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Small Business

Steps to Take If Your Business Is Burglarized or Vandalized

  • Reporting the crime and documenting losses are crucial steps if your business is burglarized or damaged by vandals
  • Businesses should also be prepared to respond to cybercrime
  • Losses from riots or civil disorders are generally covered by insurance policies, though this could change after widespread unrest this summer
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Thousands of Theaters Join Call to “Save Our Stages”

  • Live music venues call on fans to join call to “Support Our Stages” with bipartisan $10 billion relief bill
  • Theaters have been hard-hit due to show cancellations and a lack of viable revenue alternatives during COVID-19 pandemic
  • National Independent Venue Association estimates nine out of 10 theaters may close in the next couple of months if situation continues
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1 in 3 Small Business Owners Tapped Personal Funds to Stay Afloat During Pandemic

  • Thirty-five percent of small business owners in recent CreditCards.com survey say they used savings or personal credit cards to help cover expenses during COVID-19 pandemic
  • Seventy percent use some form of assistance, such as PPP or business savings account
  • Most small businesses are hoping for increase in sales to stay in business or meet growth targets
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What the Proposed HEALS Act Means for Businesses and Workers

  • Senate Republicans’ proposal for continued COVID-19 relief would provide additional stimulus while reducing unemployment supplement
  • Second round of Paycheck Protection Program would focus on small businesses
  • Additional funds aim to relieve workers of child care burden
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How Small Businesses Influence Larger Ones

  • While large businesses may seem to overshadow their smaller counterparts, small businesses play a key role in influencing them
  • Small businesses have advantages over large businesses such as more free reign for innovation and less red tape
  • Small businesses and large businesses can produce harmonious relationships
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“Let’s Go 860” Campaign Boosts Promotion of Southeastern Connecticut Businesses

  • Let’s Go 860 marketing campaign lets residents of southeastern Connecticut know which businesses have reopened after COVID-19 shutdowns
  • Google Maps and traditional advertising involved in effort to address confusion over status of small businesses
  • Partners include local chambers of commerce and media
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Small Business Employees Return to Work – With Reduced Hours and Wages

  • Data shows a 2.4 percent increase in small business headcount in June compared to the previous month
  • Cuts in hours and pay rates have been more than furloughs likely to account for reduced wages
  • Employees have also shown an increased willingness to voluntarily leave a job for new opportunities
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Small Business Loan Approval Rate Improves In June

  • The approval rate for small business loans from big banks increased from 11.5% in May to 13.5% in June, according to the Biz2Credit Small Business Lending Index.
  • The approval rate was higher among smaller banks, increasing from 16.9 percent in May to 18.4 percent in June.
  • Approval rates at institutional lenders and credit unions rose slightly.
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All Small Mentor-Protégé Program

  • Course emphasizes on whether Small Mentor-Protégé program is suitable for your business
  • For the entrepreneurs who want to learn on how small businesses fit into the federal buying marketplace
  • Helps you explore whether your business is ready to sell to the federal government, then how to identify if your business is eligible to benefit from the All Small Mentor-Protégé Program
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