Posts Categorized: Small Business Information

Partnership Pitfalls: Part 1

Two hands bringing puzzle pieces together, blue and white background with solar flares

Partnership Pitfalls So… you and your best friend, brother, or spouse want to go into business together? Of course, you agree on everything right now, but what happens when you dont? In many cases being realistic and pragmatic can be the kindest, mostly loving thing you can do for your partner and yourself. Our very… Read more »

Big Changes to the 1099-K: Is your small business ready?

If your small business receives income via third-party settlement processors like PayPal, Venmo, and CashApp, you may be in for a surprise. The American Rescue Plan Act (ARPA) passed by Congress in 2021, provided pandemic relief to many small businesses.  It also included a bill that significantly changed reporting requirements for third-party settlement organizations like… Read more »

Recruiting – Thinking Outside The Box

With the summer season right around the corner, you’ve probably already started thinking about different recruitment techniques for your company. In the last few years, there’s been an ongoing shift towards focusing on the importance of smart recruitment techniques to improve results and the candidate’s experience. There are many ways to attract talented employees to… Read more »

Minimum Wage Increase in 2022

Get Ready for the Minimum Wage Increase: 3 Practical Tips Minimum wage is increasing to $12.75 on January 1, 2022. (Maine law requires minimum wage adjustments annually based on the cost-of-living index.)  Here are some practical tips to help you get ready:

Why Customer Service Matters This Summer

After a trying year, tourists and locals alike are looking forward to enjoying all that Maine has to offer. Thankfully, things are looking up this summer tourism season and Maine is expected to have a bustling summer.  As we prepare, we have to keep in mind the individual struggles people have experienced over the past… Read more »

Shuttered Venue Operators Grant (SVOG)

IMPORTANT UPDATE (4-23-21): Application portal reopens Saturday, April 24 Businesses can now apply for both a PPP loan after Dec 27, 2020 -and- the SVOG!  The purpose of the Shuttered Venue Operators Grant program is to provide aid to small business owners who have been hit hard by COVID-19 related shutdowns. The bill allows for $15… Read more »

Environmentally Conscious Cost Savings

By: Jared Entwistle, Maine SBDC Intern In the wake of the COVID-19 pandemic, it’s more important for small businesses to think about ways to conserve cash flow. This often presents a dilemma for those who want to be conscious of their carbon footprint: how can I reduce my business’s environmental impact while maintaining a budget? … Read more »

Small Business Support in the American Rescue Plan

On March 12th, the third stimulus bill called the American Rescue Plan passed into law. The bill consists of $1.9 trillion to help people and businesses struggling with the pandemic. Here’s what you can expect from the bill for your small business. Please note: Updates to these programs are likely as details are finalized. As… Read more »

Employee COVID Vaccine Policy?

SPECIAL CONTRIBUTOR: Maine Law and MeRTEC 2-26-2021 Coronavirus cases continue to be reported throughout the state. As of mid-February the total number of cases in Maine has exceeded 43,000, with more than 1,500 hospitalizations and 650 deaths. The data shows that the COVID-19 vaccines are safe and effective, and many Maine employers and employees alike may be wondering whether an… Read more »