There are still funds available from the government in the form of loans and grants from the Small Business Administration (SBA). To be exact, it’s about $ 100 billion, which could make the start of 2022 a great start for your small business if you apply now and get approval.
Due to the time limits on these loans, you have until December 31st for the COVID-19 Economic Disaster (EIDL) Loan and Targeted EIDL Advance. Not only that, but you can apply for additional loans well after December 31st if there is any funds available. This also includes applicants who have been approved previously.
The key is to meet the December 31 deadline if you haven’t applied at all. And once the application is filed, the SBA will accept and consider the reconsideration and appeal requests. The SBA goes out of its way to donate money, all you have to do is apply.
Read: $ 100 billion in SBA loans and grants still available
Small Business News – December 10, 2021
Here’s the rest of the small business news in this week’s recap:
Amazon Web Services outage affects small businesses
The Amazon Web Services (AWS) outage affected small businesses. Why, because AWS provides servers, storage, networking, remote computing, email, mobile development, and security to businesses of all sizes. And if your small business was using AWS for any of these services, it could have been affected during the outage.
These are the most stolen items on Smash-and-Grab flights
Designer clothes are the most stolen items by organized crime retail gangs or theft. This organized retail crime has cost retailers an average of over $ 700,000 out of every billion dollars in sales over the past five consecutive years, and that number has increased further according to the latest figures.
New Report Highlights True Cost of Smash-and-Grab Theft to Retailers
Images of mobs of criminals flooding stores to steal thefts cost businesses a lot of money. According to the National Retail Federation (NRF), a small group can get away with thousands of dollars in merchandise in under a minute.
Consumers spent less on Black Friday and Cyber Monday sales in 2021
The Adobe Digital Economy Index found consumer spending for Cyber Monday was down 1.4% year-on-year. And for Black Friday, it fell 1.3% year-on-year to $ 8.9 billion from $ 9 billion (2020). Even though the numbers for Thanksgiving Day did not come down, spending remained stable at $ 5.1 billion.
Inflation and Omicron May Not Affect Holiday Shopping Season 2021
The holiday season could exceed spending forecasts and amount to a record year, despite inflation, supply chain issues and COVID-19 challenges like the omicron variant. National Retail Federation (NRF) chief economist Jack Kleinhenz said the 2021 holiday season is on track to beat NRF’s forecast for record spending, despite the many challenges.
Federal contracting reforms to help underserved small businesses
The Biden administration is implementing new reforms that aim to increase federal contracting opportunities for underserved small businesses. The reforms were pushed by the chairman of the US Senate Committee on Small Business and Entrepreneurship, Ben Cardin (D-Md.), Who recently introduced similar legislation.
Small businesses get some relief at the pump as gas prices drop slightly
Small businesses are getting some relief at the pump this week as gasoline prices fell very slightly last week. According to AAA, the current price of a gallon of regular gasoline is $ 3.359. That’s down 3.5 cents from the national average price last week. The price of diesel currently stands at $ 3,620 per gallon, also down slightly from last week’s average of $ 3,640.
Corporate financial crime is more prevalent than you might think
Almost half or 47% of businesses are affected by financial crime, resulting in total losses of $ 1.45 trillion worldwide. And these activities are responsible for affecting or harming economic activity and the reputation of companies and brands. That’s according to a report from ReputationUP Coach.
How Self-Marketing Can Make You (or Your Business) Famous
We live in the age of self-marketing geniuses like former President Donald Trump and famous brands like Facebook and Google.
Comcast RISE Business Grants Return in January for Women and Minority Entrepreneurs
Small business owners have so much to deal with that it’s not always possible to apply for grants as they arise. Fortunately, many programs offer multiple tours or opportunities to reach even more businesses. The following small business grant programs have recently been extended or supplemented. Read on to see if any current opportunities are relevant to your small business.
Inventory software for small businesses
Inventory management goes far beyond simple product tracking. For example, there are powerful types of inventory management software for small businesses that offer greater control over everything from tracking sales to identifying slow items to managing supplier information.
20 of the Most Profitable Small Businesses
Small businesses are a vital part of the economy, accounting for more than half of all jobs in the United States. And while there are many different types of small businesses, each with their own challenges and advantages, they all have one thing in common: the potential for big profits.
The best app for selling things locally
Maybe you’re heading to greener pastures or just trying to organize the clutter in your home. Whatever the reason, selling junk all over your home is a snap with the right app. Additionally, you can use these apps to sell items for charity or as part of a garage sale.
25 passive income ideas
Do you have a job? If so, then you are working for someone else. Passive income is the holy grail of financial freedom. This is what prepares people for worry-free and stress-free retirement. And it doesn’t take a lot of effort to start winning most of the time, either. This article explores 25 ideas that can help you create passive income streams with your free time and money.