By SBE Council at 28 March, 2020, 9:00 am
UPDATED March 28, 2020
By Karen Kerrigan-
The effects of the coronavirus have hit small businesses more painfully. Governments have placed restrictions on business activity and public mobility. Plunging small business revenues are taking their toll on jobs and small business viability. Let’s hope that containment strategies will make this a short-term crisis, and we can all get back to business “as usual.”
Until that time arrives, I’ve put together resources for small business owners. This page, which will be updated frequently if not daily, includes advice from business experts, important information from key government agencies (like the Center for Disease Control – CDC, SBA, IRS/U.S. Treasury and DOL), resources from our trusted allies, and coronavirus response legislation – the CARES Act – which has been signed into law.
There is massive uncertainty regarding the full impact of the coronavirus and how long economic activity will be on lock down, but we know small businesses are resilient and innovative.
Business owners can play a key role in encouraging calm by communicating with employees and customers about what they are doing to ensure products and services are being delivered in a well-thought-out and hygienic manner, and what owners are doing in their own “small” way to contain the virus’s spread and keep workers healthy and safe. The cumulative actions of millions of small businesses can have a massive impact on helping the virus to pass.
Feel free to share resources, articles of interest, or tips that we can include on this page. Please send them to info@sbecouncil.org.
CARES Act: What’s in it for Small Businesses, the Self-Employed and Gig Workers
In this update, SBE Council president & CEO Karen Kerrigan covers small-business related provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which President Trump signed on March 27. Key details and links are provided covering the new SBA 7(a) loan Paycheck Protection Program, positive changes to the “economic injury” disaster loan program, and tax relief and reform changes.
