article thumbnail

What Small Businesses Can Do To Survive And Thrive During The Pandemic

YoungUpstarts

The odds were always difficult for small businesses even before the pandemic. According to the numbers published by the Small Business Administration in 2018, 20% of these enterprises fail in their first year. You can, however, make sure you do your part in keeping your employees and yourself safe from the disease.

article thumbnail

How to Make Sense of the PPP Loan Program for VC-Backed Startups

Both Sides of the Table

There is so much confusion and misinformation out there about the government sponsored “payroll protection plan” loans to companies that the heads of every small business CEO in the country must be spinning. 350 billion of this money is dedicated to small businesses under a loan program called the PPP (payroll protection plan).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Top Five Mistakes Small Business Owners Are Making During Pandemic

YoungUpstarts

Some businesses are open, while others are closed but trying to reopen while the remainder are waiting for the government to allow them to reopen. My company has helped almost 2,000 businesses and we have seen every issue a struggling business might face. Failure to Access Small Business Administration (SBA) Programs.

article thumbnail

13 Critical Small Business Legal Requirements to Start a Business

Up and Running

The size standards are different for each industry and are defined by the government body established to oversee such matters. Generally, the size is based on the number of employees and annual receipts for a given period. What you need depends on your location, business activities, industry, and government rules.

article thumbnail

6 Stories of Successful New Entrepreneurs to Inspire Your Business

Up and Running

However, the challenges you face are the same ones that every successful small business owner has faced and then surmounted in some way or another. It can be instructive and inspirational to hear about businesses that triumphed over adversity. How these six businesses worked with the SBA to grow.

Columbus 134
article thumbnail

Vital Tips For Small Businesses And Entrepreneurs During Covid-19  

YoungUpstarts

Businesses can also use the money to pay interest on mortgages, rent and utilities. The great news about this program is that the loan will be forgiven if it’s used in this manner, so if you’ve already let your employees go, you can bring them back and pay them using this money.

article thumbnail

Utilizing Financial Aid During a Global Crisis: A Guide for Business Owners

The Startup Magazine

The Covid-19 pandemic has had a devastating impact on the global economy, with businesses in every sector feeling the strain of the crisis. As business owners struggled to keep their companies afloat, many turned to business financial aid programs for relief. One such program is the Employee Retention Credit (ERC).

Global 150