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Business Trends & Insights to Improve Operations
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Working from home the new way of going to work.
In a world where the COVID-19 virus changed the way of life for billions of people. Now that the world is starting to get back slowly, millions of people are still opting to stay home in order to flatten the curve even more as well as protecting themselves from this still widely unknown virus.
Many companies decided to have their workers remain at home when the COVID-19 virus broke out. Thus being able to still operate business and protect themselves as well as others. Many people had never had to work from home and the thing was strange to some. Although working from hoe has many perks. Like you're able to work in your pajamas, messy hair? No worries no one will see it. And look at all the time you are saving by not shaving or putting makeup on.
The commute from work is by far less easier. Instead of sitting in annoying traffic you're able to just walk to your couch. You're saving gas and time by not having to drive.
Lunch break whenever you want. You're able to eat whenever you want and you can have it right in your own kitchen or backyard.
What benefit to the company does this have.
For those working at home it may feel so much better than to having to go in the office. Sure you aren’t around many people but sometimes thats ok. But with not having to sit in traffic or take an hour of your life out to get ready it may seem that makes you feel happier thus not minding all the work.
Companies are able to still operate with out having to furlough or lay off employees. They also do not have to pay out unemployment. Record number of unemployment filings due to COVID-19 we’re reported. By keeping your business in operation you are helping to stimulate the economy.
You get to spend more time with your family
During the COVID-19 saga many people were asked to quarantine. Staying home unless going out to get essential things such as food, medications etc. We know with everyone’s busy schedule it is hard to always spend time with one another. But with working at home you are better able to interact with your household family or friends. Creating stronger relationships
Helping the earth reheal
We know that traffic in certain parts of the world is awful . if you have ever seen pictures or had to drive in india and asia then you know exactly what we are talking about. Traffic causes smog with is unhealthy for the air quality as well as our health. It also damages it earth itself. During the COVID-19 pandemic our air quality and ozone layer were showing signs of improvement. Thanks to the significantly less traffic and the lowered pollution from automobiles CO2 level went down significantly
Finding hobbies.
It was reported that a large percentage of the US population found new hobbies and activities during the pandemic. Thus increasing knowledge and skills. Working from home allows you to have a little more flexibility in your schedule. Being able to add a new hobby is always very recommended.
In conclusion we find it to be very interesting to start experience such a new normal. The road less traveled to work and the way we can fill up our day when work gets completed. If your company is planning to have you work for home we highly recommend you going into it with an open mind. As you may never want to have to go in the office again
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What is a Credit Report API?
In the adult world, your credit ratings say a lot about you!
When it comes to credit, it is an essential part of being able to progress as a business and make important decisions so that you can grow as an organization.
Often, for businesses, it is essential to gather credit reports before making important business-related decisions. This can feel like a very complex process for many, as there is a range of compliances and recommendations that need to be considered to fully evaluate any credit decisions.
But this is where credit report API comes in to play.
What is Credit Report API?
If you are considering using a credit report API, you should first understand what it actually is! In short, credit report API will give any organization access to three credit bureaus—such as Experian or TransUnion, to give you robust and detailed information to make a solid credit decision and also prevent any interactions with fraud, which no honest company wants to be a part of!
Here are five things you will receive with the credit report API:
1. You will get detailed credit reports
And we are not just talking about snapshots of credit reports. We mean fully detailed credit reports that list out every single detail you should be aware of. That way, you can do your due diligence and really understand the holistic picture before making any decisions.
2. You will get access to trending data
In addition to credit reports, it is important to also understand the data around consumer’s behaviors and decision making. This also makes predictions around future behavior and data—meaning that you will get access to long-term insight to really evaluate for your overall objectives.
3. You will get a soft inquiry to your credit report
There are two types of inquiries that can be made around credit reports—hard and soft. It is preferable to get a soft inquiry because this means that the information assessed will not impact your actual credit scores. This is very normal with lenders, insurance, and credit card companies so that they can pre-approve any credit requests. Because it is not linked to the actual credit application, no matter the outcome, your credit score will not change.
4. You will get all the credit scores
Understanding actual credit scores is an essential part of any credit report API. A good credit score basically indicates if they are a good candidate to get a loan or advance. The average person actually needs a credit score to even get the lease on a rental, let along a mortgage! There is a range of different credit scores, with the two most common being FICO Scores and Vantage Scores—keeping in mind there are also many industry-specific ones as well.
5. You will get help with managing your portfolio
One of the best things with Credit Report API is that you do not just get given information and left to fend for yourself. Collating all the information from the report, you will see highlighted opportunities to consider in terms of your credit and revenue growth. This is great news for organizations that need a little extra help ensuring they use the credit reports to the fullest capabilities.
Credit report API is a great way for an organization to make a sound decision that they are confident in and ensure it is implemented and followed through with to see positive results. Why would you not want to get a credit report API, when it means that you will get multiple detailed reports from top credit bureaus, receive trending insights, have your own liability protected and get a portfolio manager to implement processes for your organizations to positively benefit from!
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What is the Payment Protection Program And how do you apply?
Rather it us or someone that we know, We were all affected by COVID-19. Luckily the government really looked out for its citizens and they came up with very many different funding programs for US citizens. They released a stimulus package that had federal funding from the government to help out those who needed it. And while the stimulus package contained very many programs one of them was the Payment Protection Program or the (PPP) and that was meant to insure that people who were working were going to still get a paycheck. So let's dive a little deeper into this and see exactly what it is and how to insure you qualify for it.
What is the PPP
The payment protection program is a program to help small businesses be able to financially stay afloat during the pandemic and the aftermath of it. The PPP is a loan that may be forgivable if used on the correct things. Basically businesses have a 8 week span to figure out how they can use the loan one of the ways is to protect their workers' paychecks ensuring that during this uncertain time employees will still get paid.
Who is NOT eligible for the PPP
There has been guidelines set to not allow certain people to be eligible for the payment protection program. Let’s take a look and see if you are or are not eligible
Your business must of been in operation on or before february 15th 2020
You or your business is currently filing or going through bankruptcy proceedings you will not be eligible.
Your business is a hedge fund or private equity firm
Any owner of your company with 20% or more is currently involved with the justice system. Either incarcerated or paroled will disqualify you from being eligible
Household employees do not count, I.E housekeepers, nannies, butlers.
What will cause you to be eligible?
Now that we have the non eligible categories knocked out let’s look at what will possibly get you approved. Remember these are not guaranteed to get you approved their just some of the requirements that they have in order for you to become eligible.
Under 500 employees- If your company has 500 or less employees you are eligible for the payment protection program
Any business that is classified as accommodation or food service such as hotels and restaurants do qualify the program.
If you have had your business in operation on or prior to february 15th 2020.
Independently owned franchises, Tribal businesses
What paperwork is needed
Below is the information on the paperwork needed in order to file for the paycheck protection program.
First you will need to complete an application. In your application you need to include all of your basic information. Such as name, address,birthday, business name and type of business such as hospitality or whatever category it falls under.
Next you will need to disclose your average monthly payroll costs. Now that only applies to those with employees. This could include, Wages and salaries, cash tips, bonuses, payment for group health benefits etc.
Proof of payroll costs. For any employees you have, You will need to provide IRS form 940 for 2019
Health insurance payment proof- Any benefits that are being paid must be turned in. This will also help you qualify. You do not want to lose your employees benefits.
Proof of ownership- you need to prove that you are the owner of the company. Anyone in your company who owns 20% or more of the company needs to be on this form.
Don’t forget that you must completely comply with all the requirements. Failure to do so can affect the eligibility of approval.
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