Business News NOW
From the Central Virginia Small Business Development Center

January 10, 2023
IRS and SBA Updates
IRS issues standard mileage rates for 2023; business use increases 3 cents per mile
WASHINGTON — Beginning on Jan. 1, 2023, the standard deductible rates for operating an automobile for business, charitable, medical or moving purposes, for the use of a car (also vans, pickups or panel trucks) will be: 
  • 65.5 cents per mile driven for business use 
  • 22 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces 
  • 14 cents per mile driven in service of charitable organizations 
Now is the time to make an estimated quarterly tax payment using Form 1040-ES. The 4th quarter due date for the 2022 tax year is now here.
Due date: Tuesday, January 17, 2023
The IRS has delayed the requirement for businesses/individuals using Venmo and/or PayPal to receive payments for goods and services in excess of $600 to file those income sources on their business or personal tax returns.

This new requirement has been delayed until Jan 1, 2024.

From the SBA Economic Bulletin - GOOD News!
Proprietors’ income wavered during the COVID-19 recession but is now trending upward as it had in the pre-COVID-19 years.
Business loan delinquency rates have remained subdued in recent years for both commercial industrial (C&I) and real estate loans (CRE).
Funding Opportunities
The CV SBDC team has compiled a non-exhaustive list of grant opportunities available to small businesses in Central Virginia.
Need help determining the best source of capital for your small business?
Contact us today to meet with a business advisor! | 434-295-8198

Reach out for virtual meetings or inperson in our Charlottesville & Culpeper offices.
Starting Your Business

Thinking about starting a business?
Started, but could use some advice? This workshop is for you!

Get ready for the steps for a successful start, registrations and regulations, the components of sound business planning and meeting other founders! $10 fee.

Jan 10 | 3:00 - 5:00pm
Jan 17 | 8:00 - 10:00am
HYBRID event: In-person at Irving Theater at the CODE Building, 225 W Water St or online via Zoom
Get inspired
Meet fellow entrepreneurs
Share lessons learned
Government Contracting 101
Jan 17 | 12:00 - 1:30pm
Are you interested in Federal Government Contracting?
Join us and learn strategies and tips for securing federal business.

Join Lisa Wood, Director of the Virginia Procurement Technical Assistance Center (PTAC), for this informative presentation – a “must” for those who are considering the Federal Government contracting market and want to learn how to prepare for/navigate this huge potential market. This “beginners” class offers tips and tricks on how to win Federal business.
2023 Government Contracting Series is presented jointly by
Central Virginia SBDC and Capital Region SBDC
Grant Writing - Let's write a grant together
Jan 18 | 1:00 - 3:00pm
HYBRID event - in person at 300 Preston Ave, 2nd floor Training Room, Charlottesville or online via Zoom
Join Central Virginia SCORE for an overview of the grant writing process and sources of grants. Participants will also have the opportunity to write a sample grant together.
Are International Markets for You?
Prepare for the certification exam!

Learn to to grow, protect, and access exporter opportunities!
In this 6-part series learn to:
  • Evaluate global market opportunities and identify foreign buyers.
  • Develop indirect and direct foreign market entry strategies for your firm.
  • Determine your international product and pricing strategies.
  • Understand basic logistics and be able to evaluate supply chains.
  • Understand trade finance and how to sell on open account terms
$350 fee: incl. NASBITE study pack
($199 value)
Grant Writing Class
This 2-part series is open to all businesses and nonprofit organizations in Central VA. Participants will receive a grant writing manual and will have a completed grant after two sessions.
Raising Equity Capital?

Virginia early-stage innovative entrepreneurs: Charlottesville Angel Network (CAN) and Virginia Small Business Development Center (VSBDC) have joined forces to help you polish your pitch presentation.

Pitch Preview: Feb 2, 12:00 - 2:00pm
Deadline to apply: Jan 23, midnight
Founders' Education Series

Are you ready to launch with confidence or evaluate an existing business? The Founders' Series is a 5-week series to prepare a solid foundation to start or expand.

Classes offered Feb 7 - Mar 7
All classes will be held via Zoom on Tuesday mornings from 9:00 - 11:00am

We encourage taking the sessions in order to complete an optional 
Entrepreneurship Certificate. More information can be found here.

There is a $10 administrative fee for each session of the Founders' Series. Email for more information.
Upcoming Webinars from the Virginia SBDC Network
January 11 | 10 AM EST

January 18 | 5 PM EST

January 19 | Noon EST
January 23 | 11:30 AM EST

January 24 | 1 PM EST

January 31 | Noon EST
Access the CVSBDC Events Calendar and 
statewide training offerings

ONE More Week to Apply for CIC's signature
Entrepreneur Workshop!
In just 16 weeks, the Entrepreneur Workshop will help you take your business to the next level!

It's a hands-on course that provides you with weekly lectures, discussions, and applied learning activities to help determine if your business is viable, develop an initial plan for launching or growing your business, and learn the fundamentals of how to act on that plan.

Don't let this opportunity pass you by!
Submit your application by January 17th.

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.