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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.
The U.S. Small Business Administration (SBA) is hosting National Small Business Week from September 13-15, 2021 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.
Supply chain disruptions affect small business owners in different ways, resulting in reduced revenues, inflated costs, delayed production and delivery of products, which ultimately affects their ability to serve customers and make profits. We’ve compiled a list of strategies for entrepreneurs to help mitigate and manage supply chain disruptions in their businesses.
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. Below you will find more information 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.
Consumer spending habits have changed drastically during the COVID-19 pandemic, and a new reliance on online shopping is prompting small businesses to rethink their marketing strategies. We’ve compiled a few ways for small business owners to effectively utilize digital marketing to engage with their audience in this new post-pandemic landscape.
Cyberattacks are a growing threat for small businesses, and a recent U.S. Small Business Administration survey estimates that an astonishing 88% of small business owners are concerned about being vulnerable to cyberattacks. Many entrepreneurs don’t have the capability to afford IT professionals or don’t know where to start, but it’s important to learn about common threats, understand where your business might be vulnerable, and take concrete steps to improve your cybersecurity.
With COVID-19 restrictions easing around the country, small businesses are reopening their doors to the public and preparing for a busy season. Many business owners are looking for information about how to reopen safely to reduce the likelihood of COVID-19 transmission in the workplace, and preparation is key for a smooth transition. Here are four ways you can help educate your employees as they return to the workplace.