Kansas SBDC October Updates

October news & updates

What's Inside:

Latest Covid-19 Resource Updates
What is the Kansas SBDC?
Encountering Innovation 2021: Recap
America's SBDC State Star
Client Shout Out
Upcoming Training Events

Key 2021 Covid Financial Support Programs

Loan and grant program highlights include:

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).

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.

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.

More info on the Kansas SBDC Covid-19 Support Resource Page.

What is the Kansas SBDC?

The Kansas SBDC is part of America's SBDC network, a comprehensive nationwide business assistance network in the United States and its territories.

Kansas SBDCs are hosted by leading universities, colleges, state economic development agencies, and private partners, and funded in part by the United States Congress through a partnership with the U.S. Small Business Administration as well as the Kansas Department of Commerce. The SBDCs provide little- to no-cost business consultation and training to new and existing businesses.

Main services of the Kansas SBDC include:

Start: Your local SBDC can help new businesses and startups navigate many obstacles such as establishing business plans, looking at financial projections, and assessing new ideas. New businesses can also get help with registration basics, finding local funding, and even navigate the hiring process.

Grow: Established businesses can get help growing through the help of a Kansas SBDC advisor. Advisors can help by exploring strategic planning, evaluating funding options, finding SBA business certifications, looking at marketing and sales opportunities such as online marketing and exporting, helping to understand financial statements and other recordkeeping, and also finding ways to protect businesses in the long run.

Exit & Transition: Ready to move on to the next step? The Kansas SBDC can help with business transition and exit planning. Your local SBDC can help create a smooth transition for your business by looking at business valuation and valuation improvement plans. The Kansas Center for Business Transition aims to support the continuity of small businesses with education and resources that benefit both the businesses and their communities.

Specialty Centers:

Technology Innovation Center: The Kansas SBDC Technology Innovation Center specializes in helping advise and connect people who have innovative ideas to government or private entities that can use and/or fund those ideas. The Technology Commercialization center provides opportunities to connect such as Lunch and Learn events, a robust training video library, information for SBIR/STTR grants, and funding, matchmaking, and technology transfer events.

Capital Access Center: A service for current Kansas SBDC clients, the Capital Access Center (CAC) provides banking and capital advice and resources to small businesses from banking and loan experts. The CAC works with many types of loan and financing partners such as conventional loans, SBA lending programs, non-bank financing, and local financing partners. CAC services include loan screen eligibility, test review and lending options, guidance through the loan process, and training and education.

Virtual Center (Live Assistance 7 days per week & after hours): Need help with a quick business question right now? Or help to navigate all the information on our Website or Training Video Library? Then the Kansas SBDC Statewide Virtual Center is ready to help you (including Spanish language support reps). Call (800)949-7661. For Spanish, call (800)707-0580.

Kansas SBDC Business Support Center Kiosks: For Economic Development groups (Chambers, Cities, etc) looking for an "Easy Button" Business Support Center located right in your office or community, please check out our Kansas SBDC Kiosk program at www.KansasSBDC.net/kiosks.

Encountering Innovation 2021: Recap

Virtual Conference | September 13th - 17th, 2021

Encountering Innovation 2021 went virtual for the second year due to Covid-19. Hosted by the Kansas SBDC at Johnson County Community College, the event boasted success from its unconventional format.

Over the course of four days, the event had 8 main stage and 10 round table events hosted by field experts and state leaders. The virtual conference also had lounges for general networking, commercialization, and advanced manufacturing. Gamification became a spotlight in the virtual platform and encouraged conference-goers to participate, network, and discover more about the exhibitors and presenters. The top 3 winners won a free ticket to the 2022 Encountering Innovation event.

This year’s conference also featured a unique matchmaking session where innovators could pitch their products and ideas to tech scouts. Pitchers were matched with tech scouts based on key industry tags filled out in the initial application process.

One of the biggest takeaways from the conference came from exhibitor Doug Slattery, CEO and Founder of SYBor Tech, Inc, “Finding out from the presenters that from the vast number of small businesses in the US, they have as difficult a time finding suppliers as small businesses do finding opportunities. It's good to get on their radar and make those connections when you have the chance.”

Exhibitor Ann DuPuis, Chairman and COO of Elevated Health Systems, also appreciated the dedication to the late Lieutenant Colonel Brett Scharringhausen. “I appreciated starting the Conference with the tribute to Lt. Col. Brett Scharringhausen, made by Alan Badgley. My company exhibited at the DoD Tech Conference in Austin that Alan referred to in the tribute and I remember [Alan] went on a mission to introduce himself to Brett, I believe on the last day, at checkout time for the hotel! So, it's amazing to consider that all these connections and opportunities grew out of their initial introduction and energy. It's inspirational!”

Keep a lookout for Encountering Innovation 2022! To learn more and stay updated visit www.encounteringinnovation.com.

America's SBDC Kansas State Star

Randy Robinson, Regional Director for the Kansas SBDC at Pittsburg State University, has been selected by his peers as the America's SBDC Kansas State Star.

Using CORE and CARES Act funds, Randy was instrumental in envisioning, establishing and managing statewide marketing and call centers and a rural kiosk system. These allowed the Kansas SBDC to more efficiently reach out to current clients and serve the needs of small businesses struggling during the pandemic.

Read More Here.

Kansas SBDC Client Shout Out

Lauren's Treat

In 2016 at the age of 10, Lauren Seachris, along with her parents, Ryan and Amy, established Lauren’s Treat, a healthy dog biscuit business created with the goal in mind to raise funds for her home building projects. Lauren set a goal to raise funds to build five homes in Nicaragua, and she was determined to put in the work to obtain her goal, as her business popularity and demands grew.

Knowing that she would have to create new product lines to not only keep up with demand for her biscuits but to keep her clientele coming back for more, Lauren and her parents reached out to the Kansas SBDC for marketing assistance. At the Kansas SBDC Outreach Office in Dodge City, Lauren and Amy worked with Maria Dennison on promotional ideas, accounting efficiencies, cost of goods, and profitability.

Through conversation, inspiration, and shared love for a servant’s heart, Lauren was able to give new life to her business and continue her dream of building homes for those in need. With the help of the KSBDC, Lauren’s Treat was able to increase sales resulting in more homes being built. By December of 2019, Lauren exceeded her goal and built eight homes for families in Nicaragua. She also added new products that included chew toys, bow ties, paw balm, pet beds, pillows, catnip toys, and vintage suitcase beds.

The entrepreneurial spirit that exists at Lauren’s Treat, is not only a gift to her many loyal customers, but it is an inspiration and a lifeline to the many people that she so graciously serves through her missions. When asked what advice she would give to a new business, Lauren replied, “If you have a dream, go after it. I am currently 14 years old and have been working in this business for 4 years. It started extremely small but has grown to so much more! Find your passion. Discover what sets you apart and makes you unique from others. Sometimes you try things that work and sometimes they don’t, but you just keep going and keep brainstorming new ideas.