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Connecticut Restaurant Relief Fund Available to State Eateries; Feb. 5 Deadline

  • Connecticut Restaurant Relief Fund, which aims to provide immediate relief to state eateries that have suffered major losses due to the COVID-19 pandemic, is taking applications
  • Qualifying recipients can receive a one-time grant of $5,000
  • The program is open to donations and will continue if funding allows
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Congressional Budget Office Forecasts Faster Than Expected Rebound From COVID-19

  • Congressional Budget Office offers rosy projections for next decade, suggesting that GDP will recover to pre-pandemic levels later this year even without additional stimulus
  • Forecast calls for a slower recovery in the labor market, anticipating that it will return to its pre-pandemic size in 2022 while the unemployment rate won’t hit pre-pandemic levels until 2024
  • Report by the nonpartisan office adds new factor to debate over further stimulus proposed by the Biden administration
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Bartering Among Businesses Sees Revival During COVID-19

  • Bartering allows businesses to swap their products and services for those of another company
  • Trades can be done informally or via formal exchanges
  • Bartering platform BizX reports increased engagement during COVID-19, especially among restaurants
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Business News Roundup, February 1, 2021

Negotiations on President Joe Biden's $1.9 trillion economic stimulus proposal are underway, with Republicans proposing a much smaller package and Democrats pursuing other relief such as the repeal of a state tax deduction cap. An analysis looks at the effectiveness…

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Renewed SBA Debt Relief Extension Begins Today

  • Economic Aid Act extends a debt relief program for SBA loans originally created under the CARES Act at the outset of the COVID-19 pandemic
  • Qualifying borrowers can receive up to $9,000 a month in principal, interest, and fees on 7(a), 504, or Micrloans
  • Relief period varies by loan type, and could be reduced if SBA determines that funding is insufficient
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What the Post-Pandemic Future Might Hold for Movie Theaters

  • Movie theaters have been one of the hardest-hit sectors of the economy during COVID-19, with most venues closed for months with little revenue
  • Streaming options could cut into theater revenues post-pandemic, but theater owners bank on continued appeal of the cinematic experience
  • Shuttered Venue Operators Grant offers further assistance to qualifying theaters
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Can You Succeed As An Entrepreneur On Your First Try?

  • Successful entrepreneurs have often learned from the experience of at least one business failure
  • Even if you don’t have experience in starting or running a business, you can build on your strengths to find success
  • Partners, consultants, and others can help you account for any skills gaps
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Can Business Interruption Insurance Help Your Company Weather the COVID-19 Pandemic?

  • Insurers often offer business interruption insurance to reimburse policyholders for loss in revenue caused by temporary shutdowns
  • Few businesses have been able to receive relief from these policies, as they usually include a property damage requirement or specifically exclude virus-related interruptions
  • Some companies have won victories in court by challenging specific aspects of the policy or approaching their claim in a different way
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Public-Private Partnerships Gain Steam as Municipalities Face Diminished Revenues

  • States and municipalities more likely to consider public-private partnerships as they face budget uncertainties due to COVID-19
  • Partnerships had seen pre-pandemic growth due to their potential to develop public infrastructure more efficiently
  • However, the arrangement has also raised concerns about cost overruns, liability, and other issues
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