After historic tornadoes swept through several states on the night of December 10, the city of Mayfield, Kentucky woke up to total devastation. Many small businesses were damaged or completely destroyed. But key amongst them was the Mayfield Consumer Products company, which was leveled.
The SBA Business Recovery Center opened at the Joe Creason Community Center in Benton, KY, on Wednesday. This is going to allow business owners to apply for Physical Injury Disaster Loans and Economic Injury Disaster Loans (EIDL).
Find out more about the SBA’s effort and the locations in Kentucky that qualify for the loans: SBA Establishes Aid Center in Kentucky to Help Small Business Owners with Tornado Disaster Loans
Regarding the Mayfield Consumer Products company, it lost eight employees that evening when 110 workers were rushing to meet the holiday rush. Even though the building was decimated, 102 people survived.
Read more on the tornadoes in Kentucky: Family-Owned Business the Epicenter of Tragedy Following Kentucky Tornadoes
Small Business News – December 17, 2021
Here’s a look at the rest of week’s news that affects small business owners:
Pantone, the world-leading expert in color, has announced its Color of the Year 2022 is a new shade of blue. Known as Very Peri – officially PANTONE 17-3938 Very Peri – the shade fuses a what Pantone describes as a “dynamic periwinkle blue hue with a vivifying violet red undertone.
Looking for a drag-and-drop mobile tool that handles everything from logos to social media posts? Adobe has just launched Creative Cloud Express. Customize thousands of templates quickly and easily. Use royalty-free stock images and premium fonts to create content on the go. “People today are searching for authenticity in an area of drop shipped mass produced commodities.
Uber Eats has taken its delivery service to new heights – literally. The online food and delivery platform has announced its first-ever food delivery job to space. Uber Eats is the first delivery platform to send food parcels into space. To accomplish the mission, the company teamed up with Yusaku Maezawa, Japanese entrepreneur and delivery superfan.
Small business loan approval rates at big banks have continued an upward trend, increasing from 14.1% in October to 14.2% in November. Biz2Credit Small Business Lending Index Report – November 2021 The data comes from the latest Biz2Credit Small Business Lending Index.
The deadline to apply for the National Small Business Week Awards is getting closer. Nominations for the 2022 awards will remain open until January 11 at 3pm ET. The awards are part of National Small Business Week.
The Streamlining EIDL Act is a bipartisan bill introduced in the U.S. Senate to improve the application process of the Economic Injury Disaster Loan (EIDL) as well as combat fraud in the program. The goal is to simplify the process so small businesses can quickly and effectively get answers to their applications.
Kabbage from American Express, providers of cash flow solutions for small businesses, has launched a new platform that offers small businesses flexible lines of credit. Kabbage Small Business Line of Credit Known as Kabbage Funding, the offering expands Kabbage’s digital cash flow platform for small businesses. Eligible applicants can receive funding of between $1,000 and $150,000.
The Small Business Association (SBA) has announced $1.1 million will be awarded in grants and contracts to promote the development, success and sustainability of native-owned businesses in the US. $1.1 Million in Grants and Awards Support Native American Entrepreneurs The awards are designed to address the challenges facing native American small business owners.
The number of employees still quitting their job remains at high. According to recent date from Gusto, providers of a cloud-based payroll, benefits and HR management software, quit rates in November this year stood at 3.4%, well above the 2.7% in November 2020. The figures are based on the US Bureau of Labor Statistics’ latest Job Opening and Labor Turnover Summary (JOLTS).
The Better Business Bureau (BBB) has released a list of the top 12 scams that could affect consumers, retailers and charity donors during Christmas time. The majority of the scams are perpetrated through emails and social media, with many people being particularly vulnerable to the latter.
Kellyanne Conway called them alternate facts. Newt Gingrich said it doesn’t matter what the facts are, it’s what people believe. Propaganda in politics and business have been around forever.
Joining the 50 Republicans in the Senate, Democrat Senators Joe Manchin, D-W.V., and Jon Tester, D-Mont. blocked President Biden’s vaccine mandate. This comes after the U.S. Court of Appeals for the Fifth Circuit first found “grave statutory and constitutional” issues with the mandate.
It takes resources to build the skills necessary to run a business. Creating a business plan, training employees, and building a strong foundation all require time, effort, and sometimes money. Luckily, grant programs and contests can help some aspiring entrepreneurs through the startup phase.