Small Business

Paychex CEO Martin Mucci told CNBC on Tuesday that small business employment is falling again and is becoming as precarious as during the beginning of the U.S. coronavirus crisis. “We saw the July jobs index drop,” Mucci said on “Squawk Box.” ”That puts us back to about April, so we’re flat over the last three months.” Paychex, a

Jovita Carranza, administrator of the U.S. Small Business Administration, speaks as Steven Mnuchin, U.S. Treasury secretary, listens at a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images The federal government is about to turn off the tap on its supply of forgivable loans for small businesses. Saturday, Aug. 8 is

Howard Schultz, the former Starbucks CEO, on Tuesday urged Congress to provide additional financial support to small businesses, saying that the now-iconic coffee chain would have struggled to weather the economic impacts of the coronavirus pandemic in its early years.  In 1987, Starbucks had just 11 stores and about 100 employees, Schultz said on CNBC’s “Squawk

President Donald Trump speaks to the media before boarding Marine One on the South Lawn of the White House on July 31. Yuri Gripas | Abaca | Bloomberg | Getty Images President Donald Trump might not have to wait for Congress to pass his payroll tax cut. He may be able to do it on

Glenn Every’s lot is loaded with buses sitting idle. “We’re devastated,” said Every, the owner and operator of Tonche Transit, a small bus company in Mount Tremper, New York. ”It’s like someone turned a switch off on March 13, and with the exception of one trip, we have not turned a wheel since.” Every took over

LeoPatrizi There may be a financial storm brewing at a key intersection on Main Street. Roughly 35% of small-business owners in a survey said they’ve needed to tap their own funds — via a personal credit card and/or savings, for example — to help prop up their business in the months since the coronavirus whacked

The coronavirus shutdown can be the perfect opportunity for you to to become an entrepreneur, according to best-selling author Patrice Washington.  Washington lost her real estate business in 2008 and spent the next decade building a new career helping others with their finances. She is also the host of “The Redefining Wealth Podcast.” The 39-year-old

Cash-strapped entrepreneurs who took a federal Paycheck Protection Program loan and are running out of funding may get a second infusion of liquidity. The Senate’s HEALS Act,  the Republican proposal for another round of coronavirus relief funding, includes a measure that would permit certain small-business owners to borrow from the program a second time. Sens.

Kemal Yildirim | E+ | Getty Images The Senate HEALS Act would allow business owners to take a temporary 100% tax deduction on business meals. The GOP’s $1 trillion proposal, which was released on Monday, calls for a range of relief measures to help buoy Americans during the coronavirus pandemic. Aside from offering another round

Ryan German has kept 40 employees working at his restaurant, Caffe Gelato, in Newark, Delaware. The Paycheck Protection Program provided a lifeline to help him through an unprecedented spring as the coronavirus pandemic tore through the country. The loan, now exhausted, covered seven weeks of payroll. But the restaurant is facing down an unknown future with

Kevin O’Leary told CNBC on Monday that the long-term economic consequences of the coronavirus pandemic are coming into focus for companies in his personal investment portfolio.  “I’ve got enough focus now after all these months, 20% of my small private portfolio is going to fail,” O’Leary said on “Halftime Report.” ”They’re going to zero. They are in

A BronCore Fitness bootcamp in the Boston Commons. Bron Volney Jacob Gise opened a Body Fit Training franchise in Santa Monica, California, in November. By March, the flagship U.S. studio of the global chain had just become profitable. Gise had traveled to Australia, where Body Fit Training began, to learn the ropes, so he was

Jovita Carranza, administrator of the U.S. Small Business Administration (SBA), speaks as Steven Mnuchin, U.S. Treasury secretary, left, listens during a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images Details of  Senate Republicans’ version of a coronavirus aid bill are starting to emerge. Accountants question whether it will provide enough

A pedestrian wearing a protective mask walks along the boardwalk in Asbury Park, New Jersey, U.S., on Thursday July 9, 2020. Gabby Jones | Bloomberg via Getty Images Along the Eastern Shore beaches that span our home states of Maryland and Delaware, the summer season – usually a boon to our economy – is a

One look at the numbers, and the problem is clear. U.S. businesses are losing an estimated $1 trillion a month as businesses are disrupted due to the coronavirus pandemic, according to estimates by the American Property Casualty Insurance Association. Yet, insurers collect only $4.5 billion a month for all commercial property policies. This month, the

Patrice Washington became a real estate broker her senior year of college.  After graduating from USC in 2003, Washington opened a boutique real estate and mortgage brokerage with a team of employees to keep up with demand. By 2007, she had made millions and parked her earnings into 13 investment properties.  Then the housing market

Brian Taylor is your quintessential small business owner. He started Harlem Doggie Day Spa, a pet grooming and boarding business, 10 years ago in Harlem, New York. Like many small business owners, Taylor says he lost about 80% of his business when he had to temporarily close his storefront in early March due to the Covid-19

When the Covid-19 pandemic forced businesses to close and people to stay home, the way Americans obtained and consumed food changed drastically. Grocery stores were selling out and food banks were overwhelmed, but many farmers who used to supply restaurants, schools and commercial enterprises found themselves stuck with tons of extra products. As the initial

Pedestrians walk past Leavitt & Peirce in Harvard Square in Cambridge, MA on June 30, 2020. Lane Turner | The Boston Globe via Getty Images The city of Clemson, South Carolina, grows nearly four times its size from 8,000 to around 40,000 when Clemson University students return every fall. On football game days, the number

Cars wait in line for boxes of food from the Second Harvest Food Bank of Central Florida at a drive-through event at the City of Destiny church in Orange County, Florida. Paul Hennessy/SOPA Images/LightRocket via Getty Images ‘Horrendous time’ “This is a horrendous time to have a lapse in benefits,” said Wendy Edelberg, senior fellow