Small Business

In the days following the death of George Floyd, Brooklyn-based entrepreneur Aurora James was skeptical of the deluge of corporate support for the Black community. “As a Black woman, and also as a business owner, I was reading it, but I wasn’t necessarily feeling it to be true,” said James, who runs Brother Vellies, a company

Agatha Kulaga, co-founder and CEO of Ovenly Source: Agatha Kulaga The past few months certainly haven’t been easy for small businesses. Many had to shut their doors due to the coronavirus pandemic. While some may never reopen, others are ramping up their business — and hoping they don’t have to shut down again. Retail and

Spencer Platt | Getty Images Desy’s is one of the last bars left standing in Morrisville, North Carolina.  Owner Desislava Nikolova made her American dream come true by opening Desy’s and another bar in nearby Cary after immigrating to America from Bulgaria 11 years ago. While the coronavirus pandemic forced the majority of her counterparts in the local

A pool under construction in Washington, DC. Pat Pugliese | CNBC There is a lot of activity in Justin Sullivan’s backyard, as workers hammer out his new deck, and jackhammers pound through the basement. Concrete for the new pool has already been poured. The Sullivans had planned a renovation before the pandemic hit, but then

US President Donald Trump answers question during a press conference in the Brady Briefing Room of the White House in Washington, DC, on August 5, 2020. Olivie Douliery | AFP | Getty Images Even if President Donald Trump were to push out a payroll tax holiday via executive order, there’s no guarantee workers will pocket

Paychex CEO Martin Mucci told CNBC on Tuesday that small business employment is falling again and is becoming as precarious as during the beginning of the U.S. coronavirus crisis. “We saw the July jobs index drop,” Mucci said on “Squawk Box.” ”That puts us back to about April, so we’re flat over the last three months.” Paychex, a

Jovita Carranza, administrator of the U.S. Small Business Administration, speaks as Steven Mnuchin, U.S. Treasury secretary, listens at a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images The federal government is about to turn off the tap on its supply of forgivable loans for small businesses. Saturday, Aug. 8 is

Howard Schultz, the former Starbucks CEO, on Tuesday urged Congress to provide additional financial support to small businesses, saying that the now-iconic coffee chain would have struggled to weather the economic impacts of the coronavirus pandemic in its early years.  In 1987, Starbucks had just 11 stores and about 100 employees, Schultz said on CNBC’s “Squawk

President Donald Trump speaks to the media before boarding Marine One on the South Lawn of the White House on July 31. Yuri Gripas | Abaca | Bloomberg | Getty Images President Donald Trump might not have to wait for Congress to pass his payroll tax cut. He may be able to do it on

Glenn Every’s lot is loaded with buses sitting idle. “We’re devastated,” said Every, the owner and operator of Tonche Transit, a small bus company in Mount Tremper, New York. ”It’s like someone turned a switch off on March 13, and with the exception of one trip, we have not turned a wheel since.” Every took over

LeoPatrizi There may be a financial storm brewing at a key intersection on Main Street. Roughly 35% of small-business owners in a survey said they’ve needed to tap their own funds — via a personal credit card and/or savings, for example — to help prop up their business in the months since the coronavirus whacked

The coronavirus shutdown can be the perfect opportunity for you to to become an entrepreneur, according to best-selling author Patrice Washington.  Washington lost her real estate business in 2008 and spent the next decade building a new career helping others with their finances. She is also the host of “The Redefining Wealth Podcast.” The 39-year-old

Cash-strapped entrepreneurs who took a federal Paycheck Protection Program loan and are running out of funding may get a second infusion of liquidity. The Senate’s HEALS Act,  the Republican proposal for another round of coronavirus relief funding, includes a measure that would permit certain small-business owners to borrow from the program a second time. Sens.

Kemal Yildirim | E+ | Getty Images The Senate HEALS Act would allow business owners to take a temporary 100% tax deduction on business meals. The GOP’s $1 trillion proposal, which was released on Monday, calls for a range of relief measures to help buoy Americans during the coronavirus pandemic. Aside from offering another round

Ryan German has kept 40 employees working at his restaurant, Caffe Gelato, in Newark, Delaware. The Paycheck Protection Program provided a lifeline to help him through an unprecedented spring as the coronavirus pandemic tore through the country. The loan, now exhausted, covered seven weeks of payroll. But the restaurant is facing down an unknown future with

Kevin O’Leary told CNBC on Monday that the long-term economic consequences of the coronavirus pandemic are coming into focus for companies in his personal investment portfolio.  “I’ve got enough focus now after all these months, 20% of my small private portfolio is going to fail,” O’Leary said on “Halftime Report.” ”They’re going to zero. They are in

A BronCore Fitness bootcamp in the Boston Commons. Bron Volney Jacob Gise opened a Body Fit Training franchise in Santa Monica, California, in November. By March, the flagship U.S. studio of the global chain had just become profitable. Gise had traveled to Australia, where Body Fit Training began, to learn the ropes, so he was

Jovita Carranza, administrator of the U.S. Small Business Administration (SBA), speaks as Steven Mnuchin, U.S. Treasury secretary, left, listens during a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images Details of  Senate Republicans’ version of a coronavirus aid bill are starting to emerge. Accountants question whether it will provide enough

A pedestrian wearing a protective mask walks along the boardwalk in Asbury Park, New Jersey, U.S., on Thursday July 9, 2020. Gabby Jones | Bloomberg via Getty Images Along the Eastern Shore beaches that span our home states of Maryland and Delaware, the summer season – usually a boon to our economy – is a

One look at the numbers, and the problem is clear. U.S. businesses are losing an estimated $1 trillion a month as businesses are disrupted due to the coronavirus pandemic, according to estimates by the American Property Casualty Insurance Association. Yet, insurers collect only $4.5 billion a month for all commercial property policies. This month, the