From the Central Virginia Small Business Development Center
June 1, 2021
Business owners and community partners,
Our physical and virtual offices are busy as many of you and your neighbors start, expand, pivot, buy and sell businesses. Now that news from federal rescue plans is slowing, you will receive fewer newsletters from us. Please see below and as always, check out our calendar frequently. New programs that are designed to keep you up to date are always happening...like how cryptocurrency may impact your business.
Our team of technical and business consultants are here for you, when you need us, free of charge as always.
Join the Virginia SBDC for a two-part webinar series to learn how to maximize community excitement about reopening and safely attract buyers back to brick-and-mortar retailing.
Presented by: Marc Willson, Retail and Restaurant Strategist
A Grand Reopening Celebration: A Retailer’s Guide to Success
June 2 | 8:30 AM EST
Every store, restaurant and town in Virginia should plan a reopening celebration to welcome everyone back to shopping, dining and buying local.
Hosting any kind of event requires planning and organization. Chances are it’s been a while since you planned an in-person event and now you’ll need to consider extra details to ensure you follow social distancing, masking, and other COVID-19 safety measures.
A Guide for Retail Renewal
June 30 | 8:30 AM EST
Virginia is reopening in Summer 2021 and retail has changed. Marc Willson of the Virginia SBDC is presenting a Guide for Retail Renewal webinar to share:
Current retail trends since COVID
Customer expectations of the retail experience
New opportunities and challenges to maximize for success
Tips for developing and executing a renewed business strategy
Restaurant Revitalization Fund
The RRF has run out of funds and the application portal is now closed.
Over 350,000 applications totaling $75 billion dollars were received for the $28.6 billion fund.
While more funding is under consideration, there are no additional funds at this time.
Shuttered Venue Operator Grant
The SVOG has received over 12,500 applications, 90% of which are small businesses.
Based on applications received, the SBA indicates that funds are still available.
A majority of applicants have come from Priority groups #1 and #3
Paycheck Protection Program
The Paycheck Protection Program is closed as of May 31, 2021.
PPP forgiveness is still available
Applicants are required to submit for forgiveness within 10 months after the end of their covered period
Economic Injury Disaster Loan
EIDL loans are still available for small businesses that suffered as a result of COVID 19. Interest rates are 3.75% for for-profit. 2.75% for non-profit.
Visit the SBA EIDL loans page for more details
For assistance with any CARES Act funding, please contact CV SBDC to schedule a meeting with one of our business advisors at 434-295-8198 or email@example.com
Southern Opportunity and Resilience Fund
Small business owners and nonprofits across the South can apply today, for very low interest loans of up to $100,000 and free business support through the Southern Opportunity and Resilience (SOAR) Fund—a new program created by a diverse group of community lenders aimed at helping small businesses and nonprofits navigate and rebuild from the Covid-19 health and economic crisis.
A lender that is currently taking applications in Virginia is the Accion Opportunity Fund based in California. They specialize in loans to minorities and women owned businesses.
"Getting Back on Track: Help is Here"
Webinar Series to Help America’s Small Business Owners & Entrepreneurs
WASHINGTON –The U.S. Small Business Administration and the non-profit Public Private Strategies Institute present a new regional webinar series, “Getting Back on Track: Help is Here,” to provide Main Street entrepreneurs with information and resources needed to continue to recover from the COVID-19 pandemic. The educational webinars feature speakers from The White House, the SBA, members of Congress, and small business leaders, and will provide updates on the American Rescue Plan.
“The 'Getting Back on Track: Help is Here' webinar series is an important outreach effort to help small businesses recover, rebuild and gain resiliency,” said SBA Administrator Isabella Casillas Guzman. “Small businesses are beginning to see the light at the end of the tunnel as marketplaces and main streets reopen thanks to strong vaccination rates. We are empowering small businesses to reopen fully and safely by connecting them with helpful resources and tools, including the Biden-Administration's tax credits that cover paid time-off for employees getting vaccinated. We all must double down on our efforts to help our beloved small businesses survive and get our economy back on track.”
“This webinar series is designed to reach the hardest-hit small business owners across the country with regionally focused conversations connecting them to local resources and to give them the steps they need to build back better,” said Rhett Buttle, Public Private Strategies Institute senior advisor. “The program will focus on three key areas: economic recovery and access to capital options, digital tools, and resources to allow small business owners to be vaccine leaders with their employees and communities.”
The series builds on successful national webinars hosted by the SBA and Public Private Strategies Institute highlighting the Biden-Harris Administration’s action to create additional access to the Paycheck Protection Program for America’s smallest businesses. The webinars provided resources and information to 80,000+ small business owners across the country.
Featured Upcoming CV SBDC Events
10:00 AM - 11:30 AM EDT
Join speaker Courtney Mustin, Business Services Manager, Virginia Department of Small Business & Supplier Diversity, and learn how and why to become SWaM (Small, Woman-Owned, and/or Minority-Owned Business) Certified to gain advantage when seeking state or local government contracts.
Topics covered in this workshop:
Details/benefits of the small business set-aside preference program
Navigating the SWaM application process
Positioning your business for greater success at winning a contract
Live demo and walk through of the SWaM certification website and, if time allows, the eVA website
12:00 PM - 3:00 PM EST
Offered by Charlottesville Angel Network and
Virginia Small Business Development Center
Applications for July 8
Deadline to apply: June 28, midnight
Five applicants will be selected for Pitch Preview, between 12:00-3:00 pm.
Attendees commit to thirty minute time slots consisting of: 5 minutes to join and meet angels, 15 minutes to pitch, and 10 minutes for feedback.
From Community Investment Collaborative
Take your business to the next level! This hands-on course enables entrepreneurs to determine whether their business is viable, develop an initial plan for launching or growing their business, and learn the fundamentals of how to act on that plan. Cost $750. Some scholarships available.
What can I expect?
Weekly 3-hour Tuesday evening sessions
16 weeks of high energy, engaging discussions centered around your business
Excellent networking opportunities with your entrepreneur peers and leaders of the business community
A combination of case studies, discussions, and applied learning activities
Developed components of a comprehensive business plan by graduation
Graduates are eligible to
apply to Community Investment Collaborative's Microloan Fund,
access 'The Collab' co-working space at 300 Preston Avenue,
join CIC Small Business Circles,
access mentors and more!
Minimum wage in Virginia has increased to $9.50/hour as of May 1, 2021.
Server (tipped employee) minimum wage remains at $2.13/hour.
Total earnings must meet minimum wage - employer must cover if tips are too low.
Small businesses continue to struggle bringing in new hires as the workforce begins adapting to a post-COVID world. SHRM offers resources including guidelines for interview questions to help with the hiring process.
We have templates for job descriptions, sharing company vision and mission, and a host of creative ideas to help you attract employees. Please call us to discuss marketing to employees, creative benefits and more tactics for your business.
CVSBDC Events in June 2021
Marketing & Social Media | June 7, 12 - 1pm | Register
Starting Your Business | June 8, 1:00 - 3:00pm | Register
Culpeper: Marketing & Social Media | June 23, 1:00 - 2:00pm | Register
Pitch Preview Application Deadline | June 28, 11:59pm | Application Page
Central Virginia Small Business Development Center | Visit our website
In person meetings are held throughout Central VA and in our Charlottesville and Culpeper offices. In person meetings are scheduled, only as necessary, during COVID 19.
Charlottesville main office phone: 434-295-8198. Culpeper direct phone: 540-727-0638
Culpeper office: 803 South Main Street, Culpeper, VA 22701