In this week’s roundup, there are multiple opportunities for small businesses to apply for grants ranging from $5,000 to $20,000 and much more. These grants come from public and private organizations looking to help small businesses across the country. Considering the current economic conditions owners are facing, these funds will provide timely support to keep their business running until the economy gets on the road to recovery. Especially when it comes to inflation and supply chain issues affecting higher prices across the board. Take a look at the many opportunities available in grants.
On the private side of grants, State Farm is launching a program through its partnership with the Local Initiatives Support Corporation. The grant will focus its efforts in 12 metropolitan areas across the U.S. Additional grants for retail, local manufacturing, small business investment projects, technology advancement, marketing costs, and much more are also available. Read to find out more about these opportunities.
Don’t miss the May deadline for these grants that are now available in many cities. From microbusiness grants of $2,500 to fundings of $5,000, $7,500, $10,000, and more, these are great opportunities that you must apply for before the end of the month. It is important to note, that grants have a range of requirements for their applicants, and the due date is one of the more important ones. So, make sure to always apply as early as possible to give yourself a better chance.
Grants for women and minority small business owners are also available across the country. From mom-owned businesses to black, Asian, First Nations, and others, these grants look to help underserved entrepreneurs. Grants from $500 to $25,000 are now available.
If you are in a state affected by the drought currently taking place and it has been declared a drought disaster area, you can apply for an Economic Injury Disaster Loan (EIDL loan). The SBA has added several states in the West, so take a look and see if you live in one of these disaster areas before you apply.
On a related topic, the budget for the Small Business Administration has been increased for fiscal year 2023. And when it comes to providing funds for small business owners, the new budget has increased the SBAs lending authority by $6.5 billion. This is good news for first-time business owners and those looking to improve and expand their operations.
Small Business News Roundup – May 6, 2022
Take a look at what else is taking place in the world of small business in the rest of this week’s roundup:
Snap Inc., the US camera and social media company that develops technological products and services including Snapchat, has launched Pixy. Snapchat Launches Pixy, the Drone Companion That Fits In Your Pocket Hailed as a ‘friendly flying camera’, the pocket-sized drone can record and capture photos as it flies around a subject.
Amazon as of May 1, 2022, has retired the Alexa.com site, the service that provides web traffic analysis. Amazon the e-commerce giant acquired Alexa in 1999 and has since provided web traffic data, global rankings, and other information on over 30 million websites. Amazon Retires Alexa.com For decades businesses and individuals had used Alexa to conduct an in-depth examination of web events.
It’s too late to apply for a new Covid 19 EIDL loan. But if you’d like to increase the amount of an existing loan, or request consideration, you better hurry. The deadline is May 6. EIDL Loan Deadline Approaching How much money a small business can borrow with an EIDL loan varies. The Small Business Administration will review your paperwork to make the determination.
Small businesses lost 120,000 jobs from March to April, according to the ADP National Employment Report issued May 4, 2022. That’s despite the nation seeing an overall gain in jobs of 247,000 (medium and large-sized businesses) during the same time period. Franchise jobs also saw an increase, gaining 47,400 jobs.
Wix is partnering with LegalZoom to enable entrepreneurs in the US to begin the legal formation of their business while creating a suitable online presence at the same time.
President Joe Biden has officially declared May 1 – 7 as National Small Business Week. National Small Business Week is celebrated every year in the US in the first week of May. This year’s week-long celebration will be centered on ‘Building a Better America Through Entrepreneurship’.
As the business world continues to rebound from the COVID pandemic, small business owners are demonstrating shifts in focus that helped them survive these last few years. According to small business owners, sales remains a major challenge, but marketing has taken precedence in the past two years.
Republicans from the House Committee on Small Business recently introduced a bill called the “Improve the SBA (Small Business Administration) Act.” They cited fraud and mismanagement by the SBA as their reason. The SBA should not be involved in direct lending, Republicans on the committee agreed.
How do you build a company for entrepreneurs that earns 7 figures of profit for the last eight years in a row? On The Small Business Radio Show, I talked with John Lee Dumas (JLD) who is the founder and host of the award-winning podcast, Entrepreneurs On Fire.
The Small Business Administration (SBA) theme for the upcoming National Small Business Week is “Building a Better America Through Entrepreneurship.” SBA Director of Strategic Alliances Morning Washburn announced the schedule for the week, May 2-7, which includes a virtual summit, a winner’s event, field office events and a national bus tour.
Apple have announced a new version of iMovie which includes features that make it even easier to create amazing edited videos on iPhone and iPad devices. Apple Says New iMovie 3.0 Makes It Easier to Edit and Share Videos The new version of iMovie has a Storyboards feature which teaches content creators how to edit and improve their video storytelling skills with pre-made templates.
As many as 2 in 3 Americans have more interest in buy now pay later (BNPL) in 2022 compared to before the pandemic. The Rise of Buy Now-Pay Later Payment Options for Consumers and Businesses The growing demand for BNPL is highlighted in an infographic by Opy, a payments fintech.
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