• News and workshops from the SBDC

    News and workshops from the SBDC

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    Reflections on a Challenging Year
    "The ultimate measure of an individual is not where he stands in the moments of comfort, but where he stands at times of challenge."
    - Dr. Martin Luther King Jr.
    As we reflect on the year, it is easy to get caught up in thoughts of the health crisis. As business advisors, it is our job to help provide guidance despite the uncertainty that the pandemic has caused, to help business owners survive and reclaim their financial balance.
    Among the many heavy conversations we have had, we also hear something more. We hear resolve. We hear courage, resilience, creativity, and determination. Read more...
    💸 24 Weeks vs. 8 Weeks: The PPP Dilemma 💸
    Nothing is as confusing as when a newly rolled out program experiences the growing pains of change. Many business owners had just become comfortable by the 8-week PPP Covered Period when suddenly they were confronted with an unexpected twist - 24 weeks? So, which time period should you use? Read more...
    👩🎓 Welcome to Our Winter Interns! 👨🎓
    Maine SBDC is excited to showcase our Winter interns:
    • Keenan Hendricks (left) is a returning SBDC intern. A student at the University of Southern Maine, Keenan will help with digital marketing projects and content creation.
    • Nargiz Alizada (middle) and Jared Entwistle (right) are MBA students at the University of Maine. They will help with various client and internal projects including those related to financial analysis and market research.
    ❄️ 🎵 Let is Snow, Let it Snow, Let it Snow 🎵 ❄️
    Powersports Business in Western Maine Transitions Ownership
    It's snowmobile season and Dan Daigle is ready to help!
    Dan Daigle dreamed of owning his own powersports dealership. That’s why he purchased Mountain Side Powersports in Wilton. Located near some of the best trails in Maine, this family-owned business sells and services snowmobiles, ATV’s, and other power equipment. After being denied financing, Dan reached out to the SBDC for help. Read more...
    How is your business really doing?
    How are you REALLY doing?
    The pandemic has likely left you with little time to stop and review the current state of your business. Now is the time to assess the impact the pandemic has had on your business.
    Create a plan to sustain your business with our step-by-step assessment tools. Access the tools here.
    What you should know about the Maine SBDC?
    COVID Relief Grants & Loans
    We've compiled a regularly updated list of grants and loans to help you and your small business stay afloat as you continue to cope with the impacts of Coronavirus. Upcoming grant deadlines include:
    • Agriculture & Food Processing Infrastructure Grant Program
    • Farmer E-Commerce Grant Program
    More details on these programs and others here
    💻 Upcoming Webinars 💻
    Buying a Business - What you need to know
    January 6 • 2 pm • REGISTER
    The seminar will explain considerations you should make prior to consulting with an attorney regarding personal and business bankruptcy options for your business. Topics will include: Understanding the different chapters of bankruptcy; Understanding when restructuring feasible; Negotiation in bankruptcy; Life after bankruptcy; Personal debt settlement vs. bankruptcy and the implications that may follow; and exceptions for personal bankruptcy.
    Quickbooks: Which one should you buy?
    January 7, 2020 • 10 am • REGISTER
    Intuit offers a variety of products, making it tough to figure out which one is the best fit for you and your business. In this webinar, we will look at the major differences between the online subscriptions and the desktop software versions, along with the new hybrid "plus" subscription. We'll compare costs and features.
    Ask an Advisor: PPP Forgiveness
    January 13, 2020 • 11 am • REGISTER
    In this webinar, Maine SBDC business advisors will answer your questions related to the Paycheck Protection Program Forgiveness process. They'll talk about the different applications, forgiveness rules as well as tips for maximizing loan forgiveness.
    Turning Your Side Hustle into a Small Business
    January 19, 2020 • 1 pm • REGISTER
    Starting a business takes a lot of passion, which is why so many businesses are built around something in the business owner's world that brings them joy. But there is a big difference between a hobby and a hustle. In this session, we'll walk you through everything you need to know to get started turning your side hustle into a small business.
    Understanding the Chart of Accounts & Financial Reports in Quickbooks
    January 21, 2020 • 10 am • REGISTER
    Does the balance sheet baffle you? Are you confused about why money in and out does not always match your income statement? In this webinar, we will provide a basic overview of the three major financial reports and why you should use them. We'll discuss how these reports tie to your Chart of Accounts in Quickbooks, why it's important, and when to ask your accountant for help.
    Food & Beverage Companies - This program is for you!
    The CEI Tastemakers Initiative helps established food and beverage companies expand and improve production capacity, create jobs, and meet targeted growth goals by offering funding for tailored consulting and access to financial resources and investor networking opportunities. Apply to join the 2021 Tastemaker cohort by December 21, 2020. More details here.
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    Need help? Connect with a business advisor here.
    Maine SBDC | 800-679-7232 | mainesbdc@maine.edu | www.mainesbdc.org
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