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.
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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.
Yelp’s 2016 Request-A-Quote system has undergone an overhaul in the past year, and its newest iOS update will launch a revamped hiring experience to better connect local contractors and small businesses with clients and potential leads.
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.
Curious businesses can see if their Facebook Page qualifies for the paid online events feature through Facebook. Eligible businesses will need to meet Facebook’s partner monetization policies to make money off of events hosted through the social network.
When small businesses shut down in early March as a response to the threat of the novel coronavirus, a new normal began to emerge from the changing landscape. Now, midway through August, questions about the future still linger, but business owners are no longer thinking about short-term solutions. COVID is here to stay, additional government support is in limbo, and if a small business is going to survive, it needs to embrace the eCommerce pivot, specifically.
Is your business still in need of funding due to COVID-19 and its effect on the economy? The PPP program may be over and done with, but state, county, and city governments are tapping into CARES Act funds to deliver grants to local businesses. Find out how you can get money and funding for your small business.
Buying something now but paying for it later has always been a tantalizing concept. But the idea is gaining even more steam now thanks to current events. Traditionally, people turned to credit cards when they didn’t have the cash on hand to afford a purchase. Today’s consumer is increasingly wary of credit card debt, however, and interest in other avenues has grown. Not surprisingly, a bevy of buy now, pay later (BNPL) services have sprung into action to meet the need.
It’s been a rocky ride for small businesses since the start of the coronavirus pandemic. But a recent survey suggests that a rebound is on the horizon. The survey, put out by CNBC and SurveyMonkey, indicates that small business owners are more confident that their businesses will last another year.