Are you wondering how small businesses are navigating through these challenging times?
Although small businesses were left vulnerable, there are plenty of programs and resources to help business owners. If you’re worried about the future of your small business, we’re here for you.
Read on to learn about these small business support programs available right now.
U.S. Small Business Administration
In 2021, if you’re running a small business, you need to take advantage of the U.S. Small Business Administration (SBA) resources.
Small business owners can find anything from grant opportunities, tips, case studies, articles, and more on the SBA website. These resources are available for businesses just starting and don’t have the resources or connections to guide them through their new business.
The SBA website also offers information for entrepreneurs at any stage in their careers, including funding opportunities.
Professional Meetups and Networking
After these challenging times, it’s more important than ever for small businesses to grow their network and start meeting new professional connections.
While many small business owners can find opportunities to network and entrepreneur events through the SBA, there are other opportunities to connect with others.
If you want to increase your networking opportunities for your small business, you can always take advantage of Meetup, Facebook groups, or Eventbrite.
Paycheck Protection Program
After the COVID-19 pandemic, the SBA offered all small business paycheck protection programs (PPP).
Small business owners can take advantage of the PPP loan forgiveness programs based on eligibility.
The First Draw PPP loan forgiveness offers full loan forgiveness for businesses between 8 to 24-weeks.
The purpose of the First Draw PPP term is to ensure employees receive full compensation, payroll costs, and other eligible expenses. Businesses participating in the first draw can use 60 percent of the proceeds on their payroll.
The Second Draw PPP loan terms are also available for those who qualify during a period of 8 to 24 weeks. The terms of the second draw are similar to the first one.
To apply for any of these PPP Loan forgiveness terms, small businesses first need to determine whether or not their lenders are participating in the program. Once you determine whether or not you’re eligible, you need to gather the necessary documentation.
Google My Business
During challenging times, small businesses need to ensure they’re on the map. One of the best resources for small businesses is Google My Business.
When someone searches for a local business on Google, they will be directed to your Google My Business information. To participate in Google My Business, you must add your website, phone number, address, and reviews.
Are You Ready to Take Advantage of These Small Business Support Programs?
Now that you know about these small business support programs available, you’re ready to take full advantage of them.
You can find small business support on the SBA website, take advantage of Google My Business, and increase your network through meetup events.
Are you ready to take your small business to the next level? Contact us today to learn how.