Serving credit professionals ...since 1899
Monthly news & updates
FOR CREDIT AND FINANCE PROFESSIONALS
January 2021
MLK day. Martin Luther King jr_ I have a dream text and USA flag on wood background_ US national holiday card template. 3d illustration
Welcome to the New Year!
Opening comments from our President & CEO
Upcoming Events
See what's happening this month...and beyond
Industry Groups

NOTE: All Group meetings are being conducted online until the Coronavirus subsides. Hawaii Hospitality is on hiatus throughout COVID-19.


Puget Sound


Tuesday, 1/19
11:30 HVAC

Wednesday, 1/20
11:00 Tacoma Construction
1:00 Food

Thursday, 1/21
11:00 Eastside Construction
1:00 Wiring


Alaska

Wednesday, 1/20
1:00 (AKDT) Alaska Suppliers


Hawaii

No meetings in January, but back in February

CLICK ABOVE TO ASK
YOUR QUESTION
Education and Events

Monthly Webinar (Free)

"Managing the credit function during as emergency"

January 27th - 12:00 (11:00 AKT)

Special Presentation

Highhako University's
"Risk Management Bootcamp For Trade Credit Managers"

January 27th and 28th

Conferences - Save the dates

Southwest Business & Construction Credit Conference
April 15, 2021
Phoenix


NACM National Credit Conference
(Subject to change)
Kansas City
May 16-19, 2021

Virtual Plus
June 8-10, 2021


Holidays

Martin Luther King, January 18th

NACM BCS will be open
Education - including new offerings for 2021
We enter 2021 acknowledging that the world has changed especially when it comes to professional education. The opportunity for in-person training will hopefully return later this year. In the meantime, virtual education is our future. We have come to recognize that there is a limit to how many such programs our members will view. So, it's incumbent upon to us deliver some new and different programming that will fit your needs and desires.

We have been invited to participate in two offerings that we think you will like and want to do. Please take a look at the following introductions, click through to get the details and then register today

Once you've attended, please let us know what you thought by dropping an email to; feedback@nacmbcs.org. Thanks and enjoy the new programs.
NEW OFFERING!
Highhako University's

"Risk Management Bootcamp
For Trade Credit Managers"
NACM Business Credit Services has accepted a special invitation to try new educational offerings from Highako University. Created by HighRadius, Highako is offering a number of educational programs for credit professionals at no cost and online.

They have assembled very good material. Some are presentations are live while others can be viewed at your leisure.

We begin with a "Live Workshop":

Risk Management Bootcamp For Trade Credit Managers.

January 27th and 28th

Click on the information button for details and to register.
If you register for "5gen Workplace: Bridging Generational Gaps to Improve Teams", all proceeds from the class will be donated to DreamCatchers, a program that helps fulfill the final dreams of hospice patients. You receive our special discount and get to help support a special organization.
NEW OFFERING!

Cash Flow Management
Training Institute
Learn how to improve your organization's financial health.
Courses from CFMTI are the next best thing to a live seminar. Excellent speakers, course materials included, and all reasonably priced. Plus, you can take the classes at your leisure.

But, wait, there's more!

As a member and customer of NACM Business Credit Services, you receive an exclusive 50% discount on all programs!

Click on the button on the left to view the offerings. When you register and pay, you will see an option to submit a coupon code. Type in "FREE" and you will review the NACM BCS special half price. You're getting the discount because of your involvement with us, so take advantage of this special arrangement today!

Give CFMTI a try. We think you'll like it
Exclusive: 50% Discount for members of NACM Business Credit Services
OUR FREE MONTHLY WEBINAR CONTINUES IN 2021
The fourth year of our monthly webinar series begins this month featuring mostly new presenters with new presentations. The webinars are free for members and customers of NACM Business Credit Services.

Take a look at the descriptions and register today!
Presenter:

Tracy Bullock
Sandler.com, Phoenix, AZ
Managing the Credit Function During an Emergency

Free Webinar

January 27 @ 12:00 PM - 1:00 PM
        If 2020 taught us anything, it was that we were only ‘kind of’ prepared for an emergency. Having a contingency plan is enough for working through a company business problem, but a contingency plan does not typically focus on managing through the human side of the emergency. 

Join us on January 27th as we learn strategies for managing through an emergency.

Let us put our 2020 learning to good use and start on the road to Managing New Plans for Situations in 2021!
Presenter:

Erin Austin, CPA
Chief Financial Officer
Anchorage Daily News
Anchorage, AK
Bankruptcy – An up close and personal view

Free Webinar

February 10 @ 12:00 PM - 1:00 PM
Rarely do we have the opportunity to learn about bankruptcy from the perspective of someone who has been through the full cycle of a case. Our speaker will discuss the experience of participating in taking a company into bankruptcy, dealing with the legal aspects including selling the company, and then being hired to become the CFO of the new enterprise as it returns to full operations/profitability.

Join us for this unique perspective from one of our own members.
Did you miss the most recent Monthly Webinar? Or our podcasts?
If you have missed previous presentations, here's your chance for a re-do. Just click on the link below and you can watch or listen to several recent presentations. Best of all, they're all FREE! Just click below.

PODCAST: Bill Gates and Rashida Jones Ask Big Questions:

What will the world look like after COVID-19?
Bill Gates and Rashida Jones have started a podcast that thinks through some of today’s most pressing problems together. In their first episode, they explore a big question that is top of mind for many people: what will the world look like after COVID-19? Click below for the link:

New Report Available!

Experian Business Information Services is excited to announce a new quarterly report Beyond the Trends.

Beyond the Trends offers a unique view of the small business economy based on what we see in the data. With up to date information on over 25 million active businesses and how they perform from a credit standpoint. Experian will share insights and commentary on how economic conditions, public policy, and other factors might shape future small business performance.

Please click on the image above for more.
Legislative Activity and Politics
The state legislatures are in session and actively considering a number of bills with potential impact on the business community. As always NACM BCS is monitoring several of them and is prepared to engage through our lobbyists on those bills relevant to our member companies. See below for more information on the bills we are following as well as other matters of concern.
WASHINGTON
Bills we are watching for you. For more information on any of them, click HERE and type in the bill number on the legislative web site:

HB 1002 - COVID grants/B&O Tax

HB 1012 - B&O tax credit/COVID-19

HB 1095 - Concerning the taxation of governmental financial assistance programs

SB 5010 - Credit score/insurance rates Prohibiting the use of credit scores to determine rates for personal lines of insurance.

SB 5039 - Gubernatorial emergencies Subjecting all gubernatorial emergency orders to legislative approval after thirty days.
Businesses surviving on government aid have had another vexing headache: the possibility of paying taxes on the relief dollars they received.

Inslee: Washington state must work toward a ‘new normal’
Gov. Jay Inslee told lawmakers that the state must move to a “new normal” that addresses a multitude of issues, including equity, affordable housing and climate change.

He did not mention a new capital gains tax and a tax on health insurers that he proposed last month as part of his two-year, $57.6 billion budget proposal.

ALASKA
Dividends, lottery, alcohol, COVID and taxes are featured among Alaska Legislature’s first draft bills
Alaska lawmakers released 89 new bills and five constitutional amendments Friday, the first day the public could view legislation filed in advance for the 32nd Alaska Legislature. A second batch of prefiled bills will be released Jan. 15, and the Legislature convenes Jan. 19.

HAWAII
Zooming in on the major issues facing Hawaii in 2021
COVID. Budget. Tourism. All make for a busy legistlative session in our 50th state.

OTHER POLITICAL NEWS
"Powerhouse Duo" gain clout for Washington in Biden era.
The transition away from the Trump era may bring a Mount Rainier-level elevation of clout for Washington state.

Washington Sens. Patty Murray and Maria Cantwell will be lifted to powerful committee chair positions that will enable them to steer legislation and spending on everything from health care to schools to aviation and rail — even internet regulation and NASA. The state of Washington will benefit.

Best Practices to Follow
Get on top of delinquencies
In addition to regular use of credit reports, history tells us that the sooner you deal with A/R issues, the better off your company will be.

Just as we've noted about trends in credit report use, we are also seeing a trend of letting delinquencies linger. The longer those past due bills are allowed to lanquish, the harder it will be to get paid.

There's as easy solution. Turn your A/R over to us for Collections and we can help get you paid soon.

Please call us at 800-423-5710
Business News
‘Make or break’: Washington business groups lobby for tax cuts, easing of COVID-19 restrictions
After surviving 10 months of shutdowns, heavy layoffs, steep losses and chronic uncertainty, many businesses in Washington say they won’t see the end of the pandemic without significant help from state lawmakers.

But one week into the 2021 legislative session, prospects for that relief are anything but clear.  

How to get a small business loan from the new $284 billion PPP program
The Small Business Administration says it is trying to take a more targeted approach to distributing another $284 billion in subsidized Paycheck Protection Program small business loans compared to past iterations of the program. Take a look to see if your company might fit the program.

Amazon launches $2B affordable housing fund for Seattle area and 2 other hubs
Amazon has announced the Housing Equity Fund, a $2 billion-plus commitment to preserve and create more than 20,000 affordable housing units in the Puget Sound region; Arlington, Virginia; and Nashville, Tennessee.

Amazon's announcement follows Microsoft's affordable housing commitment of $750 million in King County.

Holland America delays launch of Alaska cruise season to June
Seattle-based cruise ship operator Holland America Line is extending the stoppage of its Alaska cruise voyages departures through early June due to COVID 19.

Holland, a subsidiary of Carnival Corp., said it will cancel all Alaska cruises through mid-May, as well as Alaska departures on three ships through early June, and any of its land and sea journeys connected with those canceled Alaska sailings, through early June.

Nintendo to acquire Canadian developer Next Level Games
NACM BCS member Nintendo said it is acquiring the Vancouver, B.C.-based game developer Next Level Games. The Japanese video game maker, which has its U.S. headquarters in Redmond, said it expects the deal to close March 1.

Next Level Games was founded in 2002 and has been closely working with Nintendo for more than 15 years, making games for Nintendo Switch, Wii and 3DS. Its titles for Nintendo include Luigi's Mansion 3 and Luigi's Mansion: Dark Moon. Luigi's Mansion 3 won a 2020 BAFTA for animation.

Hawaii businesses fear unemployment tax increases will ruin their economic recovery
Local businesses are bracing for at least a tripling of their unemployment taxes, which without legislative intervention they say would disrupt any statewide economic recovery.

Hawaii’s yearly unemployment tax on businesses is set to automatically triple in 2021 to an average of 3.65% or $1,757 per employee, up from 1.11% or $534 per employee.

Washington business owners say hike in unemployment taxes could be final blow
Business owners all across the state are being hit with a tax increase they were assured would never happen.

Unemployment tax rates are going up at a time when few can afford it — after hearing from the Washington Employment Security Department last year that they would not go up in the wake of the coronavirus pandemic.

Well...they have. Click below for more.

Hawaii bankruptcies fell in 2020 despite pandemic
Hawaii bankruptcies seemed destined to rise in 2020 when the COVID- 19 pandemic sent businesses into a tailspin, employees to the unemployment website and tourism into a virtual standstill.

But state and federal financial aid came to the rescue, and the number of bankruptcy cases ended up plunging 8.6% to 1,524, according to data released last week from the U.S. Bankruptcy Court, District of Hawaii.

Careers and Employment
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Are you trying to fill a position? Use our Job Center!
Take advantage of the Job Center at nacmbcs.org. If you're having trouble filling a position in your company, use this opportunity to reach a lot of people!

It's easy to post an opening. Just fill out the form. After that, the most viewed part of our website will get attention to your needs.

Best of all, it's a free service that comes with membership in NACM BCS.