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COVID-19 Disruptions Creating Opportunities in the Tourism Industry

  • Contributor to Entrepreneur suggests the travel and tourism industry is ripe for entrepreneurs who can support a shift in consumer preferences
  • COVID-19 pandemic significantly impacted the industry and also put a greater focus on health and safety
  • Economic disruptions have historically opened up opportunities for entrepreneurs who can help revitalize the impacted industry
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Senate Proposal Would Strengthen Minority Business Development Agency

  • A group of Democratic senators is looking to make the Minority Business Development Agency permanent and expand its scope
  • Legislation would take steps such as expanding the MBDA’s grant making capacity and establishing more regional offices
  • Senators say minority-owned businesses are in greater need of assistance due to the disproportionate impact of the COVID-19 pandemic
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Business News Roundup, April 26, 2021

A potential shift toward a piecemeal infrastructure approach, consistent durable goods demand, wealthy investors helping family-run businesses, reducing wind power waste, and a resumption of the Johnson & Johnson COVID-19 vaccine are among this morning's top business news items. National…

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SBA Launches New EIDL Targeted Assistance, Reopens SVOG

  • New initiative from the U.S. Small Business Administration opens additional grant assistance to Targeted EIDL Advance applicants
  • Businesses with 10 or fewer employees in low-income communities can receive $5,000 grant if they have suffered serious economic losses during the COVID-19 pandemic
  • SBA also reopens Shuttered Venue Operators Grant program and partners with point-of-sale providers for upcoming Restaurant Revitalization Fund
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NFIB Offers Guidance on Small Business Income Tax Deduction

  • National Federation of Independent Business issues guidance on Small Business Deduction
  • Deduction applies to pass-through entities that aren’t organized as C-corporations
  • Organization advocates for making the deduction permanent
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Survey Finds Greater Stress Among Working Parents During COVID-19, But Also Considerable Employer Support

  • Survey highlights some of the key issues experienced by working parents
  • Stress, longer working hours among most common problems
  • Employers can take steps to offer more flexibility while also being aware of issues that might cause working parents to see employment elsewhere
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Echoing Biden’s Call, Lamont Calls on Connecticut Businesses to Push COVID-19 Vaccinations

  • Governor Ned Lamont encourages businesses and labor leaders to incentive COVID-19 vaccines for workers
  • Call comes soon after similar appeal from President Joe Biden and as Connecticut plans to lift business restrictions on May 19
  • Daily positivity rate falls to 1.78 percent
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Fed Study Suggests COVID-19 Impact on Businesses May Be Less Severe Than Originally Feared

  • Federal Reserve study suggests that business closures directly attributed to the COVID-19 pandemic are not as severe as originally expected
  • Closures among small businesses were elevated, but in line with higher closure rates among newer, smaller firms
  • Report cautions that it is relying on non-traditional data and that the first official statistical reports on the issue won’t be released until this fall
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Small Business Lending Ticks Up in March

  • Lenders are slightly more willing to approve small business loans amid signs of strengthening economy
  • Loan approval rate remains considerably below pre-pandemic levels
  • Alternative lenders have the highest loan approval rate
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