Survey: SBDC Launches Business Resilience Survey, Phase 2

Member news from the Chamber Collaborative of Greater Portsmouth:

February 3, 2021

DISCLAIMER: This content was not created by, but is being shared by the Chamber Collaborative.

NH SBDC Survey Launches TODAY!

Phase 2 of SBDC's Business Resiliency Survey is live. Please take 10 minutes and complete it today!

SBDC's June 2020 Resiliency survey provided us with a lot of important data about businesses' needs and challenges at the beginning of the pandemic. We are pleased to be working with the UNH Survey Center and over 60 partner organizations to run a second survey.

We need to hear from business owners like you, to better understand your challenges and needs going forward. By leveraging the results of the survey, we can more effectively assist in the state's recovery efforts.

Together - with your input - we can help NH businesses better manage their recovery and future resiliency. Please click HERE to take the survey.

Thank you in advance.

Enroll Now for the Resiliency Academy

Work toward recovery and plan for future disruptions...whenever they happen.

The NH SBDC and UNH Cooperative Extension are partnering to offer the Resiliency Academy to help small businesses and communities move toward economic recovery and future resiliency.

Schedule:

Wednesdays 9:00 a.m. – 11:00 a.m.

April 7th, April 21st, May 5th, May 19th, & June 2nd, 2021

The Resiliency Academy consists of five two-hour sessions of virtual learning. Each session will focus on a different resilience topic with related readings, videos, and online content. Businesses will receive the tools and support they need to develop or update their business resiliency plan.

Register for the Resiliency Academy

Visit us online!

It's here! Featuring a brand new look, nhsbdc.org is easier to navigate and offers more information on our programs and services available to small businesses throughout New Hampshire. Here are a few highlights you should check out:

• Blogs including our COVID Creativity Stories
• Recovery & Resiliency Webinars
• Meet the Team in your region
• Programs & Services

SBDC Welcomes New Advisory Board Members

NH SBDC is pleased to announce that seven new members have joined our advisory board. “The advisory board members are our ambassadors, our eyes and ears across the state,” said Liz Gray, state director of the NH SBDC. “They are chosen to represent the variety of businesses and industry throughout New Hampshire as well as for their diverse perspectives and experiences in different regions of the state.”

Dean Deborah Merrill-Sands of UNH Paul College heads the advisory board as its new chair. The new advisory board members include:

• Amy Bassett, District Director, U.S. Small Business Administration
• Ed Butler, Owner, Notchland Inn
• Will Craig, Government Affairs Manager, Eversource
• Shalimar Encarnacion, Shalimar Ventures
• Wendy Hunt, President & CEO, Greater Merrimack - Souhegan Valley Chamber of Commerce; Board Chair, NH Association of Chamber of Commerce Executives
• Geno Miller, Co-founder & CEO, Shtudy
• Emily Russman, Assistant Manager, Hannah Grimes Marketplace

COVID Creativity: Drink Wholesome

Simplicity and authenticity are vital ingredients for Jack Schrupp's natural performance nutrition company, Drink Wholesome. It just so happens those same ingredients are equally important to entrepreneurs and small business owners in trying times.

Learn about Jack's high-quality health products, and his commitment to buoyancy, flexibility, and resiliency as an athlete, teacher, and business owner. Read more about Jack's story.

Updates on PPP and EIDL PPP Updates

Congress appropriated an additional $284 billion for PPP funds and the SBA anticipates that funds will meet nationwide demand. The SBA suggests that borrowers work with their existing financial institution. PPP opened for all first-time and second draw borrowers on January 19th and is available through March 31, 2021.

In order to be eligible to be for a second draw loan, businesses or self-employed individuals must:

• Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
• Has no more than 300 employees; and
• Can demonstrate at least a 25% reduction in gross receipts on an annual or quarterly basis between 2019 and 2020.
• The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations;

Self-employed individuals remain eligible to apply and may use their 2019 or 2020 tax net income to determine their loan amount.

PPP Forgiveness changes:

• The Simple Forgiveness Form for all PPP loans $150k or under is available. The form is one page and simply requires the business owner to describe how the money was spent and make certain certifications. Supporting documentation will need to be maintained.

• If you have a PPP loan over $150K, you may be eligible to use the EZ form. If not, we recommend that you connect with an SBDC advisor to work through the full application.

Learn more

Economic Injury Disaster Loan (EIDL) Application Deadline is Extended through Dec. 31, 2021

EIDL loan applications continue to be accepted through December 2021, pending the availability of funds. Loans are offered with a 3.75% interest rate for small businesses and a 2.75% interest rate for nonprofit organizations. Learn more about how an EIDL loan could be a resource for your small business.

SBDC Recovery & Resiliency Webinars

PPP Applications in 2021, Both First and Second Draw

February 12 | 12pm

We'll help you understand the 2021 PPP Application process and whether you are eligible for the first or second draw. Get your questions answered during the Q & A.

PPP Forgiveness

February 3 | 10am

February 18 | 12pm

Come learn about the updated rules for PPP Forgiveness. We'll review the forgiveness forms and the most common situations.

COVID Assistance for the Self-Employed

February 9 | 10am

Sole proprietor, Schedule-C filer, or LLC? Join us to review special considerations for PPP and other federal relief programs, as well as your eligibility for Pandemic Unemployment Assistance.

Guest speaker: Rachael Roderick, Deputy District Director, SBA

COVID Tax Relief

February 16 | 12pm

An opportunity to learn about lesser known changes to tax law for COVID-19 relief that may have a significant impact on your business.

All above webinars presented by Chuck Gilboy, NH SBDC Business Advisor

Register Here

BIA Small Business Day

Join SBDC and BIA at Small Business Day. This event will provide information that small businesses need to thrive in the COVID-19 landscape. Small Business Day panels feature experts in their field and will focus on financing options, the latest COVID-19 stimulus programs; tax and accounting pitfalls and opportunities; and legislative issues affecting employers.

February 12th, 8:00 AM – 12:00 PM

Register here for Small Business Day.

SBA Webinar Wednesday

SBA Webinar Wednesday

The SBA has programs and services that help small business owners start, grow, expand and recover. Get the latest updates on federal relief programs every Wednesday morning, 9-10am at this Teams meeting link.

View as Webpage

NH SBDC is NH's premier business advising resource. SBDC's team of certified business advisors provides highly individualized, confidential advising and education at no cost to NH enterprises.

Funded in part through a Cooperative Agreement with the U.S. Small Business Administration (SBA ) and through assistance provided by the State of New Hampshire. The NH SBDC is an outreach program of the UNH Peter T. Paul College of Business and Economics in conjunction with SBA, the State of NH (BEA), the University of NH, and the private sector.

NH Small Business Development Center | 10 Garrison Avenue, Durham, NH 03824

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This press release was produced by the Chamber Collaborative of Greater Portsmouth. The views expressed are the author's own.