With More Stimulus, Startups Could Grow at Warp Speed We ve already seen three direct payments and countless PPP loans for individuals and small businesses, but further Covid-19 stimulus could completely redefine the startup landscape in 2021 and beyond.
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It goes without saying that Covid-19 had a devastating effect on businesses in 2020, particularly small businesses and startups. Many entrepreneurs had to put their dreams on hold or completely throw in the towel. Moreover, businesses that had been running smoothly for years suddenly found themselves with virtually no cash flow. Partisanship in Washington D.C. delayed the first round of Covid-19 stimulus, forcing thousands of these businesses to close their doors in the process.
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email ‘I Feel like I’m Drowning’: Women Business Owners Keep Hitting New Barriers to Federal Loan Aid
Women, especially women of color, are driving small-business growth during a pandemic in which they’ve been hit particularly hard and missed out on help. Mariel Padilla ,
Marcelle Folk thought 2020 was going to be her year. For nearly four years, she had been catering in-person events and mobile bartending from her van, in addition to her full-time federal job as a paralegal in Washington, D.C. The revenue from her catering business had tripled three years in a row, to the point that Folk in February 2020 could quit her job at the Department of Veterans Affairs.
“We did a lot of Grub Hub and all these other companies that do extremely well,” Peter Daniel said. “They’re still doing well because there’s this opening in that market. We obviously picked up a lot of those services to help us.”
The inability to have dine-in service hit the Daniels’ restaurants hard, to the point where sales were 50% lower than in previous years. It was the Acton location that kept the business afloat as sales were higher for the entire year, thanks in large part to its 90-seat outdoor dining area.
“If you have a big outdoor space, you are positioned well,” Peter Daniel said. “(People) will definitely go inside, but outside they are they’re a little more comfortable.”
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Report: Five of the 10 worst small U.S. cities for small businesses are in NJ
By Audrey Conklin article
WILDWOOD, NJ - MAY 24: People wearing masks walk the boardwalk on May 24, 2020 in Wildwood, New Jersey. Governor Phil Murphy designated the state beaches open with restrictions during the Memorial Day weekend due to the coronavirus pandemic. (Photo b
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NEW JERSEY - Five of the top 10 worst small U.S. cities for small businesses are located in New Jersey, financial review and advice website Wallethub found in an April 20 report.
Wallethub compared more than 1,300 small American cities to determine which would foster the most growth for small businesses based on 20 different factors, including accessible financing, human-resource availability, workforce education levels, office space costs, labor costs and more.