As developments continue to unfold in response to the spread of COVID-19, we know many small businesses have questions about implications in the workplace and funding options to help bolster their businesses during this difficult time. We are compiling relevant tips and resources and information on new funding opportunities, how to get your business online and how to manage your employees. Access a list of national, state and local resources on emergency loans and grants, paid leave, unemployment, and more. New resources are added daily as information becomes available.
Venturize is a free online resource hub for small business owners like you who need help accessing tools and resources to grow their businesses. Managed by Small Business Majority, Venturize offers unbiased education and resources about small business loans, retirement and healthcare to empower entrepreneurs to make the best financial decisions for their business. We also help small businesses get connected to trusted local providers that can help their enterprises grow.
With 31.7 million small businesses in the country employing nearly half of the workforce, small businesses continue to struggle to rebuild in the wake of the COVID-19 pandemic. That's why hundreds of them have signed onto a letter calling on Congress to invest in our country's outdated infrastructure systems. Doing so would create a better foundation for small business recovery post-pandemic and will better prepare businesses to weather future crises.
Today, Small Business Majority offered recommendations to state and local governments on how to distribute funding administered through the American Rescue Plan that would support small businesses. State governments are ideal for providing this support due to the stimulus aid provided to them via the American Rescue Plan. Strategic investments can have a transformative impact on the long-term sustainability of a small business ecosystem.
The White House's $2 trillion proposed American Jobs Plan—an infrastructure reform plan—continues to be hotly debated on Capitol Hill, and proposals to pay for infrastructure investments via tax reforms are some of the most contested pieces of the plan. A new small business survey reveals that small businesses strongly favor key provisions of the American Jobs Plan, and they support paying for them by enacting reforms that would require wealthy corporations and individuals to pay a higher share of taxes.
Small businesses across the nation have been battered by the COVID-19 crisis, but the smallest businesses that typically have fewer resources than their larger peers have faced even greater setbacks. In order to better understand how the smallest and most vulnerable businesses have been impacted by the pandemic, a recent survey examines how they fared compared to their larger small business peers based on key indicators. The survey reveals that microbusinesses are facing particular financial challenges, and a commercial rent crisis may be on the horizon.
Today, John Arensmeyer submitted a letter of support for the nomination of Melanie Egorin for Assistant Secretary of Legislation at the U.S. Department of Health and Human Services (HHS).
Today, John Arensmeyer submitted recommendations to the Treasury Department as it develops guidance for distributing funds for Technical Assistance activities related to the State Small Business Credit Initiative (SSBCI). Small Business Majority focuses on serving economically and socially disadvantaged small business owners, particularly smaller businesses that do not traditionally have access to the capital, trusted guidance, and mentorship that the SSBCI program has the ability to unlock.
This National Small Business Week has been an important time to reflect on the challenges small businesses have endured over the past year. In order to highlight the current state of small business, we spoke with six entrepreneurs from across the country about their experiences running businesses throughout the pandemic. You can read all about their perseverance below.
Small Business Majority welcomes the opportunity to comment on the advanced notice of proposed rulemaking issued by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), titled “Beneficial Ownership Information Reporting Requirements," regarding the implementation of the recently enacted Corporate Transparency Act of 2020 (CTA). An anti-money laundering measure, the CTA requires FinCEN to establish a secure, private database to which U.S. companies submit basic identifying information of their true, “beneficial” owners.