For small business owners who may be considering the next stages of their lives, succession planning is a key step in standing down from your small business and/or transferring ownership of your business. While the process may be complex, determining ways to transfer ownership of a business can be rewarding, provide peace of mind and is key in planning for the future. Among those options, small business owners can choose to sell their business to family members or outside parties, sell their shares to a co-owner (if applicable), or extend employee ownership.
The COVID-19 pandemic has brought on numerous challenges for small employers, from supply chain disruptions to increased cyberattacks, which has forced them to rethink their marketing strategies to
In April, we celebrate National Financial Literacy Month, which serves as an opportunity to review your finances, assess your financial literacy and how it can help you take your business to the next level. In celebration of this special month, we reached out to some of our Venturize partners to get their thoughts on National Financial Literacy Month, key advice for business owners, and how their organizations work to support the small business ecosystem.
This post originally appeared on the Inland Empire Business Journal and in partnership with Black Cooperative Investment Fund.
In celebration of National Financial Literacy Month, Small Business Majority's Senior California Program Manager Josaline Cuesta hosted a Q&A session with Black Cooperative Investment Fund's Executive Director Kaine Nicholas on the importance of making financially savvy decisions as small business owners.
The U.S. Small Business Administration (SBA) recently announced an additional deferment period of principal and interest payments for existing COVID-19 Economic Injury Disaster Loans (EIDL). Borrowers have a total of 30 months of deferment period from loan origination on all COVID EIDL loans. This is a change from the previous deferral period of 24 months.
Below you will find some additional information about the new deferment period on EIDL loans:
Small business owners have time to file their 2021 tax returns until April 18, 2022. While the season is quickly approaching, many entrepreneurs may be wondering about new changes to filing taxes or the best software to utilize in order to stay on top of their fiscal responsibilities.
Below you will find a list of resources that can help you file your tax returns and stay on top of your fiscal responsibilities.
Microbusinesses in select counties in California may now apply for small grants from the California Microbusiness COVID-19 Relief Grant Program. The program, which is funded by the State of California and administered by the office of the Small Business Advocate (CalOSBA), provides competitive micro grants of $2,500 to eligible microbusinesses impacted by the COVID-19 pandemic and the related health and safety restrictions put in place.
Grants provide critical funding for small businesses that may need additional capital to start or grow their businesses. To celebrate Black History Month, we have compiled a list of grant opportunities available to Black entrepreneurs to help them grow their businesses and recover from the pandemic.Power Forward Small Business Grant
Accepting applications on a rolling basis
The Governor’s Office of Business and Economic Development launched the California Competes tax credit, a tax deduction program available to small businesses that want to relocate or stay and grow in California. All businesses, regardless of size, industry or location can apply to receive this credit during three application periods each year. Applications will be reviewed and analyzed on a number of factors, including number of full-time jobs created, investment amount, and importance to the state or region.
If 2020 and 2021 have taught us anything, it’s that preparation is key to running a small business, as are flexibility and determination to shift the course in unique situations. We’ve put together seven resolutions for small business owners to keep in mind as they navigate the new year.
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