24th Annual Amateur Golf Tournament

Thank you members for your support! We are looking forward to 'Business on the Green' this coming Wednesday. Good luck to all golfers!
Saturday, March 26: Pop Up Shop!
10 am - 2 pm
Chamber Office, Hagåtña
Save the Date!
March 30th
General Membership Meeting
Save the date for our next General Membership meeting scheduled for Wednesday, March 30th at the Micronesian Room, Hilton Guam Resort and Spa.

Our guest speaker will be Mr. Ho S. Eun, founder, and owner of Core Tech International Corporation who will speak on the return of tourism, with a focus on the Korean market.

Reserve your seat today!
Save the Date!
April 7th
Immersive Event and Mixer
Members are invited to join us for a tour at the Port Authority of Guam on Thursday, April 7, 2022 from 2:00 pm - 4:00 pm. The agenda will include an admin tour and in-yard (operations) windshield tour. Limited spots are available for the GYP's first ever this Immersive Professional Development event. Further details will be required for clearance upon receipt of your registration.

Additionally, an After-Hours Mixer will immediately follow this event from 4:30 pm - 6:00 pm at The Salon, Hyatt Regency Guam. The highlight of this gathering will include recognition of our 2021 and 2021 GYP retirees.

We hope that you are just excited as we are and look forward to seeing you on April 7th!
GYP logo
Save the Date!
Friday, April 8, 2022
We are excited to hold our first in-person Small Business Seminar series for the year on Friday, April 7, 2022 at The Gallery, Hilton Guam Resort & Spa from 8:30 a.m. - 10:00 a.m. Join us and hear from Andri Baynum, LPC of IHP Behavioral Health who will speak on Resiliency: Balancing Family, Work, Life. He will give an overview on finding balance with work, family, and life by understanding resiliency. Recognize the factors to build and sustain resiliency in your life and learn how resiliency can help with anxiety and overall health.

JDC Life Skills Event
Thank you, L.E.A.F.!
We would like to thank Andrea Murer, Owner of L.E.A.F. - Local. Eco. Alternative. Future. who spoke to the JDC clients on Friday, March 11th.
Prugråman Salåppe’ Program
Guam’s Prugråman Salåppe’ Program offers one-time cash assistance of Three Hundred Dollars ($300) per eligible household.


What is the duration of Guam’s Prugråman Salåppe’ Program?

Applications will be accepted until April 15, 2022.

For information on Guam’s Prugråman Salåppe’ Program please visit www.doa.guam.gov or email PSP@doa.guam.gov or contact us at 671.638.3833/3834. The office is located at 2urnd Floor ITC Bldg. Suite 215 Tamuning, Guam.

It's time to update your company information!
Did you receive an email from our Growthzone platform? If you did not receive a digital message from us, please contact your Chamber Team and we will set up your user login access. You don't want to miss out on important updates and members-only information so update your account today!
Member to Member Program
We are preparing our member-to-member benefits program and would like for all Chamber member employees to take advantage of upcoming specials. In order to accomplish this, we would need to set your company employees' names and emails in your member profile. You may send a spreadsheet, database, or list with the information and we can input the information for you. The information needed is employee name, title, and email address.

How can my company sign up?
You can include your offer on your Member Info Hub on our website. If you do not have user login access, please give us a buzz and we can set you up! Thank you for your support!
DUNS-to-UEI Transition
 
The Integrated Award Environment (IAE) will no longer use the Dun & Bradstreet DUNS Number effective April 4, 2022, for SAM.gov and other IAE systems.
 
Effective April 4, 2022, IAE will use the Unique Entity ID (UEI). For more information about the transition from the DUNS Number, click here.

UEI insight 
  • The DUNS Number will no longer be used to identify entities doing business with the federal government. It is being replaced by the Unique Entity ID (SAM). 
  • The Unique Entity ID (SAM) is a 12-character alphanumeric value managed, granted, and owned by the government.  
  • After April 4, 2022, entities will go to SAM.gov to obtain their Unique Entity ID (SAM). 
  • The Unique Entity ID (SAM) will be the identifier of the record.
  • The plus4 will be renamed to Entity EFT Indicator
  • Sign up to receive updates at GSA’s Interact Community: https://interact.gsa.gov/group/integrated-award-environment-iae-industry-community
  • Visit SBA’s Office of Policy, Planning, and Liaison’s (OPPL) IAE Systems Teams site to find resources and ask questions.
 
UEI Transition Details: As GSA’s IAE prepares SAM.gov, FPDS.gov, eSRS.gov, FSRS.gov, FAPIIS.gov, and CPARS.gov to transition for the UEI, please be aware of the following important dates:
 
  • March 29 is the last day to obtain a new DUNS Number from Dun & Bradstreet for registering an entity or getting a Unique Entity ID (SAM) before the transition.
  • Before 8:00 PM (ET) on April 1 is the last day a DUNS Number can be used to get a Unique Entity ID (SAM) or register an entity in SAM.gov. 
  • SAM.gov will be down for maintenance to complete the transition beginning on April 1 at 8:00 PM (ET) until no later than 9:00 AM (ET) on April 4. 
  • Starting Monday, April 4, 2022, the new Unique Entity ID from SAM.gov will be the official, government-wide identifier used for federal awards. 
  • If you are using a DUNS Number as a filter or attribute on an ad hoc contract data report in the SAM.gov Data Bank, you need to replace the DUNS field with a Unique Entity ID (SAM) field. 
  • No later than 9:00 AM on April 4, SAM.gov will be back online. DUNS Numbers will no longer be displayed in IAE systems or accepted for entity registration. 
STAND WITH THE PAC!
Do you believe it's time to make a difference in our community? If you want to influence change in our legislature, we encourage your support of ACTION PAC.

Learn more by clicking on the PAC's news page and engage with the PAC by joining its membership (its free!) or by following and interacting with the PAC on social media! Click on their website for details!

Be a Force for Positive Change! #JointhePAC and #TakeActionGuam

U.S. Chamber Updates
How Small Businesses Can Best Navigate the 2022 Tax Season

Over the last two years, the pandemic has caused tax deadlines to shift and brought about federal relief programs — all affecting how small businesses file income taxes. CO– by the U.S. Chamber of Commerce hosted an event this week with accounting experts on how to navigate the 2022 tax season.

Why it matters: Although the 2022 tax season is shaping up to be closer to “business as usual,” there are some considerations of which small business owners need to be aware.

Key takeaways:
  • Unlike 2020 and 2021, there are no major changes small businesses need to know for this tax season. “We're kind of returning back to the ‘before’ times, where there are not a lot of changes, [and] you're treating your taxes as you always have,” said Keila Hill-Trawick, founder and CEO of Little Fish Accounting.

  • In the early days of the pandemic, Congress allowed businesses to defer unemployment and employer taxes from their payroll. Those who elected to do so need to pay those taxes for the 2022 tax season.

  • Each state has different policies when it comes to tax record retention, so it’s important for companies to be up to date on their local tax requirements, said Chris Whitaker, principal at Iron Mountain. “Really understand what the record retention requirements are for where your business operates. Every state can have different requirements around record-keeping.”

  • Tax preparation is an ongoing process, so business owners should meet with their accountants and bookkeeper regularly. Providing them with accurate, updated financial records allows your accounting team to develop a strategy and reduces surprises when filing taxes.

Consumers Keep Spending, But Inflation Erodes Buying Power

The Census Bureau reports that retail sales rose 0.3% in February. Accounting for inflation, retail sales declined by -0.5%.

Why it matters: If we average January and February data that puts retail sales growing a little less than 2% in inflation-adjusted terms. This suggests consumers are in a strong position and are continuing to spend, even as inflation and the war in Ukraine heighten uncertainty and roil markets.

By the numbers:
  • Sales were up at motor vehicles and parts dealers (0.8%), building material and garden supply stores (0.9%), gas stations (5.3%), clothing and accessory stores (1.1%), sporting goods and hobby stores (1.7%), miscellaneous stores (1.9%), and food and drinking places (2.5%).

  • They were down at furniture stores (-1%), electronics and appliance stores (-0.6%), food and beverage stores (-0.5%), health and personal care stores (-1.8%), general merchandise stores (-0.2%), and non-store retailers (-3.7%).

Be smart: Consumers still have ample savings to spend down, and wages continue to grow strongly, even if they aren’t keeping up with price increases (especially gas prices). These factors should support continued spending growth.

  • But inflation will weigh that growth down. For instance, a likely further rise in inflation in March means we could see retail sales growth this month but at a pace below the rise in prices.

—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce


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