Requesting a business loan for your small business, whether you’re starting a new one or expanding your existing business, may seem daunting. However, there are a few small steps you can take to ensure your success in obtaining that loan.
It’s important to understand that business loans are significantly more difficult to obtain than a
When writing a business contract in the U.S. Virgin Islands, it is important to keep in mind a few simple, but very important, considerations to protect your company and your best interests. By doing so, you can help ensure that in the event of a future dispute, your contract will be considered valid and enforceable
If you own or operate a business, it’s possible that you will find yourself in disputes from time to time. These conflicts can quickly become very heated, but mediation is often an effective alternative to engaging in expensive and time-consuming litigation.
Business disputes may be related to nonbinding verbal agreements, breach of contract and employment
In the business world, valuation is a standard practice. The process can be much more complicated for a startup than it is for an established company, however, as most new businesses don’t yet have the operating and revenue history that older organizations have demonstrated.
For this reason, standard techniques typically used to evaluate growth and
In a bold attempt to encourage economic development in the region and meet growing travel demands, the U.S. Virgin Islands has announced various incentives for airlines to add service to the Territory over the last few years — with some significant results.
For companies that began new service or increased existing service to St. Croix’s
As a hotel operator, your top priority is likely on making a profit and ensuring that your guests are happy with their stay. Managers work behind the scenes, handling numerous day-to-day responsibilities for all parts of hotel operations, including sales, marketing, supervising personnel, security, maintenance and food and beverages.
Managing a hotel may also involve
In a controversial move, U.S. Virgin Islands Governor John deJongh has vetoed a bill that would have widened the variety of businesses at Kingshill’s Research and Technology (RT) Park deemed eligible for considerable tax breaks.
The tax breaks are incentive benefits bestowed by the RT Park to its tenants at the park, preventing them from
A recent arrest made in the U.S. Virgin Islands has demonstrated the territory’s renewed dedication to enforcing tax evasion laws. In April, police arrested Johnathan Cohen, the sole owner of JKC Communications. Cohen was charged with failing to file and pay both individual and corporate income taxes for the past several years, according to the
The Governor Juan F. Luis Hospital on St. Croix, U.S. Virgin Islands has been hoping to secure a vendor agreement that would help the medical center sort out its revenue cycle. However, due to inadequate paperwork and a lack of quorum at the Territorial Hospital Board meeting on April 4, the Board found itself no
The U.S. Virgin Islands has recently begun to offer significant corporate tax breaks to small businesses in an attempt to encourage job creation and diversity within the territory’s economy, currently valued at $4.2 billion.
In early March, Governor John P. deJongh toured New York with regional economic development officials to meet with investors and interested