upcoming webinarsgeneral concerns regarding the economy and the stock market, business owners should...
TRANSCRIPT
April 1, 2020
Upcoming WebinarsThursday April 2, @ 2pm
Join us for a webinar with AmandaDeLorme, of BioClean to discussSanitation in a Pandemic.
Join the Meeting Here
Join the Meeting Here
Thursday, April 2 @ 10am
Loans, Grants, & Fundraising: WhatNonprofits Need to Know TodayDuring this webinar, join us to learn whatevery nonprofit should be aware of as wenavigate these uncertain times.
Panelists will highlight opportunities fornonprofits to:-Apply for federal, State and local grantsand loans-Explore best practices for Boardgovernance in a virtual environment -Use The Great Give tools for fundraising -Understand HR laws at play in theCOVID 19 response environment
Friday, April 3 @ 1pm
Join us for a Q&A Discussion withSenator James Maroney on Friday at1pm. Senator Maroney will offer anupdate for businesses and answer yourquestions.
Join the Meeting Here
You COVID19 Updates
State Extends SmallBusiness Sales TaxDeadlinesConnecticut's Department of RevenueServices March 30 granted small businessesan automatic extension of filing and paymentdeadlines for state sales and room andoccupancy taxes.
Read More Here.
CBIA BizCastConnstep, Inc. president and CEO BonnieDel Conte discusses the collaboration withCBIA to support and keep manufacturersinformed during #COVID19.
Listen Here.
SBA NEW ApplicationThe (SBA) released its streamlinedapplication for the Economic Injury DisasterLoan (EIDL). With this new online portal,participants can now quickly identify whetherthey are eligible for disaster loan support. Ifyou are unsure whether your organization iseligible, it is recommended that you apply.*IF YOU APPLIED ON THE OLD SITE, YOUMUST APPLY AGAIN ON THE NEW SITE.
Members CornerThe MAC
Happy April 1st! Today is the day that TheMAC takes it all online. Because of ourgenerous donors and sponsors, we are ableto offer a slate of free exhibits,performances, and activities through the endof May.
Learn More Here.
Mojoes GymMojoes Gym is offering complimentaryworkout live videos on a daily basis at 7amand 4pm daily through their Facebook page.All videos are then accessible on Youtube foranyone that could not join live. Here are the links: Facebook: https://www.facebook.com/mojoesgymct/Youtube: https://www.youtube.com/channel/UC8AQhN7pWPX0IYueZUxbSFw
Pantochino Productions"LET'S LEARN STUFF" is Pantochino's newLive Streaming series for kids and kids of allages. Let's learn and have a laugh. Tuesday& Thursdays at 2pm! FREE on Facebook!
Aiping Tai Chi SchoolAiping Tai Chi School will be taking a freshnew approach to online live classes with afree live streaming channel we're launchinglater next week. This channel can beaccessed around the world and videos will besaved on the channel for 60 days poststream. The channel is twitch.tv/aipingtaichi.
As business owners make decisions to navigate the Coronavirus epidemic, they should bearin mind how those decisions can affect their retirement plan and plan participants. Aside fromgeneral concerns regarding the economy and the stock market, business owners should alsobe aware of other plan related issues including:
Participant anxiety – Business owners should address participant concerns about marketvolatility, the benefits of long term investing and dollar cost averaging, and plan features. Thiscan be done through planned webinars, distribution of relevant educational materials or directcontact with the plan advisor. The goal should be to mitigate participant concerns and to keepthem focused on long term savings needs.
Workforce reductions – In the event any employee layoffs or furloughs occur or are planned,employers should address the current and future status of participants. In particular, relevantissues such as vesting, payment or suspension of loans, accessing retirement assets andtaxable distributions should be considered.
Employer contributions – Any discussion of or intention to modify Employer contributionsshould be done in the context of the current plan design (Safe Harbor 401(k), Simple IRA) oris it entails a Cash Balance or Defined Benefit plan. Changes to the prescribed employercontributions can have a potentially adverse effect on compliance testing and the ability ofowners/highly compensated employees to contribute to the plan.
Is your business open? Have you modified the way you dowork? Please email [email protected] with your
photos, videos and stories so that we can share!
Milford Restaurants that are Open for Take-Out
Click Here for a Complete List of Restaurants that are Open
CT Restaurant AssociationFacebook Page
Restaurants: Encourage your team andrestaurants in the Milford area to join theConnecticut Restaurant AssociationFacebook group – as a ton of valuableinformation will be shared in this space asupdates and developments continue toroll out.
Click Here for Further Information fromCT Restaurant Association, includingthe recent letter to Governor Lamont onbehalf of CT Restaurants.
COVID19 Business Resource Center
The Small Business Owner’sGuide to the CARES Act
The CARES Act Explained
Governor Lamont and Banking Commissioner Perez announce a 90 daymortgage grace period for those impacted.
More details are located here.
The Coronavirus Aid, Relief, andEconomic Security (CARES) Actallocated $350 billion to help smallbusinesses keep workers employedamid the pandemic and economicdownturn. Known as the PaycheckProtection Program,the initiative provides 100% federallyguaranteed loans to small businesses.
Here are the questions you might beasking and what you need to know.
Click Here for a Checklist + Guide for Small Business
Most basic business coverage companies seem to be denied their claim do to "natural" or"act of god" argument. I contacted the State Department of Insurance and they said that if acompany believes their insurance coverage does indeed cover this loss of business, theyshould file a claim with the Insurance department.
Coronavirus and Business Interruption Insurance – FAQs
CTPrepares - Mobile AppDownload the CTPrepares App so you have all the important information in the palm of your
hand in the event of an emergency or loss of power.
Stay Informed
The SBA is offering low interestloans to small businesses effected
by the Corona virus epidemic. If anyof your members are effected, they
should call 1-800-659-2955 for further
Effective Immediately: DRS ExtendsFiling Deadline for Certain Annual
State Business Tax Returns
information. For the full press release click here.
Northeast Governors FromConnecticut, New York, New JerseyAnnounce Collective Measures to
Combat Spread of COVID-19
Governor Ned Lamont of Connecticut,Governor Andrew M. Cuomo of NewYork, and Governor Phil Murphy of
New Jersey today (March 16)announced a regional approach to
combatting the novel coronavirus – orCOVID-19 – throughout the tri-state
area.
Read the full press release here
DECD Defers Loan Payments onSmall Business Express
The Lamont Administration and theDepartment of Economic and
Community Development (DECD) arebeing proactive to ensure support for
businesses and their employeesfinancially hit by the pandemic. For
those with loans from the SmallBusiness Express Program:
DECD will defer Small BusinessExpress loan payments for the nextthree months to allow employers to
focus on their payrolls.
COVID19: Tips for SmallBusinesses
As Corona Virus Disease 2019(COVID19) spreads, it createsconcerns in all our communities both inrelation to staying healthy and safe, butalso in terms of how local businessesmay be impacted. We have assembleda list of tips and resources to assistyou.
Read More Here.
Environmental Cleaning andDisinfection Recommendations– Workplaces
This guidance providesrecommendations on the cleaning anddisinfection of rooms or areas of thosewith suspected or with confirmedCOVID-19 have visited. It is aimed atlimiting the survival of novelcoronavirus in key environments.These recommendations will beupdated if additional informationbecomes available.
For the full guide click here
Coronavirus Disease 2019
Unemployment Insurance
Disaster Loan Assistance
CT DOL: Unemployment Due toCoronavirus
Guidance for Businesses andEmployers
Coronavirus Tool-Kit
Crisis Management:Pandemic