The U.S. Small Business Administration (SBA) Payroll Protection Program (PPP) served as a lifeline for small business owners facing hardships from the COVID-19 pandemic. The funds can be used toward eligible business expenses such as payroll, mortgage interest, rent, and utilities. The program closed on August 8th, 2020, and is no longer accepting applications. New guidance … [Read more...]
COVID-19: Research Shows Women and Minority-Owned Businesses Hardest Hit by the Pandemic
Recent research shows that women and minority-owned businesses in the U.S. have been hardest hit by the COVID-19 pandemic. The impacts have been drastic, according to research conducted by the Stanford Institute for Economic Policy Research (SIEPR). African American business owners suffered the greatest level of losses with a 41% drop in revenue. Hispanic business owners … [Read more...]
How Young Professionals Can Stay on Track During the Pandemic
I celebrated my 25th birthday in quarantine - a few weeks after the pandemic hit the US. I spent some time that evening ruefully thinking over the New Year’s resolutions I had eagerly established for 2020. There were such grand plans for my career this year! I would proactively invest in leadership development. I would make use of my company’s tuition reimbursement program … [Read more...]
Will the Next Stimulus Package be Enough to Help Women and Minority Owned Businesses?
On Monday July 27, 2020, the U.S. Senate Republicans proposed a new stimulus package for eligible Americans. The GOP proposal will be called the Health, Economic Assistance, Liability Protection and Schools Act (HEALS Act). Though the existing programs and pending proposals under the HEALS Act have been helpful to struggling small business owners, was there enough done by the … [Read more...]
Adapting Your Business to COVID-19 Times
There is no exaggeration in stating that the world now revolves around the COVID virus. Almost all the countries in the world have been hit by the virus, with some bearing the brunt while some others escaped with minor scrapes. The case is the same for businesses, some of them - like insurance, health care, etc. - were least affected by the virus while others - like … [Read more...]
How to Coronavirus-Proof Your Online Business
It's not the first time that unforeseen circumstances have dealt a heavy blow and shaken the foundation of businesses across the world - both new and established alike. But have you asked yourself why is it that when a sudden and unexpected change happens some companies are put out of business while others are able to quickly evolve and emerge stronger than before? It all … [Read more...]
States with the Most Affected Businesses and Unemployment Due to Coronavirus
Unemployment numbers updated with the most current data available on 4/23/20. We all know that the coronavirus crisis has significantly affected the U.S. economy with many small businesses shutting their doors and even more people unemployed. But which states are seeing the biggest impacts to unemployment and small businesses? WalletHub conducted research to find out, and … [Read more...]
Coronavirus Survival Resources for Small Businesses
The coronavirus crisis has had a significant negative effect an so many small businesses across the country, and it seems like the majority of small business owners are struggling to survive economically. Even when the economy opens back up, it will be extremely difficult for small businesses in a wide variety of industries to stay afloat. Fortunately, there are government … [Read more...]