News from the South Florida District - July 2021

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South Florida District Office  - July 2021

u s small business administration

This month, the SBA South Florida District hosted a Drive 8(a) Federal Contracting Certification Webinar to help entrepreneurs understand how to sell their goods and services to the federal government.

Drive 8(a) Recruitment events are used to educate potential applicants on the SBA’s 8(a) Business Development Program. 

Each year the federal government's goal is to award at least five percent of all federal contracting dollars to small disadvantaged businesses through the SBA 8(a) Business Development Program. If accepted into the SBA's 8(a) program, these social and economically disadvantaged businesses will receive nine years of business development assistance and will also be able to compete for federal contracting dollars by selling their goods and services to the federal government. 

Also, in an effort to help educate small business owners on tax benefits made available the Biden Administration, our team is offering Employee Retention Credit workshops on an ongoing basis. 

ERC is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021.

Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make. Also, if the employer's employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS. To view a recorded session of this workshop, visit Small Business Tax Training: Employee Retention Tax Credit (ERTC) Workshop on our YouTube page.

Follow us on Twitter or review our  District Calendar for upcoming Drive 8(a) and ERTC events. 


Breaking: SBA Announces Opening of Paycheck Protection Program Direct Forgiveness Portal

WASHINGTON – The U.S. Small Business Administration is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans under $150,000 through participating lenders to apply for forgiveness directly through the SBA.  

...This new change will help rush relief to over 6.5 million smallest of small southeastern businesses which has been the Administrator’s priority since day one. Read more here.

 

Federal Government Awards Record-Breaking $145.7 Billion in Contracting to Small Businesses

WASHINGTON – Recently, the U.S. Small Business Administration announced that the federal government exceeded its small business federal contracting goal, awarding 26.01 percent or $145.7 billion in federal contract dollars to small businesses, a $13 billion increase from the previous fiscal year. 

“Despite the fact that it’s been an extremely challenging year for small businesses, the SBA is proud to announce that our nation’s entrepreneurs used their trademark ingenuity, grit, and determination to do a record amount of contracts -- $145.7 billion -- with the federal government. Thanks to the support of countless dedicated government professionals, the federal government exceeded its small business contracting goal for FY20 with a $13 billion increase from the previous fiscal year,” said SBA Administrator Isabel Guzman.

“However, we know that there’s much more to do to ensure all of our small businesses can get contract-ready and have the opportunities they need to engage with the world’s largest customer..."

Read more here.

 

This is the Summer to Recover

By Janita R. Stewart, SBA Region IV Administrator
We all recognize a feeling of comfort and familiarity as the nation opens back up for business. Recovery from the pandemic is underway; but there are many small business owners that are still struggling. During these very hot Summer months, it is a great time to take advantage of recovery programs.

If you are already in a good place and you are up and running, this is an ideal time to prepare for any disaster that may come our way. The global pandemic has taught us all that anything is possible, and it is wise to be prepared as best as you can. 

Read more here.

 

Happy Birthday to the SBA!!!

Thank you for letting us be part of your business journey for nearly 7 decades. For resources to help you start, grow, expand or recover your business, visit Small Business Administration.

Illustration of an SBA building with a banner that says 68 years. The text reads, supporting small businesses for nearly 7 decades.

South Florida Book Club Meeting

As part of the Strategic Alliance Memorandum, SBA South Flo New York Times Best Selling Author and inspiration leader, Brene Brown, discuses the four courage-building skills that make up brave leadership. Join us as we review and discuss this phenomenal book

August 27, 2021 Noon-1pm

Register here

 

 

Book  Club

2021 Hurricane Preparedness Webinars

Disasters can take many forms and the financial cost of rebuilding after a disaster can be overwhelming. If you’re prepared for emergencies, you’ll be in a better position to recover and continue operations should disaster strike.

Join the South Florida District as we host weekly webinars that can help prepare you for a hurricane - before, during and after. We're going to cover services that the SBA can provide for your business in an event of a disaster.

Participants may call at anytime and are welcome to enter and exit at will. Review the Small Business Events section of our website for upcoming dates.