Med-Fit, PLLC provides physician-supervised individualized weight management systems designed to help overweight and obese clients lose and maintain a healthy weight.

Owner Dr. Angela Train is Board-Certified in Internal Medicine and Obesity Medicine and has practiced in primary care since 2007. Despite Angela's extensive education and experience, she admits she knew very little about how to start a business when she decided to seek assistance from the Denver Metro SBDC in January of 2012.

Angela met with SBDC consultant Nancy Barnett for business plan development and review, as she was in the process of applying for a $400,000 SBA loan. Soon after, Wells Fargo awarded Angela a $230,000 SBA practice finance loan. Nancy also referred an attorney, accountant and banker, all of whom currently sit on Angela's professional advisory board.

Angela also sought marketing assistance from SBDC consultant Wendy King, who helped her orchestrate and execute her marketing plan; including website development, advertising, public relations, search engine optimization, outreach and networking. Angela says, "I owe a lot to Wendy."

"The assistance I received from Wendy and Nancy are the root of my success. They really helped to create structure and provided me with the resources and tools to make sure my business was on the road to success." 

Angela dealt with many obstacles before opening her doors in September of 2012. "Believing in my product, who I am and how I add value has helped me to move forward despite my obstacles. And the SBDC gave me the confidence to overcome all the challenges I faced when starting my business."

Just three months after starting her business, Angela built a client base of over 40 patients, with gross revenue of about $108,000. She has two full time employees, including a personal trainer and a medical assistant. 

America's 28 million small businesses are the backbone of our economy. Recently, the Taxpayer Relief Act of 2012 delivered them some really good news.

Below are some of the key tax incentive extensions your business could be using today. Whether you've made R&D or equipment investments or hired veteran employees, you stand to benefit from one or more of the extended tax incentives.  What's more, small businesses looking for investors can benefit from the 100 percent exclusion of gain on small business stock. 

R&D Tax Credit.  The law extends the research and experimentation tax credit (popularly known as the R&D credit), which had officially expired at the end of 2011, through 2013.  In addition, the law allows businesses to apply the credit retroactively to investments made in 2012.

Section 179 Deduction. Section 179 of the tax code permits small businesses to deduct the cost of certain new and used property placed in service for the year rather than depreciate those costs over time.  The new law extends the maximum deduction to $500,000 for the 2012 and 2013 tax years for companies with under $2 million in qualifying capital expenditures.

Bonus Depreciation. The bonus depreciation provision enables small businesses to recover the costs of qualified new equipment faster than the ordinary schedule, by permitting the depreciation of 50 percent of the cost in the first year. The provision was set to expire at the end of 2012, but has been extended through the end of 2013 (and 2014 for certain types of property).

Work Opportunity Tax Credit. The new law extends through 2013 the tax credits for employers who hire military veterans or individuals from underserved communities that have faced barriers to employment.

Other Small Business Tax Credits. There are a handful of other targeted tax credits that were extended for 2012 and 2013, including: the new markets tax credit for businesses that invest in certain community development entities and other qualified investments; a reduction in the recognition period for S-corporation built-in gains tax; and a reduction in the time from 39 years to 15 years over which a business can recover the cost of certain leasehold improvements and restaurant and retail property; among other targeted provisions.

Article written by Karen Mills, SBA Administrator.  See the full article here.

Nominate a company for the 2013 Colorado Companies to Watch Award!  Click here to nominate!

This unique awards program, developed by the Edward Lowe Foundation, produces a multitude of benefits for all stakeholders. Participating companies have the opportunity to gain increased visibility in local and state communities as well as to improve stakeholder relationships and contribute to a dynamic business environment. Citizens will have increased access to rewarding income opportunities and be able to build pride in innovative and valuable entrepreneurial companies. The state of Colorado will be able to showcase trend-setting leaders in diverse entrepreneurial fields that strengthen the state's economy. Do you know of a company that's worth watching? Nominate that company. If yours is such a company, apply directly.

The FAR Council and agencies released details of procurement policy changes in the semi-annual regulatory agenda.

See Federal News Radio article for a roundup of some of the most significant upcoming proposed and final rules.  A number of these affect small business, see article and table for more information and links.

In recognition of the small business community's contribution to the American economy and society, the President of the United States designates one week each year as National Small Business Week Small Business Week 2013 which will be celebrated in Spring 2013.  

Leading up to National Small Business Week 2013 (SBW 2013), the U.S. Small Business Administration (SBA), often in conjunction with public- and private-sector small business supporters, will host special events at the local and state levels to honor and present awards to local entrepreneurs and those who support and champion small business. Many of the award winners from those local and state events will be invited to Washington, D.C. for SBW '13 - Celebrating National Small Business Week. 

The deadline for nominations for the 2013 National Small Business Week awards has been extended to January 31st.   

Click here for the types of awards given as well as the nomination process and nomination form.