Through the American Rescue Plan and the equitable implementation of emergency relief programs, President Biden and Vice President Harris fostered the strongest recovery for Main Street on record. In 2021, Americans applied to start 5.4 million new businesses—more than 20 percent higher than any previous year on record. The boom in new business creation has been
Small businesses borrow mainly for four reasons: to start a business, purchase inventory, expand,
or to strengthen the firm’s financial health. Firms choose different means of financing depending on
the intended purpose.
From ongoing supply chain disruptions to new fears surrounding potential impacts stemming from the Omicron variant, small business owners continue to face uncertainty about the future of their businesses. A new survey from Small Business Majority sheds a light on how supply chain disruptions are impacting small business during the crucial fourth quarter, as well
A national survey of more than 1,000 small business owners in, Small Business for America’s Future’s small business network finds that small businesses are being hurt by a lack of affordable child care, and small business owners support increases in federal funding for child care. “The lack of affordable, high-quality child care directly impacts our ability to
The COVID pandemic has been a perfect storm hitting the small and local businesses that make our neighborhoods and cities unique. It’s estimated that 200,000 more small businesses than normal shutdown in the last year, and that from February to April 2020, Black, Latinx, and Asian business ownership dropped 41%, 32%, and 26% respectively –
The Paycheck Protection Program (PPP) supports small businesses through forgivable loans for payroll and other eligible costs. Early lending favored larger and rural businesses, according to GAO’s analysis of Small Business Administration (SBA) data. Specifically, 42 percent of Phase 1 loans (approved from April 3–16, 2020) went to larger businesses (10 to 499 employees), although
As Congress debates a bipartisan infrastructure plan and a larger $3.5 trillion investment in “human infrastructure,” Small Business Majority surveyed its network to understand their views on key issues being considered such as child care and paid family and medical leave. The survey also examined how small businesses are navigating mask and vaccination requirements, as
The KFF COVID-19 Vaccine Monitor is an ongoing research project tracking the public’s attitudes and experiences with COVID-19 vaccinations. The most recent update, published June 30, 2021, contains important insights for business leaders that can inform workplace approaches to help end the pandemic.
The COVID-19 pandemic was an economic shock to small firms and the effects were not easily predictable. An unprecedented number of establishments closed at least temporarily, jobs are rebounding but have not yet reached pre-pandemic levels, proprietor’s income rebounded quicky, and business bankruptcies seem unaffected so far. Financial conditions have improved and remain accommodative to economic growth. Meanwhile, financing remains reasonably tight for small businesses with subpar credit scores.
Small Business for America’s Future released a national survey of small business owners about their feelings toward the American Jobs Plan and the tax code.