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Pace University SBDC Newsletter - September 2017
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5 Social Media Strategies for the Fall
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As the fall season is now upon us, it's time to focus on finishing 2017 with strong revenues and profits. Here are some social media strategies that can help you exceed your sales projections for 2017:
1. Livestream updates
2. Get endorsements
3. Increase subscribers
4. Use holiday-themed content
5. Partner with a cause
Schedule an
appointment
to discuss these marketing strategies and more!
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Small Business Bonding Assistance
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The State of New York established the
NYS Surety Bond Assistance Program
, which provides a guarantee of up to 30% to NYS small businesses with at least two years of operations to secure a surety bond line, bid bond or a performance and payment bond. Guarantees for bond lines and bid bonds will be issued by Empire State
Development, and are for NYS and NYC agency let projects. The maximum bond line or project size is $2 million. For more information, contact
BAP@esd.ny.gov
.
The City of New York recently launched a $10 million
Bond Collateral Assistance Fund
to help operating small businesses that are bidding or plan to bid as prime or subcontractors on a contract with a City agency or the NYC Economic Development Corporation. The program allows eligible businesses to apply for surety bonds (collateral assistance) of up to $500,000 or 50 percent of the contract amount, whichever is lesser, in order to meet cash collateral bond requirements. Providing access to guaranty funds helps small businesses compete for these contracts that require bonding when they may have had difficulty otherwise due to a limited track record of successfully completed jobs, poor credit history, and/or other issues.
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Pace SBDC Success Story
The Neon Tea Party
Pace SBDC assisted
The Neon Tea Party's founder, Marisa Morrison, in establishing formal systems for accounting and tax purposes. Her business advisor also helped her to develop a business plan and cash-flow projections.
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Neighborhood Entrepreneur Law Project Partnership Focus
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The
Neighborhood Entrepreneur Law Project (NELP) of the City Bar Justice Center p
rovides low- to moderate-income micro-entrepreneurs with the legal services necessary to start their businesses on sound legal footing. NELP's volunteer attorneys guide clients through topics such as incorporation, tax issues, contracts and agreements, commercial lease negotiations, copyrights, trademarks, and patents.
The Pace University SBDC has been happy to partner with NELP to offer our clients free legal workshops, as well as 1:1 sessions with volunteer attorneys from a range of law firms and corporate legal departments
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Upcoming Events
A volunteer attorney will teach entrepreneurs about the different forms of business structure, outlining the benefits and weaknesses of each, and discussing the steps and corresponding costs required to establish with the state. After the presentation, there will be Q&A to address any follow-up questions.
A volunteer attorney will review key lease terms and issues that may arise when negotiating a lease for entrepreneurs considering renting a commercial space. After the presentation, there will be Q&A to address any follow-up questions.
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The Pace SBDC will join the
NY Small Business Development Center network
on
October 4 and 5
in Albany at the Seventh Annual
New York State MWBE Forum
. This two-day event is designed to help
Minority and Women-Owned Business Enterprises (MWBEs)
identify and land new contract opportunities, and includes workshops, exhibitions, and networking. Over 2,000 professionals are expected, including key procurement representatives from various government agencies and private firms.
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Voice your opinion to the SBA!
The
US Small Business Administration
(SBA) is seeking input from the public to evaluate small business regulations and determine which should be repealed, replaced, or modified. Your feedback on SBA regulations will help the agency more effectively fulfill their mission of promoting job creation and the economic growth of small businesses. Visit the
SBA's "reducing regulatory burden" webpage
to learn more and to submit a comment via the Federal Register. Comments must be posted by October 16, 2017.
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