# ![](media/image1.png){width="1.63125in" height="0.83125in"} 

Volume 11 -- Issue 9 Contact: Chris Chavez (christopher.chavez@sba.gov)

## September 2005 Phone: (303) 844-0501/Fax 844-0506

####### SBA's Monthly News Update 

###### *-Serving Colorado, Montana, North Dakota, South Dakota, Utah and Wyoming-*

Newsline Eight is circulated to our resource and lending partners by
SBA's Region Eight Office

721 19^th^ Street, Suite 400, Denver, Colorado 80202.

**Elton W. Ringsak, Regional Administrator**

**James R. Henderson, Regional Advocate**

**Christopher Chavez, Regional Communications Director**

**Carol Helm, Regional Office Manager**

![](media/image3.jpeg){width="0.89375in" height="1.3125in"}***[Regional
Administrator's Update by Elton "Mick" Ringsak]{.underline}***

**SBA SEEKS NOMINATIONS FOR 2006 SMALL BUSINESS WEEK AWARDS.**
Nominations for SBA's 2006 Small Business Person of the Year Award,
Small Business Champion Awards, and other special category awards are
now being accepted by the SBA. In total, there are 10 award categories
that individuals can be nominated for. The purpose of these awards is to
recognize the critical importance that small business plays in our
nation's economy and local communities. All statewide winners will
compete for either regional or national honors at the SBA's Small
Business Conference and Trade Show which will be held Spring 2006 in
Washington DC. The nomination criteria can be obtained by going to
<http://www.sba.gov/nominationsguideline.html> . For more information,
contact your local SBA District Office at 1-800-776-9144. The deadline
for nominations is November 4^th^.

![](media/image4.jpeg){width="0.8958333333333334in"
height="1.3125in"}**["In Your Corner" by Jim Henderson, Small Business
Advocate]{.underline}**

**Extending Increased Section 179 Expensing Limits Will Help Small
Businesses Grow.** Congress should extend the increased Section 179
expensing limits for small business, according to testimony by Jim
Henderson, the Rocky Mountain Region's Small Business Advocate.
Henderson testified before a Colorado field hearing of the U.S. House of
Representatives Committee on Small Business, Subcommittee on Workforce,
Empowerment, and Government Programs in August. Section 179 of the
Internal Revenue Code allows small businesses to deduct all or part of
the cost of certain property and equipment in the year it is placed into
service, rather than deducting its cost over several years. In 2003,
President Bush signed a tax relief bill which increased the Section 179
limit to \$100,000. The tax change has encouraged small businesses to
invest in their businesses. The increased Section 179 limit is set to
expire in 2008. Testifying at the Ft. Collins hearing, Henderson said
that the increased Section 179 expensing limit is "having a significant
positive impact on small businesses because it increases their cash flow
and dramatically reduces the paperwork necessary to account for the
capitalization of purchased business property."

**Page One of Three**

**Page two -- Newsline Eight -- September 2005**

Moreover, since the previous more restrictive limits will go back into
effect in 2008, Advocacy "believes the expensing limits should be
extended as called for in Chairwoman Musgrave's legislation H.R. 1678"
and that "ultimately Advocacy hopes the limits will be made permanent"
as called for by President Bush. Advocacy research shows that increasing
marginal tax rates on business income reduces the chances that
entrepreneurs will open new firms while it increases the likelihood that
they will exit the market. Further, decreasing marginal tax rates across
the board spurs entrepreneurship by increasing the rate of new firm
formation and slowing the rate of firm closure. "Expansion of the
expensing provisions of Section 179 is important to small businesses
right here in Colorado," Henderson said, noting that Mark Patterson, a
tax accountant with the firm Stockman Kast Ryan and Company in Colorado
Springs, has many clients that have taken advantage of Section 179's
increased expensing provision. Patterson advised a new medical clinic
that started in 2003 to use Section 179.  Henderson noted that starting
a medical clinic requires a significant amount of upfront capital
investment; by availing itself of the Section 179 expensing provisions,
the clinic increased its working capital enough to hire two key
employees. "The clinic's chance of being successful was increased
because it was able to have the latest equipment and technology from day
one," Henderson said. Extending the increased expensing limits of
Section 179 will establish lower tax liability for small firms and thus
help increase firm formation, retention, and job growth. For Henderson's
complete testimony, visit
[www.sba.gov/advo/laws/test05_0809.pdf](http://www.sba.gov/advo/laws/test05_0809.pdf).

 

**[District Office Reports: Your SBA Event Planner]{.underline}**

**Colorado *--* Tucker Hart Adams to Speak at Strategic Business
Forum.** This event is being hosted by the SBA and NAWBO. Join the
Denver Chapter of the National Association of Women Business Owners
(NAWBO) as they partner with the SBA to present the "*In Good Company*
Strategic Business Forum" for women business owners. The focus of this
program is to give small business owners insight into the changing
Colorado and U.S. economies and how the Colorado economy is likely to
impact their business, their customers and their suppliers in 2006. Dr.
Adams will review the current economic situation and provide her
observations as to where the economy may go in 2006. The event will take
place on Monday, September 12^th^ from 11:30 am to 1:00 pm at the Four
Points by Sheraton Denver Southeast hotel in Denver. The cost to attend
is \$35 for NAWBO members and \$40 for nonmembers. For more information,
call 1-866-483-0171 or visit
[www.NAWBODenver.com/InGoodCompany](http://www.NAWBODenver.com/InGoodCompany).

**Montana** **-- SBA to host a statewide lender conference to be held
Sept 20-21st in Bozeman.** There will be a special opening-day reception
the night of Tuesday, September 20^th^ with the event beginning at 8:30
a.m. Wednesday, September 21^st^.  Topics will include SBA's various
loan guarantee programs (including the 504 program), Export Financing,
Technical Assistance Resources, USDA Rural Development, and Montana
Board of Investments.  Staff from the SBA Loan Servicing Center will
also be talking to the group via teleconferencing.  Expected attendance
is over 100. All Montana lenders are encouraged to attend this event.
For more information, please contact the SBA's John Klaman at
406-441-1081 X 142.

**Page three -- Newsline Eight -- September 2005**

![](media/image5.jpeg){width="1.25in"
height="1.0791666666666666in"}**North Dakota** **-- Mike Gallagher,
Supervisory Business Development Specialist, named "North Dakota
District Office Employee of the Year" by Mick Ringsak, SBA's Region VIII
Administrator.**  Mike was instrumental in making the North Dakota
District office one of the top ten SBA offices in the nation. SBA
offices are ranked on their ability to meet market needs for small
business owners in lending, counseling, training and government
procurement efforts.  This office has exceeded most of its goals
established for fiscal year 2005. By utilizing innovative techniques and
technology to reach rural areas of North Dakota the office was able to
reach more entrepreneurs across the state. Gallagher, a twenty year
veteran with SBA, also received the District Employee of the Year in
2002. Gallagher's responsibilities include oversight and coordination of
marketing and outreach for counseling, training and technical assistance
in North Dakota.

**South Dakota --** **Small business tax workshops to be held in Sioux
Falls and Mitchell.** State and federal tax laws too complicated? Small
firms are encouraged to attend these FREE business tax workshops
sponsored by the South Dakota Departments of Labor, Revenue and
Regulation, the Small Business Development Center, SBA and the IRS. The
workshops will be presented in Mitchell on September 7th, at the First
Dakota Bank, Dakota Room. The second will be held in Sioux Falls,
September 28th, at the Colorado Technical University.  Both workshops
will begin at 8:30 a.m.  For more information, contact the South Dakota
Department of Revenue at 1-800-829-9188.      

**Utah** -- **Stan Nakano, SBA's Utah District Director, will present
the Utah 8(a) Contractor of the Year award at the 4^th^ Annual Women and
Minority Entrepreneurial Conference sponsored by the Multi-Ethnic
Business Committee and the Women's Business Center**.  The Conference
will be held Saturday, September 10th from 8:30 am to 1:30 pm at the
Hilton Salt Lake City Center.  The conference will include success
stories, workshops, networking and business resources.  For more
information, please contact Zee at the Salt Lake Chamber at (801)
957-2027 or <zxiao@saltlakechamber.org>.   

 

**Wyoming --** **The** **6th Annual Wyoming Women\'s Conference to be
held Saturday, September 10^th^ in Dubois. ** The Wyoming Women\'s
Business Center will host the 6th Annual Wyoming Women\'s Conference,
*Create Your Sustainable Future:  From Solid Personal Financial
Foundations to Lasting Business Success*.  The Conference will be held
at the Headwaters Arts & Conference Center in Dubois. The Conference
will include workshops covering topics such as Creating a Spending Plan,
Health Care for Children, Increasing Assets/Decreasing Debt and
Understanding Credit, Long-Term Financial Security, Increasing Profits
by Adding Value, Secrets of eCommerce, and Government Contracting.  The
cost is \$40. To register, call the Wyoming Women\'s Business Center in
Laramie at 766-3084 or go to
[www.wyomingwomen.org](http://www.wyomingwomen.org/) .For more
information call (307) 766-3084 or toll-free (888) 524-1947 or email
<wwbc@uwyo.edu>