Axiosld like to thank the events team. Thank you for these Virtual Events. We would love for you to follow and you axiosevents can follow us on twitter. Our first guest today started a Small Business. Ushia is going to be with from orange county, california. Eq entertainment and er. Brand q wond this is a curriculum that helps people learn at home, to suddenly in a la mora demand. Thank you for joining in a lot more demand. Thank you for joining axios. How is california . California looks in, but it is outside the window. Not quite as enjoying as i used to. You got the idea for eq entertainment in a college class, i think a lot of Small Businesses start with a germ of an idea. Tell us about eq entertainment. I remember being blown away as a student at harvard. Social learning was number one corlett to life success. That became real to me and i became a parent for the first time. There was not anything out there that made it fun and easy for parents, teachers and kids. I took that 40 years of data and i built the q wonder show. We also have an app for at home use. You promised you would not quiz me, but one of the skills you teach his problemsolving. What is an example of how eq entertainment would attack a problem based on this research as opposed to how we might have been taught back in the day. Ways, we teach kids exactly what to think as opposed to how to think. It is important because there is so much insecurity about what the future job market is going to look like for them that we teach them problemsolving skills. Teaching them to focus on the process as opposed to the result. That is going to keep them from having a low ceiling and help them to grow much further. Kids that takes practice. What is a quick example of that . A problem and how you might attack it. For example, one problem i a lot of kids deal with is delaying gratification. They want something that is right in front of them. We are the same as adults. If you do not solve that problem, it is the difference between present and lifelong success. With impulse control, you can practice it by using distraction technique. Have a fun episode with Michael Strahan where he is having a do not eat the cookie contest. He wins big time because he has learned to distract himself. When you are working with parents who suddenly have become involuntary homeschoolers in many cases, what is going on in Homes Across America and the world right now is people learn and and what is in why in this moment have your rning institutional inertia does not allow our educational system to people of the times. This crisis has done something that politicians have never been able to do. That is to disrupt a decadesold format of how we teach our kids. That is good, right . I think there is an opportunity because millions of parents are going to have a blank sheet of paper to customize their kids educat ion. Either way, education is never going to be the same. The quicker we acknowledge that, the better off we will be there. Will be a lot of jobs that you not we will be. There will be a lot of jobs that do not come back. We do know is we need to teach our kids innovation and emotional intelligence. Ive heard that recently from alec ross, who wrote industries of the future. Wonder is equipped to help kids master those skills. You are in the same boat as so many entrepreneurs. You try to get a ppe loan. Tell us your experience. Economy isthe u. S. Made up of almost half half of the economy is made up of misses that are small, that are under of business is that are small. Hundreds of thousands got stuck in a queue. We were waiting for our ppe loan. It got stuck. It sounds like the online portal was not working properly or was offline for a good portion of that week. I heard this happened with another major bank as well. Now we have gone with a smaller sba bank. It feels like we are subject to a lottery system here. So that must be very frustrating for other entrepreneurs who are watching. What are some of your survival skills, coping skills from your experience that might serve them . I think it is a matter of the same things we are talking to our kids about, which is a growth mindset and being innovative. We have to shed any idea of who we thought we were as a company or a Small Business before this happened. We have to adjust and start innovating and think, what are the needs now and how can we add value to a world that has completely reset . We have a question. This comes from washington. Friends andto your fellow businesses, how many weeks or months you think businesses have to stay afloat given the current stayathome order across so many states . I do not have an optimistic answer. The government has been patting themselves on the back for in the a onemonth hole economy and taking two months to do it. We are going to see a lot of Small Businesses fail. It is going to be tough. It is not going to be a matter of week or month long recovery. This is going to be a several year process. We are going to have to start reinventing ourselves and looking to see how we can help each other. It is a sobering message, but thank you for sharing your story. We always finish with one fun thing. Sophia dickens, one fun thing for you. Ski triply take a where you ski longer than i have skied in my life. I did a 56 mile ski trip in sweden in arctic conditions. Followed in my dads footsteps. Im trying to rally some friends to do it again in the upcoming years. This is how many miles and how long did it take . It was 56 miles. It took about 10 and a half hours. That was a workout. It was a workout. You fora dickens, inc. Telling us about sophia dickens, thank you for telling ertainment. Ent now were going to hear a view from the top segment with the axios cal. Alexm joined here by chris. How are you doing . Great. Thank you for having me. Lens intoe an amazing the economy and into this moment. You touch a lot a huge chunk of this selfstarter Small Businesses in the country. Why would me as a Small Business owner come to you and what do you do for that . We serve over 6 million Small Businesses in the u. S. Through our payroll products. We pay one in 12 americans. Have a breath right now. The beauty of quickbooks is we are a source of truth for your business. We can see your cash flow, your money in, your money out. Everything is in one place. If you are Small Business or selfemployed and you are trying to figure out how much time you have left, what your cash flow is looking like and how you are going to be able to pay your employees, we are able to consolidate all that information and give you the insights you need. That is also critical for being part of this ppe program this ppp program. Gather the right data and have the data for forgiveness if you are able to get through. What is your advice to Small Business owners who are trying to be part of the ppp program. They put more money into the federal government some companies have been able to get it and some have struggled. Have you learned by watching people navigate it and helping people navigate it . The amazing thing about Small Businesses is they are incredibly resilient. Example. A great i talked to Small Businesses everyday. They are figuring out how to be part of an online world or sell their goods in a virtual environment. We have to help them by time right now. Time have to help them buy right now. We know from our Small Businesses, any of them do not have more than a month or two of cash available. Without these kind of helping hands through Something Like a loan or ppp program, they are going to go out. My advice would be, continue to pet it. Do what you naturally do, cap have it. To pivot. Do what you naturally do. Youre about to see round two of this program launch. There will have to be even more beyond that. You not be afraid. Do not feel like it is out of reach for you. There are folks that will help you get up and running and apply for one of these loans. How many more rounds do you think the federal government will have to do of these loan guarantees for Small Businesses . We have more than 600 billion allocated for the program. Given that you had this insight into what companies are facing, how much more do you think the federal government is going to have to put forward . I am not sure how much more they will need. I do think we are going to have to reconsider how the program is structured. Right now, as we saw in the that arend, the folks getting the loans are the larger Small Businesses. The average loan size was 239,000. We are seeing our customers coming in and applying for what they need to cover their payroll, which is 40,000. We are talking about businesses that have 20 to 50 employees getting the loans. The vast majority of Small Businesses are less than 10 or five employees. Those are the ones that structurally need it. The system is not set up for it right now. Angst or not there to cover the smallest. That is why we started our Quick Capital business to begin with because they were underserved. It is not going to be just about putting more money into ppp. It is going to be as we move forward, taking about how we will work with quickbooks that have the data that have the dollars sure that those are flowing to those Small Businesses. What else should or could the federal government do to help Small Businesses . Every politician says they love Small Businesses. Do above andrnment beyond the ppp program to help the type of Small Business you were talking about. Someone whom i only have 5, 10, 15 employees someone who might only have 5, 10, 15 employees. I think they need to think about the structure. I would ask for them to think about, how did they leverage the syntax . Folks who have data above and beyond what banks can rely on. Credit models that allow us to approve and lend to the smallest Small Businesses. Work hand in hand so that we can get those dollars to use. Throwing dollars into a system that was already set up to help the larger businesses is not going to get the job done. You are an entrepreneurial guy. As we depart, what did you learn throughout the course of your career that you could pass on to a Small Business owner that is looking for a little bit of wisdom as they try to navigate the Tumultuous Times we live in . I was an entrepreneur. The darkest day in my start up was the day i was not sure i was going to be able to make the next payroll. You lose sleep. Your insides are gnawing at you. You know you are scrappy and it is on your shoulders. My advice to these Small Businesses is, there are folks out there willing to help you. We have 5000 folks that live and breathe. Every morning, we wake up trying to figure out how to help you. Give us a ring. We will figure it out. Do not be afraid to ask for help. Very smart. S, thank you for an insightful conversation. We are going to turn it back over to mike allen. For makingo into it this Virtual Event on Small Businesses possible. Come back to my home in arlington, virginia. Now it is my home office. We appreciate you joining us. Earlier today, i caught up with Suzanne Clark, president of the u. S. Chamber of commerce. Here is Suzanne Clark. We are joined by Suzanne Clark, president of the u. S. Chamber of commerce. Suzanne has been in the trenches. I first got to know her when she was running her own company. She has a ba and mba from georgetown. Welcome to axios. Thank you. Congress Just replenished the money that is in the payment reached Payment Protection Fund to help Small Businesses stay in money. His round two going to be enough . Is round two going to be enough . Pres. Clark we hear from Small Businesses across the country every day. Some of them are in tears. They cannot get over the impact of their family, communities and customers. We are Glad Congress got this done. It will not be enough. They cannot start working on the next round fast enough. You spend all day talking to businesses of all sizes. As you talk to Small Businesses, what is the most common thing you hear . What is the most common worry they confide to you . Pres. Clark first of all, it is staying afloat. Job know firsthand what a means to a family, what a job means to a community. What a job means to health outcomes. They worry about their support in the community, their Little League teams and their philanthropy. They are very concerned about staying safe, keeping their employees safe and just staying afloat. They are worried also about how they reopen in a way that is safe and sustainable. Notf these two rounds were enough, what is needed . Say congress were to get started right away, how much would be enough . Pres. Clark first of all, i think theyre going to have to do at least another 250 billion. What is really going to be enough as we are going to have to reopen. We are Free Enterprise people. We do not think this is going to be government aid and assistance forever. We have to help people who are in real pain right now and then we have to sensibly and safely reopen so americans have access to their paychecks again. Do you feel like america is on that road or are you worried about the road we are on at the moment . Pres. Clark it is hard as a human not to be worried if you look at the scale of the Public Health crisis and a scale of the economic crisis, it is tragic. Of course we are all worried. And theess owners business community, you are worried, you get to work. Getting to work means, how do you phase in a gradual reopening based on geographies that are safer, industries that are safer, following the right guidelines so you can help . We know this fell off a cliff quickly when it closed down. Slowly, we know demand comes back relatively quickly and businesses want to be there to meet it. Your friends in business are pushing to reopen, are anxious to reopen. Pres. Clark anxious about reopening too chain what we see reopening too. Number one, essential services have to be in place. You have to have daycare and transit in place. Youre going to have to have the right equipment. That is testing and tracing but also ppe. Our employees going to need thermometers and masks and Hand Sanitizer and training all of these things . Are you following osha guidelines or cdc guidelines . Making all of that clear. They are very concerned about the litigation risk. This is an imperfect time. There is no playbook. Well businesses are anxious to reopen for their families and communities and employees, they want to make sure when they do it, they do it properly. What is the litigation risk that worries the Business People you talk to . Pres. Clark one of the thing about returning to work is it is about returning to life. Worshipg to places of and charities and philanthropy etc. It is not just traditional businesses that are worried about it. We are hearing about schools that are worried about litigation risk. We have an imperfect situation. For example, we are asking ceos to operate in an unprecedented time. After years of saying, do not discriminate on the basis of health or age, we are saying protect your Health Information should you want to make something public so we can trace people who have this virus or understand who has immunity. When you have a whole new playbook, there are a small number of plaintiffs who go hard and look for liability. They are already organizing against Health Care Workers and hospitals and medical device manufacturers. It scares Business Owners there could be a second big economic risk coming. What do you advise businesses when they are getting conflicting advice and direction from the white house and governors . Pres. Clark what we advise them is to help us understand where those conflicts are so we can be a conduit in a between. We are lucky from where we sit we see every size, every sector, every geography. We can talk to the white house. We can talk to the steakhouse to the statehouse. We see a lot of people at all levels of government trying to do the right thing. Totally unprecedented. More collaboration, the more cooperation, the better. What we say to businesses is, be clear about your questions. Onhave task forces based geography that can help but also based on sector chain the challenges with a consumer facing company will be different from an industrial company. Anything we can do to get questions and concerns in one place, we want to do. Even beyond sector, when you talk about the type of businesses, talk about high density businesses like a french bistro or an Office Business like the chamber or a manufacturing business, how much is that going to have to do with the chronology of who gets to open backup . Expertlark i am not an and we will listen to the Public Health experts about when to open backup. If you think about the differences in how, we have already seen it. It is easier for some of our Smaller Stores to have guidelines in how they distance. You and i both spent time in arlington, virginia. We have a great Small Business that has figured out how to block out space so you can go a