Tag: SmallBusiness

Senate GOP to Vote on More Small-Business Relief Next Week Despite No Stimulus Deal

As Congress and the White House continue their stalemate over another pandemic stimulus package, Senate Majority Leader Mitch McConnell plans to hold a vote next week on a “targeted relief” measure that focuses on replenishing the Paycheck Protection Program (PPP) for small businesses.



a person holding a bicycle: Senate Majority Leader Mitch McConnell (R-KY) walks through the Senate subway after a vote on the Senate floor at the Capitol in Washington on October 1 in Washington, DC.


© Photo by Tasos Katopodis/Getty
Senate Majority Leader Mitch McConnell (R-KY) walks through the Senate subway after a vote on the Senate floor at the Capitol in Washington on October 1 in Washington, DC.

The move will come just days before the Nov. 3 election and amid a fierce political debate over confirming Supreme Court nominee Amy Coney Barrett.

While Democrats will almost certainly block the legislation from advancing to a final vote by filibustering it—as they did with a previous piecemeal bill by Republicans—it will offer vulnerable GOP senators last-minute political ammunition as voters prepare to cast their ballots.

“Unless Democrats block this aid for workers,

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Motivating Trends: Building Small-Business Resiliency in a Pandemic


Covid-19 turned the world upside-down in March and businesses of all sizes were presented with never-before-seen-challenges. The way we work, sell, service and market to customers has forever changed.

Six months later, how are growing small- and medium-size businesses (SMBs) handling the new economy? Join us for a free webinar, Motivating Trends: Building Small-Business Resiliency in a Pandemic, to find out. During this live conversation, we’ll uncover data-backed insights and strategies from new research gleaned from more than 2,000 SMB leaders from around the world.


Journalist and CultureBanx CEO Kori Hale will interview renowned keynote speaker, futurist, award-winning author, and Global Innovation Evangelist for Salesforce, Brian Solis. For nearly three decades, Solis has helped executives of leading brands and startups understand what’s happening and why, visualize future trends, and deliver the future they want to see.



Attendees of this webinar will

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These small-business owners are still making it work, coronavirus and all


Photo courtesy Hello Robin

In the frantic days of late March, as the coronavirus panic burst forth and cities and towns began to impose lockdown orders, MarketWatch spoke to four small-business owners from around the country.

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All four were successful, and most were planning some form of expansion in what then seemed like a booming economy. Yet even as early as March, these owners had already tasted some of the new normal and pivoted to other business strategies.

Each knew the hard part still lay ahead.

In early October, we reached out again to to see how they’ve made it through. There have been more downs than ups over the past few months, but amazingly, all four owners expect their 2020 business to be not far off what they’d anticipated before the virus hit.

Each expressed a sense of being lucky, and of watching the disparate economic

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Building Small-Business Resiliency in a Pandemic

Covid-19 turned the world upside-down in March and businesses of all sizes were presented with never-before-seen-challenges. The way we work, sell, service and market to customers has forever changed.



Brian Solis standing in front of a store


© briansolis.com


Six months later, how are growing small- and medium-size businesses (SMBs) handling the new economy? Join us for a free webinar, Motivating Trends: Building Small-Business Resiliency in a Pandemic, to find out. During this live conversation, we’ll uncover data-backed insights and strategies from new research gleaned from more than 2,000 SMB leaders from around the world.

Journalist and CultureBanx CEO Kori Hale will interview renowned keynote speaker, futurist, award-winning author, and Global Innovation Evangelist for Salesforce, Brian Solis. For nearly three decades, Solis has helped executives of leading brands and startups understand what’s happening and why, visualize future trends, and deliver the future they want to see.

Attendees of this webinar will learn:

  • The top trends impacting SMBs
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Small-Business Loans Will be Forgiven, but Don’t Ask How

“We’re super nervous about the fact that we don’t know what’s going to happen,” she said. And the loan was only a temporary salve: With her revenue still down at least 30 percent, Ms. Kujala is preparing to lay off one of her employees.

A U.S. Bank spokesman said the bank was sending out invitations in stages to its forgiveness portal. After the bank was contacted for this article, a representative told Ms. Kujala that she would get an invitation soon.

Most borrowers — and their lenders — can afford to wait before seeking loan forgiveness. The CARES Act, which created the P.P.P., initially set repayments on any remaining debt to begin six months after a loan was disbursed, but Congress later revised the law to give borrowers as long as 16 months to apply for forgiveness. For most borrowers, that means the issue won’t become urgent until mid-2021.

But

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New Survey Finds Nearly Half of Small-Business Owners Don’t See a Need for Physical Stores (Infographic)

An August survey of 500 small-business owners found they’re instead focusing on digital sales.

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Despite the challenges of the past seven months, stories of resilience abound as business owners adapt to changing customer demands. Though surveys at the beginning of the pandemic indicated small-business owners thought things might be beyond hope, that’s slowly started to change. 

A survey by website and marketing solutions provider Bluehost released last week asked 500 business owners with fewer than 100 employees how they’ve transitioned online, adapted to ecommerce and adjusted their outlooks on future pain points, obstacles and potential opportunities. Not surprisingly, business owners cited their biggest concerns revolve around securing new customers, the continued economic impact of the pandemic and lower consumer demand. 

Related: Nearly Half of Business Owners Think the Changes They’ve

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Mayor Breed nominates small-business owner to SFMTA board after previous pick’s rejection

San Francisco Mayor London Breed nominated small-business owner Manny Yekutiel on Monday to the San Francisco Municipal Transportation Agency’s board.

Yekutiel, owner of restaurant, bookstore and political event space Manny’s in the Mission, is also a member of the city’s Small Business Commission and board member of the Valencia Corridor Merchants Association.

The nomination, which requires Board of Supervisors approval, would fill the sixth of the seven SFMTA board positions. In August, the Board of Supervisors rejected Breed’s nomination of transit advocate Jane Natoli and approved nominee Sharon Lai, a former city planner. Breed called the board’s rejection of Natoli’s appointment a “deeply cynical move that represents what is wrong with San Francisco politics.”

Natoli would have been the first transgender woman to serve on the board that oversees a huge swath of the city’s transportation and transit infrastructure, including Muni’s budget, parking and safe bike lanes.

The SFMTA board

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Small-business owner throws in the towel, lives to fight another day

Last March, I enlisted to fight coronavirus. I ranked nonessential as a small-business owner of a clothing consignment shop, a business that is all about “upcycling” — creative reuse of things. I immediately mobilized to close the store door. Until further notice, the lack of business income required a hunk of my savings to pay bills and taxes.

The end of May, in compliance with New York Forward, I reopened the store door and enforced regulations designed to combat coronavirus. Mandated masks. Respected social distancing. Cleaning. Cleaning. Cleaning.

Business sales were slow through June. Rent went unpaid. Bills kept coming.

The writing was on the wall. Debt.

With an ear to the ground, I heard about a small-business loan that offered 75 percent forgiveness. I contacted state officials for details. One detail gave me pause.

It wasn’t the fact that because I have no employees, forgiveness would not come my

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Town Hall provides information on nine small-business assistance programs

Approaching the year’s final quarter, many small businesses across the state are still in need of COVID-19 relief funds, and each month there are new grant opportunities. University of Nevada, Reno Extension continues its online town hall and webinar series this week to assist small-business owners, with Wednesday’s town hall providing information on nine different small-business grant and loan programs. Participants will learn about what assistance the programs provide, the program deadlines, who qualifies, and how to apply.

“We don’t want our small-business owners to miss out,” said Buddy Borden, economic development specialist with Extension’s Business Development Program. “While it’s great that assistance is available through various programs, having so much information constantly rolling in from multiple sources can be overwhelming. At this town hall, we’ll help business owners sort it all out and answer their questions.”

Friday’s webinar will help small-business owners with the bookkeeping aspect of receiving assistance

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During Financial Challenges, Small-Business Insurance Fees Matter More Than Ever

Dennis Dix is Chief Operating Officer at Cerity, an Austin-based data and analytics start-up offering workers’ compensation insurance.

Small-business fees for things like insurance and payroll services always eat away at the bottom line, but as the pandemic drags on, business owners should be increasing their awareness of how to keep these fees under control. Fortunately, several new-model services offer significant savings for businesses in the know.

Today, small businesses can take advantage of significant cost savings when processing payroll. Additionally, worker’s compensation insurance providers could potentially save business owners big money — with the right technology, no commissions and no upfront costs. 

The Future: Direct-To-Consumer Worker’s Compensation

Like never before, small business owners are learning, evaluating and making greater purchasing decisions completely online. As consumers themselves, owners’ expectations are higher. To be successful these days, insurers cannot simply rely on their domain expertise to attract buyers. Now,

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