Resources and Policy Updates for Small Business Owners
Discover the new Venturize: Your ultimate small business resource hub!
We’re excited to unveil our brand-new Venturize website! Whether you’re a small business owner, employee or self-employed entrepreneur, our suite of educational programs and resources is designed to empower you to start, grow and thrive.
Meet the new Venturize—your fully bilingual, on-demand resource hub packed with tools and education on everything from securing financing to setting up retirement plans and accessing health insurance. New features include the ‘Start your business road map,’ easily accessible events and videos, and an updated grants portal—plus your guide to becoming grant ready. Venturize is here to help you make informed decisions with free, unbiased resources tailored just for you.
And that's not all! Our interactive tools connect you with local support organizations and mission-driven lenders. Plus, our Connect2Capital loan match platform makes finding the right funding easier than ever.
Stay ahead of the curve by joining the Venturize mailing list for the latest resources, financing opportunities, events and partnerships.
Small business resources
New overtime rule impacting small businesses: Pay thresholds changing in 2024
The U.S. Department of Labor recently announced a new final rule, which revises and updates the Fair Labor Standards Act (FLSA). The final rule raises the minimum salary for most workers exempt from overtime pay, altering how and when businesses must compensate employees for working overtime. Previously, salaried workers in certain executive, administrative and professional roles earning less $35,568 annually were generally exempt from overtime pay. Now, starting on July 1, 2024, businesses must provide overtime pay to salaried workers who earn less than $43,888 a year. Our latest blog on Venturize covers what small employers need to know about the new rule.
Time is running out to apply for $10,000 grants from Verizon!
The Verizon Small Business Digital Readyprogram is here to provide support for small businesses looking to stay competitive in the new digital economy. Their new grant program, available through June 28, 2024, can be accessed once you complete two qualifying courses on the platform.
New changes for PPP and COVID EIDL defaulted borrowers
The U.S. Small Business Administration (SBA) is now referring defaulted PPP and COVID EIDL borrowers to the U.S. Treasury Department and the Internal Revenue Service for collection on defaulted loans. Such borrowers may face significant consequences, including negative impact on credit scores; withholding of future state and federal tax refunds and any potential federal government funding (such as Social Security); and referral of your loan to private debt collectors to pursue repayment, who may use tactics like wage garnishment.
Please note:
Most PPP borrowers are still eligible for loan forgiveness. To learn more about how to seek forgiveness, review our guidelines.
Many COVID EIDL loans are eligible for relief options. Learn more about the assistance program that’s helping small business owners.
Small Business Majority hosts series with SBA Deputy Administrator Dilawar Syed
Over the past few months, Small Business Majority hosted a new small business engagement series with SBA Deputy Administrator Dilawar Syed who is responsible for overseeing the day-to-day operations of the agency, alongside the staff in the office of the Administrator, and the Associate Administrators across the SBA’s core program offices. At each event, small business owners learned about a different pressing issue and had the opportunity to ask questions and engage in conversations about the SBA’s impact.
Voice your views: How are you navigating the small business landscape?
This survey is the first in a new quarterly series looking at small business issues nationally. In this survey, we are interested in your views around recent legal cases involving small business programs targeted to demographic groups, such as the lawsuit against Fearless Fund, a grant program for Black women entrepreneurs.
This survey should take about 5-7 minutes to complete. Your feedback helps us to continue to advocate on your behalf.
Brick-and-mortar small businesses share views on public safety in their communities
Earlier this month, Small Business Majority released a new poll of brick-and-mortar small businesses that provides insights into their views on public safety in their communities. The survey reveals that these small business owners are more concerned about economic issues that impact their businesses than crime in their communities.
The poll also reveals they support the implementation of programs in their communities to support justice-impacted individuals or those struggling with mental health and addiction issues, and a plurality (46%) believe their tax dollars are better spent on alternatives to incarceration than law enforcement and policing activities.
White House hosts Midwest Regional Small Business Summit with Small Business Majority network members as guests
On May 31, Small Business Majority network members, alongside other small business owners and advocates attended the White House’s Midwest Regional Small Business Summit. The entrepreneurs met with U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman and other Biden-Harris administration officials to discuss the administration’s work to keep up America’s small business boom. The small business owners also provided input on how the federal government can help Main Street thrive.
Network member testifies on the impacts of price discrimination and consolidation
On May 22, Small Business Majority network member Alap Vora, owner of Concord Market in New York City, testified at a U.S. Senate Committee on Banking, Housing, and Urban Affairs Subcommittee hearing to discuss the impact of shrinkflation, price discrimination, and consolidation on small grocers and small businesses.
Decision in Fearless Fund Foundation case undermines underserved entrepreneurs and a more equitable society
On June 3 the U.S. Court of Appeals for the 11th Circuit made a decision in the case of American Alliance for Equal Rights v Fearless Fund Foundation, LLC, which blocks the Fund’s grant program for Black-women-owned businesses, ruling it to be ‘discriminatory.’
This decision was a massive disappointment for the small business community and overall sets a horrifying precedent that will impact charitable foundations and nonprofits across the country.
Small Business Majority’s research consistently finds that BIPOC entrepreneurs lag behind their white counterparts in a host of areas including access to capital. Fearless Fund Foundation should be commended for trying to address this problem. Instead, a court has decided that trying to right old wrongs has somehow harmed a group of people who already receive 99% of venture capital funding in the United States. Similarly, in a separate court decision this week, a judge halted a federal disaster-aid program for small minority farmers, finding it discriminates against white males.
Sign up for our new quarterly newsletter to receive more in depth updates about policies that impact small businesses and advocacy opportunities!
Small business spotlight
Texas entrepreneur creates connection for her community
When we last spoke with Jaja Chen in 2020, her business was adapting to survive the challenges of the COVID-19 pandemic. She and her husband and co-owner Devin started Waco Cha as a pop-up in the Waco Downtown Farmers Market in 2018 and later obtained a food truck. In March 2020, they opened their first storefront in Waco. However, opening in the middle of the pandemic was difficult, especially as they couldn’t open for dine-in until late summer. However, due to Waco Cha’s roots, they had the experience and model needed to facilitate to-go orders and outdoor catering through their food truck.
Read Jaja’s story
Colorado entrepreneur buys back the family business
Entrepreneurship runs in Dusti Budd’s family. Capitol Deli was originally owned by her step-dad, Steven Lloyd. Around 25 years ago, Dusti worked under him until he sold the business. Fifteen years later, Dusti was taking business classes at Colorado Mountain College, which required her to create a business plan. This later inspired her to buy Capitol Deli and open a location in Newcastle, Colo.
Small Business Majority welcomes two new members to our Board of Directors
Talibah Bayles is a Birmingham, Alabama native and national business advocate on a mission to bring genuine solutions for ignored small businesses. She is the driving force behind TMB Tax & Financial Services, a full-service tax advisory & small business financial wellness firm with clients across the United States. Talibah is also the Founder & CEO of Access Granted, Inc.—a 501(c)(3) with a mission to advance economic opportunity for women and minority-owned businesses.
Dafina Williams is the Executive Vice President, Chief Public Policy Officer and Head of Government Affairs at Opportunity Finance Network (OFN). With a keen focus on advocacy, she drives the organization’s efforts in public policy, legislative affairs, and regulatory initiatives. Prior to assuming her current role, Dafina played a pivotal role in shaping OFN’s policy agenda, concentrating on federal appropriations, small business policy and fair lending practices.
We’re excited to have both Talibah and Dafina’s insights as small business advocates!
Upcoming events
New laws & tax credits Colorado small business owners should know about | Conozca las nuevas leyes y créditos fiscales para empresarios en Colorado Monday, June 17, 2024 at 10:00am MT Register for this bilingual webinar »
Join Small Business Majority and other Colorado business organizations as we provide an overview of new laws and tax credits in 2024 that affect our small business community. In addition to these new Colorado laws, learn more about how to get your voice heard and how to help shape policies with your business in mind.
Únase a Small Business Majority y otras organizaciones comerciales de Colorado para recibir una descripción general acerca de las nuevas leyes y créditos fiscales en 2024 que impactan nuestra comunidad de pequeñas empresas. Además de conocer sobre estas nuevas leyes, aprenda sobre cómo puede dar sus opiniones y ayudar a cambiar las políticas del estado con su empresa en mente.
How California's ballot initiative in November will impact small business owners Tuesday, June 18, 2024 at 10:00am PT Register for this California webinar »
Please join Small Business Majority, California Work & Family Coalition and the California Budget & Policy Center as we dive into a new ballot measure that may appear on the November ballot sponsored by corporate interests that would exacerbate the challenges state and local governments face in raising revenues to support small business programs.
Join us to learn more about the new California Small Business Loan Match website and lender match resource. The webinar will feature representatives from IBank’s Small Business Finance Center, our technology partner and website developer Community Reinvestment Fund (CRF), and one of our program partners who can answer questions about the application process, loan readiness, responsible lending and more.
The weight of high hospital prices: Keeping workers and small businesses under water Thursday, June 20, 2024 at 1:00pm ET / 10:00am PT Register for this national webinar »
Our nation's healthcare affordability crisis not only harms patients and their families, it is actively hurting workers and small business owners. High and rising hospital prices are a hidden driver of stagnating wages for workers and higher operating costs for small business owners.
Families USA, Small Business Majority and leading labor and small business groups will break down what is at stake and how we can work towards solutions.
Optimizing your digital impact: Women uplifting women small business roundtable Wednesday, June 26, 2024 at 4:00pm ET / 1:00pm PT Register for this national webinar »
Join Small Business Majority for our quarterly Women Uplifting Women: Small Business Roundtable. Our topic for discussion this month is “Optimizing Your Digital Impact” with content expert Coolest Nerd Ever, who will cover best practices leveraging Google Analytics and SEO to drive business success.
What small business employers need to know about the Pregnant Workers Fairness Act Thursday, July 11, 2024 at 2:00pm ET / 11:00am PT Register for this national webinar»
Join Small Business Majority and the Equal Employer Opportunity Commission (EEOC) for an essential webinar about the Pregnant Workers Fairness Act (PWFA). With approximately 2.8 million pregnant workers in America’s workforce each year, it's crucial for employers to understand their responsibilities and how to support their employees effectively. This webinar will provide valuable insights and practical guidance to ensure your business is compliant and fostering an inclusive workplace.
California could curb private equity health deals
06/10/2024 | ALM Benefits Pro
The list of groups supporting the bill includes the Purchasers Business Group on Health and the Small Business Majority.
Bills battle an overlooked cause of talent shortages — lack of childcare
05/29/2024 | The Sum & Substance
A national poll released in April by the group Small Business Majority found 59% of small business owners cited a lack of childcare as an impediment to growth and 30% had workers leave because of a lack of childcare.
Why the Biden administration might like a Trump-era health policy
05/29/2024 | Politico Pro
The Small Business Majority, another group that opposes ICHRAs, worries that large employers offering the arrangements are divvying up their workforce, sending some employers to the group market and giving others stipends to purchase individual coverage, which could muddy risk pools in the ACA marketplaces.
Illinois House lets down small business owners by not passing loan rate-disclosure bill
05/27/2024 | Chicago Sun Times
While I’ve been fortunate to come out of the other side of this experience with my business intact, no small business owner should have to navigate this situation. That’s why I’m disappointed the Illinois House is not moving forward with Senate Bill 2234, “The Small Business Financing Transparency Act.”
Bill calling for interest rate disclosures on small business loans dies in Illinois House
05/21/2024 | Chicago Sun Times
“Despite the evidence and support behind reform, Illinois small businesses will continue to be targeted by nonbank lenders charging exorbitant interest rates — unbeknownst to the borrower — thanks to the inaction of House committee members,” said Tasha Brown, Small Business Majority’s Midwest director
It's not just housing: Another soaring cost is squeezing employees
05/20/2024 | The Business Journals
In a recent Small Business Majority survey of small-business owners who are parents or have employees who are parents, 59% said a lack of access to affordable child care is hindering their business growth. About 59% said child-care issues forced them to take substantial time away from their business, while 58% said a lack of affordable child care made it harder to start their business.
More US parents than ever have paid leave this Mother’s Day - but most still don’t
05/12/2024 | Associated Press
The new benefits came too late for Carrie Martin-Haley’s family. Neither Martin-Haley, a small business owner in Denver who gave birth to her son in September 2023, nor her husband had any paid time off, so Martin-Haley had to put aside her dreams of opening a brick-and-mortar storefront for her business, Summit Sustainable Goods. “That’s been hard to sit with,” said Martin-Haley, who shared her story through Small Business Majority, an advocacy group that is campaigning for federal paid family leave.
View all of Small Business Majority's media hits here.
Meet the new Venturize—your fully bilingual, on-demand resource hub packed with tools and education on everything from securing financing to setting up retirement plans and accessing health insurance. New features include the ‘
The U.S. Department of Labor recently announced a new final rule, which revises and updates the Fair Labor Standards Act (FLSA). The final rule raises the minimum salary for most workers exempt from overtime pay, altering how and when businesses must compensate employees for working overtime. Previously, salaried workers in certain executive, administrative and professional roles earning less $35,568 annually were generally exempt from overtime pay. Now, starting on July 1, 2024, businesses must provide overtime pay to salaried workers who earn less than $43,888 a year. Our latest blog on Venturize covers what small employers need to know about the new rule. 
The U.S. Small Business Administration (SBA) is now referring defaulted PPP and COVID EIDL borrowers to the U.S. Treasury Department and the Internal Revenue Service for collection on defaulted loans. Such borrowers may face significant consequences, including negative impact on credit scores; withholding of future state and federal tax refunds and any potential federal government funding (such as Social Security); and referral of your loan to private debt collectors to pursue repayment, who may use tactics like wage garnishment. 
On May 31, Small Business Majority network members, alongside other small business owners and advocates attended the White House’s Midwest Regional Small Business Summit. The entrepreneurs met with U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman and other Biden-Harris administration officials to discuss the administration’s work to keep up America’s small business boom. The small business owners also provided input on how the federal government can help Main Street thrive. 
On May 22, Small Business Majority network member Alap Vora, owner of Concord Market in New York City, testified at a U.S. Senate Committee on Banking, Housing, and Urban Affairs Subcommittee hearing to discuss the impact of shrinkflation, price discrimination, and consolidation on small grocers and small businesses.
When we last spoke with Jaja Chen in 2020, her business was adapting to survive the challenges of the COVID-19 pandemic. She and her husband and co-owner Devin started Waco Cha as a pop-up in the Waco Downtown Farmers Market in 2018 and later obtained a food truck. In March 2020, they opened their first storefront in Waco. However, opening in the middle of the pandemic was difficult, especially as they couldn’t open for dine-in until late summer. However, due to Waco Cha’s roots, they had the experience and model needed to facilitate to-go orders and outdoor catering through their food truck.
Entrepreneurship runs in Dusti Budd’s family. Capitol Deli was originally owned by her step-dad, Steven Lloyd. Around 25 years ago, Dusti worked under him until he sold the business. Fifteen years later, Dusti was taking business classes at Colorado Mountain College, which required her to create a business plan. This later inspired her to buy Capitol Deli and open a location in Newcastle, Colo.
Talibah Bayles is a Birmingham, Alabama native and national business advocate on a mission to bring genuine solutions for ignored small businesses. She is the driving force behind TMB Tax & Financial Services, a full-service tax advisory & small business financial wellness firm with clients across the United States. Talibah is also the Founder & CEO of Access Granted, Inc.—a 501(c)(3) with a mission to advance economic opportunity for women and minority-owned businesses. 
Dafina Williams is the Executive Vice President, Chief Public Policy Officer and Head of Government Affairs at Opportunity Finance Network (OFN). With a keen focus on advocacy, she drives the organization’s efforts in public policy, legislative affairs, and regulatory initiatives. Prior to assuming her current role, Dafina played a pivotal role in shaping OFN’s policy agenda, concentrating on federal appropriations, small business policy and fair lending practices.
