SMALL BUSINESS DEVELOPMENT CENTER
 

Lead Center | (616) 331-7480 |   SBDCMichigan@gvsu.edu

What does the new overtime law mean for small businesses?
For the first time in 12 years, the U.S. Department of Labor has announced an update to the overtime rule that will greatly impact America's middle class.

The ruling, officially announced by President Barack Obama and Department of Labor Secretary Thomas Perez on May 18, increases the salary threshold for paid overtime from $455 per week to $913 per week. Formerly, salaried workers were only eligible for paid overtime if they earned an annual salary of $23,660 or less. Under the new ruling, employees with annual salaries of $47,476 will be eligible for paid overtime if they work more than 40 hours in a week.

According to the DOL, the new rules will extend overtime protection to 4.2 million workers in the United States. However, the Economic Policy Institute estimates that the laws will impact up to 12.5 million Americans, many of whom are currently mis-classified as having job duties that preclude receiving overtime.

Meet the
Consultant: 
Jamaal Ewing


Jamaal joins the Michigan SBDC team as the Economic Inclusion Business Consultant, a new position created to advance one of the Michigan SBDC's priorities, to provide outreach and service delivery to economically challenged communities.

Small Business, Big Threat
Is your business cyber secure? Take the Small Business, Big Threat cyber security course to find out!

Flint Podcasting Company

What do warehousing, podcasting, and liberal arts have in common? Not much unless you're Stacie Scherman.

Stacie's father owns a warehousing business and has been a Michigan Small Business Development Center (Michigan SBDC) client since 2008. About four years ago, Stacie returned home to Flint with a newly minted Bachelor's Degree and went to work for her father. Business came naturally to her and she helped to drive dramatic improvements and growth with her ability to organize details, understand financials, and manage strategically. Stacie was always thinking about the business she wanted to start and operate, making progress intermittently on writing a business plan with guidance from the Michigan SBDC consultant she and her father shared.

While participating in an oral history research project as a post-grad English and Liberal Arts student at U of M Flint, she was immersed in the idea of creating a podcast series to capture stories about the Flint water crisis. The idea was for each episode in the series to focus on a different perspective, including Flint business owners, Flint school teachers, children, parents, water distribution volunteers, as well as non-Flint residents.


 

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