Tar Heel Newsletter -- August 2019

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

u s small business administration

New Senior Area Manager - Asheville
Sharon Harvey joins the
SBA North Carolina team

sharon

Sharon K. Harvey is a native of Indianapolis, Indiana.  She holds a bachelor's degree in Radio and Television, consisting of more than 40 credit hours in journalism from Butler University.  She joined the SBA Indiana District Office in 2008 as the public information officer, and assumed the role of economic development specialist in 2014. 

Prior to the SBA, Sharon spent 19 years in the private sector working in television and radio as a sales director and media buyer.

Sharon loves working with people, especially, when she can help them solve business problems or assist in their entrepreneurial goals.

Sharon has assumed the duties of Senior Area Manager - Asheville and will be working out of A-B Tech - Enka. Sharon can be reached at sharon.harvey@sba.gov or (202) 805-8947.

Welcome Sharon!



8(a) Business Development & Recruitment Summit

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Hosted by the U.S. Small Business Administration North Carolina District Office.

The federal government purchases $600 billion in goods and services each year. Five percent of those purchases are to go to socially disadvantaged small businesses. The SBA 8(a) program can help your firm as a socially disadvantaged small business tap into these contracting opportunities.

     • Are you a minority or socially disadvantaged business looking to expand your contracting opportunities with the federal government?

     • Is your net worth* below $250k?

     • Have you been in business for a least two years?

If so, you might be missing a huge opportunity to gain access to federal contracts that are set aside for 8(a) Business Development Program.

Click here to see if you meet the basic eligibility criteria for 8(a)

Thursday, August 15, 2019
9:00 a.m. – 12:00 p.m.

Morrison Regional Library
7015 Morrison Blvd, Charlotte, NC 28211

REGISTER

(*Net Worth: value of all assets, excluding equity in primary residence, business, and IRA)



The Runway Extension Act

The Runway Extension Act proposed rule is available for public comment. Public comment period closes August 23, 2019. 

Summary: The U.S. Small Business Administration proposes to modify its method for calculating annual average receipts used to prescribe size standards for small businesses. Specifically, consistent with a recent amendment to the Small Business Act, SBA proposes to change its regulations on the calculation of annual average receipts for all receipts-based SBA size standards and other agencies' proposed size standards for service-industry firms from a 3-year averaging period to a 5-year averaging period.

Click here visit the proposed rule on the Federal Register:

https://www.federalregister.gov/documents/2019/06/24/2019-12754/small-business-size-standards-calculation-of-annual-average-receipts



Small Business Cybersecurity Workshop

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Learn the basics of a cyber resilience strategy, understand quick wins to put into action now, and know what resources are available to the small business community. 

Join the NCDO Lead Economic Development Specialist Eileen Joyce in this free small business cybersecurity hands-on half-day workshop to help organizations:

  1. Identify which business assets others want
  2. Protect those assets
  3. Detect when something has gone wrong
  4. Respond quickly and appropriately with an action plan
  5. Recover after a breach

Small-sized organizations have valuable data which makes them prime targets for cybercriminals.  However, these organizations are often under-resourced when it comes to protecting their sensitive assets. 

This workshop is designed for individuals with little to no cybersecurity expertise, but everyone is welcome to attend.

Tuesday, September 17, 2019
1:00 p.m. – 4:00 p.m.

Gorelick Hall at Shalom Park
5007 Providence Road
Charlotte, NC 28226

Register

https://staysafeonline.org/event/csmb-workshop-charlottenc-19/ 



Your Voice for Small Business

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By Ashely Bell
SBA Region IV Administrator

As I travel the Southeast and visit with entrepreneurs from every stage of the business lifecycle, I have gained an understanding of the challenges as well as successes of small business owners. We have a lot of successes to celebrate at the SBA and we also see where a lot of work is needed to help small businesses thrive for generations to come. We have backed over $5 billion each year in SBA-backed loans, we have counseled nearly 300,000 entrepreneurs year over year, and we have witnessed small businesses in Region 4 receive nearly $18 billion in federal contracts in 2018.

Given these wins for small business, I would like to present some top priorities for me that are a focus right now for small businesses across this region. I feel these Initiatives will help even more entrepreneurs succeed in today’s thriving economy.

Rural Strong:

Rural Strong has taken the Southeast by force. The district offices located in the Southeastern Region have held over 20 Rural Strong events in partnership with USDA Rural Development and 12 more events are planned before September 30th. These rural outreach events developed through the SBA district offices focus on access to capital in rural communities by increasing the number of SBA-guaranteed loans made to rural small businesses and in HUBZones by 5%. The districts are committed to increasing the number of SBA lenders in rural areas and to expand use of the Lender Match online tool. Attendees of Rural Strong events are introduced to tools available from SBA and USDA to help rural businesses regardless of where they fall in the business lifecycle. Stay tuned for upcoming events on district calendars (sba.gov) and follow on Twitter #RuralStrong.

Drive 8(a):

Drive 8(a) has become part of the culture of each SBA district office located in Region 4. $2.2 billion has been awarded to 8(a) firms located in the region in 2018. In order to assure continued growth in set-aside federal dollars for 8(a) firms, each district has developed an active 8(a) Steering Committee comprised of public and private leaders to help lead the initiative in each respective state. The committee is tasked with two priorities: one is to recruit small businesses into the SBA’s 8(a) Business Development Program (a 9-year program to support their development and growth, and assist small businesses in securing 8(a) set-aside federal contracts). The second priority is to assist 8(a) firms who are nearing their graduation date to continue to succeed as they exit the program with the expectation of being able to compete in the open marketplace. As part of the success of the initiative, seasoned 8(a) firms are encouraged to join with younger 8(a) firms and take on a mentorship role to these firms to assist them in seeking continued success. A complete list of Drive 8(a) Steering Committee members may be found here.

Opportunity Zones/HUBZones:

In June 2018, more than 8,700 communities in 50 states, the District of Columbia, and five territories were certified by the Secretary of the U.S. Treasury as Qualified Opportunity Zones. Nearly 35 million Americans live in them and they are nearly evenly split between urban (40%) and rural (38%) zip codes with the remaining in suburban areas. And, nearly 300 contain Native American lands. On average, the median family income in an Opportunity Zone is 37% below the state median. The anticipated $100 billion in private investment will drive economic growth and corresponding public sector support will ensure a strong foundation for the capital that is, and will be, infused into revitalizing these left behind communities.

SBA is directly involved in the Opportunity Zone Initiative as it affects small businesses nation-wide and it is our intent to educate entrepreneurs on how to take advantage of the zones. Small businesses looking to start or expand can take advantage of the SBA’s free and low-cost business mentoring and training for guidance. SBA-backed lending could provide them access to capital to tap into the community’s anticipated growth. Small businesses also could potentially benefit as contractors on various Opportunity Zone development projects. Additional private capital for Opportunity Zones can be augmented by the SBA via a Small Business Investment Company, a privately-owned and managed investment fund designed to make equity and debt investments in qualifying small businesses. Lastly, many of the Opportunity Zones overlap with HUBZones. 8(a) firms that are nearing graduation may have the opportunity to move into a designated Opportunity Zone/HUBZone and they can continue to receive set-aside federal contracts for continued growth and success. For more information on Opportunity Zones, HUBZones and upcoming events, please contact your local SBA district office here.

HBCU Entrepreneurship Summits:

SBA district offices located in Region IV are partnering with Historically Black Colleges and Universities (HBCU’s) to host HBCU Entrepreneurship Summits this Summer. These colleges/universities reside in a designated HUBZone and often also an Opportunity Zone. The focus of these Summits is geared towards the students and educating them on entrepreneurship and how the SBA may help power their entrepreneurial dreams. The Summits will also include a HUBZone tract where HUBZone firms will be invited to participate with real job openings allowing them to meet with students seeking part time or full-time employment. For information on upcoming Summits at a HBCU near you, please contact your SBA district office here.

I hope you find these Initiatives beneficial. The SBA team is dedicated to serving America’s entrepreneurs every day and we look forward to your continued growth and success. Follow us on Twitter @SBASoutheast for the most updated information.



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