Please Note: This article was updated on April 30, 2020 to provide additional information and new resources.
As our country goes through this pandemic, Americans are being asked to self-isolate at home to stop the spread of coronavirus. The request from our Government is that only essential workers be required to work to minimize the spread – New York Times is reporting that about 316 million people are being urged to stay home.
For ‘non-essential’ businesses, this pandemic can be catastrophic to their businesses, potentially losing the what took so much time and care to build.
As a way to help our fellow Small Businesses, we organized a list of resources we felt might be helpful during this time. The list includes the Small Business Association, a great resource working with local partners to counsel, mentor, and train small businesses, as well as other organizations dedicated to assisting small businesses during this pandemic.
Coronavirus (COVID-19): Small Business Guidance & Loan Resources
Internal Revenue Service (IRS)
The IRS has now delayed federal tax filing until July 15, and offers advice for deducting COVID-19 costs from your taxes. .
SBDC (Small Business Development Center): A network of centers that provide counseling and training to help small business owners start, grow and expand their business. Find a Small Business Development Center
VBOC (Veteran’s Business Outreach Center): Designed to provide entrepreneurial development services and referrals for eligible veterans owning or considering starting a small business. Find a Veteran’s Business Outreach Center
PACE University (Lubin School of Business: Small Development Center) also provides resources on crowdfunding to help small businesses raise funds. Crowdfunding can be an effective way to generate small business support including brick & mortar small businesses looking to stay connected to their local community.
Salesforce Care Small Business Grants, partnering with Ureeka, offering an opportunity to obtain a $10,000 grant to help with the COVID-19 pandemic. Eligible for-profit businesses must have between 2-50 employees, have been in business for at least two years, and annual revenues in the range of $250k – $2 million. The deadline for this application is May 1st at 11:59 pm.
YELP is offering waived advertising fees, free products, and services until May 25th to independent, local restaurant and nightlife businesses. For businesses with existing Yelp Ad campaigns, they will be waiving charges for ads delivered in the second half of March. To learn more about features and upgrades for small businesses with or without an existing Yelp account, please visit here.
NYC businesses, West Side Small Business Grants is offering grants of $5,000 to $10,000 with priority going to minority and women owned small businesses. To learn more about the details of the grants, please visit here.
Also, we recommend taking a moment to review information from your current resources to determine the steps you will need to take to secure your business :
- Review your current contracts to ensure you understand the current terms & conditions, re-engage in negotiations, if possible, to help your small business survive through this crisis.
- Touch base with your insurance policy holders to revisit your coverage and if additional changes in policy are needed to protect you.
- Reach out to other small business owners, perhaps within the same field, to have a pulse in your industry and perhaps create a support group of those businesses in dire need of knowledge, mentoring or resources.
- If possible, identify other sources of revenue to help sustain your business until it can go back to normal. Example: Restaurants opening only for delivery services, Grocery stores creating an online shopping experience.
We hope that you and your families and workers stay safe & healthy throughout this time of unprecedented crisis. Let’s keep our heads and hearts uplifted as we get through this together.
|Please share in the comments any additional resources you have found helpful. We will continue to update this list as more resources become available.|
We are all in this together!