2021 Consult Economic Development for Resilience and Recovery Grants
- Author: Jeffrey Simmons
- Posted: 2024-08-19
Inclusion and Accessibility
If you can write an executable business plan, you can write an executable grant application. Additional paycheck protection funds are available through federal, state, and local channels. Inclusion and accessibility to the paycheck protection plan (PPP) and recovery grant funds is education and preparation.
Analyze Your Successes and Failures
Analyze your business and focus entirely on your highest producing activities. Evaluate the effect of liquidating no longer effective aspects of your enterprise and consider reorganizing. U.S. Bankruptcy Court CARES Act modifications remain in effect through the end of March 2021. Proof of financial hardship due to the COVID-19 pandemic is the only requirement for filing for bankruptcy during the first quarter of 2021.
Payroll Protection Program
Those who received payroll protection funds demonstrated years in business at the same location, well-organized financial records, ability to reopen, and a creditable financial forecast. Payroll protection program loans convert to grant funds upon successful reopening. A styling salon in a strip mall next to the supermarket is a necessary profitable service and a good investment. A struggling not essential pizza restaurant either adapted or failed and has to repay the PPP loan if the owner fails to open and stay open.
State County CARES Economic Development Funds
Our example county with $18.5 million dollars decided no residents should be without utilities and paid past due utility bills. Proactive economic development offices pitched in to help their free falling economies by collaborating to support local businesses with drive throughs, deliveries, and training. Working from a fifteen story office building with two only two occupants, it's obvious to a Washington, D.C. executive that most busineses need help to return to the office. Find out from your county or city commissioners, council, or mayor's office how emergency funds are allocated in your area.
Tax Credits for Innovation
Tax credits for innovation and research and development are being changed to allow small businesses and incorporated individuals to benefit from the extra money. Tax credit is available for employers who pay employee's student loans rather than tuition reimbursement for courses taken while employed by the company. Your economic development representatives attend state legislative sessions to attend to pending legislation and improve your state laws to benefit local businesses.
Funds for Unemployed
Federal, state, and local funds benefit the unemployed, but your local workforce development office can help you with free training for a new job. Microwave technology is a lucrative field with tremendous potential for advancement. To succeed in an interview for a totally different industry, demonstrate your willingness to work for the employer for years to come. Substantial training is costly and the employer would like you to learn fast, communicate well, solve problems, and become a productive member of his team.
Form A Nonprofit
You may benefit from forming a nonprofit if one of your business functions meets a community need. Traditionally, grant funds are awarded to nonprofits in service to the local, county, or state government. You can turn a hobby into a business enterprise, and meet needs with a saleable product. For example, recording and interpreting local history helps us "look to the past to add fresh insights and perspectives" to the present.
Your Community Foundation
Your Community Foundation awards COVID-19 emergency funds twice each month to nonprofits meeting the needs of vulnerable elderly, children in online school, low-income families, and homeless individuals. Our community foundation awards mini-grants monthly based on letters of inquiry. The Foundation responses to inquiries within a week. Your Community Foundation awards community needs and technical mini-grants to help meet the needs of the nonprofits that serve its community.
Grant funds for businesses, nonprofits, and individuals are plentiful due to the coronavirus pandemic. The second year of the pandemic brings creative restoration of essential businesses and recovery from the economic shutdown. Those of us who work from home will see another new normal, take the loss of some old favorite restaurants and stores, and enjoy new prosperity in 2021.
