The latest news for you- Nepali Chamber E-Newsletter

March 2021 ISSUE

Greetings NACOC Families,

Welcome to magnificent March, a month of springing aspirations. It’s a month of makers, transformers, mothers, and daughters. March celebrates life, creation, hope, new dreams, and the world celebrates March 8^th as International women’s day.

Women cover half the sky. Whereas women have established their presence in diverse professions, there still is a room for expansion for women entrepreneurs and business leaders. Once labeled only as homemakers, mostly associated with clothing, cosmetics or household business in past, women’s manifestation as self-made businesswomen and innovators in many areas including science, technology, and real estates is reshaping the present world.

While the upsurge of women in business is remarkable in past couple decades, we have picked 10 basic areas; such as Television, Cellphone, Face-Book, YouTube, Food, Drink, Books, Music, Non-profit and Real estate; where these women have imprinted their names.

Let us meet 10 of these influential women entrepreneurs, and let’s share their inspiring stories to empower your mothers, daughters, sisters, and friends, including YOU!

Oprah Winfrey is an American talk show host, television producer, actress, author, and philanthropist. She was a child of an unmarried teen mother, raised in poverty by her grandmother, who often made her outfit using potato sacks, but instilled value of reading.

She has become the "Queen of All Media,” a richest African American of the 20th century^,and, also North America's first black multi-billionaire.

Net-worth- 2.7 billion USD

J.K Rawlings is a British author and philanthropist. She is best known for writing the Harry Potter fantasy series, which has won multiple awards and sold more than 500 million copies, becoming the best-selling book series in history. Once a single parent, she encountered countless failures in her journey as a writer, but didn’t give up and became the world’s first billionaire author.

Net-worth- $1 billion USD

Lady Gaga is an American singer, songwriter, and actress. She is known for her image reinventions and musical versatility. She started performing as a teenager, singing at open mic nights and acting in school plays. Once dropping college to pursue a career in music, she has become the Queen of Pop; selling over 124 million best records of all time.

Net-worth- $320 million USD

Melinda Gates is an American philanthropist and a former general manager at Microsoft, the world's largest computer software company. She is a Dallas girl, whose first job was tutoring children in mathematics and computer programming. Married to Bill Gates, they have donated US$28 billion to the Foundation- the woman in technology.

Net-worth- 70 billion USD together

Cher Wang is an entrepreneur and a philanthropist. This Taiwan born UC Berkeley student started a fairly early model of smart phones in 1997 and become one of the most powerful and successful women in computer technology.

Net-worth- 1.1 billion USD

Sheryl Sandburg, a COO of Facebook, is an American business executive, billionaire and a philanthropist. A quote from her popular book "Lean In"- A truly equal world would be one where women ran half our countries and companies and men ran half our homes.

Net-worth- 1.7 Billion USD

Indra Nooyi, former CEO of PepsiCo, giving strategic redirection to the company “Performance with a Purpose,” was ranked the 2nd most powerful woman on the Forbes list of The 19 Most Powerful Women in Business. This Madras-India born woman also hit the 3rd spot among "World's Powerful Moms" list. Nooyi and her husband Raj donated 187,000 Scholastic books to Connecticut's alliance school districts as part of the Partnership for Connecticut during the COVID-19 crisis.

Net-worth- $100 million USD

Zhan Xing is a Chinese billionaire businesswoman, having primarily earned her fortune in the real Estate industry. Xing, the co-founder of SOHO China, once was a factory worker, who was known as “the woman who built Beijing.”

Net-worth- $3.1 billion USD

Susan Diane Wojcicki, the CEO of YouTube has been in the Tech industry since 20 years. Her first business was selling "spice ropes" door-to-door at age 11. She only took her first computer science class as a senior, however, earning recognition as “the most powerful woman on the Internet.”

Net-worth- $580 million USD

Martha Stewart is an American retail businesswoman, a chef, and a writer. Her mother taught her how to cook and sew, later she made fortune using her skills & interest. She started as a baby sitter when she was 10, started modeling at the age of 15, and made $50/hour in 50’s, ending up inducting into the Licensing International Hall of Fame.

Net-worth- $500 million USD

"The Greatest discovery of all time is that a person can change his future by merely changing his attitude."-Oprah

Let this month change your attitude to Gratitude!

Sincerely,

Nepalese American Chamber of Commerce

The Nepalese American Chamber of Commerce is an independent, not-for-profit US Corporation devoted to create, protect, promote and enhance economic opportunities & prosperity to Nepalese Business community in the USA.

It was established in 2014 to advance and promote the economic environment for business, and to advocate responsive government and quality education, while preserving unique characteristics of Nepalese-American communities.

March Birthday Special

March Birthday? Your birthstone is Aquamarine, a symbol of youth, health and hope. It's mesmerizing color ranges from pale to deep blue and are reminiscent of the sea

“Your time is limited, so don’t waste it living someone else’s life.”

― Steve Jobs

March says: Let's Go Green

Budget + Environment

How To Go Green on a Budget

The idea of “going green” can be intimidating for many people. It’s often mistakenly assumed that going green is an expensive and time-consuming practice when in reality, it simply means incorporating small, environmentally friendly habits into your everyday life that can help make a positive impact on the planet. Check out some easy ways to create a more sustainable lifestyle without breaking the bank.

Reduce Purchases

Everyone’s favorite sustainable tip is “reduce, reuse, recycle” but we tend to focus on reusing and recycling more than reducing.

Minimize Driving

Cut down on gas consumption and pollution by choosing to walk, jog, bike, skate, or some other form of physical activity that gets you to your destination.

Meal Prep

Meal prepping is often a tip suggested for those looking to create a healthier lifestyle, but it’s also great for those looking to develop a more sustainable lifestyle!

Cut Down on Heating and Air Conditioning

As the weather finally starts to warm up a bit, it’s a great time to consider how you’re heating and cooling your home. When the weather allows, turn off your thermostat and open the windows to naturally regulate the temperature and air out your home.

Check Out the Local Farmer's Market

Many often associate organic and locally grown foods with high costs, but this is not the case if you purchase the right foods at the right times!

Unplug

The thought of going green can feel scary, in regard to both time and cost. But the truth is, making small changes to your lifestyle can create a big impact down the line. Plus, these changes can actually help you save money in the long run. Go green and save your green with these helpful tips!

"If you can dream it, you can do it."

"The way to get started is quit talking and begin doing."

~Walt Disney

Restaurants are Big Beneficiaries of COVID-19 Relief Bill

NEW YORK (AP) — Restaurants devastated by the coronavirus outbreak are getting a lifeline from the pandemic relief package that’s awaiting President Joe Biden’s signature.

The bill that gained final congressional approval Wednesday adds money to the Paycheck Protection Program and provides indirect help to small businesses in general through stimulus payments and unemployment benefits. But restaurants got the biggest share of direct help: $28.6 billion in grants for restaurants whose revenue fell in 2020 as a result of the pandemic.

The bill calls for grants equal to the amount of restaurants’ revenue losses, up to a maximum of $10 million per company and $5 million per location. Eligible companies cannot own more than 20 locations, and they can’t be publicly traded. The bill sets aside $5 billion for the smallest restaurants, those whose annual revenue is $500,000 or less.

Industry groups welcomed the grants. The National Restaurant Association, an industry organization, noted that the Senate added $3.6 billion to the $25 billion allocated in the original House bill. While the $28.6 billion in the bill was only about a tenth of the amount of money the industry has lost during the pandemic, the restaurant group sees it as a win.

“It’s going to keep doors open. The smallest and hardest hit are going to get the help they’ve needed the most,” said Sean Kennedy, an executive vice president at the group.

To read full article: https://apnews.com/article/lifestyle-small-business-bills-coronavirus-pandemic-eb58f48a99570165af24387424b9c047

You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.

-Maya Angelou

Community Update

SBA Disaster Assistance Available

for Texas Businesses and Residents Affected by Severe Winter Storms

Low-interest federal disaster loans are now available to Texas businesses and residents as a result of President Biden’s major disaster declaration, U.S. Small Business Administration’s acting Administrator Tami L. Perriello announced.

The declaration covers 108 Texas counties as a result of the severe winter storms that began on Feb. 11, 2021. The U.S. Small Business Administration (SBA) is offering low-interest disaster loans to non-farm businesses of all sizes, private nonprofits, homeowners and renters in the Texas counties of Anderson, Angelina, Aransas, Austin, Bastrop, Bee, Bell, Bexar, Blanco, Bosque, Bowie, Brazoria, Brazos, Brown, Burleson, Burnet, Caldwell, Calhoun, Cameron, Chambers, Cherokee, Collin, Colorado, Comal, Comanche, Cooke, Coryell, Dallas, Denton, DeWitt, Ellis, Erath, Falls, Fannin, Fort Bend, Freestone, Galveston, Gillespie, Gonzales, Grayson, Gregg, Grimes, Guadalupe, Hardin, Harris, Harrison, Hays, Henderson, Hidalgo, Hill, Hood, Houston, Hunt, Jackson, Jasper, Jefferson, Jim Wells, Johnson, Jones, Kaufman, Kendall, Lavaca, Liberty, Limestone, Lubbock, Madison, Matagorda, Maverick, McLennan, Medina, Milam, Montague, Montgomery, Nacogdoches, Navarro, Nueces, Orange, Palo Pinto, Panola, Parker, Polk, Rockwall, Rusk, Sabine, San Jacinto, San Patricio, Scurry, Shelby, Smith, Stephens, Tarrant, Taylor, Tom Green, Travis, Tyler, Upshur, Val Verde, Van Zandt, Victoria, Walker, Waller, Washington, Wharton, Wichita, Williamson, Wilson, Wise & Wood who suffered losses caused by the severe winter storms.

In consideration of the public health concerns due to the Coronavirus pandemic, on Tuesday, Feb. 23, SBA will establish a Virtual Business Recovery Center to provide personalized assistance to business owners. In addition, SBA will also open a Virtual Disaster Loan Outreach Center to help homeowners and renters. Customer Service Representatives will be available to business owners and individuals to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application.

Virtual Business Recovery Center and

Virtual Disaster Loan Outreach Center

Monday – Friday

8 a.m. – 8 p.m. EDT

[email protected]

(800) 659-2955

TTY: 800-877-8339

or visit www.sba.gov/services/disasterassistance.

To be considered for all forms of disaster assistance, survivors must first contact the Federal Emergency Management Agency (FEMA).

Care for Resources on Women-owned Small Business?

Check these out:

Ref: https://www.sba.gov/business-guide/grow-your-business/women-owned-businesses

American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic

On March 11, 2021, President Biden signed the American Rescue Plan Act into law, which provides additional relief for the nation’s small businesses and hard-hit industries for programs the SBA is currently administering and adds new efforts. Specifically, the new law includes:

$7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
Additional funds are allocated for the Shuttered Venue Operators Grant program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020, and the SVOG
$15 billion additional for Targeted Economic Injury Disaster Loan Advance (EIDL) payments, including NEW $5 billion for Supplemental Targeted EIDL Advance payments for those hardest hit
NEW: $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants
NEW: $100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID–19 pandemic assistance programs and resources.

Read more @https://www.sba.gov/article/2021/mar/11/american-rescue-plan-act-elevates-small-business-support-response-covid-19-pandemic?utm_medium=email&utm_source=govdelivery

Johnson & Johnson COVID-19 Vaccinations Begin in Dallas

Dallas County began administering the Johnson & Johnson COVID-19 vaccines Friday, March5th at the FEMA site at Fair Park.

North Texas received 12,000 doses of the new vaccine, 6,000 were to go to each of the FEMA vaccine sites in Dallas County and Tarrant County.

The Johnson & Johnson vaccine has shown a 72% efficacy rate against mild to severe or critical disease among U.S. trial participants. It’s more effective against severe forms of the disease, with about 85% protection.

Biden Changes P.P.P. Rules to Help the Self-Employed

Biden administration abruptly changed crucial program rules in ways intended to help the smallest and neediest companies, which have sometimes struggled to obtain aid from the federal relief effort.

The changes include a new way to calculate loans for self-employed people and a 14-day exclusive window for applications from businesses with fewer than 20 employees.

The adjustments are intended to increase aid to the very smallest businesses, many of which are run by women, Black people and members of other minority groups and have so far received a disproportionally small share of the relief money.

But the changes risk throwing an already turbulent program into chaos as banks and other lenders try to accommodate the last-minute shifts. With just five weeks to go before March 31, when the latest iteration of the program is scheduled to end, lenders were left scrambling to adapt to new rules that won’t even be fully explained to them until later this month.

Companies with fewer than 10 employees have collected 80 percent of the loans made this year, receiving a total of $42 billion in loans — about 30 percent of the money the program has distributed. More than half the funding allocated by Congress remains available.

There were three other notable changes. Those with recent felony convictions not tied to fraud will now be able to apply, as will those who are delinquent or in default on federal student loan debt. The agency also updated its guidance to clarify that business owners who are not United States citizens but who are lawful residents are eligible for loans.

The White House remains confident that the program will have a significant amount of money remaining for other loans once the two-week period ends. Mr. Biden and his team have not called on Congress to push back the March 31 deadline.

The Paycheck Protection Program was a signature effort of the Trump administration, disbursing $523 billion in forgivable loans to small businesses last year.

Read full article: @https://www.nytimes.com/2021/02/22/business/smallbusiness/paycheck-protection-program-small-business-biden.html