Archive for 'News'

ATLANTA –The U.S. Small Business Administration announced today the opening of two Disaster Loan Outreach Centers (DLOCs) and a Business Recovery Center in Kentucky on Monday, April 2. These Centers will continue to provide one-on-one assistance to homeowners, renters and business owners seeking disaster assistance for losses caused by the severe storms, tornadoes, winds and flooding that occurred between Feb. 29 and March 3, 2012.

“Survivors who receive a SBA disaster loan application should submit it as soon as possible to receive consideration for a loan to help with their recovery”, said Frank Skaggs, director of SBA Field Operations Center East. “SBA’s Customer Service Representatives will be on hand at all of the Centers to issue loan applications, answer questions about the disaster loan program, explain the application process and assist survivors with completing their applications”, Skaggs added.

All SBA Centers will remain at the current Disaster Recovery Center locations and open Monday,
April 2, with hours Monday thru Friday, 9 am to 6 pm, closed Saturdays and Sundays; and remain open until further notice, at the following locations:

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DETROIT — Victims of the severe storms, tornadoes, straight-line winds and flooding that began on Feb. 29, 2012 in parts of Kentucky may qualify for tax relief from the Internal Revenue Service.

The President has declared Johnson, Kenton, Laurel, Lawrence, Menifee, Morgan and Pendleton counties a federal disaster area. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Feb. 29, and on or before May 31, have been postponed to May 31, 2012. This includes the April 17 deadline for filing 2011 individual income tax returns, making income tax payments and making 2011 contributions to an individual retirement account (IRA).

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Feb. 29, and on or before March 15, as long as the deposits are made by March 15, 2012.

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The deadline for minority and women-owned businesses to apply for a program to help them compete in the construction business has been extended to December 9, 2011. The classes will begin January 10, 2012.

The Lexington Minority and Women Contractor Training Program is in its second year. It is a 10-week program that covers topics ranging from estimating and bidding to subcontracting. It will again be held at the Lexington-Fayette Urban County Government Center, 200 East Main Street.

The program teaches skills that will help minority and women-owned businesses and is sponsored by the Kentucky Small Business Development Center, Bluegrass Airport, Messer Construction Co., BEX Construction, the Fayette County Public Schools and the Lexington-Fayette Urban County Government. A new sponsor, the University of Kentucky Facilities Management, has been added.

“These partnerships have reignited this program and we are definitely seeing results. We have seen a number of last year’s participants get contracts as a direct result of them attending the workshops,” said Dee Dee Harbut, director for special programs with the Kentucky Small Business Development Center.

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LEXINGTON, Ky.– Governor Steve Beshear today announced a major small business initiative that will provide Kentucky’s small businesses with access to nearly $155 million in new loans to help with job creation across the state.

The Kentucky Small Business Credit Initiative involves three new small business programs implemented by the Kentucky Cabinet for Economic Development to facilitate increased private lending to Kentucky’s small businesses. The programs include: the Kentucky Capital Access Program; the Kentucky Collateral Support Program; and the Kentucky Loan Participation Program.

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The Pacesetter Business Recognition Program recognizes high-performing second stage businesses that are producing innovative products,increasing sales, creating jobs and serving communities of the Commonwealth.

Winners are selected based on their intent and capacity to add employees, grow sales, and develop innovative products along with their contributions to the community and commitment to their employees.

• Whereas, men and women who operate small businesses spur Kentucky’s economic growth by generating billions of dollars in small business income
• Whereas, small businesses provide citizens with products and services and offer Kentucky consumers a variety of options
• Whereas, small businesses generate substantial dollars in tax revenues which helps provide the state and federal governments with the money needed to operate efficiently
• Whereas, we are calling upon each of our citizens to celebrate the achievements and contributions of entrepreneurs and their employees and encourage the development of new small businesses.

Now, Therefore, I, Steve Beshear, Governor of the Commonwealth of Kentucky, do hereby proclaim May 11, 2011 as Kentucky Small Business Day.

Press Release Date: Thursday, January 20, 2011
Contact Information: Kerri Richardson Jill Midkiff
502-564-2611

Bowling Green small business creates winning design, applications now being accepted

FRANKFORT, Ky.– Gov. Steve Beshear today unveiled a new small business specialty license plate design, created to bring attention to the major role small businesses play in Kentucky’s economy. The design was selected by the Kentucky Commission on Small Business Advocacy, in cooperation with Partners for Entrepreneurial Advancement in Kentucky (PEAK), following a statewide license plate design competition launched last fall.

“Small businesses power our economy, from main street to the farm and everywhere in between,” said Gov. Beshear. “We want Kentucky to be known as an entrepreneur-friendly state, and this is just one way for us to demonstrate that message. I’m committed to helping small businesses grow and thrive in the Commonwealth. Whether it’s through our recently enacted small business tax credit program, our new minority and women-owned business enterprise certification program, or the numerous other programs and services Kentucky offers, we’re rolling out the red carpet for small businesses in Kentucky.”

The winning small business license plate design was created by Barry Arnold, lead designer for Gerald Printing, a small business with locations in Bowling Green and Russellville, Ky. Gerald Printing began business in Kentucky in 1971, and currently employs 35 people.

“We are thrilled and honored to have our design selected for the small business license plate,” said Joe Davis, president of Gerald Printing. This is a great way to start off 2011 as we prepare to celebrate our 40th year in business.”

“The Kentucky Commission on Small Business Advocacy is delighted to be a part of this initiative,” said Cathy Zion, chair of the Commission on Small Business Advocacy and a small business owner herself. “One of the goals of our commission is to raise the visibility of small businesses here in Kentucky. We envision the plates being mini-billboards promoting small business on vehicles throughout the state.”
PEAK, a statewide nonprofit organization that supports economic development through small and micro business development, will immediately begin accepting applications and payment for the specialty plate. Before production can begin, 900 applications with a $25 payment must be collected. Application forms and additional information, including a copy of the license plate design, can be found on PEAK’s website http://peakky.org/licenseplate.aspx.

“On behalf of Partners for Entrepreneurial Advancement in Kentucky, we would like to thank Governor Beshear and the Kentucky Commission on Small Business Advocacy for sponsoring and supporting the specialty small business license plate initiative,” said Tyrone Tyra, a board member of both PEAK and the Commission on Small Business Advocacy. “Small businesses play a vital role in our state’s economy and this license plate communicates that importance. We look forward to participating in this worthwhile endeavor and, with proceeds generated from the plate sales, encouraging small and micro business development throughout the Commonwealth.”

November 17, 2010

MEDIA CONTACT:
Marilyn Clark
LGUCG minority business enterprise liaison
859-258-3323

Minority and Women Construction Training Program Accepting Applications

Lexington-Fayette Urban County Government (LFUCG) is accepting applications for the Lexington Minority and Women Construction Training Program. The program kicks off January 11, 2011. Classes will be held at the Government Center, 200 East Main Street, from 5:30 to 8:30 p.m.

The ten-week program is sponsored by the Kentucky Small Business Development Center (KSBDC), the Lexington-Fayette Urban County Government, Fayette County Public Schools, and the Bluegrass Airport.

“The program is designed to help minorities and women successfully compete in the construction industry,” said Marilyn Clark, Minority Business Enterprise Liaison. “This is a serious commitment of time for the businesses who participate. Classes will meet for three hours once a week for ten weeks. We are pleased to have classes taught by Dr. Scott Arias, an Eastern Kentucky University Professor well versed in construction management as the primary instructor along with other business experts.”

Topics will include: business planning; business and contract law; insurance and surety bonds; accounting and financial management; drawings and specifications; estimating and bidding; planning and project safety; scheduling; cost management; project cash flow analysis; claims; alternative dispute resolution; administration, management and subcontracts; contracts and documentation. Boxed lunches will be served each night.

“We are specifically targeting existing businesses that understand the nuts and bolts of their craft and want the technical, managerial and entrepreneurial skills to take their business to the next level. We know from past experience, the improvement of business management skills prevents potential problems and increases the likelihood of business success,” said Dee Dee Harbut, director for special programs at the Kentucky Small Business Development Center.

Applications will be sent to women and minority-owned businesses listed in data bases maintained by the LFUCG, the Bluegrass Airport, Fayette County Public Schools and the Small Business Development Center as well as other agencies that work with small business development. Applications can also be obtained on the government’s website.

“The deadline for submitting an application is December 10. The minimal cost to each participant chosen for the program is $50, Clark said. The class is open to a maximum of 15 companies.”

For more information, email or call Marilyn Clark, 859-258-3320 or Dee Dee Harbut, 859-257-7668.