News (2421)
Covid Surge Worries Small Business
According to Yahoo News, the surge in Covid-19 across America is worrying small business owners who may not be able to withstand another shut down.
The resurgence of COVID-19 across the country this summer has deepened anxiety for millions of American small business owners who face another imminent cash crunch in their battle to survive a historic pandemic.
Read more...Some Business Didn't Apply for Payroll Protection
Many small businesses opted to forgo applying for a payroll protection loan, reports Motley Fool.
When COVID-19 emerged as a domestic threat back in March, local officials acted quickly, and that involved shuttering non-essential businesses in an effort to keep people in their homes and curb the spread of the virus. But while imposing lockdowns made sense from a health perspective, it was detrimental from an economic standpoint, as unemployment shot up overnight and countless small businesses began hemorrhaging cash in the absence of incoming revenue.
Read more...It's Easier for Businesses Owners to Walk Away
According to the Street, many small business owners are contemplating using bankruptcy, which is now easier for small businesses under the SMall Business Reorganization Act of 2019.
In 2008, homeowners walked away from mortgages. Thanks to the Small Business Reorganization Act of 2019 (SBRA), in effect as of February 19, 2020, small businesses have an easier shot at doing the same.
Read more...Jobs Can Be Done Remotely
According to the Guardian, business owners have had a revelation; that many jobs can be done remotely.
For years, many business owners my age – in our 50s, which by some accounts is about the average age of the typical US business owner – have complained about the younger, millennial generation.
Read more...Businesses Fear Second Shutdown
According to WHNT, having barely survived one shutdown, many small businesses fear they won’t survive another.
The economic shutdowns and confusing scramble for federal loans and other aid were hard enough for small business owners. But now they face even more hurdles in their bid to survive.
Read more...Small Business Get Relief Extension
President Trump has officially signed an extension for the small business loan relief program, reports CNBC.
President Donald Trump on Saturday signed into law a temporary extension of a subsidy program for small businesses battered by the coronavirus.
Read more...New Tech Tool Launches Empowering Amazon Shoppers to Support Small Businesses Amid COVID-19 Pandemic
As the coronavirus pandemic continues to have a devastating impact on America’s small business community, Tribe (jointribe.us), a tech company helping empower consumer spending, today launched a new, free tech tool specifically designed to aid and support small businesses across the country.
Read more...Small Businesses Expect to Fail
Even with help from the federal government’s Paycheck Protection Program and other loans/grants, many small businesses expect to close, reports CNBC.
Millions of small businesses have gotten federal aid to help weather the recession caused by the coronavirus pandemic.
Read more...Black Owned Small Business Loan Program at Hennessy
According to Black Enterprise, small businesses can apply for financial help from Hennessy’s Unfinished Business Program.
Hennessy is stepping up to help minority small businesses struggling with the effects of COVID-19 by providing immediate financial support through a new program called Unfinished Business.
Read more...Layoffs Coming Despite Loans
Despite getting funds from the Paycheck Protection Program many small businesses expect to layoff staff, reports CBS News.
A significant number of U.S. small business owners who got money from the government-backed small business coronavirus relief program say they will end up laying off hundreds of thousands of workers anyway.
Read more...
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