Tar Heel Newsletter -- March 2019

The Tar Heel Newsletter - North Carolina District Office - March 2019

u s small business administration

Charlotte Emerging Leaders - Applications due April 5th

Emerging Leaders

The North Carolina District Office will once again be hosting Emerging Leaders in Charlotte, NC, and we need your help in getting the word out to potential participants! We are looking for businesses who:

• Have annual revenues of at least $250,000
• Have been in business for at least 3 years
• Have at least one employee, other than the owner

Joining us from Gastonia, Lincolnton, Concord, Fort Mill, Statesville, Monroe, and all around Mecklenburg County, prior participants spent 6 months developing a 3 year growth strategy. This is a free training program where they focus not on abstract business concepts, but on their own business  while working with experienced mentors and their peers. The only cost to participants is their time which is spent investing in the growth of their company. 

“The Emerging Leaders Program helped me look at my business differently," said Brandon Crumpton, President of Key Signature Entertainment.  "It helped me understand that the steps that kept me in business for the past 10 years may not take me to the next 10. I definitely have a much better understanding of my business and the direction we are going in.”

“The skills I learned through the Emerging Leader program were crucial for the successful growth of my business,” said Matthew Villmer, Attorney, Weaver, Bennett & Bland P.A. “The SBA’s course covers everything from marketing to obtaining government contracts, and I recommend the program to every small business owner in the Charlotte area!”

Only 18-20 Charlotte area small business owners will be selected to participate in this year’s program. Please encourage interested businesses to apply at https://www.interise.org/sbaemergingleaders or contact Eileen Joyce at Eileen.joyce@sba.gov or 704-344-6787



Thank you SBA Administrator McMahon for Igniting the American Dream across the Southeast and here in North Carolina

By Ashley D. Bell, Regional Administrator, U.S. Small Business Administration

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When Linda McMahon, head of the U.S. Small Business Administration (SBA) and advocate for the nation’s 30 million small business owners, visited Raleigh, NC last year, she was in the midst of her nationwide listening tour to ensure she heard from each SBA district directly and met with entrepreneurs to capture the true entrepreneurial essence of each region.

Administrator McMahon’s Ignite Tour featured visits to SBA’s 68 district offices, including the one here in North Carolina, in 50 states, D.C. and Puerto Rico. She met with more than 800 small business owners; from a fly fishing company in Montana, to a craft brewery in Oregon all the way to Triangle Rock Club here in North Raleigh. She met with small business champions, including those powered by the SBA, to get a full picture from entrepreneurs and to listen to their local concerns, knowing that every business, industry, state, and community has its own unique needs. Administrator McMahon listened to the challenges and successes of our districts and of our small business communities across the Southeast in order to create and direct the best small business policies to drive economic growth. I was honored to join the Administrator on the Southeastern tours which touched every state in our region.

During Administrator McMahon’s tour across the Southeast and the nation, the Tax Cuts and Jobs Act became law – giving these entrepreneurs and the rest of America’s small businesses some welcome relief. We were able to witness a “tax truck” purchased by Liberty Landscaping, the Florida Small Business Person of the Year in Jacksonville, FL. The owners were able to purchase a new delivery truck, because of their tax savings. Opportunity Zones were also designated, to encourage investment, development and job creation in economically-distressed areas. President Trump created the Executive Order of the National Council for the American Worker in which Administrator McMahon was named to be a part of and she had the opportunity to listen to what this meant for our growing businesses. Workforce development has been a top priority for many conversations during her Ignite Tour.

Small business creation and expansion truly has been ignited in the last two years and there couldn’t be a stronger ally for them than the SBA. Stories like those we heard from real entrepreneurs and real businesses, with real successes and challenges, inspire action. Take, for instance, the story of a great North Carolina small business. Administrator McMahon and I had a great visit with the Triangle Rock Club in North Raleigh; a rock climbing gym.  Joel Graybeal and Andrew Kratz were named 2014 North Carolina Small Business Persons of the Year and at that time, they had taken advantage of SBA 504 loans for fixed assets and a 7(a) guaranteed bank loan to construct or acquire their first two locations –Morrisville and North Raleigh. Thanks to the help of the SBA and their growth patterns, they have opened a third location, in Fayetteville, and due to another 504 loan they opened their fourth location, in Richmond, Virginia. 

This is just one of the many stories the Administrator and I have heard here in the Southeastern Region. And, it is important that the more than 800 small business owners the Administrator has met with know they were heard, and the President has heard them, because of her dedication to advocacy. We will continue to listen to America’s small businesses and to work toward their continued success.

I encourage small business owners and their champions to continue igniting the region and to tap the SBA for information on how we can help them to start, grow, expand and recover after a disaster. Visit www.sba.gov and follow us on Twitter @SBASoutheast for more detail.



Upcoming Webinars



All Small Mentor Protégé, Joint Ventures and Teaming

Attend a free webinar hosted by the U.S. Small Business Administration. Join us to learn more about the new All Small Mentor Protégé Program and how to use joint ventures and teaming arrangements to build your firm’s capacity.

When: March 26, 2019, 10am to 11am

Webinar Access:
Join by phone: +12027651264 (Dial-in Number) (United States)
Find a local number: https://dialin.lync.com/ce93c969-15b4-40a4-955a-df7f23cda5b2
Conference ID:
3766887
Join by web: https://meet.lync.com/sba123/econnel/NQRQ1LL3?sl=1
Conference ID: 3766887

See also www.sba.gov/nc and click on the events page to locate this event and the associated URLs.

Register


Small Business Federal Certifications Workshop

Learn about the various federal certifications you may be eligible for to sell your goods and services. SBA will cover: Woman-Owned Small Business, Small Disadvantaged Business, Service Disabled Veteran Program, 8(a) Business Development Program, HUBZone Empowerment Contracting Program.

When: May 14, 2019, 9am to 11am

Webinar Access:
Join by phone: +12027651264 (Dial-in Number) (United States)
Find a local number: https://dialin.lync.com/ce93c969-15b4-40a4-955a-df7f23cda5b2 Conference ID: 3766887
Join by web: https://meet.lync.com/sba123/econnel/NQRQ1LL3?sl=1
Conference ID: 3766887

See also www.sba.gov/nc and click on the events page to locate this event and the associated URLs.

Register


Other Contracting Vehicles

Attend a free webinar hosted by the U.S. Small Business Administration. Join us to learn more about the variety of ways you can sell your goods and services to the federal government. The SBA will discuss some of the contracting vehicles utilized by the government to purchase goods from small businesses.

When: May 28, 2019, 10am to 11am

Webinar Access:
Join by phone: +12027651264 (Dial-in Number) (United States)
Find a local number: https://dialin.lync.com/ce93c969-15b4-40a4-955a-df7f23cda5b2
Conference ID:
3766887
Join by web: https://meet.lync.com/sba123/econnel/NQRQ1LL3?sl=1
Conference ID: 3766887

See also www.sba.gov/nc and click on the events page to locate this event and the associated URLs.

Register


Small Business Federal Certifications Workshop

Learn about the various federal certifications you may be eligible for to sell your goods and services. SBA will cover: Woman-Owned Small Business, Small Disadvantaged Business, Service Disabled Veteran Program, 8(a) Business Development Program, HUBZone Empowerment Contracting Program.

When: July 9, 2019, 9am to 11am

Webinar Access:
Join by phone: +12027651264 (Dial-in Number) (United States)
Find a local number: https://dialin.lync.com/ce93c969-15b4-40a4-955a-df7f23cda5b2 Conference ID: 3766887
Join by web: https://meet.lync.com/sba123/econnel/NQRQ1LL3?sl=1
Conference ID: 3766887

See also www.sba.gov/nc and click on the events page to locate this event and the associated URLs.

Register


New 8(a) Applications

Attend a free webinar hosted by the U.S. Small Business Administration. Come join us to learn about the new process for applying to the 8(a) program. We will provide an overview of the new application process and answer questions you may have.

When: July 23, 2019, 9am to 11am

Webinar Access:
Join by phone: +12027651264 (Dial-in Number) (United States)
Find a local number: https://dialin.lync.com/ce93c969-15b4-40a4-955a-df7f23cda5b2 Conference ID: 3766887
Join by web: https://meet.lync.com/sba123/econnel/NQRQ1LL3?sl=1
Conference ID: 3766887

See also www.sba.gov/nc and click on the events page to locate this event and the associated URLs.

Register



Upcoming In-Person Workshops


8(a) Certification Workshop

This in-person workshop focuses solely on the 8(a) certification: its benefits, features and eligibility requirements.

When: April 9, 2019, 9am to 11am

In-Person Access/Location:
U.S. SBA North Carolina District Office
6302 Fairview Road Suite 300
Charlotte, NC 28210
704.344.6563 / www.sba.gov/nc / NC@sba.gov

Event Registration, please go to www.sba.gov/nc and click on the events page to locate the event and to register

Register


Small Business Federal Certifications Workshop

Learn about the various federal certifications you may be eligible for to sell your goods and services. SBA will cover: Woman-Owned Small Business, Small Disadvantaged Business, Service Disabled Veteran Program, 8(a) Business Development Program, HUBZone Empowerment Contracting Program.

When: June 11, 2019, 9am to 11am

In-Person Access/Location:
U.S. SBA North Carolina District Office
6302 Fairview Road Suite 300
Charlotte, NC 28210
704.344.6563 / www.sba.gov/nc / NC@sba.gov

Event Registration, please go to www.sba.gov/nc and click on the events page to locate the event and to register

Register


8(a) Certification Workshop

This in-person workshop focuses solely on the 8(a) certification: its benefits, features and eligibility requirements.


When: August 13, 2019, 9am to 11am

In-Person Access/Location:
U.S. SBA North Carolina District Office
6302 Fairview Road Suite 300
Charlotte, NC 28210
704.344.6563 / www.sba.gov/nc / NC@sba.gov

Event Registration, please go to www.sba.gov/nc and click on the events page to locate the event and to register

Register



Policy Notices


VA-verified Veteran Owned Small Businesses (VOSBs) Access Surplus Government Property

Recently passed legislation will allow VA-verified Veteran Owned Small Businesses (VOSBs) to access surplus Government property.  Link to the bill here: https://www.congress.gov/bill/115th-congress/senate-bill/2679/text?format=txt . 

This program is still in the process of being implemented but will ultimately be overseen by GSA.  Information about accessing surplus property through GSA is here: https://www.gsa.gov/buying-selling/government-property-for-sale-or-disposal/personal-property-for-reuse-sale/for-state-agencies-and-public-organizations . 

Each GSA region has a surplus property manager and each GSA building has a surplus property contact. List of local POCs here: https://www.gsa.gov/node/2038 .


IRS: Tax Law Changes

IRS: Several tax law changes may affect bottom line of many business owners

With just a few months left in the year, the IRS is highlighting important information for small businesses and self-employed individuals to help them understand and meet their tax obligations. Here are several changes that could affect the bottom line of many small businesses:

Qualified Business Income Deduction - Many owners of sole proprietorships, partnerships, trusts and S corporations may deduct 20% of their qualified business income.

Temporary 100% expensing for certain business assets - Businesses are now able to write off most depreciable business assets in the year the business places them in service.

Fringe benefits – Deductions have changed for entertainment and meals, qualified transportation, bicycle commuting reimbursements, qualified moving expenses reimbursements, and employee achievement awards.  

Estimated Taxes Individuals, including sole proprietors, partners and S corporation shareholders, may need to pay quarterly installments of estimated tax unless they owe less than $1,000 when they file their tax return or they had no tax liability in the prior year (subject to certain conditions). More information about tax withholding and estimated taxes can be found on the IRS’s Pay As You Go web page as well as in Publication 505, Tax Withholding and Estimated Tax. Publication 505 has additional details, including worksheets and examples, which can help taxpayers determine whether they should pay estimated taxes. Some affected taxpayers may include those who have dividend or capital gain income, owe alternative minimum tax or have other special situations. See www.IRS.gov/taxreform for more information about these and many other tax law changes.



Resources


Counseling Services

SBTDC

SMALL BUSINESS TECHNOLOGY DEVELOPMENT CENTERS

Be your own boss. The SBA helps  entrepreneurs launch new businesses and compete in the marketplace. Discover resources offered through the Small Business Technology Development Centers: https://www.sba.gov/tools/local-assistance/map/filter/789c2b2e492c49b5f273b6b2323736b50000249a0438 or http://www.sbtdc.org/

 


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SBA North Carolina Lending Activity

SBA North Carolina Lending Activity