CV SBDC members recently attended the Piedmont Environmental Council’s workshop on Solar for Rural Businesses: Accessing Funding for Small-Scale Solar. 

Now is an optimal time for rural small businesses to utilize small-scale social funding from the USDA’s Rural Energy for America Program (REAP) grant. Coupled with the 2023 IRA tax credits and Solar Renewable Energy Credits (SRECs), REAP grants can cover over 80% of the costs of solar installation projects. These investments save business owners money on energy costs for their operations while positively impacting the local clean energy supply. With these incentives, the return on investment time frame can drop to 1-2 years. The next application window for REAP ends June 30, 2024.

SMALL BUSINESS NEWS

Watch Out for Tax Scams

IRS warns taxpayers they may be scam victims if they file for big refunds; misleading advice leads to false claims for Fuel Tax Credit, Sick, and Family Leave Credit, household employment taxes.

IRS Changes Affect Forms W-2



The SECURE 2.0 Act introduces key changes that affect how businesses complete Forms W-2 starting in tax year 2023. These changes include provisions for financial incentives, Roth SIMPLE and SEP IRAs, and the optional treatment of employer contributions as Roth contributions. Businesses should review these changes carefully to ensure compliance and correct any previously filed forms if necessary.

Check Business Tax Returns for Incorrect ERC Claims

Some unscrupulous promoters have misrepresented eligibility rules for the Employee Retention Credit, luring well-intentioned businesses to claim the credit when they don’t qualify. With ERC compliance work expanding, the IRS reminds businesses to quickly pursue the claim withdrawal process if they need to ask the IRS not to process an ERC claim for any tax period that hasn’t been paid yet.

FUNDING OPPORTUNITIES

Climate-Smart Opportunities Using Farm Loan Programs

The U.S. Department of Agriculture’s Farm Service Agency (FSA) reminds agricultural producers that Farm Loan Programs can be used to support a variety of climate-smart agriculture practices. Read More

$50K Grants for Commercial Vehicles

Do you have a need for a commercial vehicle and a plan for growth? The Progressive® Driving Small Business Forward grant program in collaboration with Hello Alice is awarding 20 businesses with a $50,000 grant and a 12-week coaching program. Learn more and apply by June 14, 2024.

All programs of the Virginia SBDC are open to the public on a non-discriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance.

Wednesday, June 12 | 5:30 PM - 7:30 PM

Learn a red-flags approach to startup investing due diligence from CAN general counsel Craig Redinger. Hybrid with limited in-person seats. Register here.

Charlottesville Entrepreneurs + Espresso (C-E2)

June 18 | 8 AM - 10 AM

In Person (Charlottesville)

Attend this monthly series to network with entrepreneurs at all stages of business, learn about an early-stage business and learn lessons from an experienced entrepreneur.

Webinars from the Virginia SBDC Network

Access the CVSBDC Events Calendar and 

statewide training offerings for even more learning!

Black Business Expo

June 15 | 9:00 AM - 3:00 PM

In Person (Charlottesville)

The Black Business Expo is a FREE event designed to celebrate and encourage the success of black-owned businesses locally and beyond. The Expo features vendor booths, business panel discussions, a pitch contest, and live entertainment for everyone.

Business Model Innovation Workshop

June 15 | 10:00 AM - 12:00 PM

In Person (Fredericksburg)

Unlock the potential of your business in this intensive workshop which includes interactive presentations on business model frameworks and success stories, breakout sessions for personalized brainstorming and feedback, and networking opportunities to foster participant collaboration.

Building and Maintaining a Thriving Organizational Culture

June 25 | 5:30 PM - 7:30 PM

In Person (Charlottesville)

Hear from a panel of entrepreneurs about their experiences building and maintaining a thriving organizational culture by creating shared visions and values, using leadership role modeling to build culture, and supporting adaptability and reliance in a fast-changing environment.

Central Virginia SBDC

Your Partners in Business:



​Supporting Small Business - from Startups to International Expansion

Serving the City of Charlottesville and the Counties of Albemarle, Culpeper, Fluvanna,

Greene, Louisa, Madison, Nelson, Orange, Rappahannock.

Meet With Us

The Virginia SBDC Network is funded in part through a cooperative agreement with the U.S. Small Business Administration, George Mason University‐Mason Enterprise, and local host institutions. The Virginia SBDC is nationally accredited by America’s SBDC.

All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Business owners can access the services of their nearest SBDC at VirginiaSBDC.org.