Small Business

Tracy Singleton, owner of Birchwood Café in Minneapolis, Minnesota, remains cautious about reopening. “I don’t feel safe having people walk into my environment yet,” she says. Tracy Singleton Like many small business owners, Edgar Comellas, owner of Aces Wild Entertainment in Florida, has seen business grind to a halt since March. His company, which arranges

CNBC’s Jim Cramer said Wednesday that governments forcing some retailers to close and others to stay open was “somewhat rigged” and has permanently damaged smaller businesses.  “If you were Walmart, the thing you would most want to do is have the government shut down your competition, and that happened,” Cramer said on “Squawk Box.”  Cramer’s

The coronavirus pandemic caused an unprecedented jump in job losses, but the worst may be over, at least for now. After spiking more than 1,000% in March, layoffs among small business leveled off last month, according to exclusive data compiled by human resource provider Gusto and based on more than 100,000 small businesses nationwide. “We are no

Magic Johnson Getty Images With the future of small businesses in urban communities at risk, former National Basketball Association great Magic Johnson has stepped in to offer assistance. The CEO of Magic Johnson Enterprises collaborated with MBE Capital Partners to offer $100 million in loans to minority- and women-owned companies hurt by stay-at-home orders due

Navigating the economic fallout from the coronavirus pandemic has not been easy for small businesses. Fashion designer Rebecca Minkoff is no exception. “It’s the longest, most exhausting days of my life,” said Minkoff, 39, and the co-founder and creative director of her own fashion line. “I want to scream a lot, but I have to stay

Small-business owners who borrowed from the federal Paycheck Protection Program program can now apply for loan forgiveness. Getting the balances erased may be easier said than done. The PPP loan, which was established by the CARES Act, is intended to cover up to eight weeks of wages, mortgage interest and other expenses. The amount borrowed

As cities and states begin to reopen for business, franchisees are laying out their plans for operating in a new socially distanced world, where coronavirus remains a risk. Beyond worrying about the safety of workers and guests, there are potential liability concerns and the biggest question of all: will consumers feel safe enough to patronize restaurants,

A tax surprise could be around the corner for business owners who participate in the federal government’s forgivable loan program — unless Congress intervenes. The Paycheck Protection Program offers small businesses a lifeline in the form of a forgivable loan they can use to cover up to eight weeks of payroll costs, mortgage interest and

Public companies that took advantage of the government’s small business loan program are likely to avoid repercussions from the agencies running the effort, according to legal experts. Businesses have until May 18 to return funds taken from the Paycheck Protection Program with amnesty,  but most of the public companies that got PPP loans are keeping

Getty Images Twenty million children attend camps in the U.S. every summer, fueling the $18 billion camp industry. With summer just a little more than a month away, camp directors are still deciding if it’s safe for camps to operate amid the coronavirus pandemic. And parents are equally concerned. On Thursday the Centers for Disease

Amaurys Grullon (L), founder of Bronx Native, and Josue Caceres (R), brand manager. Caceres caught coronavirus and was in a coma for 11 days. Spencer Kimball | CNBC Josue Caceres remembers waking up in a hospital bed. He tried to get up and go to the bathroom, but he was so weak he fell and

Reopening the economy may mean a lot more plexiglass. Those clear partitions, that have lined checkout counters in essential businesses like grocery stores and pharmacies during the coronavirus outbreak, could be a post-pandemic norm. Stay-at-home orders have already started lifting across the country, with nonessential businesses, like nail and hair salons, and major retailers like

Growing up, Brett Kenzy didn’t like working on his family’s cattle ranch farm in Gregory, South Dakota, about 160 miles west of Sioux Falls. “I hated it. I resented that I had to work all the time,” Kenzy, now 48, tells CNBC Make It. But Kenzy’s father, Ralph, a third generation cattle rancher, always told

Agatha Kulaga, co-founder and CEO of Ovenly Source: Agatha Kulaga There’s no doubt the coronavirus pandemic has hit small businesses hard. For some, like retail and wholesale bakery Ovenly, it meant completely shutting down their operations. The New York-based business had to lay off its entire staff of 66 employees, said Agatha Kulaga, the co-founder and

Restauranteur Geoff Tracy sits for a photograph at Chef Geoff’s restaurant in Washington, D.C., U.S., on Thursday, March 26, 2020. Images Andrew Harrer | Bloomberg | Getty Images Many business owners who want to cash out and retire are worried they won’t be able to do that for years because of Covid-19. Nothing could be

Business owners who borrowed less than $2 million from the Paycheck Protection Program can breathe a little easier: They likely won’t face an audit from federal authorities. The PPP — a forgivable loan program that allows small businesses to cover up to eight weeks of payroll costs, mortgage interest and other expenses — was refilled

Billionaire entrepreneur Mark Cuban told CNBC on Thursday that he believes the stock market is overvalued, citing the uncertainty around consumer spending due to the coronavirus pandemic.  “I think it’s almost impossible to predict where consumer and corporate demand is going to come from,” he said on “Closing Bell.” ”And because of that, it’s hard to create a valuation

Xavier Bonghi In today’s environment, it’s just about unimaginable that someone would turn down a $40,000 forgivable loan. Benjamin Brandt, a certified financial planner and president of Capital City Wealth Management in Bismarck, North Dakota, did just that. He initially applied for the Paycheck Protection Program — a forgivable loan program that’s overseen by Treasury

Offices of Cutera Inc. in Brisbane, Calif. Google Earth The largest public companies that tapped the government’s emergency relief fund for small businesses nearly all had ready access to other forms of capital, according to a CNBC analysis of filings. Even amid the upheaval caused by the coronavirus pandemic, these companies raised millions of dollars

People are reflected in a closed store window, as the spread of the coronavirus disease (COVID-19) continues, on Main Street near the Breckenridge Ski Resort in Breckenridge, Colorado, U.S., April 13, 2020. Shannon Stapleton | Reuters Lia Hakim was excited to get her $292,000 loan from the federal Paycheck Protection Program to cover payroll at