A new poll from MetLife and the U.S. Chamber found 43% of small businesses say they are 3-6 months away from permanently shutting down.
A new poll taken from March 25 – 28, 2020 and released today from the U.S. Chamber of Commerce and MetLife reveals that one in four small businesses (24%) say they are two months or less from closing permanently amid the economic downturn caused by the coronavirus pandemic. One in 10 (11%) are less than one month away from permanently going out of business.
A new poll taken from March 25-28, 2020 and released by the U.S. Chamber of Commerce and MetLife reveals that one in four small businesses (24%) are on the brink of closing permanently amid the economic downturn caused by the coronavirus pandemic. The full report relays findings on small business owners' level of concern, changes they are making in order to continue operating, resources and relief programs needed over the next couple of months, and predictions on when the U.S. small business climate will return to normal.
The Families First Coronavirus Response Act created new temporary paid sick leave and paid Family and Medical Leave Act (FMLA) programs that are 100% reimbursable by the federal government. The effective date of both programs is April 1 and they expire on December 31.
“The U.S. Chamber of Commerce is working with state and local chambers across the country to provide businesses with the information they need to stay afloat and keep people employed during the pandemic,” said Suzanne Clark, President of the U.S. Chamber of Commerce. “These comprehensive guides ensure business owners fully understand what aid is available to them and how to access those funds as quickly as possible. We are committed to ensuring no family or business goes bankrupt due to financial hardships associated with the coronavirus.”
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act expands the Small Business Administration’s long-standing Economic Injury Disaster Loan Program (EIDL).
The U.S. Chamber of Commerce has issued this guide and cheat sheet to help small businesses and self-employed individuals prepare to file for a loan from the CARES Act's Paycheck Protection Program.
FAQs on the SBA's Payroll Protection Program for small businesses impacted by the coronavirus.
The U.S. Chamber of Commerce has created a guide to help small businesses, independent contractors, and gig economy workers prepare to file for a coronavirus relief loan under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
From shipping to staffing, the Chamber and its partners have the tools to save your business money and the solutions to help you run it more efficiently. Join the U.S. Chamber of Commerce today to start saving.
Weekly insights and analysis from the intersection of government and business.
