While these restrictions are crucial for public health, they are having an outsized impact on small businesses that are dependent upon foot traffic and in-person sales. The lockdowns to control the virus spread can have a devastating effect on your small business cash flow. However, there are...
As a particularly visible industry in the small business sector, the impact of COVID-19 on restaurants has drawn considerable attention. At the onset of the pandemic, cash balances fell the most among restaurants as compared to other industries, falling over 4...
We're here to help our small business clients during the coronavirus. Get information on how to apply for a business loan through the Paycheck Protection Program. Find other resources and services to support your business.
Surveys of small-business owners helped us generate a range of estimates. At the low end, half of small businesses experiencing a “large negative effect” from COVID-19 could become vulnerable to closure, according to these owners. At the high end, an additional quarter of small ...
5 Ways to Maximize Small Business Cash Flow During the COVID-19 Outbreak Check out our guide for 5 ways to keep your small business cash flow as strong as possible during the COVID-19 outbreak and resulting economic slowdown. Learn more ...
(71%), and more than half worry about having to permanently close their business (57%). Looking ahead, 66% are concerned about having to stay closed, or closing again, if there is a second wave of COVID-19. More are anxious about this in the West (77%) and Northeast (74%) than...
However, if the COVID-19 situation means your business effectively stops trading, you need to keep it alive during hibernation so that you can resume quickly once conditions improve. Renegotiate Outgoings Again If cash flow is halted, you again need to contact your suppliers, creditors, and uti...
What Can Small Business Do to Cope with Covid-19? 2. MITIGATE LOSSES AND TAKE ADVANTAGE OF AVAILABLE RELIEF a. Take advantage of whatever relief packages are available to help liquidity. Talk to your bank. The UAE Central Bank has recently announced a Dh256 billion Targeted Economic Support ...
If your business is in an urgent need of cash, an Express Bridge Loan could be just what you need to make payroll while you wait for the programs mentioned in the previous sections to come through. Keep in mind that an SBA Express Bridge Loan will have to be repaid. However, if you ...
A crisis like a pandemic brings cash shortages among SMEs and makes them vulnerable. Access to finance may shield them from such a crisis. FinTech, through its flexible cash flows, protects SMEs more than traditional finance [191]. Digital finance improves corporate resilience to the COVID-19 ...