators for those interested in Similan Island Diving, retail stores, and other nautical lifestyle outlets.

SUTL says that the new project, upon completion, will be the first integrated marina club located in the southern reaches of Phuket, located alongside the island’s luxury resorts. The company says that this new project follows their vision of promoting the marina and yachting industry.


Say Goodbye To Bed Sores With Innovative Bed sheet

We might have to say good bye to bed sores in the near future because of the product developed by a local startup. Their bed sheet comes with sensors as well as a tiny computer. This coming summer, the sheets are going to under trial at health care facilities located in Toronto and Waterloo Region. You might be used to buy bedsheet in Bangkok because of the design but this new innovation is something else entirely.

A number of sensors will be equipped inside the sheet and everyone is 1.5 millimeters small. The sensors’ responsibility is to track the pressure on each part of the person’s body. It can also check the humidity and the temperature.

The technology used on the bed sheets is referred to as Ceylon Systems. The startup company is Kitchener and they are the ones who made the prototype. According to the co-CEO and founder, Zied Etleb, Curiato Inc. is processing the permit from Health Canada which is required before they can start the trial.

It was 2015 when Curiato was established by students from University of Waterloo namely Etleb, Khan and Moazam together with the chief business development officer of the company, Matthew Sefati. The three students are graduates of science degrees from the university. They originally planned to go to medical school but they established the startup first.

Etleb was taking his undergrad degree when he found out that the average cost of treating a bed sore is worth $45,000. Not to mention the pain that the patient has to go through.

Etleb said that it should not be the case because bed sores can be prevented if the pressure is distributed correctly.

With the Ceylon Systems, it can be used to cover the hospital beds’ mattresses while connected to a power supply. The sheet will be able to track in real time thus helping caregivers determine if bedsores are to appear thus prevention is possible. The best thing about it is that the data can be tracked through a mobile device.

While it is good to buy bedsheet in Bangkok, it is worth using this new innovative sheet if you have a bedridden patient at home.

By Nikki Sanderson Posted in Business

The Key Points To Check In A Warranty While Purchasing Artificial Grass

The decision to replace the lawn with artificial grass means a lot of investment for any homeowner. But like other house remodelling projects, the return of investment is long lasting. The high cost of the artificial grass is offset by its low maintenance costs and high durability. Fake lawn also helps you to save time and money. They are slip resistant and are safe for kids and pets.

The cost of installing artificial grass depends upon the size of your lawn, the variety of grass you choose for the lawn and other key factors. Though the initial cost may seem to be high when compared to the natural grass, its long durability negates the high initial expenditure. Moreover, many of the landscaping companies, who deal with artificial grass, provide easy finance schemes for the homeowners.

Warranty for the grass is very important factor to consider before you pick a dealer to install your artificial turf. The dealer should give a long-term warranty covering the important issues. There are three important issues to look for in a warranty for artificial grass:

  1. The warranty must cover the colour and freshness issues. Good quality artificial grass is UV resistant and retains its lush green colour even after continuous exposure to the elements.
  2. The warranty should cover the issue of stains. Artificial grasses from reputed manufacturers are stain resistant and can be easily cleaned with simple products in case of any spills and leaks.
  3. The quality of the fake grass depends upon the quality of materials used in producing it. The warranty should cover the materials used in production.

Choose a manufacturer who provides strong warranty covering all these key issues along with a detailed list of other issues that are covered by the warranty. Read the warranty carefully before you finalize a dealer for the artificial grass.

The decision of installing artificial grass is a tough call to make. There are many landscaping companies in the market, which provide different varieties of artificial lawns. Checking for the warranties provided by the manufacturer is very important before you finalize a dealer for your lawn. A reputed company will always be ready to help its clients with minor repairs and accidents that are not covered in the warranty.


Researchers Release Paper On Illegal Orchid Trade

A research paper talked about the large-scale commercial illegal trade of orchids across the world is a problem that is a problem for Thailand orchids wholesale, one that is plaguing the world’s flower market, but one that is not dealt with properly.

Orchids are one of the world’s largest plant families. Officially, they see a lot of protection and conservation, and orchids see a lot of use, from ornamentation, to medicine. As a result of their myriad of uses, the global orchid trade sees a lot of activity, with most of it down with legal, greenhouse-grown specimens for safety and conservation.

However, as a result of the demand for orchids, there is also illegal trade of the plants happening, which, naturally, does not go through the necessary checks the legal trade has, which has recently come under notice from the world, driving concern for the state of orchids everywhere.

The paper, which was published by a research group formed by the IUCN Species Survival Commission’s Orchid Specialist Group, specifically, the group’s Office 1 of the Global Trade Programme, was published via the Botanical Journal of the Linnean Society.

The paper emphasized that a lot could and should be done to protect orchids from illegal, environmentally harmful and unsustainable trade, with Lancaster University’s Dr. Jacob Phelps saying that orchids see a lot of uses in the world, but illegal commercial trade goes unreported, and, consequently, unnoticed. Many people, he adds, erroneously think of orchids as only ornamental, but he states a fact that any Thailand orchids wholesale shop would know; that orchids are also used for food products, cosmetics and medicine.

According to Dr. Phelps the paper gives a view into the global orchid black market, which, naturally has effects on legitimate sales across the world, as well as the environmental and conservation issues that would be associated with such.

The review was taken and studied in the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), in Geneva back in late November, and the researchers asking governments to deal with the issues plaguing the orchid plant group.

By Nikki Sanderson Posted in Business

Trends In 2018 That Accountants Have To Watch Out For

We are already a month into the New Year, 2018. As with any profession, this year will be an eventful one because of the new trends expected to become popular that will affect accountants from insurance accountant to technology that will dominate the profession.

Accounting software that is cloud-based is currently employed by nearly 30 per cent of small businesses while majority of the accounting firms are still using hosted server or their programs still depend on internal server. It is expected that each year accountants will be geared toward using a model that is cloud-based SAAS or software as a service. A big change is expected in 2018 because an increasing number of small businesses will be using cloud and leading software companies specializing in tax programs are expected to launch to the public cloud-based software that is fully functional.

Tax planning will dominate because of the new tax law that was recently implemented. The new law is more complicated thus businesses will consider tax planning for the coming years. It is not sure how long this new provisions will be implemented because it is still dependent with the coming elections in 2018 as well as 2020 elections. There is a chance that it might change.

In terms of using AI or artificial intelligence as well as automation, the profession is only starting to scratch the surface. In the previous year, minor AI and automation is employed in book keeping and tax programs are also utilizing them. There is more to come as the technology is expected to increase efficiency and offer analytical data that will aid practitioners and their clients in improving the decisions regarding their businesses. Smarter programs are expected in 2018 that will be incorporated with huge payroll companies and a number of brokerage houses to make each tax return an automated task.

There is an expected decrease in compilations and reviews because of the increase in demand for real time accounting that is cloud based. Accountants and their clients are now relying on real time data to make more efficient decisions. Audits, which are the reason many get an insurance accountant, are expected to be rendered unnecessary in the next few years because of real time technology.


More Opportunities For The Travel And Tourism Industry With Bangkok Subway Expansion

It is not surprising why many investors are interested on Single House in Sathorn that is closely located to the business area. The business area of Bangkok is home to many splendid restaurants, shopping malls and entertainment venues for both young and old alike. An investor can easily rent out the single house to expats or corporate executives who want to settle in the city.

At the recent Thailand Tourism Forum, industry experts revealed that Bangkok is very close to becoming a mega city. In the next five years, Bangkok will complete the expansion of its subway system to provide more opportunities for the travel and tourism industry. The forecast is good news to real estate developers.

According to Bill Barnett, managing director of C9 Hotelworks, the metro line across Greater Bangkok will be 464 kilometres long in the next five years. It will surpass the length of London’s metro line that is only 402kms and that of New York‘s 380-km subway system. The East will soon become the new West particularly since it will be accessible to 3 international, interconnected airports, Suvarnabhumi, Don Mueang and Utapao.

JesperPalmqvist, director of STR a global research firm, said that Bangkok is on a “strong growth trajectory” in terms of hotels and infrastructures. Hotel performance has experienced 3 years of stable growth to firmly put the 2014 decline behind. In November 2017, RevPAR grew by 3.4% year-on-year. A reasonable strong supply increase at 4.1% was also significantly noticed.

The impressive numbers are the result of a stable demand growth of about 5% for 18 months in 2015. Hotels however were only able to increase rates by 2% because of the competing products launched in the market. Meanwhile, growth is not short-term because less than 7 months in 2017, 10-year records exhibited absolute RevPAR performance.

Because of traffic, many expats prefer to live in a Single House in Sathorn because it is within walking distance to a BTS train station or the MTR underground. Some areas have the boat service which is cheaper and less crowded. Expats prefer to rent single homes because of the existing restrictions on foreign property ownership.