San Francisco Sun

San Francisco's recent election results have brought significant changes for local businesses. Proposition M, a measure that impacts business taxes and fees, is set to be approved by voters. The proposition aims to increase the Small Business Exemption threshold from $2 million to $5 million in annual gross receipts. This change is expected to exempt approximately 88% of restaurants and 50% of retailers currently paying Gross Receipts Taxes.

The passage of Proposition M will also eliminate $10 million in license fees annually by waiving 49 different fees. Furthermore, it introduces progressive tax rates across all categories, simplifying the city's business tax structure and distributing the tax burden more evenly among industries.

In other developments, the Vacant to Vibrant program has expanded to Union Square with applications now open on a rolling basis. This initiative provides small businesses, artists, entrepreneurs, and cultural organizations with free temporary space downtown for three months (with potential extensions), up to $10,000 in grant funding for expenses, and technical assistance focusing on marketing consultation and financial literacy.

Additionally, updates have been made to the Vandalism Relief Grant program. Businesses can now receive up to $2,000 per incident up to three times per calendar year for damages incurred during 2024.

PG&E's Simplified Savings Program offers support for small businesses located within Disadvantaged Communities by providing information and activities aimed at reducing energy bills.

Businesses are encouraged to join the San Francisco Green Business program run by SF Environment. Rebates and prebates of up to $1,000 are available for climate-friendly purchases or upgrades after completing the recognition process.

The Office of Small Business invites requests from communities interested in having resources shared directly with them. Contact sfosb@sfgov.org for inquiries.

Upcoming events include entertainment permit applications due December 9th for holiday events through the Entertainment Commission. Nonprofit organizations interested in operating Alemany Farmers’ Market must submit proposals by December 20th.

Entrepreneurs aged 50+ can apply for a free ten-week business training program starting January 27th, conducted by SF Tech Council and Blissen.

A reminder has been issued regarding new federal reporting requirements effective January 1st, 2025. Most companies must file Beneficial Ownership Information online; however, sole proprietors and non-profits may be exempt.

Local businesses can participate in the NBA All-Star Rewards Program as part of the upcoming NBA All-Star game festivities in San Francisco.

Lastly, various webinars and events are scheduled throughout November including sessions on government contracting certifications and branding strategies hosted by local organizations such as SF Public Library and Renaissance Entrepreneurship Center.