Small Business

The owner of a Georgia barbershop said she is not planning to open her doors Friday, when the state lifts coronavirus-related restrictions for businesses like hers. “I’m definitely not opening this Friday. I don’t have a calendar date for opening,” Diane Fall said Thursday on CNBC’s “Squawk Box.” Fall, who owns Maxim Barbers in Decatur, Georgia,

A pedestrian walks past a boarded up Lori’s Diner in San Francisco, California, U.S., on Tuesday, March 24, 2020. David Paul Morris | Bloomberg | Getty Images WASHINGTON – State and local governments are warning of a wave of layoffs and pay cuts after getting left out of the federal coronavirus relief package expected to

Temporary closed signage is seen at a store in Manhattan borough following the outbreak of coronavirus disease (COVID-19), in New York City, U.S., March 15, 2020. Jeenah Moon | Reuters Over half of chief executives around the world believe coronavirus is a significant threat to their business, but worse, 11% fear their business won’t survive

Jamie Black-Lewis received loans from the Paycheck Protection Program for her two spas, Oasis Medspa & Salon and Amai Day Spa, in Washington state. Many of her 35 employees think they will make more money collecting unemployment benefits than from their regular paychecks. Jamie Black-Lewis Jamie Black-Lewis felt like she won the lottery after getting

NEW YORK, NEW YORK – JULY 30: Alan Rosen visits the Build Brunch to discuss Junior’s Restaurant & Bakery at Build Studio on July 30, 2019 in New York City. (Photo by Gary Gershoff/Getty Images) Gary Gershoff Small-business owners who got a forgivable loan from the $349 billion Paycheck Protection Program must now decide what

Howard Schultz said Tuesday that additional funding for the Paycheck Protection Program is not adequate to help small restaurants survive the coronavirus pandemic.  “What’s needed is not another version of PPP. Again, good intent but it’s the wrong medicine,” the billionaire former Starbucks CEO said on “Squawk Box.”  Rather, Schultz said he believes the government needs to create

Coca-Cola Chairman and CEO James Quincey said Tuesday that easing restrictions on business during the coronavirus pandemic needs to be done with an understanding it may not last.  “We shouldn’t assume that each step forward is permanent necessarily,” Quincey said on CNBC’s “Squawk on the Street.”  People must recognize that the economic restart must be done in

As the coronavirus pandemic continues to take its toll on the U.S. economy, a new survey from the National Restaurant Association lays out how dire the situation is for the industry. More than two-thirds of the restaurant workforce, or 8 million employees, have lost their jobs as shelter-in-place orders and mandatory closures have severely impacted

Billionaire entrepreneur Mark Cuban joined CNBC’s “Fast Money” on Monday.  Cuban, owner of the NBA’s Dallas Mavericks, has been vocal during the coronavirus pandemic, arguing for government relief measures that prioritize workers and puts restrictions on stock buybacks.  Cuban last week criticized how some banks were handling the newly created small business loan program, telling CNBC that

The government’s nearly $350 billion loan program for small businesses officially ran out of funds on April 16, even as many American business owners are still struggling to make ends meet or plan for an uncertain future amid the coronavirus pandemic. Congress and the Trump Administration continue to negotiate on adding another $250 billion to

A worker at NYC-based tech company Adafruit makes a face shield during the coronavirus pandemic in 2020. Adafruit.com Across New York City, businesses hardly resemble their pre-pandemic operations. Fashion designers are sewing face masks instead of garments, restaurants have transformed into grocery stores and distilleries are making alcohol that’s too strong to drink. Kings County

filadendron As small businesses sought emergency federal loans, financial advisors not only assisted clients, but also applied for aid to bolster their practices. The Paycheck Protection Program, the $349 billion small-business loan offering, ran out of money on April 16 after being open for close to two weeks. More than 1.6 million businesses were approved

Chris Myers, a Baltimore-based photographer, has applied for a PPP loan Chris Myers | Chris Myers Photography Chris Myers applied for a forgivable loan from the federal government. He’s running his business as if the additional lifeline may not be on its way. “I’m just cobbling enough work together to try covering my studio rent

Lawmakers must put politics to the side and agree on a plan to expand the small business rescue loan program by Monday, U.S. Chamber of Commerce CEO Tom Donohue told CNBC on Friday. “We all understand it. We’re coming up on an election,” he said on “Closing Bell.” “If they don’t, nobody’s going to get

With rooms sitting empty, smaller hotel operators are weighing options to defer debt payments and in some cases, close properties. While the pain caused by disruptions from the coronavirus pandemic is being felt across the travel industry, it is particularly acute for the Indian diaspora in the U.S. Nearly 50% of U.S. hotels are owned

Robert Herjavec said his role as an investor on ”Shark Tank” makes him optimistic about the U.S. economy on the other side of the coronavirus pandemic.  “The human condition is about hope,” Herjavec said Thursday on CNBC’s “Squawk Alley.” “Every time someone comes on ‘Shark Tank,’ they’re full of hope and they’re full of optimism.” “This is a

Rep. Greg Murphy, R-N.C., said Thursday he believes there are ways for businesses such as barbershops and salons to reopen safely during the coronavirus pandemic.  Murphy, a urologist who was elected to Congress in 2019, said on CNBC’s ”The Exchange” that restrictions should remain in place for people who are “most at risk, most susceptible” to

Amazon’s dominance has been solidified during the coronavirus pandemic, but the consequences of that are complicated, CNBC’s Jim Cramer said Thursday.  “Amazon is either the Grim Reaper for everyone or the greatest thing that’s ever happened to the American consumer. Or maybe both,” Cramer said on “Squawk on the Street.”  “Has Amazon not become a country

Larry Sprung, president of Mitlin Financial in Hauppauge, New York, was able to begin the application process with Bank of America when the Paycheck Protection Program opened April 3. Larry Sprung A forgivable loan program meant to help ailing small businesses has met with much criticism amid delays, confusion and frustration. But some small-business owners

Junior’s Cheesecake owner Alan Rosen on Wednesday defended his decision to leave his restaurant employees on furlough despite receiving money from the Treasury Department’s newly created small business loan program.  Rosen told CNBC on Wednesday that he believes keeping the 650 workers on furlough, for the time being, is in the long-term best interest of the business