What's Inside:
- LAST CHANCE - ENDING THIS MONTH: New $75k HEAL Grant & COVID Financial Programs
- Human Resources - Tips & Resources
- Client Shout Out
- Upcoming Training Events
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Key 2021 Covid Financial Support Programs
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Loan and grant program highlights include:
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Closing Soon: Historic Economic Asset Lifeline (HEAL) - The Kansas Department of Commerce is offering matching grants for the revitalization of underutilized, vacant, or dilapidated downtown buildings. The grants are intended to bring buildings back into productive use as spaces for new or expanding businesses, childcare, housing, arts and culture, civic engagement, or entrepreneurship. The Kansas SBDC can help you with the Business Plan & ProForma Financial Projections required for the HEAL Grant. Applications close December 20, 2021. Learn more and apply on the KDOC website.
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Employee Retention Tax Credits - Up to $28k per employee refunded back to employer. Employers can claim up to 70% of total compensation expense per employee (up to $7k per employee per quarter in 2021).
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Economic Injury Disaster Loan (EIDL) - Small businesses and non-profit organizations can borrow up to a maximum loan amount of $2 million and can come back and request more through the end of 2021 if they borrowed less than their maximum previously thru the SBA EIDL program.
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Shuttered Venue Operators Grant - (Up to $10 million per venue) The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
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Starting a business creates unique challenges for owners and entrepreneurs alike. Sourcing and retaining employees are challenges on their own.
When starting a business, employees quickly become a vital aspect to the success of the venture. But how do you get started?
After setting up your business structure and filing initial paperwork, hiring employees is the crucial next step. Advisors at the Kansas SBDC can help this process by:
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Teaching the Basics – advisors will help with the hiring process, providing resources on rules and regulations, create staff roles employee manuals.
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Employee Management - The Kansas SBDC can work with you on typical Employee Management activities such as hiring/terminating/laying off processes, rules & regulations, staff roles, and manuals.
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Employee Development – Maximize your employees potential through training and advancement courses. Your Kansas SBDC advisor can help highlight programs, grants, and more.
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Hire and manage employees
Establish a basic payroll structure to help you hire employees. Then, manage employees properly with a general understanding of state and federal labor laws.
Read more
www.sba.gov
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Kansas SBDC Client Shout Out
Otten Dentistry
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During the beginning of the COVID-19 pandemic many businesses and, especially small businesses were impacted. One of which was James Otten Dentistry, and Dr. Otten had to quickly make changes to his practices in order to sustain his business. The most important change and concern was the safety of his staff and patients during the time.
“How do we protect those that we serve,” Otten said. “Our health, our staff’s health, and our patient’s health were really the things that mattered the most of all things we had to consider.”
Otten closed his business to reframe and create the proper process for his business going forward, however, closing his business was not a downside due to the major improvements it led to. Some of the improvements included a fogger used for disinfecting each room, HEPA vacuum filtration system and a series of questions were asked to patients to ensure the safety and health of each patient before
each visit.
While all those improvements made a major positive impact on the business, there were other steps Otten took during the businesses close that helped change his business as well. During the close, he reached out to the Kansas SBDC at the University of Kansas, and he worked with Taylor LaRue, an Advisor at the KU office. Help with Economic and Injury Disaster Loan and the Paycheck Protection Program loan was given and played a critical part in the business’s success during such a challenging time.
“In addition to helping with the funding options that were available, the SBDC gave us what we needed most of all - hope.” Otten said. But that was not the only thing he wanted to share, he also wanted to share a piece of advice for anyone that may have been or is currently in a similar position.
“Never give up,” Otten said. “There's always a brighter tomorrow somewhere on the horizon. Sometimes, we just have to be willing to take the difficult journey to find it.”
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Upcoming Webinars and Virtual Events
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Free Webinars & In-Person Seminars
Virtual
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Paid Webinars & In-Person Seminars
Virtual
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Facebook Live Event
Human Resources
Tuesday, December 14th @ 10:00 am
Join Dacia Clark from the Kansas SBDC at Pittsburg State University and Maria Dennison from the Kansas SBDC at Seward County Community College for a discussion on human resources, hiring, and how to make your small business a success. Register here.
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Funded in part through a cooperative agreement with the U.S. Small Business Administration
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Kansas Small Business Development Center
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Questions? Don't hesitate to contact our 7 day-a-week assistance line at (800) 949-7661
For Spanish, call (800) 707-0580
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