Northwest Washington Business Center

Latest IRS News Releases & Updates

2012-02-07T11:00:00.000-08:00

Did you know? One of the best ways to get information is by visiting the IRS Small Business Tax Center where you can learn everything from how to get an Employer Identification Number (EIN) online to how to best navigate an audit.

Reminder: Small Business Health Care Tax Credit

http://www.irs.gov/newsroom/article/0,,id=223666,00.html?portlet=108

Small employers can get tax breaks for covering employee health costs.

If you are a small employer . . .

- with fewer than 25 full-time equivalent employees
- that pays an average wage of less than $50,000 a year
- and pays at least half of employee health insurance premiums

. . .then there is a tax credit that may put money in your pocket.

IRS Announces 2012 Standard Mileage Rates, Most Rates Are the Same as in July

http://www.irs.gov/newsroom/article/0,,id=250882,00.html

The Internal Revenue Service has issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is:

55.5 cents per mile for business miles driven
23 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations

The rate for business miles driven is unchanged from the mid-year adjustment that became effective on July 1, 2011. The medical and moving rate has been reduced by 0.5 cents per mile. The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile.

Payroll Tax Cut Temporarily Extended into 2012

http://www.irs.gov/newsroom/article/0,,id=251650,00.html

The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through Feb. 29, 2012. This reduced Social Security withholding will have no effect on employees’ future Social Security benefits. Employers should implement the new payroll tax rate as soon as possible in 2012 but not later than Jan. 31, 2012. For any Social Security tax over-withheld during January, employers should make an offsetting adjustment in workers’ pay as soon as possible but not later than March 31, 2012. Employers and payroll companies will handle the withholding changes, so workers should not need to take any additional action.

IRS Releases New Tax Gap Estimates; Compliance Rates Remain Statistically Unchanged From Previous Study

http://www.irs.gov/newsroom/article/0,,id=252038,00.html

The Internal Revenue Service has released a new set of tax gap estimates for tax year 2006. The tax gap is defined as the amount of tax liability faced by taxpayers that is not paid on time. The new tax gap estimate represents the first full update of the report in five years, and it shows the nation’s compliance rate is essentially unchanged from the last review covering tax year 2001.

The tax gap can be divided into three components: non-filing, underreporting and underpayment. As was the case in 2001, the underreporting of income remained the biggest contributing factor to the tax gap in 2006. Under-reporting across taxpayer categories accounted for an estimated $376 billion of the gross tax gap in 2006, up from $285 billion in 2001. Tax non-filing accounted for $28 billion in 2006, up from $27 billion in 2001. Underpayment of tax increased to $46 billion, up from $33 billion in the previous study. Overall, compliance is highest where there is third-party information reporting and/or withholding. For example, most wages and salaries are reported by employers to the IRS on Forms W-2 and are subject to withholding. As a result, a net of only 1 percent of wage and salary income was misreported. But amounts subject to little or no information reporting had a 56 percent net misreporting rate in 2006.

IRS Kicks off 2012 Tax Season with Deadline Extended to April 17

http://www.irs.gov/newsroom/article/0,,id=251825,00.html

Taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the best way to ensure accurate tax returns and get faster refunds. The IRS also announced a number of improvements to help make this tax season easy for taxpayers. This includes new navigation features and helpful information on IRS.gov and a new pilot to allow taxpayers to use interactive video to get help with tax issues.

“At the IRS, we’re working hard to make the process of filing your taxes as quick and easy as possible,” said IRS Commissioner Doug Shulman. “Providing quality service is one of our top priorities. It not only reduces the burden on taxpayers, but also helps in filing an accurate return right from the start.”

Taxpayers will have until Tuesday, April 17, to file their 2011 tax returns and pay any tax due because April 15 falls on a Sunday, and Emancipation Day, a holiday observed in the District of Columbia, falls this year on Monday, April 16. According to federal law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have two extra days to file this year. Taxpayers requesting an extension will have until Oct. 15 to file their 2012 tax returns.

Tax Tips for 2012

http://www.irs.gov/newsroom/content/0,,id=104608,00.html

Visit the Tax Tips page to find information on a variety of tax topics for the 2012 filing season. Just some of the tips you will find there:

Federal Tax Information Aplenty through Social Media

Tax Help ‘en Español’

Four Ways to Get IRS Forms and Publications

IRS e-file Launches; Most Taxpayers Can File Immediately

http://www.irs.gov/newsroom/article/0,,id=252505,00.html

The 2012 electronic tax return filing season is open. IRS reminds taxpayers that e-file remains the best way to get fast refunds and ensure accurate tax returns. IRS e-file has surpassed the milestone of 1 billion returns processed. The electronic transmission system revolutionized the way the IRS processes tax returns and made speedy refunds possible. More than 112 million income tax returns were e-filed last year, or 77 percent of all individual returns filed.

"E-file is the best option for taxpayers. E-file enables taxpayers to file more accurate returns and receive their refunds quickly and safely," said IRS Commissioner Doug Shulman.

Do Your Federal Taxes for Free with IRS Free File

http://www.irs.gov/newsroom/article/0,,id=252506,00.html

IRS Free File, which has been making taxes a little less taxing for a decade, opened January 17. More than 33 million returns have been filed through Free File since its debut.

Everyone can use Free File, either the brand-name software offered by IRS’ commercial partners or the online fillable forms. Individuals or families with 2011 adjusted gross incomes of $57,000 or less can use Free File software. Free File Fillable Forms, the electronic version of IRS paper forms, has no income restrictions. Free File software is a product of a public-private partnership between the IRS and the Free File Alliance, LLC. The Alliance is a consortium of approximately 20 tax software providers who make versions of their free-file products available exclusively at www.irs.gov/freefile. All Free File members must meet certain security requirements and use the latest in encryption technology to protect taxpayers’ information. Seventy percent of taxpayers – 100 million people - are eligible for Free File software. It’s perfect for first-time filers, families looking to save money or older Americans adept at using the Internet.

Recent Articles from e-News for Small Businesses

Contacting the IRS for information and assistance

The hours of service for most IRS toll-free telephone lines is 7 a.m. to 7 p.m. local time.

More Patents Granted to Women in Recent Years

2012-01-11T11:00:00.000-08:00

New Study Examines Patent Applications by Gender, Link to Women Entrepreneurs

WASHINGTON– The number of women obtaining patents has grown at an accelerating rate over the past 35 years and in numbers considerably higher than previously reported, a new study commissioned by the National Women’s Business Council (NWBC) has found.

The largest spike came in 2010, when 22,984 patents were granted to women, a 35 percent jump over the previous year, according to the NWBC study. In 2009, women received 17,061 patents, a 4.5 percent increase over the 16,321 issued in 2008.

The details are part of the preliminary findings from an extensive review of patents granted between 1975 and 2010 by the U.S. Patents and Trademarks Office. NWBC commissioned a private research company, Delixus, Inc., to conduct the study to determine the rates of women who apply for and receive patents. The study, which also will examine data on women with trademarks, is the first of its kind to explore this issue in depth, mainly because federal patent and trademark applicants did not ask for gender information. Newly-passed legislation will allow USPTO to start tracking gender data this year.

Research on intellectual property can help better understand the potential growth of women-owned businesses, said NWBC Chair Donna James.

"Patent and trademark ownership often is an indicator of entrepreneurial activity – historically, women have not been a large segment of this activity. A bump in IP ownership could indicate strong growth in women-owned companies," James said. "NWBC actively sought out this study because little research has specifically examined women business owners and intellectual property."

NWBC researchers examined the names of all patents granted over a 35-year period, determining gender by using the applicant’s name. To do this, researchers relied upon multiple sources, including the U.S. Census Bureau and the U.S. Social Security Administration, which compiles a list of the 10,000 most common American names for men and women. Because of the nation’s changing population demographics over the last quarter century, researchers also relied on commercially available data of the most common names in Chinese, Japanese, Korean, Indian, Spanish, German and French. Uncommon names from other foreign countries, as well as unisex names, also were examined. Just under 6 percent of the names in patent disclosures could not be identified as male or female.

Details of the full report, which will include numbers on women, patents, trademarks over time and by industry, will be released during an upcoming news event at the USPTO headquarters in early March. NWBC will commemorate a 35-year history of women inventors by featuring a new female inventor every day on its website during March, which is Women’s History Month.

The NWBC is a nonpartisan federal advisory council created to serve as an independent source of advice and policy recommendations to the president, Congress and the U.S. Small Business Administration on economic issues of importance to women business owners.

NWBC is the government’s only independent voice for women entrepreneurs. It is made up of 15 prominent women business owners and leaders of women’s business organizations. Each member is appointed to a three-year term.

Contact: Eun Kim, (202)205-6829
eun.kim@nwbc.gov

Bobby Flay's Production Company seeks "Next Food Entrepreneur Star"

2012-01-10T12:36:00.000-08:00

A new Food Network series is looking for FOODENTREPRENEURS. Specifically, people who have left their previous careerto start a new restaurant (or similar business).

· Must have little-to-no prior professionalculinary experience.

· Must be planning to open a brick-and-mortarspace where there will be walk-in customers (restaurant, bakery, sandwich shop,etc.).

· Must be aiming to open between now and autumn2012.

Those chosen will receive culinary & business coachingfrom Bobby Flay (a chef, restaurateur, and fixture on the Food Network) as wellas invaluable national publicity.

Those interested that fit theguidelines please email the following: Outline your timeline,budget, menu, team, and especially what’s at stake for you in this endeavor(why you are doing it and what risks, financial as well as personal, you aretaking). We are highly interested in the“human-interest” angle of your story.

We've also set up a Twitter account- https://twitter.com/#!/RockShrimpProdand a Facebook page - http://www.facebook.com/pages/The-Bobby-Flay-Project/285496171463077.

We'll be accepting people's stories through February, andare casting nationally.

For more information or question, contact Heather Brigss.

Heather Briggs

Rock Shrimp Productions

O: 646.747.4735

hrb@embassyrow.com

State launches $1.6 million Export Washington program for small businesses

2011-12-09T10:32:00.001-08:00

Companies already benefitting from new State Trade and Export Promotion (STEP) grant program expected to aid over 100 small businesses and generate $58 million in new export sales

December 6, 2011— The Washington State Department of Commerce has launched the Export Washington program, moving another step forward toward the goal of increasing the number of Washington state businesses actively exporting by 30% and growing export sales to $100 billion by 2015 as called for in Governor Gregoire’s Washington Export Initiative.

The new Export Washington program represents a $1.6 million investment in Washington’s small businesses, making it possible for them to expand into high-potential overseas markets. It is funded by the U.S. Small Business Administration’s State Trade and Export Promotion (STEP) grant program.

Washington earned the third largest state grant from SBA under the federal Small Business Jobs Act. The newly funded programs will run for 12 months. The Washington State Legislature previously allocated $3 million over three years for export training and other assistance to support the Washington Export Initiative.

“With 95 percent of the world’s consumers outside of the United States, exporting represents one of our greatest opportunities to generate economic growth and jobs,” said Commerce Director Rogers Weed. “But it takes time and effort to develop export opportunities. These new programs enabled by the STEP grant, will help more of our state’s promising businesses and entrepreneurs open up international markets for their products and services.” Through the slow recovery from recession, companies engaged in exporting showed a pattern of growth in the past one to two years, while non-trading companies generally declined in the same period according to Commerce analysis.

Small businesses make up about 95 percent of Washington businesses, and only 4 percent of Washington businesses currently export. Commerce officials estimate that 100 companies will benefit from the new Export Washington program. The program has three main components:

1. International, Rural and Agricultural Accelerator programs—Washington State representatives in Europe and China provide direct sales, marketing and distribution assistance for state small businesses , effectively giving them “boots on the ground” in those high-potential markets. Rural Washington businesses will be able to leverage expertise from community economic development partners as well as training, mentorship and networking programs. Agriculturally-focused businesses will have direct access to trade representatives from key target markets including China, Japan, Mexico and Taiwan, along with training on food and beverage-specific requirements for exports to these target markets. They’ll also receive help with developing export marketing plans.

2. Export Finance Assistance—The Export Finance Assistance Center of Washington will focus an aggressive series of training activities aimed at increasing the number of banks that participate in export finance programs from the Export-Import Bank and Small Business Administration.

3. Export Vouchers—As a direct investment in the growth of Washington small businesses, a voucher program will help them “go global” by paying for training and marketing activities including trade shows, language translations, international product certifications, and other activities.

“For a business poised to expand into a promising new market, an export voucher can provide the incentive needed for them to ‘make the leap’ without having to cut elsewhere,” Weed said.

One example is Enprecis, a Seattle-based technology company with a focus on the automotive industry serving eight global markets including China and Russia, and 12 car-maker brands. Enprecis’ global expansion going forward will use the China Accelerator program which will enable the company to open a Shanghai office.

Richard Counihan, Enprecis CEO, notes that "Without the assistance and programs from the Washington State Department of Commerce, we would have been unable to get access to the key decision makers at important global manufacturers in markets such as China. As a result, we accomplished swift decisions to move forward and received assistance to get up and running."

Several companies will be using the Export Washington vouchers to participate in upcoming trade shows, including those targeted by Commerce such as the Mobile World Congress in Barcelona, Spain in February and the Aerospace and Defense Supplier Summit in Seattle in March. There are still vouchers available to attend these and other shows, for more information see the Export Voucher Program website.

CAPLines Program: Reengineered to Help Meet Working Capital Needs

2011-11-16T10:00:00.000-08:00

Thenew CAPLines program gives small businesses more flexibility to finance thecontracts, subcontracts, and purchase orders they compete for and win – both inthe public and private sector. Byaddressing the short-term and cyclical working capital needs of smallbusinesses, the revolving line of credit will help small businesses managetheir cash cycle, scale up and create jobs.

Background

The CAPLines program was reworked tohelp more small businesses finance contracts through an SBA revolving line ofcredit.

Today, small businesses often competefor contracts to help them scale up and create jobs. One of the biggest “growing pains” associatedwith winning a new contract is the business often does not have the necessarycash on-hand to hire workers and buy materials to help fulfill the order. CAPLines provides a path for these smallbusinesses to finance contracts while avoiding high-interest rates.

Formerly, CAPLines was an underutilizedSBA working capital program. This year,the SBA engaged over 150 community lenders in all 50 states to uncover ways theprogram could work more effectively for both SBA lending partners and smallbusinesses themselves.

Key benefits of the new CAPLines program:

ü Smallbusinesses can pledge accounts receivable, inventory, contracts, and purchaseorders in order to secure an SBA revolving line of credit. For example, whenfulfilling a purchase order request, that same order can be used as collateralto obtain an SBA-guaranteed line of credit to hire more workers and buy morematerials.

ü Smallbusiness subcontractors can now obtain an SBA-guaranteed line of credit tofinance their work on a contract with a federal prime contractor.

ü TheSBA will no longer require small business owners without buildings or equipmentto use their personal assets as collateral to secure working capital.

ü Smallbusinesses working on a contract that requires surety bonding can obtain anSBA-guaranteed line of credit.

Inaddition, small businesses that use CAPLines will benefit from the newincreased SBA 7(a) loan limit of $5 million, which went into effect with theSmall Business Jobs Act of 2010. Theselarger loan sizes will help small businesses that are poised to win biggercontracts and create a significant number of jobs.

If you think that the new CAPLines program might be helpful to you – contact an SBA office near you and ask for a Lender Relations Specialist.

Small Businesses Find Support at Sno-Isle Libraries

2011-11-08T00:39:00.000-08:00

Marysville, Wash. — Some of us don’t take technology for granted. Bill Church, owner of Bow Wow Bill’s Dog Services, lives in an area of Arlington that isn’t wired for Internet access. This hasn’t stopped Bow Wow Bill from growing his dog walking and dog training business. He often visits the Arlington Library to use their business resources.

"I can always gain access to research or get in and do the nitty-gritty that needs to be done with my business: invoicing customers, maintaining a social media marketing campaign, setting up my domain name and website, emails," commented Bill. "Sno-Isle Libraries has been instrumental in helping me do all of these things."

Communities thrive when local companies succeed. Whether you’re pursuing a dream of starting a business or you’re an experienced business owner, you can find business services and online tools at Sno-Isle Libraries to help you succeed.

Sno-Isle Libraries is a partner to small businesses by providing access to information that helps make smart business decisions. Sno-Isle’s business services include: public computers and printers, free Wi-Fi, fax machines, computer classes, SCORE counselor sessions, online business databases, and the expertise of librarians to guide research.

Sno-Isle Libraries offers access to many free online databases crucial to business development. Business Plans eBookshelf gives examples of real business plans by entrepreneurs seeking funding. The Business Decision database creates reports on consumer or competitor demographics. For research on gathering client or vendor lists, the ReferenceUSdatabase provides quality information. These online resources, along with how-to videos, are available at www.sno-isle.org/explore/business.

For those who need personalized help, Sno-Isle offers the Book a Librarian service. Librarians will meet one-on-one with a patron for 30 to 60 minutes of instruction on using online resources or finding information.

The Lynnwood Library is Sno-Isle’s regional reference center for business and law and offers free one-on-one consulting sessions with SCORE, counselors to America’s small business. Self-service fax machines are available at five libraries: Darrington, Granite Falls, Lynnwood, Mukilteo and Oak Harbor. All 21 Sno-Isle community libraries have free Wi-Fi, public computers that can be reserved in advance, and friendly librarians eager to help.

For the last two years, Bow Wow Bill has been working hard to expand his business to include the publication of Dog Coach Magazine, expected to launch this fall. All of his online work was done using the library’s free Wi-Fi.

Being a partner in the economic growth of this region and helping local businesses succeed are important parts of Sno-Isle Libraries’ mission. Just ask Bow Wow Bill; with the support of Sno-Isle Libraries, there’s no telling how far he’ll take his puppy empire.

For more information on business services and online resources, visit www.sno-isle.org/business or ask a Sno-Isle Libraries staff member.

About Sno-Isle LibrariesSno-Isle Libraries serves 671,000 residents in Snohomish and Island counties. Sno-Isle has community libraries in Arlington, Brier, Camano Island, Clinton, Coupeville, Darrington, Edmonds, Freeland, Granite Falls, Lake Stevens, Langley, Lynnwood, Marysville, Mill Creek, Monroe, Mountlake Terrace, Mukilteo, Oak Harbor, Snohomish, Stanwood, and Sultan, as well as bookmobile stops in communities and at senior centers. Services and materials include more than 1.3 million items, reference services, electronic databases and computer equipment, Internet access, outreach programs for the homebound and local daycares, and story times for children. For more information on library services in your area, please call the Sno-Isle Libraries

Service Center at 360-651-7000 or 1-877-SNO-ISLE (1-877-766-4753), or visit the website at www.sno-isle.org.

For more information, contact: For immediate release
Ken Harvey, Communications Director September 1, 2011
360.651.7030 email: kharvey@sno-isle.org

Financing Seminar for businesses presented by the San Juan County EDC

2011-10-31T11:00:00.000-07:00

Learn about a variety of business financing options available from traditional and alternative agencies and lenders, during a Business Financing Seminar presented by the San Juan County Economic Development Council. The event will be held at the Mullis Street Fire Hall, 1011 Mullis Street, Friday Harbor, on Monday, November 7, from 9-11 a.m.

Attendees will meet representatives from financing agencies, including the SBA, the USDA, EFACWA, the Northwest Women’s Business Center, local lenders, and more – over eight representatives will attend. Participants will leave the seminar knowing which program will best suit their businesses’ needs.

Topics will include local, state and federal loan and grant sources, loan requirements, the recent expansion of federal funding through federal and state agencies, export financing assistance, alternative financing options, hiring incentives and other services available to assist businesses.

The EDC thanks San Juan County, the Town of Friday Harbor and the Ports of Friday Harbor and Lopez for supporting our Business Financing Seminar.

The San Juan County Economic Development Council’s Business Education Series was created by the EDC in response to concerns from local business owners and overall increased demand from new businesses. This series presents a variety of business topics designed for both those opening a new business or those wanting to take their business to the next level. The Business Education Series was funded in part by San Juan County government.

The San Juan County Economic Development Council (EDC) strives to strengthen and diversify the economy of San Juan County. We believe a strong economy builds a strong community. The EDC works to build an environment that helps business owners create jobs. We serve business: linking organizations and resources, providing valuable information, rendering assistance and advocating for an improved island business environment.

2012 Washington State Small Business Award Competition Begins

2011-10-28T09:48:00.000-07:00

SBA Seeks Nominations - deadline November 28th

It’s no secret small businesses make significant contributions to the state's economy and they bring innovative products and services to the marketplace. They are an important source of employment and opportunity throughout the state. Seattle District SBA Office wants to recognize these entrepreneurs and those who support and champion small businesses. Help us by nominating candidates for our upcoming awards program. Last year, two of our local winners received National awards and represented Washington state during National Small Business Week ceremonies in Washington DC.

“The determination and ingenuity of America’s workers and entrepreneurs are major contributors to the strength of the American economy” says Nancy Porzio, Seattle District Director. “Over 99% of all employer firms are small businesses, employ 51% of all people and have generated over two-thirds of new jobs in the past decade. Washington State is home to approximately 550,000 small businesses and make up 98% of the state’s employers. Small business is BIG in Washington State”, she adds.

Any individual or organization may submit nominations. A company, owner, or business advocate can also self-nominate. Award categories include:

·Small Business Person of the Year

·Small Business Exporter of the Year

·SBA Young Entrepreneur of the Year

·Jeffrey Butland Family-Owned Business of the Year

·Entrepreneurial Success Award

Small Business Champion Award recipients are individuals or organizations who have dedicated their professional skills or personal talents to supporting small businesses through advocacy and volunteer efforts. Nominees may or may not be small business owners. Categories include:

·Financial Services Champion of the Year

·Home-Based Business Champion of the Year

·Minority Small Business Champion of the Year

·Veteran Small Business Champion of the Year

·Women in Business Champion of the Year

The winner of the Washington State Small Business Person of the Year, along with other state winners will be honored locally at the Washington State Awards Gala in the Spring 2012 and continue on to compete for national honors.

All nominations must be received no later than Monday, November 28, 2011. For a copy of the full nomination criteria, contact Carol Andersen, SBA, at 206-553-7315, carol.andersen@sba.gov. Downloadable nomination forms are also available electronically. Go to http://www.sba.gov/about-offices-content/2/3157/resources/6635 # #

VA Announces PSA About Women Veterans: Nationwide Release Encourages Public to Join VA Culture Change

2011-10-25T13:36:00.000-07:00

WASHINGTON – The Department of Veterans Affairs is taking its internalculture-change message to the public with a new video about the vital rolewomen play in the military and the importance of providing women Veterans withhigh quality health care.

VA’sWomen Veterans Health Strategic Health Care Group recently completed a60-second public service announcement (PSA) that challenges viewers to rethinkpre-conceived notions about women Veterans. This dynamic video features images ofwomen in service to our country: they drive supply trucks, participate inreconnaissance missions, walk safety patrols, and operate helicopter machineguns.

“Whenthese brave women complete their service and become Veterans, we want them toknow that VA is there to meet their health care needs,” said Dr. PatriciaHayes, Chief Consultant of the VA’s Women Veterans Health Strategic Health CareGroup. “At the same time, we want the public to recognize the contributions ofwomen Veterans and the benefits they have earned through their service to theNation.”

ThePSA is available for viewing on YouTube: http://www.youtube.com/watch?feature=player_profilepage&v=BOP5DCgjxPEand www.va.gov. Broadcast organizationsinterested in obtaining a broadcast-quality version of the PSA should contactVA’s Office of Public Affairs (202-461-7600).

Thenumber of women using VA has doubled in the past decade, and that increase isexpected to continue into the next decade.

Morethan half of the women using VA health care have a service-connecteddisability. These range from combat PTSD to missing limbs. The PSA gives asampling of the service-connected disabilities women Veterans must cope with ona daily basis.

ThePSA was developed for nationwide release from a new employee orientationvideo—available at www.womenshealth.va.gov—createdas part of VA’s ongoing efforts to change its culture to be more understandingand accommodating of women Veterans and honor the important service they havegiven our country.

“VA’sgoal is to provide the highest quality care for every Veteran, regardless ofgender. Part of this initiative has been educating staff so theyunderstand and appreciate that it is their job to make sure women Veteransreceive the best care anywhere,” said Hayes.

In addition to new employee orientation, VA is spreading itsculture-of-change message to current employees through posters, conferences,and e-mail messaging. VA health care providers are all given the opportunity toparticipate in a ground-breaking mini-residency program in Women’s Health forVeterans. This program has already educated more than 1,100 VA providers on thelatest knowledge in gender-specific health care.

Formore information about VA programs and services for women Veterans, pleasevisit: www.va.gov/womenvet and www.womenshealth.va.gov.

The Videos Are In – Tell Us Your Favorite Small Business Exporting Story

2011-10-24T13:15:00.000-07:00

Voting Period for SBA’sExport Video Contest is NOW OPEN
In August, we announced theExport Video Contest, asking small businesses to submittheir exporting stories through YouTube videos for a chance to win cash prizesand a monetary award towards a future export event. The contest, presented inpartnership with Visa and the President’s NationalExport Initiative,recognizes successful small exporters and helps get the word out about federaltools available to help U.S. exporters expand into new markets, grow theircompanies and spur job creation.

You responded. We receivedentries from companies doing business around the globe, representing diverseindustries from personal care products to healthcare innovations andresidential water solutions.

The videos are in, and apanel of judges has selected the finalists in each of five categories. Now it’syour turn to vote for the best video on our YouTube channel and Facebookpage!

Voting Instructions
There are two differentways to vote:
1.) You can "Like" yourfavorite contestant's video on the SBA Facebook page (www.facebook.com/sbagov), via the links provided under the"Videos" tab.
2.) You can"Like"(thumbs-up) your favorite contestant's video on the SBA YouTubechannel (www.youtube.com/sba).

You may vote once per videoper voting method, but you may vote for as many of the finalists’ videos as youwish. Votingcloses at 12 Noon (Eastern Time) on Friday, October 28, 2011. Only votes cast through one of theofficial voting methods will count. "Likes" on videos posted onnon-SBA YouTube channels, personal Facebook profiles, or any other website willNOT count toward the final tally. To find the videos, check out our Facebookand YouTube pages or click on the links below by business category:

Agribusiness category
Building Beyond Our Borders
http://www.youtube.com/watch?v=sLbFRRHnUzg
Consumer Productscategory
Grow Your Business OneCountry At A Time
http://www.youtube.com/watch?v=4sIRpVXepuA
Manufacturing category
Exporting: Success BeyondBorders
http://www.youtube.com/watch?v=V4_s6fo1hYM
Professional Servicescategory
From Small to InternationalBusiness
http://www.youtube.com/watch?v=CngHp1qerQ0
Technology category
Exported from Detroit
http://www.youtube.com/watch?v=EO7uVnRsVaw
Please see our full ContestRules for completecontest policies.

Co-sponsorshipAuthorization #11-7080-11SBA

SBA’sparticipation in this cosponsored activity is not an endorsement of the views,opinions, products or services of any cosponsor or other person or entity. AllSBA programs and service are extended to the public on a non-discriminatorybasis.

IRS News Releases and Headliners - October 2011

2011-10-21T10:23:00.000-07:00

Free Webinar: Reporting of Employer Provided Healthcare Coverage on Form W-2
http://www.irs.gov/businesses/small/article/0,,id=158856,00.html#2
Oct 31 -- 11:00 a.m. (PT)
This webinar will explain the Affordable Care Act provision that requires some employers to report health care coverage on Form W-2.
Learn about:
What changes employees will see in their Form W-2 due to the coverage reporting
When employers must begin reporting the cost of coverage on the Form W-2
Transitional relief for certain employers, plans, and situations
Which employers need to report the cost of coverage on the Form W-2
How employers will report the cost of coverage on the Form W-2
What valuation methods employers can use to determine the amounts to report on the Form W-2
CPE credit is not being offered for this webinar. To register for this event, visit the Internal Revenue Service Webinar Registration Web Site.

Related links:
IR-2011-31, IRS Issues Interim Guidance on Informational Reporting of Employer-Sponsored Health Coverage
Employer-Provided Health Coverage Informational Reporting Requirements: Frequently Asked Questions

BBB Secure Your ID Day: Gather Unwanted Documents for Fall Shred Event
http://alaskaoregonwesternwashington.bbb.org/secure-your-id
The Better Business Bureau is partnering with America's Credit Union and Cintas Document Management to bring free bulk shredding services to South Sound residents. BBB's goal is to help consumers securely shred personal documents to prevent identity theft.
Saturday, Oct. 22 -- 9 a.m. – 1 p.m.
1495 Wilmington Drive, DuPont, WA 98327
Drive up and drop off up to three bags or boxes of unwanted documents per person. No cardboard or three-ring binders please. Items will be securely shredded on-the-spot by Cintas for free. Donate old cell phones: ACU and BBB are collecting for Cell Phones for Soldiers. Donated phones help raise the funds needed to purchase international calling cards for deployed soldiers. For more information, please contact BBB serving Alaska, Oregon and Western Washington at 206-431-2222 or events@thebbb.org.

Business Tax Requirements – Offered in Spanish – Yakima & Sunnyside
http://www.rcdr.biz/default.htm
October 18 – Sunnyside -- Work Source Office, 1925 Morgan Road
6:00-8:30 pm
or
October 20 – Yakima -- Rural Community Development Resources, 22 S 3rd Ave
6:00-8:30 pm
Rural Community Development Resources, in partnership with the IRS, and the Washington State Departments of Labor & Industries and Employment Security will be providing educational workshops for limited English speaking Latino entrepreneurs and start up businesses on employment taxes, and state and federal business tax filing and reporting, including IRS Form 1040 Sch C, Sch SE and credits. Call (509) 453-5133 for more information or to register.
THIS SEMINAR IS IN SPANISH.

Small Business Taxes & Bookkeeping for the Small Business Owner – Seattle SBA Education and Training Center
2nd & 4th Thursday of each month - 10:00 am to 11:00 am
Upcoming workshop dates: Oct 27, Nov 10
4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle
Learn about important information regarding your tax responsibilities as a small business owner, find out what taxes to pay and when they are due. Please pre-register by calling 206-553-2664 or e-mail workshops@sba.gov
SBA and SCORE also offer a variety of other workshops for small business owners – find out more here: http://www.sba.gov/about-offices-content/2/3157

Payroll Workshop – Seattle SBA Education and Training Center
2nd Thursday of each month -- 8:30 am to 9:30 am
Upcoming workshop dates: Nov 10
4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle
Have you been in business for a while? Are you ready to incorporate? Hire employees? Want to know more about payroll, benefits, and human resources? If you need to make informed decisions about growing your business, this workshop is for you. Key information covered: 1) Contractor versus employee; 2) Keeping current on ever changing tax rules; 3) Payroll software and business owner options; 4) Strategies to empower yourself as an entrepreneur.
Please pre-register by calling 206-553-2664 or e-mail workshops@sba.gov
SBA and SCORE also offer a variety of other workshops for small business owners – find out more here: http://www.sba.gov/about-offices-content/2/3157

Explore Self-Employment and Learn How to Start Your Own Business!
http://nwwbc.seattleccd.com/node/81
Self Employment may not be for everyone, but if you think that you have the experience, interest, and motivation, these workshops can be an important first step towards a successful new beginning. This workshop will give you an opportunity to assess your skills in order to determine if self employment is a realistic option for you.
3rd Monday of each month
Where: Worksource – Oak Harbor
Cost: FREE!
For more information or to register, contact the Northwest Washington Business Center at (425) 423-9090 or infonwwbc@seattleccd.com.

Seattle SCORE Workshops
http://seattle.score.org/events
SCORE offers workshops designed to give you the skills necessary to start your own successful business.
Nov 2, Dec 7 -- Starting a New Business
4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle

Starting Your Own Business -- Spokane SBDC
http://wsbdc.org/class-detail?classid=371
The Spokane SBDC is now offering a Starting Your Own Business Seminar in Spokane the 3rd Wednesday of each month, starting September 21. If you have considered starting your own business, or are ready to jump start a small business you already have, you may want to attend this one evening seminar. Please register on the SBDC website training calendar http://wsbdc.org/training-calendar or use the direct link in the class title. If you have difficulty with on line registration or have other registration questions contact Cindy Doyl at cdoyl@wsu.edu or 509-358-7890.
Oct 19 – 6:00 – 8:30 pm
(Every Third Wednesday from 6 - 8:30 pm)
Cost: $36
Held at the Spokane Small Business Development Center
665 N Riverpoint Blvd., Suite 201, Spokane WA 99202

Spokane SCORE Workshops
http://www.scorespokane.org/workshops.php
Spokane Regional Business Center (SRBC), 801 W. Riverside Avenue, Suite 444, Spokane
Financial Record Keeping – Oct 26
How to Start a New Business – Nov 2
Cost: $40 if registered in advance
Check website for current listings and registration information.

Employer's Introduction to L&I Workshops
http://www.lni.wa.gov/Safety/TrainTools/Workshops/Available/EmpOrien/default.asp
This workshop is designed for new businesses or businesses that plan to hire workers for the first time. It explains an employer’s rights and responsibilities and provides an overview of the services and resources available at Labor and Industries.
Nov 9 – Mt. Vernon – 9am – 12 pm
Nov 17 -- Tacoma – 1:00 – 3:30 pm

IRS Updates & News Releases:
Did you know? One of the best ways to get information is by visiting the IRS Small Business Tax Center where you can learn everything from how to get an Employer Identification Number (EIN) online to how to best navigate an audit.

Tax Extension Reminder: Don't Overlook Special Individual and Small Business Tax Benefits; Choose e-file, e-pay
http://www.irs.gov/newsroom/article/0,,id=247198,00.html
The Internal Revenue Service urges taxpayers whose tax-filing extensions run out soon to double check their returns for expanded individual and business tax benefits, and then file their returns electronically using IRS e-file or the Free File system. Many of the nearly 10.1 million taxpayers who requested an automatic six-month extension this year have yet to file. IRS e-file is fast, accurate and secure, making it an ideal option for those rushing to meet the Oct. 17 deadline that applies to most people who requested extensions, or the special Oct. 31 deadline that applies to many taxpayers affected by recent natural disasters.

Most taxpayers qualify for e-file regardless of whether they prepare their returns themselves or use a paid preparer and regardless of whether they live in the United States or abroad. In addition, those with incomes at or below $58,000 can file their returns for free using the Free File link on IRS.gov. Taxpayers who file electronically can also e-pay by authorizing an electronic funds withdrawal or making a credit card payment.

IRS Announces New Voluntary Worker Classification Settlement Program; Past Payroll Tax Relief Provided to Employers Who Reclassify Their Workers
http://www.irs.gov/newsroom/article/0,,id=246203,00.html
The Internal Revenue Service has launched a new program that will enable many employers to resolve past worker classification issues and achieve certainty under the tax law at a low cost by voluntarily reclassifying their workers. This new program will allow employers the opportunity to get into compliance by making a minimal payment covering past payroll tax obligations rather than waiting for an IRS audit. This is part of a larger “Fresh Start” initiative at the IRS to help taxpayers and businesses address their tax responsibilities.

“This settlement program provides certainty and relief to employers in an important area,” said IRS Commissioner Doug Shulman. “This is part of a wider effort to help taxpayers and businesses to help give them a fresh start with their tax obligations.”

The new Voluntary Classification Settlement Program (VCSP) is designed to increase tax compliance and reduce burden for employers by providing greater certainty for employers, workers and the government. Under the program, eligible employers can obtain substantial relief from federal payroll taxes they may have owed for the past, if they prospectively treat workers as employees. The VCSP is available to many businesses, tax-exempt organizations and government entities that currently erroneously treat their workers or a class or group of workers as nonemployees or independent contractors, and now want to correctly treat these workers as employees. See the full article for details on which employers are eligible to participate.

What Employers Need to Know About Claiming the Small Business Health Care Tax Credit
http://www.irs.gov/newsroom/article/0,,id=246605,00.html
Many small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. This credit can enable small businesses and small tax-exempt organizations to offer health insurance coverage for the first time. It also helps those already offering health insurance coverage to maintain the coverage they already have. The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ 25 or fewer workers with average income of $50,000 or less. See the full article for what small employers need to know so they don’t miss out on the credit for tax year 2010.

IRS Issues Guidance to Further Implement Return Preparer Oversight
http://www.irs.gov/newsroom/article/0,,id=246227,00.html
The Internal Revenue Service has provided additional clarification for tax return preparers about when to renew their preparer tax identification numbers (PTINs), how suitability testing will be conducted, and when the continuing education requirement will begin. Notice 2011-80 provides that PTINs must now be renewed on a calendar year basis. All PTIN holders must renew their numbers using the online PTIN application or paper Form W-12 and pay the required fee ($64.25 for 2012) after Oct. 15 and before Jan. 1 annually. The return preparer initiative requires anyone who is paid to prepare all or substantially all of any federal tax return or claim for refund to register with the IRS and obtain a PTIN. Certain preparers also must pass a competency examination, undergo a suitability check and complete continuing education courses annually. The IRS will designate individuals who meet these requirements as a Registered Tax Return Preparer. Individuals designated as a Registered Tax Return Preparer will be authorized to prepare federal tax returns and claims for refunds and to represent their clients during an IRS examination of a tax return or claim for refund that the individual signed as the paid tax return preparer. The notice also clarifies a number of other issues.

Recent Articles from e-News for Small Businesses

Update on heavy highway vehicle use tax
A new video outlines recent changes for filing Form 2290, Heavy Highway Vehicle Use Tax return.

Reminder: Federal Payroll Tax Deposits must be made electronically
As of Jan. 31, 2011, using Federal Payroll Tax Deposit coupons F8109 or F8109B is no longer a deposit option. Federal tax deposits must be made electronically. Payments mailed to the Federal Tax Deposit mailbox in St. Louis are being returned.

Notice 2011-81 provides the 2011-2012 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home.

IR-2011-94, IRS Shows Continued Progress on International Tax Evasion

Subscribe to e-News for Small Businesses
If you would like to receive e-News for Small Businesses, please visit this link to subscribe: http://www.irs.gov/businesses/small/content/0,,id=154826,00.html

Recommend e-News for Small Businesses
If you already receive e-News for Small Businesses, you can share it with a business acquaintance, colleague or employee. Just forward this link to them to view a sample edition and subscribe.

Congratulations Roland!

2011-04-06T11:22:00.000-07:00

SBA Names Roland Chaiton

Community Capital Development, Seattle

2011 Washington State and Region 10 Financial Services Champion of the Year

Celebration honoring winners on April 21st – The Museum of Flight, Boeing Field, Seattle

SEATTLE – “If anyone can do this, you can.” These words are frequently spoken to Roland Chaiton, the U.S. Small Business Administration Region 10 (WA, OR, ID, AK) Financial Services Champion. Roland Chaiton is a Loan Officer and Vice President of Community Capital Development (also known as CCD). CCD is a leading technical assistance provider, U.S. Treasury Department designated Community Development Financial Institution, and a non-profit lender to microenterprises and small businesses, including start-ups, throughout Washington.

Roland Chaiton understands entrepreneurs. He managed a family-owned business while in college and had ownership in several small businesses during his career, including an export management business he operated for ten years. His entrepreneurship and management experience provide an excellent platform in becoming a loan officer who helped build CCD into an alternative lending powerhouse.

“Roland is a trail blazer, one who has pioneered many “firsts.” He was the first to move CCD beyond the realm of standard 7(a) loans d into LowDoc and SBA Express loans. He submitted the first Patriot Express loan for approval in SBA’s Region 10,” said Nancy Porzio, SBA Seattle District Director. He was instrumental in CCD’s expansion of their loan offerings to include USDA’s Business & Industry loans and USDA’s microloans. His successful facilitation made it possible for CCD to offer SBA Export Express loans to which contributed to the Presidential initiative designed to help companies expand exporting. With a nearly two decade career, Chaiton is the first lender whose loan portfolio has a near-zero default ratio.

Roland has become the “go-to” person for troubled companies with difficult loan situations. Virtually all his clients were originally declined by conventional banks before connecting with him. Chaiton’s clients range from mom-and-pop shops and aerospace companies to bio-fuel producers and a “man-skirt” (kilt) manufacturer. “No matter the situation, whether to help someone bridge a period of unemployment, change their life permanently by moving in a different career direction, or pursuing the dream of being one’s own boss, Roland’s teaching, guidance and direction has made the difference in their lives,” said Regional Administrator Calvin W. Goings. “The business, financial skills and services that Chaiton has provided over the years through classes or by one-on-one meetings has imparted critical information entrepreneurs have needed to establish successful businesses.

Chaiton lends his expertise to formal and informal education efforts; providing entrepreneurial training at CCD, designing award winning curricula at local colleges, and serving as a volunteer presenter of loan information at SBA loan briefings and the annual Renton Small Business Fair. He has served as a liaison for clients to Congressional representatives, so they could testify on how they have been adversely affected by mortgage industry abuses, lack of access to credit, as well as the end of the bio-diesel tax credit. He advocates for programs that can result in small businesses having increased access to finance options that foster economic growth and job creation.

For the life-changing positive impact on scores of small business owners and impressive results from years of contributions and advocacy efforts, we are proud to name Roland Chaiton as the SBA Region 10 Financial Services Champion.

For information about the Washington State Awards Gala, contact carol.andersen@sba.gov

An independent panel of judges selected the winner based on several criteria, including assistance given small businesses to obtain financing, advocacy for changes in the financial services industry, encouragement of the flow of investment capital to small businesses, active support for legislative or regulatory action, and significant contributions through the advocacy efforts of the financial services industries to advance small business interests.

Small Business Champion Award winners will be selected at the state, regional and national levels. Information on SBA’s National Small Business Week 2011 celebrations in Washington, D.C. can be found at www.sba.gov

SBA News Release

2011-04-01T13:40:00.000-07:00

SBA Names Anne-Marie Faiola

CEO, Bramble Berry, Inc., Bellingham

2011 Washington Small Business Person of the Year

Celebration honoring winners on April 21st – The Museum of Flight, Boeing Field, Seattle

SEATTLE – The U.S. Small Business Administration’s 2011 Washington State Small Business Person of the Year epitomizes the hobbyist’s dream come true. Anne-Marie Faiola turned a soap-making hobby into a multimillion-dollar business called Bramble Berry. From shea butter to lavender essential oil to palm oil, Bramble Berry now sells raw materials to soap and toiletry artisans worldwide.

Faiola practices what she preaches. “A good business comes from finding something that works and capitalizing on it…Success doesn’t happen overnight…It’s about replicating small victories every day.”

In 1998 when Anne-Marie Faiola was 20 years old and still in college, she pursued entrepreneurship-- her soap making hobby-turned-into-business quickly bubbled beyond her living room. A driving force for Anne-Marie and the company is her sincere love of the craft coupled with a desire to help others. Her mission statement is to “provide creative empowerment with LOVE – changing Lives, creating Opportunities, delivering high Value, and encouraging creative Expression through the five senses.”

With over 2500 products, Bramble Berry enables artisans to create everything from soaps to lotions to lip balms to mineral-based makeup and candles. Expanding beyond Bramble Berry’s niche, Anne-Marie also operates Otion (lotion without the “L”) - a retail store where she also offers workshops to teach customers the soap making techniques, and ELF Industrial - a soap mold manufacturing company.

Harnessing social media has strengthened customer relationships leading to increased sales because “people buy from people they like.” Anne-Marie blogs on her website, SoapQueen.com; has launched a YouTube channel called Soap Queen TV to share free instructional videos; tweets for @BrambleBerry with small business advice and soapy musings; and has a Facebook site with over 4,600 fans and loyal customers.

“An SBA 504 loan from People’s Bank and Northwest Business Development Association enabled Faiola to acquire her own 13,000 square foot office and warehouse building in Bellingham, and later to expand it by 3,500 square feet,” conveys Nancy Porzio, SBA Seattle District Director. “Bramble Berry has been profitable for all 13 years of the company’s existence. The sustained financial performance is a testament to her business acumen” added Porzio. “Dynamic, double-digit growth in sales from multiple income streams now generates annual revenue of about $3 million. Faiola has 32 employees, serves on numerous boards, and annually gives back about 8% of profits to charitable causes. These are key reasons why she was selected for the Washington state Small Business Person of the Year,” said SBA Regional Administrator Calvin W. Goings.

With her high-energy work style, integrity, desire to connect with the business community, and passion for the soap business, Anne-Marie Faiola is likely to clean up in the soap industry for years to come! “We enthusiastically select her as Washington State Small Business Person of the Year. Anne-Marie reminds us that the entrepreneurial spirit is alive and well in Washington state, and we look forward to honoring her success at the Awards Gala on April 21^st,” said Porzio.

For information about the Washington State Awards Gala, contact carol.andersen@sba.gov

An independent panel of judges selected the winner based on several criteria, including staying power, business growth, increase in employees, response to adversity, innovation, leadership and contributions to the small business community, and evidence of community-oriented projects. As the state winner, Faiola will be traveling to Washington DC in May to compete with 53 other winners from across the country for the National Small Business Person of the Year Award. Information on SBA’s National Small Business Week 2011 celebrations in Washington, D.C. can be found at www.sba.gov

SBA Announces Washington 2011 Small Business Awards

2011-03-24T13:41:00.000-07:00

SBA Announces Washington 2011 Small Business Awards

Honoring winners on April 21st - Museum of Flight, Boeing Field, Seattle

SEATTLE – The U.S. Small Business Administration’s Seattle District Office has named Anne-Marie Faiola, CEO, Bramble Berry, Inc. of Bellingham, Washington as 2011 Washington Small Business Person of the Year. Bramble Berry sells raw materials to soap and toiletry artisans all over the world. From shea butter, to lavender essential oil, to palm oil, Bramble Berry has everything you may need to make a great bar of soap for yourself and family. Bramble Berry was started by Faiola in 1998 with $15,000 on a credit card and has since then grown into multiple income streams and 3.1 million in profitable revenue. With a popular blog, a separate retail store, and separate manufacturing facility, Bramble Berry continues to expand its reach into the soap and toiletry market.

“Anne-Marie demonstrates the passion and drive needed for successful entrepreneurs. She self-funded her start-up company in her living room and has since then expanded the company to over 3 million in annual revenue. The company is currently debt free (except a warehouse mortgage obtained through the SBA 504 loan program) and has been profitable for 13 straight years,” said SBA Seattle District Director Nancy Porzio.

An independent panel of judges selected the winners based on several criteria, including: staying power; business growth; increase in employees; response to adversity; innovation; leadership and contributions to the small business community; and evidence of community-oriented projects. “Anne-Marie exhibited strength in all areas,” said SBA Regional Administrator Calvin W. Goings. “As the state winner, Anne-Marie Faiola will compete with 53 other winners from across the country for the National Small Business Person of the Year Award in Washington D.C. I know she will represent the State of Washington well.”

The Washington state SBA Small Business Awards’ Event – A Big Night for Small Business - will be held in Seattle on April 21st at the Museum of Flight, Boeing Field, Seattle WA. In addition to celebrating Faiola’s outstanding accomplishments, the award ceremony will honor the following state and regional winners (regional winners competed against state winners in AK, ID, and OR):

× WA state & Region 10 – Financial Services Champion – Roland Chaiton, Community Capital Development, Seattle;

× WA state & Region 10 - Veteran Small Business Champion – Darrel Bowman, mynetworkcompany.com, Tacoma;
× WA state & Region 10 – Women in Business Champion– Laurie Simon, Ombrella, Inc., Kirkland;

Also featured will be state SBA Champion award winners who support and advocate on behalf of small businesses and entrepreneurship.

× WA state – Small Business Exporters of the Year – Robert Haberman & Bradley Haberman, No. 9 Hay LLC, Ellensburg;
× WA state - Family-Owned Small Business of the Year – Andrew J. Olson, A-1 Mobile Lock & Key, Inc., Burlington;
× WA state – Home-Based Business Champion – Cosette Gibson-Pfaff, South Sound Regional Business Incubator, Federal Way;
× WA state – Minority Small Business Champion – Mike Skinner, StartZone – Highline Community College, DesMoines;

“Our winners remind us that the entrepreneurial spirit is alive and well in Washington state,” said Porzio, “and we look forward to honoring their success at The Museum of Flight in April”.

For information about the Washington State Awards Gala, contact carol.andersen@sba.gov. Information on SBA’s National Small Business Week 2011 celebrations in Washington, D.C. can be found at www.sba.gov

Women Entrepreneurs Summit

2011-02-24T13:22:00.000-08:00

SBA HOLDS A WOMEN ENTREPRENEURS SUMMIT

TO ADDRESS CRITICAL CHALLENGES FACING WOMEN IN BUSINESS

SEATTLE, March 5, 2011 – Anna Harvey, SBA Associate Administrator for the Office of Women’s Business Ownership, will speak with small business owners from the Pacific Northwest to address the critical challenges facing women in business. Women Entrepreneurs in Oregon and Washington State make significant contributions to their economies. Oregon and Washington have 88,317 and 137,394 women-owned firms respectively. The last U.S. Census showed women-owned firms contribute $2.8 trillion dollars annually and employ 23 million people directly and indirectly. Women business owners are major contributors and players in the overall economy.

WHAT: SBA will host a Women’s Entrepreneurial Summit for women business owners, leaders and government experts to address the critical challenges, opportunities and public policy measures needed to move the women’s business agenda to the next level.

The summit serves:
* Set priorities and explore business challenges facing women Entrepreneurs
* Promote dialogue among the women’s business community.
* Guide national policy recommendations for Congress and the Executive Branch
* Provide networking opportunities for women business owners

WHO: Anna Harvey, Associate Administrator Office of Women’s Business Ownership

WHERE: Renton Technical College
3000 NE 4th Street
Renton, Washington

WHEN: March 5, 2011 from 12:00 to 5:00 PM

Registration is required for this free event:
http://events.sba.gov/eventmanagement/eventlisting.aspx?state=WA.

For more information contact: Sherry Mina by phone or e-mail at 206-553-7316 or
sherry.mina@sba.gov

Small Business Jobs Act of 2010 Tax Provisions

2011-01-20T10:00:00.000-08:00

The Small Business Jobs Act of 2010 was enacted on September 27, 2010. The SBJA contains some tax provisions that take effect this year. Other tax provisions will be implemented during the next several years. Several of the provisions are designed to encourage investment and provide access to capital for businesses. The following is a list of those specific tax provisions now in effect; additional information will be added to this page as it becomes available.

Sect. 2011: Temporary exclusion of 100% of gain on certain small business stock
Sect. 2012: General business credits of eligible small businesses for 2010 carried back 5 years
Sect. 2013: General business credits of eligible small businesses in 2010 not subject to alternative minimum tax
Sect. 2014: Temporary reduction in S-Corporation built-in gain recognition period
Sect. 2021: Increased expensing limitations for 2010 and 2011; certain real property treated as Code section 179 property
Sect. 2022: Additional first-year depreciation for 50% of the basis of certain qualified property
Sect. 2031: Increase in amount allowed as deduction for start-up expenditures in 2010
Sect. 2042: Deduction for health insurance costs in computing self-employment taxes in 2010

FAQ's on the SBA's Women-Owned Small Business Federal Contract Program

2011-01-10T12:08:00.000-08:00

When Does the Women-Owned Small Business (WSOB) Program Start?

The WOSB Federal Contract Program will officially start one hundred and twenty days (120) from October 7, 2010, or February 4, 2011.

Who Administers the WOSB Program?
The Small Business Administration (SBA) is charged with implementing and administering the program. This means that SBA publishes regulations that provide the framework for the program, conducts eligibility examinations of WOSB and EDWOSBs, decides protests, conducts studies to determine eligible industries, and works with other Federal agencies in assisting WOSBs and EDWOSBs.

What Are the Laws that Govern the WOSB Program?
On December 21, 2000, Congress enacted the Small Business Reauthorization Act of 2000, Public Law 106-554. Section 811 of that Act added a new section 8(m), 15 U.S.C. 637(m), authorizing Federal contracting officers to restrict competition to eligible Women-Owned Small Businesses (WSOBs) or Economically Disadvantaged Women-Owned Small Business (EDWOSBs) for Federal contracts in certain industries.

What Is the Purpose of the WOSB Program?
The purpose of the WOSBFCP is to enable contracting officers to identify and establish a sheltered market for competition among WOSBs or EDWOSBs for the provision of goods and services to the Federal Government. Restricting competition to WOSBs and EDWOSBs increases their success to compete for and win federal contracts. The program also ensures a level playing field on which such small businesses can compete for Federal contracting opportunities.

How Does my Firm Qualify as a WOSB or EDWOSB?
Qualification as a WOSB - To qualify as a WOSB, a concern must be: a small business not less than 51 percent unconditionally and directly owned and controlled by one or more women who are United States citizens.

Qualification as an EDWOSB - An eligible business must be not less than 51 percent owned by one or more women who are "economically disadvantaged" (i.e. an EDWOSB). However, SBA may waive this requirement of economic disadvantage for industries in which WOSBs are "substantially underrepresented." The ownership of the business must be direct as defined in (13 CFR 127.201(b) Requirement for unconditional ownership.

There are additional requirements for qualification that can be found on the SBA's website.

What Does It Mean To Be Economically Disadvantaged?
An Economically Disadvantaged Women-Owned Small Business (EDWSOB) is a small business concern that is at least 51 percent directly and unconditionally owned and controlled by one or more women who are citizens (born or naturalized) of the United States and who are economically disadvantaged. The EDWOSB automatically qualifies as a women-owned small business eligible for the WOSB Program. A woman is presumed economically disadvantaged if she has a personal net worth of less than %750,000, her adjusted gross yearly income averaged over the three years preceding the certification does not exceed $350,000, and the fair market value of all her assets (including her primary residence and the value of the business concern) does not exceed $6 million.

What Criteria Enables Contracting Officers to Restrict or Set-Aside Contracts for WOSBs?
In order to restrict or set-aside contracts for WOSBs or EDWOSBs, the contracting officer must:

1. A contracting officer may restrict competition in industries where SBA has determined that WOSBs or EDWOSBs are underrepresented or substantially underrepresented in Federal procurement. Based upon analysis, SBA will designate by NAICS Industry Subsector Code industries where WOSBs are underrepresented and substantially underrepresented.

2. Have a reasonable expectation that two or more EDWOSBs or WOSBs will submit offers for the contract;

3. The contract award price must not exceed $5 million in the case of manufacturing contracts and $3 million in the case of all other contracts;

4. The contract can be awarded at a fair and reasonable price.

Where Can I Find the List of Eligible Industry Codes?
A complete listing of the Eligible Industry Codes for the WOSBFCP can be found on the SBA's website at http://www.sba.gov/wosb. You may also contact the SBA's Office of Government Contracting Area Offices of the District Offices to obtain a list of eligible Industry Codes.

Am I Required to Self-Certify as a WOSB?
WOSBs and EDWOSBs must self-certify their status in the Central Contractor Registration (CCR) and the On-Line Representations and Certifications Application (ORCA) as other small businesses do. You must also submit documents to the WOSB Program Repository. If the Repository is unavailable, documents must be submitted to the Contracting Officer if the WOSB or EDWOSB is selected as the apparent successful offeror. If someone falsely self-certifies, misrepresents its status as a WOSB or EDWOSB or provides false information to the Government, the SBA or other Federal agency may propose to suspend and debar you pursuant to the procedures set for the the FAR, 48 CFR 9.4. In addition, other penalties for criminal activities may be imposed.

What Are Eligibility Examinations?
An eligibility examination is the formal process through which SBA verifies the accuracy of any certification made or information provided as part of the certification process or in connection with an EDWOSB or WOSB contract. An eligibility examination can be conducted at any time and is not tied to a particular solicitation or contract award. The statute also gives SBA the authority to conduct random eligibility examinations of WOSBs and EDWOSBs to minimize fraud and abuse.

How long can my company participate in the WOSB Program?
There is no term limit on program participation. You can receive WOSB Program contracts as long as you are eligible for the program and have met all of the requirements set forth in the regulations.

Who Do I Contact for Assistance with the WOSB Program?
For assistance, you may contact the SBA Answer Desk at:
1-800-U-ASK-SBA (1-800-827-5722)

For specific questions about WOSB set aside contracts, you may contact the Federal agency contracting officer that is responsible for the contract and/or named in the contract documents. You may also visit SBA's WOSBFCP web page at http://www.sba.gov/wosb for more information about the program.

Season's Greetings from NWWBC

2010-12-22T14:15:00.001-08:00

IRS Updates & News Releases

2010-09-03T18:18:00.000-07:00

HIRE Act Archived Webinar Now Available
http://www.visualwebcaster.com/IRS/69705/event.html
This webinar was originally presented on July 8, 2010. The topic was the HIRE payroll tax exemption and retention income tax credit. The webinar covered who qualifies as an eligible individual for each benefit, what businesses may claim each benefit, and how businesses can claim the HIRE benefits.

IRS Removes Debt Indicator for 2011 Tax Filing Season
http://www.irs.gov/newsroom/article/0,,id=226310,00.html
Starting with next year’s tax filing season IRS will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs). The IRS has been reviewing refund settlement products, such as RALs and Refund Anticipation Checks (RACs), as part of the Return Preparer Review released in January. RALs are loans secured by a taxpayer’s anticipated tax refund. Currently, tax preparers who electronically submit a client’s tax return receive in the acknowledgment file an indication of whether an individual taxpayer will have any portion of the refund offset for delinquent tax or other debts, such as unpaid child support or delinquent federally funded student loans. This acknowledgment is known as the debt indicator, and is used as an underwriting tool for RALs.

“As we prepare for tax season every year, we look at past practices and consider whether they still make sense. We no longer see a need for the debt indicator in a world where we can process a tax return and deliver a refund in 10 days,” IRS Commissioner Doug Shulman said. “We encourage taxpayers to use e-file with direct deposit so they can get their refunds in just a few days. Refund Anticipation Loans are often targeted at lower-income taxpayers. With e-file and direct deposit, these taxpayers now have other ways to quickly access their cash.”

IRS Releases Proposed Regulations Related to Fees for Preparer Tax Identification Numbers
http://www.irs.gov/newsroom/article/0,,id=225875,00.html
The Internal Revenue Service today released proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). Proposed regulations that were issued in March would require certain tax return preparers to obtain a PTIN. The IRS is working to finalize those proposed regulations, which are the first of a series of steps planned to increase oversight of federal tax return preparation.

The proposed regulations (REG-139343-08) would establish a fee of $50, payable to the IRS, to cover technology costs, as well as compliance and outreach efforts associated with the new PTIN program. The proposed regulations would also provide for an additional fee (expected to be substantially lower than $50) to be charged by the third-party vendor chosen to operate the new online system. That fee amount is expected to be announced soon, as well as additional details about the launch of a new online application system. These fees could change in future years as program costs are reevaluated.

IRS Offers One-Time Special Filing Relief Program for Small Charities; Oct. 15 Due Date to Preserve Tax-Exempt Status
http://www.irs.gov/newsroom/article/0,,id=225959,00.html
Small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program. The IRS posted on a special page of IRS.gov the names and last-known addresses of these at-risk organizations, along with guidance about how to come back into compliance. The organizations on the list have return due dates between May 17 and Oct. 15, 2010, but the IRS has no record that they filed the required returns for any of the past three years. Two types of relief are available for small exempt organizations — a filing extension for the smallest organizations required to file Form 990-N, Electronic Notice (e-Postcard) , and a voluntary compliance program (VCP) for small organizations eligible to file Form 990-EZ, Short Form Return of Organization Exempt From Income Tax.

Six Tax Tips for New Business Owners
http://www.irs.gov/newsroom/article/0,,id=172970,00.html
Are you opening a new business this summer? The IRS has many resources available for individuals that are opening a new business. See the article for six tax tips the IRS wants new business owners to know, such as tips on the different types of business entities, general types of business taxes, when an Employer Identification Number is needed, recordkeeping, and choosing an accounting period and method.

Seven Things to Know about the Taxpayer Advocate Service
ttp://www.irs.gov/newsroom/article/0,,id=226047,00.html
The Taxpayer Advocate Service is an independent organization within the Internal Revenue Service. TAS helps taxpayers who are experiencing economic harm such as not being able to provide necessities like housing, transportation, or food, taxpayers who are seeking help in resolving problems with the IRS, and those who believe an IRS system or procedure is not working as it should.

Top 10 Things Every Taxpayer Should Know about Identity Theft
http://www.irs.gov/newsroom/article/0,,id=211493,00.html
Taxpayers need to be careful to protect their personal information. Identity thieves use many methods to steal personal information and then they use the information to file a tax return and get a refund. See the full article for 10 things the IRS wants you to know about identity theft so you can avoid becoming the victim of an identity thief.

Do You Need to Amend Your Return?
http://www.irs.gov/newsroom/article/0,,id=172656,00.html
If you forgot to include some income or to take a deduction on your tax return – you can correct it by amending your tax return. In some cases, you do not need to amend your tax return. The Internal Revenue Service usually corrects math errors or requests missing forms – such as W-2s or schedules – when processing an original return. In these instances, do not amend your return. See the article for situations where you should file an amended return.

Recent Articles from e-News for Small Businesses

National Taxpayer Advocate issues mid-year report to Congress
The National Taxpayer Advocate mid-year report to Congress expresses concern about the new information reporting burdens facing small businesses and certain IRS collection practices. IR-2010-83 has more information.

Resources for small businesses
The IRS.gov Small Business Resources section offers links to a broad range of information from federal and state agencies.

IRS.gov checklists for small businesses
Checklists provide the basic steps to follow when:
Starting a business
Closing a Business

Understanding an IRS notice or letter
The IRS Letters and Notices video provides an overview of how to respond to written contacts from the IRS.
Related link:
Understanding Your IRS Notice or Letter

Online payment agreement application
Paying taxes in full and on time avoids unnecessary penalties and interest. However, if you cannot pay your taxes in full you may request a payment agreement.
Individuals who owe $25,000 or less can use this online application to request a payment agreement.

Small Business Administration centers help small businesses
SBA Small Business Development Centers offer one-stop assistance to individuals and small businesses by providing a wide variety of information and guidance in branch locations.

Subscribe to e-News for Small Businesses
If you would like to receive e-News for Small Businesses, please visit this link to subscribe:
http://www.irs.gov/businesses/small/content/0,,id=154826,00.html

Recommend e-News for Small Businesses
If you already receive e-News for Small Businesses, you can share it with a business acquaintance, colleague or employee. Just forward this link to them to view a sample edition and subscribe.

Webinar on SBA Disaster Recovery Assistance For Business Owners

2010-08-20T10:38:00.000-07:00

WASHINGTON – How do you apply for a U.S. Small Business Administration disaster loan? What are the loan limits? Can the SBA disaster loan help with those losses not covered by your insurance?

Get answers to those and other questions during a webinar on Understanding Disaster Assistance Funding with the SBA hosted by Agility Recovery Solutions on Tuesday, August 24 at 2 p.m., EDT. During the live, interactive webinar James Rivera, SBA’s associate administrator for the Office of Disaster Assistance will explain how the loan program works, how a disaster declaration is made, and the steps to take to apply for a loan.

SBA has partnered with Agility Recovery Solutions to offer business continuity strategies for small business owners via their “PrepareMyBusiness” website (http://www.preparemybusiness.org/). Visit the website to access previous webinars, and to learn more about disaster preparedness.

Since 1953, the SBA has provided more than $48 billion in disaster recovery assistance to 1.9 million homeowners, renters and businesses of all sizes in the form of long-term, low-interest loans.

WHO: James Rivera, SBA Associate Administrator, Office of Disaster Assistance

WHAT: The Understanding Disaster Assistance Funding with the SBA webinar will begin with a presentation by Rivera on SBA’s disaster assistance program, to be followed by an online question and answer session.

WHEN: 2:00—3:00 p.m. EDT

HOW: Register in advance for Understanding Disaster Assistance Funding with the SBA by visiting Agility’s “Prepare My Business” website at www.preparemybusiness.org/education.

You're Invited to the Washington Small Business Fair 2010

2010-07-19T11:47:00.000-07:00

One day, one place

Learn what you need to run a business

Come to the 14th annual Washington Small Business Fair – learn from the experts how to form and run a successful business. Biz Fair 2010 will take place on Saturday, September 25, 8:00 a.m. to 3:30 p.m. at Renton Technical College, 3000 NE 4th Street, in Renton. Connect with 30 federal, state and local government agencies, and business and trade associations to get the information you need. Sharpen your skills - attend seminars that cover important, up-to-date topics for all stages of business ownership. Savvy business experts share their knowledge and real-life experiences with you. The fair is free, with plenty of free parking and no advance registration. Spend the day or just a few hours – it’s well worth your time! Visit http://www.bizfair.org/ for more information and find us on Facebook.

2010 FREE BizFair Brochure is now available!

Download it here.

Disaster Assistance Available for Small Businesses

2010-06-23T13:23:00.000-07:00

Sacramento, CA – Small, non-farm businesses in 11 Washington counties are now eligible to apply for low-interest disaster loans from the U. S. Small Business Administration (SBA). “These loans offset economic losses because of record low temperatures and freezing conditions that occurred in the following primary counties from October 10, 2009 through October 13, 2009,” announced Alfred E. Judd, Director of SBA’s Disaster Field Operations Center ‑ West.

Primary Washington counties: Chelan, Douglas and Okanogan;
Neighboring Washington counties: Ferry, Grant, King, Kittitas, Lincoln, Skagit, Snohomish and Whatcom

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Judd said.

Small, non-farm businesses, small agricultural cooperatives and most private, non-profit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4%, a maximum term of 30 years, and are available to small businesses and most private, non-profits without the financial ability to offset the adverse impact without hardship,” Judd said.

By law, SBA makes EIDLs available when the U. S. Secretary of Agriculture designates an agricultural disaster. Secretary Tom Vilsack declared this disaster at the request of Governor Christine Gregoire.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency (FSA) about the U. S. Department of Agriculture (USDA) assistance made available by the Secretary’s declaration.

Information and application forms are available from SBA’s Customer Service Center by calling (800) 659‑2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877‑8339. Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

The deadline to apply for these loans is February 15, 2011.

For more information, visit SBA’s Web site at www.sba.gov/services/disasterassistance.

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841

Release Date: June 22, 2010 Media Contact: Richard Jenkins

Release Number: WA 12209-01 Phone: (916) 735-1500

IRS News and Updates (June 2010)

2010-06-16T14:07:00.000-07:00

Recent Legislation Offers Special Tax Incentives for Small Businesses to Provide Health Care, Hire New Workers
http://www.irs.gov/irs/article/0,,id=223909,00.html
The Internal Revenue Service encourages small businesses to take advantage of tax-saving opportunities included in recently enacted federal legislation. A variety of business tax deductions and credits were created, extended and expanded by the American Recovery and Reinvestment Act of 2009 (ARRA), this year’s Hiring Incentives to Restore Employment (HIRE) Act and the Affordable Care Act. Because some of these changes are only available this year, eligible businesses only have a few months to take action and save on their taxes. See the full article for a rundown of some of the key provisions.

IRS Offers Details on New Small Business Health Care Tax Credit http://www.irs.gov/newsroom/article/0,,id=223577,00.html
The Internal Revenue Service today issued new guidance to make it easier for small businesses to determine whether they are eligible for the new health care tax credit under the Affordable Care Act and how large a credit they will receive. The guidance makes clear that small businesses receiving state health care tax credits may still qualify for the full federal tax credit. Additionally, the guidance allows small businesses to receive the credit not only for regular health insurance but also for add-on dental and vision coverage.
Notice 2010-44 provides detailed guidelines, illustrated by more than a dozen examples, to help small employers determine whether they qualify for the credit and estimate the amount of the credit. The notice also requests public comment on issues that should be addressed in future guidance.

Included in the Affordable Care Act approved by Congress in March and signed into law by the President, the small business health care tax credit, which is in effect this year, is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have.

In general, the credit is available to small employers that pay at least half the cost of single coverage for their employees in 2010. The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ moderate- and lower-income workers.

More information about the credit, including a step-by-step guide and answers to frequently asked questions, is available on the Affordable Care Act page.

Form to Claim Payroll Tax Exemption for Hiring New Workers Now Available
http://www.irs.gov/newsroom/article/0,,id=223606,00.html
The Internal Revenue Service has issued the newly revised payroll tax form that most eligible employers can use to claim the special payroll tax exemption that applies to many new workers hired during 2010. Designed to encourage employers to hire and retain new workers, the payroll tax exemption and the related new hire retention credit were created by the Hiring Incentives to Restore Employment (HIRE) Act signed by President Obama on March 18. Employers who hire unemployed workers this year (after Feb. 3, 2010, and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from the employer’s share of Social Security tax on wages paid to these workers after March 18. This reduction will have no effect on the employee’s future Social Security benefits. The employee’s 6.2 percent share of Social Security tax and the employer and employee’s shares of Medicare tax still apply to all wages.

In addition, for each qualified employee retained for at least a year whose wages did not significantly decrease in the second half of the year, businesses may claim a new hire retention credit of up to $1,000 per worker on their income tax return. Further details on both the tax credit and the payroll tax exemption can be found in a recently-expanded list of answers to frequently-asked questions about the new law now. Form 941, Employer’s QUARTERLY Federal Tax Return, revised for use beginning with the second calendar quarter of 2010, will be filed by most employers claiming the payroll tax exemption for wages paid to qualified employees. The HIRE Act does not allow employers to claim the exemption for wages paid in the first quarter but provides for a credit in the second quarter. The instructions for the new Form 941 explain how this credit for wages paid from March 19 through March 31 can be claimed on the second quarter return.

IRS Accepting Applications for Low Income Taxpayer Clinic Grants
http://www.irs.gov/newsroom/article/0,,id=224069,00.html
The Internal Revenue Service has announced the opening of the 2011 Low Income Taxpayer Clinic (LITC) grant application process. Applications must be submitted no later than July 16, 2010. The LITC grant program is a federal program administered by the Office of the Taxpayer Advocate at the IRS. The LITC program serves individuals who have problems with the IRS and whose incomes do not exceed 250 percent of the Federal Poverty Guidelines. The LITC program also provides outreach and education to taxpayers who speak English as a second language (ESL). LITCs are independent from the IRS. Most LITCs can provide representation before the IRS or in court on audits, tax collection disputes and other issues for free or for a nominal fee. Many clinics provide multilingual information about taxpayer rights and responsibilities. Under the LITC grant program, the IRS awards matching grants of up to $100,000 per year to qualifying organizations to develop, expand or maintain low income taxpayer clinics.

Recent Articles from e-News for Small Businesses
Income from fishing
The Fishing Tax Center provides links to the most common topics in the fishing industry including recordkeeping guidelines for fishermen.

Applying for an EIN requires identification of responsible party
All applications for an Employer Identification Number must clearly identify the applicant’s true owner.
New Headliner Volume 297 provides a detailed explanation of who is considered a responsible party when applying for an EIN.

Should you be making estimated tax payments?
Taxpayers with income that is not subject to withholding may have to make estimated tax payments four times a year.
You generally have to make estimated tax payments if you expect to owe tax, including self-employment tax, of $1,000 or more when you file your return.

Therapeutic Discovery Project Program
This new program created by the Affordable Care Act will provide tax credits and grants to small firms that show significant potential to produce new and cost-saving therapies, support jobs and increase U.S. competitiveness. Companies may submit applications for certification June 21-July 21.

Related links:

IRC Section 179 increase extended
A qualifying taxpayer can choose to treat the cost of certain property as an expense instead of depreciating it over several years.
Recent legislation extends the dates for expensing depreciable business assets.
IR-2010-65 Interest Rates Remain the Same for the Third Quarter of 2010

Tax relief in disaster situations
With the severe storms and flooding this spring some victims may qualify for tax relief that includes postponed filing dates and penalty waivers.

Good planning can help small businesses recover from a disaster
Audio presentations offer tips to stay in business after a major disaster:

Continuity Planning and Other Tips to Stay in Business after a Major Disaster
Insurance Coverage and Other Emergency Planning Tips to Help Your Business Survive a Major Disaster
Recordkeeping and Reconstructing Business Records to Help Your Business Survive a Major Disaster

Subscribe to e-News for Small Businesses
If you would like to receive e-News for Small Businesses, please visit this link to subscribe: http://www.irs.gov/businesses/small/content/0,,id=154826,00.html

An Open Letter from the SBA Administrator Karen Mills regarding the Affordable Care Act

2010-06-02T11:23:00.000-07:00

Dear Small Business Owner,

For decades, access to affordable health insurance has been the number-one concern of small business owners. To help you address that concern and provide quality, affordable coverage for your employees, the new Affordable Care Act gives you a number of new tools and benefits.

The most immediate benefit you should know about is the tax credit to help you pay for up to 35 percent of your employee premiums starting this tax year. An estimated 4 million small businesses may qualify for these tax credits, totaling about $40 billion over the next 10 years. Go here to learn more about the tax credit, including new information that explains how this federal credit is in addition to state-level credits you might receive and how dental and vision coverage are also eligible for the federal credit.

The Affordable Care Act also included reporting requirements if you pay another business $600 or more starting with 2013 filings. Small business groups have voiced concerns about the possible burden this places on people like you. That’s why the IRS is already planning to exempt from this requirement your transactions that use credit and debit cards. Also, the IRS, SBA and others in the Administration are looking for additional ways to minimize burdens and avoid duplicative reporting. We welcome your comments and input as we move forward together to address implementation issues under the new law.

Over the last 16 months, this Administration has taken steps to provide tax relief that put more money in the hands of small business owners like you – including write-offs for new equipment, credits for hiring unemployed workers and capital gains exclusions for small business investors. We know that sensible tax relief like this will help you grow your business, create new jobs, and continue drive America’s economic recovery.

With warm regards,

Karen Mills

http://www.sba.gov/acaletter/

The Best Industries for Starting a Business In 2010

2010-05-26T13:10:00.000-07:00

This year's burgeoning industries include interactive technology (from mobile app design to tech-savvy translation), wellness (healthy beverages), and little luxuries, such as baked goods.

By Christine Lagorio, Tamara Schweitzer and Josh Spiro

May 24, 2010
Note: This article was originally published on INC.

Congratulations: You have survived the recession. Now what? If you have ever had the urge to start your own business, now may be a good time to make a move.

To help identify the most promising industries for start-ups, a team of Inc. reporters hit the phones and scoured the data – from the Bureau of Labor Statistics and from private research groups such as Sageworks, IBISWorld, and AnythingResearch.com. Some of the industries we have identified may surprise you. Start-ups that provide a measure of reassuring comfort in our newly cost-conscious era are doing particularly well. Call it the cupcake factor. In addition to bakeries, these sectors include hobby and craft shops, businesses that sell musical instruments and online vintage clothing boutiques. Then there are the ever-expanding storage businesses that supply the space where a lot of that stuff tends to end up. Or, if you are in the mood for more adventure, how about launching a passenger ferry service? Following are 10 of the best industries in which to start a business in 2010.

Environmental Consulting
Helping homes and businesses go green is a $17.75 billion-and-growing industry. Environmental consulting is expected to grow 9 percent a year over the next five years, according to IBISWorld, a publisher of U.S. industry research. This industry is well suited to independent contractors with the skills to install environmentally friendly gear such as wind turbines, solar panels, and green roofs. (Read More)

Mobile Application Design
Sure, iPhones have been around for a while. But with the advent of the iPad, Android phones, and a growing market for mobile apps that work on any Web-enabled phone, there is plenty of fresh territory for programmers, developers, and designers. A particularly hot area for new companies is location-based apps (Loopt and Foursquare are the big ones right now) that work with smartphones' GPS capabilities. This sector has the potential to grow at the same scorching rate at which social media websites such as Twitter and Facebook have grown in recent years. (Read More)

Ferryboats
As highways in and around urban centers become more congested, the old-fashioned ferryboat is making a comeback. Privately run ferry services, as well as tourist excursions, are thriving along the Pacific Northwest coast and on the Great Lakes. Given that new federal spending for building ferryboats and terminals is part of the 2009 economic recovery act, opportunities are expanding. The industry grew 17 percent last year, according to AnythingResearch.com. Barriers to entry, though, are steep. A new Coast Guard-certified ferryboat that carries 150 passengers costs about $6 million. (Read More)

Fun and Games
Craft and hobby supply shops, as well as stores that sell toys and games, have been outperforming the overall retail industry, growing at an annual rate of 9 percent, according to AnythingResearch.com. Musical instruments and sporting goods are also selling briskly. (Read More)

Bakeries
Bakeries, pastry shops, and bagel stores are growing at 5 percent a year, according to AnythingResearch.com. Small indulgences, it seems, are picking up, whereas big purchases such as vacations are not. People are also willing to pay more for gourmet baked goods, says blogger and baked-goods expert Nichelle Stephens. High-end bakeries are "focused on small batches, local suppliers, seasonal ingredients, and lots of creativity when it comes to flavors and combinations," she says. (Read More)

Tea and Healthy Beverages
The top four teamakers control 88 percent of industry revenue, according to IBISWorld. But the remaining 12 percent represents a $264 million market for small, independent manufacturers. The industry averaged annual growth of about 5 percent over the past five years. Healthy beverages with promising growth prospects include antioxidant-rich juices and vitamin-enhanced waters. (Read More)

Crafts and Vintage Clothes Online
Anyone with something to sell – especially in the thriving areas of handmade jewelry and vintage clothing – and a PayPal account can break into this business. Online sales of independent merchants – mostly via sites such as Etsy, eBay, RubyLane, and Supermarket – grew at an annual 6.6. percent over the past five years, according to IBISWorld. (Read More)

Exam Prep and Tutoring
Parents always want their kids to do better on tests. A large number of adults returning to school are also looking for an edge. Given the low barrier to entry, this field is competitive. But if you carve out the right niche, it could be lucrative. The industry, which includes tutoring in such subjects as special education, language, and music, grew about 7 percent last year, according to AnythingResearch.com. (Read More)

Translation Services
The U.S. military, the health care system, and businesses that are expanding overseas are the industry's best customers. Overall, the market grew some 18 percent last year. There are also related tech opportunities in the burgeoning market for mobile on-demand translation via SMS. (Read More)

Self-Storage Leasing
There are already 2.2 billion square feet of self-storage in this country, according to the Self Storage Association. That translates to more than 7 square feet of storage per U.S. resident. But the industry is far from saturated, thanks to the insatiable appetite of American families for acquiring stuff. The $22 billion industry also has low barriers to entry, which helps explain why independent business people own 90 percent of self-storage companies. (Read More)

What Street Vendors Can Teach Us About Bootstrapping and Entrepreneurship

2010-05-26T12:06:00.000-07:00

Vincent Fernando, CFA
Note: This article was originally published on OPEN Forum.

Some people are born wealthy enough to take the massive risk which funding a new business entails. Others get seed money from brilliant pitches, luck or connections.

And then, there's the rest of us.

Funding a business, or more precisely, risking losing money when starting a business, is the single largest obstacle for most entrepreneurs. Even good ideas can take time to fine-tune or pan out.

That's why I have the most respect for the 'street-stall entrepreneur' one finds in developing countries. This is the individual who starts out with absolutely nothing, and shamelessly sells any product they can from the street to make his living.

Every day people pass this individual on their way to work, seeing them as nothing more than a poor and desperate punter.

But, there are many cases where the street-stall entrepreneur doesn't let it end here. Over time, this individual rigorously ramps up their business, with no resources but motivation and determination, into a larger, more successful enterprise.

These kinds of people conduct the most raw, basic form of entrepreneurship – struggling to make money while their finances hang by a thread. And I think a lot can be learned from them.

Here are six points every entrepreneur can learn about bootstrapping from these self-made street-stall entrepreneurs.

1. As a micro-entrepreneur, it's crucial to first establish a core cash flow. Don't even think you're 'in business' until you're cash flow positive, even if you have some savings. So, whatever the revolutionary product or service you one day wish to sell, in the beginning it's alright to make extra money by going out and doing something else. This could include taking a part-time job that some might find insulting, or selling products for a third-party marketing firm.

2. But it's okay to avoid getting tied up by a long-term full-time job position if it's going to prevent you from devoting your all to your business. This one is tricky: you need cash flow, but you also need freedom and spare time to invest in your own project. The street-stall entrepreneur knows he could go and find financial security as someone's driver , janitor, or security guard. But he doesn't do it unless it's just a short-term stint; he'll do anything before he signs away his freedom.

This restriction should, in fact, make you work harder and succeed faster, by forcing you to hone your sales skills and make you think extremely hard about how to create near-term cash flow for your business. Remember: you can always look for short-term opportunities based on output of cash, rather than full-time employment.

3. Don't be afraid to sell your products before you even have them in stock – or just sell the exact same thing as other established companies, and do it better. When you're starting out, one of the largest unknowns is whether a product or service will even sell. Answer this question by pitching your product or service to people from day one, even if it seems commonplace, or 'isn't in stock'. The worst that can occur is that people say yes, and then you get to rush to make it all happen.

4. Entrepreneurship is all about simply not paying upfront for anything – through revenue share and partnership agreements, generally. It's rare that you would ever want to hire someone expensive or buy an expensive service early on. Either find a way to agree to a revenue-share model of payment, bring them in as a business partner, or learn to do without them until you have sufficient cash flow coming in the door to cover the cost. Remember: cash flow negative means 'out of business' for you. That's the mind set you need in order to survive when you don't have deep pockets.

Bootstrapping is a way of life for these individuals, and we could stand to learn a lot from them. Most importantly, of course: they teach us that, with the right focus and determination, you're never too poor to start a business.

Flickr Creative Commons photo attribution: JimReeves

IRS Will Host A Special Nationwide Open House on Saturday May 15 To Help Small Businesses And Individuals Solve Tax Problems

2010-05-03T13:24:00.000-07:00

WASHINGTON — The Internal Revenue Service will host a special nationwide Open House on Saturday May 15 to help small businesses and individuals solve tax problems.

Approximately 200 IRS offices, at least one in every state, will be open May 15 from 9 a.m. to 2 p.m. local time. IRS staff will be available on site or by telephone to help taxpayers work through their problems and walk out with solutions.

“Our goal is to resolve issues on the spot so small businesses and individuals can put any issues they have with the IRS behind them,” IRS Commissioner Doug Shulman said. “If you have a problem filing or paying your taxes or resolving a tough tax issue, we encourage you to come in and work with us.”

IRS locations will be equipped to handle issues involving notices and payments, return preparation, audits and a variety of other issues. At a previous IRS Open House on March 27, approximately two-thirds of taxpayers requested and received assistance with payments and notices.

So, for example, a taxpayer who cannot pay a tax balance due can discuss with an IRS professional whether an installment agreement is appropriate and, if so, fill out the paperwork then and there. Assistance with offers-in-compromise will also be available. Likewise, a taxpayer struggling to complete a certain IRS form or schedule can work directly with IRS staff to get the job done.

At the March 27 Open House, 88 percent of the taxpayers who came in for help had their issues resolved the same day.

For the State of Washington, the following are the locations for the May 15 Open House:

Each office will be open from 9:00 a.m. until 2:00 p.m. local time.

Everett: 3020 Rucker Ave.
Everett, WA 98201

Seattle: 915 Second Ave.
Seattle, WA 98174

Spokane: 920 W. Riverside
Spokane, WA 99201

Tacoma: 1201 Pacific Ave.
Tacoma, WA 98402

Yakima: 107 S. 7th Street
Yakima, WA 98902

The Open House on May 15 is the first of three events scheduled through the end of June. The next two are planned for Saturday June 5 and Saturday June 26. Details regarding those events will be available soon.

Issue Number: IR-2010-055

U.S. SMALL BUSINESS ADMINISTRATION Offers Government Contracting Briefings For Small Business Owners

2010-04-27T09:57:00.000-07:00

Learn how the SBA helps small businesses compete in the government procurement marketplace.

SEATTLE- The Seattle District Office of the SBA is offering monthly briefings at the downtown Seattle District Office. Briefings will help small business owners who are interested in gaining access to federal and private procurement markets and prepare small firms for procurement and other business opportunities. The focus of the program is to provide information on federal government certifications, such as; 8(a), Hubzone, Veteran/service disabled, Veteran, and women-owned. Information on management and technical assistance resources available to assist small business owners with selling to the government will also be discussed.

The sessions will be conducted by our Business Development Specialists, Seattle District Office. Topics covered:

§ What are the steps in getting ready to sell to the government
§ How does the SBA 8(a) program work
§ What are the other certification programs
§ Who are the technical assistance providers
§ Q & A

Where and When
4th Thursday of each month
April 22, May 27, June 24, July 22, August 26
8:30 – 9:30 am
SBA Seattle District
Education and Training Center
2401 4th Avenue, Suite 450
Seattle, 98121
Call 206-553-7310 to register

The SBA is a federal agency providing financial and business development assistance to startup and existing small businesses. Space is limited; register early to reserve a spot. For more information call 206-553-7310.

SBA Recovery Lending Extended Through May

2010-04-19T11:24:00.000-07:00

Administrator Mills presses for longer-term extension for successful programs

WASHINGTON – President Barack Obama signed legislation yesterday providing $80 million in additional funding to continue important enhancements in the U.S. Small Business Administration’s two key small business loan programs. The enhancements, first made available under the American Recovery and Reinvestment Act, include a higher guarantee on some SBA-backed loans and small business fee relief.

The SBA estimates the $80 million will support about $2.8 billion in small business lending under the 7(a) and 504 programs.

“Small businesses across the country have been able to secure critical financing as a result of the Recovery Act loan provisions and the continued interim funding we’ve received for the program,” said SBA Administrator Karen Mills. “The increased guarantees and reduced fees on SBA loans have generated more than $25 billion in new loans to small business owners and brought more than 1,200 lenders back to SBA loan programs. In fact, the first two quarters of the current fiscal year have been our best two opening quarters ever for the 7(a) program, with more than $7 billion in guaranteed loans. These programs have been successful in helping jump-start our economy, which is why we will continue to work with Congress on a longer term extension of the increased guarantee and reduced fees.

“We also know that small businesses could greatly benefit from the additional tools the President has proposed, including higher SBA loan limits and refinancing for commercial property mortgages, which could help thousands of small businesses avoid potential foreclosure. Small businesses need these improvements to ensure their access to the capital they need to drive economic growth and create jobs in communities all across the country.”

As part of the Recovery Act enacted on Feb. 17, 2009, SBA received $730 million to help small businesses, including $375 million to increase the SBA guarantee on 7(a) loans to 90 percent and to reduce borrower fees on most 7(a) and 504 loans. The funds for these programs were exhausted on Nov. 23, 2009, and an additional $125 million was provided in December. Those funds were exhausted in late February, 2010, and an additional $60 million was provided subsequently. SBA was authorized for an additional $40 million in late March.

Under the new extension SBA may continue to reduce loan fees in its 7(a) and 504 programs and to provide higher guarantee levels on 7(a) loans through May 2010, or until the funds provided under the bill are exhausted.

This extension has no effect on the continued availability of financing under other SBA Recovery Act programs, including SBA’s America’s Recovery Capital (ARC) loan program and the agency’s Microloan program. Recovery Act funding still remains available for both of those programs.

Release Date: April 16, 2010 Contact: Hayley Matz (202) 205-6948
Release Number: 10-15 Internet Address: http://www.sba.gov/news

U.S. SBA and Small Business Development Center (SBDC) Bellingham Offer Lender Roundtable

2010-04-14T11:10:00.000-07:00

Roundtable for small business lenders or technical assistance providers.

BELLINGHAM – Does your lending institution provide small business financing? Are you a technical service provider for small business owners? Has your bank or credit union provided SBA assistance in the past and is interested in starting up again? If so, you are encouraged to attend this free event. Our roundtables cover the following:

 SBA 7(a) loan program updates and developments
 American Recovery and Reinvestment Act Updates
 SBA 504 Program updates and developments
 USDA Lending Program updates
 Technical assistance resources and opportunities
 Plenty of Q & A

Roundtable facilitated by Jennifer Shelton, Certified Business Advisor, SBDC, Bellingham. Featured speakers include; Kim Willis, Ameritrust; Pat Rogers, Evergreen Business Capital; and Elizabeth Rusnak, Northwest Business Development; Tuana Jones, USDA, and Mark Costello, SBA.

Where and When
Thursday, April 15th
10:30 am – 12:00 noon
SBDC Bellingham
115 Unity Street, Suite 101
Bellingham

For more information and RSVP
Linda Laws, SBA
linda.laws@sba.gov
206-553-7065

Mark Costello, SBA
206-553-7312

NWWBC joins the Mukilteo Business Showcase

2010-04-13T14:16:00.000-07:00

You are invited to join the VPanel - Women Entrepreneurs' Toolkit for Success

2010-04-12T14:35:00.000-07:00

Wednesday, April 14, 2010: 2:00 pm ET / 11:00 am PT OR
View at your convenience “on demand” after the show

Women start businesses at twice the rate of men, according to an Ernst & Young report. However, according to that same report, women-owned businesses “historically do not reach the size and scale of businesses owned by men.”

Still, a lot is expected from women entrepreneurs, according to a 2010 Forbes story: “female-owned small businesses, now just 16% of total U.S. employment, will be responsible for creating one-third of the 15.3 million new jobs anticipated by the Bureau of Labor Statistics by 2018.”

It’s clear that a lot of women have the entrepreneurial spirit – but why aren’t more succeeding?

Please join Shift Worldwide for a detailed, interactive, virtual panel discussion into how more women can be successful in starting and leading their business – no matter what industry they are in. After this 90-minute vPanel, attendees will come away with ideas and how-to information they can put into action.

Range of Topics:•Specific tips for business development, operations and other areas that can be implemented immediately
•Challenges that business women face, and how to overcome them
•Characteristics typically unique to men and women that assist and hurt them as entrepreneurs
•Funding advantages women have over men, and how to take advantage of them
•Legal aspects of starting or buying a company that women need to understand

Our Distinguished vPanelists:
•Michele DeKinder-Smith, Founder, CEO Jane Out of the Box, Tampa, FL
◦Michele is a seasoned researcher who has specialized in marketing, consumer and business research for more than 20 years. An entrepreneur, she has interviewed thousands of business owners, and understands the needs of large corporations, government agencies and the female entrepreneur.

•Steven Glaser, Shareholder at The Schroeder Group S.C., Waukesha, WI
◦Steven has more than 15 years experience helping businesses solve legal problems, and providing practical business solutions. He has worked with Fortune 500 companies on complicated and cutting edge matters, and has counseled privately-held businesses, start-ups, limited liability companies on joint ventures, business contract negotiations and related topics.

•Kelly Hoey, President, 85 Broads, NYC Chapter, New York, NY
◦An experienced strategist, networker and mentor, Kelly is responsible business advice and organizing workshops for the Chapter of 85 Broads. She is a sought-after speaker, with recent appearances including a Legal Marketing Association, NYS Bar Association Career Development Conference and the Ms JD Third Annual Conference.

•Esther Jeles, Founder/CEO, Aylet Inc., Chicago, IL
◦Esther is a personal coach, workshop leader, professional speaker and author. She has worked with companies such as Oprah Winfrey’s production company HARPO, Twentieth Century Fox, Chevrolet, YWCA Metropolitan Chicago and others to transform corporate environments into collaborative, inspirational, honorable businesses that produce exciting bottom line results.

vModerator:
•Jennifer Johnson, Member of Executive Management Team of Shift Worldwide, New York, NY

Who Should Attend:
This will be a wide-ranging vPanel that will be of interest to:
•Any woman who wants to start her own business
•Female CEOs, Presidents, COO and VPs
•All female students in MBA programs
•Business and career coaches, consultants and trainers
•VCs, Angel Investors and any investor who wants to indentify successful traits for women entrepreneurs

Schedule (all times in ET):
•1:45pm – 2:00pm: Log on to vPanel (link is provided once you register)
•2:00pm – 2:05pm: Introduction of vPanelists
•2:05pm – 2:45pm: vPanel Discussion
•2:45pm – 3:00pm: Interactive Q&A Session

OR
•View at your convenience “on demand” after the show

**You do not need a Web cam nor will you be required to download special software to participate in this vPanel.

Congratulations to Ms. Carole Butkus, WBC Director, as Washington State Women-In-Business of the Year

2010-04-07T13:33:00.000-07:00

Release Date: April 1, 2010 Media Contact: Carol Andersen (206) 553-7315
Release Number: SDOPR-10-16 Internet Address: www.sba.gov/wa

Carole Ann Butkus

Director, Washington Business Center, Seattle Named Washington State Women-In-Business Champion of the Year

Celebration honoring winners on April 8th, Marion Oliver McCaw Hall, Seattle Center

SEATTLE – The U.S. Small Business Administration’s 2010 Women-in-Business Champion boosts the prospects of the fastest-growing segment of entrepreneurs. “Women entrepreneurs start businesses at twice the national average, so by providing access to counseling, training and financial resources, Carole Butkus tears down barriers commonly faced by this vital group. She knows what it takes to be a successful entrepreneur,” said Calvin Goings Regional Administrator. Carole has worked for early-stage technology companies and a medical practice. She has an MBA from Washington State University. With her husband Pete, she owns two small businesses. She is actively engaged in Belltown Records, an independent record label; and takes an administrative role in the company run primarily by her husband, Butkus Consulting.

Butkus directs the Washington Business Center (WBC) hosted by Community Capital Development (CCD) in Seattle. She and her team are responsible for delivering sensitive and appropriate business assistance and training to clients to support the development of low-income, women-owned and minority business enterprises. To expand outreach, Butkus promotes entrepreneurship at local Chambers of Commerce, business and trade association events, and with government representatives. She lends her insights to suggest solutions to a problem that plagues small businesses and their employees, she recently was appointed to the Washington State Insurance Commissioner's Health Care Reform Realization Committee.

The Washington Business Center is one of three SBA Women’s Business Centers (WBCs) located in Washington State. Women comprise over 60 percent of its client base. Last year, the Center counseled over 400 clients and trained over 3,000 people directly or with the help of resource partners. Through Community Capital Development, WBC clients received loans for over $900,000 with nearly a half million dollars going to woman-owned companies in 2009.

“The WBC has just begun its 12th year of service to women entrepreneurs. Carole proceeds with infectious energy, determination and conviction,” says Nancy Porzio, SBA Seattle District Director. She personally seeks out ways to expand services to businesses in King County, by doing one-on-one counseling in her clients’ offices or in coffee shops. It is commonplace to catch Butkus working long days in order to complete commitments to women's organizations or small business groups. In 2008, Carole implemented a new seven-week training curriculum called "Launch and Grow Your Business.” Since its inception, 163 small business owners - about seventy percent of whom were women - have completed this training. The WBC also offers "Brown Bag" lunch-and-learn seminars free of charge. They are scheduled "ad hoc" when interesting speakers or topics present themselves but occur almost monthly with attendance ranging from 15 to 50 people. Last year the WBC added a computer lab to its toolkit, courtesy of a grant from the Washington State Microenterprise Association.

When the SBA approached the WBC requesting that it partner with the Redmond WorkSource to provide entrepreneurial training to unemployed persons who are looking at starting microenterprises as a form of self employment, Butkus made it happen. WorkSource workshops commenced in 2008 and by January 2009, they had to be moved to a larger classroom and offered twice monthly to meet increased demand.

Butkus has initiated two Business Strategic Growth Teams. The Rainier team consists of all woman-owned businesses and meets in Seattle. The Cascade team consists of over 60% women and meets in a King County eastside suburb. Hand-selected business owners from noncompeting industries operate under non-disclosure agreements due to the sharing of proprietary information at team meetings. The team members serve as an advisory board to each other. Each meeting includes time for training on business-related topics that have included using social media in business; cash flow projections and financial statements; SWOT analysis (business evaluation and matching strengths with opportunities); business valuation; and pricing of products and services.

With commitment and passion, Butkus dedicates her days to advocating on behalf of women in business, going beyond the realm of her professional responsibilities. When it comes to volunteer outreach and marketing efforts, the word “No” is not is her vocabulary. If an organization asks her to speak about women in business, she is there. She will put together a presentation on short notice, working late into the evening or getting up early to make it happen. Butkus maintains open contacts with the Washington State Congressional Delegation and they keep her informed on the pending initiatives affecting women in business. She participates in community outreach activities to ensure that women in business are supported and recognized for their contributions. On a personal level, she works tirelessly to create fair and equal opportunities for women to access counseling, training and capital. This is why she is named 2010 SBA Washington State Women-in-Business Champion.

Our Open House was a Success!!!

2010-03-30T13:01:00.000-07:00

We could not have done it without you -

To Our Guest Speakers:

Rick Cooper
CEO, The Everett Clinic and
Board President, Snohomish County EDC

Nancy Porzio
Regional Director
U.S. Small Business Administration

Joe Marine
Mayor
City of Mukilteo

And, to our
Community Capital Development Family

THANK YOU!!!

Special thank you to the following who have shared their resources to make it more meaningful....

You are invited to our Annual Open House!

2010-03-19T09:55:00.000-07:00

Extension of SBA Recovery Lending Programs Will Support $1.8 Billion in Small Business Lending

2010-03-04T15:40:00.000-08:00

Agency plans to restart Recovery loan approvals on March 10

WASHINGTON – President Barack Obama signed legislation Tuesday extending until March 28 the U.S. Small Business Administration’s ability to provide small business loans that are enhanced with special provisions of the American Recovery and Reinvestment Act (ARRA), including a higher guarantee of SBA-backed loans and a waiver of loan fees normally paid by borrowers.

SBA estimates the additional funding will support about $1.8 billion in small business lending.

New approvals of eligible loans with the higher guarantee and reduced fees made possible by the Recovery Act are expected to resume on March 10. Loan applications from borrowers in SBA’s Recovery Loan Queue will be funded first, followed by new loan applications.

“These key loan programs have been successful in helping jump-start the economic recovery for America’s small businesses,” said SBA Administrator Karen Mills. “The increased guarantee and reduced fees on SBA loans helped put almost $22 billion into the hands of small business owners and brought more than 1,100 lenders back to SBA loan programs. As a result, average weekly loan approvals by SBA have climbed by 87 percent compared to the weekly average before passage of the Recovery Act.

“We will continue working with the President and with Congress to move forward with proposals for a longer extension for these important program enhancements, as well as higher loan limits, refinancing for commercial property loans and other significant ongoing support for small businesses. Small businesses need the changes the President has called for to ensure that they have the tools they need to drive economic growth and create jobs in communities all across the country.”

As part of the Recovery Act, SBA received $730 million, which included $375 million to increase the SBA guarantee on 7(a) loans to 90 percent and to waive borrower fees on most 7(a) and 504 loans. The funds for these programs were exhausted on Nov. 23, and an additional $125 million was provided in December. Those funds were exhausted in late February.

SBA has implemented the Recovery Loan Queue twice before as part of its temporary transitions back to pre-Recovery Act lending. Eligible small businesses, in consultation with their lender, could choose to be placed in the queue for possible approval of a Recovery Act loan if funding became available from loans canceled for a variety of reasons. Currently there are 652 loan requests totaling $230 million in the Recovery Loan Queue.

The extension signed by President Obama authorizes the higher guarantee levels through March 28, 2010, for 7(a) loans. The fee relief is available until the additional funding is exhausted or the end of the fiscal year on Sept. 30, whichever comes first. As was the case in November and again in February, SBA is prepared to transition into a queue system as the funds start to wind down in order to ensure the maximum simulative effect of the programs and disbursement of funds.

For non-Recovery Act 7(a) or 504 loans already funded during the transition period, this extension does not provide a retroactive guarantee or waived fees. Loans that were funded under non-Recovery Act terms cannot be canceled and resubmitted to take advantage of the Recovery Act extension provisions.

This extension does not affect other SBA Recovery Act programs, including the America’s Recovery Capital (ARC) loan program or the agency’s microloans. Recovery Act funding still remains available for both of those programs.

Release Date: March 4, 2010 Contact: Hayley Matz (202) 205-6948
Release Number: 10-06 Internet Address: http://www.sba.gov/news

Northwest Economic Council’s 3rd Annual Alternative Financing

2010-03-04T15:30:00.000-08:00

Business financing starts with your commercial lender... but what if that isn't enough? If you want to find out more about alternative financing options that are available in Whatcom County, come join the 3rd Annual Alternative Financing Seminar.

This is a FREE event, however registration is required.

To register: http://www.nwecon.org/news-a-events/events/upcoming-events

SBA Emerging 200 Program Targets Native American

2010-03-04T15:17:00.000-08:00

Release Date: February 25, 2010
Contact: Darlene Robbins at darlene.robbins@sba.gov

Seattle – SBA Seattle announced today that it will expand the Emerging 200 (e200) Initiative, an executive-level training program for small business owners, to include Native American business owners. Classes commence in April 2010. For information and/or application contact Darlene Robbins at darlene.robbins@sba.gov.

“The e200 initiative will enable top Native American executives to participate in an intensive and comprehensive curriculum. The focus will be on developing growth strategies (3-5 year plans, new markets), accessing new capital to fuel growth, mentoring and other training to target potential contracts in the local and federal government arena. This initiative is designed to accelerate the growth of companies that are poised for sustained expansion,” said SBA Seattle District Director Nancy Porzio.

“Over the last few years e200 has been a catalyst for expanding opportunities for many promising small businesses in underserved communities – in particular those who have been most impacted by these tough economic times,” said Regional Administrator Calvin Goings. SBA Administrator Karen Mills said, “Graduates of the program have increased their revenue, created jobs and helped drive local economic growth in their communities. SBA’s commitment to not only continue, but expand the program, will build on this success and provide even more entrepreneurs in underserved communities with the support, resources and skills to succeed.”

The expansion of e200 to Native American communities coincides with the President’s appearance before Tribal Leaders on November 5th, 2009 in Washington, DC, during which he promised that the Administration would work with the Native American community to build economic prosperity. As the President acknowledged that some of the reservations face unemployment of up to 80 percent and roughly a quarter of all Native Americans live in poverty, he stated his commitment to being “full partners in the American economy … so [their] children and … grandchildren can have an equal shot at pursuing the American Dream.” The expansion of e200 is part of the Administration’s pledge to achieve these goals.

Since its inception, the e200 initiative has identified business owners across the country who show a high potential for growth in underserved markets and provided them with the training, networking, resources and motivation required to expand operations and create jobs.

- more -

To date, more than half of the businesses that participated in e200 have seen an increase in revenue, and nearly two-thirds have created new jobs. Entrepreneurs who have completed the training have secured over $9 million in new financing for their businesses. Increased confidence in applying for government contracts among trainees has resulted in over $1.3 million awarded to participating small businesses.

The nine-month training includes approximately 100 hours of classroom time per participant and provides the opportunity for small business owners to work with experienced mentors, attend workshops and develop connections with their peers, city leaders, and financial community.

For a full list of cities hosting the e200 initiative in 2010 please see below:
Urban Markets
· Jacksonville, Fla.
· Dallas, Texas
· Atlanta, Ga.
· Des Moines, Iowa
· Boston, Mass.
· Baltimore, Md.
· Detroit, Mich.
· Philadelphia, Pa.
· Memphis, Tenn.
· Chicago, Ill.

Native American Communities
· Denver, Colo.
· Albuquerque, N.M.
· Gallup, N.M.
· Portland, Ore.
· Milwaukee, Wis.
· Tucson, Ariz.
· Phoenix, Ariz.
· Oklahoma City, Okla.
· Tulsa, Okla.
· Santa Ana, Calif.
· Seattle, Wash.
· New Orleans, La.

IRS UPDATES

2010-03-04T15:00:00.000-08:00

Free File: Spread the Word with Widgets
http://www.efile.irs.gov/
The Free File program provides free federal income tax preparation and electronic filing for eligible taxpayers through a partnership between the Internal Revenue Service and the Free File Alliance LLC, a group of private sector tax software companies. Many companies offer free or paid state tax preparation and e-filing services. Some companies may not offer state tax preparation and e-file services for all states. Explore which Free File service -- offered exclusively at IRS.gov/freefile — fits your situation: easy-to-use, step-by-step tax preparation software or fillable forms. All taxpayers can use this service.

We have an excellent electronic tool we think you’ll enjoy seeing on your organization’s Web site – and it’s easy to place there. It’s a “Web widget,” a portable, on-screen ad for Free File with a countdown clock that changes daily to let your Web site visitors know how many days are left in the filing season. It also links to more information about Free File on IRS.gov/.

To place the widget on your Web site, just visit http://www.efile.irs.gov, look for the “Tax Season Countdown” ad with the green banner at the top. Click “Get & Share” at the bottom, then “copy code” from the box at the bottom-right. Paste this computer code to your Web site, and let the countdown begin. You can also share the widget on a social networking site, such as Facebook, if you prefer. Just follow the “Get & Share” instructions.

Reminder: Haiti Relief Donations Made Before March 1 Qualify for 2009 Deduction
http://www.irs.gov/newsroom/article/0,,id=218678,00.html
People who give to charities providing earthquake relief in Haiti can claim these donations on the tax return they are completing this season. Taxpayers who itemize deductions on their 2009 return qualify for this special tax relief provision, enacted Jan. 22. Only cash contributions made to these charities after Jan. 11, 2010, and before March 1, 2010, are eligible. This includes contributions made by text message, check, credit card or debit card. The new law only applies to cash (as opposed to property) contributions. The contributions must be made specifically for the relief of victims in areas affected by the Jan. 12 earthquake in Haiti. Taxpayers have the option of deducting these contributions on either their 2009 or 2010 returns, but not both.

Additional Information Regarding Signature Requirements for First-Time Homebuyer Credit Documentation
http://www.irs.gov/newsroom/article/0,,id=219241,00.html
The IRS has provided additional clarification regarding documentation requirements on the First-Time Homebuyer Credit. The IRS encourages buyers seeking the homebuyer credit to sign the settlement statement when they file their tax return -- even in cases where the settlement form does not include a signature line. The IRS recognizes that elements of the settlement document, often a Form HUD-1, may vary from jurisdiction to jurisdiction and may not reflect the signatures of both the buyer and seller. While the Form 5405 instructions indicate that a properly executed settlement statement should show the signatures of all parties, the IRS has clarified that it will accept a settlement statement if it is complete and valid according to local law. In areas where signatures are not required on the settlement document, the IRS encourages the buyer to sign the settlement statement prior to attaching it to the tax return. In situations where the signature of the seller is not on the settlement document, the IRS advises the buyer to still sign the document.
Link: Information on the First-Time Homebuyer Credit

IRS Debunks Frivolous Tax Arguments
http://www.irs.gov/newsroom/article/0,,id=219104,00.html
The Internal Revenue Service today released the 2010 version of its discussion and rebuttal of many of the more common frivolous arguments made by individuals and groups that oppose compliance with federal tax laws. Anyone who contemplates arguing on legal grounds against paying their fair share of taxes should first read the 80-page document, The Truth about Frivolous Tax Arguments. The document explains many of the common frivolous arguments made in recent years and it describes the legal responses that refute these claims. It will help taxpayers avoid wasting their time and money with frivolous arguments and incurring penalties.

COBRA Subsidy Eligibility Period Extended Through February; 15-Months Subsidy Now Available to Those Who Qualify
http://www.irs.gov/newsroom/article/0,,id=218522,00.html
Workers who lose their jobs during January and February may qualify for a 65-percent subsidy on their COBRA health insurance premiums, and these newly-eligible individuals, along with those already receiving the subsidy, can now receive it for up to 15 months, according to the Internal Revenue Service. Created by the American Recovery and Reinvestment Act of 2009, the COBRA subsidy eligibility period was originally scheduled to expire at the end of 2009, and eligible individuals only qualified for the subsidy for nine months. But the Department of Defense Appropriations Act, 2010, enacted on Dec. 19, extended the eligibility period and the maximum duration of COBRA premium assistance.

As a result, workers who are involuntarily terminated from employment between Sept. 1, 2008, and Feb. 28, 2010, may be eligible for a 65-percent subsidy of their COBRA premiums for a period of up to 15 months. Involuntarily terminated employees who meet certain other requirements, and certain family members of those individuals, are referred to as “assistance-eligible individuals.”

Reminder: 2009 Economic Recovery Payment Must Be Verified Through Other Agencies
http://www.irs.gov/newsroom/article/0,,id=204468,00.html
A one-time payment of $250 was made in 2009 to recipients receiving benefits from the Social Security Administration, disabled veterans receiving benefits from the U.S. Department of Veterans Affairs, and Railroad Retirement beneficiaries. Taxpayers who need verification about receipt of the 2009 economic recovery payment should personally contact their respective agency for confirmation, not the IRS, before completing and filing their 2009 tax return in 2010.

AARP FOUNDATION ANNOUNCES 4th ANNUAL WOMEN’S SCHOLARSHIP PROGRAM

2010-03-04T14:29:00.000-08:00

Low-Income 40+ Women in Washington Are Eligible for Scholarships

Applications Being Accepted February 1 through March 31, 2010

Washington - The AARP Foundation has announced a call for entries to its fourth annual Women’s Scholarship Program. The scholarships will provide funds to women 40+ who are seeking new job skills, training and educational opportunities to support themselves and their families. Up to 100 scholarships ranging from $500 to $5,000 will be awarded, depending on financial need and the cost of the education or training program.

“The AARP Foundation is committed to elevating opportunities for women,” said AARP State Director Doug Shadel. “Since its beginning, the program has provided valuable resources that have enabled more than 350 deserving women to have access to the educational tools to advance their professional goals. We are thrilled to be offering the program again this year.”

While many individuals benefit from the work of the AARP Foundation, research shows that women are disproportionately at risk of having insufficient funds in the second half of their lives due to lower earning and different work patterns. The AARP Foundation created the Women’s Scholarship Program in August 2007 to help women 40+ overcome financial and employment barriers by allowing them to participate in education and training opportunities they could otherwise not afford. In 2009, 108 women from all across the country were awarded more than $345,000 in educational scholarships.

Interested applicants can submit their application online beginning February 1, 2010 at www.aarp.org/womensscholarship. The application process closes on March 31, 2010. Scholarships will be awarded in early summer 2010.

Scholarships are available to eligible individuals with moderate to lower incomes and limited financial resources. To be eligible for the scholarships, applicants must:

Be female age 40 or older (as of March 31, 2010);
Be a U.S. Citizen
Be able to demonstrate financial need; and
Be enrolled in an accredited school or technical training program within 6 months of the scholarship award date.

Priority is given to women in three categories: those raising the children of another family member; those in low-paying jobs with no career opportunities and who are missing either a retirement benefit and/or health insurance; and those who have been out of the workforce for more than five years. Scholarships may be used for any course of study at a public or private secondary school, including community colleges, technical schools, and four-year universities. Funds are payable to the institution and may be used to pay for tuition, fees, and books.

Scholarship winners will be chosen by an independent selection committee established by the AARP Foundation. They will be chosen on the basis of financial need, personal circumstances and achievements, educational goals, and the likely impact of the scholarship on their lives and their families and communities.

The scholarship program is made possible by the AARP Foundation with generous support from Wal-Mart Foundation and the AARP Foundation Women’s Leadership Circle cabinet.

AARP Foundation

The AARP Foundation is AARP’s affiliated charity. Foundation programs provide security protection and empowerment for older persons in need. Low-income older workers receive the job training and placement they need to re-join the workforce. Free tax preparation is provided for low- and moderate-income individuals, with special attention to those 60 and older. The Foundation’s litigation staff protects the legal rights of older Americans in critical health, long-term care, consumer and employment situations. Additional programs provide information, education and services to ensure that people over 50 lead lives of independence, dignity and purpose. Foundation programs are funded by grants, tax-deductible contributions and AARP. For more information about the AARP Foundation, please log on to www.aarp.org/foundation.

Haiti Relief Donations Qualify for Immediate Tax Relief

2010-02-01T09:58:00.000-08:00

People who give to charities providing earthquake relief in Haiti can claim these donations on the tax return they are completing this season. Taxpayers who itemize deductions on their 2009 return qualify for this special tax relief provision, enacted Jan. 22. Only cash contributions made to these charities after Jan. 11, 2010, and before March 1, 2010, are eligible. This includes contributions made by text message, check, credit card or debit card. The new law only applies to cash (as opposed to property) contributions. The contributions must be made specifically for the relief of victims in areas affected by the Jan. 12 earthquake in Haiti. Taxpayers have the option of deducting these contributions on either their 2009 or 2010 returns, but not both.

For more information:
http://www.irs.gov/newsroom/article/0,,id=218678,00.html

NWWBC host Community Job Forum

2010-01-07T15:07:00.000-08:00

Community Forum on Job Creation & Economic Growth Questions

From what you have seen, or seen reported about the President’s Jobs Forum on December 3rd, what seems relevant to your community?

Due to lack of media coverage of the 12/3 event, some were not able to add comments to this question. Of those that did, some reported not seeing anything relevant – just good intentions and nothing substantial since then. The restaurant industry has had a 30% drop in revenues in the past two years, and are no longer hiring additional personnel. It seems as though most advertising is now being done through social networking, such as Twitter and Facebook, which affects other service-related companies. Construction, land development and environmental review are impacted and affect all parts of land development, with the cutback in employees. Microsoft has been affected, and The Boeing Company will be moving a major assembly line to an entirely different state, which severely hurts us. There is a race to the top in education, and high School graduation rates are drastically down in Washington State. We have concerns with the educational workforce and the “No Child Left Behind” Act. We are appreciative of the effort, but there is a much larger issue. As a county, we can be proud of the school districts. They are working with a total of 9 school districts to reduce the dropout rate, including online graduation opportunities.
As a whole, we like the variety of attendees at these forums and feel that although each community faces its own unique obstacles and needs, the issues seem universal. Bottom line: we are interested in relevancy, and what is especially relevant to our county is job creation.

What parts of your local economy are working or thriving? What businesses and sectors are expanding and hiring?

Manufacturing in NW Washington is working. The government has given money to schools to educate students and women. Healthcare is strong, and will always be needed. The military has a strong presence in the state, and outside businesses are being attracted to Snohomish County. Aerospace is still strong even with Boeing’s relocation of the 787 line to South Carolina. High tech and technical service jobs are still here, although they do have some funding challenges. We have a variety of resources for companies wishing to go “green,” but technology needs to catch up with green concepts. Attorneys, bankruptcy and appraisers are all thriving. WSDOT is hiring mechanics, as well as police and government agencies. There is also an increased interest in the Bio Med industry, although funding has substantially decreased. We have solid worker retraining programs through Worksource and Employment Security Department, though some highly specialized individuals are struggling to get interviews. Some are seeing an increase in age discrimination playing a role in the hiring process. Retail and hospitality should increase with the 2010 Olympics; and public (i.e. State) construction and agriculture are also faring well. There is still a strong entrepreneurial spirit in this State.

What parts of your local economy are not working or thriving? What businesses and sectors have been hit the hardest? What are people struggling with the most?

Areas hit the hardest are real estate, the restaurant industry and higher education institutions. Retail and newspapers are also struggling. Youth jobs are not there because they are lacking education and experience, and many are being taken by the older, less skilled workforce. Mature workers and college graduates are hurting for jobs. Individuals have to volunteer just to get adequate work experience and/or upgrade their skill levels. Many job seekers are overqualified for fewer available jobs. Employers don’t like to higher overqualified staff for fear of fast turn-over. Private construction companies (commercial and residential) and financial institution jobs are taking a hard hit. There seems to be no “living wage jobs.” Other areas being affected are veterinary services, dental, the cosmetics industry, the Vision field of the healthcare industry and auto dealerships. In addition to that, the timber, maritime (boating), and the private capital/liquidity industries are also taking a major hit. Smaller businesses that compete against the larger chain stores are struggling as well.
What people seem to be struggling with the most is financial fear and uncertainty, unemployment, training funds, disposable income, depression, personal credit issues, skill gaps and public service systems and how exactly to access them for assistance.

What are the opportunities for growth in your community? What businesses and sectors seem poised to rebound? What do you see as the “jobs of the future”?

Businesses that are poised to rebound are the service industries, remodeling contractors and sub-contracting, financial education and healthcare (specifically nursing). Information Technology and other high tech jobs, green companies and recycling will also do well. Alternative energy and Bio Tech jobs, as well as aerospace, manufacturing, engineering are also strong possibilities for rebound opportunities. Composites and material science jobs seem to be on the increase for the future.

Opportunities for growth in our community include adding commercial flights to Paine Field, water quality testing and new, low-impact development techniques. There are several bio fuel companies that are interested in Snohomish County. The Rapid Transit Expansion is another solid opportunity for growth and expansion in our community.

What are the obstacles to job creation in your community? What could make local businesses more likely to start hiring?

Financing needs to be freed up, and tax credits need to be offered. Banks are to begin more lending, but the governmental restrictions are preventing loans from being streamlined. Retraining is needed and should be provided free of charge for those doing low-impact development, green construction and coming up with energy efficiency ideas. The Washington State constitution limits companies from coming to Washington State, the tax rates are too high, and there are limits on investments. Our state and local governments are significantly underfunded, there is no liquidity, and no tax incentives offered. We need education for hiring employees and understanding human resource and labor laws. There are economic changes and environmental regulations and no demand for goods and services.

What might assist in making local businesses begin hiring comes down to 1) an upswing in the economy, and 2) a skilled workforce that is flexible to meet the needs of changing business in America.

What other issues and ideas should the President consider?

We would like the President to look at mandatory furloughs, tax breaks/tax incentives, offering funding for Green ideas that help our environment, and the fact that there are too many restrictions on services provided (i.e. money for the homeless). The idea of hosting a Banking forum, where business owners could talk and ask questions of the banks would be helpful and informative. A Green conference is needed to bring together all aspects of a nation going “green.” The restrictions on the money given from the ARC Loan program through the SBA need to be minimized. It was great in theory, but in practice many businesses were not able to receive the funding. The documentation alone is difficult to read, and businesses often feel they need training just to read through it.

The higher educational system needs to be revamped. We are trying to compete within a more technology savvy and higher educated workforce globally, and retraining for students needs to be addressed. Our children cannot afford college, and the concept of performing some type of community service in lieu of tuition (not burdensome student loans) needs to be explored. If our children do take out loans to pay for college, they come out of school buried in debt, with little jobs open and have to take whatever they can to repay tuition. We cannot compete globally, like this.

In addition to this, the government should reconsider bailing out businesses with bad practices that are doomed to fail.

We're just getting started! Women-owned businesses to generate 5 million new jobs by 2018

2010-01-07T11:38:00.001-08:00

We're just getting started! Women-owned businesses to generate 5 million new jobs by 2018

Posted using ShareThis

CCD Christmas Party 2009

2009-12-22T10:45:00.000-08:00

You are invited to a public Community Job Creation & Economic Growth Forum

2009-12-15T15:24:00.000-08:00

Find information on this Snohomish County area event

Northwest Women’s Business Center is hosting a Community Forum on Job Creation and Economic Growth for the Snohomish County Region, in conjunction with the City of Mukilteo and Mayor Joe Marine. The Event will be hosted at Mukilteo City Hall offices, in the Council Chambers.

As a follow on to President Obama’s December 3rd discussion on job creation and economic growth, communities all across the nation are addressing the issue at the local level. The results of the forum’s efforts, including our identified needs and opportunities, as well as constructive feedback on obstacles to growth in our region will be relayed back to the White House for consideration.

Attendees are being invited from all industry sectors including, government, non-profit, small, medium and large companies, education faith-based agencies and local chambers of commerce. This event is open to the public and we look forward to a varied list of attendees representing all aspects of our community.

NWWBC client celebrates grand opening in Everett 12/16/09!

2009-12-03T16:29:00.000-08:00

Janell Farnsworth has opened Janell's Gluten-Free Market at 7024 Evergreen Way in Everett.
Grand Opening info here

Reading labels becomes a way of life for people suffering from celiac disease.

The condition, caused by a reaction to gluten in wheat and other grains, renders them unable to absorb nutrients in many kinds of food. And so grocery shopping turns into a reading-glasses-required event that can end in expensive special orders — or a cart full of fruits and vegetables.

Janell Farnsworth thinks she found a way to make that grocery store experience easier for people with gluten intolerance.

She opened Janell's Gluten Free Market last week. The market lives in a small but welcoming storefront next to an insurance office on Evergreen Way in Everett.

Pita chips, candy, brownie mix and even bread fill the shelves. And every single package contains a gluten-free product.

That means there's no label-reading required.

Farnsworth just recently realized what that means to those with celiac disease. She was diagnosed with gluten-intolerance last year after becoming ill on a tour of duty with the National Gard.

Eating gluten-free was a daunting task, she said.

“I don't bake, I don't cook,” Farnsworth said. “Coming up with a regular recipe was hard enough for me, let alone a gluten-free recipe.”

She started drafting a business plan for the market earlier this year. It opened last Tuesday, amidst a flurry of deliveries, phone calls and drop-in browsers.

So far, the business has no employees beside Farnsworth. Her mother, stepfather and friends staff the store for now.

And her young son occasionally runs out from the back room for homework help. (“Grandma, what's four times seven? I hate these!”)

About one in 133 people suffer from some degree of gluten intolerance, according to the Celiac Disease Foundation.

That's why just off to the side of the checkout desk, there's an area with chairs and tables — the reading room, Farnsworth said. She wants to create a gathering space where people can learn about living gluten-free.

Already, the bookshelves are filling up with gluten-free recipe books and support books.

A few days before the store opened, a man came to the door. Farnsworth recalled that he just stopped to chat for a while about his own struggle with celiac disease — and then he said something that struck her as poetic.

“I guess there's finally enough of us to have a store,” he said.

Read Amy Rolph's small-business blog at www.heraldnet.com/TheStorefront. Contact her at 425-339-3029 or arolph@heraldnet.com.

Aid available for small businesses in WA that depend on farms and ranches

2009-12-03T16:20:00.000-08:00

Release Date: December 3, 2009
Media Contact: Richard Jenkins
Phone: (916) 735-1500
Release Number: WA 11957-01
Disaster Assistance Available for Small Businesses

Sacramento, CA – Small, non-farm businesses in 18 Washington counties are eligible to apply for low-interest disaster loans from the U. S. Small Business Administration (SBA). “These loans offset economic losses because of reduced revenues caused by a drought that occurred in the following primary Washington counties beginning January 1, 2009,” announced Alfred E. Judd, Director of SBA’s Disaster Field Operations Center West.

Small businesses in the following primary and neighboring counties may apply for working capital loans to offset economic losses that are attributable to the disasters.

Primary Washington counties: Chelan, Douglas, Ferry, Grant, Lincoln, Okanogan

Neighboring Washington counties: Adams, Benton, Franklin, King, Kittitas, Skagit, Snohomish, Spokane, Stevens, Whatcom, Whitman and Yakima

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Judd said.

Small, non-farm businesses, small agricultural cooperatives and most private, non-profit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

“Eligibility for these working capital loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4%, a maximum term of 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship,” Judd added.

By law, SBA makes EIDLs available when the U. S. Secretary of Agriculture designates an agricultural disaster. Secretary Tom Vilsack declared this disaster at the request of Governor Christine Gregoire.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency (FSA) about the U. S. Department of Agriculture (USDA) assistance made available by the Secretary’s declaration. However, in drought disasters nurseries are eligible for SBA disaster assistance.

Information and application forms are available from SBA’s Customer Service Center by calling (800) 659 2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877 8339.

Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

The deadline to apply for these loans is July 26, 2010.

For more information, visit SBA’s Web site at www.sba.gov/services/disasterassistance.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841

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Report on the Status of Franchises in Snohomish County, Oct 2009

2009-11-24T23:45:00.000-08:00

Thinking of starting a franchise in Snohomish County? You might want to add this local article to your research:

http://www.heraldnet.com/article/20091014/BIZ/910139984/-1/BIZNLETTER&template=biznletter

Next Small Business Success Series dates announced

2009-11-23T15:11:00.000-08:00

The next session of our Small Business Success Series class is starting Wednesday, January 13, 2010. This series will be held at our office location in Mukilteo, from 2:30p.m. - 5 p.m. for the first five Wednesdays.

For SEAP participants the last three weeks of the program will allow for completion of the mandatory business plan (like a final project to show the training was completed.)

Participants not enrolled through SEAP are not required to complete a business plan at the end of the first five weeks, but we suggest that this is a great time to do so. Our Business Assistance Counselor will be available to help you with questions during those last three of the eight program weeks, so this is a definite part of the value of this class series.

For more information on NWWBC business training opportunities, visit our online calendar.

Small businesses told to prepare for swine flu

2009-09-29T11:02:00.000-07:00

Owners should be prepared to operate with fewer workers as it spreads

http://www.msnbc.msn.com/id/32843712/ns/business-small_business/

WASHINGTON - Federal officials say small business owners should be prepared to operate with fewer employees this fall as swine flu spreads across the country.

The Department of Homeland Security is issuing guidelines on combating swine flu to small businesses, which employ about half the workers in the U.S. The announcement is the latest in a series of recommendations as the federal government braces for a potentially widespread outbreak this fall, which could hurt businesses by keeping workers at home.

The government says small businesses should identify their essential operations and have plans for operating with reduced staffing. Officials also say businesses should consider letting employees work from home if they get sick.

Five Facts about the Home Office Deduction

2009-08-31T13:49:00.000-07:00

With technology making it easier than ever for people to operate a business out of their house, many taxpayers, entrepreneurs and small business people may be able to take a home office deduction when filing their 2009 federal tax return next year.

Here are five important things the IRS wants you to know about claiming the home office deduction.

1. Generally, in order to claim a business deduction for your home, you must use
part of your home exclusively and regularly:

As your principal place of business, or
As a place to meet or deal with patients, clients or customers in the normal course of your business, or
In the case of a separate structure which is not attached to your home, it must be used in connection with your trade or business

For certain storage use, rental use or daycare-facility use, you are required to
use the property regularly but not exclusively.

2. Generally, the amount you can deduct depends on the percentage of your
home that you used for business. Your deduction for certain expenses will be
limited if your gross income from your business is less than your total business
expenses.

3. There are special rules for qualified daycare providers and for persons storing
business inventory or product samples.

4. If you are self-employed, use Form 8829, Expenses for Business Use of Your
Home, to figure your home office deduction. Report the deduction on line 30 of
Schedule C, Form 1040.

5. Different rules apply to claiming the home office deduction if you are an
employee. For example, the regular and exclusive business use must be for
the convenience of your employer.

For more information see IRS Publication 587, Business Use of Your Home, available on IRS.gov or by calling 800-TAX-FORM (800-829-3676).

To get the most timely IRS information, news and products and services, subscribe to e-News on IRS.gov at http://www.irs.gov/businesses/small/article/0,,id=154825,00.html, click “Subscribe Now” at the bottom of the page and enter your e-mail address.

Recovery Act Expands SBA Microloan Program

2009-08-19T11:43:00.000-07:00

New Intermediaries Will Provide Greater Access to Capital for Entrepreneurs

WASHINGTON – With the American Recovery and Reinvestment Act funding an additional $50 million for loans and $24 million for technical assistance, the U.S. Small Business Administration is expanding its Microloan program and increasing access to capital for small businesses across the country.

The program is shifting to funding provided under the Recovery Act now that it has exhausted the regular FY 2009 appropriations for $20 million in loans and $20 million in technical assistance.

With the additional resources, SBA is focused on adding new lenders and encouraging entrepreneurs to seek out SBA-backed microlenders to finance their businesses.

“SBA’s Microloan program provides a critical source of capital for entrepreneurs, including women, low-income individuals and minorities, who often have difficulty obtaining capital to start and grow their businesses,” said SBA Administrator Karen G. Mills. “With these resources, we can put more entrepreneurs and small business owners in a position to succeed and create jobs that will in turn help drive our nation’s economic recovery.”

Since the Recovery Act, SBA has approved eight new applications from lenders to join the Microloan program, and has 15 new loans to microlenders for $10.7 million in Recovery Act funds ready to be disbursed. Of the 15, eight are for new microlenders.

The approved new microlenders are: Vermont Community Loan Fund, Inc. of Montpellier, Vt; Neighborhood Development Center of Saint Paul, Minn.; Cen-Tex Certified Development Corp. of Austin, Texas; The Emperor Organization of Tallahassee, Fla.; Staunton Creative Community Fund, Inc. of Staunton, Va.; Lane MicroBusiness (d.b.a. Dev) of Eugene, Ohio; FINANTA (American Street Financial Ser.) of Philadelphia, Pa; and Accion USA, Inc. of New York, N.Y.

SBA’s Microloan Program supports microlenders by providing them with up to $3.5 million in low-cost loans from SBA to finance their lending to small businesses. SBA’s interest rate to microlenders is based on the five-year Treasury rate, with adjustments tied to a microlender’s average loan size.

-- more --

Microlenders use the SBA funding to provide loans of up to $35,000 to entrepreneurs, which can be used for working capital and acquisition of materials, supplies, furniture, fixtures and equipment.

SBA also provides grant funding to microlenders to finance technical assistance and counseling programs for their borrowers, including staff, classroom training and occupancy costs. SBA’s reimbursement is capped at 25 percent of the microlender’s outstanding SBA loan portfolio.

Organizations interested in becoming SBA microlenders must meet specific criteria in terms of organizational status, microlending experience and matching requirements from non-federal sources. For more information, please visit: www.sba.gov/services/financialassistance/sbapartners/microloan, email microloans@sba.gov, or call 202-205-6485.

Entrepreneurs who wish to learn about the Microloan program can visit: http://www.sba.gov/services/financialassistance/sbaloantopics/microloans/index.html.

6th Latino Business Fair

2009-08-19T10:03:00.001-07:00

Saturday, August 22, 2009
11:00 am to 5:00 pm

Edmonds Community College
20000 68th Ave. WLynnwood, Washington 98036

It will be a day of food, family, and fun with the business of finding work and connecting to community resources. Find job opportunities, learn about community issues and resources including education, banking, immigration and health care plans and enjoy food, music, and dance. Activities for kids too. Free. Open to all.

For more information: Call Rosario Reyes at 425.672.4255

IRS’s Top Seven Tax Tips for Taxpayers Who Have Started or Are Thinking of Starting a New Business

2009-07-30T12:55:00.000-07:00

Anyone starting or thinking of starting a new business should be aware of their federal tax responsibilities. Here are the top seven things the IRS wants you to know if you plan on opening a new business this year.

1. First, you must decide what type of business entity you are going to establish. The type your business takes will determine which tax form you have to file. The most common types of business are the sole proprietorship, partnership, corporation and S corporation.

2. The type of business you operate determines what taxes you must pay and how you pay them. The four general types of business taxes are income tax, self-employment tax, employment tax and excise tax.

3. An Employer Identification Number is used to identify a business entity. Generally, businesses need an EIN. Visit IRS.gov for more information about whether you will need an EIN. You can also apply for an EIN online at IRS.gov.

4. Good records will help you ensure successful operation of your new business. You may choose any recordkeeping system suited to your business that clearly shows your income and expenses. Except in a few cases, the law does not require any special kind of records. However, the business you are in affects the type of records you need to keep for federal tax purposes.

5. Every business taxpayer must figure taxable income on an annual accounting period called a tax year. The calendar year and the fiscal year are the most common tax years used.

6. Each taxpayer must also use a consistent accounting method, which is a set of rules for determining when to report income and expenses. The most commonly used accounting methods are the cash method and an accrual method. Under the cash method, you generally report income in the tax year you receive it and deduct expenses in the tax year you pay them. Under an accrual method, you generally report income in the tax year you earn it and deduct expenses in the tax year you incur them.

7. Visit the Business section of IRS.gov for resources to assist entrepreneurs with starting and operating a new business.

To get the latest IRS news and products and services, subscribe to e-News for Small Businesses on IRS.gov at http://www.irs.gov/businesses/small/article/0,,id=154825,00.html, click “Subscribe Now” at the bottom of the page and enter your e-mail address.

The IRS Small Business and Self-employed Tax Center at http://www.irs.gov/businesses/small/index.html has more information about starting and operating a new business.

Washington Small Business Fair 2009

2009-07-16T13:34:00.000-07:00

FOR IMMEDIATE RELEASE
Contact: Ron Langley
Washington Dept. of Labor and Industries
Phone: 360-902-4745
E-mail: lanx235@Lni.wa.gov

Free business help on everything from money to marketing

Saturday, September 6, 2008
8:00 AM – 4:00 PM
Renton Technical College
3000 NE 4th St. Renton, WA

SEATTLE, Wash., July 7, 2008 – The 12th Annual Washington Small Business Fair is a free event for current and prospective small business owners offering valuable information and counseling from business experts and staff from federal and state government agencies. The Washington Small Business Fair is scheduled Saturday, September 6, 8:00 a.m. to 4:00 p.m. at Renton Technical College, 3000 NE 4th Street, in Renton.

Training and education substantially improve the odds that a small business owner will be among the 65 percent of small firms in Washington that survive their first three years in business. Biz Fair 2008 will provide instant information to help existing and prospective business owners succeed, and connect them with valuable information and resources that will serve them in the long term. Get information and training in one day and one place from local business experts, trade organizations, and government agencies about how to create or expand a small business.

More than 40 seminars will be taught by business professionals on a wide variety of topics, including web site design, business law, financing, marketing, and business planning. The fair is free, with plenty of free parking and no advance registration. Attendees may stay for the entire event or come for part of the day.

Seminar topics and directions to the fair are available at www.bizfair.org. More than 30 government and non-profit organizations, including trade associations and local chambers of commerce will participate, providing a terrific resource and networking opportunity.

“If you are starting a business or want to expand your current business, the Washington Small Business Fair is a must. It will offer solid, practical information and advice you can put to use immediately,” said Kari Gilje, Biz Fair Chair.

On average, 700 people attend the Washington Small Business Fair each year. Participants give Biz Fair high marks for providing small business owners the types of information they need to start or expand their business, for all-in-one-place convenience, and for the high caliber of presentations and range of topics all at a great price – free!

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American Recovery and Reinvestment Act of 2009 Provides Energy Incentives for Businesses

2009-07-11T19:59:00.000-07:00

The American Recovery and Reinvestment Act of 2009 (ARRA) provides a number of energy tax incentives for both small and large businesses. Businesses and individuals who take advantage of these energy-saving steps this year may result see bigger tax savings next year.

Here are some of the major provisions that apply:

1. Extension of Renewable Energy Production Tax Credit: This law extends the "eligibility dates" of a tax credit for business facilities that use wind, closed-loop biomass, open-loop biomass, geothermal energy, municipal solid waste, qualified hydropower and marine and hydrokinetic renewable energy. The "placed in service date" is now Dec. 31, 2012 for wind facilities and Dec. 31, 2013 for the other facilities.

2. Election of Investment Credit in Lieu of Production Credit: Businesses that operate facilities that produce electricity from wind and some other renewable resources after Dec. 31, 2008 can now choose either the energy investment tax credit or the production tax credit.

3. Repeal of Certain Limits on Business Credits for Renewable Energy Property: ARRA repeals the $4,000 limit on the 30 percent tax credit for small wind energy property and the limitation on property financed by subsidized energy financing for property placed in service after Dec. 31, 2008.

4. Coordination with Renewable Energy Grants: Business taxpayers can apply for a grant in lieu of claiming either the energy investment tax credit or the renewable energy production tax credit for property placed in service in 2009 or 2010.

5. Temporary Increase in Credit for Alternative Fuel Vehicle Refueling Property: Qualified property placed in service in 2009 and 2010 is now eligible for a 50 percent credit, and the per-business location limit increases to $50,000. Property relating to hydrogen remains at the 30 percent rate, but the per-business location limit rises to $200,000.

In addition, there are several other energy credits available that small businesses should be aware of, such as:

6. Residential Energy Property Credit: The new law increases the energy tax credit for homeowners who make energy efficient improvements to their existing homes. The new law increases the credit rate to 30 percent of the cost of all qualifying improvements and raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010. The credit applies to improvements such as adding insulation, energy efficient exterior windows and energy-efficient heating and air conditioning systems.

7. Plug-in Electric Drive Vehicle Credit: The new law modifies the credit for qualified plug-in electric drive vehicles purchased after Dec. 31, 2009.

8. Plug-In Electric Vehicle Credit: The new law also creates a special tax credit for two types of plug-in vehicles - certain low-speed electric vehicles and two- or three-wheeled vehicles.

More information on these business energy tax incentives are available on IRS.gov atwww.irs.gov/newsroom/article/0,,id=204335,00.htm. To keep up with ARRA and other IRS tax news, subscribe to e-News for Small Businesses at http://www.irs.gov/businesses/small/article/0,,id=154825,00.html or type in "e-News for Small Businesses " in the search box on IRS.gov and enter.

FREE WORKSHOP: Create a Fan Page for your Business on Facebook

2009-06-09T22:36:00.000-07:00

Monday, June 8, 2009
6:00 pm to 8:00 pm
Uppercase Books and Coffee Shop
Speaker: Hazel Grace Dircksen

Have you been wondering what Facebook can do for your business? This event is an opportunity to find out how using Facebook can help you boost visibility and expand your audience.Hazel Grace Dircksen, founder of Socialbees will teach you how to create your basic Fan Page and start buzzing on Facebook! She will also share examples of her clients and how they have utilized Facebook to generate more exposure for their businesses.

SBA Launches New 100-Percent Guarantee ARC Loan Program to Help Struggling Businesses

2009-05-30T23:37:00.000-07:00

WASHINGTON - Small businesses suffering financial hardship as a result of the slow economy may be eligible to receive temporary relief to keep their doors open and get their cash flow back on track through to a new loan program announced today by SBA Administrator Karen G. Mills.

Beginning on June 15, SBA will start guaranteeing America's Recovery Capital (ARC) loans. ARC loans are deferred-payment loans of up to $35,000 available to established, viable, for-profit small businesses that need short-term help to make their principal and interest payments on existing qualifying debt. ARC loans are interest-free to the borrower, 100 percent guaranteed by the SBA, and have no SBA fees associated with them.

"These ARC loans can provide the critical capital and support many small businesses need to make it through these tough economic times," said Administrator Mills. "Together with other provisions of the Recovery Act, ARC loans will free up capital and put more money in the hands of small business owners when they need it the most. This will help viable small businesses continue to grow and thrive and create new jobs in communities across the country."

As part of the Recovery Act, the ARC program was created as a no-interest, deferred payment loan to help small businesses that have a history of good performance, but as a result of the tough economy, are struggling to make debt payments.

ARC loans will be disbursed within a period of up to six months and will provide funds to be used for payments of principal and interest for existing, qualifying small business debt including mortgages, term and revolving lines of credit, capital leases, credit card obligations and notes payable to vendors, suppliers and utilities. Repayment will not begin until 12 months after the final disbursement. Borrowers don't have to pay interest on ARC loans. After the 12-moth deferral period, borrowers will pay back the loan principal over a period of five years.

ARC loans will be made by commercial lenders, not SBA directly. For more information on ARC loans, visit http://www.sba.gov/

SBA Workshop: Tips to survive and Thrive in a Challenging Economy

2009-04-02T14:31:00.000-07:00

A FREE Workshop for Small Business Owners

Tuesday, April 7, 2009
8:30 am to 10:30 am

Hosted by:
Traci Starck, Small Business Development Center
Economic Development Association of Skagit County
204 W. Montgomery
Mount Vernon, WA 98273

The SBA and its partners are ready to help small businesses cope with and survive this tough economic climate. If you are thinking about launching a new business, growing a current one, or you are struggling to keep your doors open - this workshop is for you.

Mark Costello of the U.S. Small Business Administration, will facilitate a panel of savvy business advisors who will provide tips on how to protect your business.

They will cover:

How to respond to the current credit market
Where to go for help - resources available
Critical steps to secure small business capital
How to take a proactive stance now.

For more information call: Traci Starck at 360.336.6114

To register via email: Debi McCullogh, debi@skagit.org

Pre-Registration is required.

Space limited to 40 attendees.

IRS Updates & News Release

2009-03-24T12:14:00.000-07:00

New! Information on Net Operating Loss Carryback
Information has just been added to the Tax Provisions in the American Recovery and Reinvestment Act of 2009 web page on the Net Operating Loss Carryback. Small businesses can offset losses by getting refunds on taxes paid up to five years ago. Information on the carryback and other business-related provisions is now available.

For more information on the net operating loss carryback, see the following links and pages:

New Law Extends Net Operating Loss Carryback for Small Businesses; IRS to Ensure Refunds Paid Timely
http://www.irs.gov/newsroom/article/0,,id=205329,00.html
Small businesses with deductions exceeding their income in 2008 can use a new net operating loss tax provision to get a refund of taxes paid in prior years. To accommodate the change in tax law, the IRS has updated the instructions for two key forms — Forms 1045 and 1139 — that small businesses can use to make use of the special carryback provision for tax year 2008. These forms are used to accelerate the payment of refunds.

The new provision, enacted as part of the American Recovery and Reinvestment Act of 2009, enables small businesses with a net operating loss (NOL) in 2008 to elect to offset this loss against income earned in up to five prior years. Typically, an NOL can be carried back for only two years. The IRS released legal guidance in Revenue Procedure 2009-19 outlining specific details. Some taxpayers must make the election to use this special carryback by April 17, 2009.

Small businesses with large losses in 2008 may be able to benefit fully from those losses now, rather than waiting until claiming them on future tax returns.

Questions and Answers for ARRA - Section 1211 5-year Net Operating Loss Carryback Election for Small Businesses
http://www.irs.gov/newsroom/article/0,,id=205331,00.html

Revenue Procedure 2009-19 (Net Operating Loss Carryback for Small Businesses)
http://www.irs.gov/pub/irs-drop/rp-09-19.pdf
There are several methods that a small business uses to elect the new provision as detailed in the Revenue Procedure. If a small business previously elected to waive the carryback of 2008 NOL but now wants to elect this special carryback, the small business may revoke its previous election to waive the carryback. The election revocation must be made on or before April 17, 2009.

Primary web page for updates to Tax Provisions in the American Recovery and Reinvestment Act of 2009:
http://www.irs.gov/newsroom/article/0,,id=204335,00.html?portlet=6
The Recovery web page is also available in Spanish: Información en Español -- http://www.irs.gov/newsroom/article/0,,id=205057,00.html
To see basic information on the Net Operating Loss Carryback and other ARRA Business Provisions, go here: http://www.irs.gov/newsroom/article/0,,id=205330,00.html

NW WBC Grand Opening - Everyone is Invited!

2009-02-19T15:40:00.000-08:00

Disaster Relief for Washington Flood Victims

2009-02-06T14:38:00.000-08:00

Tuesday, February 24, 2009
9:30 am - 11:00 am Pacific Time

The Internal Revenue Service, U.S. Small Business Administration and the Federal Emergency Management Agency invite you to attend a FREE webinar on disaster assistance.

Did you know you may be able to deduct the loss or partial loss of your home, household goods, and motor vehicles from the flood damage on your individual federal income tax return? Hear about the special tax law provisions that can help taxpayers and businesses recover financially from the impact of a disaster, including new rules for property losses in federally declared disaster areas.

Low interest disaster loans from the U.S. Small Business Administration (SBA) are the primary source of money for the repair or replacement of privately owned disaster damaged property for homeowners, renters, businesses of all sizes and private, non-profit organizations. These disaster loans cover underinsured and otherwise uncompensated losses and do not duplicate benefits of other agencies or organizations.

Speakers from SBA, FEMA and IRS will present information on the following topics:
Federal Tax Relief Available to Taxpayers in a Disaster Area
Information About Federally Declared Disaster Areas
Reporting Disaster Area Losses
IRS Disaster Assistance and Emergency Relief Program
SBA Disaster Assistance Program
FEMA Disaster Assistance

This Webinar will use ReadyTalk, the Small Business Administration's multi-media training tool. ReadyTalk allows you to attend valuable training from the convenience of your home or office at no cost to you. It's easy to use!

To register, click here: https://cc.readytalk.com/r/1u6iuxyfqi5lw

Once registered, you will receive a confirmation email with the instructions on accessing both the phone and web portions of the seminar.

Enrolled Agents are entitled to CPE Credit; other payroll and tax professionals may qualify depending on the requirements of their organizations.

NOTE: If you are unable to attend, but would like to view and listen to a recording of the webinar, please send an email to SL.Northwest@irs.gov with “Recording” in the subject line and after the webinar we will send you a hyperlink which will allow you to view and listen to it on a computer with an internet connection.

WA PTAC Presents: Opportunities for Small Business Trade Show - Alliance 2009

2009-02-03T12:52:00.000-08:00

Click Here To Register Today!

Small & Medium size businesses, this is the networking event of the year; meet with hundreds of buyers, contracting officers and other attendees.

OR

be an Exhibitor to showcase your business (this includes two entrance attendee tickets); so one person can network at the booth and the other person can walk the show and network.

EITHER WAY, YOU HAVE A WINNING COMBINATION. SEE YOU THERE!

should you have any questions, email
Kylene Binder at ptac@snoedc.org or copy and past to your browser www.washingtonptac.org/alliance2009

All information including hotels, directions, and exhibitor booth handout is located on the web site.

If you are flying you will come into SeaTac International Airport.

FREE PARKING

SBA Offers Disaster Assistance to Washington Small Businesses Economically Impacted by December Snowstorms

2009-02-03T12:38:00.000-08:00

Sacramento, CA – The Acting Administrator of the U. S. Small Business Administration (SBA), today announced that the SBA is making low-interest Economic Injury Disaster Loans available to small businesses economically impacted by snowstorms in Washington that occurred from December 12, 2008 through January 5, 2009.

The declaration covers all counties in Washington and neighboring counties in Idaho and Oregon.

SBA’s disaster declaration immediately makes these low-interest disaster loans available to help small businesses and most private, non-profit organizations meet financial needs caused by the disaster.

“The U.S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist Washington’s small businesses with federal disaster loans,” said Acting Administrator Darryl Hairston. “Getting our businesses up and running after a disaster is our highest priority at SBA.”

Hairston’s action responded to a January 28 request from Governor Christine Gregoire. Alfred E. Judd, Director of SBA’s Disaster Field Operations Center - West, said SBA acted under its own authority to declare this disaster. Judd emphasized, “This disaster declaration is a separate event from President Obama’s January 30 declaration for the severe winter storms, flooding, landslides and mudslides that occurred from January 6 through January 16 in eight Washington counties.”

SBA is offering working capital loans of up to $2 million at an interest rate of 4 percent with terms up to 30 years. “These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. These loans can provide vital economic assistance to small businesses affected by the snowstorms to help overcome the temporary financial impacts they are experiencing,” said Judd.

“Due to the economic loss the December snow storms caused small businesses in Washington, we want to provide every available service to help get them back on their feet,” said Judd. “SBA is opening nine Disaster Loan Outreach Centers where SBA customer service representatives will be available to meet individually with each business owner to explain how an SBA disaster loan can help finance their recovery. “We can answer your questions about SBA’s disaster loan program, explain the application process and accept your completed application,” he said. The SBA Disaster Loan Outreach Centers will be open at the following locations on the days and times indicated.

Clark County
Columbia River EDC
(located in the Bank of America Finance Center Building)
805 Broadway, Suite 412
Vancouver, WA
Open Thurs., Feb. 5 and Fri., Feb. 6,
Thurs., Feb. 12 and Fri., Feb. 13
9 am to 1 pm

Garfield County
Southeast Washington Economic Development Association
Pomeroy Grain Growers Building Office #6
910 Main Street
Pomeroy, WA
Open Tues., Feb. 10 and Feb. 17 10 am to 2 pm

Island County
The Island County Economic Development Council
180 NW Coveland Street
Coupeville, WA
Open Thurs., Feb. 5 and Fri., Feb. 6, Thurs., Feb. 12 and Fri., Feb. 13 9 am to 1 pm

Jefferson County
Port Townsend
Chamber of Commerce
440 12th Street
Port Townsend, WA
Open Wed., Feb. 4 thru Fri., Feb. 6,
Wed., Feb. 11 thru Fri., Feb. 13 and
Thurs., Feb. 19 9 am to 1 pm

Klickitat County
Klickitat County Fairgrounds
903 N. Fairgrounds Rd.
Goldendale, WA
Open Tuesdays Feb. 10 and Feb. 17 9 am to 1 pm

San Juan County
Legislative Building Second Floor
55 2nd Street
Friday Harbor, WA
Open Thurs., Feb. 5 and Fri., Feb. 6 and Wed., Feb. 11 thru Fri., Feb. 13 9 am to 1 pm

Stevens County
Tri County Economic
Development District
347 West 2nd Street – Suite A
Colville, WA
Open Wed., Feb. 4 and Thur., Feb. 5
Open Thurs., Feb. 12 and Fri., Feb. 13 9 am to 1 pm

Walla Walla County
Walla Walla Valley
Chamber of Commerce
29 East Sumach Street
Walla Walla, WA
Open Wed., Feb. 4 and Thur., Feb. 5
Open Thurs., Feb. 12 and Fri., Feb. 13
9 am to 1 pm

Whitman County
Pullman Chamber of Commerce
415 North Grand Avenue
Pullman, WA
Open Mon., Feb. 9 and Wed., Feb. 18 9 am to 1 pm

SBA will also provide customer service to business owners for the December economic injury declaration at all Disaster Recovery Centers that are open to help individuals and business owners who suffered property damage or economic loss as a result of the January severe winter storms and flooding disaster.

Applicants may apply for SBA loan assistance online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela. Disaster loan information and application forms may also be obtained from SBA’s Customer Service Center by calling toll-free (800) 659 2955, emailing disastercustomerservice@sba.gov, or by visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877 8339.

The deadline to apply for these loans is October 30, 2009.

CCD Christmas Party 2008

2009-01-15T09:47:00.000-08:00

Lessons for China from Seattle's Community Capital Development

2009-01-13T16:00:00.000-08:00

Jim Thomas, CEO of Seattle's Community Capital Development, has created a great model that could be the answer for many developing countries like China.

Shown waving in this 2006 photo from USA Today, Jim is a funny, warm, and sharp businessman. I contacted him via email first on December 16, 2008. Then a snowstorm hit Seattle area long and hard. When ice and snow finally gave away to our normal marine climate, I finally had the change to visit him on December 30, 2008.

Unlike Washington CASH, which I profiled here, microfinance is not the sole focus of Community Capital Development (CCD). Rather, it would be a step up for its graduates. This page outlines its lending terms. Whereas Washington CASH focuses on helping people to move out of poverty by utilizing their skills, CCD hopes to take them onto prosperity by providing them with more resources. He took the rein of a HUD (Housing and Urban Development under US Treasury) community development grant of $2.5MM at City of Seattle in 1994 and turned it into a $14.5MM community development lending operation today. Obviously he’s done something right!

“Our mission is job creation.” Jim explained that, for every $35,000 financed by CCD, he expects one job to be created. His model combines training and financing (similar to Washington CASH). However, not all applicants are taking the same training courses. In fact, CCD requires all applicants to attend a seminar first, to assess their needs for further training. This can last from several hours to several years, depending on the student’s level of business experience. He estimates that about 1,100 to 1,200 people attend seminars every year, but only 60 to 70 microfinance loans are made in the end. Through the training process, most people come to realize that they are not ready to run their own businesses.

(This is very true, confirmed by statistics and my own experience. It is not easy to start a business. It is even harder to grow it into a profitable venture. Once it is successful, the business needs to stay on top of its competition in order to sustain itself if not to grow. It’s hard!) Through this “self-weeding” process, as Jim put it, CCD suffers very low default rate (5%, less than half of the loss rate of WaMu Home Loans’ portfolio!)

I thought about what I learned from phone calls to friends and family members in China in the past months. “The major problem in China today is not poverty,” said one high ranking official friend, “It is how to create jobs amid factory closures that is most urgent.” The other family friends followed such a line. Apparently, poverty is an old issue that government would like people to overlook until it fixes it somehow someday. More visible to the outside world now is China's urban development. A large influx of unemployed workers, including millions of migrant workers who do not want to return to rural villages, is a cause for concern. From this perspective, Jim Thomas should be a guest of honor to Chinese government at all levels.

Written by Hongqing Chen, a Portfolio/Risk Manager and contributor to Wokai Adventures (wokai.typepad.com) January, 2009

SBA January Web Chat: How Can Small Businesses can Deal with Credit Crunch

2009-01-13T15:13:00.000-08:00

Host: Eric Zarnikow, Associate Administrator for the Office of Capital Access at the U.S. Small Business Administration

Time: Thursday, January 15, 2009 at 1:00 p.m. ET

Eric Zarnikow, Associate Administrator for the SBA’s Office of Capital Access, will host the January Web chat on “How Small Businesses can Deal with the Credit Crunch.” Zarnikow will answer questions to help chat participants learn about real-world strategies to employ during economic downturns, and how they can sustain themselves through the credit crunch.
The SBA has included information online on the Economic Recovery to help small businesses facing economic uncertainty — at http://www.sba.gov/helpingmainstreet/index.html

SBA's Web chat series, providing small business owners with an opportunity to discuss relevant business issues online with experts, industry leaders and successful entrepreneurs. Chat participants will have direct, real-time access to the Web chats via questions they submit online in advance and during the live session, with instant answers.

Participants can join the live Web chat by going online to www.sba.gov, and clicking "Online Business Chat." Web chat participants may post questions for Zarnikow before the January 15th chat by visiting http://app1.sba.gov/livemeeting/jan09/index.cfm, and posting their questions online