SBA Provided $20 Billion to Small Businesses and Non-Profits Through the Economic Injury Disaster Loan Advance Program

The U.S. Small Business Administration announced the conclusion and success of the Economic Injury Disaster Loan (EIDL) Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding. In order to assist the greatest number of small businesses, the EIDL Advance provided $1,000 per employee up to a maximum of $10,000. Recipients did not have to be approved for a loan to receive the Advance, and the Advance provided an interim but vital source of funds while applicants awaited a decision on their loan application.

“Following the enactment of COVID-19 emergency legislation, the SBA provided nearly six million small businesses employing 30.5 million people with $20 billion through the unprecedented EIDL Advance program,” Administrator Jovita Carranza said. “This program, built from the ground up in less than two weeks, assisted millions of small businesses, including non-profit organizations, sole proprietors and independent contractors, from a wide array of industries and business sectors.”

Having allocated the full $20 billion that was appropriated by Congress, SBA will discontinue making EIDL Advances to new applicants. By law, the SBA is not permitted to issue new EIDL Advances once all program funding has been obligated.

EIDL loan applications will still be processed even though the Advance is no longer available. As a reminder, the loan portion of the EIDL program continues to have funds available at very affordable terms, including a 3.75% interest rate for small businesses and 2.75% for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. Every eligible small business and non-profit is encouraged to apply to get the resources they need.

Learn more about SBA’s disaster assistance

Are you an Active Listener?

“Most of the successful people I’ve known are the ones who do more listening than talking.” Bernard Baruch

To know whether you are an Active Listener is to understand what is Active Listening.

Active listening is when you are talking with someone you pay attention to the conversation and take the time to understand what the person is telling you. Your focus is on what’s being said to you, digest what is being said and if needed ask questions that will give you a better understanding of what you are being told.

Many times we really aren’t listening. While that person is talking we often are formulating an answer before we really understand what the person is trying to convey. By allowing them to finish you have a better idea on what it is that they truly want or need. You also shouldn’t only be listening to the words, but looking at their body language. Really get the feeling of what they are saying.

The last thing you should be doing is simply waiting for the person to finish so that we can do the talking. Waiting to give the sales pitch. This is a clear sign that shows you aren’t listening, or even concerned.

It’s very possible that after listening you can’t help them, and the only thing they get out of the conversation is that you were there for them to talk. Someone to listen to them, listen to their problem. And maybe that is all they needed.

But by listening you have build trust. And people like to do business with people they trust. Trust builds a relationship. Where that relationship goes could be to someplace that ends up benefiting you both.

# # # #

As we network we often invite others to have a 1-on-1, either have coffee, lunch or simply a phone call with a person we just meet. This is the time when we should be actively listening. Spend time getting to know them, and then allow them to know you. Build that relationship and see how it grows.

3 Months In

Last week as the Month of May was ending I was reviewing my goals, successes and even the shortcomings of the month. In all it was a good month.

This morning I realized that I began Eastern Shore Connect three months ago at the end of February. The world was much different. Covid-19 was being talked about, but we were still pretty much going on with our lives as usual.

I was attending live networking events where I announced the creation of Eastern Shore Connect. My goal was to have a place where businesspersons on Maryland’s Eastern Shore could come together to share ideas.

In person Networking events throughout the region was one of those goals. That quickly changed in Mid-March. We were asked to stay at home unless our work outside of the house was essential. In person meetings of just about every type came to a halt.

On the Facebook group shortly after it opened, but before the Stay-in-Place request, I was asked if I would be doing Video Meetings. It really wasn’t in my original plans, but a seed was planted.

All of a sudden that seed began to grow and I began the Weekly Eastern Shore Zoom on Thursday at Noon around the first of April. These have been successful and will continue.

During those first few weeks of Covid-19 Stay-in-Place I passed along business information that I received. I wrote a couple of pieces and posted here. Articles for Networking and Marketing was always in the plan, but it got pushed aside.

Here we are. The first week of June. The associated Facebook group has been doing well. I know that many don’t use facebook, nor social media in general. That’s ok. It was part of the reason I created this site. But after the initial first few week I began to focus more on Facebook and less here. In short I neglected the site.

One of my goals is expand the site. One of those is to post at least one piece of information per week. To make Eastern Shore Connect a site that is a useful place for business on MD Eastern Shore and its surrounds (Delaware, Annapolis etc) to follow.

I am open to ideas, so if you have any please let me know at ESConnect@ShoreToBeFun.com.

Thank You
Steve Atkinson

What do Your Visitors See?

When a visitor lands on your Facebook page, How Long do you think it takes for them to form an opinion of you?

According to Missouri University of Science and Technology, it takes less than two-tenths of a second for a visitor to form that first opinion. And just another 2.6 seconds for that viewer’s eyes to concentrate in a way that reinforces that first impression.

In less than 3 seconds your online visitor has decided whether they are going to click away or stay to look further.

Your primary pages are your Web site Landing Page, your Facebook Business Page and your Linkedin page.

Many times you don’t have much control on your Web site so for now we’ll talk about Facebook and Linkedin. On both of these there are two (2) key elements that you should have.

1) Your profile picture.

On LinkedIn, since this is Your personal page and not the company you’ll want a good quality headshot. On facebook it should be a good quality photo, but the photo depends on how the page is used for your business. You may want to use the company logo, or a team photo. If you are the face of the company then you’ll want that same type of quality headshot that you used on your LinkedIn page. You will want to use a more businesslike headshot on your LinkedIn page, but the one on Facebook can be a bit more casual.

2) Your cover picture

On both Facebook and LinkedIn you’ll want a quality branded picture or a picture with a short defining statement. It should clearly communicate what your service or product and should resonate with your visitors right away.

On Facebook you’ll want to include these as well.

– Call to Action Button

This is the button on the Right side of the page under the cover picture. This is the action you want them to do when leaving your page. It can be “Call now”, “Learn More”, “Contact Us”, “Send message”, “Visit group”. There are others as well.

– Your business description and contact information

Your “About” name will appear just under your profile picture). Make sure that everything is up-to-date and specifies the area you serve.

There are many things you’ll want to make sure you have on your LinkedIn page. Two of the most important are your Headline and Your Services.

Your services are controlled by LinkedIn and may not have your exact services and have to pick a few.

The Headline is one of the fields LinkedIn uses for searches and you will want to be more specific. Example: if you are a photographer that specializes in destination Weddings, you’ll want to not just say Photographer.

Maryland’s Comptroller Urges Businesses To Use TeleFile To Report Zero Taxes Due


Automated 24/7 access will satisfy filing requirements

ANNAPOLIS, MD – Businesses temporarily closed due to COVID-19 are encouraged to take advantage of the Comptroller of Maryland’s Business TeleFile system. This automated system is available 24 hours per day, seven days a week and streamlines the filing of sales and use tax, as well as withholding taxes when no taxes are owed for a filing period.

One phone call, placed at the convenience of the filer, prevents unnecessary delinquent notices and keeps them focused on operations and sales.

“Businesses have been hit hard by this pandemic and they don’t need any undue burden placed upon them,” Comptroller Franchot said. “Business TeleFile is the fastest, easiest way to meet filing requirements, while allowing owners to focus on re-opening their businesses and keep Maryland’s economy going.”

The process is straightforward. Businesses simply need their 8-digit Maryland central registration number when they call 410-260-7225 to file zero tax due employer withholding or sales and use tax reports by telephone.

For more information contact us at taxhelp@marylandtaxes.gov or visit our website:
https://www.marylandtaxes.gov/business/income/filing-information.php

Maryland Department of Commerce Back to Business Site

The Maryland Department of Commerce is sharing guidance and best practices for Maryland’s companies at: open.maryland.gov/backtobusiness.

Leaders across Maryland’s business community have assisted in developing these best practices to help companies across the state as we enter this new era. The Back to Business page provides general and industry-specific best practices, and a Maryland Strong: Back to Business Pledge that we are encouraging all Maryland business owners to print and display.

An Update on What’s Happening – May 15, 2020

I haven’t been posting much on the Web site, however the Facebook Group has been active.

New members are arriving and participating.

Each Thursday at Noon I am hosting a Virtual Networking Event via Zoom. While the attendance has been on the small size, it’s been steady with attendees coming from various parts of the region. This past Thursday we had business leaders from the Western Shore, Delaware and on the Eastern Shore from Chestertown to Salisbury.

To get a notification of the weekly Networking event and others throughout the region, sign-up on the email list. Presently there is only one email a week, and that’s on Monday Afternoon.

Restrictions are easing. Maryland has announced that Phase 1 of the Recovery Plan goes into effect at 5PM, Friday May 15, 2020. I have not heard of any of the Eastern Shore counties are putting on any restriction to that plan, such as the counties on the 95 Corridor. Although I haven’t seen anything from Wicomico County.

Ocean City now is allowing rental property to open, and the beach and boardwalk are open and following the Maryland Plan.

Delaware has not lifted their 14 Day self-quarantine for those entering the State, but the beaches are open to residents.

The govenor of Virgina while lifting restrictions in some areas of the State still has Accomack County as restricted from opening. Chincoteague is still closed for business.

May 15, 2020 – 1pm EDT

6 Things: Being Productive at Home During Covid-19

For over a month now many of us have been working at home due to Covid-19. How are you adjusting? Here are 6 tips that may help get you to the point that you can comfortably work at home. I’m sure most of you are there, especially those who regularity work from home.

1) Keep your Schedule/Create a Schedule.
You had a pretty regular schedule before, why aren’t you keeping it now? Of course things may be different, you may be working at home with your spouse, or have kids that are home doing school work.. You schedule may have been forced to change. Find or create a schedule that works and keep to it, just as you would have been doing.

2) Create a Workspace
Are you now working at home all of the time, instead of a few hours per week? Before you may have been working at your kitchen table. Now you may have to share it. Create a space for you. It may only be in a corner in the spare room, one that you may have to share with your spouse and kids. Hopefully it can be yours, but if not create a work schedule (see Tip 1).

3) Learn New Things
Do you no longer have a commute? Now forced to do video calls? Take that time to catch up on some training that you’ve put off or some new ones.

4)Take Care of Yourself
It’s way too easy to walk to the fridge to get a snack. Now is not the time to develop bad habits. Continue your daily routines and get some exercise.

5) Be Creative
The old saying is when life gives you lemons, make lemonade. That’s one way of being creative in the ways you do things. Working from home is not the same as working in an office, but that doesn’t mean that you can’t do the same things. Just find new and creative ways to do them.

6) Don’t be Alone
We are in a time of Self-isolation with limited physical contact with people. But that doesn’t mean no contact. Have a question you would usually ask a co-worker. Now you can’t go to their work area, but you can pick up the phone. They actually may be glad to hear your voice. The same for clients. Those that you are actively working with and those that you have worked with in the past. Have a conversation with a former client and see how you may be able to help.

Have you been going to networking events, Rotary, Lions, BNI or other Business type Networking events, etc. and are missing them. Contact the leaders and see if it’s possible to do remote video calls.

I know that these are logical tips, but maybe you just needed to see them to change the way you are currently working to one where you can work better.

——-
Note:
There is an Eastern Shore Connect Networking Video Call each Thursday at noon. Our link can be found on the Facebook Page or email for the link

6 Things to Consider: Google My Business

These tips are for those if you are already on Google my Business. If you aren’t the first tip would be GET ON.

1) Be Certain your business is Verified.
Google says, “Verification helps ensure the accuracy of your business information across Google. Verified businesses are twice as likely to be considered reputable by users. Verification also protects you from anyone who might otherwise pose as a representative of your business.”

2) Be Consistent
It is best to have your business name, address and phone number the same that is on your business Web site and other places where it is available to be seen on the Internet. Unfortunately Google My Business doesn’t allow for non-physical addresses, such as PO Boxes.

3) Choose the Correct Category

4) Be certain you have the correct Business Description

5) Is Eveverthing completed?
These would include: Your Business Hours, Product and Services and proper URL since as an Appointment URL, if you have one.

6) Add Photos
Actually you need to think about using photos everywhere, but often one doesn’t think about adding photos to their Google My Business.

Update: Maryland Business Tax Deadlines Extended to July 15, 2020

New due dates align with income tax payment, filing deadlines

ANNAPOLIS, Md. – In recognition of the deep toll that the COVID-19 pandemic is taking on businesses, Comptroller Peter Franchot today announced he is extending business-related tax filing deadlines for a second time. The new extension to July 15th applies to certain business returns with due dates during the months of February, March, April, and May 2020 for businesses filing sales and use tax, withholding tax, and admissions & amusement tax, as well as alcohol, tobacco and motor fuel excise taxes, tire recycling fee and bay restoration fee returns.

The deadline for June payments of the alcohol tax and admissions & amusement tax, which are due on the 10th day of the month, have also been extended to July 15.

Business taxpayers who file and pay by the extended due date will receive a waiver of interest and penalties.

“The coronavirus pandemic has become a public health disaster and an economic catastrophe,” said Comptroller Franchot. “Small businesses, which are the lifeblood of our economy, are hurting. Any measure of relief we can provide to help them keep the lights on will be welcome news.”

The agency will continue to assess the pandemic’s effect on business operations and will determine if further changes are necessary.

The agency has set up a dedicated email address — taxpayerrelief@marylandtaxes.gov — to assist businesses with extension-related questions. Business owners can also contact the Comptroller’s Ombudsman at ombudsman@marylandtaxes.gov.

Comptroller Franchot previously announced the extension of filing and paying individual and corporate income taxes to July 15th.