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From the Central Virginia Small Business Development Center
May 7, 2024
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Happy Economic Development Week!
Economic Development is the intentional practice of improving a community’s economic well-being and quality of life. Economic developers strive to promote and raise awareness for local job creation programs, advance career development opportunities, and improve communities.
Thank you to the Offices of Economic Development in the City of Charlottesville and the Counties of Albemarle, Culpeper, Fluvanna, Greene, Louisa, Madison, Nelson, Orange and Rappahannock for the work that you all do to support our small businesses and the Central VA SBDC!
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Alert: Salary Threshold for Exempt Employees Increases | |
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From our partners at Woods Rogers Vandeventer Black:
The Department of Labor released a new rule on April 24 that changes the salary threshold used to determine whether a worker is exempt from overtime pay. The rule takes effect on July 1, 2024, and is estimated to significantly impact both employers and employees. Leah, King, and Emily of WRVB analyze the practical implications of the new final rule and what employers should be doing now to get ready in this video.
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You may also register to join McGuireWoods on May 9th for a webinar discussing the new Department Of Labor salary threshold. The labor and employment team will provide an overview of the new rule and practical steps for evaluating and addressing employee Fair Labor Standards Act (FLSA) classifications and related risk. Register Here
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FTC Announces Rule Banning Non-competes
The Federal Trade Commission (FTC)'s rule is designed to promote competition by banning non-competes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation.
For business owners protecting what you have built, SBDC suggests utilizing process and customer document control and intellectual property to protect your competitive edge. Meet with SBDC to discuss protecting your business assets.
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Retirement Funds as Business Collateral?
A ROBS (Rollover as Business Start-up) is an arrangement in which prospective business owners use their retirement funds to pay for new business start-up costs. Unfortunately, many business startups fail. Please take advantage of startup support resources before using your retirement savings to support the business.
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Second Round Applications for the Albemarle Agribusiness Resiliency Grant Program
If you are a direct-market agribusiness located in Albemarle County, you're invited to apply for an Albemarle Agribusiness Resiliency Grant. Application period is from Friday, April 19 to Friday, May 10, 2024. Learn more and apply.
Contact Liz Hatcher, Management Analyst, at ehatcher@albemarle.org or call 434-972-4016 for additional assistance.
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Fast Break for Small Business
This grant program is funded by LegalZoom, the NBA, WNBA and NBA G-League and administered by Accion Opportunity Fund. You can win a $10,000 business grant plus $500 worth of LegalZoom services.
To qualify, you have to be U.S.-based business with at least three months in business.
Applications for the 2024 cycle are open until Sept. 13, 2024. Learn more and apply.
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$10k grant from the NAACP and Bacardi
The NAACP and Bacardi are proud to announce the Backing the Bar Grant Program! This program is providing $10,000 grants to 10 entrepreneurs with a liquor license or real liquor license aspirations. If you need financial, educational, or mentorship support, apply to the Back the Bar Grant Program today!
Applications are open through May 24, 2024 at 6PM ET. Apply today!
Preference will be given to Black Entrepreneurs.
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All programs of the Virginia SBDC are open to the public on a non-discriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. |
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Attention Culpeper Businesses!
The second annual C3, Culpeper County Conference, is just around the corner!
Join us for a 1/2 day of learning and an evening networking event
geared for Culpeper County businesses.
Click on the graphic below to register!
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Don't miss the final QuadTank Pitch Competition!
Meet with a CV SBDC Business Advisor during upcoming County Office Hours or schedule an appointment by reaching out to QuadTank@cvsbdc.org or 434-295-8198
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Let's Break to Educate - QuadTank
CV SBDC Assistant Director, Rosi Beachy will offer a special session of the monthly "Let's Break to Educate" series during County Office Hours to help businesses prepare for QuadTank! Join Rosi for any of these sessions for a jump start on your business plan and pitch preparation.
- Louisa County: May 14, 8:30 - 9:30 AM | 111 W Main St, Louisa
- Greene County: May 20, noon - 1:00 PM | 9157 Seminole Tr, Ruckersville
- Fluvanna County: May 21, 10:30 - 11:30 AM | 132 Main St, Palmyra
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Charlottesville Entrepreneurs + Espresso (C-E2)
May 21 | 8 AM - 10 AM
In Person (Charlottesville)
Attend this monthly series to network with entrepreneurs at all stages, hear from Brooke Blankenship and Avery Bruen, of CARE Lab, and learn lessons from Bob Lloyd, Principal Consultant of Walnut Partners LLC.
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Webinars from the Virginia SBDC Network | |
Are you a Latino-owned or Latino-led U.S. company in Virginia? Join U.S. Commercial Service and the Virginia Hispanic Chamber for a series of free informational workshops where you will learn why it makes sense to sell your products and services in Latin American countries and how you can access these markets using e-commerce best practices. Register here. | | |
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Join CBIC on Thu, May 30, 2024 at 5:00 PM at North Fork, Town Center Four as they celebrate a quarter-century of tech innovation and success. This in-person event promises to be a night filled with networking, entertainment, and recognition of the incredible achievements in the tech industry. Buy your tickets today! | |
Are you looking to do business with the government? | |
Virginia APEX Accelerator (Virginia PTAC) provides free of charge services to help businesses do business with government, both federal and state/local. Services include helping newcomers (FAR, SAM, DSBS, and more) to WOSB, SDVOSB, GSA schedules application, 8(a) certification to analyzing and responding to RFPs and more.
To register with VirginiaPTAC for procurement assistance please visit their website VirginiaAPEX.org and complete their request for counseling form.
Virginia PTAC also offers regular programming covering a wide variety of timely and important topics. Visit the Virginia PTAC online events calendar here.
Upcoming webinars include:
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Central Virginia SBDC
Your Partners in Business:
Supporting Small Business - from Startups to International Expansion
Serving the City of Charlottesville and the Counties of Albemarle, Culpeper, Fluvanna,
Greene, Louisa, Madison, Nelson, Orange, Rappahannock.
Meet With Us
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