|
Important Information You Need to Know About COVID-19 Response
|
|
|
Week three, Day two's newsletter includes What you need to know about the Stay-at-Home order, CARES Act information for non-profits, and a new Peninsula Biz Buzz with Debra Farley, Associate Executive Director of the Hampton Roads SBDC, talking about disaster relief for small businesses.
|
|
From the Virginia Peninsula Chamber of Commerce President/CEO and Chairman of the Board
Dear members, partners, colleagues and friends,
We are certainly in challenging times and things very likely will get worse before they get better. The Virginia Peninsula Chamber of Commerce is working closely with local government, business and community partners to support our local workforce and businesses. With the recent reports of COVID-19 cases throughout the Peninsula, it is imperative that the business community utilize strategies to be as prepared as possible to protect the health of our workforce. In an effort to assist with your efforts, we have developed a one-stop resource newsletter which will be updated regularly, blasted to our membership and posted on our website. It will include federal, state and local resources, information from local partners, important news updates and information on Chamber events and programs. As of today, March 18th, in keeping with the CDC recommendation to promote social distancing and in view of the Governor's declaration of a state of emergency, the Chamber will cancel all in-person events until further notice and the staff will be teleworking until April 1st at which time the situation will be re-evaluated. If you need to contact the Chamber staff, please use the following emails: bob.mckenna@vpcc.org or sjohnson@vpcc.org. Thank you.
Robert McKenna
President/CEO, Virginia Peninsula Chamber of Commerce
Kevin Joyce
Financial Security Management
Chairman of the Board, Virginia Peninsula Chamber of Commerce |
|
|
|
STAY AT HOME ORDER
Governor Northam has just ordered a stay at home order through Executive Order 55. Details are included in the press release at this link: https://bit.ly/2UQnIRJ
Executive Order 55 is here: https://bit.ly/33Z0Q6I
What you need to know about the Stay at Home Order (Executive Order 55) - from the Virginia Chamber of Commerce: https://bit.ly/3dI0hCP
|
|
|
CARES ACT FOR NON-PROFITS
Join the United Way of the Virginia Peninsula for a virtual meeting Thursday April 2nd at 10:00am to hear about how the CARES (Coronavirus Aid, Relief, Economic Stimulus) Act will impact the non-profit community. Tracy Tingen, CPA and President of A Balancing Act, P.C. will outline the benefits and stimulus available in this legislation, who qualifies, and what you can do to access federal resources. This opportunity is available to all community non-profit organizations, so please feel free to share. Join the Zoom Meeting at https://cwm.zoom.us/j/496708679
How Nonprofits Will Receive CARES Act Funding - Part One
Nonprofit Execs, Here's How To Access Emergency Funding for Charitable Organizations
The United States Treasury announced Sunday that FDIC insured local banks, credit unions and qualified lenders have been authorized to distribute CARES Act Funding to Nonprofits. According to this morning’s Senate CARES Act Questions & Answers, “The most efficient way to deliver fast credit to eligible organizations is through existing relationships with local lenders. Under the program, any qualified organization should be able to receive financing at a local bank, credit union, CDFI, or qualified nonbank lender.”
Simply put, CALL YOUR BANK OR CREDIT UNION THIS MORNING!
Benefits for Nonprofits Under the CARES Act
The employer side of certain payroll taxes are deferred through the end of 2020. Deferred taxes will not become due until end of 2021 and end of 2022, with 50% of the liability being paid at each date. Any business that does not have a loan forgiven under the new SBA Paycheck Protection Program is eligible for the payroll tax deferral.
Certain tax-exempt organizations that have been forced to fully or partially suspend operations, or that have seen a significant drop in revenues are eligible for a 50-percent credit for wages paid to furloughed or reduced-hour employees. Organizations that participate in the SBA Paycheck Protection Loan Program are not eligible for the credit. For organizations with 100 employees or less, the credit is based on all wages paid, regardless of whether an employee is furloughed.
There is an overall limit on wages per employee of $10,000. The credit can be claimed against the organization’s quarterly payroll tax liability and is fully refundable to the extent of excess. VISIT HERE FOR COMPLETE ARTICLE
|
|
|
COVID-19 757 BUSINESS LEADER SURVEY
A critically important survey regarding COVID-19’s impact and needed response in our region was sent to Hampton Roads Business Leaders (one to each VPCC member company - main POC) on Saturday.
The survey serves three purposes:
- Obtain immediate information on how the Hampton Roads business community is being affected by and responding to the COVID-19 crisis.
- Identify ways Hampton Roads’ lead business organizations can support the business community during the COVID-19 crisis.
- Gather immediate information to share with local, state, and federal officials to help them formulate response plans.
The leading business organizations serving the Hampton Roads have joined forces to conduct this survey. This includes the Alliance, Reinvent Hampton Roads, Hampton Roads Chamber, Virginia Peninsula Chamber, Hampton Roads Workforce Council, and Old Dominion University School of Business.
We have engaged SIR, a national research-based strategic consultancy (www.sirhq.com) to help us conduct this survey.
The survey should take approximately 5 to 7 minutes to complete. We need your response by the end of the day Wednesday, April 1.
Thank you in advance for your support. If you have any questions related to this survey, please contact me at 757-818-3021 or at this bob.mckenna@vpcc.org.
|
|
|
RETAIL ALLIANCE STRIVE WEBINARS
Check out these Retail Alliance Strive webinars:
- Mind Hack Coach Lisa Smith will be presenting on Resiliency and Decision-Making in Uncertain Times: From Fear to Hope to Freedom, Tuesday, March 31 at 9:30 a.m. Click here to register for the online event. Lisa Smith will share some crucial information, insight and resources right now to help retailers stay in the right mindset for making decisions and feeling a sense of hope that there are things they CAN do and control right now in the midst of this.
- Bernd Haase, The Alternative Board, is presenting Emergency Business Planning, Thursday, April 2 at 9:30 a.m. Click here to register. There are three ways you can face the uncertain future: panic, do nothing, or plan. As a TAB Business Coach, Bernd's goal is to guide business owners through these tough times and help navigate the uncertain waters…and the best way to do this is to plan, making the situation under your control as much as possible.
- Sonya Schweitzer, The Intentional Marketer, is presenting How to Use Email Marketing to reach your customers, improve sales, and increase customer interaction. Tuesday, April 7 at 8.30-9.45 a.m. Click here to register.
- Coronavirus Retail Briefing by Virginia Retail Federation lobbyist Kate Baker. She will answer questions you may have. Friday April 3rd, 9:30am. Register here.
- And don't forget we have opened up access to everyone for 2018, 2019 and 2020 STRIVE Workshop Recordings in the hopes that some of this info could help you and your business.
|
|
|
RESTAURANT LOVERS TAKEOUT WEEK
Virginia Tourism Corporation has started a Statewide Virginia is for Restaurant Lovers Takekout Week (March 30 - April 5) and Newport News is joining in to help our restaurants during this hard economic times.
|
|
|
|
