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The Zions Business Resource Center is pleased to publish this weekly e-mail newsletter as a service to small business owners and employees. Its purpose is to assist you in starting or expanding your small business. Links to third-party Web sites provided throughout this newsletter are not owned or controlled by the Zions Business Resource Center or Zions Bank. Click here to SUBSCRIBE. To be removed from our e-mail list click UNSUBSCRIBE. Visit us on the Web at the Zions Bank Business Resource Center.

Zions Bank Business Resource Center

From the Director

Sunrise Seminars

Hello again,

Valentine’s Day has left us with a sugar low and beautiful roses. I wish the roses Cece Mitchell, Vice President and Directorlasted longer and the sugar didn’t!

This week we are highlighting the services of the Zions Business Resource Center. Specifically, our monthly Sunrise Seminars. The seminars are held monthly on the fourth Thursday at the BRC, 310 S. Main, Salt Lake City. They are FREE of charge, so bring a friend.

Luz Robles, our BRC Director has designed the seminars based on the information you have requested. We have scheduled topic experts to deliver the presentations and made arrangements for a continental breakfast for networking.

Next week’s seminar focuses on sharpening your skills in obtaining contracts from larger companies and government agencies. It’s a primer on procurement that every business should attend.

While you are here, make sure to spend time in the BRC visiting with Josh, Luz and Jeanne. Explore our computer lab and business plan software, or browse our resource library. If you have time, set up an appointment with Josh or Luz for an assessment of how we can help you start or grow your business. SCORE representatives are also located in the BRC, and their talents have helped many businesses.

Read on for all the details of our next Sunrise Seminar.


Zions Bank Vice President
 

The Economy

Tea Leaf Report

Utah economist Jeff Thredgold says, "Wouldn't it be nice if...
…extremely tight U.S. labor markets in coming years would boost real (inflation adjusted) earnings of millions of American workers.  Note: it will happen." Read more...

Hint of recession? Utah unemployment low, but job growth engine cools

Just one year ago, talk of "recession" in Utah would have been laughable. But not anymore. A report Tuesday from the Utah Department of Workforce Services shows that job growth has slipped to 2.8 percent, which in the mind of one of the state's top economists raises the specter of a downturn so pronounced and widespread that a fairly large share of the state's residents and businesses would feel it. (SL Tribune) (Daily Herald) (KCPW)

IRS Will Send Stimulus Payments Automatically Starting in May

A press release from the IRS says in most cases taxpayers will not have to do anything extra this year to receive the economic stimulus payments, which will begin in May.

“If you are eligible for a payment, all you have to do is file a 2007 tax return and the IRS will do the rest,” says Acting IRS Commissioner Linda Stiff. The IRS will use information on the 2007 tax return filed by the taxpayer to determine eligibility and calculate the amount of the stimulus payments.

The IRS will begin sending taxpayers their payments in early May after the current tax season concludes. Payments to more than 130 million taxpayers will continue over several weeks during the spring and summer.

Small Biz  Partners & Resources

- SCORE -- Provides counseling to small businesses

- Ogden SCORE - E-mail
ogdenscore158@aol.com

- Salt Lake SCORE - Chapter 0049
310 South Main St., N. Mezzanine, Salt Lake City. Phone: (801) 746-2269; Fax: (801) 746-2273; e-mail: mallen@slcscore.com

- Wayne Brown Institute -- Runs the oldest and most successful non-profit venture accelerator program in the country, helping technical entrepreneurs from every social economic level raise money for their businesses.

- Small Business Development Centers
-- Provides counseling and training to small businesses.

- Small Business Administration -- Provides information about small business (Click here for Utah SBA)

- Utah Micro Enterprise Loan Fund -- Provides counseling and funding for small business

- The Pete Suazo Business Center -- Provides counseling and training for Hispanic/Latino business

- Utah Business.gov -- Provides online access to Utah Government services; one stop shop business registrations

- Export.gov -- Provides information on how to export your product.

Feature

How Small Businesses Can Get Contracts with Large Companies and Government Agencies

Attention small Utah businesses: the University of Utah would like to do business with you! That topic, along with many other aspects of small businesses contracting with large corporations and government entities, will be the focus of discussion during the February 28 Sunrise Seminar at the Zions Bank Business Resource Center.

This seminar is a “can’t miss” opportunity for small businesses to learn how to contract with large corporations and government agencies. Presenter Randi Ruff, manager of purchasing and small business liaison at the U., says she’ll teach seminar participants how to navigate the university’s procurement process and highlight the many contracting opportunities available for small businesses.

Resources Available

Ruff will also focus on the resources available to small businesses, including help from the Small Business Administration, Zions Business Resource Center, the Utah Microenterprise Loan Fund, and the procurement symposium held annually by the Governor’s Office of Economic Development Procurement Technical Assistance Center (PTAC).

“My job as small business liaison is to help the university reach its contracting goals,” Ruff says. “Our federally funded research grants have small business procurement requirements, especially regarding the use of women-owned, minority-owned, veteran-owned, service disabled veteran-owned, and hub zone small businesses (historically under-utilized business zones), and other small business classifications.”

Ruff says she will use the university as an example of the opportunities available and explain why small businesses are so important to the U.’s mission. What’s more, she says there are a lot of government agencies that have the same small business contracting goals, which she will highlight.

Contracting Goals

“I try my best effort to spend 26 percent of the federal funds we receive with small businesses, five percent with women-owned businesses, and three percent with hub zone businesses—and most other corporations that receive federal funds have similar small business contracting goals.”

The U. has more than $25 million in ongoing federal funding contracts and continues to get more, so spending 26 percent with small Utah businesses is a lot of money. “As a small business liaison I try everything I can to introduce as many university departments to small business service providers. It’s good businesses for the university, it’s good for the small businesses, and it’s good for the state’s economy,” Ruff says.

Contracting requirements at the U. allow individual departments to spend up to $5,000 without going through purchasing, according to Ruff, while any purchases between $5,000 and $50,000 must go through purchasing.

'Just Like a Small City Up Here'

“We are just like a small city up here,” she adds. “We purchase everything from janitorial supplies to catering, to very technical services and supplies, and many large corporations do, too.”

Ruff also serves as chair of the Utah Supplier Development Council, so she is well connected to purchasers at many large corporations from all across the state. She says the council matches up purchasers from large corporations and government agencies with women-owned, minority owned, and veteran-owned Utah small businesses.

The council holds monthly meetings where small businesses can meet face to face with purchasing agents. Such face to face opportunities may not be available otherwise, she says. Interested small businesses should contact Ruff to get on the council’s calendar.

Bottomline: the opportunities are in place and the mechanisms are available for small businesses. “We just need them to come forward and apply. We want to do as much business as we can with small businesses and our federal contracting goals are only a portion of what we spend,” Ruff says.

Seminar Details

When: Thursday, February 28, from 8:00 – 9:30 a.m.
Presenter: Randi Ruff, manager of purchasing and small business liaison for the University of Utah
Topic: Small Businesses and Contracts with Large Companies and Government Entities
Where: Zions Business Resource Center, 310 South Main Street – Mezzanine South, Salt Lake City
To R.S.V.P. for this FREE seminar, call 594-8245 by Wednesday, February 27. Refreshments served. Parking validation available.
 
Productivity Tip:
Work Longer Hours Early
in the Week

Source: E-Myth
If you are going to work longer hours, do it earlier in the week. "Get a jump on the work week by putting in extra effort on Monday and Tuesday. You will power through Wednesday and cruise toward the weekend with energy and time to spare."

Marketing Tip:
Small Business Marketing

Need help marketing your business? The Duct Tape Marketing blog is filled with great ideas from several marketing experts. Forbes.com included the site in its Best of the Web directory.

HR Corner

Managing Workload Crunches

Source: The Employers Council
Rush orders, contract deadlines or late arriving raw materials are among the reasons that cause businesses to work employees longer than normal hours. If properly managed, these workload crunches can satisfy the customer while preserving employee morale. If poorly managed, customer relations, productivity and employee morale can suffer. Read more...
 

Zions Bank is the leader is SBA loans.

Calendar of Events

  • Feb. 16 - Start Smart Business Start-up Seminar, 10:00am – 12:00pm, Ogden Business Information Center (BIC), 2444 Washington Blvd. Cost: Free. Please pre-register at (801) 626-7232 or to bking1@weber.edu. www.weber.edu/sbdc
  • FEB. 20 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801)746-2269
  • Feb. 21 - International Trade Finance Seminar, 8:30-11:30 am, Salt Lake Chamber of Commerce. Expand your exporting savvy and competitiveness by learning about the various means of financing your export transactions available to you as an U.S. exporter! Come attend this seminar to learn all you need to know about the various public sector organizations that can help Utah companies with their export financing needs (e.g. working capital, credit insurance on open account sales, political risk insurance, special loans for exporting companies, etc.). Speakers include international trade finance experts from the Small Business Administration and the Export-Import Bank and also a representative from a company that has had great success utilizing export finance resources. Click here register and for more information.
  • Feb. 21 through May 1 - FastTrac TechVenture, an eleven week program designed for entrepreneurs in the fields of technology or life sciences. Location: Salt Lake Community College, Larry H. Miller Campus, Thursdays from 6:00 PM to 9:00 PM. To Register: call (801) 957-4654 or e-mail slsbdc@slcc.edu.
  • Mar. 19 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • April 7-8 - Asia Pacific Business Outlook (APBO) Conference, University of Southern California. Early Registration: $775 (until March 10). Regular Registration: $925 (after March 10). USDOC Registration Code: DOC2008. Please be sure to include this code when registering.
  • Apr. 16 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Apr. 16 - SCORE “How To Form A LLC” Workshop, 5:30 P.M. to 8:00 P.M., Offices of Parsons Kinghorn Harris, 111 East Broadway, SLC. For more information call (801)746-2269.
  • April 23-24 - Salt Lake Chamber Business to Business Expo, Salt Palace Convention Center, Salt Lake City. More information.
  • May 21 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Jun. 18 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Jul. 16 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Jul. 16 - SCORE “How To Form A LLC” Workshop, 5:30 P.M. to 8:00 P.M., Offices of Parsons Kinghorn Harris, 111 East Broadway, SLC. For more information call (801) 746-2269.
  • Aug. 20 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Sep. 17 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Oct. 15 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Oct. 15 - SCORE “How To Form A LLC” Workshop, 5:30 P.M. to 8:00 P.M., Offices of Parsons Kinghorn Harris, 111 East Broadway, SLC. For more information call (801) 746-2269.
  • Nov. 19 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.
  • Dec. 17 - SCORE “How to Start and Operate A New Business" Workshop, 8:30 A.M. - 4:30 P.M., Salt Lake County Building Complex, 2001 South State Street, SLC, North Building Room 4010. For more information call (801) 746-2269.


Salt Lake Chamber Events ♦ Ogden Weber Chamber Events ♦ SL County Upgrade.org Calendar

Privacy Policy

Your privacy is important at Zions Bank. Please see our Privacy Policy for details. Questions or comments? e-mail resources@zionsbank.com or contact the Zions Business Resource Center, Monday – Friday from 8 a.m. to 5 p.m. Phone: 801-594-8245. For general customer service inquires about bank products, please call 1-800-789-8800.  Member FDIC.