National

Survey: Smallest businesses face a looming rent crisis

Publisher: 
Small Business Majority
English
Date: 
Thursday, May 20, 2021

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.

Small Business Majority Sends Recommendations to the U.S. Treasury Department

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.

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Submitted by Quintin Reed on Fri, 05/07/2021 - 06:40

State of Small Biz: Where small businesses stand one year into the pandemic

Posted: May 6, 2021

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. 

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Small Business Majority Submits Comments to Federal Register

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.

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Submitted by Quintin Reed on Wed, 05/05/2021 - 13:29

Supporting small businesses through the American Families Plan

Today, John Arensmeyer submitted a letter to congressional House and Senate leadership outlining the key provisions in the American Families Plan that would support small businesses. Additionally, the letter provides recommendations for how to structure tax reforms to ensure they level the playing field for small businesses. 

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Submitted by Awesta Sarkash on Wed, 05/05/2021 - 07:33

Pivot strategies in the COVID-19 era: Lessons learned from small business owners during Financial Literacy Month

Posted: April 29, 2021

Small business ownersDuring April’s National Financial Literacy Month, we spoke with small business owners around the country about the challenges they’ve faced during the last year of business turmoil and how they’ve pivoted their businesses to stay afloat during the pandemic.  These business owners have weathered many untenable challenges and are sharing their lessons learned and some best practices other small businesses can follow during this difficult time. Read on to learn about some of the key steps they took to overcome the challenges brought on by the pandemic.

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