Tuesday, December 22, 2009

CCD Christmas Party 2009


Tuesday, December 15, 2009

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




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.

Thursday, December 3, 2009

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

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

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

# # #

Tuesday, November 24, 2009

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

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

Monday, November 23, 2009

Next Small Business Success Series dates announced

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.

Tuesday, September 29, 2009

Small businesses told to prepare for swine flu

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.


Monday, August 31, 2009

Five Facts about the Home Office Deduction

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.

Wednesday, August 19, 2009

Recovery Act Expands SBA Microloan Program

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


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

Thursday, July 30, 2009

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

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.

Thursday, July 16, 2009

Washington Small Business Fair 2009

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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Saturday, July 11, 2009

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

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.

Tuesday, June 9, 2009

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

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.



Saturday, May 30, 2009

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

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/

Thursday, April 2, 2009

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

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.

Tuesday, March 24, 2009

IRS Updates & News Release

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: InformaciĆ³n en EspaƱol -- 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

Thursday, February 19, 2009

NW WBC Grand Opening - Everyone is Invited!


Friday, February 6, 2009

Disaster Relief for Washington Flood Victims

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.

Tuesday, February 3, 2009

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


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

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.

Thursday, January 15, 2009

CCD Christmas Party 2008


Tuesday, January 13, 2009

Lessons for China from Seattle's Community Capital Development


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

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