Besides not paying them back, the funds many grants provide for small businesses are geared towards addressing specific goals. Some of the grants in this week’s lead roundup article are funding innovation, operational costs, expansion-related expenses, technology assistance, and more.
With grants ranging from $2,500 to $25,000 these grants are available in several states across the U.S. So if you need help to address a specific issue running your small business, take a look at the article for more information:
Speaking of specific funding, the SBA just announced $3M in grants for small business cyber security. The goal of this grant is to aid states in helping emerging small businesses with the implementation of their cyber security programs. As part of the Cybersecurity for Small Business Pilot Program, and through the Office of Entrepreneurial Development states can compete for these grants. Read more about this grant in the article:
And last but not least, the latest business grants for restaurants and restaurant revitalization is providing funds from the SBA, Uber Eats and Visa, USHCC and Grubhub, the National Restaurant Association Educational Foundation, along with some state and regional restaurant grants. Get more details in the article:
Small Business News Roundup – January 22, 2022
Here are the rest of the big headlines for small business owners this past week:
Faced with worker shortages, savvy restaurant owners are coming up with innovative ways to overcome issues related to staff scarcity. Dickey’s Barbecue Restaurants shared how the company is solving the problem that is impacting the restaurant trade across the United States.
Elon Musk founder of Tesla and SpaceX on Tuesday tweeted that he would eat a Happy Meal on TV if fast-food giant McDonald’s starts accepting the cryptocurrency Dogecoin. His endorsement for Dogecoin, the open-source peer-to-peer cryptocurrency, as a legitimate form of payment for burgers and fries led to Dogecoin’s value rising by 9% in less than 24 hours.
The US Small Business Administration (SBA) has partnered with Business Forward Inc., a non-profit organization that works with small business leaders, to launch the ‘Small Business Digital Alliance’ (SBDA).
The passing of President Biden’s Build Back Better (BBB) legislation could mean the scrapping of a loophole referred to as the backdoor Roth Individual Retirement Account (IRA). The Roth IRA unlike traditional IRAs is funded with after-tax dollars making contributions not tax-deductible. But once account holders start withdrawing funds, the money is tax-free.
One of the most serious issues facing small business owners this year is inflation. It rose by 7% in 2021, the highest in the last 40 years. With the cost of doing business rising from goods to employees, what does a small business owner need to do in 2022? On The Small Business Radio Show this week, I talked with Keewa Nurullah,who is a small kids boutique owner, called Kido in Chicago.
The small business banking platform Novo has announced that they have raised another $90 million in funding for small business development, bringing their total amount of funding raised to over $135 million.
When the Covid-19 pandemic struck in 2020, it put many professionals out of work. Others faced cutbacks on hours or began working remotely, which allowed more time for pursuing multiple income streams. These factors led to a major uptick in startup and small business launches, many of which are still thriving as we enter 2022.
It’s been reported that employees may receive raises of 5% or more this year as a way for employers to retain their staff in the face of the “great resignation.” Small business owners need to review compensation packages for employees and find ways to boost their offerings without busting their budgets. Raising wages and giving cash bonuses may not be feasible.
If you are a small business owner, you’ll probably welcome anything that makes the tax filing process, well…a little bit less taxing. That’s where tax preparation software comes in and automates much of the process.