Business
News for July 29, 2020
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Today's message includes the following:
- Need staff? Join UW-Work Study program, and you could hire students with 75% of their salary covered
- HR provides valuable insight on small business HR
- Debt Relief for New SBA-Backed Loans
- Upcoming learning opportunities
- Biz Smart Sprint
- SHRM Certification Preparation course teaches HR skills
- Launch into Leadership
- Understand Your Market and Advertise to them on a Budget
- Coronavirus Tax Relief for Employers and Business Owners
Additionally, congratulations to UW-Madison SBDC Director Michelle Somes-Booher on her recent selection as the
Wisconsin SBDC State Star
!
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Need to Add Staff to Your Team?
UW-Madison Work-Study Students Are a Great Resource!
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The Federal Work-Study program is a federally funded initiative that aims to bring employers and college students together to build impactful employment opportunities that benefit both the employer and student. In the past, this program has been reserved for on-campus and non-profit organizations, but has recently been expanded to small businesses in the surrounding Madison area.
Benefits of the program:
- 75% of the wages earned by eligible students will be covered by the program, leaving only the remaining 25% to be paid by your business (until the student’s award amount has been met)
- Increase your organization’s visibility and mentor the next generation of young professionals while providing relevant, part-time employment for UW-Madison students with financial need
Program Logistics:
Learn more and verify your eligibility for this program by completing the Federal Work-Study partner
eligibility questionnaire
.
The process of becoming a FWS partner takes about 3-4 weeks, from the date the application is received to the final approval.
If deemed eligible, you will be able to compensate UW-Madison student employees using funds provided by the FWS program.
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Please Participate in HR Trends Survey
Survey Provides Valuable Insight to Small Businesses
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The year 2020 has proven that the only constant is change. As employers manage changes in the world of work, data-driven insights into the latest HR trends and strategies become all the more important.
For over a decade, QTI’s annual Human Resources Trends Survey has provided hundreds of employers with insights on topics like compensation, benefits, careers, well-being, and diversity and inclusion.
By participating in the 2021 Survey - which will close on Friday, August 7
th -
you will be adding to the body of knowledge for local small businesses. Participants will receive an exclusive copy of QTI’s final report, which will show how organizations are optimizing HR strategies to succeed in the new world of work. The SBDC is also working with QTI to provide a fall informational session reviewing the contents of the survey.
The more local small businesses participate, the more comprehensive knowledge we can provide!
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Debt Relief for New SBA-Backed Loans
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As part of their coronavirus debt relief efforts, the
SBA is paying six months of principal, interest, and any associated fees
for current and new SBA-backed loans disbursed before September 27 in the agency’s most popular loan programs (7(a), 504, and Microloan).
Note: If you’re seeking a loan to cover fixed assets such as furniture, real estate, machinery, equipment, construction, and/or remodeling, you may need to have information to your lender by August 7 for the loan to be processed in time.
Learn more
about starting or growing your small business with an SBA-guaranteed loan and start the process now to take advantage of six months of debt relief.
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Upcoming Learning Opportunities
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Looking to Learn or Revisit Business Basics?
Biz Smart Sprint will start you off on the right foot
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Biz Smart Sprint is your introduction into the world of entrepreneurship. In this live, virtual 5-week course, you will learn the building blocks you need to become a successful entrepreneur. Each week, you’ll discover the key components you need to start a business, including the Business Model Canvas business planning tool, understanding your customers and market, developing a marketing strategy, legal and operational considerations, and financial basics.
In addition to the program content, you’ll receive client access to
GrowthWheel
, a comprehensive online platform that provides you with tools designed by an entrepreneur and used worldwide. These tools enable you to see a 360-degree view of your business and to break down business decision-making into smaller pieces – brick by brick.
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SHRM Certification Preparation Course Equips You with HR Skills
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Whether you are a full-time HR professional or a business owner who needs to know the ins and outs of human resources to be able to work with your team, the accredited SHRM certification exam provides you with practical knowledge for the field. Taught by experienced HR professionals and including case studies into the curriculum, the course gives you the opportunity to learn from real-life examples and interact with other professionals in the field.
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New Supervisor?
Launch into Leadership will Help You Build Skills for a Smooth Start
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Taking on new supervisory responsibilities is a great opportunity and challenge. Many in supervisory roles have learned either by trial and error or by following what was done by their predecessor. In most cases, this is not a very effective strategy. This one day workshop will get you going in the right direction with some fundamental skills and ideas for how to continue your growth as a supervisor and leader.
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Understand Your Market and Advertise to them on a Budget
Live, online session co-hosted with the Wisconsin SBDC at Stevens Point
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Utilize market analysis tools to narrow down on your target market and create customer avatars. Learn how to use the avatars and target market information to use your advertising dollars effectively.
Speaker (pictured): Melissa Meschke, SBDC Director at UW-Stevens Point
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Coronavirus Tax Relief for Employers and Business Owners
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Join the SBA Wisconsin District Office, the IRS, and the U.S. Department of Labor to discuss Coronavirus Tax Relief for employers and business owners. During this webinar, you'll learn about the Employee Retention Credit, and Paid Sick Leave, and Paid Child Care Leave. These programs offer a credit on employment taxes to business owners who participate.
Thursday, July 30, 2020
2:00 pm – 3:30pm CDT
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