Here’s a helpful guide from WSJ to help small-business owners navigate the tricky waters they’ll face in the weeks and months ahead
As the coronavirus pandemic swept through every corner of the business world, America’s small companies, from local restaurants to Main Street stores, were among the hardest hit.
How can small employers navigate the many questions of strategy, management, finance and leadership that they face on the path to recovery? This package of stories, along with a related series of live events, is a guide to help these small employers navigate the many questions they face on the path to recovery.
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A Florida Man Reportedly Used Covid-19 Small Business Loans to Buy $318,497 Lamborghini, Luxury GoodsIt is increasingly rare for the U.S. to come together over a common enemy (like, a global pandemic couldn’t even do that), but allow me to offer up David Tyler Hines. The 29-year-old Florida man applied for $13.5 million in taxpayer funds from the Paycheck Protection Program (PPP)—which sought to help small businesses keep employees on their payroll during coronavirus closures—and was approved for nearly $4 million in three forgivable, low-interest PPP loans despite the fact that he either did not actually have any employees to retain or paid them pennies compared to what he filed for, BuzzFeed reports. Not only that, but he has been charged with bank fraud after allegedly using the money on luxury goods for himself. Gotta love a huckster who uses covid-19 as an opportunity to go shopping!\n
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Big D.C. Companies Scooped Up Pandemic Aid Intended To Keep Small Businesses AfloatAmong the D.C.-based companies that got interest-free small business loans: Well-heeled consulting companies, law firms, a right-wing media outlet, a philanthropic arm of the Catholic Church, an 80-restaurant 'fast casual' chain. wamu885
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In India, a diminished Nissan bets big on a small SUVBy any measure, Nissan Motor Co Ltd has had a dreadful run in India. A push to revive its lower-end Datsun brand flopped, sales have slumped 60% over the past five years and its sole plant in the country is operating way below capacity.
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‘This Is a Real Kick in the Shorts’: Small-Town Theaters Owners React to AMC’s VOD Pact With UniversalJeff Logan, owner of Logan Luxury Theatres, has been struggling to make ends meet for most of 2020. After being closed for months due to coronavirus, he recently reopened the three movie theaters h…
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Covid-19 Shuttered More Than 1 Million Small Businesses. Here Is How Five Survived.Should you pivot to get through the crisis or stay the course? Five lessons from small businesses roiled by a global pandemic.
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