Tax Day Postponed

The IRS, at the direction of the President, has moved Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties. For more information, visit the IRS Coronavirus site and their FAQs.

Families First Coronavirus Response Act

The Families First Coronavirus Response Act that the president just signed into law includes two provisions to help ensure that employees who are sick or need to care for a loved one can get the time off that they need during this public health crisis. Understanding that providing additional leave to employees will be difficult for many businesses, especially small businesses, this bill provides necessary relief to help businesses, non-profits, and self-employed individuals cover the costs of paid leave to their employees during the COVID-19 pandemic. The bill provides employers with fully refundable tax credits to help cover the costs of paying 2 weeks of sick leave wages, and up to 10 addi

NH Working - WorkShare Program

As employers navigate new challenges created by COVID-19, one way to help maintain their trained workforce is the State's WorkShare program. Employers can temporarily reduce their workforce in a particular unit, shift or company 10% - 50% and avert a layoff. They can then recall the employees when business increases. As employees are retained - morale, productivity and flexibility in the workplace are maintained. Affected employees have a softer landing as their hours are reduced rather than eliminated, and they keep their health insurance and can collect wages for hours worked plus unemployment compensation benefits for the reduced hours. WorkShare plans may be submitted by any New Hampshir

Unemployment Benefit Relief

Per Emergency Executive Order #5, individuals who are unable to work or who have reduced hours due to the COVID-19 pandemic will have immediate access to unemployment benefits. Anyone in the following situations will now be eligible for state unemployment: If your employer temporarily closes due to COVID-19; Individuals that need to self-quarantine or are directed to quarantine at the instruction of a health care provider, employer or government official; Individuals that need to care for a family member that has COVID-19 or is under quarantine; Individuals that need to care for a dependent because of school closures, child care facility closures or other similar types of care programs; Self

SBA Economic Injury Disaster Loan Program

U.S. Small Business Administration (SBA) low-interest federal disaster loans can provide working capital to New Hampshire small businesses and private, non-profit organizations suffering substantial economic injury as a result of COVID-19. SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance to help overcome the temporary loss of revenue. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses and 2.75% for non-profits. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Click HERE to

Business and Economic Affairs COVID-19 Website

The NH Department of Business and Economic Affairs launched a new website to support the business community . The site has information on business resources, financial assistance, unemployment benefits, health guidelines and recent updates on COVID-19. Click HERE to visit the new site.

Best Practices for Businesses Affected by COVID-19

As in any economic downturn, the recognition and the speed of adaptation is key to liquidity and to sustaining businesses. While there is no one solution to fit all, there are working case scenarios that can come as good examples of that adaptation process and measurable success. To help you address critical business operations, NH SBDC’s advisors have prepared Tips and Recommendations to help you think through what you should focus on now and what to plan for down the road. Operational Assistance Tips 7 Ps of Marketing and Actionable Scenarios Around Them Cash Flow Management During a Downturn Using Finance and Accounting to Make Sense of Your Business Supply Chain Management During a Do

Family First Coronavirus Response Act

The Family First Coronavirus Response Act was signed into law on Wednesday and it may impact some small businesses. The act applies to all small private sector employers with less than 500 employees that don’t obtain an exemption from the Department of Labor, which may exempt certain employers with fewer than 50 employees from providing paid sick leave or family leave if the requirements would jeopardize the viability of the employer. The law is a short-term law and the provisions that are most likely to impact borrowers take effect on April 2, 2020 and expire on December 31, 2020. These provisions are as follows: Emergency sick leave: Employers will need to provide paid sick leave to all

City of Laconia Seeking Qualified Management Entity for Colonial Theatre in Downtown Laconia

The City of Laconia is presenting a rare opportunity for a qualified management entity to join a strategic partnership to operate and manage the historic Colonial Theatre in downtown Laconia. This opportunity commences with the issuance of this Request for Information (RFI) through which qualified management entities are invited to present their qualifications, management plans, financial backgrounds, and most importantly their vision as the exclusive manager of the Colonial Theatre.

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Belknap Economic Development Council

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