Not every small business in the US is back to full operations. In fact, there are many still operating under tight restrictions. And it’s putting a dent in their finances.
However, there are opportunities for those small businesses continuing to struggle through the pandemic.
Early next week, June 30, is the final day to apply for a Paycheck Protection Program (PPP) loan from the Small Business Administration. And the SBA just brought back a tool on its site that can help any small businesses seeking one of these loans to get matched with a lender quickly. Check out our report on the deadline and the Lender Match tool: PPP Loan Deadline in June 30 – Still Time to Apply.
Also, check out this report on the success rate small businesses that apply for PPP loans are seeing: 64% of Companies Applying for PPP Funds Got Money
The SBA also recently re-opened its EIDL (Economic Injury Disaster Loan) program. This provides another option for small businesses struggling financially as a result of the COVID-19 pandemic. You can read more details on that loan program and how much is available in this report filed recently: EIDL Program Reopened for Eligible Small Business Companies
In other news this week, one industry advocacy group says the businesses it supports deserve some type of break or incentive from a potential future pandemic stimulus bill. And more companies are releasing tools and assistance in their own way for small businesses plotting their recovery plans.
You can check all this out in our weekly small business news roundup below:
Small Business News Roundup – June 26, 2020
Square Introduces On Demand Delivery Service
Square, providers of innovative processing solutions to help sellers grow their business, has introduced on demand delivery for Square Online Store sellers. Square On Demand Delivery Service Launched Sellers are now able to dispatch delivery drivers for orders placed directly on their website.
70% of Americans Want Travel Business Stimulus
It’s summertime but Americans simply aren’t traveling the way they normally do. And the travel businesses catering to those journeying here and there are hurting because of it.
Applications for New Businesses Dropped Considerably at Height of Pandemic
According to LendingTree, new business applications saw a record plunge in April at the heels of the pandemic outbreak. States hit hard observed new business application fillings had dropped showing the least number of applicants. The report reveals eight of the top 10 states where businesses applications dropped the most are located in the Northeast.
LinkedIn Makes Resources Available for Small Business Recovery
LinkedIn, the social network platform for business and business professionals has launched an online resource dedicated to small businesses for navigating the post lockdown period. LinkedIn for Small Businesses is offering free services that include tips, resources, business tools, courses, and recruiting services to help small businesses.
Auto Insurance Rates Worry Small Business Owners
The cost of auto insurance is a leading concern for small business owners. This was the finding of a study by vehicle and fleet safety specialists, CameraMatics. CameraMatics asked around 600 small business owners in the US, UK, and Ireland about the challenges surrounding busines vehicles. The responses were overwhelming related to the rising cost of auto insurance.
83% of Employees Rate Company Culture Very Important
Creating and maintaining a positive company culture is vital in the race to attract and retain valuable talent and employees. With US unemployment at an all-time high and working practices changing, the company culture of many businesses is evolving. In the current environment, company culture has never been so important.
Workplace Options Adapt is a Stress Test for Your Employees
Workplace Options just launched a tool to test your company’s reopening readiness. Adapt, as it’s known, is like a stress test for your company. And it’s really just a questionnaire. It helps measure employee and management experiences during quarantine phases of the COVID-19 pandemic. And it assesses readiness for future changes.
3 Customer Experiences That Get Social Media Attention
What gets your customers to share their experiences at your store with their friends? That’s what Avionos wanted to know in a recent survey it conducted.
Zenreach Predicts Retail Industry Returns to Normal on September 9
The marketing company Zenreach predicts a date when retail business will finally return to normal: September 9. That must be the one question weighing on every retailers mind right now. When will things go back to normal? Well, Zenreach is at least trying to pinpoint a date.
How to Limit Your Company’s Liability for COVID-19
On the Small Business Radio Show this week, I interview attorney Eric Swan and discuss steps that companies can take to limit their liability. States are finally moving to reopen their economies, and this means that many small business are inviting their employees to their office or retail site.
SAP Brings Enhancements to Business Technology Platform at Sapphire Now
SAP announced several improvements to its Business Technology Platform at its recent SAP Sapphire Now Reimagined virtual conference. The improvements include enhanced workflow management capabilities within the SAP Cloud Platform Extension Suite, simplified pricing for the Cloud Platform Integration Suite, and enhanced product integrations.
Federal Judge Rules in Favor of American Small Business League FOIA Request of Pentagon
U.S. District Judge William Alsup has ruled in favor of the American Small Business League (ASBL) in a case against the Department of Defense (DoD) over a Freedom of Information Act (FOIA) issue.
Paysafe Introduces Skrill Money Transfer for Zero-Fee Transactions to 18 Countries from the US
Small businesses often hire freelancers from overseas countries to cut operating costs. If you also do the same, then the latest news from Paysafe can delight both you and overseas freelancers who you hire. Recently, Paysafe announced the U.S. launch of its Skrill Money Transfer service.
