Merchant Maverick’s latest report contains a clear finding: customer-facing service jobs easily replaced by technology will disappear at a stunning rate. Seven job categories affected by technological advancements are estimated to drop nearly 20% on average by 2029. This means that roughly one out of every five employees who leaves one of these jobs over the next decade will not be replaced.
The economy is floundering; there’s no two ways about it. However, a few industries have managed to wade through the darkness and actually grow amid a deadly pandemic. From eCommerce to delivery services to office equipment, parts of the economy have indeed pushed forward. Curious about the details of these booming industries? Let’s take a look at the numbers.
The new normal of our Covid world is starting to settle upon us and so are some of the new conveniences and trends born out of forced innovation in response to the global pandemic.
COVID Relief: You Could Get Partial Forgiveness, Increased SBA Guarantee, & More On 7(a) Loans & Microloans
In order to get the full eight months’ worth of forgiveness of principal and interest payments for these loans, your business will need to be in one of the industries identified by the SBA as particularly impacted by the coronavirus pandemic, such as food service, accommodation, education, arts & entertainment, and personal care services.
COVID-19’s destructive wake has damaged small businesses of all kinds, but those led by women have been disproportionately affected, based on a new report by Facebook. A survey found that 71% of women-led businesses in the US are operational or engaging in any sort of revenue-generating activity compared to 83% of those run by men.
Can your small business get multiple EIDL loans? Can you increase your EIDL size? Find out if it’s possible to get more relief funding from the EIDL program.
Minority-Run Small Businesses More Resilient Against COVID, But Many Struggle As Government Aid Goes Elsewhere
Recent surveys by SCORE and Union Bank highlight how minority-run businesses are optimistic about surviving COVID, though many still struggle due to lack of government aid. Read on for a comprehensive look at survey findings on the economic impact of COVID-19 on minority-owned small businesses.
One of the hottest business buzzwords during the coronavirus pandemic has been “pivot” — the concept of businesses reinventing and shifting strategies. By the numbers, small businesses across the US have indeed embraced the pivot: 92% reported changing at least one aspect of their business since the onset of COVID-19, according to data from a recent survey that was released online last week.
The EIDL is a low-interest, long-term loan for small business owners that have been impacted by COVID. These loans offer low, fixed rates and repayment terms up to 30 years. Businesses with fewer than 500 employees, certain nonprofits, and agricultural businesses can apply and be approved if they meet all criteria set by the SBA.
Even after the rollout of governmental aid programs in March, numerous small businesses still struggled to access PPP and EIDL funds while trying to survive the COVID crisis. Here are the top 5 reasons why the paycheck protection program and economic injury disaster loan program failed many small business owners in America.