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Business Advisory Services

One-on one, confidential and free. Business advisors help entrepreneurs develop business plans, pin point and solve problems, locate and apply for capital, brainstorm new strategies in order to compete more effectively in today's economy.

How can we help your business weather difficult times?

If you are worried about the health and well being of your business you are not alone.

One of the very best things you can do is take a good look at the health of your business.

  • Look at your financial ratios and how they stack up against other businesses in your industry.
  • Assess your marketing efforts and consider alternatives.
  • Review your pricing and expenses and make necessary changes.

The DSBDC can help you with this- we call it our Business Health Check.

To get you thinking, download our Survive and Thrive checklist- we will be happy to discuss any of these ideas with you.

Call your nearest DSBDC center or email mdd@udel.edu for more information.

Federal Stimulus Information:

Small Business Administration Programs

We have been getting numerous phone calls on what SBA loanprograms are available to small businesses as a result of the ARRA.

The SBA has set up a page with all the latest info: http://www.sba.gov/recovery/information/index.html

What does the American Recovery and Reinvestment Act (ARRA) mean for Small Business? The following provisions are likely to be of most importance to small businesses.

  • If you lost money. Some small businesses will be able to use monetary losses to their tax advantage. Those with gross receipts at $15 million can use losses to alleviate tax bills for two years prior to the loss and 2 years following the loss.
  • Money for equipment. The stimulus package maintains the increased $250,000 equipment writeoff level through 2009. However, if you already spend more than $800,000 on these types of capital expenditures, the deduction is phased out. For this reason it is geared more toward small business spending.
  • Hiring tax credits. You can receive a $2,400 credit per worker on your taxes providing you hire a worker who falls in a targeted group of disadvantaged individuals. The Work Opportunity Tax Credit allows a 40% tax claim on the first $6,000 in wages paid to such a worker. Two new categories of disadvantaged workers have been added to the new package: veterans and “disconnected youth.”
  • Increased SBA lending. An additional $6 million is allocated to microlending through SBA sponsored non-profit lending organizations. The SBA has also been authorized to temporarily eliminate or reduce fees on their loan guarantee programs, and increases the amount of the guarantee to 90% for qualified loans.
  • Reducing Estimated Tax Payments: Normally, small businesses have to pay 110 percent of their previous year’s taxes in estimated taxes. But with incomes down for many small businesses this requirement is too burdensome – and causing a cash crunch. The Recovery Act allows small businesses to reduce their estimated payments to 90 percent of the previous year’s taxes, helping to boost liquidity and better align estimated taxes with actual taxes in a year of severe economic contraction.
  • Extension of Bonus Depreciation Deductions: Check with your accountant about the possibility of extending bonus depreciation deductions through the end of 2009, which allows businesses to take a larger tax deduction within the first year of a property’s purchase.
  • Incentives for Investors to Put Money in Your Business: the Recovery Act includes a measure that will exclude from taxation 75 percent of the capital gains for investors in small businesses who hold their investments for five years.

State of Delaware Economic Recovery Programs:

An excellent summary of the state's programs http://www.recovery.delaware.gov/ 

A new Program recently announced by Governor Markell, The LIFT Program may help small businesses acquire financing. 

BUSINESS SURVIVAL TIPS

Looking for other ideas on surviving these difficult times? Here are some articles our staff found useful.

  3. Down Economy Business Advice

Training and Educational Programs

The DSBDC conducts numerous workshops and seminars throughout the year and throughout the state. Programs range from classes covering the most basic essentials every business owner must know, to longer in depth course designed for the more complex needs of growing businesses.

Information and Research

Information is the lifeblood of business decision-making. The DSBDC's Information Centers offer computer and internet access, books on a wide variety of topics and a wealth of research and marketing information. Plus help on how to use it.

Procurement Technical Assistance Center of Delaware

Looking for new customers? Delaware's Procurement Technical Assistance Center can help identify and bid on contracts with federal, state and local governments and prime contractors.

For more information on the Procurement Technical Assistance Center of Delaware see www.delawarecontracts.com

 


Updated 5/5/2009 11:58:57 AM

The Delaware SBDC, a unit of the University of Delaware's Office of Economic Innovation and Partnerships (OEIP), is funded in part through a $777,777 cooperative agreement with the U.S. Small Business Administration (SBA). This is matched by an equal amount of non-federal funds, from entities including the State of Delaware. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA or other sponsoring agencies. All programs and services are extended to the public on a nondiscriminatory basis. As equal opportunity/affirmative action employers, the SBA, the University of Delaware, and the State of Delaware are all committed to assuring equal opportunity to all persons. The University of Delaware is an equal opportunity/action employer and Title IX institution. For the University’s complete non-discrimination statement, please visit http://udel.edu/home/legal-notices.