Small Business

One look at the numbers, and the problem is clear. U.S. businesses are losing an estimated $1 trillion a month as businesses are disrupted due to the coronavirus pandemic, according to estimates by the American Property Casualty Insurance Association. Yet, insurers collect only $4.5 billion a month for all commercial property policies. This month, the

Kevin O’Leary told CNBC on Tuesday the U.S. government should not establish more relief programs for businesses impacted by the coronavirus and instead allow market forces decide which companies survive.  “As a result of the pandemic and people’s changes in purchase behavior, there is a new America emerging and the only way to feel that out

Brian Taylor is your quintessential small business owner. He started Harlem Doggie Day Spa, a pet grooming and boarding business, 10 years ago in Harlem, New York. Like many small business owners, Taylor says he lost about 80% of his business when he had to temporarily close his storefront in early March due to the Covid-19

Patrice Washington became a real estate broker her senior year of college.  After graduating from USC in 2003, Washington opened a boutique real estate and mortgage brokerage with a team of employees to keep up with demand. By 2007, she had made millions and parked her earnings into 13 investment properties.  Then the housing market

When the Covid-19 pandemic forced businesses to close and people to stay home, the way Americans obtained and consumed food changed drastically. Grocery stores were selling out and food banks were overwhelmed, but many farmers who used to supply restaurants, schools and commercial enterprises found themselves stuck with tons of extra products. As the initial

Pedestrians walk past Leavitt & Peirce in Harvard Square in Cambridge, MA on June 30, 2020. Lane Turner | The Boston Globe via Getty Images The city of Clemson, South Carolina, grows nearly four times its size from 8,000 to around 40,000 when Clemson University students return every fall. On football game days, the number

Drivers wait in line for boxes of food from the Second Harvest Food Bank of Central Florida at a drive-through event at the City of Destiny church in Orange County, Florida. Paul Hennessy/SOPA Images/LightRocket via Getty Images ‘Horrendous time’ “This is a horrendous time to have a lapse in benefits,” said Wendy Edelberg, senior fellow

Small-business owners are struggling to stay afloat as coronavirus cases spike in many parts of the country — even with stimulus aid from the government. Despite that, worker headcount among small businesses was nearly back to pre-Covid-19 levels, according to exclusive data compiled by human resource provider Gusto and based on more than 100,000 small

An exterior view of Sweet Tomatoes restaurant, which have closed their doors, on July 08, 2020 in Pembroke Pines, Florida. Johnny Louis | Getty Images As Covid-19 cases continue to climb in cities and states around the country, businesses are being faced with a second wave of closures and potential layoffs. The National Restaurant Association

Alex and Kelsey Carroll’s company, Toss Up Events, designed and operated unique fan experiences at major sporting events across the country. Then the coronavirus shutdown canceled all large gatherings for the foreseeable future.  The Carrolls, both 31, had all of their employees pack up their equipment and head back to the company’s headquarters in Dallas.

Foot traffic is slowly returning to Brattle Street and Harvard Square in Cambridge, Massachusetts, but local small businesses are still suffering from the extended coronavirus lockdown. Lane Turner/The Boston Globe via Getty Images EIDL loans The EIDL Advance program, created by the CARES Act, gave emergency grants to small businesses within three days of their

Interest rates are at record lows.  This may make the idea of borrowing money more appealing to the millions of Americans who lost their jobs or were furloughed because of the coronavirus shutdown. Two common assets that people often look towards when they need large sums of cash are their home’s equity or their 401(k),

A woman wearing a face mask walks past the closed Arlington Cinema and Drafthouse movie theater amid the coronavirus pandemic on May 14, 2020 in Arlington, Virginia. Photo by OLIVIER DOULIERY/AFP via Getty Images The number of Americans filing for unemployment benefits over the last four months is worse than any other time in modern

Desperate times can call for desperate measures.   Your first step when borrowing money to pay your bills should always be to look inward, according to Winnie Sun, a financial advisor.  Sun, co-founder of Sun Group Wealth Partners in Irvine, California, said she calls the practice “profit-shopping.”  The idea is simple. You go through every item

Junior’s Cheesecake owner Alan Rosen told CNBC on Monday that restaurants would be in serious financial trouble if they have to reopen then close back down due to the coronavirus pandemic.  “This opening and closing could be the death knell of restaurants in this country,” Rosen said on “Power Lunch.” ”When people are buying up food, then

Michael De Los Santos saw a big boost in sales on Blackout Day as consumers supported his BBQ sauce business. Source: Michael De Los Santos As activists and allies spread the word about Blackout Day, some Black-owned businesses said they saw a boost in support. The movement urged both Black consumers and others to either

Business spending showed some signs of green shoots in June, as manufacturers bought more equipment and spending shifted away from stay-at-home sectors to ones that could rebound in a reopening economy,  according to Cortera, a software company which analyzes business-to-business credit transactions. But overall June spending was still depressed, down 10.9% from the same month

An employee takes the temperature of a building tenant outside the Empire State Building in midtown Manhattan, as the iconic tower prepares to open to more tenants and visitors following the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., June 24, 2020. Mike Segar | Reuters Among the countless things

A shopper walks with bags of purchases. Pedestrian and vehicular traffic have noticeably increased as businesses mark the next phase of reopening the economy today in New York City. John Lamparski | SOPA Images | Getty Images Black American consumers are hoping to make the financial and economic community pay attention Tuesday by using the

Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to the Small Business Administration.  The PPP loans and grants were part of the $2 trillion CARES Act, which President Donald Trump signed into law this spring. The loans were designed to help small