New Member Highlight-Lead EZ Solutions
The intent of Lead EZ Solutions is to provide personalized professional development to each client once it is determined what they need to succeed personally and professionally. This includes Board development, staff development, and one-on-one development.
Owner Holly Morrison's expertise and background includes education, philanthropy and nonprofit work, strategic planning facilitation and leadership development.
Connect with Lead EZ Solutions at (570) 380-3305.
Member News March 27, 2024
What's So Cool About Manufacturing? Contest Voting open NOW!
Central Susquehanna What's So Cool About Manufacturing? video contest. voting is open from thru 11:59 P.M. on March 28th. Vote for your favorite video as many times as you'd like. The contest videos were created by students from Bloomsburg, Central Columbia, Mount Carmel, Huntingdon, Williamsport and Southern Columbia middle schools and feature the following manufacturers: West Pharmaceutical Services, Bloomsburg Carpet, Gardners Candies, GAF, Great Dane, and Press Enterprise. The 2024 Central Susquehanna What’s So Cool About Manufacturing contest is produced by IMC, CSIU, The Foundation of The Columbia Montour Chamber of Commerce, BLaST IU 17 and Advance Central PA.
Pure Health By Andrea Celebrates 3rd Anniversary
Pure Health By Andrea Celebrates 3rd AnniversaryBloomsburg Children's Museum Announce April Program
Garden Party to Benefit Ronald McDonald House of Danville
A captivating evening amidst the beauty of spring at Garden Party at Dark. On April 5th, put on your finest cocktail attire and head to the AEREA in Milton, PA from 6:30-10pm. The evening will feature music, entertainment, silent auction, cocktails, and more! Get your tickets here.
Bloomsburg Rotary PB & J Drive underway
Now through April 25th the Bloomsburg Rotary is collecting PB & Jelly to be distributed through the Bloomsburg Food Cupboard. Get a list of drop off locations here.
Tanks on the Loose
The Stuart Tank Memorial Association announces the nearing completion of the restoration of "Lady Lois", our M3A1 Stuart Light Tank, with a parade and museum open house on April 14th in Berwick. For more information, contact Tom McLaughlin at tomm3a1@gmail.com.
Bloomsburg YMCA hosting Healthy Kids Day April 20th
Healthy Kids Day is on April 20th, 2024 and partners with the Bloomsburg Children's Museum Mini Maker Faire. This event will last from 10AM until 4PM. There will be free crafts, activities, games and sports for children and their families to take part in including a mini farm market, skee ball, inflatable soccer, sand art, and more!
Servpro of Columbia, Montour & Sullivan Counties offering CE classes
5 CE classes will be offered by Servpro of Columbia, Montour & Sullivan Counties. Get the full schedule.
Renaissance Jamboree April 27th
Renaissance Jamboree will be happening Rain or shine 10 am - 5:00 pm on April 27th at Main and Market Streets in Downtown Bloomsburg. Get all the details here.
United In Recovery Naloxone Distribution Dates
United in Recovery is organizing free community naloxone giveaways. Community members can pick up naloxone kits along with information on substance use disorder treatment, counseling services, peer support, and basic needs assistance. Fentanyl and xylazine testing strips, along with other harm reduction, recovery, and treatment resources, are also available. Get a list of locations and dates here.
April Weis Center for the Performing Arts Shows
- Cellist Jonathan Swensen and Pianist Adam Golka on Sunday, April 7 at 2 p.m. at the Weis Center.
- Jazz Ambassadors of the U.S. Army Field Band will continue its long tradition of presenting free public performances when they appear on Friday, April 12 at 7:30 p.m. at the Weis Center.
PCT Offering Professional Development Classes
Pennsylvania College of Technology is offering training across a broad spectrum of topics. From the novice learning a new program or skill, to seasoned users aiming to hone the most advanced skills, our vast library of available course topics meets the needs of any business. Check out their upcoming Training opportunities flyer.
BOOM Camps happening
Better Orientation Onboarding & Mentoring (BOOM) Camps will be hosted free and online April - July. Get dates, session topics and to register by clicking here.
Free NonProfit and Municipality Workshop April 17th
As part of the Columbia County Placemaking Initiative, there will be a free workshop to help nonprofits and municipalities in Columbia County find and prepare competitive state and federal grant applications. The workshop will be in Bloomsburg on Wednesday, April 17 from 1 to 3:30 p.m. Click here to register.
Community Giving Foundation: Danville announces "Neighbor of the Year" award
The Neighbors Helping Neighbors Event Committee and Community Giving Foundation: Danville are pleased to announce the 2024 Robert N. Pursel Award for “Neighbor of the Year”—Bob Stoudt. Bob will receive the award at the upcoming event on April 20th at the Pine Barn Inn. More information about the event is available at csgiving.org/neighbors.
DCDC "Dinner and a Show"
Put two sharp-witted and talented musicians onstage with two grand pianos, and add a roomful of people: The result is an evening of fast, funny, unforgettable entertainment. There will be auction items and other surprises as well in honor of DCDC’s 50th Anniversary, and we hope for you to join us at the Pine Barn Inn for a grand celebration! Check out sponsorship and Tickets on sale now!
Penn College to host Baja SAE Competition in May
Baja SAE challenges engineering students to design and build an off-road vehicle that will survive the severe punishment of rough terrain and in some competitions, water. Penn College will host a Baja SAE international competition, May 16–19, 2024, at the Schneebeli Earth Science Center’s heavy construction equipment operations training site. Learn more about sponsorship opportunities for the BAJA SAE Williamsport and ways to support the team.
Save the Date for Agapepalooza
Save the Date for Agapepalooza July 20th, 2024. This is a day of free fun for the whole family with activities, local vendors, and food. Learn more.
The Role of Flexibility: Adapting to Trends in 2024
Source: Angie Miller, McKonly & Asbury
I recently read the article “10 Finance and Accounting Trends You Can’t Ignore in 2024,” and one of the keywords in the article stuck out to me as a hot topic across many industries—flexibility.
As 2024 continues, both the accounting and manufacturing industries face challenges with uncertain economic conditions. Rapid data flow and technological advancements have and continue to reshape both these industries, which calls for flexibility from professionals to adapt to evolving trends and mitigate the ever-changing risks. Let’s explore how the underlying need for flexibility in accounting is similar to that of the manufacturing industry, particularly in the face of economic uncertainty.
Flexibility in Response to Economic Uncertainty
Accounting and manufacturing industries are no strangers to economic fluctuations. Both have experienced the ripple effects of market downturns, supply chain disruptions, and shifting consumer demand. In such uncertain times, flexibility becomes a key factor of success for both industries. Just as manufacturing companies adjust production schedules, inventory levels, and sourcing strategies to respond to changing market conditions, accountants must adapt financial strategies, budgeting/forecasts, and risk management approaches to mitigate the impact of volatility in the economy.
Adapting to Technology
The integration of technology has revolutionized accounting and manufacturing practices by driving automation, streamlining various processes, and enhancing productivity. Whether implementing an enterprise resource planning (ERP) system in manufacturing or adopting cloud-based accounting software in accounting, flexibility enables professionals to use technology’s full potential to drive innovation and growth in their industries.
In 2024, businesses operate in an era of real-time data, where significant amounts of information are generated and processed instantaneously. The advancement in tools and technologies provides endless opportunities to extract meaningful insights from this data. Professionals in these industries need to keep a flexible mindset, as they must continuously update their skill sets and be open to learning new technologies to remain competitive and leverage emerging tools to their advantage.
Navigating Cybersecurity Risks
With the growth of technology and digital data comes the challenge of increased cybersecurity risks and data privacy concerns. Organizations should exercise flexibility by implementing strong cybersecurity measures and ensuring compliance with various data protection regulations while balancing the need for data to be accessible and usable for the professionals at their organizations. These cybersecurity measures can involve multiple activities for organizations, like collaborating with cybersecurity experts, investing in secure data management systems, and staying vigilant against emerging cyber threats. Flexibility is essential for professionals as they adapt to these frequently evolving cybersecurity risks, and their organizations implement measures to safeguard sensitive information. They should maintain a positive attitude while staying up to date on IT training and remaining vigilant to the newest scams, no matter how tempting that ‘Free T-Shirt’ email appears to be.
In summary, the accounting and manufacturing industries can navigate uncertain economic conditions with a shared emphasis on flexibility and adaptability. Both sectors should embrace flexibility and respond quickly to changing market dynamics, leverage new technology, and mitigate risks to remain resilient and position their organizations for growth and long-term success.
“We always have to be adapting because it’s always hard. If it were easy, we would all sit back, feet up, on the beach.” – Dr. John W. Mitchell, Forbes Book Author
Please reach out to a member of our Manufacturing & Distribution team for more information on the topic outlined above. For more information regarding our Manufacturing & Distribution experience, visit our Manufacturing & Distribution page.
Last Week In the Legislature
Source: PA Chamber of Business and Industry
Members of the Pennsylvania House and Senate returned to Harrisburg last week to kick off the first voting session of the year. Here’s a rundown of some of the action that occurred last week in the Legislature relevant to employers.
Data Privacy (H.B. 1201)
The House of Representatives voted 139-62 to pass House Bill 1201 on Monday.
This bill would regulate the collection and use of consumers’ data by providing consumers with certain rights and requiring businesses to protect and limit collection of personal data.
The PA Chamber believes a national framework for data privacy regulation is preferable to protect consumer data, promote transparency, and provide regulatory certainty in the marketplace, rather than a patchwork of state and local laws. Congress, however, has not yet advanced consumer data privacy legislation, and in the meantime, 11 states have adopted data privacy laws.
We have advocated that if lawmakers are to advance data privacy legislation at the state level, they should look to states such as Virginia and Connecticut, which crafted their laws with input from the business community.
Several key PA Chamber recommendations have been incorporated into H.B. 1201, including exempting already regulated employers and ensuring may continue to offer popular customer rewards and loyalty programs. At the same time, concerns with the bill remain, including the low threshold for covered entities (currently triggered when an employer obtains the data of 50,000 individuals) and a short compliance window (six months) that will make it difficult for small businesses.
We urge lawmakers to continue working to improve H.B. 1201 and incorporating feedback from affected employers (CLICK HERE for our memo) as the legislation now heads to the Senate.
Employer 529 Savings Tax Credit (H.B. 1745)
The House of Representatives voted unanimously to pass House Bill 1745 on Wednesday.
This legislation would create a credit for employer contributions to 529 tuition savings accounts. Any employer that contributes to an account owned by an employee under the Tuition Account Program would be able to claim a tax credit against its state tax liability.
The amount of the tax credit would be equal to 25 percent of the employer’s aggregate contributions made to accounts owned by employees during the tax year. The total amount of contributions that an employer may make to accounts owned by employees would not exceed $500 per employee during the tax year. This legislation now heads to the Senate.
Lowering the Commercial Driver’s License Age (H.R. 322)
The House Transportation Committee voted unanimously to report House Resolution 322 out of Committee on Monday.
This resolution would urge Congress to pass legislation to allow individuals under the age of 21 with a Commercial Driver’s License to drive across state lines and participate in interstate commerce.
Trucking companies report significant workforce shortages, which is a challenge for their industry and the many businesses and customers that rely on trucking to move goods to market. While individuals can obtain a CDL in Pennsylvania at age 18, federal law prohibits drivers from crossing state lines until the age of 21, which limits opportunities at an early stage in their career and exacerbates workforce challenges for the industry.
We supported this legislation (CLICK HERE for our memo). It now heads to the full House for final consideration.
Social Media Access for Minors (H.B. 2017)
The House Consumer Protection, Technology & Utilities Committee voted 21-4 to report House Bill 2017 out of committee on Tuesday.
This legislation would require social media companies to monitor the chats of two or more minors on the platform and notify parents or legal guardians of flagged sensitive or graphic content. Additionally, the bill would require consent from a parent or legal guardian for anyone under 16 to open a social media account and notify parents or legal guardians if a child under 16 opens a social media account without consent. The bill would also prohibit data mining for users under the age of 18 and allow any individual to request the deletion of data that was mined while they were under the age of 18.
The bill originally included a private cause of action and concurrent jurisdiction for local district attorneys and other governmental entities such as school districts. The PA Chamber supported an amendment offered by Rep. Jim Marshall (R-Beaver) that instead gives the Attorney General exclusive jurisdiction. The amendment passed by a vote of 24-1.
This legislation now heads to the full House for consideration.
Critical Infrastructure Trespass/Vandalism (S.B. 819)
The Senate Judiciary Committee voted 9-5 to report Senate Bill 819 out of committee on Tuesday.
This legislation would increase criminal penalties against individuals who knowingly trespass onto or vandalize critical infrastructure facilities. The legislation also establishes civil liability and allows the owner of a critical infrastructure facility to recover damages from someone convicted of trespass or vandalism.
Assets such as water treatment facilities, pipelines, telecommunications, dams, ports, and manufacturing facilities are vitally important to the well-being of our economy and to the health and safety of our citizens. This legislation puts in place reasonable measures to protect these assets.
We supported this legislation (CLICK HERE for our memo), which now heads to the full Senate for consideration.
Clarifying Flexibility for Work from Home (S.B. 416)
The Senate Finance Committee voted 7-4 to advance Senate Bill 416 on Wednesday.
This legislation would clarify that the imposition of corporate net income tax for out-of-state employers shall not include employees who are residents of Pennsylvania and who work from home during fewer than 50 percent of their normal working hours on an annual basis.
Businesses have seen a significant increase in remote workers post-COVID-19. This legislation provides relief to out-of-state companies via an exemption from triggering the CNIT for their employees who are residents of Pennsylvania.
We supported this legislation (CLICK HERE for our memo), which now awaits further action by the full Senate.
Optional Entity-Level SALT Cap Workaround (S.B. 659)
The Senate Finance Committee also voted 9-2 to advance Senate Bill 659 on Wednesday.
This legislation would allow Pennsylvania partnerships or S-corporations to elect to recognize income from the operation of the business at the entity level, as opposed to the existing pass-through methodology used for income tax purposes.
The Tax Cuts and Jobs Act (TCJA) imposed a $10,000 limit on the maximum deduction taxpayers may claim for certain state and local taxes through 2025 on individuals but not business entities. This bill would shift state tax liabilities for pass-through entities’ (PTEs) income from the individual back to the PTE, providing relief to owners and shareholders.
We supported this legislation (CLICK HERE for our memo), which now awaits further Senate action.
The Senate Finance Committee also voted 7-4 to advance Senate Bill 1051 on Wednesday.
This legislation would allow the Pennsylvania Board of Finance and Revenue (BF&R) to consider late-filed tax appeals from the Department of Revenue (DOR) if the taxpayer shows good cause. It also establishes a settlement process at the BF&R as an alternative to the formal and lengthy court appeals process.
Taxpayers who disagree with a final decision made by DOR currently have 60 days to appeal the decision to the BF&R. Without the ability to accept late-filed appeals, cases are dismissed on technicality rather than on merit. The ability to settle disputes at the BF&R will provide for a quicker and fairer resolution to tax disputes, particularly for smaller businesses that do not have the resources for a drawn-out appeals process or litigation in the Commonwealth Court.
We supported this legislation (CLICK HERE for our memo), which now awaits further Senate action.
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Founded in 1916, the Pennsylvania Chamber of Business and Industry is the state's largest broad-based business association, with its membership comprising businesses of all sizes and across all industry sectors. The PA Chamber is The Statewide Voice of BusinessTM.
Leadership Impact: Navigating Talent Turnover and Fostering a Thriving Company Culture
- Talent turnover leads to significant loss of knowledge and potential, often driven by stressful management.
- Financially, replacing an employee can cost up to double their salary and trigger a domino effect causing multiple departures.
- This turnover negatively impacts employee morale and company culture, potentially creating a toxic work environment.
- By investing in leadership development, businesses can minimize these effects and improve work culture.
- Regularly evaluating leadership effectiveness and investing in management relationships can prevent high turnover and promote business growth.
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Talent turnover isn’t simply about losing one person. It's about losing a significant amount of knowledge and potential. In a study on workplace satisfaction, 75% of workers reported that their immediate boss was the most stressful part of their job. And that stress has a cost. While your best workers may be attracted to the company mission, a big reason they often leave is the manager.
The Financial Impact of Talent Turnover
Unfortunately, the cost of one person leaving can be substantial. According to Gallup research, replacing an employee can cost up to one half to double their salary. Plus, when one person leaves, it can trigger a domino effect leading to more departures. When multiple employees leave, studies have found a problem manager is often to blame and, in addition to the lost talent, employee performance drops across the board. From profit margin to customer service, turnover weakens a company’s brand and bottom line.
The Silent Killer: Turnover’s Effect on Morale & Company Culture
It’s common for employees to build relationships with their co-workers. When one person leaves, employee morale takes a hit. Instead of seeing their friend at work, an employee might need to cover that person's work until someone new is hired. Losing a professional relationship and taking on more work compounds the negative effects on staff. And if management contributed to the voluntary exit, then that worker may be the next to give notice.
Unsurprisingly, negative experiences stick around, disrupting the harmony within the company. If the leadership isn't effective, it can turn the workplace from a place where ideas thrive into an environment where everyone treads carefully. This downward spiral not only hurts productivity it also affects the happy workplace culture business owners want.
The Good News: Managers Are Also Part of the Solution
Leadership isn't instinctive; it’s a skill that needs to be developed. The same research that found that turnover negatively affected workplace performance also found that good leadership could minimize these effects. When business owners invest in training their leaders, managers gain the necessary people and performance skills that improve work culture.
Management Training
Investment can take many forms, such as leadership retreats, one-on-one coaching sessions, or pairing managers with mentors within the company. The goal is to cultivate a group of bosses who truly understand their teams. According to Wharton Business School, professional development empowers leaders with new skills and knowledge, which in turn provides a better skilled workforce, increases workplace satisfaction, and decreases turnover.
Recognizing When It's Not Working
Sometimes, a leader and their position just don't fit. Making difficult decisions about leadership is hard but necessary. Pay attention to more turnover from the same department, which will often point you in the direction of the problem. Delaying could mean your business is stuck instead of moving forward.
The Bottom Line
Leaders often mention their teams when discussing business success, but managers are often left to navigate alone. The reality is that managers are the stabilizing force that keeps the team in good shape.
If your business has been experiencing more turnover, experts advise looking beyond more money or benefits. Look closely at your team culture, especially at those in leadership positions. Often, that's where you'll find the problems. And that's where you can fix them—with effective leadership.
Invest in your management relationships. In business, retention and progress go hand in hand. You’ve worked hard to build your business. Don't let a misstep from the top send your best employees looking for new opportunities.
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The Columbia Montour Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike.
Member News March 20, 2024
Celebrate SBDC Day Today
There’s still time to register for the SBDC Day webinar, “SBA Loan Programs”! Dive into the world of Small Business Administration loans: from the basics and borrower eligibility to program details and pursuing your loan. Join in celebrating SBDC Day along with 1,000 SBDCs nationwide! Register between now and 4pm and be part of the celebration!
Service 1st Announces Shaffer as Marketing Manager
Service 1st Federal Credit Union recently welcomed Jeff Shaffer to the team as its new Marketing Manager. Shaffer brings along nearly 20 years of experience in communications, public relations, and marketing. Welcome Jeff!
Berwick Historical Society Celebrates with Ribbon Cutting
Berwick Historical Society Celebrates with Ribbon CuttingOn March 16th the Ross & Boone Gift Shoppe at the Jackson Mansion and Carriage House, the newest facility of the Berwick Historical Society opened with a ribbon-cutting celebration. The new gift shop makes possible future development at the carriage house, and Jim Stout tells us great things are coming soon, especially for kids!
Second Annual: Doggie Easter Egg Hunt
Join Apollo Point Apartments for the second annual Doggie Easter Egg Hunt at Apollo Point Apartments on March 23rd at 10 am! All furry friends, regardless of size, are invited to join in the fun. See you there!
Press Enterprise Bracketeers Contest Open
Think you know college basketball. Enter the Press Enterprise's annual Bracketeers contest sponsored by PenTele Data. Entries are accepted until 11:00 March 21st.
Traditional Irish Music Comes to the Weis Center
The Weis Center for the Performing Arts will welcome Irish music ensemble Dervish on Friday, March 22 at 7:30 p.m. at the Weis Center. Learn more.
CSO T-Shirt contest voting now
Easter Eggstravaganza: A Joint Celebration with Bloomsburg YMCA and Children's Museum
Bloomsburg YMCA and Bloomsburg Children's Museum on Saturday, March 23rd for a special Easter event! The Bloomsburg Children's Museum starts the day with Chick & Bunny Day (10 AM - Noon), featuring photo opportunities with adorable chicks and bunnies. Then, hop over to the Bloomsburg Area YMCA for an Easter Egg Hunt (11:30 AM - 1:30 PM). Don't miss this fun-filled day for the whole family! 
PA Bureau of Workers' Compensation PATHS Free Safety Webinars
The Bureau of Workers' Compensation, Health & Safety Division will offer multiple free safety webinars in March 2024. To register, simply click on the topic title and complete the registration form before the day of the presentation
Garden Party to Benefit Ronald McDonald House of Danville
A captivating evening amidst the beauty of spring at Garden Party at Dark. On April 5th, put on your finest cocktail attire and head to the AEREA in Milton, PA from 6:30-10pm. The evening will feature music, entertainment, silent auction, cocktails, and more! Get your tickets here.
Tanks on the Loose
The Stuart Tank Memorial Association announces the nearing completion of the restoration of "Lady Lois", our M3A1 Stuart Light Tank, with a parade and museum open house on April 14th in Berwick. For more information, contact Tom McLaughlin at tomm3a1@gmail.com.
Servpro of Columbia, Montour & Sullivan Counties offering CE classes
5 CE classes will be offered by Servpro of Columbia, Montour & Sullivan Counties. Get the full schedule.
United In Recovery Naloxone Distribution Dates
United in Recovery is organizing free community naloxone giveaways. Community members can pick up naloxone kits along with information on substance use disorder treatment, counseling services, peer support, and basic needs assistance. Fentanyl and xylazine testing strips, along with other harm reduction, recovery, and treatment resources, are also available. Get a list of locations and dates here.
PCT Offering Professional Development Classes
Pennsylvania College of Technology is offering training across a broad spectrum of topics. From the novice learning a new program or skill, to seasoned users aiming to hone the most advanced skills, our vast library of available course topics meets the needs of any business. Check out their upcoming Training opportunities flyer.
Free NonProfit and Municipality Workshop April 17th
As part of the Columbia County Placemaking Initiative, there will be a free workshop to help nonprofits and municipalities in Columbia County find and prepare competitive state and federal grant applications. The workshop will be in Bloomsburg on Wednesday, April 17 from 1 to 3:30 p.m. Click here to register.
DCDC "Dinner and a Show"
Put two sharp-witted and talented musicians onstage with two grand pianos, and add a roomful of people: The result is an evening of fast, funny, unforgettable entertainment. There will be auction items and other surprises as well in honor of DCDC’s 50th Anniversary, and we hope for you to join us at the Pine Barn Inn for a grand celebration! Check out sponsorship and Tickets on sale now!
Penn College to host Baja SAE Competition in May
Baja SAE challenges engineering students to design and build an off-road vehicle that will survive the severe punishment of rough terrain and in some competitions, water. Penn College will host a Baja SAE international competition, May 16–19, 2024, at the Schneebeli Earth Science Center’s heavy construction equipment operations training site. Learn more about sponsorship opportunities for the BAJA SAE Williamsport and ways to support the team.
Save the Date for Agapepalooza
Save the Date for Agapepalooza July 20th, 2024. This is a day of free fun for the whole family with activities, local vendors, and food. Learn more.
New Member Highlight-JS Demott Trucking
Jarrod DeMott, owner and operator of JS DeMott Trucking, has been established since April 2002. Jarrod enjoys delivering aggregate for homeowners.
In addition, he is leased to a large local construction material company hauling aggregate to Penn Dot roading building jobs such as The Susquehanna Throughway Project and other various projects, including local municipalities.
His business is located in Millville, PA. To connect with JS Demott Trucking call (570) 441-2331.
PA CHAMBER REACTS TO SHAPIRO’S ENERGY PLAN
Source: PA Chamber of Business and Industry
The first is a state-specific cap-and-invest program known as the Pennsylvania Climate Emissions Reduction Act (PACER), which the governor framed as an alternative to Pennsylvania’s participation in the Regional Greenhouse Gas Initiative (RGGI).
The other proposal, called the Pennsylvania Reliable Energy Sustainability Standard (PRESS), would require that 50 percent of the state’s electricity come from diverse sources by 2035, including 35 percent from clean energy such as solar and wind, 10 percent from sustainable sources like hydropower and battery storage, and five percent from low-emission natural gas and other fuels.
In response, PA Chamber President and CEO Luke Bernstein released the following statement:
“We all share the goals of protecting our environment and growing our economy – and, one does not have to come at the expense of the other. Pennsylvania is a global leader in energy production and reducing emissions, and policies going forward should build on this progress. We await details on the governor’s proposals, which raise significant questions and concerns about the impacts on our residents, businesses, the environment, and our economy. We encourage the governor to work in a collaborative way with additional stakeholders and the legislature to address important questions pertaining to the short- and long-term impacts of these policies and develop the best plan for Pennsylvania.”
You can read more about the governor’s proposal (and the initial response from Pennsylvania’s business community) in the Central Penn Business Journal and the Pennsylvania Business Report.
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Founded in 1916, the Pennsylvania Chamber of Business and Industry is the state's largest broad-based business association, with its membership comprising businesses of all sizes and across all industry sectors. The PA Chamber is The Statewide Voice of BusinessTM.
The 2024 Yellow Book Released
Source: McKonly & Asbury
What is the Yellow Book?
What is the Yellow Book?The Yellow Book is a set of standards and requirements for auditors who perform audits of government entities, as well as audits for entities that receive government awards. These Yellow Book audits are standard in the nonprofit industry where funds are received directly from the federal government, funds are disbursed from a state agency, or funds are passed down from another nonprofit organization. The Yellow Book aims to ensure high-quality audit work is completed with greater accountability to auditors and audit organizations around concepts such as integrity, objectivity, and independence. It also includes requirements for competency and continuing professional education, as well as reporting of audit results. The GAO first introduced these standards back in 1972, and they have gone through numerous revisions and updates since that time, with the last time occurring in 2018.
What has Changed?
The changes included in the 2024 Yellow Book focus and enhance how an audit organization manages its audit quality and reflect a shift in the approach an audit organization takes from “quality control” to “quality management.” This shift involves the incorporation of a risk assessment process that will be used by audit organizations to identify, evaluate, and mitigate risks to their audit quality. There is also an increased emphasis included in the 2024 Yellow Book for how leadership manages quality and its responsibility for doing so.
Most of the changes occur within Chapter 5, now titled “Quality Management, Engagement Quality Reviews, and Peer Review.” As described by the GAO, this chapter addresses the audit organization’s responsibilities for designing, implementing, and operating a system of quality management. Unlike previous versions of the Yellow Book, the 2024 Yellow Book includes scalability considerations based upon the unique nature and circumstances of the audit organization (such as size, number of offices, etc.). Also included is the requirement for an annual evaluation of quality management performed by a senior-level official assigned the responsibility and accountability for the audit organization’s system of quality management. Further, enhanced requirements around the Engagement Quality Review process are included, including certain required documentation matters. Lastly, the requirements surrounding peer reviews were mostly unchanged.
New Yellow Book Implementation
The 2024 Yellow Book is effective for periods beginning on or after December 15, 2025. A system of quality management that complies with the Yellow Book is required to be designed and implemented by December 15, 2025, and an audit organization should complete an evaluation of the system of quality management by December 15, 2026. Early implementation of the 2024 Yellow Book is permitted, and until the implementation of the 2024 Yellow Book, auditors should continue to follow the 2018 Yellow Book.
There are many changes and nuances included in the new 2024 Yellow Book beyond the scope of this article. A copy of the 2024 (and 2018) Yellow Book can be found here. We encourage those that are impacted by the Yellow Book take a closer look at the changes and contact a member of the McKonly & Asbury Nonprofit team with further questions.
Navigating the Marketing Maze
- Set clear marketing goals based on what you aim to achieve, such as boosting website traffic, sales, or social media presence.
- Capitalize on what makes your small business unique, like being family-owned or sourcing locally, to stand out without a big budget.
- Use online tools to track important metrics like sales/conversion rates and click-through rates to gauge marketing impact in real time.
- Consider hiring an agency to monitor metrics if analyzing data isn't your strength, ensuring you focus on growing your business.
- Allocate your marketing budget wisely, customizing your strategy to your business's stage and competitive landscape, with startups advised to use 10-12% of revenue for marketing.
- Stay adaptable and learn from analytics, competitors, and customer feedback to refine your marketing efforts and maximize budget efficiency.
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Small business owners face marketing challenges with limited resources. But that doesn’t mean you can’t learn to play the game, and it starts with making the most of your budget. When you focus on knowing your numbers, strengths, and connecting with customers, you can make smarter decisions with your marketing dollars. Read on to discover practical ways to maximize your marketing impact on a budget.
First Rule of Marketing: Set a Clear Goal
First Rule of Marketing: Set a Clear GoalBefore investing in your marketing or setting a budget, first clarify your goals. Whether it's boosting website traffic, sales, or social media presence, know what you're aiming for and why. Too often small businesses invest in advertising or social media campaigns, without considering if these initiatives will create the results they want. For example, if your goal is to reach new customers, there’s an important difference between display ads and google search ads. When faced with limited resources, choose the option that best aligns with your top priority, and ensure everyone on your team understands the goal for cohesive strategy execution.
Marketing Your Uniqueness, Not Your Bank Account
There's a misconception that consumers only favor big flashy brands with big marketing budgets. But business is more like chess; strategy often trumps resources. Your small business has unique selling points that set you apart. Focus on what makes you unique. Maybe you’re family-owned, source your ingredients locally, or nationally-recognized for your customer service. Using specific language in your marketing that attracts your ideal audience is key. The more you understand your audience, the more capable you will be in creating marketing messages that resonate with new and existing customers.
Marketing Metrics Tell No Lies
Thanks to online tools, a small business can now accurately gauge the impact of its marketing efforts in real time.Think about it this way: you've put your precious coins into an ad campaign. If the click-through rate is low, adjust the ad. If a post is gaining traction, boost the ad and run it longer. According to research conducted by Hubspot, the most important metrics to follow on your website are your sales/conversion rates, your monthly visitors, click-through rates, search traffic, and bounce rates. You can access their full report here.
If you want to run your business rather than analyze data, consider hiring an agency to monitor the metrics for you. Their job is to help you earn a return on your marketing spend or ad investment. If you’re on the fence about outsourcing your marketing, remember you can track this spending too. Decide in advance what success looks like – is it more customers, more email sign-ups, more scheduled meetings? Having a clear notion of success will help you determine if your marketing results match your expectations.
Allocating Your Budget for Maximum Impact
Here's the key: Leveraging even modest resources effectively can yield significant returns. Forget one-size-fits-all marketing budgets; what you need is a strategy customized for your unique situation. For startups, dedicating 10-12% of your revenue to marketing is a smart move. More established businesses should focus on sustaining their market presence. On average, small business owners are advised to invest between 6.5 and 8.5% of their gross revenue into marketing efforts. Another approach is to follow your competition’s lead and match your spending to theirs. It's crucial to remember that judiciously spent funds can dramatically shift your business's trajectory.
The Takeaway: Learn and Adjust
At times, the wisest course of action is to pause, observe, and absorb lessons from your surroundings—be it your specific niche, other sectors, your analytics, or, most importantly, your customers. Adaptability and the ability to listen are crucial in both business and personal life. Leverage these insights to gain a marketing edge. Unlike their larger counterparts, small businesses possess a level of agility and flexibility that is often envied. Embrace these unique strengths to make your marketing budget work for you.
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