Kings Highway BID Distributes Recession Survival Guide

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The Kings Highway BID presents Recession Survival Guides to businesses at the BID’s Annual meeting. Shown here left to right: Sidney Haimowitz, a property owner on Kings Highway and owner of Haimowitz Insurance; Phil Nuzzo, executive director of the Kings Highway BID; Nancy Herbst, vice president and branch manager for HSBC, Leon Fonfa, senior development manager for the New York City Department of Small Business Services; and Malcolm Newman, a Kings Highway property owner and president of the Kings Highway BID.

Did you know that the New York State Department of Labor has a layoff prevention program? Or that through the 2009 American Recovery and Reinvestment Act the SBA is offering short-term loans to businesses that need help making interest payments on qualifying debt? Or that the IRS has extended the carry back period for Net Operating Losses from two to five years?

The Kings Highway BID wants to make sure the businesses in its district know the answers to these questions and more. To reach that goal, it has created a Recession Survival Guide, a folder full of information about the federal, state, and local programs available to help businesses manage during the economic downturn. The first copies were distributed at the BID’s Annual Meeting, and the remainder will be distributed to businesses on Kings Highway in the coming weeks.

“We researched the recovery programs available and included in this folder information about those we thought would be most beneficial to the businesses in the BID,” said Phil Nuzzo, executive director of the Kings Highway BID. “We hope that the programs highlighted will enable businesses not only to survive the recession, but thrive on Kings Highway for many years to come.”

The following are examples of what the Recession Survival Guide includes:

More information about the Kings Highway BID is available at 718-645-1100.

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