RESOURCES AND FUNDING OPPORTUNITIES FOR SMALL BUSINESSES

Consultant Technical Assistance Program Update! After successful first round of the Consultant Technical Assistance Program for Small Businesses, we are pleased to announce a second round of assistance. We will be offering an extra 3 hours of technical support at NO COST to you in the second category that you selected in the initial survey.   If you are still interested in being connected to a private consultant to receive this service, or if your preference has changed, please reply to this email or email zduffy@strafford.org.

SBDC In-Person Advising SRPC is pleased to announce community partnerships that have been created with the NH Small Business Development Center (SBDC) to bring in-person business advising services directly to you in: Dover City Hall (Fourth Tuesday of each month), Rochester EDC Office (First Tuesday of each month) and Somersworth City Hall (Second Tuesday of each month). Online Zoom meetings are also available every weekday servicing the entire state of New Hampshire. SBDC’s team works with small businesses to help them start-up, grow, create jobs, remain resilient, and always be prepared to respond to the unexpected. Their team of certified business advisors provides highly individualized, confidential advising at NO charge. They guide clients on issues that impact their businesses, such as financing, marketing, improving operations, best practices, or bringing new products to market.  Request advising here and add SRPC in the “Referred by” question, and SBDC will respond to you promptly to schedule a time to meet with a Business Advisor.

Pathway to Micro - New Small Business Development Center Program  The Pathway to Micro program offers unemployed or under-employed individuals the opportunity to launch a micro business (1-5 employees) of their own. Participants receive confidential, highly individualized business assistance at no cost. Specialized education offerings for participants will be rolled out this year. Eligibility: Unemployed individuals. Under-employed individuals. People who are working part-time but want full-time employment or those with a job that does not fully use their existing skills, experience and education. To get started, contact Ben Dion, SBDC's Program Coordinator, at 603.862.2200 or ben.dion@unh.edu to be paired with a certified business advisor.

Economic Revitalization Zones Economic Revitalization Zones or ERZ’s are zones created in a city or town to stimulate economic redevelopment, expand the commercial and industrial base, create new jobs, reduce sprawl and increase tax revenues by encouraging economic revitalization. Businesses located within a zone could qualify for business tax credits for projects that improve infrastructure (capital investment) and create new incremental jobs. If you are located in one of these zones and if you are planning any investment in your business and can hire one or more new full-time employee(s), you could qualify to receive credits that would offset your Business Profits Tax and Business Enterprise Tax. For more information on how the program works and how this can benefit your business, please reach out to Bridgett, NH Tax Incentive Program Manager, at Bridgett.beckwith@livefree.nh.gov or 603-271-2342. You can find the application here. The application submission deadline is February 10th, 2022. Refer to the NH Department of Business and Economic Affairs' FAQ sheet for more information.

Is your businesses located in an Opportunity Zone or Economic Revitalization Zone? Visit our Economic Development Map Viewer (arcgis.com) to check whether your business is located in one of these zones and is eligible for the economic benefits that come. What is an Economic Revitalization Zone (ERZ)? ERZ designation is an economic development tool that creates incentives for companies to expand or relocate to an eligible area, known as an ERZ. Projects in an approved zone must create new jobs and expand the economic base. This incentive creates an opportunity for businesses to qualify for tax credits that can be used against the New Hampshire Business Profits Tax and the Business Enterprise Tax, up to a maximum of $40,000 annually for a five-year period. Projects can range from the creation of new facilities to the rehabilitation of existing structures.   Opportunity Zones are designated zones allowed under a federal program that encourage economic growth and investment in low-income areas. This is accomplished by providing federal income tax benefits to taxpayers who invest new capital in businesses located within qualified opportunity zones. There are a total of 5 Opportunity Zones within the SRPC geographical region. To learn more about Opportunity Zones and how to participate in this program, please visit the NH Economy website.

Hearing All Voices IRS Small Business Workshop and Listening Session 2022 IRS is hosting a Zoom meeting for small business organizations and owners on February 17, 2022, especially those that conduct business in languages other than English. This 2-hour event will include presentations from IRS leadership from Examination, Collection and Taxpayer Advocacy covering the top tax issues affecting small business owners regarding income, deductions, employment taxes and recordkeeping. The session will also cover getting ready for the 2022 filing season, tax scams targeting small businesses and how the IRS is reorganizing to better serve small business taxpayers.  The IRS also wants to hear from you! So, this event will include a listening session to hear your concerns, feedback and suggestions. How can we improve your IRS experience as a small business owner? Please join the IRS and sponsoring small business organizations on February 17, 2022 at 1 pm by registering at this link!

Employee Retention Credit Update The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. The Treasury Department and the Internal Revenue Service issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and additional guidance on miscellaneous issues that apply to the employee retention credit in both 2020 and 2021. Notice 2021-49 amplifies prior guidance regarding the employee retention credit. The changes include: making the credit available to eligible employers that pay qualified wages after June 30, 2021, and before January 1, 2022, expanding the definition of eligible employer to include "recovery startup businesses," modifying the definition of qualified wages for "severely financially distressed employers," and providing that the employee retention credit does not apply to qualified wages taken into account as payroll costs in connection with a shuttered venue grant under section 324 of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act, or a restaurant revitalization grant under section 5003 of the ARP. For more information visit IRS's website.

GoodWork Nonprofit Incubator GoodWork is now accepting applications for its Nonprofit Incubator. GoodWork provides customized, strategic support to idea phase, early-stage, and start-up nonprofit organizations. Eligibility: Serve one or more cities or towns in Strafford County or eastern Rockingham County. 501c3 status Be less than three years old and have an annual operating budget under $250,000 Provide services that are non-partisan and non-denominational. A completed Intent to Apply is due by January 31, 2022. Don't hesitate to contact the Leadership Team with any questions.  For more information about eligibility criteria and the application process, please visit GoodWork's website.

Bank of America Charitable Foundation Grant for Economic Mobility Focused on the Needs of Individuals and Families Coronavirus has had a significant impact on all populations and especially disproportionate impact on vulnerable populations who have experienced increased unemployment and higher levels of infection. As we emerge from this crisis, Bank of America Charitable Foundation is focused on health and economic recovery. In response, they are partnering with organizations addressing the economic and social conditions that affect an individual’s health, access to community-based health services, crisis-prevention tied to family stabilization programs, and other poverty related issues. As a result, in 2022, the Bank of America Charitable Foundation announced a request for proposals (RFP) to support Economic Mobility focused on needs of individuals and families (workforce development & education and basic needs). Examples of proposals (list is not exhaustive): Access to healthcare and food Family stabilization Services for the homeless  Workforce Development & Education Youth employment  Alternative pathways for adults  Eligibility: 501(c)(3) status located in NH or other eligible markets Should be aligned with their funding priorities of community development, education and workforce development and critical needs. Amount: varies by market and organization size. As a general guide however, grant amounts in larger markets can range from $5,000 to $50,000 and $2,500 to $25,000 in smaller markets. Deadline: February 18, 2022 Please review this FAQ sheet or visit Bank of America's website to learn more about the grant application process. Should you have any more questions, please email Foundation@bankofamerica.com. To apply for the grant, please click here.

Bangor Savings Bank Grant The Bangor Savings Bank Foundation is committed to improving community life in Maine, Massachusetts, New Hampshire, and Vermont. The Foundation focuses its philanthropic efforts on improving regional and statewide economies, and in addition lends support to the following areas: Education Social and Civic Services Arts and Culture Health and Wellness For all proposals received, they have a preference to support projects and initiatives that: Include a strategy for leveraging other resources and support. Produce cost-effective results which can be measured and evaluated. Provide incentive for the private and public sectors to work together in community problem solving. Encourage coordination with other efforts and do not duplicate programs in the community. Advance innovative and long-term strategies that will address recognized needs. Demonstrate an ability to obtain future funding if it will be needed. Eligibility: 501(c)(3) status proven need for private financial support, and a direct relevance to the Foundation's areas of giving interest. Amount: ranges from $2,000 to $25,000   Deadline: April 1, 2022 For additional information on the Foundation, please call 1.877.Bangor1 (1.877.226.4671) or send an email to foundation@bangor.com To apply for the grant, please click here.

Partners in Rural Development   Please be advised that multiple USDA RD loan & grant programs are now seeking applications under the Strategic Economic and Community Development initiative (SECD).   Read this announcement to see what RD programs are eligible for applications.

Please don't hesitate to e-mail us if you have any questions or need business-related support. We will do our best to address your needs or connect you to the right resource! Sincerely, Natalie Moles Economic Recovery Coordinator 603-994-3500 ext. 113 nmoles@strafford.org Zuzana Duffy Assistant Planner zduffy@strafford.org Strafford Regional Planning Commission 150 Wakefield Street, Suite 12 Rochester, NH 03867 www.strafford.org

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