May 5, 2021

smallbusiness

3 Ways to Build Stronger Small-Business Communities in a Post-Covid World

Rodney Foxworth isn’t worried about Silicon Valley, New York City, or other capital-rich business hubs. Those ecosystems have a strong infrastructure in place to quickly rebound after the pandemic, says the CEO of Common Future, an Oakland, California-based advocacy group for community-based economic development across the U.S.

Conditions for less robust–but to this point emerging–business hubs aren’t looking too hospitable these days, however. The picture is even more bleak in rural and poor regions of the U.S.

A January 2021 study from Utah State University, Yale University, and New York University on well-being in the rural North American West found

Read More

U.S. Readies Small-Business Grants as P.P.P. Nears End

The federal government is preparing to open two new industry-specific small-business relief programs, one of them months in the works, as its signature pandemic aid effort, the Paycheck Protection Program, nears its end.

The Small Business Administration said it hopes to start taking applications by the end of this week for a $16 billion grant fund for live-event businesses like theaters and music clubs. The program, the Shuttered Venue Operators Grant, was supposed to begin nearly two weeks ago, but its application system malfunctioned and collapsed, stymieing thousands of desperate businesses that have been waiting months for the promised

Read More

How Franchising Aides In Small-Business Owner Support During Covid-19

Devin Haman is the CEO and Co-Founder of Beverly Hills Rejuvenation Center, the nation’s leading medical spa franchise.

The past year has not been a prosperous time for many businesses all over the world due to Covid-19. The global pandemic has changed the dynamics of almost every industry, but its impacts have not been proportionate. Large enterprises were better able to adapt and survive through the major impacts posed by the pandemic, but the brunt of the financial fallout has landed on small- and medium-sized businesses.

The problems being faced by small-business owners during these testing times are

Read More

Pandemic-inspired small-business loans expose inequities that must be fixed

When the pandemic struck just over a year ago and stopped our economy in its tracks, Congress responded with the largest small-business loan program in U.S. history.

When it concludes this May, the Paycheck Protection Program will have provided $784 billion in forgivable loans to nearly 4 million small businesses. Yet a shockingly small percentage of those loans have gone to Black- and Latinx-owned small businesses.

According to the U.S. Small Business Administration, which administers the PPP, of the 996,000 loans that included information on the borrower’s race, 71 percent of the money went to white-owned businesses. Only 12 percent

Read More

Cuomo’s NY leading the country in small-business closures, according to Facebook’s data

Just three days after New York Gov. Andrew Cuomo unveiled a plan to hike taxes on big business in the Empire State comes disturbing statistics about small business there.

According to new data from Facebook, New York tied with Pennsylvania for having the most small business closures in the country during the coronavirus pandemic, 

MLB ALL-STAR GAME BOYCOTT ‘CRUSHING’ FOR ATLANTA SMALL

Read More

Amazon Is the Target of Small-Business Antitrust Campaign

WASHINGTON—Merchant groups are forming a national coalition to campaign for stricter antitrust laws, including measures they hope could force Amazon.com Inc. to spin off some of its business lines.

The effort is being launched Tuesday by trade groups that represent small hardware stores, office suppliers, booksellers, grocers and others, along with business groups from 12 cities, organizers say. Merchants plan to push their congressional representatives for stricter antitrust laws and tougher enforcement of existing ones.

The groups, which collectively represent thousands of businesses, want federal legislation that would prevent the owner of a dominant online marketplace from selling its own

Read More