September Events:

Start Simple: Spanish Version

September 11th, 2024

5:00 PM

This co-hort will be offered specifically to our Spanish speaking community.

Learn basic business concepts and figure out if your business goals are realistic and achievable. Start with this 4week course (2hrs/week) and then move on to one on one counseling. Offered at no cost. Classes will be held on Wednesdays starting: September 11th, 18th, 25th and October 2nd from 5-7 in Brewster, WA.

Okanogan County Thriving Communities

September 11th-12th, 2024

8:30 AM-4:30 PM

12 Tribes Omak Hotel, 28968 Hwy 97,

Omak, WA 98841

A Community-Centered Convening with Federal & State Partners and Key Community Leaders to Talk About Federal & State Programs to Help Grow Okanogan County. Register here!

Quick Byte: Gross and Net Profit

September 12th, 2024

10:00 AM

Tune in to our Facebook or YouTube pages to watch this short video and learn more about concepts to make sense of gross and net profit, learning how to calculate them and what they're used for.

Tax Planning & Updates for

Small Businesses

September 17th, 2024

9:00 AM - 11:00 AM

12 Tribes Omak Hotel, 28968 Hwy 97,

Omak, WA 98841

Presentations from CNC Financial Group LLC:

Kyle Meissner, CPA, Financial Advisor Member & Charlie Miracle, CPA, Financial Advisor, Member

Topics Covered:

• TCJA Provisions Sunsetting
• Business Asset Depreciation
• Estate Planning considerations for business owners
• Considerations for Entity Type
• Retirement Planning For Business owners
• Tax on sale of businesses
• Deductions for business owners
• Accounting software choices
• Payroll Tax Considerations

Click Here to sign up today!



Start Simple

September 19th, 2024

5:00 PM

Have a Business Idea? Let’s make it happen!  

Learn basic business concepts and figure out if your business goals are realistic and achievable. Start with this 4week course (2hrs/week) and then move on to one on one counseling. Offered at no cost. Classes will be held on Thursdays starting: September 19th, September 26th, October 3rd, and October 10th from 5-7 at the Economic Alliance office and can be offered via zoom if needed.

Click Here to sign up today!

Small Business Workshop

October 2nd, 2024

9:00 AM-11:00 AM

Join us and Washington PTAC to learn how to get your business certified as a HubZone Business, and learn how to create a Capability Statement that will make your business stand out when applying for Government Contracts. Click Here to register

Past Trainings Available on Demand

In case you missed our previous training on Smart Phone Photography, you can catch up here!

Learning Opportunity

As a business owner, do you know which numbers really matter when it comes to your company's financial health? Whether you're looking to grow or seeking a loan, understanding key financial metrics is crucial.

Our latest article breaks down the top 10 financial metrics that established businesses should track. These numbers not only help you gauge your company's performance but also play a big role in loan decisions. Here's a sneak peek at what you'll learn:

• The metrics that directly link to the loan amount you can handle
• A simple ratio that shows if you can comfortably repay a loan
• The number that reveals how well you're managing your inventory

Read about it here!

Three Tips For Small Business Borrowers In A High Interest Environment

Don’t sit tight if you see an opportunity to grow your business. Do not wait for a Federal Reserve interest rate cut that may not occur. Anyone who has made their decision on borrowing on waiting for interest rates to decline has been sitting idle since late July of 2023. Examine the opportunity costs of doing nothing. Will you miss out on buying a property or signing a lease to build a new facility because you think the cost of capital is too high? Had you borrowed the money last summer, your facility might be operational already or very soon. If the location were a lucrative one, then you have lost out on a big opportunity by trying to wait out the Fed policymakers.

Shop around. Whether the country is in a high or low interest rate environment, look for the best deals. SBA lending is robust, and with the government backing that comes from the agency, approved SBA lenders are making loans to qualified borrowers. If your credit is less than stellar, you can search for capital from non-bank lenders, including online lending platforms. While the rates will be higher than bank term loans and SBA loans, non-bank lenders are usually willing to provide funding, albeit at a higher coast of capital.

Streamline your operation. Are you as lean as you can be without hampering an influx of business? If you need to borrow money to replace aging equipment, expand your operation, or open a new location, it’s important to understand that higher interest rates appear to be on the horizon for a while. Factor in the higher cost of capital and look for ways to cut costs in other areas, such as reducing inventory levels, negotiating with existing vendors or looking for new suppliers who can offer more attractive deals.

Information courtesy of forbes.com

Attention Owners

of Commercial Buildings or Lots!

The Economic Alliance is compiling a list of vacant properties that are for sale, lease or rent throughout Okanogan County. We receive several inquires throughout the year from individuals who are looking for a locations to start/move their business to. We would love to add yours to our list!

Please send the following information to Mason Duke.

• Location-Physical Address
• Lot/Building size
• Utility- Information-electrical load capacity, AC/Heat pump etc.
• Ceiling Height
• Rooms, Restrooms, amenities etc
• Asking price

Are you interested in making a difference in Okanogan County??

The Economic Alliance is now recruiting for new Board Members! We recently added new positions to our board, and we would love to have additional small business representatives join us from throughout the county! Please email Roni or call 509-826-5107 to learn more!



We have also facilitated the CCT and Okanogan County Broadband Action Team since 2019! If you are interested in participating in this great group of people who are committed to bringing broadband infrastructure to all the residents in Okanogan County, please email Roni today!

If you are interested in participating or learning more about these committees, give us a call at 509-826-5107

For Immediate Release

The Economic Alliance is now accepting Pre-Application letters of intent to apply from organizations, entities, municipalities, counties, private businesses and individuals in Okanogan County and the Colville Confederated Tribe for the 2025 annual Okanogan County Public Infrastructure and Community and Economic development project prioritization process.

Interested applicants are asked to first submit a one-page letter of inquiry that briefly explains the type of project, scope of the project, timeline and outlines the anticipated request of the Economic Alliance. This is being done to ensure that applicants are eligible and soliciting appropriate support from the Economic Alliance prior to completion of the full application.

Submitted letters of inquiry will be reviewed by the Economic Alliance infrastructure committee and appropriate projects will be invited to submit a full application. Projects will be ranked into 2 categories Public Infrastructure Projects and Community and Economic Development Projects, in part, based on the following: measurable economic benefits, measurable community benefits, fully developed plan, project readiness, workforce development and alignment with Okanogan County and Economic Alliance goals and objectives, local and regional support.

An application readiness workshop will be held on September 10th, from 9-11 AM, a RSVP will be required to attend.

The Economic Alliance facilitates the Okanogan County Public Infrastructure and Community and Economic Development application and review process on an annual basis and provides the Okanogan County Commissioners with a prioritized master list of projects. The deadline for the letters of intent to apply will be 5pm, September 27th, 2024.

If you have any questions, please contact Roni directly at 509-322-4634.

We would like to Introduce

our Western Washington University Intern!

My name is Sirianna McLeod, I am a senior at Western Washington University in Bellingham, studying Business and Sustainability. Through the Sustainability Pathways program I was granted a 10 week fellowship with the Okanogan County Economic Alliance for Summer 2024.

During these 10 weeks as the Economic Alliance’s Business Outreach and Communications Fellow I have been so grateful for the support of this community and the Economic Alliance staffs’ dedication to local economic development. From marketing projects and outreach to experiencing the workings of a RFP process (Request For Proposals) and working on the EA’s Prioritization Process, I have gotten to implement my studies in a way I haven't had the opportunity to before. My experience here in Okanogan county has opened my eyes to new ways of thinking about economic development and nurtured me to grow through the work I have engaged with.

The ongoing community engagement of the Economic Alliance has provided me with context for what I have been studying at WWU, and given me the opportunity to continue learning in a hands-on way with this wonderful community. I am so thankful for the chance to work with the entire staff here and learn alongside them. Thank you all for empowering me to explore how I can be involved in the betterment of communities and their economies in the work I plan on continuing to be involved in post-graduation.

Funding Opportunity

Small nonfarm businesses in 18 Washington counties are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration.

Eligibility

Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for businesses and 3.25 percent for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship.



Click Here for more information on how to apply!

Learning Opportunity

Whether you are a small shop, or a volunteer run organization, your nonprofit’s success depends on finding qualified, dedicated people and keeping them happy, engaged, and accountable. While small nonprofits face complex challenges in accessing and implementing strategic human resource management, leaders at all levels can still pursue impactful systems, even with limited time and resources.

Understanding the essentials is critical because nonprofit HR includes areas required for compliance with local, state, and federal law as well as great team development. In this workshop, participants will explore regulations and practices that support an organization’s ability to pursue its mission in the most effective way possible through talent management, compliance, recruitment, and onboarding. Click Here

Funding Awarded!

Congratulations to the Okanogan School District on their 2023-2025 Early Learning Facilities Health and Safety Minor Renovation Grant Award!

These grants sustain critical facilities that give parents choices to meet their family’s needs and ensure more access and availability to high-quality child care.

The Washington State Department of Commerce today announced more than $7 million in grants to 64 early learning providers across the state. The grants provide financial assistance for licensed child care providers to make minor renovations that improve health and safety, such as updated playground equipment, sanitation spaces, fencing, HVAC upgrades and light fixtures.

The Early Learning Facilities Program, administered by Commerce, has awarded more than $180 million to create more than 12,500 child care slots statewide. ELF launched in 2017 to create more early learning classrooms and ensure all children are prepared to enter kindergarten. The ELF grant program funds new construction, renovation and acquisition projects that increase or retain early learning capacity at in-home and child care center facilities with a focus on child care deserts and children from low-income households. There is no additional minor renovations funding available at this time, and can only be made available again if the Legislature appropriates it.

For more information Click Here!