The SBTDC is a business and technology extension program of the UNC System. With offices at the 16 campuses, counselors provide personalized management counseling and education services that help entrepreneurs make their businesses better, create and retain jobs, and improve the economy of North Carolina. Most of our services are free of charge, all are confidential.

The SBTDC's office at UNC Chapel Hill is affiliated with the UNC Kenan-Flagler Business School and the SBTDC’s office at NCCU is affiliated with the NCCU School of Business.Our offices serve businesses in Alamance, Chatham, Durham, Lee, Orange, and Person counties.

Our staff members that serve midsize businesses:

Neal McTighe

Regional Director

(919) 962-8315

nmctighe@sbtdc.org

Joel Harper

Business Counselor

(919) 962-7708

jharper@sbtdc.org

Owen George

International Business Counselor

(336) 750-8437

ogeorge@sbtdc.org

Joel Guge, MSML

Government Contracting Counselor

(919) 513-0623

jguge@sbtdc.org

Welcome to the Second Edition of The Midsize Minute

Did you catch our inaugural Midsize Minute newsletter last quarter? If not, this quarterly newsletter covers issues that are relevant to businesses with 10 or more employees, what we at the SBTDC call “midsize” businesses. We hope you’ll find the information below useful to your business.

Business Incentives in the Inflation Reduction Act

This past month, President Biden signed into law the Inflation Reduction Act. Inside the law are numerous credits, loans, and grants possibly available for a business like yours. I’d like to take a moment to highlight some of them.

• Tax credit of $7,500 for electric vehicles under 14,000 lbs.
• Tax credit of up to $40,000 for electric vehicles above 14,000 lbs., subject to certain limitations
• Tax credits between $30,000 and $100,000 to build out electric charging stations
• $500,000 of credits against payroll taxes (up from a $250,000 cap prior) via the Refundable Research and Development Tax Credit program
• A forthcoming National Green Bank that will partner with private sector and community lenders to invest in clean energy technologies and energy efficient solutions.

Should you wish to have a look at the Bill itself, please follow this link. As a team of business counselors, we’re learning more about the new law itself, and would be happy to discuss it with you. Just contact us via the information below.

Are You Leveraging Google Cloud or Workspace for Your Business?

Google Workspace is a platform that provides business users access to productivity and collaboration tools to improve work. Formerly called “G Suite,” you’re likely familiar with Workspace’s tools, such as Gmail, Calendar, Meet, Chat, Docs, Sheets, Slides, and Forms. Google Cloud on the other hand you’re probably less likely to have heard about–that’s because Cloud is for the more technologically inclined business owners or staffers.

I recently took a deeper dive in Workspace and Cloud and here are some takeaways, which I hope might add value to your business:

With a free Gmail account you get access to Google storage and with an added fee you can increase the amount of storage on your account. Once inside Workspace, you can create spreadsheets for conducting costing analysis, set up marketing calendars and content, collaborate on written content in real time (no more attachments or “versions”), or put together collaborative presentations for an upcoming sales meeting. Being on the cloud, all you have to do is log into your Google account and voila, your business is at your fingertips.

Google Cloud on the other hand is a developer platform that provides access and tools to build applications, software, and data analytics tools. Their products, which span a multitude of industries, can be explored at this link. Google is hosting a virtual conference called Next ‘22. If you are interested in learning more about Cloud, you can visit this site and also register for the event. Certainly Cloud can feel overwhelming, and perhaps you don’t know where to start. Don’t worry–just begin the learning process, take your time, and perhaps you’ll surprise yourself.

Client Success: 

Time Value Accounting & Business Services LLC

Michelle Campbell came to the SBTDC back in April 2021 looking for assistance for her business, Time Value Accounting & Business Services LLC. Michelle’s credentials were clearly at the top in the industry, holding a CPA license and being a Certified Tax Coach, a Certified Management Accountant, and Certified in Strategy and Analysis, all backed by a Masters in Finance degree.

Located in Orange County, Michelle's accounting firm had the skills, but what she needed was improved marketing strategies. Michelle was connected with one of our business counselors and she worked over numerous months on marketing strategies that improved outreach, communication, and targeting to identify not more clients, but the right clients for her business, which is prepared to handle more complicated part-time CFO, business advisory, and outsourced accounting solutions for monthly clients. Additional counselors with expertise in marketing assisted as well and through this a strong relationship between client and the SBTDC was formed. This led to Michelle assuming a seat on the Regional Advisory Board for our regional SBTDC office. In closing, oftentimes businesses run to marketing agencies for marketing advice rather than advisors to develop marketing plans or strategies to figure out first where your customer resides and how to find them there. One size doesn't fit all in marketing. Don't let a lighter wallet teach you that lesson.

Upcoming Training & Events

LAST CHANCE!

"Creating a Marketing Plan for Your Venture"

Wednesday, September 14, 2022

Our Chapel Hill office of the SBTDC has partnered with UNC-Chapel Hill's Innovate Carolina to put on an educational event at the new 79° West Innovation Hub located at MOSAIC at Chatham Park (367 Freedom Parkway, Suite 130, Pittsboro, NC 27312). Taught by SBTDC.

• Identifying and finding your target audience
• Creating a strategy
• Using analytics to plan and measure success

Registration is required.

Connect with Us

Whether you are surviving, sustaining, or scaling in this new economy, don't go it alone. The SBTDC is here to help. Too many businesses with 10 or more employees end up seeking no outside counsel apart from their lawyers and accountants.



Please let me know directly at uncch@sbtdc.org or (919) 962-8315 if you'd like to set up time with an expert business counselor. Additionally, let us know if there's any content you would enjoy seeing in these "Midsize Minute" newsletters.

Cheers to your success as we close out 2022.

Neal McTighe, PhD

Regional Center Director

SBTDC at UNC Chapel Hill and NC Central University