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.
According to survey results released earlier this week by mobile payment company Square and market research firm Wakefield Research, 76% of US small business owners plan to give workers time off to cast their votes in the 2020 presidential election.
Another round of PPP funding may be in the works, but the odds aren’t looking great. Here’s everything your small business must know about the PPP reopening.
A retail group is pushing Oct. 10 as 2020’s big shopping event. Could the 10.10 online shopping festival help your retail business’ 2020 holiday season? Read on for more details about 10.10, as well as information about how you can participate in this year’s answer to Black Friday.
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.
Oregon businesses physically impacted by wildfires in eight counties are now eligible for low-interest federal loans through the Small Business Administration (SBA). Businesses in 14 adjacent Oregon counties and two California counties may also seek financial support through the SBA’s economic injury loan program.
In light of the devastating blow wildfires have dealt Northern California in 2020, the SBA is opening up its disaster relief programs for impacted businesses. Businesses within the eight impacted counties are eligible to receive federal funding of up to $2 million, per the SBA’s fact sheet. Should a business receive funds through the SBA, it can use the cash to “repair or replace disaster-damaged property.” Read on for more information.
Sobering numbers came out this week via a Mastercard survey, which indicates that 38% of respondents in the US and Canada are seeing cash flow problems due to COVID-19. If their numbers don’t pick up, these businesses will be left in a lurch — nearly half (48%) of the surveyed owners said their business is just one missed payment away from closure.
Any business that is majority Black-owned and has between one and 50 employees may apply for grants worth $4,000 each — $2,500 in cash and $1,500 in Facebook ad credit. This means that Facebook plans to support up to 10,000 Black-owned businesses through the grant program.
In a survey that collected the responses of 5,265 small business owners worldwide, internet domain registrar GoDaddy found that 71% of entrepreneurs anticipate their business will recover from COVID-related losses within the next year. This optimism is despite the economic wreckage the pandemic has brought to 2020.
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