Illinois manufacturers have weathered COVID-19 like champions. As we enter the revitalization phase of the Restore Illinois plan, manufacturers can leverage a wide range of resources designed to help you navigate and overcome challenges brought on by the pandemic.
NEW! Financial Resources for Illinois Manufacturers and Small Businesses
Business Interruption Grants Program (BIG) The Department of Commerce and Economic Opportunity (DCEO) launched the first round of Business Interruption Grants (BIG) by providing $60 million to businesses experiencing losses or business interruption as a result of COVID-19 related closures. [Apply]
Rebuild Distressed Communities Program A $25 million economic recovery program to support Illinois businesses that have sustained property damage as a result of civil unrest during protest and demonstrations on or after May 25, 2020. [Apply]
SBA Disaster Loans & Economic Injury Disaster Loans The deadline is extended to September 30, 2020 for small businesses to apply for an Economic Injury Disaster Loan advance of up to $10,000, that will not have to be repaid. [Apply]
Additional Financial Assistance Resources More information for state, partner, and federal resources for financial assistance is available for qualified businesses. [Get more financial help]
Results from the Federal Reserve Bank of Chicago Business Conditions Survey In late May 2020, the Federal Reserve Bank of Chicago collaborated with the IMEC and the Michigan Manufacturing Technology Center to conduct a survey on the impact of the Coronavirus outbreak so far and expectations for coming months.
75% manufacturers expect the economy to return to pre-pandemic state at the end of 2021
99% made changes to their operations to protect customers and employees from the virus
Most saw substantial decline in revenues compared to what they expected at the beginning of 2020
At IMEC, we take pride in sharing useful information with our online community, highlighting our clients and other businesses who are creating competitive futures in Illinois, and of course our wonderful team of improvement specialists. A lot of great things happen that we can’t possibly fit into our eNewsletter or on our website, so connect with us on Linkedin to stay updated!
Key Drivers of Revenue and Profit at Machine Shops July 9 @ 11:30 am
Join IMEC and Gardner Intelligence for an overview of what really drives high performance at machine shops. The presentation will cover the key drivers of gross sales/machine, gross sales/employee, and profit margin.
Security Today! July 10 @ 12:00 pm – 1:30 pm Prepare, Protect, Respond! Now more than ever, physical and cybersecurity in the workplace is essential to protect against theft and safety of your team. This webinar will guide you in growing your organization’s security function, built upon best practices and lessons learned from security experts.
From Hindsight to Foresight: Reorienting Manufacturing to Return to Growth July 15 @ 11:30 am IMEC & MAPI share data-driven insights of where the manufacturing industry has been and where we’re going with data-driven insights on the topics of business resiliency and the business trajectory for the second half of 2020, plus trends of remote work, digital transformation and on-shoring.
Optimizing Liquidity in an Uncertain Market/Environment July 22 @ 11:30 am Managing liquidity – cash or assets an organization has to cover its obligations – is just one piece of the manufacturing financial puzzle. Take a fresh look at your liquidity management policies and procedures to help manage your cash as effectively and efficiently as possible — and possibly still pick up some yield. This session is presented by BMO.
Safe Return to Business Travel July 29 @ 11:30 am As your company prepares for employees to resume business travel, there are many considerations from employee safety to cost containment as we expect business travel costs to increase in the post-COVID era. Join IMEC and Options Travel for tips to craft policies and expectations to ensure safe and cost-effective travel.
ICMYI: Download Past Webinars
Recordings of all past webinars and resources are available on demand. Visit the IMEC Coronavirus: News & Updates Page to download and listen. Webinars are available in the topic areas of:
How to Upskill Workers When You Cannot be Face-to-Face
We all know how much has changed, and the future is still unknown. What we do know is that virtual learning, once an experimental option for high tech offices, has become a new reality.
Common Themes from Employee Engagement Pulse Surveys to Guide Leaders as Employees Return to Work
As companies transition back to normalcy, it is important for leaders to gain insight from employees to make sure the workplace and company culture return to a place of stability as quickly as possible.
Leaders: It is Time to Walk the Line – Listening and Responding to your Customers and Employees
Seemingly, it is OK to explain away poor service and quality “because of COVID”. Understandably, our companies are challenged to perform. As leaders, we have likely taken our eye off the basics while dealing with the onslaught of uncertainty.
While it’s impossible to pinpoint the timing of an economic pullback or recession, it is possible to take steps to help protect your business during such an event, as well as create ongoing resilience and prepare for the upswing!
7 Manufacturing Digitization Challenges — and How to Overcome Them
AI-powered robots, 3D printing, IoT…there’s a whole world of advanced manufacturing technology and innovation just waiting for small and medium-sized manufacturers (SMMs) who want to step up their digital game.