Small Business Jobs Act of 2010
The Small Business Jobs Act was signed by President Obama on September 27. The new law extends the SBA Recovery loans while offering more in lending support and tax breaks for entrepreneurs and small business owners. (This summary was developed by the United States Small Business Administration Press Office, and is copied below in its entirety.)
"New Law Puts More Capital in the Hands of Entrepreneurs and Small Business Owners
• Recovery Act Loans Extension – $14 billion more in lending support
o The law will extend SBA Recovery loans (with the 90% guarantee and reduced fees) through December 31, 2010. The $505 million for Recovery loans in this new law will support about $14 billion in overall small business lending. More than 1,400 small businesses that have been in a queue waiting for this bill to become law will be funded in a matter of days.
o Since passage of the Recovery Act, SBA has supported nearly 70,000 Recovery loans, turning $680 million in taxpayer dollars into more than $30 billion in lending support.
• Higher Loan Limits – significantly increases maximum loan sizes in top loan programs
o The law will permanently increase 7(a) and 504 limits from $2 million to $5 million (for manufacturers in 504 loan program, up to $5.5 million).
o The law will permanently increase microloan limits from $35,000 to $50,000, helping larger entrepreneurs with start-up costs and small business owners in underserved communities.
• Alternative Size Standards – more small businesses eligible to get SBA loans
o The law expands the number of businesses eligible for SBA loans by increasing the alternate size standard to those small businesses with less than $15 million in net worth and $5 million in average net income.
• Temporary Enhancements to Help with Working Capital, Commercial Real Estate Refinancing
o The law will increase maximum amount of SBA Express loans from $350,000 to $1 million (expires 9/27/2011).
o The law will allow some small businesses to refinance their owner-occupied commercial real estate mortgages into the 504 loan program (expires 9/27/2012).
• Dealer Floor Plan Pilot Extension, Expansion
o The pilot program (begun 2009) will be extended to 2013.
o After the $5-million loan limit is implemented, this will help even more small businesses owners who sell cars, RVs, boats, other titleable inventory.
• Small Business Intermediary Lending Pilot
o The law provides $16 million over the next three years for an intermediary-facilitated microloan program that will target small businesses needing microloans up to $200,000.
New Law Strengthens Small Businesses’ Ability to Compete for Contracts, Including Recommendations from the President’s Task Force on Federal Contracting Opportunities for Small Business
• Equal Treatment across Federal Contracting Programs
o The law reaffirms “parity” among federal small business contracting programs. Contracting officers will be free to choose among businesses owned by women and service-disabled veterans, as well as those participating in HUBZone and 8(a) programs, and soon the women’s contracting program when conducting contracts that are set-aside for small business.
• Better Playing Field for Small Businesses – more accountability, integrity, transparency
o The law gives agency procurement officers more ability to provide both large prime contracts and mircocontracts to small businesses. The law makes it harder for agencies to “bundle” contracts, a practice that often takes opportunities away from small business. The law also has stronger enforcement so agencies will be held more accountable for reaching small business goals.
o The law enforces stronger subcontracting plan requirements for large prime contractors to ensure small businesses are utilized in subcontracting. It also discourages late payments to small subcontractors.
o The law enforces SBA’s continuing efforts to combat fraud, waste, and abuse. Federal agencies, including the Department of Justice, will have more ability to vigorously pursue companies that win contracts by misrepresenting their small business status.
• Small Business Teaming Opportunities
o The law provides $10 million for a new pilot that provides grants that will help small businesses team up with each other to compete for larger and more complex federal government contracts.
New Law Promotes Small Business Exporting, Building on the President’s National Export Initiative
• Export Express Pilot Becomes Permanent
o The law turns the Export Express pilot loan program into a permanent program with 90% guarantees for loans up to $350,000 and 75% for loans between $350,000 and $500,000.
• State Trade and Export Promotion Grants Pilot
o The law provides $60 million in competitive grants over next three years for states to help
small business owners with exporting.
• Increased Staff and Strengthened Export Counseling Resources.
Law Expands Training and Counseling:
• Major Investment in Counseling and Training
o The law provides $50 million in grants available to Small Business Development Centers.
• More Opportunities in Export Counseling (see above)
New Law Provides $12 Billion in Tax Relief to Help Small Businesses Invest in their Firms, Create Jobs
• Extension, Expansion of Tax Cuts – 8 Tax Cuts
1. The highest small business expensing limit ever, of $500,000
2. Carry-back provisions on net operating losses of up to 5 years
3. Accelerated/bonus depreciation
4. Zero capital gains taxes for those who invest in small businesses
5. Increased deductions for start-ups
6. Deductions for employer-provided cell phones
7. Deductions for health insurance costs for the self-employed
8. Limitations on penalties for errors in tax reporting that disproportionately affect small business
Beyond SBA:
• Small Business Lending Fund – $30 billion (administered by Treasury)
o The law will provide smaller community banks with low cost capital (as low as 1%) if they go above and beyond 2009 small business lending levels.
• Establishes State Small Business Credit Initiative (administered by Treasury)
o The law will provide up to $1.5 billion to States to support state run small business lending programs."
Tuesday, September 28, 2010
Thursday, September 16, 2010
IRS to Hold Special Open House Saturday, Sept. 25 for Veterans and Persons with Disabilities
WASHINGTON — The Internal Revenue Service will host a special nationwide open house on Saturday, Sept. 25 to help taxpayers –– especially veterans and people with disabilities –– solve tax problems and respond to IRS notices.
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 June 5, over 6,700 taxpayers sought and received assistance and 96 percent had their issues resolved the same day.
The office in Minnesota that will be open from 9am to 2pm on 9/25 is:
Minneapolis Tax Assistance Center
250 Marquette Ave Suite 250
Minneapolis MN 55401
At the Sept. 25 open house, anyone who has a tax question or has received a notice can speak with an IRS employee to get an answer to their question or a clear explanation of what is necessary to satisfy the request. A taxpayer who cannot pay a balance due can find out whether an installment agreement is appropriate and, if so, fill out the paperwork then and there. Assistance with offers-in-compromise — an agreement between a taxpayer and the IRS that settles the taxpayer’s debt for less than the full amount owed — 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.
Taxpayers requiring special services, such as interpretation for the deaf or hard of hearing, should check local listings and call the local IRS Office/Taxpayer Assistance Center ahead of time to schedule an appointment.
Reminder for Small Tax-Exempt Organizations
The IRS also encourages representatives of small tax-exempt charitable community organizations, many of which serve people with disabilities and veterans, to file Form 990-N before the Oct. 15 deadline. Community organizations that fail to file a Form 990-N by this date risk losing their tax exempt status. As of June 30, more than 320,000 organizations were at risk of losing their exempt status.
The IRS Taxpayer Assistance Centers are opening their doors for a special event on September 25, 2010. This event is a special Open House for Veterans, People with Disabilities, their families and friends. A flyer is attached. I ask all of you to distribute via any means possible to "get the word out" that IRS will be open that Saturday for them. IRS staff can assist taxpayers with making payments, resolving notices, filing returns and many other services that are normally offered during a week day.
WASHINGTON — The Internal Revenue Service will host a special nationwide open house on Saturday, Sept. 25 to help taxpayers –– especially veterans and people with disabilities –– solve tax problems and respond to IRS notices.
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 June 5, over 6,700 taxpayers sought and received assistance and 96 percent had their issues resolved the same day.
The office in Minnesota that will be open from 9am to 2pm on 9/25 is:
Minneapolis Tax Assistance Center
250 Marquette Ave Suite 250
Minneapolis MN 55401
At the Sept. 25 open house, anyone who has a tax question or has received a notice can speak with an IRS employee to get an answer to their question or a clear explanation of what is necessary to satisfy the request. A taxpayer who cannot pay a balance due can find out whether an installment agreement is appropriate and, if so, fill out the paperwork then and there. Assistance with offers-in-compromise — an agreement between a taxpayer and the IRS that settles the taxpayer’s debt for less than the full amount owed — 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.
Taxpayers requiring special services, such as interpretation for the deaf or hard of hearing, should check local listings and call the local IRS Office/Taxpayer Assistance Center ahead of time to schedule an appointment.
Reminder for Small Tax-Exempt Organizations
The IRS also encourages representatives of small tax-exempt charitable community organizations, many of which serve people with disabilities and veterans, to file Form 990-N before the Oct. 15 deadline. Community organizations that fail to file a Form 990-N by this date risk losing their tax exempt status. As of June 30, more than 320,000 organizations were at risk of losing their exempt status.
The IRS Taxpayer Assistance Centers are opening their doors for a special event on September 25, 2010. This event is a special Open House for Veterans, People with Disabilities, their families and friends. A flyer is attached. I ask all of you to distribute via any means possible to "get the word out" that IRS will be open that Saturday for them. IRS staff can assist taxpayers with making payments, resolving notices, filing returns and many other services that are normally offered during a week day.
Friday, September 10, 2010
Patriot Express Loans: What percentage Must be Veteran-Owned?
The article below describes some of the combinations that may be used to apply for the Patriot Express Loan established by the US Small Business Administration and targeted to military veterans.
By Sue Brinck
To qualify under the Patriot Express loan program, an SBA program providing business loans for veterans, 51% of the business must be veteran-owned, including widows or spouses of a veteran. This is simple to calculate if the veteran owns the business 100%. But what about other situations? Here are some of the examples that may apply:
- A veteran owns 51% with the remaining 49% owned by a non-veteran. This is acceptable.
- No one veteran owns 51% but a combination equals that percentage. For example, Fred has a 20% interest and John has a 31% interest, both veterans. This would be acceptable.
- Fred is a veteran and his wife Judy is interested in opening a beauty salon. Even though she is not a veteran, as long as she is the lawful spouse, she can make the application 100% because she may qualify "stand alone" due to her marriage status.
- In the same example just mentioned, Fred and Judy may be on the application as 50% each. This is because either of them by themselves would qualify for the program.
- Hank is not a veteran but his father is. His father may make the application as 51% but he cannot act solely as a co-signer. The father must have some active participation in the business, even though the day-to-day operations are managed by Hank.
Bear in mind that only 20% or more owners of the business fill-out and sign the application. So, for example, if a person only has a 15% interest, they would not be guaranteeing the loan or be part of the loan process.
As seen above, the regulations specify that the current lawful spouse of a veteran or service member may apply under the program. Obviously, this would exclude a divorced spouse, but what about all the gradations in between? Here are some of the rules:
- It is uncertain whether a common law marriage would qualify. It would probably be the case that if your state acknowledges certain benefits between two persons who have a common long relationship, it would also apply to this Federal law.
- If you are simply separated with your spouse, the benefits would probably be available. However there is a gray area if you receive a legal decree of separation.
- But what if you are merely estranged from your spouse and not communicating? Can the other spouse prevent you from signing the papers for a loan? No. This is because you can make the application alone without the knowledge or consent of the other spouse. The other spouse would not be liable for the loan and wouldn't even be entitled to seek information about it (that would be confidential). It is based solely on your credit.
The article below describes some of the combinations that may be used to apply for the Patriot Express Loan established by the US Small Business Administration and targeted to military veterans.
By Sue Brinck
To qualify under the Patriot Express loan program, an SBA program providing business loans for veterans, 51% of the business must be veteran-owned, including widows or spouses of a veteran. This is simple to calculate if the veteran owns the business 100%. But what about other situations? Here are some of the examples that may apply:
- A veteran owns 51% with the remaining 49% owned by a non-veteran. This is acceptable.
- No one veteran owns 51% but a combination equals that percentage. For example, Fred has a 20% interest and John has a 31% interest, both veterans. This would be acceptable.
- Fred is a veteran and his wife Judy is interested in opening a beauty salon. Even though she is not a veteran, as long as she is the lawful spouse, she can make the application 100% because she may qualify "stand alone" due to her marriage status.
- In the same example just mentioned, Fred and Judy may be on the application as 50% each. This is because either of them by themselves would qualify for the program.
- Hank is not a veteran but his father is. His father may make the application as 51% but he cannot act solely as a co-signer. The father must have some active participation in the business, even though the day-to-day operations are managed by Hank.
Bear in mind that only 20% or more owners of the business fill-out and sign the application. So, for example, if a person only has a 15% interest, they would not be guaranteeing the loan or be part of the loan process.
As seen above, the regulations specify that the current lawful spouse of a veteran or service member may apply under the program. Obviously, this would exclude a divorced spouse, but what about all the gradations in between? Here are some of the rules:
- It is uncertain whether a common law marriage would qualify. It would probably be the case that if your state acknowledges certain benefits between two persons who have a common long relationship, it would also apply to this Federal law.
- If you are simply separated with your spouse, the benefits would probably be available. However there is a gray area if you receive a legal decree of separation.
- But what if you are merely estranged from your spouse and not communicating? Can the other spouse prevent you from signing the papers for a loan? No. This is because you can make the application alone without the knowledge or consent of the other spouse. The other spouse would not be liable for the loan and wouldn't even be entitled to seek information about it (that would be confidential). It is based solely on your credit.
Friday, September 3, 2010
Great Plains Venture Capital Fair - Application Fee Waived!
The 2nd annual Great Plains Venture Capital Fair (GPVCF), which showcases the region's most promising companies for an audience of venture investors and service professionals from regional and national venues has waived it's application fee for companies interested in presenting.
Companies interested in presenting at GPVCF should submit the application form to Molly Sullivan at gpvcf@ideacenternd.org no later than Sept 14, 2010.
For more information, go to www.marketplaceofideas.org or contact Molly at gpvcf@ideacenternd.org
Format: The executive summary shoudl fully describe the company's business, market opportunity, innovative solution, value proposition, competitive advantage, entrepreneurial team and financial highlights and offerings (not to exceed 4 pages in length)
When - September 28, 2010
Where - FargoDome - Fargo, ND
The 2nd annual Great Plains Venture Capital Fair (GPVCF), which showcases the region's most promising companies for an audience of venture investors and service professionals from regional and national venues has waived it's application fee for companies interested in presenting.
Companies interested in presenting at GPVCF should submit the application form to Molly Sullivan at gpvcf@ideacenternd.org no later than Sept 14, 2010.
For more information, go to www.marketplaceofideas.org or contact Molly at gpvcf@ideacenternd.org
Format: The executive summary shoudl fully describe the company's business, market opportunity, innovative solution, value proposition, competitive advantage, entrepreneurial team and financial highlights and offerings (not to exceed 4 pages in length)
When - September 28, 2010
Where - FargoDome - Fargo, ND
Tuesday, August 31, 2010
Inventors Network- Licensing Event, September 28th, with Stephen Key
Licensing Expert, Stephen Key will be covering a step-by-step process for bringing ideas/inventions to market through licensing. This workshop is geared for individuals and companies who have ideas for products and would like to learn an easy way to bring them to market, for those who provide services for the creative endeavor (engineers, attorneys, graphic designers, marketing personnel, manufacturers, researchers, paralegals, etc) and for family, friends and colleagues who are interested in understanding and helping with the process.
The event is from 5-9 on Tuesday, September 28th at Dunwoody Institute in Minneapolis and costs $10-$20, depending upon membership in Inventors’ Network. Stephen only comes to the Twin Cities every 2-3 years to present live seminars, so this is a "don't miss" opportunity.
What Attendees Will Learn
Attendees will learn a simple and effective step-by-step process on how to license their inventions:
- Licensing versus Manufacturing
- Creating a Marketable Product
- Protecting Your Inventions
- Bringing Your Product to Life
- How to Get Your Product Inside Companies, Easily
- What to Submit and How
- Negotiating Terms and Royalties
- Signing a Contract
- How to Keep Moving Ahead
- And more!
In addition to the presentation, there will be time for question & answers.
About Stephen Key
Stephen has been licensing products for over 30 years in a variety of industries (beverage, pharmaceutical, music, entertainment, toys...), has been featured in national media outlets (Dr. Phil, The Big Idea with Donny Deutsch, USA Today...), speaks world-wide on the topic of licensing and educates people on how to bring their products to market. In addition to licensing, Stephen has also manufactured and distributed products and has sold his products in retailing giants such as Wal-mart, Walgreens, 7-Eleven and Disney theme parks and stores world-wide. You can learn more about him at http://www.inventright.com.
Event Details
The event is being sponsored by Inventors’ Network http://www.inventorsnetwork.org.
WHO: Licensing Expert, Stephen Key
WHAT: Learn How to Bring Ideas to Market
WHEN: Tuesday, September 28th, 2010
TIME: 5:00 - 9:00, program begins at 5:30. (For those of you who need to eat on-site, the cafeteria will be open until 8:00. Food will not be served during the meeting).
WHERE: Dunwoody College of Technology, Minneapolis
COST:
$10 for Inventors’ Network Members
$20 for Non-members
Registration
Online: www.InventingCoach.com (Under Store, Stephen Key Event) Link = http://www.inventingcoach.com/store_key_event.html
At the event: Cash and check preferred.
For More Information
Jack Smith
952-470-8045
DrawPatent@aol.com
Linda Pollock
952-405-6910
Linda@InventingCoach.com
Licensing Expert, Stephen Key will be covering a step-by-step process for bringing ideas/inventions to market through licensing. This workshop is geared for individuals and companies who have ideas for products and would like to learn an easy way to bring them to market, for those who provide services for the creative endeavor (engineers, attorneys, graphic designers, marketing personnel, manufacturers, researchers, paralegals, etc) and for family, friends and colleagues who are interested in understanding and helping with the process.
The event is from 5-9 on Tuesday, September 28th at Dunwoody Institute in Minneapolis and costs $10-$20, depending upon membership in Inventors’ Network. Stephen only comes to the Twin Cities every 2-3 years to present live seminars, so this is a "don't miss" opportunity.
What Attendees Will Learn
Attendees will learn a simple and effective step-by-step process on how to license their inventions:
- Licensing versus Manufacturing
- Creating a Marketable Product
- Protecting Your Inventions
- Bringing Your Product to Life
- How to Get Your Product Inside Companies, Easily
- What to Submit and How
- Negotiating Terms and Royalties
- Signing a Contract
- How to Keep Moving Ahead
- And more!
In addition to the presentation, there will be time for question & answers.
About Stephen Key
Stephen has been licensing products for over 30 years in a variety of industries (beverage, pharmaceutical, music, entertainment, toys...), has been featured in national media outlets (Dr. Phil, The Big Idea with Donny Deutsch, USA Today...), speaks world-wide on the topic of licensing and educates people on how to bring their products to market. In addition to licensing, Stephen has also manufactured and distributed products and has sold his products in retailing giants such as Wal-mart, Walgreens, 7-Eleven and Disney theme parks and stores world-wide. You can learn more about him at http://www.inventright.com.
Event Details
The event is being sponsored by Inventors’ Network http://www.inventorsnetwork.org.
WHO: Licensing Expert, Stephen Key
WHAT: Learn How to Bring Ideas to Market
WHEN: Tuesday, September 28th, 2010
TIME: 5:00 - 9:00, program begins at 5:30. (For those of you who need to eat on-site, the cafeteria will be open until 8:00. Food will not be served during the meeting).
WHERE: Dunwoody College of Technology, Minneapolis
COST:
$10 for Inventors’ Network Members
$20 for Non-members
Registration
Online: www.InventingCoach.com (Under Store, Stephen Key Event) Link = http://www.inventingcoach.com/store_key_event.html
At the event: Cash and check preferred.
For More Information
Jack Smith
952-470-8045
DrawPatent@aol.com
Linda Pollock
952-405-6910
Linda@InventingCoach.com
Thursday, August 5, 2010
August Web Chat: Tips and Advice on Health Care Tax Credits Provided for Small Business Owners
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Thursday, August 12, 2010, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat will highlight small business health care, with a focus on how the Affordable Care Act will benefit small business owners through available tax-saving incentives. Participants can learn about the newest tax credits they can take advantage of, and additional tax provisions to be implemented during the next several years.
WHO: John Tuzynski, chief of Employment Tax and Specialty Programs for the Small Business Self-Employed (SB/SE) Division at the Internal Revenue Service, will host the August web chat on “Health Care and Small Business.”
WHAT: SBA’s Web chat series provides 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.
WHEN: August 12, 2010, 2010, 1 p.m. ET
Tuzynski will answer questions for one hour.
HOW: 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 before the August 12th chat by visiting http://web.sba.gov/livemeeting/Aug10/ and posting their questions online.
# # #
Advisory Date: August 4, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-12 Internet Address: http://www.sba.gov/news
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Thursday, August 12, 2010, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat will highlight small business health care, with a focus on how the Affordable Care Act will benefit small business owners through available tax-saving incentives. Participants can learn about the newest tax credits they can take advantage of, and additional tax provisions to be implemented during the next several years.
WHO: John Tuzynski, chief of Employment Tax and Specialty Programs for the Small Business Self-Employed (SB/SE) Division at the Internal Revenue Service, will host the August web chat on “Health Care and Small Business.”
WHAT: SBA’s Web chat series provides 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.
WHEN: August 12, 2010, 2010, 1 p.m. ET
Tuzynski will answer questions for one hour.
HOW: 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 before the August 12th chat by visiting http://web.sba.gov/livemeeting/Aug10/ and posting their questions online.
# # #
Advisory Date: August 4, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-12 Internet Address: http://www.sba.gov/news
Thursday, July 29, 2010
Overhauled SBA Website to Go Live in the Fall
The new SBA.gov will make it easier for small businesses, lending institutions, small business counselors and other members of the small business community to more quickly find the information they need through a simplified navigation structure. In addition, new features will allow users to tailor their experience to provide information that is specific to their needs and location.
The new website also will offer a dedicated lender area that helps banks and other financial institutions that partner with the SBA.
The website redesign is part of the SBA’s goal to create a dynamic online presence that delivers information to customers wherever they are online. To achieve this goal, the agency recently began using social media to reach constituents through a variety of online channels such as Facebook and Twitter. The agency also recently launched an improved search function on the current SBA.gov website which vastly improves the speed at which users can find the information they are looking for in advance of the launch of the new site this fall.
For more information on the SBA’s online expansion, please visit www.sba.gov/next.
Release Date: July 29, 2010 Contact: Cecelia Taylor (202) 401-3059
Release Number: 10-41
The new SBA.gov will make it easier for small businesses, lending institutions, small business counselors and other members of the small business community to more quickly find the information they need through a simplified navigation structure. In addition, new features will allow users to tailor their experience to provide information that is specific to their needs and location.
The new website also will offer a dedicated lender area that helps banks and other financial institutions that partner with the SBA.
The website redesign is part of the SBA’s goal to create a dynamic online presence that delivers information to customers wherever they are online. To achieve this goal, the agency recently began using social media to reach constituents through a variety of online channels such as Facebook and Twitter. The agency also recently launched an improved search function on the current SBA.gov website which vastly improves the speed at which users can find the information they are looking for in advance of the launch of the new site this fall.
For more information on the SBA’s online expansion, please visit www.sba.gov/next.
Release Date: July 29, 2010 Contact: Cecelia Taylor (202) 401-3059
Release Number: 10-41
Thursday, July 15, 2010
DOE Releases funds for SBIT/STTR.
Washington, DC -- U.S. Energy Secretary Steven Chu announced yesterday that $30 million in funding from the Recovery Act and FY 2010 budget appropriations will be made available to qualified small businesses to support the commercialization of promising new technologies. Today's funding announcement builds on the Department's existing efforts under the Small Business Innovation Research program (SBIR) and the Small Business Technology Transfer program (STTR) to develop near-term clean energy technologies and support American small businesses that will play an important role in building the clean energy economy of the future. This is the first time DOE has offered Phase III awards under these small business programs.
Small companies previously awarded Phase II grants through DOE's Small Business Innovation Research program (SBIR) or the Small Business Technology Transfer program (STTR) are eligible. Projects that include developed technologies with a strong potential for commercialization and impact on U.S. manufacturing and job creation are encouraged to apply. Successful applicants may receive up to $3 million over three years to research, develop, and deploy new technologies.
Applications are currently being accepted for the following technology areas of interest:
Biomass Technologies
1.Harvesting/Dewatering Technology for Algal Biofuels Production.
Buildings Technologies
1. Transitional Technology for Organic Light Emitting Diodes (OLEDs)
2. SSL Products made from Organic Light Emitting Diodes (OLEDs)
3. “Core” Technology for Organic Light Emitting Diodes (OLEDs)
Fuel Cell Technologies
1. Advanced Materials for Fuel Cell Technologies
2. Bio-Fueled Solid Oxide Fuel Cells
Geothermal Technologies, High Temperature Tools and Sensors
1. High Temperature Downhole Tools
2. High-Temperature-High-Volume Lifting
3. High Temperature Downhole MWD Tools for Directional Drilling
Industrial Technologies
1. Sensors and Controls
2. Industrial Membrane Process Systems
3. Advanced Materials
4. Integrated Reaction-Separation using non-thermal processes
5. Mitigation of Heat Losses, Fouling, and Scaling in key Manufacturing Unit Operations.
Solar Technologies - Lowering the Cost of Photovoltaics through Innovative Augmentation
1. Lightweight, Flexible and Low Cost Multi-junction Solar Cells
2. Static Module PV Concentrators
3. New Methods of Crystallizing Silicon
Vehicle Technologies
1. Technologies to Address Internal Heating in DC Bus Capacitors
2. Improved Magnetic Materials for Motors
3. Advanced Materials for Lightweight Vehicles
Wind Technologies
1. Advanced Wind Power Technologies and Systems
Fossil Energy
1. Pollution control
2. Advanced power systems
3. Stationary power fuel cells
4. Clean fuels
5. Carbon sequestration
6. Recovery of oil, natural gas, and methane hydrates
7. Advances in materials, sensors, monitors, controls, biotechnology, and computational processes
Electricity Delivery and Energy Reliability
1. Smart Grid Technologies and Systems
2. Electric Transmission Technologies
3. Superconducting Technology for Power Equipment
4. Advanced Materials for Power Electronics and Energy Storage
Nuclear Energy
1. Advanced Instrumentation and Control, Radiation Resistant Sensors, and Wireless On-Line Monitoring Systems for Nuclear Power Plant Applications
The deadline for submission of applications is August 4, 2010, at 8pm EST.
Information regarding applications is available in the funding notice section at: http://www.er.doe.gov/sbir/.
For more information about the DOE FY 2010 Phase III Xlerator Program please visit http://www1.eere.energy.gov.
###
Washington, DC -- U.S. Energy Secretary Steven Chu announced yesterday that $30 million in funding from the Recovery Act and FY 2010 budget appropriations will be made available to qualified small businesses to support the commercialization of promising new technologies. Today's funding announcement builds on the Department's existing efforts under the Small Business Innovation Research program (SBIR) and the Small Business Technology Transfer program (STTR) to develop near-term clean energy technologies and support American small businesses that will play an important role in building the clean energy economy of the future. This is the first time DOE has offered Phase III awards under these small business programs.
Small companies previously awarded Phase II grants through DOE's Small Business Innovation Research program (SBIR) or the Small Business Technology Transfer program (STTR) are eligible. Projects that include developed technologies with a strong potential for commercialization and impact on U.S. manufacturing and job creation are encouraged to apply. Successful applicants may receive up to $3 million over three years to research, develop, and deploy new technologies.
Applications are currently being accepted for the following technology areas of interest:
Biomass Technologies
1.Harvesting/Dewatering Technology for Algal Biofuels Production.
Buildings Technologies
1. Transitional Technology for Organic Light Emitting Diodes (OLEDs)
2. SSL Products made from Organic Light Emitting Diodes (OLEDs)
3. “Core” Technology for Organic Light Emitting Diodes (OLEDs)
Fuel Cell Technologies
1. Advanced Materials for Fuel Cell Technologies
2. Bio-Fueled Solid Oxide Fuel Cells
Geothermal Technologies, High Temperature Tools and Sensors
1. High Temperature Downhole Tools
2. High-Temperature-High-Volume Lifting
3. High Temperature Downhole MWD Tools for Directional Drilling
Industrial Technologies
1. Sensors and Controls
2. Industrial Membrane Process Systems
3. Advanced Materials
4. Integrated Reaction-Separation using non-thermal processes
5. Mitigation of Heat Losses, Fouling, and Scaling in key Manufacturing Unit Operations.
Solar Technologies - Lowering the Cost of Photovoltaics through Innovative Augmentation
1. Lightweight, Flexible and Low Cost Multi-junction Solar Cells
2. Static Module PV Concentrators
3. New Methods of Crystallizing Silicon
Vehicle Technologies
1. Technologies to Address Internal Heating in DC Bus Capacitors
2. Improved Magnetic Materials for Motors
3. Advanced Materials for Lightweight Vehicles
Wind Technologies
1. Advanced Wind Power Technologies and Systems
Fossil Energy
1. Pollution control
2. Advanced power systems
3. Stationary power fuel cells
4. Clean fuels
5. Carbon sequestration
6. Recovery of oil, natural gas, and methane hydrates
7. Advances in materials, sensors, monitors, controls, biotechnology, and computational processes
Electricity Delivery and Energy Reliability
1. Smart Grid Technologies and Systems
2. Electric Transmission Technologies
3. Superconducting Technology for Power Equipment
4. Advanced Materials for Power Electronics and Energy Storage
Nuclear Energy
1. Advanced Instrumentation and Control, Radiation Resistant Sensors, and Wireless On-Line Monitoring Systems for Nuclear Power Plant Applications
The deadline for submission of applications is August 4, 2010, at 8pm EST.
Information regarding applications is available in the funding notice section at: http://www.er.doe.gov/sbir/.
For more information about the DOE FY 2010 Phase III Xlerator Program please visit http://www1.eere.energy.gov.
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Monday, June 21, 2010
SBA Offers Free Webinar and Web Chat to Encourage Disaster Preparedness Planning for Business Owners
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WASHINGTON –No matter what time of year it is, or where you run your business, it’s a good idea to have a disaster preparedness plan in place. Recent disasters, such as the record-breaking flooding which occurred in Tennessee in April, serve as reminders to be proactive when it comes to building strategies to survive a disaster and recover quickly.
Toward this end, the U.S. Small Business Administration will offer two online disaster preparedness events next week. On Tuesday, June 22, Agility Recovery Solutions CEO Bob Boyd will discuss 10 Steps to Business Preparedness. Boyd will highlight key aspects of business continuity planning, including risk assessment, data back-up, crisis communications and insurance coverage.
On Thursday, June 24, SBA’s monthly Web Chat will be hosted by Nashville business owner Genma Holmes, CEO of Holmes Pest Control. Holmes will share her experience of how another business owner’s losses after Hurricane Katrina inspired her to develop her own preparedness plan. Because she was ready for the disaster, Holmes was able to resume operations just one day after cleaning up after a recent flood in Nashville.
TUESDAY, JUNE 22, 2010
WHO: Bob Boyd, CEO, Agility Recovery Solutions
WHAT: During the Tuesday Webinar, Agility CEO Bob Boyd will present 10 Tips to Business Preparedness, which will be followed by a question and answer session.
WHEN: 2:00 – 3:00 p.m. EDT
HOW: Register in Advance for 10 Tips to Business Preparedness by visiting Agility’s “Prepare My Business” Web site at www.preparemybusiness.org/education.
THURSDAY, JUNE 24, 2010
WHO: Genma Holmes, CEO, Holmes Pest Control
WHAT: Small business owner Genma Holmes will host the Thursday Web chat on “Disaster Preparedness for Business Owners: An Inside View,” and give her own account of how disaster preparedness planning helped keep her business running after Nashville’s recent record-breaking floods. Holmes will take questions and offer advice on disaster preparedness. Those participating in the Thursday Web chat may submit questions before or during the chat discussion.
WHEN: 1:00 – 2:00 p.m. EDT
HOW: Join the chat live by visiting www.sba.gov, and clicking “Online Business Chat.” Web chat participants may post questions prior to the chat by visiting: http://web.sba.gov/livemeeting/Jun10 .
To review archives of past Web chats, visit http://www.sba.gov/tools/monthlywebchat/index.html
# # #
Advisory Date: June 17, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-10 Internet Address: http://www.sba.gov/news
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WASHINGTON –No matter what time of year it is, or where you run your business, it’s a good idea to have a disaster preparedness plan in place. Recent disasters, such as the record-breaking flooding which occurred in Tennessee in April, serve as reminders to be proactive when it comes to building strategies to survive a disaster and recover quickly.
Toward this end, the U.S. Small Business Administration will offer two online disaster preparedness events next week. On Tuesday, June 22, Agility Recovery Solutions CEO Bob Boyd will discuss 10 Steps to Business Preparedness. Boyd will highlight key aspects of business continuity planning, including risk assessment, data back-up, crisis communications and insurance coverage.
On Thursday, June 24, SBA’s monthly Web Chat will be hosted by Nashville business owner Genma Holmes, CEO of Holmes Pest Control. Holmes will share her experience of how another business owner’s losses after Hurricane Katrina inspired her to develop her own preparedness plan. Because she was ready for the disaster, Holmes was able to resume operations just one day after cleaning up after a recent flood in Nashville.
TUESDAY, JUNE 22, 2010
WHO: Bob Boyd, CEO, Agility Recovery Solutions
WHAT: During the Tuesday Webinar, Agility CEO Bob Boyd will present 10 Tips to Business Preparedness, which will be followed by a question and answer session.
WHEN: 2:00 – 3:00 p.m. EDT
HOW: Register in Advance for 10 Tips to Business Preparedness by visiting Agility’s “Prepare My Business” Web site at www.preparemybusiness.org/education.
THURSDAY, JUNE 24, 2010
WHO: Genma Holmes, CEO, Holmes Pest Control
WHAT: Small business owner Genma Holmes will host the Thursday Web chat on “Disaster Preparedness for Business Owners: An Inside View,” and give her own account of how disaster preparedness planning helped keep her business running after Nashville’s recent record-breaking floods. Holmes will take questions and offer advice on disaster preparedness. Those participating in the Thursday Web chat may submit questions before or during the chat discussion.
WHEN: 1:00 – 2:00 p.m. EDT
HOW: Join the chat live by visiting www.sba.gov, and clicking “Online Business Chat.” Web chat participants may post questions prior to the chat by visiting: http://web.sba.gov/livemeeting/Jun10 .
To review archives of past Web chats, visit http://www.sba.gov/tools/monthlywebchat/index.html
# # #
Advisory Date: June 17, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-10 Internet Address: http://www.sba.gov/news
Friday, June 4, 2010
AG SECRETARY VILSACK AND SMALL BIZ ADMIN MILLS ANNOUNCE AGREEMENT TO STIMULATE RURAL BUSINESS CREATION AND EXPANSION
Partnership Will Increase Access to Capital in Rural Communities; Spur Business Growth, Job Creation
HILLSBORO, Mo., June 3, 2010 - Agriculture Secretary Tom Vilsack and U.S. Small Business (SBA) Administrator Karen G. Mills today announced that the two agencies have signed an agreement to encourage sustainable growth and development of rural small businesses. The announcement was made during the National Summit of Rural America, which gathered agricultural leaders, farmers, ranchers, community leaders, and residents of rural communities to share their vision and ideas that can help rebuild and revitalize rural America.
The agreement between the SBA and USDA is designed to reach out to people and places in rural areas and small communities with underserved financial needs. Prospective small businesses owned by minorities, women and veterans also are expected to benefit from this joint effort to encourage sustainable growth and development. USDA Rural Development's Rural Business Service will provide loan guarantees, loans and grants; the Small Business Administration will provide loan guarantees.
The MOU will remain in effect for three years. Under the agreement, USDA Rural Development and SBA will use their respective resources to provide small businesses in rural areas with loan guarantees and technical assistance to help build diverse and sustainable economies, reverse population decline, create and sustain jobs, and improve quality of life. The agreement is expected to:
* Improve opportunities for small businesses to start and grow;
* Improve coordination in the delivery and development of programs; and
* Increase the number of small business loans guaranteed by USDA and SBA
Key goals of this partnership include strengthening marketing and outreach by enabling each Agency's field offices to advise potential small business borrowers of the other Agency's credit programs that may support all or a portion of the small business' financing needs. USDA Rural Development and SBA field offices will exchange promotional and reference materials, including brochures and training schedules, and will distribute the other Agency's information to its field network and its potential applicants when appropriate.
USDA and SBA will also encourage their networks of resource partners to refer rural businesses to the other Agency's resources, where appropriate. Rural Development's network includes National and State Rural Partnership Councils, State and sub-State Offices, and Appropriate Technology Transfer to Rural Areas. SBA's network includes Small Business Development Centers, SCORE Chapters, U.S. Export Assistance Centers, Veteran Business Outreach Centers and Women's Business Centers. By mutual agreement, USDA and SBA may identify pairings of State and district offices to explore mutual best practices available to serve clients.
The Small Business Administration works to assist and protect the interests of small business. SBA guarantees loans and provides business development assistance to small businesses. It administers its programs through district offices throughout the United States and provides additional services through its network of resource partners: the Small Business Development Centers (SBDC), SCORE, U.S. Export Assistance Centers (USEAC), Women's Business Centers (WBC), and Veterans Business Outreach Centers (VBOC).
USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in the nation's capital and in 500 national, state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $134 billion in loans and loan guarantees.
Release No. 0300.10, Contact: USDA, Weldon Freeman, (202) 690-1384 SBA, Hayley Matz (202) 205-6948
#
Partnership Will Increase Access to Capital in Rural Communities; Spur Business Growth, Job Creation
HILLSBORO, Mo., June 3, 2010 - Agriculture Secretary Tom Vilsack and U.S. Small Business (SBA) Administrator Karen G. Mills today announced that the two agencies have signed an agreement to encourage sustainable growth and development of rural small businesses. The announcement was made during the National Summit of Rural America, which gathered agricultural leaders, farmers, ranchers, community leaders, and residents of rural communities to share their vision and ideas that can help rebuild and revitalize rural America.
The agreement between the SBA and USDA is designed to reach out to people and places in rural areas and small communities with underserved financial needs. Prospective small businesses owned by minorities, women and veterans also are expected to benefit from this joint effort to encourage sustainable growth and development. USDA Rural Development's Rural Business Service will provide loan guarantees, loans and grants; the Small Business Administration will provide loan guarantees.
The MOU will remain in effect for three years. Under the agreement, USDA Rural Development and SBA will use their respective resources to provide small businesses in rural areas with loan guarantees and technical assistance to help build diverse and sustainable economies, reverse population decline, create and sustain jobs, and improve quality of life. The agreement is expected to:
* Improve opportunities for small businesses to start and grow;
* Improve coordination in the delivery and development of programs; and
* Increase the number of small business loans guaranteed by USDA and SBA
Key goals of this partnership include strengthening marketing and outreach by enabling each Agency's field offices to advise potential small business borrowers of the other Agency's credit programs that may support all or a portion of the small business' financing needs. USDA Rural Development and SBA field offices will exchange promotional and reference materials, including brochures and training schedules, and will distribute the other Agency's information to its field network and its potential applicants when appropriate.
USDA and SBA will also encourage their networks of resource partners to refer rural businesses to the other Agency's resources, where appropriate. Rural Development's network includes National and State Rural Partnership Councils, State and sub-State Offices, and Appropriate Technology Transfer to Rural Areas. SBA's network includes Small Business Development Centers, SCORE Chapters, U.S. Export Assistance Centers, Veteran Business Outreach Centers and Women's Business Centers. By mutual agreement, USDA and SBA may identify pairings of State and district offices to explore mutual best practices available to serve clients.
The Small Business Administration works to assist and protect the interests of small business. SBA guarantees loans and provides business development assistance to small businesses. It administers its programs through district offices throughout the United States and provides additional services through its network of resource partners: the Small Business Development Centers (SBDC), SCORE, U.S. Export Assistance Centers (USEAC), Women's Business Centers (WBC), and Veterans Business Outreach Centers (VBOC).
USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in the nation's capital and in 500 national, state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $134 billion in loans and loan guarantees.
Release No. 0300.10, Contact: USDA, Weldon Freeman, (202) 690-1384 SBA, Hayley Matz (202) 205-6948
#
Monday, May 24, 2010
US SBA Awards 2 MN Lenders during Small Business Week
The U.S. Small Business Administration in Washington, D.C. gave awards to nine lenders and two investment companies on May 24, 2010 for their commitment to delivering vital financial assistance to American small businesses, as part of National Small Business Week.
Two firms from Minnesota were recognized;
A new award was created this year to honor a Community/Rural Lender that has made a positive impact on its community. The winner of the Community/Rural Lender of the Year was American Bank of the North, of Nashwauk, Minnesota.
In keeping with the heightened importance exports are receiving in the nation’s economic recovery, SBA this year again recognized two banks for their role in lending to small business exporters, and one of those banks was Wells Fargo Bank, N.A., of Minneapolis, Minnesota who won the award for making the largest number of domestic loans to exporters.
FROM:
Release Date: May 24, 2010 Contact: David J. Hall (202) 205-6697
Release Number: 10-27 Internet Address: http://www.sba.gov/news
The U.S. Small Business Administration in Washington, D.C. gave awards to nine lenders and two investment companies on May 24, 2010 for their commitment to delivering vital financial assistance to American small businesses, as part of National Small Business Week.
Two firms from Minnesota were recognized;
A new award was created this year to honor a Community/Rural Lender that has made a positive impact on its community. The winner of the Community/Rural Lender of the Year was American Bank of the North, of Nashwauk, Minnesota.
In keeping with the heightened importance exports are receiving in the nation’s economic recovery, SBA this year again recognized two banks for their role in lending to small business exporters, and one of those banks was Wells Fargo Bank, N.A., of Minneapolis, Minnesota who won the award for making the largest number of domestic loans to exporters.
FROM:
Release Date: May 24, 2010 Contact: David J. Hall (202) 205-6697
Release Number: 10-27 Internet Address: http://www.sba.gov/news
2009 MnSBDC Annual Report is an AWARD WINNER!
On May 20, 2010, Minnesota's Department of Employment and Economic Development (DEED) Communications Office was recognized with four awards by the Minnesota Association of Government Communicators (MAGC) during its Northern Lights competition. (DEED hosts the MnSBDC program)
The Northern Lights competition provides awards of merit or excellence in numerous categories related to communications. Submissions are reviewed and scored by peers in the government communications community in Minnesota.
One of the four awards received by the Communications Office was;
Award of Merit – Annual Reports – Lasting Positive Impact (SBDC 2009 Annual Report)
Big Thanks to the DEED Communication's Office for producing a fantastic report that captures the achievements of the MnSBDC Program.
Here's the link to the 2009 MnSBDC Annual Report!
On May 20, 2010, Minnesota's Department of Employment and Economic Development (DEED) Communications Office was recognized with four awards by the Minnesota Association of Government Communicators (MAGC) during its Northern Lights competition. (DEED hosts the MnSBDC program)
The Northern Lights competition provides awards of merit or excellence in numerous categories related to communications. Submissions are reviewed and scored by peers in the government communications community in Minnesota.
One of the four awards received by the Communications Office was;
Award of Merit – Annual Reports – Lasting Positive Impact (SBDC 2009 Annual Report)
Big Thanks to the DEED Communication's Office for producing a fantastic report that captures the achievements of the MnSBDC Program.
Here's the link to the 2009 MnSBDC Annual Report!
Tuesday, May 18, 2010
Minnesota SBA Honors Financial Services Champion - Jenny Dougherty
INTERNATIONAL FALLS – Jenny M. Dougherty, Small Business Development Center (SBDC) Professional Business Consultant for Koochiching Economic Development Authority (KEDA) in International Falls, has been named Minnesota Financial Services Champion of the Year by the U.S. Small Business Administration.
The Financial Services Champion award is presented annually in each state to individuals who assist small businesses through advocacy efforts to increase the usefulness and availability of accounting or financial services. Elaine S. Hansen, Director of the University of Minnesota (Duluth) Center for Economic Development and the Northeast Minnesota Small Business Development Center, nominated Dougherty for this award.
Dougherty has served Koochiching County as a Professional Business Consultant for the SBDC since 2007 in a part-time capacity. Her job responsibilities include business planning, financial analysis as well as cash flow and profitability analysis, assistance with access to capital, loan packaging and market research. Dougherty also is a QuickBooks Pro Advisor and teaches QuickBooks and other business workshops in her community. Recently, because of her efforts and the need for her services, Dougherty’s position was changed to a full-time position.
Dougherty is a 1986 graduate of St. Cloud State University, with a Bachelors of Science, majoring in Finance. She earned her Master of Business Administration from the University of St. Thomas in St. Paul in 2002. Spending her career in the financial industry, Dougherty worked for banks and mortgage companies in the Twin cities area before moving to International Falls, Minnesota. Throughout her twenty-four years in the financial industry, her experiences in mortgage loan origination and processing, underwriting, customer service, bookkeeping and much more, gave Dougherty the expertise she uses now to assist small businesses in Koochiching and Northern St. Louis County.
Dougherty also teaches workshops in starting a business, QuickBooks and other business-related topics at Rainy River Community College. She has developed strong relationships with local banks within the county, joined several local committees and organizations in support for the business community.
She has helped create a Women’s Business network in International Falls, serves on several boards including the International Falls Visitors and Convention Board (2005 – Present), and has been a Girl Scout Leader, President of Scandia Preschool, and serves on the First Lutheran Church Budge Committee (2007 – Present).
Dougherty and her husband, Dan Herman, have six daughters and reside on Rainy Lake in International Falls. Her husband has been a small business owner for over thirty years and her parents and siblings are all owners of small businesses. This experience and family perspective provides a first-hand understanding of the challenges that small business owners face.
For more information:
Jenny M. Dougherty
SBDC Professional Business Consultant
Koochiching Economic Development Authority (KEDA)
PO Box 138
405 3rd Street
International Falls, MN 56649
218-283-8585
jenny.keda@northwinds.net
Release Date: March 29, 2010 Contact: Sherree Stratton (612) 370-2325
Release Number: 2010-04 Internet Address: www.sba.gov/mn
INTERNATIONAL FALLS – Jenny M. Dougherty, Small Business Development Center (SBDC) Professional Business Consultant for Koochiching Economic Development Authority (KEDA) in International Falls, has been named Minnesota Financial Services Champion of the Year by the U.S. Small Business Administration.
The Financial Services Champion award is presented annually in each state to individuals who assist small businesses through advocacy efforts to increase the usefulness and availability of accounting or financial services. Elaine S. Hansen, Director of the University of Minnesota (Duluth) Center for Economic Development and the Northeast Minnesota Small Business Development Center, nominated Dougherty for this award.
Dougherty has served Koochiching County as a Professional Business Consultant for the SBDC since 2007 in a part-time capacity. Her job responsibilities include business planning, financial analysis as well as cash flow and profitability analysis, assistance with access to capital, loan packaging and market research. Dougherty also is a QuickBooks Pro Advisor and teaches QuickBooks and other business workshops in her community. Recently, because of her efforts and the need for her services, Dougherty’s position was changed to a full-time position.
Dougherty is a 1986 graduate of St. Cloud State University, with a Bachelors of Science, majoring in Finance. She earned her Master of Business Administration from the University of St. Thomas in St. Paul in 2002. Spending her career in the financial industry, Dougherty worked for banks and mortgage companies in the Twin cities area before moving to International Falls, Minnesota. Throughout her twenty-four years in the financial industry, her experiences in mortgage loan origination and processing, underwriting, customer service, bookkeeping and much more, gave Dougherty the expertise she uses now to assist small businesses in Koochiching and Northern St. Louis County.
Dougherty also teaches workshops in starting a business, QuickBooks and other business-related topics at Rainy River Community College. She has developed strong relationships with local banks within the county, joined several local committees and organizations in support for the business community.
She has helped create a Women’s Business network in International Falls, serves on several boards including the International Falls Visitors and Convention Board (2005 – Present), and has been a Girl Scout Leader, President of Scandia Preschool, and serves on the First Lutheran Church Budge Committee (2007 – Present).
Dougherty and her husband, Dan Herman, have six daughters and reside on Rainy Lake in International Falls. Her husband has been a small business owner for over thirty years and her parents and siblings are all owners of small businesses. This experience and family perspective provides a first-hand understanding of the challenges that small business owners face.
For more information:
Jenny M. Dougherty
SBDC Professional Business Consultant
Koochiching Economic Development Authority (KEDA)
PO Box 138
405 3rd Street
International Falls, MN 56649
218-283-8585
jenny.keda@northwinds.net
Release Date: March 29, 2010 Contact: Sherree Stratton (612) 370-2325
Release Number: 2010-04 Internet Address: www.sba.gov/mn
Google and SBA Launch “Tools for Online Success” Partnership to Boost Small Businesses
On May 5, 2010 the U.S. Small Business Administration (SBA) and Google announced a new partnership and unveiled “Tools for Online Success,” an array of online resources and training designed to help small business owners harness technology to grow their businesses. The “Tools for Online Success” site (http://www.google.com/help/sba) features tutorials, video testimonials, and tips from savvy small business people who have leveraged the web to become more efficient, more cost-effective, and more successful.
Visit the “Tools for Online Success” website for a full run-down, but here are a few easy tips all small business owners should be using:
• Establish your online presence. One out of five searches on Google are related to location. Most local online listings such as Google Places are free, and if your business doesn’t have a website, there are ready-made site templates and free hosting services that make establishing an online presence easy.
• Use free marketing to reach customers. You can build a fan base with free services like YouTube, Facebook and Twitter that keep your customers in-the-know about new products or specials and aware of promotions. These services are great "word of mouth" platforms - where a customer following you might tell their friends about your business.
• Know your customers. Easy to use web analytics tools can tell you a lot about your customers by analyzing what search term brought them to your website or what they look at while they are there. This information can help you make smart decisions about what you feature and what search terms you should run search ads on.
• Keep an eye on the latest trends. The growing popularity of smartphones means that more and more customers are searching for local information on the go. This makes it all the more important that a business’s online presence be accurate and up-to-date. You can link to your menu, give users driving directions, and even post digital coupons.
Release Date: May 5, 2010 Contact: Hayley Matz (202) 205-6948
Release Number: 10-20 Internet Address: http://www.sba.gov/news
On May 5, 2010 the U.S. Small Business Administration (SBA) and Google announced a new partnership and unveiled “Tools for Online Success,” an array of online resources and training designed to help small business owners harness technology to grow their businesses. The “Tools for Online Success” site (http://www.google.com/help/sba) features tutorials, video testimonials, and tips from savvy small business people who have leveraged the web to become more efficient, more cost-effective, and more successful.
Visit the “Tools for Online Success” website for a full run-down, but here are a few easy tips all small business owners should be using:
• Establish your online presence. One out of five searches on Google are related to location. Most local online listings such as Google Places are free, and if your business doesn’t have a website, there are ready-made site templates and free hosting services that make establishing an online presence easy.
• Use free marketing to reach customers. You can build a fan base with free services like YouTube, Facebook and Twitter that keep your customers in-the-know about new products or specials and aware of promotions. These services are great "word of mouth" platforms - where a customer following you might tell their friends about your business.
• Know your customers. Easy to use web analytics tools can tell you a lot about your customers by analyzing what search term brought them to your website or what they look at while they are there. This information can help you make smart decisions about what you feature and what search terms you should run search ads on.
• Keep an eye on the latest trends. The growing popularity of smartphones means that more and more customers are searching for local information on the go. This makes it all the more important that a business’s online presence be accurate and up-to-date. You can link to your menu, give users driving directions, and even post digital coupons.
Release Date: May 5, 2010 Contact: Hayley Matz (202) 205-6948
Release Number: 10-20 Internet Address: http://www.sba.gov/news
SBA Offers Tools to Help Exporters Succeed as Part of World Trade Week
The U. S. Small Business Administration is offering new, free tools for new and established small business exporters to help them grow and succeed in international trade. Small businesses will now have access to six-part podcast series, an introduction to exporting Youtube video and an online training course.
The podcast series is available online at http://www.sba.gov/tools/audiovideo/Podcasts/INTL_TRADE.html and focuses on Growing Your Business Through Exporting; Developing an Export Strategy; Preparing for Global Markets; Conducting Market Research; SBA Exporting Loan Program; and a Small Business Success Story.
The introduction to exporting video is available at http://www.youtube.com/user/sba#p/u/0/UFQIAszJWn4, and the free, online exporting course, “Take Your Business Global,” is available at http://web.sba.gov/sbtn/registration/index.cfm?CourseId=72.
In addition to the new online tools, SBA Resource Partners – Small Business Development Centers (SBDC), Womens Business Centers and SCORE – are available to assist small businesses in every U.S. State and Territory who are interested in exporting. These resource partners can help entrepreneurs identify potential export markets, facilitate export transactions, develop linkages between United States small business and prescreened foreign buyers, advise on participation in international trade shows, assist in obtaining export financing and in facilitating the development or reorientation of marketing and production strategies. In addition to counseling resources in every state and territory there are export specialists available at the 8 SBDC International Trade Export Assistance Centers and SCORE online international trade advisors. To find your local counseling resources please visit www.sba.gov.
Release Date: May 18, 2010 Contact: David J. Hall (202) 205-6697
Release Number: 10-22 Internet Address: http://www.sba.gov/news
The U. S. Small Business Administration is offering new, free tools for new and established small business exporters to help them grow and succeed in international trade. Small businesses will now have access to six-part podcast series, an introduction to exporting Youtube video and an online training course.
The podcast series is available online at http://www.sba.gov/tools/audiovideo/Podcasts/INTL_TRADE.html and focuses on Growing Your Business Through Exporting; Developing an Export Strategy; Preparing for Global Markets; Conducting Market Research; SBA Exporting Loan Program; and a Small Business Success Story.
The introduction to exporting video is available at http://www.youtube.com/user/sba#p/u/0/UFQIAszJWn4, and the free, online exporting course, “Take Your Business Global,” is available at http://web.sba.gov/sbtn/registration/index.cfm?CourseId=72.
In addition to the new online tools, SBA Resource Partners – Small Business Development Centers (SBDC), Womens Business Centers and SCORE – are available to assist small businesses in every U.S. State and Territory who are interested in exporting. These resource partners can help entrepreneurs identify potential export markets, facilitate export transactions, develop linkages between United States small business and prescreened foreign buyers, advise on participation in international trade shows, assist in obtaining export financing and in facilitating the development or reorientation of marketing and production strategies. In addition to counseling resources in every state and territory there are export specialists available at the 8 SBDC International Trade Export Assistance Centers and SCORE online international trade advisors. To find your local counseling resources please visit www.sba.gov.
Release Date: May 18, 2010 Contact: David J. Hall (202) 205-6697
Release Number: 10-22 Internet Address: http://www.sba.gov/news
Monday, May 17, 2010
CleanTech Open Business Competition
Are You an Ecopreneur with an Early Stage Clean Technology Company?
The Cleantech Open Business Competition can accelerate your business launch and growth. Just by entering you'll immediately start receiving resources and support to grow your company into a successful, sustainable business.
Register your interest in competing in the 2010 competition here. You'll get a head start on developing your network and learning the skills you'll need to win.
Key Dates and Entry Fees:
May 22, 2010 - Final Entry Deadline
$249 professionals
$199 students
**There is a $249 participation fee for each team member of each semifinalist team. Semifinalist teams will be announced June 15 and the payment will be accepted after that date.
Benefits for All Contestants Include:
* Executive Summary Webinar — Watch the recorded webinar from May 4th here.
* One-on-one mentoring by industry leaders — Get expert help with your executive summary
* Judges' feedback on your executive summary
* Cleantech National Conference — Showcase your technologies and meet cleantech enthusiasts on July 22, subject to space availability
For more information, click here for the CleanTech Open Website.
For a PDF File with more information, click here.
The MnSBDC will participate as a Judge for the NorthCentral Region for the contest, and is pleased to support this contest.
Are You an Ecopreneur with an Early Stage Clean Technology Company?
The Cleantech Open Business Competition can accelerate your business launch and growth. Just by entering you'll immediately start receiving resources and support to grow your company into a successful, sustainable business.
Register your interest in competing in the 2010 competition here. You'll get a head start on developing your network and learning the skills you'll need to win.
Key Dates and Entry Fees:
May 22, 2010 - Final Entry Deadline
$249 professionals
$199 students
**There is a $249 participation fee for each team member of each semifinalist team. Semifinalist teams will be announced June 15 and the payment will be accepted after that date.
Benefits for All Contestants Include:
* Executive Summary Webinar — Watch the recorded webinar from May 4th here.
* One-on-one mentoring by industry leaders — Get expert help with your executive summary
* Judges' feedback on your executive summary
* Cleantech National Conference — Showcase your technologies and meet cleantech enthusiasts on July 22, subject to space availability
For more information, click here for the CleanTech Open Website.
For a PDF File with more information, click here.
The MnSBDC will participate as a Judge for the NorthCentral Region for the contest, and is pleased to support this contest.
Monday, May 10, 2010
Renewable Energy Grants? For Rural Minnesota?
HERE'S THE GRANT!
The USDA is implementing the Rural Energy for America Program (REAP) for Fiscal Year 2010. This is for the purchase of renewable energy systems and the making of energy efficiency improvements for agriculture producers and rural small businesses in eligible rural areas.
CLICK HERE for the link to FULL details and information on the grant.
DEADLINE: 4:30 local time June 30, 2010.
Application materials may be obtained by contacting the Rural Development’s Energy Coordinators or by downloading through http://www.grants.gov. Submit electronic applications at http://www.grants.gov, following the instructions found on this Web site.
Rural Development Energy Coordinator for MN
Lisa L. Noty, USDA Rural Development, 1400 West Main Street, Albert Lea, MN 56007, (507) 373–7960 Ext. 120, lisa.noty@mn.usda.gov
HERE'S THE GRANT!
The USDA is implementing the Rural Energy for America Program (REAP) for Fiscal Year 2010. This is for the purchase of renewable energy systems and the making of energy efficiency improvements for agriculture producers and rural small businesses in eligible rural areas.
CLICK HERE for the link to FULL details and information on the grant.
DEADLINE: 4:30 local time June 30, 2010.
Application materials may be obtained by contacting the Rural Development’s Energy Coordinators or by downloading through http://www.grants.gov. Submit electronic applications at http://www.grants.gov, following the instructions found on this Web site.
Rural Development Energy Coordinator for MN
Lisa L. Noty, USDA Rural Development, 1400 West Main Street, Albert Lea, MN 56007, (507) 373–7960 Ext. 120, lisa.noty@mn.usda.gov
Tuesday, April 27, 2010
Doing Business in India? Why would I do that?
How about considering that India is the second-most populous country IN THE WORLD with about 1.18 billion people. Talk about 'market potential'. The other reason to consider this is that they speak English there! Finally - how would you like to learn about this market and how to do business there from the comfort and privacy of your own home?
If you have an Internet connection, and for a modest $35 registration fee, you can!
Details below;
This webinar will present the following topics:
Date, Time & Location:
Webinar - April 28th, 2010 from 10:00 am to 11:30 am CST
Price & Registration: $35
Register online at www.texastrade.org
This opportunity is brought to you by the INTERNATIONAL TRADE CENTER located at the University of Texas, San Antonio and part of the Southwest Texas Border Region SBDC Network.
How about considering that India is the second-most populous country IN THE WORLD with about 1.18 billion people. Talk about 'market potential'. The other reason to consider this is that they speak English there! Finally - how would you like to learn about this market and how to do business there from the comfort and privacy of your own home?
If you have an Internet connection, and for a modest $35 registration fee, you can!
Details below;
This webinar will present the following topics:
- Due diligence when selecting a reseller or
- other business partner in India.
- Getting paid by an Indian customer
- Setting up an R&D operation in India:
- dos and don’ts of alternative approaches
- Setting up your own operation in India: legal and accounting issues, audits, tax breaks, and more.
Date, Time & Location:
Webinar - April 28th, 2010 from 10:00 am to 11:30 am CST
Price & Registration: $35
Register online at www.texastrade.org
This opportunity is brought to you by the INTERNATIONAL TRADE CENTER located at the University of Texas, San Antonio and part of the Southwest Texas Border Region SBDC Network.
Senator Snowe calls for funding for job-creating programs
Apr 23, 2010 (Congressional Documents and Publications/ContentWorks via COMTEX) --
Washington, D.C. -
At a Senate Committee on Small Business and Entrepreneurship hearing yesterday afternoon regarding the Small Business Administration's (SBA) Fiscal Year 2011 budget, Ranking Member Olympia J. Snowe (R-Maine) expressed her concern that the SBA's core, job-creating programs are slated for flat-funding under President Obama's Fiscal Year 2011 budget. At the same time, Senator Snowe pledged to work with SBA Administrator Karen Mills to ensure that her agency has the tools necessary to help America's nearly 30 million small businesses, including passage of a broad small business jobs package.
"A strong and well-funded SBA represents a prudent investment in America's economic future," said Ranking Member Snowe. "I am very concerned that although the Administration's proposal would provide a 15 percent increase to the SBA's budget, none of the additional funds have been directed to the SBA's core, non-credit programs, including Women's Business Centers, Veterans Business Centers, Small Business Development Centers, SCORE, and the HUBZone program."
Senator Snowe continued, "At a time when small businesses are struggling to create jobs, it is more crucial than ever that the SBA invest any additional taxpayer dollars in the programs that have proven time and again to create jobs and help entrepreneurs succeed."
At the same hearing, Senator Snowe also reiterated her call for Senate Majority Leader Harry Reid to bring a small business jobs bill to the Senate Floor without delay, as he had promised prior to the Easter recess. She urged the Leader to include provisions from the Small Business Job Creation Act of 2010 (S. 3103), which Senator Snowe introduced on March 10, 2010, is based in large part on several bipartisan bills that have already been approved by the Senate Committee on Small Business and Entrepreneurship.
Specifically, that legislation includes critical enhancements to the SBA's lending programs, such as an increase in the loan limits for the SBA's 7(a) and 504 loans from $2 million to $5 million and for the SBA's microloans from $35,000 to $50,000, as well as an expansion and enhancement of export financing and assistance for small businesses. The bill also contains a five-year extension of small business expensing; a complete exclusion on capital gains attributable to small business stock held for five years; a Job Impact Statement for every major piece of legislation; and critical funding for the Small Business Development Centers.
Apr 23, 2010 (Congressional Documents and Publications/ContentWorks via COMTEX) --
Washington, D.C. -
At a Senate Committee on Small Business and Entrepreneurship hearing yesterday afternoon regarding the Small Business Administration's (SBA) Fiscal Year 2011 budget, Ranking Member Olympia J. Snowe (R-Maine) expressed her concern that the SBA's core, job-creating programs are slated for flat-funding under President Obama's Fiscal Year 2011 budget. At the same time, Senator Snowe pledged to work with SBA Administrator Karen Mills to ensure that her agency has the tools necessary to help America's nearly 30 million small businesses, including passage of a broad small business jobs package.
"A strong and well-funded SBA represents a prudent investment in America's economic future," said Ranking Member Snowe. "I am very concerned that although the Administration's proposal would provide a 15 percent increase to the SBA's budget, none of the additional funds have been directed to the SBA's core, non-credit programs, including Women's Business Centers, Veterans Business Centers, Small Business Development Centers, SCORE, and the HUBZone program."
Senator Snowe continued, "At a time when small businesses are struggling to create jobs, it is more crucial than ever that the SBA invest any additional taxpayer dollars in the programs that have proven time and again to create jobs and help entrepreneurs succeed."
At the same hearing, Senator Snowe also reiterated her call for Senate Majority Leader Harry Reid to bring a small business jobs bill to the Senate Floor without delay, as he had promised prior to the Easter recess. She urged the Leader to include provisions from the Small Business Job Creation Act of 2010 (S. 3103), which Senator Snowe introduced on March 10, 2010, is based in large part on several bipartisan bills that have already been approved by the Senate Committee on Small Business and Entrepreneurship.
Specifically, that legislation includes critical enhancements to the SBA's lending programs, such as an increase in the loan limits for the SBA's 7(a) and 504 loans from $2 million to $5 million and for the SBA's microloans from $35,000 to $50,000, as well as an expansion and enhancement of export financing and assistance for small businesses. The bill also contains a five-year extension of small business expensing; a complete exclusion on capital gains attributable to small business stock held for five years; a Job Impact Statement for every major piece of legislation; and critical funding for the Small Business Development Centers.
Friday, April 16, 2010
Start-Up Business Advice Provided for Entrepreneurs
---
Thursday, April 22, 2010, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat will highlight assistance to entrepreneurs who want to start a business, and need to know the right strategies to have in place to achieve success. Participants can learn what it takes to start a business, where to go for information and assistance, why they need a business plan, how to get funding and the truth about the “free money” myth.
WHO: Barry McKinley, an experienced SCORE Counselor at Orange County California SCORE will host the April Web chat on “Small Business Start-Up -- Ask the Expert.” McKinley will answer questions about what first steps to take to start a business, and how and when to get a small business idea off the ground.
In addition, participants can learn about the resources available to help set up a business.
WHAT: 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.
WHEN: April 22, 2010, 1 p.m. ET
McKinley will answer questions for one hour.
HOW: 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 before the April 22nd chat by visiting http://web.sba.gov/livemeeting/Apr10 and posting their questions online.
Contact: Cecelia Taylor (202)401-3059
SBA Advisory Number: MA10-05
# # #
---
Thursday, April 22, 2010, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat will highlight assistance to entrepreneurs who want to start a business, and need to know the right strategies to have in place to achieve success. Participants can learn what it takes to start a business, where to go for information and assistance, why they need a business plan, how to get funding and the truth about the “free money” myth.
WHO: Barry McKinley, an experienced SCORE Counselor at Orange County California SCORE will host the April Web chat on “Small Business Start-Up -- Ask the Expert.” McKinley will answer questions about what first steps to take to start a business, and how and when to get a small business idea off the ground.
In addition, participants can learn about the resources available to help set up a business.
WHAT: 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.
WHEN: April 22, 2010, 1 p.m. ET
McKinley will answer questions for one hour.
HOW: 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 before the April 22nd chat by visiting http://web.sba.gov/livemeeting/Apr10 and posting their questions online.
Contact: Cecelia Taylor (202)401-3059
SBA Advisory Number: MA10-05
# # #
Tuesday, April 6, 2010
SBA Offers Free Webinar Series to Help Small Business Owners Get Fiscally Fit
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Recognizes National Financial Literacy Month
April 2010
WHAT: The U.S. Small Business Administration will host a Webinar series in recognition of National Financial Literacy Month. Topics will highlight the importance of financial education and the opportunity to learn practical money skills and financial wellness. Participants will learn basic money management and financial skills for today's business world.
WHEN: April 7, 2010
WHO: Learn to build wealth and not debt from some of the industry leaders on financial education and entrepreneurship. Webinar presenters and topics include:
Topic: The Importance of Financial Education in the Workplace
Wednesday, April 7 at 11:00 a.m.
Becky MacDicken, Financial Education Specialist
Pennsylvania Office of Financial Education
Topic: Basic Banking/Financial Tips for Small Business
Wednesday, April 7 at 3:00 p.m.
Luke Reynolds, Chief of the Outreach & Program Development Section
Division of Supervision and Consumer Protection Community Affairs
Branch, Federal Deposit Insurance Corporation (FDIC)
HOW: For free visual and audio access to the Webinar go to
www.ReadyTalk.com
Click "join a meeting" and enter access code 3761101
Then dial 866-740-1260 and enter access code 3761101 (plus the #
key).
System Requirements:
Windows, Mac, Linux and Solaris operating systems
Internet Explorer, Safari and Firefox Web browsers
Separate telephone line needed for the audio portion
---
Recognizes National Financial Literacy Month
April 2010
WHAT: The U.S. Small Business Administration will host a Webinar series in recognition of National Financial Literacy Month. Topics will highlight the importance of financial education and the opportunity to learn practical money skills and financial wellness. Participants will learn basic money management and financial skills for today's business world.
WHEN: April 7, 2010
WHO: Learn to build wealth and not debt from some of the industry leaders on financial education and entrepreneurship. Webinar presenters and topics include:
Topic: The Importance of Financial Education in the Workplace
Wednesday, April 7 at 11:00 a.m.
Becky MacDicken, Financial Education Specialist
Pennsylvania Office of Financial Education
Topic: Basic Banking/Financial Tips for Small Business
Wednesday, April 7 at 3:00 p.m.
Luke Reynolds, Chief of the Outreach & Program Development Section
Division of Supervision and Consumer Protection Community Affairs
Branch, Federal Deposit Insurance Corporation (FDIC)
HOW: For free visual and audio access to the Webinar go to
www.ReadyTalk.com
Click "join a meeting" and enter access code 3761101
Then dial 866-740-1260 and enter access code 3761101 (plus the #
key).
System Requirements:
Windows, Mac, Linux and Solaris operating systems
Internet Explorer, Safari and Firefox Web browsers
Separate telephone line needed for the audio portion
Sunday, April 4, 2010
Veterans Business Outreach Center - Position Opportunity
The new Region III Veterans Business Outreach Center (administered by the Pennsylvania SBDC and serving Pennsylvania; Delaware; Washington, DC; Maryland; Virginia; and West Virginia) is seeking a seasoned business consultant for the Program Director's position. Application reviews will begin April 19. The Pennsylvania SBDC is asking for your assistance to fill this important position by publicizing it far and wide. Please click here for the position announcement.
The Veterans' Business Outreach Center, Region III, is located in the heart of Pittsburgh at Robert Morris University's downtown campus in the Adult and Continuing Education Building at 600 Fifth Avenue.
One of only five VBOCs in the nation, it offers one-to-one business counseling, mentoring, workshops, discussion groups, networking opportunities, and entrepreneurial courses to all veterans, current military personnel and spouses, and pre- and post-deployed members of the National Guard and Reserve Forces who are interested in entrepreneurship.
This program is funded in part by the Small Business Administration to serve as a clearinghouse of business and technical assistance for those interested in starting or growing a business. Utilizing Small Business Administration resource partners such as the Small Business Development Centers (SBDC), Service Corps of Retired Executives (SCORE), and others throughout the region, the VBOC is able to assist individuals through each phase of their business development.
All counseling is free.
The new Region III Veterans Business Outreach Center (administered by the Pennsylvania SBDC and serving Pennsylvania; Delaware; Washington, DC; Maryland; Virginia; and West Virginia) is seeking a seasoned business consultant for the Program Director's position. Application reviews will begin April 19. The Pennsylvania SBDC is asking for your assistance to fill this important position by publicizing it far and wide. Please click here for the position announcement.
The Veterans' Business Outreach Center, Region III, is located in the heart of Pittsburgh at Robert Morris University's downtown campus in the Adult and Continuing Education Building at 600 Fifth Avenue.
One of only five VBOCs in the nation, it offers one-to-one business counseling, mentoring, workshops, discussion groups, networking opportunities, and entrepreneurial courses to all veterans, current military personnel and spouses, and pre- and post-deployed members of the National Guard and Reserve Forces who are interested in entrepreneurship.
This program is funded in part by the Small Business Administration to serve as a clearinghouse of business and technical assistance for those interested in starting or growing a business. Utilizing Small Business Administration resource partners such as the Small Business Development Centers (SBDC), Service Corps of Retired Executives (SCORE), and others throughout the region, the VBOC is able to assist individuals through each phase of their business development.
All counseling is free.
Calling All Inventors!!
A Message from Deb Hess, Executive Director of the Minnesota Inventor's Congress;
Greetings from the Minnesota Inventors Congress. If you aren't ready to test market your idea this year, there are still many other great reasons to attend the expo:
If you are unable to open the attachment please visit our website at:
www.minnesotainventorscongress.org
and click on the "Invention & Idea Show" banner that is front and center of our home page.
Please take a few minutes to enjoy a special segment created by Our Story Productions about the MIC: http://bit.ly/micourstory
We are excited to announce a new competition for inventor exhibitors this year. Along with our traditional judging we will also be offering, to the first 75 exhibitors who are registered by May 14, 2010, the opportunity to participate in the MIC Jump$tart Competition.
Complete details will be provided to each of the qualified inventor exhibitors.
Sponsored by: Malco Design and Deliver Group. Website: www.malcod2group.com Additional sponsorship packages are available for this event. Call or email Deb Hess for details.
Here's to Inventing Success - The most important investment an inventor can make is to learn how successful inventors develop marketable products!
Best regards,
Deb Hess
Executive Director
deb@minnesotainventorscongress.org
www.minnesotainventorscongress.org
Minnesota Inventors Congress
235 S Mill Street, P O Box 71
Redwood Falls MN 56283
507.627.2344 Office * 800.468.3681 Toll Free * 507.637.4082 Fax
A Message from Deb Hess, Executive Director of the Minnesota Inventor's Congress;
Greetings from the Minnesota Inventors Congress. If you aren't ready to test market your idea this year, there are still many other great reasons to attend the expo:
- Inventing Success Workshops
- Custom Invention Plans
- networking
- 3M Visiting Wizards
- USPTO presentation
- the Minnesota Student Inventors Congress exhibit, and many, many more.
If you are unable to open the attachment please visit our website at:
www.minnesotainventorscongress.org
and click on the "Invention & Idea Show" banner that is front and center of our home page.
Please take a few minutes to enjoy a special segment created by Our Story Productions about the MIC: http://bit.ly/micourstory
We are excited to announce a new competition for inventor exhibitors this year. Along with our traditional judging we will also be offering, to the first 75 exhibitors who are registered by May 14, 2010, the opportunity to participate in the MIC Jump$tart Competition.
- 1st Stage - you will have the opportunity to pitch your product, first in a written format.
- 2nd Stage - the top 25 will be selected to present a live pitch on stage, Saturday, June 12th at the expo, to a panel of 3 judges.
- 3rd Stage - the top 5 will compete in the final round.
Complete details will be provided to each of the qualified inventor exhibitors.
Sponsored by: Malco Design and Deliver Group. Website: www.malcod2group.com Additional sponsorship packages are available for this event. Call or email Deb Hess for details.
Here's to Inventing Success - The most important investment an inventor can make is to learn how successful inventors develop marketable products!
Best regards,
Deb Hess
Executive Director
deb@minnesotainventorscongress.org
www.minnesotainventorscongress.org
Minnesota Inventors Congress
235 S Mill Street, P O Box 71
Redwood Falls MN 56283
507.627.2344 Office * 800.468.3681 Toll Free * 507.637.4082 Fax
Friday, April 2, 2010
Health Care Reform Web Chat
The Web Chat occurred on Wed. March 31st at 7pm, and some MnSBDC clients have asked if there is a taped copy they can review since they couldn't make the event work with their schedule.
The event is currently (as of April 2, 2010) archived on the Health, Human Services website at this location;
www.hhs.gov/live
By clicking on the above link, it should take you directly to the taped copy of the Web Chat.
The Web Chat occurred on Wed. March 31st at 7pm, and some MnSBDC clients have asked if there is a taped copy they can review since they couldn't make the event work with their schedule.
The event is currently (as of April 2, 2010) archived on the Health, Human Services website at this location;
www.hhs.gov/live
By clicking on the above link, it should take you directly to the taped copy of the Web Chat.
SBA 2010 SOPs
The SBA has a rolling list of SOPs they issue for their programs. Check it out to stay up-to-date with all the SBA program changes.
Click Here to go to the SBA 2010 SOP webpage.
Here's a shortened URL address to take you there;
http://bit.ly/SBA_2010_SOPs
The SBA has a rolling list of SOPs they issue for their programs. Check it out to stay up-to-date with all the SBA program changes.
Click Here to go to the SBA 2010 SOP webpage.
Here's a shortened URL address to take you there;
http://bit.ly/SBA_2010_SOPs
Wednesday, March 31, 2010
Health Care Reform Webcast
March 31, 7pm
Secretary of Health and Human Services Kathleen Sebelius and Small Business Administrator Karen Mills will host a webcast on Wednesday, March 31 at 7pm at www.HealthReform.gov to discuss the recent health care reforms and their impact on the small business community.
Participants can email their questions in advance to HealthReform@hhs.gov.
See the invitation from SBA Administrator Karen Mills below.
---
Please join Health and Human Services Secretary Kathleen Sebelius and me tomorrow, Wednesday, March 31, from 7-7:30 PM EST on www.HealthReform.gov for a live Q&A session on understanding the new health insurance reform law and its benefits for small businesses. This is the first of several regular webcasts that will cover the overall benefits and implementation of the new law, and I'm happy that this first session will have a focus on small business.
Already, I've received countless questions from small business owners about the new law and its benefits. In fact, this new law offers many tools to help small business owners access more affordable health insurance options for their employees. These tools include the creation of 50 state exchanges that will allow small business owners to access affordable health insurance plans for their employees, as well as new tax credits to help pay for this coverage.
I know you want to know what's in health insurance reform for your small business and your employees. I hope you'll join Secretary Sebelius and me to find out what's in it for you.
Warm regards,
Karen Mills
March 31, 7pm
Secretary of Health and Human Services Kathleen Sebelius and Small Business Administrator Karen Mills will host a webcast on Wednesday, March 31 at 7pm at www.HealthReform.gov to discuss the recent health care reforms and their impact on the small business community.
Participants can email their questions in advance to HealthReform@hhs.gov.
See the invitation from SBA Administrator Karen Mills below.
---
Please join Health and Human Services Secretary Kathleen Sebelius and me tomorrow, Wednesday, March 31, from 7-7:30 PM EST on www.HealthReform.gov for a live Q&A session on understanding the new health insurance reform law and its benefits for small businesses. This is the first of several regular webcasts that will cover the overall benefits and implementation of the new law, and I'm happy that this first session will have a focus on small business.
Already, I've received countless questions from small business owners about the new law and its benefits. In fact, this new law offers many tools to help small business owners access more affordable health insurance options for their employees. These tools include the creation of 50 state exchanges that will allow small business owners to access affordable health insurance plans for their employees, as well as new tax credits to help pay for this coverage.
I know you want to know what's in health insurance reform for your small business and your employees. I hope you'll join Secretary Sebelius and me to find out what's in it for you.
Warm regards,
Karen Mills
SBA Recovery Lending Extended Through April 30
WASHINGTON – President Barack Obama signed on Friday legislation extending through April the U.S. Small Business Administration’s ability to provide enhancements in its two largest 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 fee relief.
The SBA estimates the $40 million extension will support about $1.4 billion in small business lending.
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 waive 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. That funding was exhausted late Friday.
Under the new extension SBA may continue to waive loan fees and provide higher guarantee levels on 7(a) loans through April, 30, 2010, or until the funds provided under the bill are exhausted.
When the funds provided for March were exhausted, SBA reactivated the Recovery Loan Queue, as occurred in November and again in February, to cover the brief period of time before the funds from the extension become available, which should be within a few days.
Eligible small business loan applicants, in consultation with their lenders, may choose to be placed in the queue for possible approval of a Recovery Act loan when funding becomes available.
For non-Recovery Act 7(a) or 504 loans already funded during the Recovery Loan Queue period, this extension does not provide a retroactive guarantee or fee relief. 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.
# # #
From SBA PR Number: 10-08, March 29, 2010 Contact: Hayley Matz (202) 205-6948
WASHINGTON – President Barack Obama signed on Friday legislation extending through April the U.S. Small Business Administration’s ability to provide enhancements in its two largest 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 fee relief.
The SBA estimates the $40 million extension will support about $1.4 billion in small business lending.
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 waive 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. That funding was exhausted late Friday.
Under the new extension SBA may continue to waive loan fees and provide higher guarantee levels on 7(a) loans through April, 30, 2010, or until the funds provided under the bill are exhausted.
When the funds provided for March were exhausted, SBA reactivated the Recovery Loan Queue, as occurred in November and again in February, to cover the brief period of time before the funds from the extension become available, which should be within a few days.
Eligible small business loan applicants, in consultation with their lenders, may choose to be placed in the queue for possible approval of a Recovery Act loan when funding becomes available.
For non-Recovery Act 7(a) or 504 loans already funded during the Recovery Loan Queue period, this extension does not provide a retroactive guarantee or fee relief. 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.
# # #
From SBA PR Number: 10-08, March 29, 2010 Contact: Hayley Matz (202) 205-6948
Thursday, March 11, 2010
Minnesota Lender SBA Activity as of 2/28/2010
The latest report of lenders who originate SBA Backed loans is available by clicking here. Wells Fargo leads with the total dollar amount and with the total number of loans (i.e. volume).
The Minnesota SBA District Office ranks first in the nation in the number of loan guarantees and seventh in the nation in dollars of loan guarantees out of 68 district offices nationwide.
The latest report of lenders who originate SBA Backed loans is available by clicking here. Wells Fargo leads with the total dollar amount and with the total number of loans (i.e. volume).
The Minnesota SBA District Office ranks first in the nation in the number of loan guarantees and seventh in the nation in dollars of loan guarantees out of 68 district offices nationwide.
New Maximum Rates for SBA 7(a) Loans
Here is a sheet listing the maximum interest rates that may be charged for SBA 7(a) loans depending on the amount and the maturity of the loan. Click here for the information.
Here is a sheet listing the maximum interest rates that may be charged for SBA 7(a) loans depending on the amount and the maturity of the loan. Click here for the information.
Wednesday, March 10, 2010
Using Retirement Funds to fund a business start-up??
With the current difficulty in obtaining start-up funding to launch a new business venture, some budding entrepreneurs are looking at every option and alternative they can find. One potential option may be to use retirement funds you have built up over time to fund the venture. I stress this is absolutely NOT a recommendation to follow this course of action, only one of many potentials to consider and decide based on your own analysis and evaluation of the risks involved.
I found a good list of points to consider when you are considering this option from a financial services group. (Again, NOT a recommendation for or against this firm, only a useful list they have on their website). Please click here to review this list.
There is also a firm that claims it was the first one to use this tactic and has a track record in this process. You can review additional information on the process and this firm by clicking here. (Again, NOT a recommendation for or against this firm, only a useful listing of how the process works on their website)
Finally, the MnSBDC stands ready to help serious entrepreneurs to start and grow their businesses and any of our 9 regional offices can serve small business clients in the state of Minnesota. Find the location of the center nearest you by clicking here. If you are outside the state of Minnesota, please seek out your local SBDC network for assistance.
With the current difficulty in obtaining start-up funding to launch a new business venture, some budding entrepreneurs are looking at every option and alternative they can find. One potential option may be to use retirement funds you have built up over time to fund the venture. I stress this is absolutely NOT a recommendation to follow this course of action, only one of many potentials to consider and decide based on your own analysis and evaluation of the risks involved.
I found a good list of points to consider when you are considering this option from a financial services group. (Again, NOT a recommendation for or against this firm, only a useful list they have on their website). Please click here to review this list.
There is also a firm that claims it was the first one to use this tactic and has a track record in this process. You can review additional information on the process and this firm by clicking here. (Again, NOT a recommendation for or against this firm, only a useful listing of how the process works on their website)
Finally, the MnSBDC stands ready to help serious entrepreneurs to start and grow their businesses and any of our 9 regional offices can serve small business clients in the state of Minnesota. Find the location of the center nearest you by clicking here. If you are outside the state of Minnesota, please seek out your local SBDC network for assistance.
Monday, March 8, 2010
Extension of SBA Recovery Lending Programs Will Support $1.8 Billion in Small Business Lending
As noted earlier on this blog, the SBA Recovery Lending Programs were extended. For full details you can click here for the full Press Release (in PDF format) issued by the SBA on this item.
As noted earlier on this blog, the SBA Recovery Lending Programs were extended. For full details you can click here for the full Press Release (in PDF format) issued by the SBA on this item.
House Small Business Committee weighs in on SBA 2011 Budget
Rep. Nydia M. Velázquez (D-NY), the Chairwoman of the House Committee on Small Business, comments on the 2011 budget for the US Small Business Administration (SBA). This is the government entity most directly involved with helping small businesses to succeed, and small businesses are often touted as being the economic driver of the economy and the major job creator.
Here's what she noted about the budget for the SBDC;
“Entrepreneurial Development programs have a track record of solid returns. In fact, every $1 spent on these efforts puts another $2.87 back into the Treasury. Most of these programs--such as Small Business Development Centers-- are catalysts for job creation. Unfortunately, the FY2011 budget would flat fund virtually all of them. It instead invests in unproven efforts like the Emerging Leaders program, which does essentially the same thing as SBDC’s, only at twice the cost. The end result is spending $6,000 on each job created when we could be spending $3,000."
Here in Minnesota, the Minnesota Small Business Development Centers program has beat the national average listed above with a program cost per job of only $382, generating a ROI (Return on Investment) in the program of $13.14.
The full statement by Rep. Nydia M. Velázquez can be found by clicking here.
To view the 2008 Annual Report for the MnSBDC (in PDF format), please click here. (The 2009 report will be available shortly)
As always, the MnSBDC program stands ready to assist small businesses in the state of Mn to succeed, and nationwide, there is an SBDC program in each state, ready to spring to action to help small businesses succeed.
Rep. Nydia M. Velázquez (D-NY), the Chairwoman of the House Committee on Small Business, comments on the 2011 budget for the US Small Business Administration (SBA). This is the government entity most directly involved with helping small businesses to succeed, and small businesses are often touted as being the economic driver of the economy and the major job creator.
Here's what she noted about the budget for the SBDC;
“Entrepreneurial Development programs have a track record of solid returns. In fact, every $1 spent on these efforts puts another $2.87 back into the Treasury. Most of these programs--such as Small Business Development Centers-- are catalysts for job creation. Unfortunately, the FY2011 budget would flat fund virtually all of them. It instead invests in unproven efforts like the Emerging Leaders program, which does essentially the same thing as SBDC’s, only at twice the cost. The end result is spending $6,000 on each job created when we could be spending $3,000."
Here in Minnesota, the Minnesota Small Business Development Centers program has beat the national average listed above with a program cost per job of only $382, generating a ROI (Return on Investment) in the program of $13.14.
The full statement by Rep. Nydia M. Velázquez can be found by clicking here.
To view the 2008 Annual Report for the MnSBDC (in PDF format), please click here. (The 2009 report will be available shortly)
As always, the MnSBDC program stands ready to assist small businesses in the state of Mn to succeed, and nationwide, there is an SBDC program in each state, ready to spring to action to help small businesses succeed.
Thursday, March 4, 2010
BBB calling for nominations for its 11th annual Integrity Awards
The Better Business Bureau of Minnesota and North Dakota (BBB) is calling for nominations for its eleventh annual Integrity Awards. The BBB Integrity Award recognizes companies that display outstanding ethics in dealings with customers, employees, vendors and the community. All for-profit businesses of any size, owned or operated in Minnesota or North Dakota, are eligible. Nominees must have a satisfactory rating with the BBB; however membership is not a requirement to compete for the award. The nomination deadline is April 30th, 2010.
Companies can be nominated by visiting www.thefirstbbb.org, or by sending the company name, contact name, address and phone number, along with the nominator’s name and phone number to BBB, Attn: Integrity Awards, 2706 Gannon Rd., St. Paul, MN 55116; or faxing the information to 651-699-7665.
Entrants are judged on four areas of their business:
Once nominated, the nominee will receive an official entry form from the BBB. An independent panel of judges will decide the award finalists and recipients. Winners will be announced live at the BBB's 2010 Integrity Awards in October (details to follow). Winners will also be recognized in Integrity Awards publicity and will be eligible to compete for the National BBB Torch Award for Marketplace Ethics.
For more information on the Better Business Bureau, visit the Bureau’s Web site at www.thefirstbbb.org or call 651-699-1111, toll-free 800-646-6222.
The Better Business Bureau of Minnesota and North Dakota (BBB) is calling for nominations for its eleventh annual Integrity Awards. The BBB Integrity Award recognizes companies that display outstanding ethics in dealings with customers, employees, vendors and the community. All for-profit businesses of any size, owned or operated in Minnesota or North Dakota, are eligible. Nominees must have a satisfactory rating with the BBB; however membership is not a requirement to compete for the award. The nomination deadline is April 30th, 2010.
Companies can be nominated by visiting www.thefirstbbb.org, or by sending the company name, contact name, address and phone number, along with the nominator’s name and phone number to BBB, Attn: Integrity Awards, 2706 Gannon Rd., St. Paul, MN 55116; or faxing the information to 651-699-7665.
Entrants are judged on four areas of their business:
- management practices;
- customer/vendor/supplier/shareholder relations;
- marketing/advertising/communications/sales practices;
- and reputation within their industry/community.
Once nominated, the nominee will receive an official entry form from the BBB. An independent panel of judges will decide the award finalists and recipients. Winners will be announced live at the BBB's 2010 Integrity Awards in October (details to follow). Winners will also be recognized in Integrity Awards publicity and will be eligible to compete for the National BBB Torch Award for Marketplace Ethics.
For more information on the Better Business Bureau, visit the Bureau’s Web site at www.thefirstbbb.org or call 651-699-1111, toll-free 800-646-6222.
SBA Stimulus Loans Reauthorized
The President signed a bill on 3/2/2010 that reauthorizes the expired 90-percent guarantee on the S.B.A.’s general business loans through March 28th. The $60 million appropriation funds this higher guarantee and eliminates borrower fees for both the 7(a) and the 504 loan program.
The President signed a bill on 3/2/2010 that reauthorizes the expired 90-percent guarantee on the S.B.A.’s general business loans through March 28th. The $60 million appropriation funds this higher guarantee and eliminates borrower fees for both the 7(a) and the 504 loan program.
Friday, February 26, 2010
State of Manufacturing in MN
Enterprise Minnesota, the premier service provider that works with manufacturing organizations in the State of Minnesota, has issued their Second Annual "State of Manufacturing" survey.
The good news is that the survey turned up a more optimistic outlook by this industry sector compared to a year ago. The less than good news is that some obstacles remain to be addressed, including access to credit, the general business environment, and health care costs among others.
For the full results, you can click here to go to the Enterprise Minnesota website.
In addition, a hard copy is available for sale through Amazon by clicking here.
Enterprise Minnesota, the premier service provider that works with manufacturing organizations in the State of Minnesota, has issued their Second Annual "State of Manufacturing" survey.
The good news is that the survey turned up a more optimistic outlook by this industry sector compared to a year ago. The less than good news is that some obstacles remain to be addressed, including access to credit, the general business environment, and health care costs among others.
For the full results, you can click here to go to the Enterprise Minnesota website.
In addition, a hard copy is available for sale through Amazon by clicking here.
Thursday, February 25, 2010
Get in Line! (for the SBA Backed Small Business Loans)
The funding for the enhanced SBA guaranteed small business loans ran out Friday, February 19, 2010 and its time to get in line and hope they will restart with additional funding from Congress.
Similar to what happened in November 2009 when the SBA Recovery Loan program ran out of its original allotment of $375 million, there is an additional appropriation awaiting congressional approval - it passed the House and is stalled in the Senate.
The last time this happened the extra $175 million lasted until last Friday, February 19. The SBA has seen a dramatic increase in the average weekly loan volume, increasing by nearly 90% since February 2009, so the lending is helping the small business market to get back on their feet.
The advantage of getting in line for the enhanced loans is the higher guarantee amount (attractive to the lending institution), and in some cases waived fees.
After you get in line, you can watch the loan que here on the SBA website.
The funding for the enhanced SBA guaranteed small business loans ran out Friday, February 19, 2010 and its time to get in line and hope they will restart with additional funding from Congress.
Similar to what happened in November 2009 when the SBA Recovery Loan program ran out of its original allotment of $375 million, there is an additional appropriation awaiting congressional approval - it passed the House and is stalled in the Senate.
The last time this happened the extra $175 million lasted until last Friday, February 19. The SBA has seen a dramatic increase in the average weekly loan volume, increasing by nearly 90% since February 2009, so the lending is helping the small business market to get back on their feet.
The advantage of getting in line for the enhanced loans is the higher guarantee amount (attractive to the lending institution), and in some cases waived fees.
After you get in line, you can watch the loan que here on the SBA website.
Social Media Toolkit
The MnSBDC Professional Business Consultant team often gets requests from small business clients on how to enter the world of 'Social Media', such as blogging and social networking. Inc online has a great toolkit to introduce you to this world with a range of articles, all gathered in one toolkit.
Please click here to go to that resource.
The MnSBDC Professional Business Consultant team often gets requests from small business clients on how to enter the world of 'Social Media', such as blogging and social networking. Inc online has a great toolkit to introduce you to this world with a range of articles, all gathered in one toolkit.
Please click here to go to that resource.
Monday, February 22, 2010
*FREE* Webinar for Youth Entreprenures
SBA Offers Free Youthpreneur Webinar Series to Promote Entrepreneurship and Financial Literacy
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Recognizes National Entrepreneurship Week & America Saves Week
February 20-28, 2010
WHAT: The U.S. Small Business Administration will host a series of Youthpreneur Webinars in recognition of National Entrepreneurship Week and America Saves Week. The topics will emphasis youth entrepreneurship and engage the next generation of small business owners in skills building and financial empowerment. They will be able to learn the basics of entrepreneurship, strategies for today’s business world, and using social networking to advance business ideas.
WHEN: February 23-25, 2010
Daily, 11:00 a.m. and 3:00 p.m. (ET)
WHO: Be inspired and learn from some of the best in business and entrepreneurship.
Webinar presenters and topics include:
Jennifer Matthews, President and CEO
Creating Financial Literacy, LLC
Topic: Why My Credit Score Matters NOW
Tuesday, February 23 at 11:00 a.m.
Vince Shorb, President, The National Youth Financial Educator’s Council (NYFEC)
Topic: Financial Education/Entrepreneurship
Tuesday, February 23 at 3:00 p.m.
Steven Harris, President
JS Investment Group
Topic: Youth Entrepreneurship and Financial Literacy
Wednesday, February 24 at 11:00 a.m.
Michael Simmons, Co-Founder & CEO, Extreme Entrepreneurship Tour
Topic: Why Every Student Should Be an Entrepreneur
Wednesday, February 24 at 3:00 p.m.
Shonika Proctor, CEO, Renegade CEO’s
Topic: Me…Myself...and Why? A Business Roadmap for Determined Teens Who are Making Their Way
Thursday, February 25 at 11:00 a.m.
Jason Duff, Founder and CEO, Community Storage & Properties, LTD and COMSTOR Outdoor, LTD
Topic: How to Leverage Top Internet Tools to Grow and Market Your Business
at No Cost
Thursday, February 25 at 3:00 p.m.
HOW: For free visual and audio access to the Webinar go to www.ReadyTalk.com
Click “join a meeting” and enter access code 3761101
Then dial 866.740.1260 and enter access code 3761101 (plus the #key)
System Requirements:
- Windows, Mac, Linux and Solaris operating systems
- Internet Explorer, Safari and Firefox Web browsers
- Separate telephone line needed for the audio portion
For more information Contact: Cecelia Taylor (202) 401-3059 Advisory Number: MA10-02 Internet Address: http://www.sba.gov/news
SBA Offers Free Youthpreneur Webinar Series to Promote Entrepreneurship and Financial Literacy
---
Recognizes National Entrepreneurship Week & America Saves Week
February 20-28, 2010
WHAT: The U.S. Small Business Administration will host a series of Youthpreneur Webinars in recognition of National Entrepreneurship Week and America Saves Week. The topics will emphasis youth entrepreneurship and engage the next generation of small business owners in skills building and financial empowerment. They will be able to learn the basics of entrepreneurship, strategies for today’s business world, and using social networking to advance business ideas.
WHEN: February 23-25, 2010
Daily, 11:00 a.m. and 3:00 p.m. (ET)
WHO: Be inspired and learn from some of the best in business and entrepreneurship.
Webinar presenters and topics include:
Jennifer Matthews, President and CEO
Creating Financial Literacy, LLC
Topic: Why My Credit Score Matters NOW
Tuesday, February 23 at 11:00 a.m.
Vince Shorb, President, The National Youth Financial Educator’s Council (NYFEC)
Topic: Financial Education/Entrepreneurship
Tuesday, February 23 at 3:00 p.m.
Steven Harris, President
JS Investment Group
Topic: Youth Entrepreneurship and Financial Literacy
Wednesday, February 24 at 11:00 a.m.
Michael Simmons, Co-Founder & CEO, Extreme Entrepreneurship Tour
Topic: Why Every Student Should Be an Entrepreneur
Wednesday, February 24 at 3:00 p.m.
Shonika Proctor, CEO, Renegade CEO’s
Topic: Me…Myself...and Why? A Business Roadmap for Determined Teens Who are Making Their Way
Thursday, February 25 at 11:00 a.m.
Jason Duff, Founder and CEO, Community Storage & Properties, LTD and COMSTOR Outdoor, LTD
Topic: How to Leverage Top Internet Tools to Grow and Market Your Business
at No Cost
Thursday, February 25 at 3:00 p.m.
HOW: For free visual and audio access to the Webinar go to www.ReadyTalk.com
Click “join a meeting” and enter access code 3761101
Then dial 866.740.1260 and enter access code 3761101 (plus the #key)
System Requirements:
- Windows, Mac, Linux and Solaris operating systems
- Internet Explorer, Safari and Firefox Web browsers
- Separate telephone line needed for the audio portion
For more information Contact: Cecelia Taylor (202) 401-3059 Advisory Number: MA10-02 Internet Address: http://www.sba.gov/news
Calling all Inventors!
The Minnesota Inventors Congress (MIC) is involved in 3 major events taking place during the month of March for inventors.
1. Global Inventors Conference. A one day workshop designed for the inventor who wants to learn how to develop a marketable product. Attend in person or online.
www.minnesotainventorscongress.org
Saturday, March 6, 2010
9 - 5 (Online attendees - time will vary depending on your time zone) Oahu Veterans Center Honolulu Hawaii Registration deadline:
In Person: Walk ins welcome
Online registration deadline is Monday, March 1, 2010, at 5:00 p.m.
2. Lake Superior Business to Business Expo http://www.duluthbusinessexpo.com Wednesday, March 17, 2010
9 - 5
Duluth Entertainment Convention Center
Duluth MN
Stop by their booth and say hello
3. MN Marketplace for Entrepreneurs
www.mnmarketplace.org
Tuesday, March 30, 2010
12:30 - 7
Verizon Wireless Center
Mankato MN
Free exhibitor booths for entrepreneurs.
4 Inventing Success Workshops:
Inventors most important investment – Deb Hess, MN Inventors Congress Patent Law: A Business Perspective – Roger Belfay, patent attorney How I Became the “Needle Lady” - Pam Turner, Inventor Best Practices for New Product Development – David Clark of Malco Design and Deliver Group Register today.
For more information, please contact;
Deb Hess, Executive Director
deb@minnesotainventorscongress.org
www.minnesotainventorscongress.org
Minnesota Inventors Congress
235 S Mill Street, P O Box 71
Redwood Falls MN 56283
507.627.2344 Office * 800.468.3681 Toll Free * 507.637.4082 Fax
Don't forget the premier event for Inventors - 53rd Annual event: Invention & Idea Show - June 11 & 12, 2010 in Redwood Falls, MN.
The Minnesota Inventors Congress (MIC) is involved in 3 major events taking place during the month of March for inventors.
1. Global Inventors Conference. A one day workshop designed for the inventor who wants to learn how to develop a marketable product. Attend in person or online.
www.minnesotainventorscongress.org
Saturday, March 6, 2010
9 - 5 (Online attendees - time will vary depending on your time zone) Oahu Veterans Center Honolulu Hawaii Registration deadline:
In Person: Walk ins welcome
Online registration deadline is Monday, March 1, 2010, at 5:00 p.m.
2. Lake Superior Business to Business Expo http://www.duluthbusinessexpo.com Wednesday, March 17, 2010
9 - 5
Duluth Entertainment Convention Center
Duluth MN
Stop by their booth and say hello
3. MN Marketplace for Entrepreneurs
www.mnmarketplace.org
Tuesday, March 30, 2010
12:30 - 7
Verizon Wireless Center
Mankato MN
Free exhibitor booths for entrepreneurs.
4 Inventing Success Workshops:
Inventors most important investment – Deb Hess, MN Inventors Congress Patent Law: A Business Perspective – Roger Belfay, patent attorney How I Became the “Needle Lady” - Pam Turner, Inventor Best Practices for New Product Development – David Clark of Malco Design and Deliver Group Register today.
For more information, please contact;
Deb Hess, Executive Director
deb@minnesotainventorscongress.org
www.minnesotainventorscongress.org
Minnesota Inventors Congress
235 S Mill Street, P O Box 71
Redwood Falls MN 56283
507.627.2344 Office * 800.468.3681 Toll Free * 507.637.4082 Fax
Don't forget the premier event for Inventors - 53rd Annual event: Invention & Idea Show - June 11 & 12, 2010 in Redwood Falls, MN.
Thursday, February 18, 2010
SBA To Honor the Nation’s Small Businesses During National Small Business Week; May 23-25, 2010
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WASHINGTON – The nation’s top entrepreneurs will be honored at the U.S. Small Business Administration’s National Small Business Week events to be held May 23-25, in Washington, D.C. A series of events and educational forums will mark the 57th anniversary of the agency and the 47th annual proclamation of National Small Business Week.
Men and women also will be recognized for their involvement in disaster recovery, government contracting, and their support for small businesses and entrepreneurship. Awards also will be presented to SBA partners in financial and entrepreneurial development, including best SCORE Chapter, Small Business Development Center and Women’s Business Center during 2009.
The State Small Business Award Winners and recipients of the Champion and other Entrepreneurial awards are nominated by local trade associations, chambers of commerce, other business organizations and government agencies. Co-Sponsors include: SCORE – Counselors to America’s Small Business; VISA; Ford; Administaff; Google; eBay; Raytheon; Cbeyond; Intuit; Northrop Grumman; Lockheed Martin; Verio; NADCO and NAGGL.
Additional information on the Small Business Week 2010 events is available at www.nationalsmallbusinessweek.com.
# # #
Summarized from SBA Release Number: 10-02 Contact: Dennis Byrne (202) 205-6567
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WASHINGTON – The nation’s top entrepreneurs will be honored at the U.S. Small Business Administration’s National Small Business Week events to be held May 23-25, in Washington, D.C. A series of events and educational forums will mark the 57th anniversary of the agency and the 47th annual proclamation of National Small Business Week.
Men and women also will be recognized for their involvement in disaster recovery, government contracting, and their support for small businesses and entrepreneurship. Awards also will be presented to SBA partners in financial and entrepreneurial development, including best SCORE Chapter, Small Business Development Center and Women’s Business Center during 2009.
The State Small Business Award Winners and recipients of the Champion and other Entrepreneurial awards are nominated by local trade associations, chambers of commerce, other business organizations and government agencies. Co-Sponsors include: SCORE – Counselors to America’s Small Business; VISA; Ford; Administaff; Google; eBay; Raytheon; Cbeyond; Intuit; Northrop Grumman; Lockheed Martin; Verio; NADCO and NAGGL.
Additional information on the Small Business Week 2010 events is available at www.nationalsmallbusinessweek.com.
# # #
Summarized from SBA Release Number: 10-02 Contact: Dennis Byrne (202) 205-6567
Monday, February 8, 2010
Latest in a Series of New Small Business Proposals by President Obama
1. Expand SBA’s existing 504 program to temporarily support refinancing for owner-occupied commercial real estate loans:
The Administration is proposing legislation to temporarily allow for the refinancing of owner-occupied commercial real estate (CRE) loans under the SBA’s 504 program, which provides guarantees on loans for the development of real estate and other fixed assets. Currently, 504 loans cannot be used for the refinancing of maturing debt. This change would respond to the difficulties many current, solvent borrowers face in refinancing existing commercial real estate loans.
Businesses with a loan maturing in the next year who are current on all loan payments will be eligible. Lenders that are refinancing mortgages for existing customers will make a loan for up to 70 percent of the current property value; and SBA will help finance the remaining 20 percent. For new lenders taking on a refinancing project, SBA will take on a greater share of financing, up to 40 percent.
2. Temporarily increase the cap on SBA Express loans from $350,000 to $1 million:
The President is proposing to temporarily increase the maximum SBA Express loan size to $1 million, which would expand the program’s ability to help a broad range of small businesses through a streamlined approval process. Unlike traditional 7(a) loans, lenders can use their own paperwork for SBA Express loans, which can be structured as revolving lines of credit. Currently, these Express loans are capped at $350,000 and carry a 50 percent guarantee. Fees would cover virtually all of the added costs of this proposal.
These proposals complement the President’s broader small business agenda - a key part of his overall jobs plan. The other elements of the small business agenda include:
• Extending small business expensing and bonus depreciation for 2010. Eliminating capital gains taxes for small businesses in 2010.
• A Small Business Jobs and Wages Tax Credit that would cut taxes for more than 1 million small businesses by paying up to $5,000 for every net new job and covers payroll taxes on overall wage increases in excess of inflation.
• A proposal to transfer, through legislation, $30 billion to a new Small Business Lending Fund that will support lending by community and smaller banks.
• Additional SBA lending proposals, including an extension of the Recovery Act programs that eliminate fees and raise guarantees on SBA’s two largest loan programs and permanent increases in the maximum loan sizes for major SBA programs.
1. Expand SBA’s existing 504 program to temporarily support refinancing for owner-occupied commercial real estate loans:
The Administration is proposing legislation to temporarily allow for the refinancing of owner-occupied commercial real estate (CRE) loans under the SBA’s 504 program, which provides guarantees on loans for the development of real estate and other fixed assets. Currently, 504 loans cannot be used for the refinancing of maturing debt. This change would respond to the difficulties many current, solvent borrowers face in refinancing existing commercial real estate loans.
Businesses with a loan maturing in the next year who are current on all loan payments will be eligible. Lenders that are refinancing mortgages for existing customers will make a loan for up to 70 percent of the current property value; and SBA will help finance the remaining 20 percent. For new lenders taking on a refinancing project, SBA will take on a greater share of financing, up to 40 percent.
2. Temporarily increase the cap on SBA Express loans from $350,000 to $1 million:
The President is proposing to temporarily increase the maximum SBA Express loan size to $1 million, which would expand the program’s ability to help a broad range of small businesses through a streamlined approval process. Unlike traditional 7(a) loans, lenders can use their own paperwork for SBA Express loans, which can be structured as revolving lines of credit. Currently, these Express loans are capped at $350,000 and carry a 50 percent guarantee. Fees would cover virtually all of the added costs of this proposal.
These proposals complement the President’s broader small business agenda - a key part of his overall jobs plan. The other elements of the small business agenda include:
• Extending small business expensing and bonus depreciation for 2010. Eliminating capital gains taxes for small businesses in 2010.
• A Small Business Jobs and Wages Tax Credit that would cut taxes for more than 1 million small businesses by paying up to $5,000 for every net new job and covers payroll taxes on overall wage increases in excess of inflation.
• A proposal to transfer, through legislation, $30 billion to a new Small Business Lending Fund that will support lending by community and smaller banks.
• Additional SBA lending proposals, including an extension of the Recovery Act programs that eliminate fees and raise guarantees on SBA’s two largest loan programs and permanent increases in the maximum loan sizes for major SBA programs.
Thursday, February 4, 2010
Economic Clusters as a means to growth
One idea that is firmly entrenched in current economic development thinking is the idea of 'economic clusters' - related firms that build on and leverage a specific skill set or market segment. One definition (there are many) comes from the Harvard Business School's Institute for Strategy and Competitiveness; "Clusters are geographic concentrations of interconnected companies, specialized suppliers, service providers, and associated institutions in a particular field that are present in a nation or region. Clusters arise because they increase the productivity with which companies can compete."
In the 2011 budget request, the concept of economic clusters is seeded throughout various agencies. This has potential to blossom into new jobs, and only time will tell if the concept passes the budget review process and is successfully implemented by the agencies. The New Republic provides a useful summary of the agencies and the amounts, along with hyperlinks to the specific agency budgets. Here is the link to that article.
One idea that is firmly entrenched in current economic development thinking is the idea of 'economic clusters' - related firms that build on and leverage a specific skill set or market segment. One definition (there are many) comes from the Harvard Business School's Institute for Strategy and Competitiveness; "Clusters are geographic concentrations of interconnected companies, specialized suppliers, service providers, and associated institutions in a particular field that are present in a nation or region. Clusters arise because they increase the productivity with which companies can compete."
In the 2011 budget request, the concept of economic clusters is seeded throughout various agencies. This has potential to blossom into new jobs, and only time will tell if the concept passes the budget review process and is successfully implemented by the agencies. The New Republic provides a useful summary of the agencies and the amounts, along with hyperlinks to the specific agency budgets. Here is the link to that article.
Minnesota District Office ranks first in the nation in number of loan guarantees and seventh in the nation in dollars of loan guarantees out of 68 district offices nationwide.
While small business lending by large banks is down, SBA backed small business loans continue to help the small business community to survive. This Wall Street Journal article notes that; "The top 22 largest lenders under the government's Troubled Asset Relief Program approved $6.9 billion in loans in November, down 7.4% from April."
The Minnesota District Office continues to turn in an impressive record, and note that in MN the two top spots on the list are held by large banks; Wells Fargo and US Bank. Here's the full details.
While small business lending by large banks is down, SBA backed small business loans continue to help the small business community to survive. This Wall Street Journal article notes that; "The top 22 largest lenders under the government's Troubled Asset Relief Program approved $6.9 billion in loans in November, down 7.4% from April."
The Minnesota District Office continues to turn in an impressive record, and note that in MN the two top spots on the list are held by large banks; Wells Fargo and US Bank. Here's the full details.
Tuesday, February 2, 2010
What Trends will impact Small Business this year?
Predicting the future is a favorite past-time, especially at the start of a year. Understanding trends is a bit more useful for trying to figure out where the small businesses that the MnSBDC serve may be impacted.
Here's an interesting article from US News and World report that lists "21 Things We're Learning to Live Without". By studying this list, you may be able to better prepare for the potential impact on small businesses. There are also interesting 'hyperlinks' scattered throughout the article that lead to additional stories on selected topics.
So - ready to predict the future?
Predicting the future is a favorite past-time, especially at the start of a year. Understanding trends is a bit more useful for trying to figure out where the small businesses that the MnSBDC serve may be impacted.
Here's an interesting article from US News and World report that lists "21 Things We're Learning to Live Without". By studying this list, you may be able to better prepare for the potential impact on small businesses. There are also interesting 'hyperlinks' scattered throughout the article that lead to additional stories on selected topics.
So - ready to predict the future?
Sunday, January 31, 2010
Purchase Order Financing
Since the 'Big Banks' have reduced lending to small businesses, they have turned to alternative means to raise funds. In addition to credit cards (credit lines reduced by the same Big Banks), pawnshops and 'payday' lenders, small business owners are discovering 'purchase order financing'. Similar to 'factoring' where a firm sells its invoice (at a discount) to raise quick cash, purchase order financing are guarantees, written by the buyer, that they are committed to purchase a product. Useful especially with off-shore manufacturing, the business owner would typically pay the factory to manufacture the goods, but in purchase order financing, the money firm instead pays to have the finished products shipped from the factory. Once the money firm is paid, they take their cut and gives the balance to the small business owner.
Why has this form of expensive financing gained popularity? The inability of small businesses to borrow from the lending institutions they use to reliably borrow from, prior to the current economic downturn.
Here's the latest report by the US Treasury that tracks this downturn in lending.
Here's a news story from the New York Times that lists this trend in more detail.
Since the 'Big Banks' have reduced lending to small businesses, they have turned to alternative means to raise funds. In addition to credit cards (credit lines reduced by the same Big Banks), pawnshops and 'payday' lenders, small business owners are discovering 'purchase order financing'. Similar to 'factoring' where a firm sells its invoice (at a discount) to raise quick cash, purchase order financing are guarantees, written by the buyer, that they are committed to purchase a product. Useful especially with off-shore manufacturing, the business owner would typically pay the factory to manufacture the goods, but in purchase order financing, the money firm instead pays to have the finished products shipped from the factory. Once the money firm is paid, they take their cut and gives the balance to the small business owner.
Why has this form of expensive financing gained popularity? The inability of small businesses to borrow from the lending institutions they use to reliably borrow from, prior to the current economic downturn.
Here's the latest report by the US Treasury that tracks this downturn in lending.
Here's a news story from the New York Times that lists this trend in more detail.
Tuesday, January 12, 2010
SBA, Dell Launch New Educational Video Series to Help Small Businesses Grow, Create Jobs
WASHINGTON – Highlighting the experiences of successful entrepreneurs, the U.S. Small Business Administration and Dell today launched an online video series offering tools and strategies to help small business owners rebound from the economic recession and put themselves in a position to expand and create jobs.
Strategies for Growth: Advice for Expanding Your Business includes real-world insight, solutions and advice from small business owners who’ve succeeded, in good and bad economic times. Additionally, the series draws on the expertise of counselors, policy makers and others for accessing resources and tools available to small business owners.
The Strategies for Growth video series highlights key topics that engage small business owners in issues critical to small business growth. These areas include Planning for Growth, Government Contracting, Team Building, Marketing, Technology, Exporting Opportunities, and Disaster Recovery. Also featured is a Profiles of Success segment that spotlights two successful entrepreneurs.
The Strategies for Growth video series features a range of growing small businesses from across the country, including a design firm, a vegetarian restaurant and bakery, and a green construction company. They are:
Strategies for Growth is available on the SBA’s Web site at www.sba.gov/StrategiesForSuccess and at the SBA’s YouTube channel at www.YouTube.com/sba. Each topic is indexed by subject and includes additional resources for entrepreneurs.
SBA Release Number: 09-82
WASHINGTON – Highlighting the experiences of successful entrepreneurs, the U.S. Small Business Administration and Dell today launched an online video series offering tools and strategies to help small business owners rebound from the economic recession and put themselves in a position to expand and create jobs.
Strategies for Growth: Advice for Expanding Your Business includes real-world insight, solutions and advice from small business owners who’ve succeeded, in good and bad economic times. Additionally, the series draws on the expertise of counselors, policy makers and others for accessing resources and tools available to small business owners.
The Strategies for Growth video series highlights key topics that engage small business owners in issues critical to small business growth. These areas include Planning for Growth, Government Contracting, Team Building, Marketing, Technology, Exporting Opportunities, and Disaster Recovery. Also featured is a Profiles of Success segment that spotlights two successful entrepreneurs.
The Strategies for Growth video series features a range of growing small businesses from across the country, including a design firm, a vegetarian restaurant and bakery, and a green construction company. They are:
- Grace Dittmar, Trusted Mission Solutions of McLean, Va.
- Warren Brown, CakeLove of Washington, D.C.
- Don Matzkin and Anthony Bracali, Friday Architects of Philadelphia, Pa.
- Juan and Luis Yépez, Mainstream Global of Lawrence, Mass.
- Ann-Marie Harrington, Embolden of Pawtucket, R.I.
- Laurie Benson, Inacom of Madison, Wis.
- Bryan Vulcan, FourFront Design of Rapid City, S.D.
- Avinash Rachmale, Lakeshore Engineering of Detroit, Mich.
- Jenna Sellmeyer and Jennifer Fogg, ASSET Group of Oklahoma City, Okla.
- Jesus & Luisa Mendoza, Mr. Natural of Austin, Texas
- Andrew Kruse, Southwest Windpower of Flagstaff, Ariz.
- Mary Tappouni, Breaking Ground Construction of Jacksonville, Fla.
Strategies for Growth is available on the SBA’s Web site at www.sba.gov/StrategiesForSuccess and at the SBA’s YouTube channel at www.YouTube.com/sba. Each topic is indexed by subject and includes additional resources for entrepreneurs.
SBA Release Number: 09-82
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