With South Carolina Businesses in Their Time of Need, Here is an Opportunity for CPAs to Volunteer

A just-in-time way for you to contribute your time and expertise for October Month of Service

After seeing so many months of hardship around us, SCACPA is excited about the good news that has been the buzz for the past few days: The State Legislature has made $40 million available from federal CARES Act funds to provide grants to small businesses and nonprofits. Organizations can receive up to $25,000, and that can be a lifeline for places that have been severely affected during the pandemic.

You might also know the application period is extremely compressed. All applications must be prepared and submitted within the two-week period beginning today, Oct. 19, through Sunday, Nov. 1. The application requires financial documentation for 2020 that many of these workplaces will need help compiling.

There is an organization that has asked for our collaboration and support over these important next two weeks. The SC Small Business Development Centers (SC SBDC) is part of a national organization with a mission of helping small businesses through providing confidential consulting, education and connection to resources. They have professional advisors who will help businesses compile the needed documentation and complete applications for these grants (just as so many of you have done for the PPP and EIDL programs). Their consulting services are provided at no cost and they are hoping that some SCACPA members might be willing to provide limited pro bono services to ensure demand can be met.

We know the majority of our Members are just now enjoying the light at the end of the tunnel from the October tax deadline. But your help can be essential in assisting the sheer number of companies in our communities who are expected to apply for these grants. Because we’re also well into our annual CPA October Month of Service, this can be a just-in-time way for you to contribute your time and expertise.

HOW TO HELP

Here is a link with basic information on this program, which is being administered by the SC Department of Administration: https://www.scacpa.org/small-businesses-nonprofits-have-two-week-window-to-apply-for-sc-cares-pandemic-relief-grant-programs-with-awards-up-to-25000.

Are you willing to assist the SC Small Business Development Centers? If yes, please respond to their general email address at scsbdc@sc.edu. You can also contact Michele Abraham, the State Director of the SC SBDC, at michele.abraham@moore.sc.edu if you have questions.

In addition: SC SBDC consultants advise all their clients to hire an accountant as a necessary step in ensuring the success of their businesses. This can also be a great opportunity for them to get to know more of you to expand their list of vetted referrals.

SCACPA hopes you will consider this and respond quickly so that your support can enlisted in this important initiative to help save businesses in your local community.

RELATED STORY: “Harvest Hope Food Bank sees increase in demand, decrease in volunteers” (WIS-TV, Oct. 18)