West Virginia Manufacturers Association

1. Establishes a Small Business Health Care Tax Credit to Help Small Businesses Afford the Cost of Covering Their Workers.
Status Quo: Small businesses face high costs in providing health insurance to their employees and small businesses face higher costs and few incentives to offer health insurance coverage to employees.
Solution: A new tax credit takes effect immediately to help cover premiums small businesses pay. The Small Business Health Care Tax Credit can cover up to 35 percent of the premiums a small business pays to cover its workers. In 2014, the rate will increase to 50 percent. See the IRS postcard for more info.

2. Creates Health Insurance Exchanges to Increase Bargaining Power & Reduce Administrative Costs
Status Quo: Small businesses have little bargaining power and face high administrative costs. Currently, small businesses face not only premiums that are 18 percent higher than large businesses pay, but also face higher administrative costs to set up and maintain a health plan. The premiums they pay have three to four times as much administrative cost built into them as plans in the large group market. They are also at a disadvantage in negotiating with insurance companies because they lack bargaining power.
Solution: Health Insurance Exchanges will provide more choice, lower prices, and greater bargaining power for firms with up to 100 employees. Health reform will change this dynamic. Starting by 2014, firms with 100 or fewer workers will be able to pool their buying power and reduce administrative costs by purchasing insurance through an exchange. According to CBO, coverage that small businesses pur- chased through an exchange “would have lower administrative costs, on average, than the policies those firms would buy under current law, particularly for very small firms.”

Business Loans—No Hype, Just the Facts - September 16
Need financing for your business? Come to this free business clinic and discover the basics of commercial lending and federal business loan guaranties. Location: 4th Floor Conference Room, 405 Capitol Street in Charleston at 5:30 p.m.

LLC v. S-Corporation: Which is Right for You? - September 21
Determining which legal structure is right for your new business can be confusing. CPA Larry Ickes will explain the difference between legal structures, clarify the advantages and disadvantages of each, and explain how each impacts your business during this free webinar from Noon to 1:00 p.m.

Marketing to Federal Agencies - September 23
Enhance your chances of attracting opportunities in the competitive world of government contracting. This webinar will cover identifying those agencies that need your product or service, how to locate the right person, and how to present yourself at this free webinar from Noon to 1:00 p.m.

Need funding to grow your business? Looking for capital to start a business? Just need help making ends meet in today’s economy?

Small businesses have been struggling with financial issues since the onset of the economic recession. To help address these small business concerns, representatives from lending institutions, federal and state agencies, and technical resource partners will be available to meet one-on-one with current and potential entrepreneurs to discuss financing and other small business issues. A loan packaging seminar will also be held during the event that will provide step-by-step guidance on what it takes to obtain small business financing.

This free one-day event will be held Monday, September 27 at the West Virginia State Training Center Capitol Room located at 1900 Kanawha Boulevard East, State Capitol Complex, Building 6, in Charleston. Two sessions will be held during the day, from 9:00 a.m. to 1:00 p.m. and from 2:00 p.m. until 6:00 p.m. You are welcome to attend one or both of the sessions. There is no charge for attending but pre-registration is required. To register for the
event, contact Karen at (304) 253-3145 or via email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

A list of participating resource partners and lenders will be posted on our web site at www.sba.gov/wv. Simply select the Lender/Borrower Matchmaking link on the main page.

September will be a very busy month for SBA and the West Virginia small business community. On Tuesday, September 14 we are joining our resource partner network to host a Veterans Business Summit in Fairmont. This free event will provide attendees with resources and training on financing, government contracting, strategic business planning, legal structures, how to find free small business resources, and more. The federal government is constantly seeking veteran-owned businesses to fulfill their numerous contracting opportunities. Government contracting is an excellent way to expand a small business, especially during the current economic conditions facing our entrepreneurs. If you are a veteran-owned small business, don’t pass up this opportunity to learn first-hand from the experts on government contracting, financing and other small business topics. See Veterans Business Summit for additional information.

Monday, September 27 is our Lender Matchmaking event. The event will feature representatives throughout the state who will meet one-on-one with small business owners and nascent entrepreneurs to discuss financing. This is an excellent opportunity for business owners to discuss financing needs with West Virginia’s top lenders, learn about lending requirements, and have access to SBA’s partner network. The event is free and is being held at the State Capitol Complex in Charleston. More details can be found on page two.

In closing, I hope you will be able to join us and take advantage of the many opportunities offered at these events.

Judy K. McCauley
District Director
West Virginia District Office