• Title

  • View the results of the NH Small Business Development Center's 2020 Impact Report

     

     

     

    Working Together with NH Small Businesses

     

    We will remember 2020 for the unexpected challenges that tested us in a way no one could have ever imagined. 

     

    We will also remember 2020 for bringing out the best in all of us, pulling us together with that distinctly New Hampshire spirit of community and helpfulness.

     

    Thanks to the support from our federal, state, and local partners, the SBDC helped 7,178 businesses through this pandemic to not only survive, but in many cases, thrive.

     

    Read NH SBDC's 2020 Impact Report to learn more about how we pivoted to better serve businesses with new programs and services.

    Important PPP Updates for

    Self-employed Schedule C Filers

     

    Good news! The PPP loan formula for self-employed people has changed.

     

    Anyone who files their taxes on a Schedule-C 1040 is now eligible to calculate their loan amount on their gross income (Line 7) or their net income (Line 31). You can still choose between the 2019 or 2020 tax year. If you have not filed your taxes yet, that’s ok, you only need to have a draft schedule C prepared.

     

    The addition of gross income means that self-employed people who were previously excluded because they had a net income loss are now eligible! Your gross income must still be reduced to a maximum of $100,000. If you also have employees, you must subtract their salary and benefits from your gross income. So, the formula for your loan is now:

     

    [2019 or 2020 Gross Income minus employee compensation (maximum of $100K)] /

    12 * 2.5 (or 3.5 for NAICS 72 code businesses)

     

    These changes only impact new applicants for the first or second round of PPP and will not be retroactive. You have till March 31st to apply.

     

    Connect with an SBDC Advisor today or attend one of our webinars to learn more about your COVID relief options!

    Moving Small Businesses Towards Resilience

     

     

    2020 taught us that every business regardless of size, industry, or stage of growth needs a resiliency plan. The planning a business does in advance can mean the difference in how quickly they recover or whether they recover at all. The Small Business & Community Resiliency Academy will help you start or update your resiliency plan.

     

    Academy Schedule: 

    Wednesdays 9:00 a.m. – 11:00 a.m.

    April 7, April 21, May 5, May 19 & June 2

     

    The Academy features speakers, panelists, and a workbook so that you have a format to follow to build your resiliency plan. Businesses that register for the Academy will have access to regional or industry-specific cohorts. SBDC business advisors will facilitate these small group sessions on alternating weeks throughout the Academy to delve deeper into the resiliency planning process.

     

    Check out the top 3 reasons why businesses should sign up to be part of a regional or industry cohort. Contact us to learn more about joining a cohort.

     

     

    COVID Creativity: Zem Zem

     

     

     

    Zem Zem is a Manchester-based Middle Eastern restaurant run by Ali Shukur, his wife, and two teenage daughters. A family friend got them connected to the NH SBDC in 2018, as they pursued their dream of opening their own restaurant, and they were connected with business advisor Andrea O’Brien to make their dream a reality. Read more.

     

     

    SBDC Recovery & Resiliency Webinars

     

    COVID Assistance for the Self-Employed

    March 11 & 25 | 10am

    Sole proprietor, Schedule-C filer, or LLC? Join us to review special considerations for PPP and other federal relief programs, as well as your eligibility for Pandemic Unemployment Assistance.

     

    PPP Applications in 2021, Both First and Second Draw

    March 16 | 10am

    We'll help you understand the 2021 PPP Application process and whether you are eligible for the first or second draw. Get your questions answered during the Q & A.

     

    Last Call for PPP Applications

    March 29 | 10am

    Bring all your questions about PPP, applications, forgiveness, etc. The application period ends on 3/31. Don't miss out on applying! Get your questions answered during the Q & A.

     

    All above webinars presented by Chuck Gilboy, NH SBDC Business Advisor

     

     

     

     

    SBA Webinar Wednesday

     

    SBA Webinar Wednesday

    The SBA has programs and services that help small business owners start, grow, expand and recover. Get the latest updates on federal relief programs every Wednesday morning, 9-10am at this Teams meeting link.

     

    Save the Dates!

     

     

    Stay Connected!

     

     

     

    Visit the SBDC COVID-19 website.

    Check out SBDC's webinar calendar.

    Request SBDC advising.

     

     

     

     

    NH SBDC is NH's premier business advising resource. SBDC's team of certified business advisors provides highly individualized, confidential advising and education at no cost to NH enterprises.

     

     

    Funded in part through a Cooperative Agreement with the U.S. Small Business Administration (SBA ) and through assistance provided by the State of New Hampshire. The NH SBDC is an outreach program of the UNH Peter T. Paul College of Business and Economics in conjunction with SBA, the State of NH (BEA), the University of NH, and the private sector.

     

     
     
     
     
     

     

    NH Small Business Development Center | 10 Garrison AvenueDurham, NH 03824

     

    Trusted Email from Constant Contact - Try it FREE today.