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7 12, 2020

The Families First Coronavirus Response Act 

By |2020-12-04T22:36:25+00:00December 7th, 2020|COVID-19, Small Business|0 Comments

In response to COVID-19 the federal government set up the Families First Coronavirus Response Act (FFCRA) in March 2020. This Act is effective through December 31, 2020 and provides, among other things, paid sick leave to employees. The Act maintains certain requirements to qualify:  Businesses are granted funds as long as they have less than 500 employees.   Workers will not have to pick between paychecks and public health measures.  Workers can receive up to 80 hours of paid sick leave as well as an additional 10 weeks of paid family leave to care for a child.   Provides business with refundable tax credits.   Consult your Chamber of Commerce or attorney for more details but, in general, FFCRA requires that employers offer the following:  Up to 80 hours of paid sick leave if an employee is unable to work because of coronavirus - pay rates differ based on if the employee is sick or quarantined or if the employee needs to care for someone (family member, dependent, etc.)    For more details, visit the Department of Labor website (https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave)  The complexities of this Act [...]

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21 10, 2020

Ready to Reopen? How to Ensure a Successful Re-Opening for Your Small Business.

By |2020-10-21T21:51:57+00:00October 21st, 2020|Business Tips, COVID-19, Small Business|0 Comments

If there is one thing we have learned from this year, it is that we should expect the unexpected. The COVID-19 pandemic shook business owners and consumers alike when it forced businesses to temporarily close their doors until the unforeseeable future. Now, as we see some of our favorite shops begin to open again, business owners can start to think about how they can ensure that their reopening is successful. Assess your Business’ Needs Consider your operational needs. To do this, ask yourself the following questions: What will my staffing requirements be when I open? What customer/employee questions or concerns will I need to address? What is possible for my business?  Most businesses will find themselves in a situation where they cannot pick up where they left off. By addressing these questions, you can start to think about the realistic changes you will need to make before you reopen. Learn from Others Businesses around you are probably going through the same challenges. Take a moment to connect with your neighboring shops and learn how they have adapted their businesses during [...]

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20 08, 2020

How Can You Support Small Businesses During COVID-19

By |2020-07-30T23:38:31+00:00August 20th, 2020|Bookkeeping Basics, Business Tips, COVID-19, Finance Tips, Small Business|0 Comments

The coronavirus pandemic has disrupted every aspects of normal life. From school structure to to human interaction to business operations. One area that feels this disruption deeply is the small business sector. Across the country, small businesses are struggling to keep doors open. They are innovating and rapidly changing their business model in order to continue servicing clients and generate revenue.  According to the US Small Business Administration’s Office Advocacy, small businesses generate 44% of U.S. economic activity. To support this important sector of the economy, here are suggestions for ways to help:  Gift cards and take out are a great help. The food and beverage industry is greatly impacted. In some areas, only outdoor dining and/or take out options are available. This greatly diminishes the money generated in an already low margin industry. Consider purchasing gift cards or ordering from your favorite neighborhood eatery.   Shop Local. Many local retailers have pivoted to either build a more robust online store or offer products online for the first time.  When you are buying the next round of home goods, staples, groceries, and more, consider purchasing [...]

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26 06, 2020

Update: Economic Injury Disaster Loan (EIDL) Now Taking New Applications

By |2020-06-26T21:01:28+00:00June 26th, 2020|Business Tips, COVID-19, Small Business|0 Comments

It is uplifting to hear positive news in the midst of these concerning times. Two months after the SBA stopped accepting EIDL applications, they have opened them to the public once more. As of June 15, 2020 the SBA began accepting new EIDL applications which now include agriculture businesses.  Agriculture businesses are referred to as businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries.  You can access the application and specific information here. If you are not familiar with the Economic Injury Disaster Loan, it is an existing program administered through the U.S. Small Business Administration (SBA) offering emergency relief to businesses. Due to the impact of the COVID-19 pandemic, the program has expanded. Previously, only small businesses in presidentially-declared disaster locations were eligible to apply for the loan. However, as of March 13, 2020 these locations have expanded to include the entire United States, its territories, and Washington D.C..   The SBA allows qualified small business owners and agricultural businesses to apply for the Economic Injury Disaster Loan (EIDL). COVID-19 related loans [...]

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15 06, 2020

Reopening Your Business after Quarantine

By |2020-06-08T18:03:38+00:00June 15th, 2020|Business Tips, COVID-19, Small Business|0 Comments

Many of us have felt the negative impacts brought forth by the coronavirus. Although the continual effects of the coronavirus are still uncertain, some business owners are beginning to plan to reopen, or already have.  If you are in the planning process, what are the next steps to prepare for reopening.  What does that look like? Here are a few tips for business owners who are looking to reopen and resume business. Resume Social Distancing – As states and cities across America begin to lift quarantine, each region will have its own pace and restrictions. Make sure you are knowledgeable about the laws and restrictions that are relevant to your location, as well as your customers’ locations. If employees are returning to the office, make sure your business is in compliance with CDC standards to ensure the health and safety of your workers. Find more information from the CDC: https://www.cdc.gov/coronavirus/2019-ncov/community/organizations/businesses-employers.html Continue Regular Cleaning – Consider adding more sanitation stations, such as installing sanitizer dispensers at your building’s entryways and bathrooms. Increase sanitation of high-traffic areas, such as doorknobs, desks, printers, [...]

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11 05, 2020

Business Success During COVID-19

By |2020-05-04T22:14:20+00:00May 11th, 2020|Business Tips, COVID-19, Finance Tips, Small Business, Technology|0 Comments

As we settle into routines and adjust to working from home, it is important to set strategies and maintain consistency to ensure your business is maximizing success during the quarantine. The presence of COVID-19 has brought unique challenges for business owners. While many things remain the same, some elements require extra attention to ensure business success. Here are a few tips to stay productive, stimulate team motivation, and ensure overall business success. Keep a close eye on deadlines. Although we are in a country-wide crisis, it is still important to mind your deadlines. Stay conscious of credit card bills, loan payments, tax payments, and utility bills. The last thing you want is to miss a deadline and build late penalties during the crisis. Commit to check-ins. Make a commitment to virtually check in regularly with your employees. Stay involved with their projects through video meetings and screen sharing through Google Hangouts or Zoom meetings. This helps your team stay focused and shows your employees that you are involved and interested in their work. Create multiple channels of communication to ensure [...]

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4 05, 2020

PPP Loan for Business Owners

By |2020-05-04T22:09:24+00:00May 4th, 2020|Business Tips, COVID-19, Finance Tips, Small Business|0 Comments

The onset of COVID-19 has brought challenges for the entire economy, effecting business owners and employees alike. Thankfully, the Paycheck Protection Program (PPP) Loan has been allocated to businesses and sole proprietors who need support during COVID-19. The PPP specifically helps businesses keep their workforce employed during the crisis. Although the first round of the PPP was exhausted in only 13 days, a second round from the SBA with an additional $310 billion of funding was issued on 4/27. If you haven’t yet applied, do so now. Here are a few things to know about the program: Qualifications: You can apply for a loan if you are a small business that meets SBA’s size standards, sole proprietor, independent contractor, self-employed person, or a non-profit organization. Where to Obtain: When the funds are available, apply for a PPP loan through any of the 1,800 participating SBA approved lenders or through any participating federally insured depository institution, federally insured credit union, and Farm Credit System institution. Loan Forgiveness: Loans will be fully forgiven if used for eligible uses, including payroll costs, interest [...]

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