Bronx Business News You Can Use

Child care providers, the NYS Child Care Stabilization Grant application is now live!

Review the eligibility requirements and complete the application today.

The $35 million Restaurant Return-to-Work Tax Credit Program provides an incentive to COVID-impacted restaurants to bring restaurant staff back-to-work, and to increase hiring at NYS restaurants. Qualifying businesses are eligible for a tax credit of $5,000 per new worker hired, up-to $50,000 per business. The Program is open to eligible restaurants located in New York City, or in an area outside of New York City that was designated an Orange or Red Zone for at least thirty consecutive days.

To be responsive to the needs of COVID-impacted restaurants, the Restaurant Return-to-Work Tax Credit provides a Fast Track Option, which allows a business to claim the credit before the end of the tax year.

Restaurants may claim the credit after August 31, 2021 (Fast Track Option), if the business can demonstrate a net employee increase of at least 1 full-time employee as measured from April 1, 2021 to August 31, 2021.

Alternatively, restaurants can choose to claim the tax credit on their 2021 NYS tax return if the business can demonstrate a net employee increase of at least 1 full-time employee as measured from April 1, 2021 to December 31, 2021.

Click Here for a helpful webinar on the $800 million small business recovery grant program, which will provide funding to small and micro businesses and small for-profit independent arts and cultural organizations to help them recover from the economic impact of the pandemic.

Mayor de Blasio announced that New York City will require proof of vaccination for people participating in indoor activities, including at restaurants, gyms and performances. The mandate also applies to workers. The program is expected to begin on August 16, with “inspections and enforcement” beginning on September 13 to coincide with the reopening of schools. Final details will be available the week of August 16.

As part of the new program, New York City will create a health pass called the “Key to NYC Pass” to provide proof of vaccination required for workers and customers at indoor dining, gyms, entertainment and performances.

The State recently amended the Alcohol Beverage Control Law, allowing New York State Liquor Authority (SLA) licensees participating in the Open Restaurants Program to continue serving alcohol on City property for an additional year. The SLA recently issued important guidelines that require SLA-licensees that are participants in the Open Restaurants Program to take action.

The U.S. Small Business Administration (SBA) announced that it will launch a streamlined Paycheck Protection Program (PPP) forgiveness application portal on August 4 to allow borrowers with PPP loans of $150,000 or less to apply for forgiveness directly through the SBA.

The new streamlined PPP application portal will accept applications from borrowers that have a PPP loan with a participating lender that opted into the forgiveness portal, simplifying forgiveness for millions of small businesses.

PPP borrowers can check out the Direct Forgiveness Portal User Guide for detailed instructions or attend an SBA-sponsored training session on the new SBA Direct Forgiveness Portal – click here for upcoming dates.

The SBA is also standing up a PPP customer service team to directly assist borrowers with their forgiveness applications. Borrowers needing assistance can call 1-877-552-2692, Monday – Friday, 8 a.m. to 8 p.m. ET. or meet with a Pace SBDC Business Advisor.

NYC has launched NYC Business Quick Start, a concierge service for small businesses that provides sole point of contact to help navigate City regulations, as well as a public dashboard. The program guarantees a 48-hour response to all small business inquiries and will cut processing time by 50 percent.

The new program will help you:

Join the Chamber for our first in-person networking event in over a year! We are so excited to be able to host this lovely event at the Residence Inn by Marriott in the Bronx.

The event is free for our members (plus 1 guest) and $20 for non-members and additional guests. The night will include one free drink, cash bar, and light appetizers!

RSVP at bronxchamber.org

Op-ed: Lawmakers must consider small businesses, local communities when crafting tech policy

The Bronx Chamber of Commerce is proud to be a part of the NYC Small Business Resource Network — a city-wide initiative to bring technical assistance and business recovery support to NYC small businesses.

At no cost to you, the NYC Small Business Resource Network can assist in technology, real estate, legal and accounting services, procurement opportunities, marketing, loans and grants, and more. Our on-the-ground Small Business Support Specialists will help guide you to the resources you need.