Roanoke Taxes in Business Workshop: Learn the What, When & Why<br />August 4, 2010<br />
Business  Resources in Virginia<br />Sandy Ratliff, Business Services Manager<br />Virginia Department of Business Assista...
Small Business in Virginia<br /><ul><li>Small Businesses constitute 97% of all Virginia businesses.
Small Businesses create over 60-80% of all new jobs.  
Small Businesses account for half of the Commonwealth of Virginia’s contribution to the U.S. Gross Domestic Product - a wh...
Virginia is for Business Lovers<br />Virginia ranked #1 state for business by Forbes.com last four years.<br />Ranked #1 m...
The Virginia Department of Business Assistance<br />VDBA supports economic development in the Commonwealth by working with...
Business Information Services<br />To help businesses get started and to grow.<br />Formation Assistance <br /><ul><li> Vi...
Bridges the 26 state agencies, over 110 regulatory programs and over 300 forms that may touch a Virginia business
Virginia Central Business Portal (www.business.virginia.gov)
Covers registration, taxation, licensing
Interactive business plan available online at www.vdba.virginia.gov or www.vastartup.org
5 Step process to a business plan</li></li></ul><li>Growing Your $ales - State<br /><ul><li>Governor’s Executive Order 33
$5 billion market - State
Access to buyers from 171 state agencies
Additional $5 billion from local governments
575 localities using eVA system.
Small Business Goal – 40%
Over 41,490 registered suppliers
Over 13,065 participating buyers</li></ul>Ask VBIC = 866-248-8814<br />
Examples of Purchasing:<br />Instant Ice Tea<br />01/01/2009 – 12/31/2009 = $23,455.71 - 46 PO’s<br />Novelty – Specialty ...
One–on-One Counseling Sessions<br />Need Based:<br />Accessing New Markets/Sales Growth<br />Tailored Sales Development So...
Entrepreneur Workshops<br /><ul><li>Entrepreneur Express – Targeted to start-up and existing business owners.
Social Media Workshops – Why and how to connect for business.
Upcoming Events =
August 5 – Vinton Chamber
August 12 – Clifton Forge
October 8 - Roanoke
Adventure Tourism Workshops – October 19, Daleville, VA
Details and registration info available at www.vastartup.org</li></li></ul><li>Virginia JobsInvestment Program<br /><ul><l...
Create minimum 25 net new jobs within 12 months and capital investment of at least $1,000,000
Minimum entry-level wage of $10.00/hr required.  Only full-time jobs are eligible.
Small business workforce recruiting and training
250 employees or less, hiring at least 5 new full time employees within 12 months of operation and capital investment of a...
Minimum entry-level wage of $10.00/hr required.  Only full-time jobs are eligible.
Retraining
Small businesses that are retooling and installing new technologies
Company must retrain minimum 10 full-time employees. </li></li></ul><li>Financing Programs<br />6 different direct and ind...
The VSBFA ……<br /><ul><li>Not below market rates
Not a grant- analyze cash flow and collateral </li></ul>VSBFA can help you grow by extending you credit<br />Scott Parson-...
“If you always do what you’ve always done, You will always get what you’ve always got!”<br />
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Roanoke Taxes in Business Workshop Resource Presentation, August 4, 2010

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The City of Roanoke will co-sponsor the event "Taxes in Business Workshop: Learn the What, When and Why." The workshop was targeted to business owners to help participants understand local and state tax responsibilities. Presenters outlined various business tax requirements and their purpose, the impact of delinquent taxes on a business, and basic business principals to help manage a business more efficiently. Participants also had a chance to meet one-on-one with tax and business advisers. Sandy Ratliff with the Virginia Department of Business Assistance outlined the resources available to small business owners within Virginia.

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Roanoke Taxes in Business Workshop Resource Presentation, August 4, 2010

  1. 1. Roanoke Taxes in Business Workshop: Learn the What, When & Why<br />August 4, 2010<br />
  2. 2. Business Resources in Virginia<br />Sandy Ratliff, Business Services Manager<br />Virginia Department of Business Assistance<br />276-676-3768<br />sandy.ratliff@vdba.virginia.gov<br />www.vdba.virginia.gov<br />www.vastartup.org<br />
  3. 3. Small Business in Virginia<br /><ul><li>Small Businesses constitute 97% of all Virginia businesses.
  4. 4. Small Businesses create over 60-80% of all new jobs.  
  5. 5. Small Businesses account for half of the Commonwealth of Virginia’s contribution to the U.S. Gross Domestic Product - a whopping $160 billion. </li></ul>Virginia is for Business Lovers<br />
  6. 6. Virginia is for Business Lovers<br />Virginia ranked #1 state for business by Forbes.com last four years.<br />Ranked #1 most business friendly state by Pollina Corporate Real Estate, Inc. last two years.<br />Named #1 best states for business by CNBC.<br />Virginia among top 10 list of states friendly to small business.<br />
  7. 7. The Virginia Department of Business Assistance<br />VDBA supports economic development in the Commonwealth by working with new and existing businesses to provide business and economic development communities with:<br />workforce incentives<br />financing<br />business information and counseling<br />state procurement assistance<br />educational opportunities <br />www.vdba.virginia.gov<br />
  8. 8. Business Information Services<br />To help businesses get started and to grow.<br />Formation Assistance <br /><ul><li> Virginia Business Information Center (VBIC) 1-866-248-8814
  9. 9. Bridges the 26 state agencies, over 110 regulatory programs and over 300 forms that may touch a Virginia business
  10. 10. Virginia Central Business Portal (www.business.virginia.gov)
  11. 11. Covers registration, taxation, licensing
  12. 12. Interactive business plan available online at www.vdba.virginia.gov or www.vastartup.org
  13. 13. 5 Step process to a business plan</li></li></ul><li>Growing Your $ales - State<br /><ul><li>Governor’s Executive Order 33
  14. 14. $5 billion market - State
  15. 15. Access to buyers from 171 state agencies
  16. 16. Additional $5 billion from local governments
  17. 17. 575 localities using eVA system.
  18. 18. Small Business Goal – 40%
  19. 19. Over 41,490 registered suppliers
  20. 20. Over 13,065 participating buyers</li></ul>Ask VBIC = 866-248-8814<br />
  21. 21. Examples of Purchasing:<br />Instant Ice Tea<br />01/01/2009 – 12/31/2009 = $23,455.71 - 46 PO’s<br />Novelty – Specialty Advertising Products<br />01/01/2009 – 12/31/2009 = $152,905.34 - 152 PO’s<br />Grounds Maintenance: Mowing, Edging, Plant (Not Tree) Trimming, etc. <br />01/01/2009 – 12/31/2009 = $14,566,567.94 - 1150 PO’s<br />Tires and Tubes, Passenger Vehicles<br />01/01/2009 – 12/31/2009 = $72,103.64 - 7 PO’s<br />Concessions, Catering, Vending: Mobile and Stationary<br />01/01/2009 – 12/31/2009 = $6,187,712.31- 11,757 PO’s<br />Building Maintenance<br />01/01/2009 – 12/31/2009 = $90,611,650.85 - 9285 PO’s<br />Earth Moving Equipment Rental<br />01/01/2009 – 12/31/2009 = $8,573,333.24 -621 PO’s<br />Cleaning Services, Steam & Pressure<br />01/01/2009 – 12/31/2009 = $3,358,694.55- 303 PO’s<br />
  22. 22. One–on-One Counseling Sessions<br />Need Based:<br />Accessing New Markets/Sales Growth<br />Tailored Sales Development Solutions<br />Financing Resources<br />Social Media for Your Business<br />To schedule an appointment, contact:<br />Sandy Ratliff, Business Services Manager<br />276-676-3768<br />Email: sandy.ratliff@vdba.virginia.gov<br />Upcoming Sessions:<br />August 31 – Vinton Chamber of Commerce<br />September 30 – Roanoke County Administration<br />December 1 – Roanoke County Administration<br />
  23. 23. Entrepreneur Workshops<br /><ul><li>Entrepreneur Express – Targeted to start-up and existing business owners.
  24. 24. Social Media Workshops – Why and how to connect for business.
  25. 25. Upcoming Events =
  26. 26. August 5 – Vinton Chamber
  27. 27. August 12 – Clifton Forge
  28. 28. October 8 - Roanoke
  29. 29. Adventure Tourism Workshops – October 19, Daleville, VA
  30. 30. Details and registration info available at www.vastartup.org</li></li></ul><li>Virginia JobsInvestment Program<br /><ul><li>Workforce recruiting and training
  31. 31. Create minimum 25 net new jobs within 12 months and capital investment of at least $1,000,000
  32. 32. Minimum entry-level wage of $10.00/hr required. Only full-time jobs are eligible.
  33. 33. Small business workforce recruiting and training
  34. 34. 250 employees or less, hiring at least 5 new full time employees within 12 months of operation and capital investment of at least $100,000
  35. 35. Minimum entry-level wage of $10.00/hr required. Only full-time jobs are eligible.
  36. 36. Retraining
  37. 37. Small businesses that are retooling and installing new technologies
  38. 38. Company must retrain minimum 10 full-time employees. </li></li></ul><li>Financing Programs<br />6 different direct and indirect loan programs<br />Economic Development Loan fund, Private Activity bonds, loan guaranty program, Capital Access program, Child Care Financing program, Minority loan program<br />Generally, you access these programs through your local bank- BB&T, Cardinal, M&T, Adams, Business Bank & Va Commerce<br />
  39. 39. The VSBFA ……<br /><ul><li>Not below market rates
  40. 40. Not a grant- analyze cash flow and collateral </li></ul>VSBFA can help you grow by extending you credit<br />Scott Parson- VSBFA Director, 804-371-8256<br />
  41. 41. “If you always do what you’ve always done, You will always get what you’ve always got!”<br />
  42. 42. Lets Connect:<br />Sandy Ratliff<br />The Virginia Department of Business Assistance<br />276-676-3768<br />sandy.ratliff@vdba.virginia.gov<br />Online:<br />Twitter: http://twitter.com/sandyratliffFacebook: http://www.facebook.com/sandy.ratliff<br />LinkedIn - http://www.linkedin.com/in/sandyratliff<br />
  43. 43. ??QUESTIONS??<br />

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