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No National Business Week...but There is Coronavirus Relief! (Archived)

No National Business Week...but There is Coronavirus Relief! (Archived)

May 07, 2020

Last week was “National Small Business Week” and it joined a growing number of events and activities canceled or postponed due to the onset of the Coronavirus pandemic.  In fact, since the Small Business Administration (SBA) initiated the recognition in 1963, the week has virtually evolved into a month-long celebration of the important contribution small business delivers to the nation’s economy as well as to the framework of our independent society.

Here in the Washington DC region, events were planned for entrepreneurs to network and interact on various platforms throughout the month.  The goal was always to promote important and meaningful information in support of running a business.  That entails successfully creating jobs, meeting payrolls, paying taxes, building economically viable resources, employees, families and communities for generations to come.

We can postpone events and do without special recognition programs, but we can’t afford to suspend support and information critical to our small business infrastructure.

According to the SBA, “More than half of Americans either own or work for a small business. And they create about two out of every three new jobs in the U.S. each year. Some 99.9% of all firms across the nation are small businesses and employ 60 million out of 126.8 million employees across America”.

The federal government has stepped up and enacted a bipartisan $2 trillion economic relief plan to help millions of small businesses affected by the coronavirus pandemic.  The problem is understanding the “ins and outs” of securing that money in the form of low interest loans and grants.  It’s not an easy process if you don’t know what you are doing.  Certainly, there are questions to be answered and timetables to be concerned with.  Once you have this information, you can better see how you fit in this unique government sponsored benefit package.

Follow the links below for information on temporary funding options under the CARES Act including SBA’s:

The information will go a long way in helping you make this odd time a special “National Small Business Week”, month and maybe year.

Our business owner clients have come to depend on BWA to help them manage financial decisions in both up and down markets.  In that vein, today’s circumstances are not our first rodeo and we know how to make this ride as smooth as possible.   If you would like some company on this journey, give us a call.  We would be happy to help.

"Its your life... Plan for it!"

Eric D. Bailey

Eric Bailey is a registered representative of Lincoln Financial Advisors. Securities and advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (Member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Bailey Wealth Advisors is not an affiliate of Lincoln Financial Advisors. CRN-1883513-082917