July 2015
QUICK LINKS
  
 
 
Local Events
Presents a special evening of blues music with the  Once in a Blue Moon Music Jam featuring the Johnny Winter Legacy Band at Jillson Square, Willimantic
July 31, 2015 from 6-10 PM.   Click here for more information or to purchase tickets.

Connecticut
Small Business Development Center

Just a reminder that CT SBDC has Office Hours at the Windham Region Chamber of Commerce the first Wednesday of each month from 3:00 - 5:00 pm. To schedule an appointment, call 860-486-4629.   
offical irs 
IRS Calenda r:
Important dates for small businesses to remember can be accessed by one click of the mouse.  Click here  to access the IRS tax calendars.

Dates to Remember  
July 14:  Microsoft will no longer be providing security updates or supporting the Windows Server 2003 operating system.  What does this mean, data left on Windows Server 2003 can easily fall prey to hackers. 
 
October 1:  Coming this fall EMV (Europay, MasterCard and Visa) specifications will change the way all businesses are paid and how credit card fraud is handled.  To improve security credit cards with magnetic strips are being phased out and replaced with cards containing an embedded microchip.  Along with that comes new ways to read the card.  If you are not in compliance after October 1st, you could be held liable for fraudulent transactions.  Please be sure to contact your point of sales (POS) provider for more details and confirm whether or not an upgrade is needed.   
SPONSORS

Thanks to our sponsors for their support!

 

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Thinking of starting or expanding your business?  Getting ready to apply for funding?  Before you apply, check out this month's article about what lenders look for in a loan application. If you want your loan application to stand out and get the desired reaction, be sure to take the FREE online course offered by SBA on how to prepare a loan package.

 

If you are a manufacturer and are in need of training for your workforce, learn about the matching funds program to assist Connecticut manufacturers with funding.  Funds are made possible through the Manufacturing Innovation Fund Incumbent Worker Training Program (IWT) administered by the CT Department of Labor.

 

As always, the Northeast CT Economic Alliance is here to assist entrepreneurs of northeast Connecticut with business loans for starting or expanding a business as well as providing beneficial resource information.


Visit our website - www.nealliance.com - to get started with your loan application today. Don't hesitate to call us at 860-465-5141 with any questions or concerns, or stop in Tuesday-Friday between the hours of 8:30-4:00.  We are located on the corner of Valley and High streets in Willimantic, CT.

 

Official State Website Redesigned
  

In June the State launched a complete redesign of its official website-www.ct.gov  containing a new layout, and new features organized to meet the specific needs of businesses, residents, and visitors of the state. It was designed for use on computers, tablets and mobile devices.

 

A top priority of the website modernization was the development of a new business portal. This new business portal will make it easier to navigate the numerous state agencies and business-related resources needed to form, operate and expand a business in Connecticut.

 

Stay tuned for more changes as the website is a work in progress.  Plans are for every state agency in Connecticut to shift to this new format and create new interactive services on the state's portal thus increasing the number of services a user can conduct over the internet.

 

Click here to view Connecticut's newly redesigned website.  Click here to view the new business portal.

startup buz

 

NeedNeed Funding to Start or Expand Your Business?
Chances are, if you are like the majority of entrepreneurs and/or small business owners, you will need financing at some point to start or expand your business. Borrowing money is one of the more common sources of funding a small business. Before applying for a loan you should become familiar with the major factors that may affect your chances of securing funding as well as how to prepare a loan package. 
The factors lenders use to analyze a loan application are:
  • Type of financing required - equity vs. debt
  • Ability to repay
  • Credit history
  • Equity investment
  • Collateral
  • Management experience

For more information regarding these factors click here to read an article from BusinessUSA.

 

Once you are ready to secure funding, you may want to review a free online course from SBA about how to prepare a loan package.  In this course you will learn:

  • What lenders will ask
  • Determine the purpose of securing a loan
  • Explore the components of a loan package for a business plan
  • Financial statements needed in a loan package

Click here to access the course.

 

If you have questions about the Alliance's requirements please feel free to call us.

 
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FundsFunds Available for Manufacturers to Train their Workforce 

The Manufacturing Innovation Fund Incumbent Worker Training (IWT) Program is a matching fund program to help CT manufacturing companies provide training for their workforce. It offers UP TO $100,000 per employer, per calendar year equal to the approved amount. For example, if a company is provided $50,000 in Manufacturing Innovation Fund IWT funds, the employer must also provide at least $50,000 in matching funds; totaling $100,000.


 

Program Requirements include:

  • Total proposed training project value must be at least $10,000 ($5,000 provided by the IWT program; $5,000 company match)
  • A third-party service provider must be used to execute the proposed training project.
  • Must be a CT-based manufacturer with less than 2,000 employees; registered to conduct business for not less than 12 months.
  • Companies applying for funds must be in "Good Standing" with the Depts. of Labor and Revenue Services.
  • Applications will be processed on a first-come, first-served basis.

The program is administered by the CT Dept. of Labor: funded through the Dept. of Economic and Community Development's CT Manufacturing Innovation Fund.


 

For more information contact Mark Fillmore at 860-412-7021, [email protected].


 

Employers may also apply online at www.ctdol.state.ct.us/IWTmanufappform.htm
ChamberChamber News

Windham Chamber Logo
Chamber of Commerce, Windham Region

Business with Pleasure - Milrick Lawn Service

Wednesday, August 12, 5:00 pm - 7:00 pm

89 Flanders Rd., Conventry, CT

For more information and to register call 

860-423-6389 or click here.

 

 

 

 

 

The Northeastern CT Chamber of Commerce is moving to their new location at 210 Westcott Rd. in Killingly later this month. They should be fully moved into their new home by August 1st. Congratulations from all of us at the Alliance on this exciting moment in the Chamber's history!
Next Business After Hours is Tuesday, Sept. 22 at Putnam Bank, 5:00 -7:00 pm.
WorkshopWorkshops and Seminars
 
sba Summer Small Business Workshops at the Hartford Public Library
FREE Small Business workshops brought to you by SBA, SCORE, Hartford Public Library and The Hartford Financial Group.
  • Wednesday, July 15: The ABC's of a Business Plan & SWOT Analysis.
  • Wednesday, July 22:  How to do business with federal & state government.
  • Wednesday, July 29:  Marketing your business; Web pages, social media, ect.

All workshops are at the Hartford Public Library @ 500 Main St. Hartford, CT from 6:15 to 8:00 pm.  Note:  Parking is free after 6:00 pm at meters

For more information and to register please call 860-695-6337 or email at: [email protected]

  
Online Course:  Savings Plans for Small Businesses
This training exercise will give you an overview of savings plans and strategies for your small business. In this course you will learn:
  • Contingency and long-term savings
  • Tax breaks
  • Retirement savings and much more.

Click here to take the course.
The Northeast CT Economic Alliance is an independent, community-based partnership of business, education and government
interests dedicated to enriching the long-term vitality of the communities of:
  Ashford ? Brooklyn ? Canterbury ? Chaplin ? Columbia ? Coventry ? Eastford ? Hampton ? Killingly ? Lebanon ? Mansfield ? Plainfield ? Pomfret ? Putnam ? Scotland ? Sterling ? Thompson ? Union ? Willington ? Windham ? Woodstock

This institution is an equal opportunity provider and employer.