
2010 Winner, Better Business Bureau of North Alabama Torch Award for Marketplace Ethics 2010 Alabama Women's Business Center of Excellence 2007 Non-Profit of the Year
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| Women's Business Center of North Alabama
March 2011 Newsletter
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| Sponsor this block and reach thousands of WBCNA Contacts with our affordable pricing. Email info@wbcna.org |
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March Lunch and Learn
"Cyber Security: Protecting Your Bottom Line"
Sponsored by:
Friday, March 18, 2011
11:30 a.m. - 1:30 p.m.
(last half hour reserved for networking)
Speakers: The Federal Bureau of Investigation (FBI)
The WBCNA has partnered with the Chamber of Commerce of Huntsville-Madison County and the Advanced Defense Technology Cluster (ADTC) Initiative to host March's Lunch & Learn which is entitled, "Cyber Security: Protecting Your Bottom Line." Our speakers are from the Federal Bureau of Investigation.
In today's global economy, being connected to the rest of the world by the web is an absolute must. However, while maximizing connectivity to increase your bottom line, you must also maximize cyber security in order to protect your bottom line. The FBI will offer an overview about cyber security and the threats American companies are facing today. WBCNA, in partnership with the ADTC Initiative and the Huntsville-Madison County Chamber of Commerce, is working with the FBI to prepare and educate all businesses, regardless of size or industry, about the ins and outs of cyber security and what that really means.
The Lunch & Learn will be held at the Chamber of Commerce Auditorium at 225 Church Street in downtown Huntsville. A map with directions can be found on the website.
Reservations are required and can be made online via our calendar at
www.wbcna.org. The cost is $20 for WBCNA clients and Huntsville-Madison County Chamber of Commerce members. Please call 256-535-2038 for the discount code prior to registering online. Cost for all others is $25. Credit card payment is available at the time of online registration. Cash, check (payable to WBCNA) and debit/Visa/Mastercard payments are accepted at the door.
Registration/Cancellation Policy: Lunch registrations and/or cancellations must be received no later than 5 p.m. on Wednesday before the Lunch and Learn. If you are unable to attend and do not cancel by the deadline, you will be billed. |
WBCNA Volunteer Spotlight: Nafije Prishtina Nafije Prishtina is the owner and president of Tex Electronics-DAS, LLC, which provides engineering services in Software and Hardware development to the aerospace and defense industry. Eleven years ago Nafije moved to the US from Kosovo, starting out from scratch in learning a new language, meeting new people and learning a new culture. Nafije's goal has always been to own her own business, which is what inspired her to pursue a college degree. In 2007 she graduated from Davenport University with a BBA degree with a concentration in Human Resources. During her early professional career, most of her experience was in retail and health services industries. She notes that, "When I met my husband Ben, my personal and professional dreams came true; because in addition of Ben being a wonderful husband and father, he is also business savvy, and he gave me a head start learning about the defense and aerospace business." Nafije places high priority on continuously learning and growing personally and professionally. She is currently immersed in efforts to learn about doing business with the Government. Nafije has a three year old daughter who is, "the light of my life," and their family is expecting a second child. She loves living in Huntsville and enjoys cooking, walking, swimming, traveling and spending time with family and friends. "I am very thankful for the WBCNA; I found this place to be such a great resource. The staff here is super friendly; they always have answers and are ready to help out. They have been supporting me with my business from the first day I visited their office -through WBCNA I have meet so many wonderful people-I will forever be grateful and supportive of this organization!" |
| Free IRS Webinar: Business Taxes for the Self-Employed- The Basics
On Tuesday, March 29, 2011, the Internal Revenue Service is presenting a FREE webinar for tax professionals, small businesses, self-employed persons and independent contractors: Business Taxes for the Self-Employed: The Basics. The webinar will cover: - Reporting profit or loss from a business or profession
- Self-employment tax and estimated tax payments
- Schedule C and C-EZ
- Deducting business expenses
- Husband and wife businesses
- Recordkeeping
The webinar starts at 1 p.m. Central. Register and attend by clicking here.
To keep up with the latest IRS news and announcements for small businesses, subscribe to e-News for Small Businesses, a bi-weekly, electronic newsletter that alerts small business owners to what's new, hot and important for them to know. It's quick to read, easy to subscribe - and it's FREE. On IRS.gov, click "Subscribe Now" at the bottom of the page and enter your e-mail address. |
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SBA Launches Temporary Program for Commercial Real Estate Lending
Agency will begin accepting refinancing applications Feb. 28 for small businesses facing maturing mortgages, balloon payments
Small businesses facing maturity of commercial mortgages or balloon payments before Dec. 31, 2012, may be able to refinance their mortgage debt with a 504 loan from the U.S. Small Business Administration under a new, temporary program announced today.
The new refinancing loan is structured like SBA's traditional 504, with borrowers committing at least 10 percent equity and working with third-party lending institutions and SBA-approved Certified Development Companies in the standard 50 percent/40 percent split. A key feature of the new program is that it does not require an expansion of the business in order to qualify. SBA will begin accepting refinancing applications on Feb. 28. The program, authorized under the Small Business Jobs Act, will be in effect through Sept. 27, 2012. "The economic downturn of recent years and the declining value of real estate have had a significant, negative impact on many small businesses with mortgages maturing within the next few years," said SBA Administrator Karen Mills. "As a result, even small businesses that are performing well and making their payments on time could face foreclosure because of the difficulties they face in refinancing and restructuring their mortgage debt. This temporary program is another tool SBA can provide to help these small businesses remain viable and protect jobs." For more information about the program, and to read the entire SBA release, click here. Source: David Hall, SBA Public Information Officer |
New Veteran's Business Certifications
To further advocate for Veterans, Veteran's Affairs (VA) announced that companies identifying themselves as small businesses or Veteran-owned businesses to gain priority for some Department of Veterans Affairs contracts must now provide documentation verifying their status within 90 days of receiving notice from the agency.
"VA is committed to doing business with as well as supporting and protecting Veteran-owned small businesses," said Secretary of Veterans Affairs Eric K. Shinseki. "Although the verification process may initially be a challenge to some small business owners and to VA, it's a necessary step to eliminate misrepresentation by firms trying to receive contracts that should go to service-disabled and other Veteran-owned vendors."
The Veterans Benefits Act of 2010, signed by the President Oct. 13, expanded VA's requirement to verify the status of businesses claiming Veterans preference to compete for VA contracts by being listed in VA's VetBiz.gov "Vendor Information Pages" (VIP) database. Companies will have to submit an application to substantiate their status as owned and controlled by Veterans, service-disabled Veterans or eligible surviving spouses. Only companies that submit the information will be listed in the VIP database.
The law requires VA to notify currently listed businesses that within 90 days of the Veteran-owned business receiving the notice they must submit certain business documents. VA sent notices to more than 13,000 listed businesses by email and mail Dec. 10-11. Other companies, wanting to be listed in the database and considered for future set-aside VA contracts, also have to submit application packages. VA will work on those verifications after the existing listings are verified.
The department plans to post additional information at www.VetBiz.gov in early February informing applicants how to submit their documents electronically. In the meantime, VA's notice to currently listed businesses encourages them to submit their information on CD-ROM. Priority processing will be given to those Veteran-owned firms that are in line to receive a set-aside contract from VA, those that already conduct business with VA, and those that have already filed an application for verification.
For more information, visit the Office of Small and Disadvantaged Business Utilization's website by clicking here.
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| White House Launches "Startup America" Initiative
Administration and Private Sector Campaigns will promote entrepreneurship and innovation
In his State of the Union Address, President Obama laid out a plan for winning the future by out-innovating, out-educating, and out-building the rest of the world. This week, the White House will hold a number of events to focus on innovation, and how we can create the jobs and industries of the future by investing in the creativity and imagination of the American people. In February, White House launched "Startup America," a national campaign to help America achieve these goals by promoting high-growth entrepreneurship across the country with new initiatives to help encourage private sector investment in job-creating startups and small firms, accelerate research, and address barriers to success for entrepreneurs and small businesses. President Obama said, "Entrepreneurs embody the promise of America: the belief that if you have a good idea and are willing to work hard and see it through, you can succeed in this country. And in fulfilling this promise, entrepreneurs also play a critical role in expanding our economy and creating jobs. That's why we're launching Startup America, a national campaign to help win the future by knocking down barriers in the path of men and women in every corner of this country hoping to take a chance, follow a dream, and start a business." President Obama continued, "Startup America also represents a historic partnership with business leaders, investors, universities, foundations, and non-profits, and we're urging others to join them in this effort. For entrepreneurs speak to what's best about America, and in their drive and innovative spirit -- in their willingness to take a risk on a bold idea -- we can see the future. We can see how America will compete and win in the 21st century global economy." As a part of the White House's "Startup America" initiative, the administration will announce new initiatives and incentives to encourage the private sector to invest in new startups: - The President's new budget will propose making permanent the elimination of capital gains taxes on key investments in small businesses, which was passed as a temporary provision in 2010 as part of the Small Business Jobs Act the President signed in September. The budget will also propose expanding the New Markets Tax Credit to encourage private sector investment in startups and small businesses operating in lower-income communities.
- The Small Business Administration (SBA) will direct $2 billion in existing guarantee authority over the next 5 years to match private sector investment funding for startups and small firms in underserved communities, as well as seed and early-stage investing in firms with high growth potential, through its Small Business Investment Company (SBIC) program.
- Together SBA and the Department of Energy will boost high-quality mentorship for cleantech startups, while the Veterans Administration is launching new training programs for Veterans who want to start new businesses.
- The Department of Commerce will expand the i6 Challenge to help foster the commercialization of clean technologies, and are finalizing a plan to allow entrepreneurs to request faster review of their patents, an initiative that should lower patent pendency times overall and speed the deployment of new ideas to the marketplace.
Some examples of the private sector and philanthropic commitments that will be announced alongside the launch of the "Startup America Partnership," the private sector initiative, are below: - Expand startup accelerators that provide seed funding and intensive mentorship, allowing the Astia network to serve twice as many women entrepreneurs, the MassChallenge competition to extend its national reach from Boston's Innovation District, and the new TechStars Network to boost the success rate of 6,000 entrepreneurs in 15 regions, including Miami, Seattle, Pittsburgh, Dallas, Cincinnati, Salt Lake City, Nashville, and New Orleans.
- Scale up programs that prepare K-12 and college students to start their own companies, such as the Network for Teaching Entrepreneurship, Blackstone LaunchPad, Junior Achievement, National Collegiate Inventors and Innovators Alliance, the Virtual Incubation Network for America's Community Colleges, and the Artists & Instigators Practicum.
- Increase corporate investment and support for startups from companies such as Intel, HP, IBM, Facebook, and others.
- Foster innovation and entrepreneurship in states and regions such as Ohio, Indiana, Michigan, Minnesota, New York, and New Orleans, building on the success of models such as JumpStart America and the Deshpande Foundation's innovation centers.
A full fact sheet is available by clicking here. Source: The White House, Office of the Press Secretary
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SBA Lender Activity Report 
The Alabama District Office of the SBA issued a lender activity report for the period of October 1, 2010-January 31, 2011
To view the entire report, click here.
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2011 Home-Based Business Expo (formerly Direct Selling Expo) Calling All Volunteers!
The WBCNA is planning on hosting another Direct Selling Expo in September 2011, but we're calling it the "Home-Based Business Expo" so it will resonate with the general public. Anita Eno, Team National, has agreed to chair the event. As a reminder, the mission of the expo is to connect companies who have business opportunities (like Mary Kay, Silpada, and Amway) with individuals who are looking for them. This is a great venue for those in the direct selling industry who are trying to build their organizations and promote their products or services. Many of clients, and millions of Americans, are already in the industry or looking into it. We are looking for volunteers who would like to help us with this event. If you have any interest, please send us an email at info@wbcna.org.
What is Direct Selling? Direct selling is the sale of a consumer product or service, person-to-person, away from a fixed retail location, marketed through independent sales representatives who are sometimes also referred to as consultants, distributors or other titles.
Just about any product or service can be purchased through direct selling somewhere in the world. Many people think of cosmetics, wellness products and home décor as products that are often sold through direct sales, but add to that countless other product categories including kitchen products, jewelry, clothing, organic gardening supplies, spa products, scrapbooking supplies, rubber stamps and much, much more. For more information, check out the Direct Selling Association (DSA) website at www.dsa.org. For direct selling general FAQs, click here. |
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WBCNA Services More About Us About our Training
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UPCOMING WBCNA EVENTS AND WORKSHOPS
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12 Steps to Doing Business with the Government- March 10
QuickBites with QuickBooks- sponsored by Sam's Club of South Huntsville- March 15
MORGAN COUNTY
Loan Clinic- March 1
Linked In & Twitter Bootcamp- March 10
Help! I Need a Marketing Plan- March 24
---------------------------------------- NETWORKING OPPORTUNITIES AND WORKSHOPS ACROSS NORTH ALABAMA
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Huntsville-Madison County Chamber of Commerce New Member Luncheon- March 15
Business After Hours- March 24
Breakfast & Biz- March 30
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GOVERNMENT PROCUREMENT ASSISTANCE CENTER (GPAC)
GPAC offers services to the growing number of small businesses that want to do business with the government.
Services offered include:
-One-on-one individualized coaching
- CCR registration assistance
- NAICS Codes identification
- Online training
- Certifications (8a, HUBZone, MBE, WBE, DBE)
- Networking opportunities and business matchmaking
- Assistance with Capabilities Statement development and review
- Identification of Small Business Specialists (government and prime)
- Website resources for small businesses
- Identification of business opportunities and bid match assistance
Training is a major component of the GPAC.
If you would like more information on the GPAC and doing business with the government, call (256) 535-2038. |
-------------------------------------- WHO IS A WBCNA CLIENT?
Our clients are women and men in North Alabama who want to start or grow a business.
Our clients are our most important stakeholders.
Our clients are not dependent on us; we are dependent on them.
Our clients are not an interruption of our work; they are the reason for it.
We are not doing our clients a favor by serving them; they are doing us a favor by giving us an opportunity to serve them.
Adapted from the words of Mahatma Gandhi
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Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact Stephanie Sellers at WBCNA, 225 Church Street, Huntsville, Alabama 35801, or by phone at 256-535-2038 or email info@wbcna.org
The BBB is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Businesses that earn BBB accreditation contractually agree and adhere to the organizations high standards of ethical business behavior.The BBB provides objective advice, free business BBB Reliability Reports, charity BBB"Wise Giving" Reports, and educational information on topics affecting marketplace trust. To further promote trust,the BBB also offers complaint and dispute resolution support for consumers and businesses when there is difference in viewpoints.
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FREE Business Plan Review from WBCNA!
The WBCNA Business Plan Review Committee is comprised of bankers, entrepreneurs, lenders, accountants, and others who can review your business plan and offer suggestions on how to make it stronger. The need for business planning and a business plan for a new venture cannot be overemphasized. It forces entrepreneurs to consider every facet of the business and places decisions on paper; where they can be evaluated and considered before getting started. Writing a Business Plan can be a time-consuming task. Software programs or instruction manuals can assist you with preparing your plan, but it is still important to polish and perfect the document before submitting it to investors or lenders. The best way to refine a Business Plan is to have it reviewed by other business professionals who are accustomed to seeing and reviewing Business Plans. WBCNA's Business Plan Review Committee will help you answer these important questions: -
Is your business plan complete or are there missing components?
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Have you thought through everything?
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Is marketing sufficiently addressed?
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Is the format readable and free of typographical and grammatical errors?
To learn how WBCNA can assist you with Business Plan review, please call 256-535-2038 or email info@wbcna.org.
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WBCNA Needs You to Get Involved!
The WBCNA is currently overwhelmed with demand for our services (which is a good thing). We welcome your time and support as a WBCNA volunteer. Here's just a few ways to get involved: - Administrative Support
- Business Plan Review Committee
- FastTrac Business Coach
For every two hours of volunteer time, we will provide a $25 gift certificate to use toward WBCNA workshops (one per workshop; excludes Lunch and Learn & FastTrac). Call Stephanie at (256) 535-2038 if you are interested and want to know more about how YOU can make a difference!
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Easy Ways to Get Free Press for your Business
Share Your WBCNA Testimonial
Have you received WBCNA counseling that has been helpful to you? Have you attended a WBCNA workshop that you found beneficial? If your answer is yes to either of these questions, WBCNA wants to showcase you on our home page. Client photos and testimonials are rotated continuously at the top of the WBCNA home page. Just send us a photo and short testimonial and we'll add it to our rotation. Tell Your Story to the Local Media When is the last time you submitted a Press Release to the local media? Did you know you can get free press when something "newsworthy" happens with your business? Hiring new employees and getting a new contract awarded are just two examples of great news to share. If you don't know how to write a Press Release, vist the Resources page on our website. Under the "How To" section, you will find "How to Write a Press Release." If you need help, ask WBCNA Public Relations Specialist Leah Gradl for assistance. Her email is Leah.Gradl@wbcna.org.
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WBCNA's Talk Radio Show for Entrepreneurs
Every Tuesday on Your Morning Drive
8:00 a.m. - 9:00 a.m.
WTKI (1450 AM) Huntsville and WEKI (1490 AM) Decatur have returned to the air with a business-slanted format they call "Talk Radio for Real Life." "Talk Radio for Entrepreneurs," hosted by Marianne and Darin Windham, is a weekly hour-long program focusing on entrepreneurs who share their best practices and lessons learned with listeners. If you would like to come on the air to talk about your business, the cost is ONLY $100. Please contact the WBCNA at 256-535-2038.
 
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Women in Defense (WID) Breakfast Meeting March 3, 2011
WID and NDIA Present: Dr. Myra S. Gray, Deputy G-3/5, Strategy and Concepts (G5) HQ, Army Materiel Command (AMC) Thursday, March 3, 2011 7:30 a.m. - 9:00 a.m. Huntsville Marriott, Huntsville Alabama Dr. Myra Gray was selected to the Senior Executive Service in July 2007 and on October 24, 2010 she became the Deputy G-3/5 for Strategy and Concepts (G-5). She is responsible for strategic planning; concept development and analysis; force design and integration; and life cycle management and technology support and integration for nearly 60,000 military, government civilian, and contractor personnel in support of the Command's mission to provide sustainment support of warfighters and military materiel worldwide.
Cost to Attend: Individual, $23 Corporate Table (10), $250
Registration: Please click here to register. Payment may be made by check or credit card (on-line). Checks are to be made payable to WID-TVC. Reservations may be phoned in and held with a credit card, with payment by check on the day of the luncheon. Please call (256)562-2182 or email patricia.popour@asi-hsv.com with questions concerning registration for this event. |
Cyber Security Breakfast
Presented by the Huntsville-Madison County Chamber of Commerce and Lockheed Martin Tuesday, March 8, 2011 7:30 a.m. - 9:30 a.m. Huntsville Marriott, Huntsville Alabama
Cyber Security is not an isolated concern; it affects everyone and everything we do. Embedded in our daily lives, your security deserves attention and increasing your knowledge will help us all Live Connected in our quest for safety. At this important event, we will hold a panel discussion with government, academia and industry experts where they will share their views on the issues and challenges that are facing not only Huntsville, but the nation as well. Our panel of experts includes:
- Jess Granone - Senior Consultant, Granone Consulting LLC
- Dr. Rodney Robertson - Executive Director Auburn University Huntsville Research Center,
- Larry Burger - Director Space and Missile Defense, SMDC - Future Warfare Center
- Debra G. Wymer - Director, Test and Warfighter Solutions Center Acting Director, Technology Center USASMDC/ARSTRAT
- Yadu Zambre - Senior Fellow - Lockheed Martin
There is no charge to attend this event. Register online via the Chamber's website, by clicking here.
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Rescheduled! BID Designs Empowering Business Conference "Tomorrow Never Happens Twice" In Partnership with WBCNA March 8-9, 2011 The Ledges in Huntsville, AL www.empoweringbusinessconference.com
The BID Designs Empowering Business Conference (EBC) is a unique business development training conference for federal contractors of all sizes. This compelling training conference provides proposal, strategy and capture, and specialized business development topics of interest to all federal contractors who are working to be more effective and efficient in their processes. Over the 2 day period, attendees will gain expert insight into the topics of their choice and will leave with a powerful knowledge set designed to help them apply new ideas, innovations, and efficiencies. Plus, all attendees are invited to a special roundtable open discussion on the final day of the training. In addition, all speakers and keynotes are industry professionals and local community leaders who know, work within, and understand our community and issues we face. This year's theme, "Tomorrow Never Happens Twice" sets the stage for common themes throughout all of our sessions. Meaning, in federal contracting, we have little time to miss key opportunities. Our conference will provide you with key knowledge points to help you better focus and achieve your vision. Who Should Attend: Any federal contractor involved in business development looking for more information, insight, and realistic principles needed to succeed. Perfect for anyone in your company that participates in business development or marketing activities from junior to executive.
Pricing: February 1st-March 4th Single: $675 Group: $575* WBCNA Client: 50% discount on individual registration *5 or more attendees from same organization. To read more about BID Designs, visit their website at www.bid-designs.com.
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AFCEA, NMIA, AFA, NDIA Luncheon, March 10, 2011
Thursday, March 10, 2011 11:00 a.m., Von Braun Center Huntsville, Alabama
The Armed Forces Communications and Electronics Association (AFCEA), the National Military Intelligence Association (NMIA), the Air Force Association (AFA), and the Tennessee Valley Chapter of NDIA have joined together to bring Lt. General David Deptula, USAF (Retired) to Huntsville to discuss the current and future challenges in Joint ISR (Intelligence, Surveillance, and Reconnaissance). Lt. General Deptula was the first Deputy Chief of Staff for Intelligence, Surveillance, and Reconnaissance at Headquarters US Air Force. He brings the Warfighter's perspective to this hot topic.
The luncheon will be held at Von Braun Center North Hall on Thursday, March 10, 2011. Corporate tables seating 8 are $300.00, and individual seating is available for $30.00. Please consider attending this very special luncheon. In addition to receiving high level insight into this crucial area, you will have the opportunity to network with defense related professionals. The doors will open at 11:00a.m. and lunch will be served at 11:30a.m. Register for this event by clicking here.
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INPUT: North Alabama Government Contracting Outlook
Wednesday, March 23, 2011 7:00 a.m. - 10:00 a.m. The Westin Huntsville With nearly 5,000 federal jobs joining to the already 30,000 in Alabama, Huntsville is becoming the new Federal City for top agencies. Join INPUT and Deltek for a federal regional breakfast meeting to learn how these agencies are handling their operations in the region. Topics on the agenda include: - Upcoming technology opportunities and status updates within Huntsville, Alabama
- Challenges and opportunities facing the region
- Emerging technology initiatives in Huntsville
- Industry survey of business development operations, solutions and tools
Featured Speakers: - Colonel Gerald Daniels, Chief Information Officer, Army Space and Missile Defense Command
- Jonathan Pettus,Director of the Office of the Chief Information Officer, National Aeronautics and Space Administration (NASA) Marshall Space Flight Center
- Lieutenant Colonel David Bailey, Deputy Commander, U.S. Army Engineering and Support Center, Huntsville
Registration Fees: INPUT Member: $65 Deltek Customer: $65 Non-Member: $95 Walk-In: $105 Government: Free with a valid Military or Government ID Click here to register for this event.
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13th Annual AUSA Tactical Missiles Conference
"Improving Affordability & Interoperability" Conference April 26, 2011, the Von Braun Civic Center East Hall Huntsville, Alabama The Annual AUSA Tactical Missiles Conference provides an open forum for the presentation of current and future Army tactical missile programs in a collaborative government and industry environment. The forum provides senior government and industry program managers and their staffs with many opportunities to meet and interact with their counterparts. In addition, the forum will allow industry leaders an opportunity to assess their IRAD programs in light of current and future program directions with an eye toward win/win collaboration with their government customers.
The conference is a one-day, unclassified event. The morning session will begin with a Team Redstone Overview by the AMCOM Commanding General, MG James Rogers, followed in the afternoon with a State-of-the-PEO briefing by BG Ole Knudson. During the morning, we have invited Army Senior Leaders from the Army Staff, HQ TRADOC, the Missile Defense Agency, and the Commanding Generals from all tactical missile User Centers to speak on their Tactical Missile perspectives. The sit down luncheon with a special luncheon speaker will be followed by afternoon presentations from all of the Project Managers of PEO Missiles and Space-managed programs.
The conference will take place on Tuesday, 26 April, in the East Halls of the Von Braun Center. Preceding the conference on Monday, 25 April, is an optional golf tournament at Valley Hill Country Club followed by an icebreaker social at The Summit at Big Spring in Downtown Huntsville at 5:00 p.m.
Registration and agenda for the conference and related events can be found online by clicking here.
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SBA Announces Contracting Program for Woman-Owned Small Businesses (WOSB)
First Contracts Expected to be Awarded through WOSB Program by Critical Fourth Quarter of Fiscal Year 2011
Women-owned small businesses can begin taking steps to participate in a new federal contracting program on Friday, Feb. 4, the U.S. Small Business Administration announced today. The new Women-Owned Small Business (WOSB) Federal Contract Program will be fully implemented over the next several months, with the first contracts expected to be awarded by the fourth quarter of fiscal year 2011.
"Implementing the Women-Owned Small Business contracting rule has been a top priority for the Obama Administration and SBA," said Administrator Karen Mills. "Women-owned businesses are one of the fastest growing sectors of the economy. As we continue to look to small businesses to grow, create jobs and lead America into the future, women-owned businesses will play a key role. That's why providing them with all the tools necessary to compete for and win federal contracts is so important. Federal contracts can provide women-owned small businesses with the oxygen they need to take their business to the next level."
The WOSB Federal Contract Program will provide greater access to federal contracting opportunities for WOSBs and economically-disadvantaged women-owned small businesses (EDWOSBs). The Program allows contracting officers, for the first time, to set aside specific contracts for certified WOSBs and EDWOSBs and will help federal agencies achieve the existing statutory goal of five percent of federal contracting dollars being awarded to WOSBs.
On Feb. 4, SBA will release instructions on how to participate in the program, as well as launch the secure, online data repository for WOSBs to upload required documents, on its website: www.sba.gov/wosb. SBA will also release an application to become an SBA-approved third party certifier for this program on that date. This will be the first version of the application. SBA welcomes comments and suggestions on this first version of the application.
For more information on the Women-Owned Small Business Program or to access the instructions, applications or database, please visit www.sba.gov/wosb. To read the entire release, click here.
Source: Teresa Wilson, SBA Public Information Officer, Alabama District Office
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SBA Strengthens 8(a) Business Development Program
The U.S. Small Business Administration today published a package of final rules that will revise regulations to strengthen its 8(a) Business Development program to better ensure that the benefits flow to the intended recipients and help prevent waste, fraud and abuse. The rules were published today in The Federal Register and will become effective on March 14, 2011. The revisions are the first comprehensive overhaul of the 8(a) program in more than 10 years. The regulations incorporate technical changes and substantive changes that mirror existing or new legislation enacted since the last revision in June 1998. "The 8(a) Business Development Program is an effective tool for providing small businesses with support to help them compete for and win federal government contracts, and in turn put them in the best possible position to drive economic growth and create jobs," SBA Administrator Karen Mills said. "Through public meetings held in cities throughout the country, SBA gained valuable input from members of the small business community on ways to strengthen the program to provide the best opportunities for eligible firms, while also stepping up efforts to combat waste, fraud and abuse." The rules cover a variety of areas of the program, ranging from clarifications on determining economic disadvantage to requirements on Joint Ventures and the Mentor-Protégé program. Some of the components of the 8(a) program that the revised regulations will affect include:
- Joint Ventures - requiring that the 8(a) firm must perform 40 percent of the work of each 8(a) joint venture contract that is awarded, including those awarded under a Mentor/Protégé agreement, to ensure that these companies are able to build capacity
- Economic Disadvantage - providing more clarification on factors that determine economic disadvantage as it relates to total assets, gross income, retirement accounts and a spouse of an 8(a) company owner when determining the owner's ability to access capital and credit;
- Mentor-Protégé Program - adding consequences for a mentor who does not provide assistance to their protégé, ranging from stop-work orders to debarment;
- Ownership and Control Requirements - providing flexibility on whether to admit 8(a) program companies owned by individuals with immediate family members who are owners of current and former 8(a) participants;
- Tribally-Owned Firms - requiring firms owned by tribes, Alaska Native Corporations, Native Hawaiian Organizations and Community Development Corporations to report benefits flowing back to their respective communities;
- Excessive Withdrawals - amending regulations on what amount is considered excessive as a basis for termination or early graduation from the 8(a) program; and
- Business Size for Primary Industry - requiring that a firm's size status remain small for its primary industry code during its participation in the 8(a) program.
To read the entire SBA release, click here.
Source: David Ramp, SBA Public Information Officer & Lender Relations Specialist
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WIPP's Women, Money and Opportunity programs offer courses to help you sustain and grow your business
Training 252: How to Secure Your Loan Friday, March 11, 2011 1:00 p.m. CST This course will help you understand the conceptual terms and conditions of a loan, including:
- Collateral - How the bank views collateral in its various forms
- Cash Flow - The cornerstone of your security
- Debt Financing - A long-term relationship with the bank
- Reporting - Expectations after the loan closes
Course Instructor: Sydnee Stein, VP Business Development, Eagle Bank Participation open to WIPP dues-paying members at no charge. Click here to register.
Training 120: Putting Your Business in Order: Build Your TeamTuesday, March 22, 2011 1:00 p.m. CST A discussion of the importance of: ˇ Having an advisory team, who is on it, and defining their roles ˇ Learn how to find the players ˇ Examining various business models to utilize an advisory team Course Instructor: Nicolina A. Stewart, CPA, PFS, CLU, ChFC, President and CEO, Capital Management Advisors, Inc. Course open to the general public for no charge. Click here to register. Training 111: Putting Your Business in Order: Increasing ProfitabilityThursday, March 31, 2011 2:00 p.m. CST Get your business in financial shape. We'll discuss how to: ˇ Focus on the best customers for your business ˇ Rethink your marketing tactics to deliver higher return on investment ˇ Rework pricing and discounts to bring in more cash Course Instructor: Mary Ellen Hickman, Brand Management and Marketing Strategy, Hickman Consulting Partners, LLC Course open to the general public at no charge. Click here to register. Source: Women Impacting Public Policy www.wipp.org |
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