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. Here’s what you need to know to determine if your small business is eligible and how to benefit from these tax credits.
The U.S. Small Business Administration (SBA) is hosting National Small Business Week from September 13-15 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.
This is the fourth post in a series on the basics of building a more resilient business to help you navigate unforeseen challenges.
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.
Learn more 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.
Revenue Reduction Score (RRS): What is it?
This is the third post in a series on the basics of building a more resilient business to help you navigate unforeseen challenges. Check out our post on building your online presence and protecting your small business from cyberattacks. Stay tuned for future posts in this series!
This is the second post in a series on the basics of building a more resilient business to help you navigate unforeseen challenges. Check out our post on building your online presence and stay tuned for future posts in this series!
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.
Communicate with your employees
The pandemic’s harmful effects have forced many entrepreneurs to reevaluate their business model. More than a year since the global health crisis paralyzed our communities and economies, small businesses are looking for ways to make their business more resilient to crises and connect with their consumers online. With this in mind, we put together a checklist for entrepreneurs to review as they pivot their businesses and build their online presence.