Friday Five Business Briefing – April 17, 2020
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Running a business got tougher since COVID-19 made its unwelcome appearance, so we’re using today’s post to provide you with resources, information and inspiration to help you manage the pandemic’s challenges and disruptions.
- Assistance for small businesses and non-profits — The CARES Act passed by Congress provides loans, unemployment benefit, debt relief and more. Check out this summary of programs to see which might be available to you or your employees.
In addition to government programs, the GoFundMe Small Business Relief Initiative, Facebook’s Small Business Grants Program and unemployment for the self-employed may be ways to help you weather the economic crisis.
- The Michigan Chamber of Commerce provides timely info and education for addressing the impacts of the coronavirus — Live and on-demand webinars, conference calls and updates are all part of the Chamber’s Coronavirus Toolkit, where you’ll find info on unemployment benefits, financial relief, paid leave, HR resources, communications planning and more.
- Mark Cuban’s advice on avoiding layoffs — “If you can find other services to offer, do it,” Cuban says. (Michigan’s TentCraft did exactly this.) He recommends brainstorming with your peers and your competitors; they are in the same boat and together you can try to figure out the best way to reignite your industry. Get Cuban’s others tips for what to do during the coronavirus pandemic.
- Setbacks fuel success — Jason Feifer, editor-in-chief at Entrepreneur, candidly shares how he got to his current position after being a “detriment and drag” in a different newsroom. Read his and others’ story of building, rebuilding and building again.
- Take care of yourself — The Centers for Disease Control and Prevention (CDC) now says people of any age who have serious underlying medical conditions may be at higher risk for severe illness from COVID-19. Stress can threaten everyone’s health. See what the CDC recommends for supporting yourself and having a plan for if you get sick.
Thank you to our Friday Five sources: Ann Arbor Spark, GoFundMe, Facebook, Michigan.gov, Michigan Chamber of Commerce, Inc., CNBC, Entrepreneur and the CDC.
Do you have business banking questions? Contact our knowledgeable business development managers or call 800-991-2221. During the coronavirus confinement, we’re available online, by phone and by appointment at select offices equipped to maximize safety.
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