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On the Economic Scene

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June 14, 2021

COVID-19 Business Resource Center: VolusiaBusinessResources.com

WORKFORCE UPDATES

LEGISLATION CREATES NEW 401K PLAN OPTION FOR SMALL BUSINESS
In late 2019 Congress passed the SECURE Act, which included provisions for pension plan providers to “pool” small unrelated businesses into a single 401K plan to improve access and administrative costs. Adding a more affordable 401K plan to your benefits package may be what’s needed to attract talent in today’s competitive hiring market. Learn more about Pooled Employer 401K Plans in an upcoming GrowFL Zoom webinar at 9 a.m. June 24.

DAYTONA STATE COLLEGE OFFERS CNC MILLING PROGRAM

Daytona State College is offering a course in Computer Numerical Control (CNC) programming of CNC Milling Machines that will provide students with the knowledge and skills necessary to be employed in the manufacturing industry. The course provides hands-on training on how to set-up and operate a CNC Vertical Milling machine. Classes will be held from 4 to 9:50 p.m. Monday through Friday from June 21 through Aug. 2 at the Advanced Technology College. If you, or someone you know, have been negatively affected by the COVID-19 pandemic and, as a result, are either unemployed, furloughed, or underemployed, you may be eligible for this course at no cost. See if you qualify and reserve your seat.

WEBINARS, WORKSHOPS & FORUMS

SCORE WEBINAR: SMALL BUSINESS RECOVERY GUIDE

Many small business owners are experiencing times like never before. You’ll have to take another look at short-term fixes you’ve put in place and decide how to adjust them for the long term. And that all needs to happen quickly while you keep the doors open and the operations going. Your path to recovery will require creativity, flexibility and perseverance. To help you get started, this workshop will cover the Small Business Owner’s Guide to Navigating the Recovery. Hosted by SCORE Volusia/Flagler chapter, the live Zoom event will take place at noon June 22. Registration is required.

MAKEMORE MANUFACTURING SUMMIT: BUSINESS GROWTH SEGMENT

Manufacturing in Florida had over 21,000 establishments in the second quarter of 2020, and 384,000 jobs were reported by December of the same year. Manufacturing accounted for 4.5% of Florida’s GSP by January 2021. Understanding the existing business landscape manufacturers are dealing with will be essential for Florida to continue diversifying the economy to remain a global competitor. The Business Growth Segment of the MakeMore Manufacturing Summit will discuss what the current state of the manufacturing ecosystem looks like; the challenges, strategies and opportunities manufacturers are facing around workforce; growth capital; supply chains; and emerging markets. The segment will be held from 8 to 11 a.m. June 22 and 23. Register to attend.

STARTUP GRIND EVENT: THE INTERGENERATIONAL ECONOMY
The Ormond Beach chapter of Startup Grind will host an in-person event at 5 p.m. June 23 at the Ormond Beach Performing Arts Center with guest speaker Dillon Knight Kalkhurst. The Ormond Beach entrepreneur will share his experience as the founder of the Center for Intergenerational Engagement and VP Strategic Partnerships and Business Development for Memberhub.com, a first of its kind social impact marketplace benefiting K-12 nonprofits. He will distill two decades of helping Fortune 500 companies, school districts and national nonprofits engage multi-generational families to help bridge the generational communication divide. Registration is required.

HOUSING & REAL ESTATE

DELTONA-DAYTONA-ORMOND MARKET INDEXED IN REAL ESTATE TRENDS REPORT
The Emerging Trends in Real Estate® 2021 report, undertaken jointly by PwC and the Urban Land Institute, highlights the evolving trends shaping the real estate industry. The report explores how COVID-19 accelerated many existing trends like retail footprint reductions, while it spawned new ones such as an increased focus on social justice and health and wellness, and stopped others in their tracks like the appeal of big cities. Deltona-Daytona-Ormond MSA was indexed in both overall real estate as well as homebuilding prospects in the 80 U.S. markets to watch. Read the full report.

BUSINESS NEWS

FREE BUSINESS LEARNING RESOURCES WITH YOUR LIBRARY CARD
Whether you’re seeking ways to grow a business or start a new one, invaluable knowledge that can help you succeed is only a library card away. The Volusia County Public Library provides card holders free web access to valuable courses and programs that are produced by respected business thought leaders and institutions. Explore the catalog and start using these free programs to gain critical insights and skill when it fits your schedule. Request your library card today and check out the LinkedIn Learning courses for business and entrepreneurship.

INDUSTRY UPDATES

HOTEL INDUSTRY EMERGES FROM PANDEMIC WITH NEW BUSINESS MODEL
Since the COVID-19 pandemic, the hardest hit industries have been evaluating the best methods of survival to include adjusted business and operational models. The hotel and hospitality industry is making permanent changes that will increase productivity, customer experience and aid their economic rebound. The leadership of large hotel brands have increasingly touted savings and increased efficiency from reducing labor costs on services since the economy began to recover last year. Read how they are making that happen.

IN CASE YOU MISSED IT

VIDEO PLAYBACK:  EMPLOYEE MENTAL WELLNESS PANEL DISCUSSION
Volusia County local business leaders and agency representatives discussed employee mental wellness and the challenges employers and employees face in a post-COVID workplace. In case you missed it, watch the event on demand.

TAKE 2 TO ANSWER 1 QUICK QUESTION

Behavorial health (BH) awareness has become more prevalent in the workplace due to the COVID-19 pandemic.

What steps or actions has your business taken or will take to address BH concerns?

Answer here

HURRICANE PREPAREDNESS FOR BUSINESS

Hurricane season officially starts June 1 and planning ahead for a disaster can save business owners thousands of dollars in lost revenue due to structural damage, content damage, interruption of operations and employee displacement.

Did you know that 40% of businesses never re-open their doors post-disaster? We encourage all business owners to prepare their business for the season with the Volusia Prepares Business program checklist.

PLAN AND PREPARE YOUR BUSINESS

Protect and prepare your business with a Business Disaster Continuity Plan

  • Review property insurance to determine if you have adequate hazard, flood, wind and business interruption insurance
  • Video and photo document your property, vehicles and inventory before and after the disaster to assist with verifying insurance and tax credit claims
  • Determine what emergency equipment and supplies are needed to protect and repair your business
  • Protect computers and backup your files. Store backup files in an alternate location
  • Assemble insurance policies, financial records, inventories, and other important documents. Make duplicates and store in alternate safe places
  • Move files and equipment to higher elevations
  • Shutter windows, sandbag doors, and cover sensitive equipment
  • Have a generator ready as a backup until power is restored
  • Encourage your employees to create a family emergency plan - the sooner they take care of their personal preparations, the quicker they can help prepare your business
  • Create a Crisis Communication plan to communicate with customers, suppliers and employees
  • Develop an employee alert roster to notify employees during nonworking hours the status of business operations
  • Protect employees and only schedule essential personnel during the storm
  • Arrange alternate payroll methods for your employees with your banking institution after the disaster
  • Retain a list of emergency support phone numbers for various needs and distribute to your employees
  • Know the community’s evacuation plan and evacuation routes
  • Update your plan quarterly and be sure all existing employees and new hires understand the plan

BOOKMARK, DOWNLOAD, REGISTER, FOLLOW, CONTACT

BOOKMARK

DOWNLOAD

REGISTER

  • CodeRED – register to be notified by your local emergency response team in the event of emergency situations or critical community alerts.

FOLLOW

CONTACT

  • Citizens Information Center (activated only during disasters) – Retain this phone number, 1-866-345-0345, for shelter information, sand bag locations, and other disaster updates; Telecommunication Device for the Deaf 386-248-1792

NEWS ITEMS WANTED! Please send your business news items to Heather Edwards

2021

June 14, 2021
June 8, 2021
June 2, 2021
May 24, 2021
May 19, 2021
May 10, 2021
May 3, 2021
April 26, 2021
April 20, 2021
April 12, 2021
April 5, 2021
March 30, 2021
March 22, 2021

March 16, 2021
March 10, 2021
March 1, 2021
February 22, 2021
February 16, 2021
February 9, 2021
February 1, 2021
January 26, 2021
January 19, 2021
January 11, 2021
January 5, 2021

2020

December 29, 2020
December 16, 2020
December 9, 2020 
December 2, 2020
November 24, 2020
November 18, 2020
November 10, 2020
November 2, 2020
October 26, 2020
October 12, 2020

October 5, 2020
September 23, 2020
September 15, 2020
September 8, 2020
September 3, 2020
August 17, 2020
August 8, 2020
July 17, 2020
June 30, 2020
June 23, 2020
May 26, 2020
May 18, 2020
May 11, 2020
May 4, 2020
April 27, 2020
April 20, 2020
April 13, 2020
April 6, 2020
March 30, 2020
March 16, 2020

March 9, 2020
March 2, 2020
February 24, 2020
February 17, 2020
February 10, 2020
Febuary 3, 2020
January 27, 2020
January 20, 2020
January 13, 2020
January 6, 2020

2019

December 30, 2019
December 23, 2019
December 16, 2019
December 9, 2019
December 2, 2019
November 25, 2019
November 18, 2019
November 11, 2019
November 4, 2019
October 28, 2019
October 21, 2019
October 14, 2019
October 7, 2019

September 30, 2019
September 23, 2019
September 16, 2019
September 9, 2019
August 26, 2019
August 19, 2019
August 12, 2019
August 5, 2019
July 29, 2019
July 22, 2019
July 15, 2019
July 8, 2019
July 1, 2019

June 24, 2019
June 17, 2019
June 10, 2019
June 3, 2019
May 27, 2019
May 20, 2019
May 13, 2019
May 6, 2019
April 29, 2019
April 22, 2019
April 15, 2019
April 8, 2019
April 1, 2019


March 25, 2019
March 18, 2019
March 11, 2019
March 4, 2019
February 25, 2019
February 18, 2019
February 11, 2019
February 4, 2019
January 28, 2019
January 21, 2019
January 14, 2019
January 7, 2019