Jan. 2, 2012, 12:05 a.m. EST

Payroll Mate Payroll Software makes it easy for employers, payroll service providers, accountants and payroll staffs to comply with the new IRS payroll withholding changes introduced by the Payroll Tax Cut Continuation Act of 2011.

CHICAGO, Jan. 2, 2012 /PRNewswire via COMTEX/ — Real Business Solutions ( http://www.PayrollMate.com ), a nationwide provider of payroll and 1099 preparation programs, is helping small businesses, accounting professionals and payroll service providers comply with the changes to the payroll tax law made in the Payroll Tax Cut Continuation Act of 2011 signed into law by President Obama on Dec. 23, 2011.

Nearly 160 million workers will benefit from the extension of the reduced payroll tax rate that has been in effect for 2011. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through Feb. 29, 2012. This reduced Social Security withholding will have no effect on employees’ future Social Security benefits.

All users of Payroll Mate 2012 will get the new payroll updates for free. The software maker is also advising small businesses that are still doing payroll by hand to start using a payroll software solution, which offers serious benefits, from increased payroll preparation efficiency to tangible cost savings.

Payroll Mate is always one of the first payroll preparation solutions to implement payroll updates and new government regulations. Year after year, thousands of businesses and accounting professionals trust Payroll Mate to do payroll and prepare payroll taxes.

Payroll Mate makes doing payroll easy, smooth, predictable, and of course affordable through a set of powerful and flexible payroll management capabilities that allow small businesses to operate smarter and save money. Below is a short list of what this payroll system can do:

Automatically calculates federal and state payroll tax withholding.

Supports different types of pay periods including weekly, biweekly, semimonthly and monthly.

Supports customizable income, tax and deductions categories.

Exports Payroll checks to Quicken and accounting software like Microsoft Office accounting.

Supports the following payroll forms: 941, 940, 944, W-2, W-3, California DE-6 , California DE-7 , Texas C-3 , Texas C-4, New York NYS-45, Illinois 941 and Illinois UI-3/40.

Can be used as QuickBooks payroll subscription alternative with the ability to export payroll data to QuickBooks software.

Supports income per mile and per piece.

Exports payroll reports to Excel, CSV and PDF.

Prints on Laser and Inkjet checks.

Prints on preprinted scannable W2 forms and W3 forms.

Generates comprehensive reports including payroll journal, tax liability and deposit requirement.

Generates Direct Deposit Files.

Prints MICR checks on blank check stock.

Give the payroll tax calculator from PayrollMate.com a test drive and see for yourself how easy managing payroll can be. Visit payroll tax software page.

SOURCE PayrollMate.com

December 27, 2011 02:01 PM Eastern Time

ROCHESTER, N.Y.–(BUSINESS WIRE)–Paychex, Inc., one of the nation’s leading providers of payroll, human resource, and employee benefits solutions for small and medium-sized businesses, today released its top 12 in ’12 list, containing the top 12 potential regulatory changes that America’s small businesses need to know about in 2012. Paychex works closely with the IRS and other government agencies on issues of importance and is constantly monitoring regulatory and compliance-related matters that impact its 564,000 clients.

“As we close the book on 2011 and prepare to ring in the New Year, Paychex is looking out for America’s small businesses by identifying the top 12 issues to follow as 2012 unfolds”

“As we close the book on 2011 and prepare to ring in the New Year, Paychex is looking out for America’s small businesses by identifying the top 12 issues to follow as 2012 unfolds,” said Martin Mucci, Paychex president and CEO. “Some of these issues will lead to changes that are made legislatively, and others may be changed through simple rule modifications. Regardless of the level of attention they receive, changes to each of these issues could require business owners to make significant adjustments to the way they manage their businesses.”

1. Job Creation – President Obama will continue working with Congress in 2012 to jump start hiring. While the President’s Jobs Bill wasn’t passed in the same form it was proposed, legislation was passed in 2011 to provide tax credits for hiring veterans and relief for the long-term unemployed. Additionally, after much debate, the temporary reduction of employee payroll taxes, due to expire on December 31, 2011, was extended for an additional two months and includes a new “recapture” provision, which applies only to those employees who receive more than $18,350 in wages during the two-month period. Pending further negotiations, the tax cut could potentially extend through 2012. Additional provisions that could be considered as part of the job creation effort include elements from the President’s proposal that have not yet been passed, including: earmarking funding for infrastructure projects and measures to help entrepreneurs and small businesses access capital and grow.

2. Worker Classification – The misclassification of workers is an issue that promises to receive more scrutiny in 2012. The IRS recently unveiled an opportunity for eligible employers to voluntarily reclassify workers as employees in exchange for partial tax relief from past federal employment taxes. In late 2011, the U.S. Department of Labor agreed to work with the IRS, as well as several states, to share information and coordinate enforcement to ensure that employees receive protections they are entitled to under federal and state law. Legislation in several states to increase fines for worker misclassification may also impact employers in 2012.

3. Deficit Reduction – Running parallel to the jobs initiatives are a series of proposals that focus on reducing the record-high federal budget deficit through spending reductions and tax increases. Many of the ideas on the table center on personal and business tax reform and the closing of current tax “loopholes.”

4. Immigration – The U.S. Government is strengthening efforts to crack down further on the employment of illegal immigrants through rigorous worksite enforcement and paperwork inspections of companies of all sizes. In 2012, state laws will require more private sector employers to register and utilize the federal E-verify system for employee verification, and most Federal contractors and subcontractors will continue to be required to use E-verify to determine employment eligibility. Congressional immigration reform proposals, which may include further federal employment verification obligations, are also possible in 2012.

5. Employment Law – Employers will need to keep current with federal and state legislative and regulatory developments that are likely to impact human resource practices. Many states now restrict the use of an employee’s credit information in employment-related decisions or are considering doing so. Additionally, the U.S. Department of Labor and many states have enacted or are considering regulations to provide greater transparency to workers. These regulations specifically focus on the amount and calculation of workers’ pay, especially as it relates to minimum wage and overtime requirements.

6. Security and Privacy – In 2012, businesses will continue to be challenged by security considerations. Instances of cybercrime and corporate bank account takeovers against small businesses are becoming more widespread. Employers should take security precautions such as using stand-alone computers for online banking, not clicking on attachments or hyperlinks from unknown sources, and working with their bank to implement fraud detection tools on their accounts. Onerous privacy and security breach regulations enacted in many states make this an even more important consideration for businesses.

7. Dodd-Frank – The sweeping Dodd-Frank financial regulatory legislation is primarily focused on Wall Street reforms and consumer protection. However, the increased burden it places on some industries, especially banks, may result in small businesses experiencing limited availability of, or higher costs for, credit or other financial services.

8. Health Care Reform – The Supreme Court is expected to rule in 2012 on the constitutionality of the individual mandate provision in the Affordable Care Act. The court’s decision, and the potential fallout, could have broad impacts to businesses.

9. Unemployment Insurance Implications – Congress is contemplating the reinstatement of the federal unemployment surtax, which would result in virtually all businesses seeing higher unemployment insurance taxes. Companies in many states will see higher taxes due to the repayment of outstanding federal loans that were taken to allow for continued payment of benefits and to replenish depleted state unemployment trust funds. Many states are also contemplating additional or more extensive employer reporting requirements in an effort to decrease unemployment insurance fraud.

10. 401(k) – In 2012, additional fee disclosures will be required by 401(k) service providers to plan sponsors, and by plan sponsors to participants, with the intention of providing greater transparency around retirement plan fees. The limits for contributions to those plans will increase in 2012. Other regulations that will be enacted in 2012, or are under consideration, include those that would broaden the definition of who would be considered a plan fiduciary, make investment advice more accessible to plan participants, and restrict the number of loans an employee can take from their 401(k).

11. Taxes – 2012 will bring a number of important tax changes, including a higher Social Security wage base and changes to transportation and adoption assistance benefit limits. The accelerated depreciation benefits available to most businesses for certain asset purchases which were in place in 2011 may expire or be scaled back in 2012. All employers will need to keep an eye on what are likely to be additional tax changes as the year progresses.

12. Form W-2 – The IRS further delayed the requirement for smaller employers to report the cost of employer-sponsored health coverage on employee Forms W-2, indefinitely postponing it until further guidance is issued. However, employers filing 250 or more Forms W-2 in 2011 are required to include this cost on the W-2 starting in tax year 2012. The health care amounts reported on the W-2 will be strictly informational and not taxable to the employee.

Second City Communications and Corpedia Release Funny and Engaging Video Called “Company Retreating” Exploring Boundaries and Privacy When Using Social Media At The Office

“Company Retreating” is One of Many Timely, Relevant Videos on Ethics and Compliance Topics Served Up In the Innovative Video Library Called RealBiz Shorts

CHICAGO–(BUSINESS WIRE)–Just because the boss can connect with employees through online social networks, is it a good idea?

“Very often, the do’s and don’ts of company social media policies are aimed at employees – which is important – but there’s also the issue of what happens when the boss connects to his/her staff in social networks”

And if managers do connect to employees online, how best to strike the right balance and not violate important ethics and compliance codes of conduct?

Those questions and others shape the focus of the new video “Company Retreating” in the RealBiz Shorts video library, the high-octane service from Second City Communications and Corpedia for engaging employees on important ethics and compliance topics.

“Very often, the do’s and don’ts of company social media policies are aimed at employees – which is important – but there’s also the issue of what happens when the boss connects to his/her staff in social networks,” said Steve Johnston, President of Second City Communications. “Privacy, discretion, boundaries – all those are important for managers to be conscious of with employees. And for many companies, it’s as simple as: Don’t be Facebook friends with people who report to you,” added Johnston.

Corpedia and Second City Communications innovated the funny and highly effective video library – RealBiz Shorts – to address a wide range of important issues around ethics and compliance — including harassment, fair employment, whistle blowing, privacy, political contributions, and using social media appropriately.

The RealBiz Shorts video, Company Retreating: How to Un-build a Team via Social Media, is one example. It highlights the importance of boundaries when connecting with employees via social media. View that video at: http://vimeo.com/32926939

“Companies are striving for new and innovative ways to reach employees and minimize risk around ethics and compliance,” said Tim Erblich, EVP of Corpedia. “The stakes are high – but you need to engage employees and really connect with them in order to influence behavior and train them. Innovative companies know that – and they’re constantly challenging us to come up with new ways to connect with and engage their people. RealBiz Shorts is one answer to that – especially with younger Millennials who consume so much video and use social media constantly,” added Erblich.

RealBiz Shorts are created with clients to ensure that they’re relevant to real issues. RealBiz Shorts also features videos on topics including code of conduct awareness, corruption & bribery, conflicts of interest, tone at the top leadership, and customer privacy policy – among others.

RealBiz Shorts is designed to add-in to existing education and training initiatives for ethics & compliance. Companies embed RealBiz Shorts in their online newsletters, use them as icebreakers for live trainings, and use them to market online training and certification programs internally.

In all, more than 100 organizations across business and government subscribe to one of the two RealBiz Shorts video libraries – the general ethics and compliance library (www.realbizshorts.com) or the Life Sciences library (www.realbizshorts.com/lifesciences).

RealBiz Shorts has subscribing organizations from across the business world, including: Microsoft, Dow Chemical, MasterCard, Miller-Coors, The Gap, United States Steel Corporation, Best Buy, General Motors, Hershey. Additionally, RealBiz Shorts Life Sciences services numerous clients, including Allergan, Bristol-Myers Squibb, Cardinal Health, Covidien, Johnson & Johnson, Medtronic, and Roche.

More information about RealBiz Shorts is at: http://www.realbizshorts.com

BuildMyBiz.com is Paychex’s latest effort to help new and established business owners succeed

ROCHESTER, N.Y.–(BUSINESS WIRE)–Paychex was founded in 1971 as a small business with a great idea and a commitment to make it work. Fast forward 40 years and Paychex has grown to become a nationally recognized leader in providing payroll, human resource, and employee benefits solutions to small- and medium-sized businesses. In an effort to help entrepreneurs and small-business owners achieve similar success, Paychex is launching a new website, BuildMyBiz.com, that provides tools and resources for starting, growing, and managing a business.

“It is small business that will lead the economic recovery, and one of the best ways we can help them do that is to provide a one-stop shop of information and resources to help them with all aspects of their business. BuildMyBiz does just that.”

With small businesses comprising 99.7 percent of all employer firms in the U.S. and half of all private sector jobs, according to the U.S. Small Business Administration, they play a significant role in the U.S. economy.

“In today’s economic environment, it’s important for entrepreneurs to have access to the information, tools, and resources that will help them succeed,” said Martin Mucci, Paychex president and CEO. “It is small business that will lead the economic recovery, and one of the best ways we can help them do that is to provide a one-stop shop of information and resources to help them with all aspects of their business. BuildMyBiz does just that.”

BuildMyBiz gives business owners access to expert information and resources, including articles, videos, white papers, and interactive tools that are provided by Paychex and through partnerships with other best-in-class service providers such as Biz2Credit, Standard Register, and business planning software leader Palo Alto Software. The site also links to online resources from the U.S. Small Business Administration.

Paychex is introducing BuildMyBiz with a week-long grand opening event that follows the steps it takes to start a business, with each day representing a different step:

* Monday: Getting Started – Creating a Business Plan and Finding Funding
* Tuesday: Business Tax Implications
* Wednesday: Life Cycle of Business Insurance
* Thursday: Develop and Sell Your Products
* Friday: Hiring and Managing Employees

New resources will be made available throughout the week, including: podcasts with industry experts, blueprints on creating a business plan and obtaining business insurance; white papers on improving employee performance and better employee management; and web seminars on what every business should know about 401(k) plans and navigating health insurance options. In addition, visitors to the site can take advantage of limited-time offers from Standard Register for half-off printing and from Biz2Credit for a free consultation with a loan specialist, half off an Equifax credit report, and free access to its BizAnalyzer tool.

While Paychex and its partners strive to provide tools and resources, it will be the interaction with the entrepreneur and small business owner community that proves most beneficial. Whether it’s through the comment function on BuildMyBiz.com or through social media channels such as the BuildMyBiz Facebook page and Twitter account, this dialogue with small business owners will help Paychex provide up-to-date, relevant information.

For more information about the creation of BuildMyBiz.com, check out Paychex CEO Martin Mucci’s welcome message, available on blog.BuildMyBiz.com.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers’ compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 564,000 payroll clients nationwide as of May 31, 2011. For more information about Paychex and our products, visit www.paychex.com.

About Biz2Credit

Founded in 2007, Biz2Credit is a leading credit marketplace connecting small- and medium-sized businesses with lenders, service providers, and complimentary business tools. The company matches borrowers to financial institutions based on business’ unique profile — completed in less than four minutes — in a safe, efficient, price-transparent environment. Biz2Credit’s network consists of 6 million users, 450+ lenders, credit rating agencies such as D&B and Equifax, and small business service providers including CPAs and lawyers. Having secured more than $500 million in funding throughout the U.S., Biz2Credit is widely recognized as the #1 credit resource for small businesses.

Affected Taxpayers, Tax Preparers and Relief Workers In 13 Counties Declared Disaster Emergencies Among Those Provided Extra Time To Pay and File Taxes

by New York State Department of Taxation and Finance

ALBANY, NY (10/31/2011)(readMedia)– The New York State Department of Taxation and Finance announced the extension of certain tax filing and payment deadlines for affected taxpayers, tax preparers and relief workers in counties that were declared disaster emergencies by Governor Andrew M. Cuomo.

The deadlines for most filings and certain tax payments that were due on or after October 29, 2011 have been extended to November 16, 2011. The extension includes quarterly Withholding Tax returns, the Metropolitan Commuter Transportation Mobility Tax (MCTMT) returns, and Highway Use Tax returns all of which were due on October 31, 2011. There are no extensions for Withholding Tax payments made using forms NYS-1 or the PrompTax system. There are also no extensions for MCTMT payments made through the PrompTax system.

Eligible counties are as follows: Albany, Columbia, Delaware, Dutchess, Greene, Orange, Putnam, Rensselaer, Richmond, Rockland, Sullivan, Ulster and Westchester.

“I hope this extension will provide some measure of relief to taxpayers experiencing hardship as a consequence of the extreme weather,” said Commissioner Thomas H. Mattox. “We recognize that some taxpayers and business owners may be experiencing power outages or other obstacles that prevent them from timely filing returns.”

For more information, taxpayers and tax preparers should visit <www.tax.ny.gov>. Phone calls may be directed as follows:

Forms and Instructions: 518.457.5431

Withholding Tax: 518.485.6654

Miscellaneous Business Tax: 518.457.5735

Plan Set for $7M Economic Development Aid for Storm-Tossed Businesses

by New York State Public Service Commission

ALBANY, NY (10/19/2011)(readMedia)– The New York State Public Service Commission (Commission) today announced approval of a petition submitted by New York State Electric & Gas Corporation (NYSEG) for three new economic development programs to provide up to $7 million in immediate assistance to qualifying customers in its service territory affected by Hurricane Irene and Tropical Storm Lee.

“Many customers within NYSEG’s service territory are recovering from the effects of Hurricane Irene and Tropical Storm Lee,” said Commission Chairman Garry Brown. “Record flooding has caused severe damage to many communities. In many areas, the electric and gas infrastructure, along with buildings and equipment necessary to operate certain businesses, have been destroyed. These programs will provide timely and meaningful assistance to customers and communities located in designated disaster areas within NYSEG’s service territory.”

The specific programs approved by the Commission are as follows:

* The Emergency Community/Municipality Assistance Program will provide funding to offset costs incurred by communities/municipalities for repair and replacement of customer owned gas and electric infrastructure. Grant awards are limited to one per community, and not to exceed $100,000.

* The Emergency Building Redevelopment/Revitalization Assistance Program will provide funding to offset costs incurred by commercial/industrial/larger farms agri-type businesses including food processing companies and large residential type establishment such as nursing homes, apartment complexes and multi-family units. This includes retail and mixed-use development facilities and educational/medical institutions. Grant awards are not to exceed $200,000.

* The Emergency Agriculture Assistance Program will provide funding to smaller farms and agri-type businesses to offset costs incurred for repair and replacement of customer-owned gas and electric infrastructure. Grant awards are not to exceed $50,000.

These emergency programs are designed to provide customers and communities with quick and immediate access to all available resources for the repairs and rebuilding necessary after the devastating effect of Hurricane Irene and Tropical Storm Lee. With the approval of these programs, communities and commercial businesses are encouraged to formulate their plans for projects to recover from the extraordinary damages caused by these storms as soon as possible.

The Commission order in this matter, when available, can be accessed on the Department’s www.dps.state.ny.us Web site by searching for Case 11-E-0559.

Array of Web Services Assist Businesses, Boost Government Efficiency, Save Taxpayer Dollars

by New York State Department of Taxation and Finance

ALBANY, NY (10/07/2011)(readMedia)– The New York Department of Taxation and Finance announced today that a record number of businesses have moved to the Web for all aspects of filing state taxes. By creating online service accounts, these users drove the Tax Department past a milestone of more than one million online account holders. More than half of these accounts-519,000 and growing-are for businesses. That’s triple the number of business account holders as compared with just one year ago.

“We’ll continue to enhance our online services so that business operators can focus on running and growing their businesses,” said Commissioner Thomas H. Mattox. “This will ease their administrative tasks and, at the same time, save New York State and its taxpayers millions of dollars through paperless processing and streamlined administration.”

Everyone from small shop owners to major corporations can file virtually all of their returns online. For the sales tax quarter ending September 20, 72% of returns were filed online, more than doubling last year’s rate of 31%. Over the past year:

• Web-filed withholding tax returns increased more than 230%.

• Web-filed corporation tax returns increased more than 75%.

• Business e-filing saved New York taxpayers $8.2 million in processing costs.

Taxpayers are quickly discovering the appeal, efficiency, and security of completing their tasks online. Online account users can:

• schedule payments directly from their bank accounts

• grant various levels of access to different tax professionals

• obtain Certificates of Authority to conduct business

• view a summary of their tax account and past tax filings

• respond to important notices and correct returns

• sign up for email notifications

Online filing also dramatically reduces errors associated with paper returns. To learn more about the online services, and view videos and online demonstrations, visit the New York Tax Department’s Online Services Web page at www.tax.ny.gov/online

Array of Web Services Assist Businesses, Boost Government Efficiency, Save Taxpayer Dollars

by New York State Department of Taxation and Finance

ALBANY, NY (10/07/2011)(readMedia)– The New York Department of Taxation and Finance announced today that a record number of businesses have moved to the Web for all aspects of filing state taxes. By creating online service accounts, these users drove the Tax Department past a milestone of more than one million online account holders. More than half of these accounts-519,000 and growing-are for businesses. That’s triple the number of business account holders as compared with just one year ago.

“We’ll continue to enhance our online services so that business operators can focus on running and growing their businesses,” said Commissioner Thomas H. Mattox. “This will ease their administrative tasks and, at the same time, save New York State and its taxpayers millions of dollars through paperless processing and streamlined administration.”

Everyone from small shop owners to major corporations can file virtually all of their returns online. For the sales tax quarter ending September 20, 72% of returns were filed online, more than doubling last year’s rate of 31%. Over the past year:

• Web-filed withholding tax returns increased more than 230%.

• Web-filed corporation tax returns increased more than 75%.

• Business e-filing saved New York taxpayers $8.2 million in processing costs.

Taxpayers are quickly discovering the appeal, efficiency, and security of completing their tasks online. Online account users can:

• schedule payments directly from their bank accounts

• grant various levels of access to different tax professionals

• obtain Certificates of Authority to conduct business

• view a summary of their tax account and past tax filings

• respond to important notices and correct returns

• sign up for email notifications

Online filing also dramatically reduces errors associated with paper returns. To learn more about the online services, and view videos and online demonstrations, visit the New York Tax Department’s Online Services Web page at www.tax.ny.gov/online

Array of Web Services Assist Businesses, Boost Government Efficiency, Save Taxpayer Dollars

by New York State Department of Taxation and Finance

ALBANY, NY (10/07/2011)(readMedia)– The New York Department of Taxation and Finance announced today that a record number of businesses have moved to the Web for all aspects of filing state taxes. By creating online service accounts, these users drove the Tax Department past a milestone of more than one million online account holders. More than half of these accounts-519,000 and growing-are for businesses. That’s triple the number of business account holders as compared with just one year ago.

“We’ll continue to enhance our online services so that business operators can focus on running and growing their businesses,” said Commissioner Thomas H. Mattox. “This will ease their administrative tasks and, at the same time, save New York State and its taxpayers millions of dollars through paperless processing and streamlined administration.”

Everyone from small shop owners to major corporations can file virtually all of their returns online. For the sales tax quarter ending September 20, 72% of returns were filed online, more than doubling last year’s rate of 31%. Over the past year:

• Web-filed withholding tax returns increased more than 230%.

• Web-filed corporation tax returns increased more than 75%.

• Business e-filing saved New York taxpayers $8.2 million in processing costs.

Taxpayers are quickly discovering the appeal, efficiency, and security of completing their tasks online. Online account users can:

• schedule payments directly from their bank accounts

• grant various levels of access to different tax professionals

• obtain Certificates of Authority to conduct business

• view a summary of their tax account and past tax filings

• respond to important notices and correct returns

• sign up for email notifications

Online filing also dramatically reduces errors associated with paper returns. To learn more about the online services, and view videos and online demonstrations, visit the New York Tax Department’s Online Services Web page at www.tax.ny.gov/online

Retail 101 With Macy’s
The Workshop at Macy’s, the retailer’s minority- and women-owned business development program, returns to identify and foster up-and-coming vendors. Applications for the program are now being accepted at www.macysinc.com/workshop. (Photo: Business Wire)
The Workshop at Macy’s, the retailer’s minority- and women-owned business development program, returns to identify and foster up-and-coming vendors. Applications for the program are now being accepted at www.macysinc.com/workshop. (Photo: Business Wire)

“The Workshop at Macy’s”, the retailer’s minority- and women-owned business development program, returns to identify and foster up-and-coming vendors

Applications are now being accepted for second Workshop at Macy’s

NEW YORK–(BUSINESS WIRE)–After a highly successful inaugural edition this past spring, Macy’s (NYSE:M) innovative business of fashion program, The Workshop at Macy’s, returns to mentor and foster growth for a new class of up-and-coming minority- and women-owned businesses. The retail 101 crash course, aims to take promising enterprises to the next level in order for them to achieve and sustain positive and successful vendor relationships. This industry-first initiative reinforces Macy’s long-standing commitment to vendor diversity and to providing customers with unique goods and services that meet their lifestyle.

“The relationships I was able to build within a week will span a lifetime; cheers to the magic of Macy’s!”

The Workshop at Macy’s is a four and one-half-day intensive training course developed by a consortium of experts from Macy’s Learning & Development, Macy’s Multicultural Merchandising and Vendor Development, Babson College, the nation’s leading business school for entrepreneurship, and with select Macy’s merchants and vendors. The specially-designed business development curriculum is aimed at minority- and women-owned retail businesses that are poised to succeed on a larger scale, but need real-world business practice information and perspective on large-scale vendor relationships to move to the next level and sustain growth. A potential goal of this annual program is to help create a pipeline of viable enterprises that will grow to become successful partners within Macy’s own vendor community. First held this past spring, the inaugural Workshop included 22 businesses that ranged from makeup/skincare companies to confectionaries, home textiles and ready-to-wear designers.

“The incredible success of our first Workshop this spring paves the way for a new set of entrepreneurs who are hungry to learn from our stable of experts about the ways they can grow their ventures,” said Shawn Outler, Macy’s group vice president of Multicultural Merchandising and Vendor Development. “The support and information made available to Workshop participants is invaluable in taking these businesses to the next phase of growth.”

The Workshop at Macy’s allows selected participants to collaborate with fellow aspiring vendors, gain access to industry experts and solicit one-on-one business coaching. The course work includes classes on merchandising and assortment planning, marketing, EDI, financial management and access to capital.

Of the first Workshop class, Ms. Outler noted, “The entire week served as a revelation for participants, who had many breakthrough moments. You could see things starting to click for them as the week progressed. While many participants came in focused on pitching their lines, at the conclusion of the course work, they came away understanding how merchants think and how to build that relationship. The financial management sessions led by Elizabeth Thornton of Babson College, were especially eye-opening. Every element of the Workshop at Macy’s was designed to enhance and create long-term success for their businesses.”

Michelle Tunno Buelow, founder and CEO of Bello Tunno, a previous participant, noted, “The Workshop at Macy’s challenged us to examine our business on an elevated level. It encouraged us to realistically look at our current infrastructure and strategy, dream bigger, then bridge the gap. The program was planned and executed in such a way that it empowered and inspired our team. We left the week armed with a toolbox for success, a plan for growth and the support of Macy’s.”

“The opportunity changed my perspective and gave my business the retail insider information it needed to exceed even my own limits,” said Kim Roxie, founder and CEO of LAMIK Beauty. “The relationships I was able to build within a week will span a lifetime; cheers to the magic of Macy’s!”

Macy’s is now accepting entries for consideration. To be eligible, an applicant must be the majority (51 percent or more of equity) owner, co-owner or otherwise have operational control (per applicable status rules) of a business that has been in operation for a least two consecutive years and be its primary decision maker. Eligible applications will include a 250-word biographical statement, look book/line sheets or images of product including costs, resumes on all owners, financial statements for the business for 2 years, fall within the minority- and women-owned definition of the program and provide verification of the business as a legal entity (i.e. Corporation, LLC, etc.), among other requirements. Applications must be submitted online or postmarked by Sunday, Jan. 22, 2012 by 11:59 p.m. ET. All information including full program requirements are available online at www.macysinc.com/workshop. All eligible applications will be reviewed and select applicants will be asked to attend an in-person interview. Final selections will be made after all prospective candidates are interviewed. The program will aim to invite at minimum 20 businesses to attend the course which begins in early May of 2012.

For more information on The Workshop at Macy’s, please visit www.macysinc.com/workshop.