News

News (2067)

PPP Stops Early Due to Lack of Funds

Many small businesses missed out on Paycheck Protection Program funding because the program ran out of funds early, reports CNBC.

When the Paycheck Protection Program ran out of funding the first week of May – weeks ahead of its May 31 deadline – it was a huge surprise to the staff of El Museo del Barrio in New York.

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SBA Authorizes Paycheck Protection Program Loan Withdrawal

The Small Business Administration is giving small businesses a chance to reapply for Paycheck Protection Program loans, reports the Business Journal. 

The Small Business Administration is asking Paycheck Protection Program lenders to withdraw any application that has not yet been approved so that small businesses can apply elsewhere.

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NASA Awards Innovation Contracts

NASA will award 127 small businesses with a Small Business Innovation and Research contract to bring their product into development, reports NASA.

NASA has a long history of supporting America’s entrepreneurs as they develop technologies from ideas to commercial readiness. The agency’s Small Business Innovation Research (SBIR) program is furthering that legacy with 140 new Phase II awards to 127 U.S. small businesses that will help them move their innovations to market.

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Only Small Percentage of Businesses Could Face Tax Hike

According to Reuters, only 3% of small business owners would see an increase in taxes under Biden’s new jobs and infrastructure plan. 

Less than 3% of the roughly 30 million small-business owners in the United States could face tax increases under President Joe Biden's jobs and infrastructure plan, according to a new analysis by the White House on Friday.

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New Relief Targets Restaurants

The Small Business Administration is releasing a new round of relief targeting restaurants, reports KOLD. 

A new round of relief is about to be served up to restaurant owners starting Monday, May 3. The Small Business Administration is offering up money through their Restaurant Revitalization Fund to help with employee payroll, rent, and other expenses.

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Tax Rate Increase Could Hit Small Businesses

According to the US Chamber, small businesses could be hit by the increase in corporate taxes. 

Congress is considering raising the corporate income tax rate from 21 percent to 28 percent. Many assume that only big businesses will pay this higher rate.

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Taking Your Business Up a Notch

If your business has hit a plateau there are a few things you can do to take it to the next level, reports Small Business Trends. 

Many small businesses go through an early growth stage. But after that, you may need to change up your strategies to take the next step. 

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Small Business Cyber Security is Necessary

Small businesses often don’t take cyber security seriously, leaving them ripe for an attack, reports Forbes. 

May 7 is World Password Day, and it serves as a reminder for many entrepreneurs and small business owners to prioritize—or reprioritize—cybersecurity and other protections

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Same Day Pay for Employees?

A new trend in employee pay is paying “on-demand”, reports The Guardian. 

As employers – especially small employers – are struggling to bring back workers to their jobs, a relatively new benefit is becoming more attractive: on-demand pay.

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Small Business Worried About Tax Hike

According to CNBC, small business owners are worried that Biden’s corporate tax plan could inadvertently hurt them. 

Several top policy priorities in President Biden’s agenda seek to rein in the wealth and power of the biggest companies.

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