More than a year and a half into the pandemic, many small businesses are unsure if they will be able to recover after fighting to stay above water and accruing crippling debt. Small business owners of color, women and immigrants have been disproportionately impacted by the pandemic as they’ve faced barriers to accessing federal relief programs and traditional lending. Small business owner Daysi Del Rosario Rivas Peralta is one example.
Insights into the world of small business lending and development
Federal relief programs for small businesses are slowly coming to an end, and with only a few months left in the year, we’ve put together a list of resources that may have already expired or are about to expire.
As the global marketplace continues to rapidly grow and change, small businesses in the United States are considering ways to expand their reach and operations as they emerge from the COVID-19 pandemic. According to the U.S. Small Business Administration (SBA), nearly 96% of all consumers live outside the United States, while two-thirds of the world’s purchasing power is in foreign countries.
The American Rescue Plan provides assistance in the form of tax credits to small employers who provide paid time off to employees for situations related to COVID-19 vaccination or illness. Small business owners may claim these credits on their quarterly taxes, but the deadline to file is just around the corner. Here’s what you need to know to determine if your small business is eligible and how to benefit from these tax credits.
The U.S. Small Business Administration (SBA) is hosting National Small Business Week from September 13-15 in an all-virtual summit, honoring the nation’s 31 million small businesses and their perseverance, ingenuity, triumphs, and creativity amid unique challenges brought on by the global pandemic.
This is the fourth post in a series on the basics of building a more resilient business to help you navigate unforeseen challenges.
The federal government created the Employee Retention Credit (ERC) in response to the detrimental effects of the COVID-19 pandemic on small businesses. As part of the CARES Act, the ERC offers tax credits to encourage more businesses to retain employees during the pandemic, as a temporary measure.
Learn more about the tax credit and its eligibility requirements.
Now that the Paycheck Protection Program’s (PPP) loan forgiveness is underway, the U.S. Small Business Administration is making changes to its forgiveness process to help streamline the review of revenue reduction documentation.
While small businesses await further guidance from the agency, here are some key things to keep in mind as you navigate the PPP loan forgiveness process.
Revenue Reduction Score (RRS): What is it?
This is the third post in a series on the basics of building a more resilient business to help you navigate unforeseen challenges. Check out our post on building your online presence and protecting your small business from cyberattacks. Stay tuned for future posts in this series!
This is the second post in a series on the basics of building a more resilient business to help you navigate unforeseen challenges. Check out our post on building your online presence and stay tuned for future posts in this series!
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