From: Stacie Hargis [twilliams@lowellsbac.ccsend.com] On Behalf Of Stacie Hargis [shargis@comteam.org]
Sent: Friday, March 11, 2011 5:35 PM
To: Bill Lipchitz
Subject: Monthly News from Lowell Small Business Assistance Center
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| | LSBAC Monthly Newsletter
March 2011 Keeping you updated and informed. | |  | | Greetings! I would like to introduce myself as the new Director of the Lowell Small Business Assistance Center. As you may be aware, Russell Smith retired in January after many dedicated and productive years here at the Center. He will be missed greatly by many of the community members he collaborated with and small businesses he helped. I eagerly look forward to working with you, getting to know your business and building upon his superlative work. Each month I will send out an E-news to update you about what is going on at the Center and any important resources or information that will be helpful to you and your business. I also want to hear from you! How can we further assist you? Please feel free to contact us about what you think would be most helpful for your business. For example, what trainings or workshops would you like to see us hold? What resources have you utilized here in the Center that has helped you start or grow your business? I look forward to our road ahead and the bright future that it holds. Please feel free to contact me with any questions, comments or suggestions. Sincerely, Stacie Hargis
Director Direct: 978-322-8401 Email: shargis@comteam.org | | | | Don't forget! Take advantage of the Small Business Health Care Tax Credit: Eligibility Rules · Providing health care coverage. A qualifying employer must cover at least 50 percent of the cost of health care coverage for some of its workers based on the single rate. · Firm size. A qualifying employer must have less than the equivalent of 25 full-time workers (for example, an employer with fewer than 50 half-time workers may be eligible). · Average annual wage. A qualifying employer must pay average annual wages below $50,000. · Both taxable (for profit) and tax-exempt firms qualify. Amount of Credit · Maximum Amount. The credit is worth up to 35 percent of a small business' premium costs in 2010 (25% for tax-exempt employers). On Jan. 1, 2014, this rate increases to 50 percent (35 percent for tax-exempt employers). · Phase-out. The credit phases out gradually for firms with average wages between $25,000 and $50,000 and for firms with the equivalent of between 10 and 25 full-time workers.
(Internal Revenue Service Website, March 7, 2011) Find out if you qualify in three easy steps through this IRS worksheet: http://www.irs.gov/pub/irs-utl/3_simple_steps.pdf Find out more here: Internal Revenue Service Website Free Second Look Tax Review Program
HR Block is running a program where they will take a second look at your taxes for free. Please contact HR Block directly for more information. www.hrblock.com or 800-HRBLOCK to find the nearest one to you.
| Announcements How do you envision Lowell in 2020? The Emergent Generation: Creating that much more to like about Lowell For Lowell to continue to grow as a vibrant welcoming city it is crucial that we engage the emergent generation of 22-35 year-olds, currently living or working in the city, in a dialogue about the hopes and expectations they have for this community. In an effort to hear the voices of this generation, the Innovative Cities Committee is hosting a working dinner to: provide an opportunity give input about the city's strengths and weaknesses generate ideas about how to continue to improve the quality of life for the Lowell community and further strengthen social networks within and between this generation and all those living and working in the city This 'Conversation' will be held on Thursday, March 24th from 6 to 9 at Tepthida Khmer (115 Chelmsford St. www.tepthida.com). A three course dinner featuring traditional Cambodian food will be provided, but there are a limited number of spaces for this initial conversation. To access our (very short and painless) application, please click: HERE, otherwise you may not be able to attend. For all other questions, concerns or comments, please email Derek at lowellemergentgeneration@gmail.com. | | Find out what tax law changes have happened and how they affect your business.
Want your Restaurant to be in a Cookbook?
The Cultural Organization of Lowell is looking for any Lowell restaurant that would like to contribute a recipe to their upcoming Lowell Cookbook. If you are interested in participating or would like to know more, please contact Kay Ransdell at k.ransdell@comcast.net. University Impact on Downtown
Recently The Lowell Plan and UMass Lowell released a report outlining the economic impact the university has had on the downtown and its role in sustaining a vibrant community. According to this Downtown Initiative Report: · 91 percent of faculty and staff reported visiting downtown approximately eight times each academic year and spending an estimated $30 on each visit; · 82 percent of students reported visiting downtown in the past year and 30 percent said they go downtown once a week or more; · A sample group of commuter and resident students who tracked expenditures in Spring 2010 reported spending $37.10 weekly in Lowell. Learn more about this report here: http://www.uml.edu/community/Reports_and_Resources.html Tell Us Do you have a business related announcement you would like to share? Do you offer a business service that you think would benefit other businesses? Please send your announcements directly to shargis@comteam.org. | | | | | | | Upcoming Seminars The Center's Seminars are an opportunity to address more specific needs. Space is limited, so please contact Terry Williams at twilliams@comteam.org or 978-322-8401 to sign up. There is no charge. Monday March 21: 6 pm - 8 pm
Tax Talk in Spanish Monday April 4: 6 pm - 8 pm
Developing a Marketing Plan Monday April 11: 6 pm - 8 pm
Using Accounting to Unlock Profitability Thursday April 14: 6 pm - 8 pm
Using Accounting to Unlock Profitability Monday April 25: 6 pm - 8 pm
Using Social Media for Your Business Upcoming Right Start Trainings The Center's Right Start Entrepreneurship Training Program provides a solid educational foundation on which to build your business. Intro to Business, Marketing, Personal Selling, Bookkeeping and Taxes, Financing, and Business Law in six - three hour sessions. Practical, flexible, taught by small business professionals...what you learn could spell the difference between success and failure. Right Start Training are on Wenesdays from 6 pm - 9 pm. Space is limited, so please contact Terry Williams at twilliams@comteam.org or 978-322-8401 to sign up.
Cost is $90 for all six in the series. (There are opportunities for waived fee, please ask).
March 16: Bookkeeping and Taxes
March 23: Finance
March 30: Business Law
April 6: Introduction to Business
April 13: Marketing
April 20: Sales
April 27: Bookkeeping and Taxes | | | The mission of the Lowell Small Business Assistance Center is to provide entrepreneurs from ethnically and economically diverse groups with the education, tools and resources needed to create, sustain or expand viable small businesses. | | | | | | The Lowell Small Business Assistance Center
is a one-stop business assistance center that provides one-on-one counseling, entrepreneurship training, and a variety of seminars. Call
(978)322-8400
for more information. | | | | | | | |
| Lowell Small Business Assistance Center | 88 Middle Street, Room 202 | Lowell | MA | 01852 |
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