Like many small business owners, Rhonda Feiman, acupuncturist, wonders how long it will be before her clinic experiences some level of normalcy in the wake of the COVID-19 pandemic. Concerns of safety, logistics, and compliance prevent Rhonda from reopening her practice to in-person care. She’s been serving her clients through telehealth for several months, but a lack of personal contact left a void in her offerings and her bank account.Read More
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Business Owners – the SBDC needs your help.
Help us help you.
The Maine SBDC, in partnership with the University of Southern Maine, has developed the Small Business COVID Crisis Survey . The goal of the survey is to help us better understand the impact of the COVID-19 pandemic on small businesses throughout Maine.
Serving Customers During a Pandemic
By: Keenan Hendricks, Maine SBDC Intern
Customer service looks different these days. As a business owner, you are in control of how your customers see you through this shift. While it is vital to try your best to enforce and follow CDC safety guidelines, there are opportunities to serve and develop relationships with your customers amidst the pandemic.
Here are some tips from a recent webinar hosted by Business Advisor Susan Desgrosseilliers.
COVID Stories: TuneTown Music Gear | Retail & Service
COVID has caused massive disruptions in the way we all do business. Businesses throughout Maine are finding unique and interesting ways to connect with their customers, find new revenue streams, and keep their businesses afloat. Want to share how your business is pivoting? Contact us here.
John and Pam Edwards have owned TuneTown Music Gear for 16 years in Wells. They bring generations of musical industry experience with the vision of providing a positive and nurturing experience in music instruction, service, and sales. Their business features nine large state of the art lesson studios, a recording studio, and a live performance stage. In the showroom, they offer a selection of instruments, keyboards, amplification, PA and recording gear, audiovisual installations in schools, churches, and military bases, print music and accessories at competitive prices. TuneTown also provides repair and maintenance on instruments and electronics.Read More
COVID Stories: Wine Wise in Portland | Events & Experiences
COVID has caused massive disruptions in the way we all do business. Businesses throughout Maine are finding unique and interesting ways to connect with their customers, find new revenue streams, and keep their businesses afloat. Want to share how your business is pivoting? Contact us here.
Erica Archer owns Wine Wise. In normal times, Wine Wise provides wine, food, and spirit-based experiences. She and her team host group events that help connect customers to Maine’s vibrant food and beverage scene. Wine Wise hosts these wine and food events on sailboats and on walks through Portland’s bustling downtown. She also hosts trips to wine regions around the World.
COVID Stories: My-FIT-24 in Gorham | Heath & Fitness
COVID has caused massive disruptions in the way we all do business. Businesses throughout Maine are finding unique and interesting ways to connect with their customers, find new revenue streams, and keep their businesses afloat. Want to share how your business is pivoting? Contact us here.
Stacey and Jesse Coleman own My-FIT-24, a 24-hour fitness facility located in Gorham. Started in 2007, My-FIT-24 provides access to fitness equipment, personal training, and group classes. The couple and their team are passionate about creating sustainable fitness solutions for their clients and community. Their programs are based on science to provide safe and effective workouts.Read More
COVID Stories: Acacia House Inn in Bar Harbor | Lodging & Hospitality
COVID has caused massive disruptions in the way we all do business. Businesses throughout Maine are finding unique and interesting ways to connect with their customers, find new revenue streams, and keep their businesses afloat. Want to share how your business is pivoting? Contact us here.
Anna Durand and her husband own Acacia House Inn located in downtown Bar Harbor. Housed in a 10th-century building, this classic B&B features 9 rooms with soft linens, private baths, hardwood floors, and some with balconies. Full breakfast is served every morning with local ingredients.Read More
Tips to Prepare for Reopening
By: Business Advisor Susan Desgrosseilliers
Though your business may be closed, now is the time to start preparing for your next chapter. We recommend you develop a well thought out plan for when you can open again. While not all businesses are brick and mortar, many of these tips can be applied to your business.
Focusing on the highlighted areas below will help make the transition easier for you, your employees and your customers. People across the country are rooting for the small business community, making this an opportunity for you to solidify existing customer relationships and to welcome new customers.
How YOU Can Support Local Businesses Right Now
Small businesses need you now more than ever. Maine would not be complete without the small businesses that make our communities unique, or without the hardworking business owners who create quality jobs for our families, friends and neighbors. We are all in this together. Pay It Forward and Maine Helps initiatives encourage Mainers to come together to support one another and our amazing small businesses. Read More
Round 1 of the Paycheck Protection Program
Revised 1/20/2020: Important updates to this FIRST ROUND of PPP in the Economic Aid Act, passed December 2020.
- NEW Forgiveness Application for loans of $150,000 or less can be found here
- SBA EIDL Advance amount will no longer reduce the amount that can be forgiven. Previously, if you had received an SBA EIDL advance/grant (which was $1,000 per employee up to $10,000 maximum), this amount was deducted from your forgiven amount. This meant that you would be left with a loan amount equal to the EIDL Advance amount. The new legislation repeals this practice for both rounds of PPP.
- Expenses covered by PPP loan funds ARE deductible. Previously, the IRS had advised that expenses paid for by non-taxed income could not be deducted. This clarifies this issue. This means that any expenses in which you used PPP loan money to pay can also count as a deductible expense in calculating your net profit.
The application period for the first round of the PPP program has closed.
For info on the second round of PPP, click here.
What is the Paycheck Protection Program (PPP)?
The PPP provides small businesses with funds to pay payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Read More