10 US cities hardest hit by coronavirus unemployment

10 US cities hardest hit by coronavirus unemployment


An incredible 22 million jobs have been lost in the United States during the COVID-19 pandemic . To find out which cities are most vulnerable to rising unemployment, WalletHub has published a new report. <! – ->

" Cities with the greatest increase in unemployment after COVID-19 " were identified where companies and workers were more affected by the pandemic. WalletHub, the personal finance website, compared unemployment rates in 180 cities across the United States. The data compared the unemployment rates in March 2020 with those in March 2019 and January 2020.

10 cities hardest hit by coronavirus unemployment

The investigation found that the ten cities most affected by unemployment during the Coronavirus are:

  1. Seattle, WA
  2. Hialeah, FL
  3. North Las Vegas, NV
  4. Miami, FL
  5. Henderson, NV
  6. Las Vegas, NV
  7. Aurora, CO
  8. Denver, CO
  9. Cleveland, OH
  10. Colorado Springs, CO
  11. Reno, NV
  12. Dover, DE
  13. Orlando, FL
  14. Port St. Lucie, FL
  15. Salt Lake City, UT
  16. Long Beach, CA
  17. Santa Clarita, CA
  18. Los Angeles, CA
  19. Chicago, IL
  20. Fort Lauderdale, FL

Unemployment has risen sharply since January 2020

<! – -> In one of the hardest hit cities in Seattle, unemployment changed by 86.92% between March 2020 and March 2019. Between March 2020 and January 2020 the unemployment changes were shocking. Hialeah, for example, saw a 145.91% change in unemployment during this period.

The report notes how many of the jobs lost in the past few weeks have been created in non-essential industries. Companies operating in non-essential industries like tourism, gastronomy and entertainment had to close during the pandemic. Even those who have remained open have had to fire employees and have been hit hard by the economic shock.

Recording after locking will be difficult.

The study confirms how difficult it will be for small businesses in these cities to recover if the barrier is lifted. The results underline the importance of financial support for local companies.

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As Jill Gonzalez, WalletHub analyst, commented in a question and answer session:

“Cities can minimize the increase in their unemployment rates by supporting local industries most affected by the COVID-19 pandemic, such as tourism, retail or entertainment. While cities have no control over when these companies can reopen, they could grant tax breaks (similar to the federal government) to motivate companies to keep employees on the payroll. <! – ->

“Some mayors also draw money from reserve funds or distribute money that would have been used for less important purposes to help the workers. Mayors can also use their influence to campaign for Congress to help the struggling local communities, which several major city mayors have done so far, ”continued Gonzalez.

It is important for small businesses to be aware of the support available to them. It is important that small businesses use the incentives available to keep employees on the payroll. With this support, small businesses can better pick up the parts if the shutdown is lifted.

Image: Depositphotos.com <! – ->

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6 Simple Rules and Tips for Visual Storytelling in Marketing

6 Simple Rules and Tips for Visual Storytelling in Marketing


The human brain absorbs visual information 600 times faster than noise and smell. People also remember pictures with logical connections between them that are 65% better than text. But how can you make the visual information generated by your brand even more effective? Some visual storytelling tips will help you. <! – ->



Tips for visual storytelling

Let's dive into these 6 simple visual storytelling tips:

1. Choose your goal and metrics

Aimless marketing only leads to budget losses. So don't let your story-based content be commercially aimless.

<! – -> Storytelling can be integrated into any level of your marketing strategy, including a single ad, marketing campaign, social network tone, and general branding.

If visual storytelling is a new tool for you, start on a small scale. For example, use visual storytelling to promote a new product on social networks. In this case, the goal of your message is to increase sales of goods. Metrics that you can use to assess the success of a storytelling approach are sales, customer inquiries, and social resonance (reposts, brand or product mentions, and comments).

2. Set a budget to find your tools

You can use visual storytelling on a single product advertising level or through branding in social networks. Each of the options means that you need a certain budget. The smaller your communication scale, the cheaper the tools.

Master visual storytelling by working with small messages. This approach will help you figure out which stories are most popular with your target audience and invest more in communication that will really work in the future.

Visual storytelling can be presented in the form of a static image with brand titles, custom animations, videos, face filters, online games, and more. The cheapest way to start visual storytelling is to use images that I use a lot and then edit them according to your needs. There are many editing tools so you can design like a pro without the need for design experience. <! – ->

3. Emotions are everything

The emotional context of your brand can be very broad. Curiosity can encourage your customers to browse your online catalog. The desire to be part of a cool crowd encourages users to make certain products bestsellers. The euphoria when ordering a long-awaited product can result in an online shop user ordering something different as part of an order.

You can work with either positive or negative emotions, since the latter can also trigger a purchase. If your potential customer gets confused by your competitor while reading the assembly instructions, they are more likely to buy goods from you the next time you offer them a solution such as free installation.

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<! – -> Analyze which emotions are at the heart of a potential customer. Anger? Despair? Joy? This emotional trigger influences your storyline and its visual style. Doing so increases your chances of drawing attention to your product and encouraging them to take action.

4. Create a hero to save the day

The main rule for creating a realistic hero of your story is relevance to your audience. In order for your story to be involved, a hero (and an antihero) must be familiar with your audience. It is wonderful if the prototype of the hero is representative of your target group. At the same time, the hero can be the product you are promoting or your brand.

And who is an antihero? A good antihero embodies the hero's fears and represents a serious threat to him or her. An antihero should also be easily recognizable to the target group. Use your audience research to learn their fears and create an antihero based on this information.

5. Create a storyboard based on conflicts

A story is impossible without conflict. The conflict begins with your hero facing up to his challenges. Exciting stories are based on the clash of a hero and an antihero (the deepest fear of a hero). Your hero can win or die, or you can leave an open ending that gives you room to continue. Create your first story with the following structure:

  • Introduction
  • Rising action
  • climax
  • Falling action
  • Resolution

A storyboard usually consists of simple images that reflect the essence of each structural element in your story. You can even use it as content for Instagram or Facebook stories. However, to convert your storyboard frames into a video, banner ad, or other material, you have to go one step further.

6. Visualize your story

When creating the layout of your story, consider the technical characteristics of the platform on which you want to publish content. For example, storytelling for Instagram should only be based on graphics and short videos with no text splash.

Visual storytelling for YouTube or TikTok can take the form of a series or a long film. At the same time, visual storytelling on the landing page should provide users with constant motivation to scroll down the page or follow CTA. So think about how the user will interact with your story and determine its shape, style, and scale.

Also use some proven rules for visual storytelling. First, use color and color contrasts to highlight the story's theme. Second, you strive for minimalism. Your pictures or videos shouldn't contain a single detail that doesn't matter in the story. Third, you control users' eyes by arranging elements on the image so that they can guide users along a specific visual hierarchy.

Bonus End: Here are some books that have helped me develop my visual storytelling skills: Visual storytelling: How to speak to the audience without saying a word by Morgan Sandler, graphic storytelling and visual storytelling by Will Eisner and The Power of Visual storytelling by Ekaterina Walter.

Image: Depositphotos.com




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5 Tips for Starting Your Online Teaching Business – Kris Amerikos

5 Tips for Starting Your Online Teaching Business – Kris Amerikos



5 Tips for Starting Your Online Teaching Business or Your Tutoring Business Online

1. Think like an entrepreneur, not an employee
2. Don’t listen to the noise
3. Don’t quit your day job
4. Target a specific audience
5. Remember that you don’t know everything – go out and learn it!

More resources here: https://www.teaching-revolution.com/blog

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❗️Useful links❗️
👉Free Basic Training for Teachers: https://www.teaching-revolution.com/p/start

✍️Subscribe: https://goo.gl/qGPcK8
👉Facebook: https://www.facebook.com/teachingrevolution
👉Instagram: https://www.instagram.com/krisamerikos/

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These cities have the most vulnerable businesses during the pandemic

These cities have the most vulnerable businesses during the pandemic


The Coronavirus Pandemic affected virtually all industries, companies, and cities in the United States. Nowhere is immune to the aftermath of the deadly virus. <! – ->



Most Vulnerable Companies

Cities that rely heavily on entertainment, retail, accommodation, and food are the most vulnerable.

Cities most at risk from a pandemic

A study by LendingTree America's largest online credit market analyzed the cities most affected by the pandemic. The study ranked the 100 metropolitan cities with the most retail companies to determine which cities are most affected.

Myrtle Beach, South Carolina at greatest risk

<! – -> The researchers found that medium-sized cities are most at risk from the effects of the pandemic. Myrtle Beach, Southern California has the highest concentration of local businesses in the retail, entertainment, food, and lodging sectors. As a result, Myrtle Beach is the city most affected by the pandemic.

This is followed by Salisbury, Maryland, where nearly a third of the companies operate in one of the most affected sectors. The third largest city is Scranton, Pennsylvania, where 28.8% of companies operate in the most vulnerable industries.

Finding the right support for companies

The study provides insights into how the ongoing pandemic affects small businesses and which industries are most at risk. It is important that small businesses stay informed of the economic and business impact of this unprecedented crisis. Knowing which industries and locations are most affected will give companies an insight into the support that may be available to them.

Enterprises operating in the entertainment, retail, accommodation and food sectors are most vulnerable to the consequences of the pandemic ban. Myrtle Beach has the highest proportion of these types of businesses. This coastal city is therefore most affected by the economic slowdown. As the authors of the report write:

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“Myrtle Beach visitors are critical to the region's economy as they promote jobs, businesses, and the quality of life for residents. The region's 20.4 million annual visitors impact on $ 7 billion. On April 6, South Carolina joined the growing list of states to close non-essential companies to the public. As the summer months draw closer, Myrtle Beach and other US tourist cities could miss out on important revenue while these stores remain closed. “<! – ->

Salisbury is the second most affected city

With over 32% of companies in the most vulnerable industries, Salisbury is the second most affected city by the pandemic. All nonessential businesses were closed in Maryland on March 23.

The report forwards companies in Salisbury to the Salisbury Area Coronavirus Recovery Task Force . This resource provides a wealth of information to support local businesses during these testing times.

Larger cities are less vulnerable

<! – -> The report shows that larger cities like Denver and Minneapolis are less dependent on retail, entertainment, food and lodging. As a result, these cities are less affected by the pandemic than other US cities.

LendingTree's report shows how important it is for companies to stay informed about the support resources available to them . Especially those who operate in the most vulnerable sectors.

Image: Depositphotos.com

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Hot Selling item Product for Business | Amazon Best Selling Product | online selling business ideas

Hot Selling item Product for Business | Amazon Best Selling Product | online selling business ideas



सिंगल पीस के लिए :-

Electronic Led Mosquito Killer Lamp https://amzn.to/2AHzzYB

Wood Burning 3D Flame https://amzn.to/2VaEtqq

Alien Bluetooth speaker https://amzn.to/30KDOgJ

Website: https://www.bulkysellers.com/

Contact:-

7303544267, 7428545611

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Telegram braodcast link https://t.me/bulkysellers

App link https://play.google.com/store/apps/details?id=com.bulkysellers.aakashverma.bulkysellers

Bulkysellers.com

G17/15, Sector 15, Pocket 17, Sector 15G, Rohini, Delhi,Near bansiwala sweets 110089

https://maps.app.goo.gl/CoSLKMMf7cK6Xf2F6

#amazon#topselling#businessidea

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All registration deadlines for 2020 are not the same

All registration deadlines for 2020 are not the same


April 15 was formerly a tax day. Due to COVID-19 the IRS changed a number of filing deadlines so that most filing and payment deadlines for taxes will typically fall from April 1, 2020 to July 14, 2020 until extended to July 15, 2020. Some new amendments to the federal law also affect some due dates. But not all federal tax deadlines have changed. And not all countries have followed suit, which has created a very confusing situation. <! – ->



Deadlines for filing taxes until 2020

Here's what you need to know about tax periods … federal, state, and local periods.

Federal income tax return

The due date for filing federal tax returns for 2019 and paying the tax amount due this year for individuals and businesses in calendar year C is July 15, 2020. If more time is required to file a tax return, there is one automatic renewal available for asking. Individuals submit Form 4868 and companies use Form 7004 to receive an extension of registration until October 15, 2020. However, there is no time left to pay the balance for the 2019 return. July 15 is the last payment deadline. From that day on, interest and penalties will apply. The IRS offers a variety of options for those who cannot pay all or part of their tax bill until July 15th.

State income tax return

<! – -> All states and municipalities with income taxes have also granted extension exemptions, but this was not uniform. The vast majority have provided federal term extensions, but some have shorter or longer extensions. For example, the Idaho period was only extended until June 15, 2020, while the Iowa period was extended until July 31, 2020. The AICPA contains a list of the extension dates at the state level. Be sure to monitor these deadlines. Additional extensions may be provided for you.

Estimated taxes

In general, the first two installments of the federal government's estimated taxes for 2020 would have been due on April 15 and June 15. Both payments are now due by July 15, 2020. However, due to a change in the law, the self-employed can choose to defer payment of the so-called employer's share of the social security taxes that are part of the self-employment tax (the self-employment tax is part of the estimated taxes). Self-employed persons who use this deferral option and reduce their estimated taxes accordingly for 2020 will then pay 50% of the deferred amount by December 31, 2021 and the other 50% by December 31, 2022.

Note: If you have previously scheduled tax payments for April 15 and June 15 through EFPTS.gov you can change your payment date . If you've never used this free electronic payment method but want to, remember that registration can take up to 5 business days. So don't delay your online application.

At the state level, different extensions apply to estimated taxes. For example, Iowa did not extend the 2020 deadline for paying estimated taxes, even though a penalty was granted until late July. New Jersey extended the first rate of estimated tax for 2020 (due April 15) to July 15; No extension was planned for the second installment due on June 15th. But California and Massachusetts, like the federal government, extended both the first and second installments until July 15. The District of Columbia did not provide an extension for estimated taxes.

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Employment increases

Employers are required to file labor taxes according to their current schedule (which depends on the amount of their payroll) and to submit certain employer declarations. The deadline for filing labor taxes has not changed. The due dates for the quarterly employer declarations (Form 941) have not changed. <! – ->

These forms can be used to apply for reimbursement of certain labor taxes when employers are required to provide paid sick leave and paid family vacation, or when applying for the employee retention loan. Here you will find instructions for the paid vacation programs and the employee loyalty loan of the IRS. In addition, the IRS is exempt from the penalty for not paying labor taxes for employers who are eligible for these reimbursable credits, but only in the amount of those credits.

Employers may also be required to withhold state income taxes and to deposit them in good time. And employers have to pay state unemployment taxes. Again, the rules for these actions may or may not have changed in your state.

Deadlines for other tax measures

<! – -> In addition to income and employment taxes, the deadline for certain other tax measures has been extended:

  • If a tax refund is due to you from 2016, the IRS has extended this deadline for filing a refund claim to July 15, 2020. If you owe a state income tax refund from 2016, check if you have a similar extension. Your time to file a refund for state and / or local income taxes may have expired on April 15.
  • If you have sold real estate at a profit and would like to defer the tax by investing the proceeds in a qualified opportunity fund and the 180-day investment period has decreased between April 1, 2020 and July 14, 2020, the deadline is for the completion of the investment July 15, 2020.

Conclusion on the registration deadlines for 2020

You can monitor federal tax deadlines through the corona virus tax relief for businesses and IRS tax-exempt companies . Check your state's deadlines through your Department of Revenue, Finance, or Tax. You can find the contact information for your country here . And work with your CPA or other tax advisor to set the applicable deadlines for your tax measures now.

Image: Depositphotos.com

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Dickey's grill pit helps the community fight COVID 19

Dickey's grill pit helps the community fight COVID 19


Like so many restaurants, Dickey's Barbecue Pit Rancho Mirage is currently having trouble with the COVID-19 outbreak. However, the independent franchise tries to find ways to stay afloat while offering real added value to needy customers. <! – ->

Read about the team's efforts and the company's journey in this week's Small Business Spotlight.



What Business Is Doing

Operates a grill restaurant … and more.

<! – -> Franchise owner Lisa Weaver told Small Business Trends: “We sell Texas BbQ with free delivery, pick-up and pick-up at the roadside. Currently we also sell toilet paper, paper towels, water, gloves and towels. “

Business Niche

Give something back to the community at a time of need.

Weaver explains: “We are currently giving away free meals to all those in need. We will also volunteer for meals on wheels. "

She added: "This is all new. We want to stay in business, help the community and above all keep our employees busy. "

 COVID-19 fight "width =" 850 "height =" 560 "data-wp-processing =" 1 "ezimgfmt =" rs rscb6 src ng ngcb6 "data-ezsrc =" https: // smallbiztrends. com / wp-content / uploads / 2020/03 / 262AE9F1-106F-4395-8089-21FF82421501-850x1133.jpeg "/> <! - <span id= ->

How the business started

As an escape from the American company.

Weaver says she was looking to escape her previous career. So she bought a franchise.

Biggest win

<! – -> Be part of a local event.

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Weaver says: “The summer was rough. The partnership with the Rancho Mirage Chamber of Commerce for the taste of summer saved us. "

Greatest risk

Put the community above their own needs in Covid-19 battles.

Weaver explains: “At the moment it is a big risk to give away food if our sales decrease by 90 percent. I also think we have to help each other. "

How they would spend an additional $ 100,000

Cover bills and support the needy.

Weaver adds: "At the moment I would use it to pay my lease, my ancillary costs and my employees full-time and give away as much food as people need."

Favorite team lunch

Half of the menu.

Weaver states that they love "beef brisket, pulled pork, coleslaw, grilled beans, macaroni and cheese".

Favorite quote

"If you think you can do something or think you can do nothing, you are right." -Henry Ford.

* * * * *

Image: Dickey's Rancho Mirage barbecue pit




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How To Utilise Your Time Really Well To Grow Your Online Business

How To Utilise Your Time Really Well To Grow Your Online Business



Do you want to manage your time better while growing your online business? Watch this – http://sidz.co.formula

In this video, I break down the 3 elements of productivity.
– Non-productive
– Productive
– Super Productive

I drill down in the elements which keep us stuck in life.

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I also give you ideas on how you can remove “anchors” which keep you stuck.

Ultimately, it comes down to the power of your mind.

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Mojichat has a brand promotion program for streamers

Mojichat has a brand promotion program for streamers


Mojichat has announced the launch of a new advertising program for live stream gaming fans. The program will provide brand images and links that are built into the streamers' custom avatars and in-game chats. <! – ->

According to Mojichat, the program based on cost-per-thousand impressions (CPM) can multiply the revenue of streamer up to ten times, avoiding intrusive pre-roll or mid-stream inserts, which streamers reduce viewership by 20% or more. This is achieved while brands can reach many thousands of unique users at the same time in a single seven-hour stream.

Mojichat sells the advertisements through his agency Lunchbox GG. With Lunchbox GG, streamers can enter into agreements with brands for advertising. Companies can use the more than 20 million streamers to look for ways to monetize their gaming activities.

<! – -> “Mojichat is a turnkey solution for everyone, regardless of whether they are brands that want to cause a sensation in sport or a game that starts in the masses. We bring talent to the brand with streamers (and their audience), ”said Jeremy Greene, CEO of Mojichat, in an interview with Small Business Trends.

Since its launch in January, Mojichat has tens of thousands of streamers using its app with a 95% retention rate and 100,000 new unique views per week. Streamers participating in Mojichat can reach an average audience of 15,000 with a combined social reach of more than 72 million.



Streaming as the next marketing frontier

This form of advertising will help small businesses develop Gen X (35-54 years old) and millennials (18-34 years old) who make up a significant part of streaming demographics. Especially in the current self-isolation and work from home. This means that companies have further access to their target customers via smartphones, laptops and other devices.

As the gaming streaming landscape evolves and telecommunications innovations break through barriers, the streaming landscape will continue to open up and allow more users.

“We offer small businesses the ability to show their ads with a higher engagement rate than Facebook before Gen Z and millennials. We keep our prices competitive, ”said Greene. <! – ->

Mojichat brand advertising for streamers

With Mojichat's custom emote and warning system, streamers can create unique game personalities. Options include a range of face shapes, hair, skin types, hairstyles, clothing and animation options. And it uses the resulting avatar on any streaming video game platform, including Facebook, YouTube, Twitch, and Mixer.

With the latest offer from Mojichat, small businesses can not only open up new marketing channels, but also provide analyzes that allow companies to adapt their marketing messages to the most important demographic conditions.

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<! – -> “Our services can segment the audience according to male and female streamers, streamer geo, game genre and game. Our impressions are guaranteed and validated by API calls to every streaming service, ”assured Greene.

Mojichat already works within the SMS system and social platforms on mobile devices. This includes Facebook, Twitter, Instagram, WhatsApp, WeChat, Line and email. A web version is also available directly on the Mojichat website for users to download. This enables the flexible use of a broadcasting platform that supports transparent GIFs such as Streamelements, Twitch Studios and OBS.

Mojichat bit donations, subscriptions or other warnings from a viewer during a live stream trigger the streamer's brand avatar and the associated CPM payment. In addition, Mojichat provides a link to the advertiser's content that appears in the chat boxes every time a brand notification is sent so that all warnings can be implemented. This means that each seven-hour stream can contain an average of 98 brand impressions. This is based on the average number of warnings Mojichat users receive per stream.

Mojichat currently offers 3D personalized, full body animated emotes with 500 million different options.

New advertising channels for small businesses

With the global economy becoming more digital, customers are now interacting with brands across a variety of platforms and channels. For small businesses to remain competitive, they need to increase their presence on different channels. Whether online, in the store, on social media or on other channels.

The logic is simple: By implementing multi-channel marketing strategies your company increases the likelihood that your marketing content will be seen by more consumers. As more customers see your brand, the potential to generate revenue through sales or subscriptions increases.

A multi-channel marketing platform is important for today's business environment. Customers now have the ability to literally be in multiple locations at the same time. In addition to your stationary business, there is a growing number of customer contact points available. This includes social media sites, websites, emails and now game streaming sites.

Multi-channel marketing gives your customers the choice of how and where they interact with your brand. This means that you deal with potential customers at several points of contact. You have more opportunities to attract potential customers and convert them into customers.

Image: Mojichat




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5% of small businesses received money in round 1 of the PPP, 60% applied

5% of small businesses received money in round 1 of the PPP, 60% applied


With only 5% of small businesses that received a loan from the Paycheck Protection Program (PPP) the first round did not reach their goal. The PPP was designed to help small businesses, but the disclosure of some applicants has shown that multi-million / billion-dollar companies have submitted and received tens of millions of dollars. <! – ->

This is largely why the $ 349 billion emergency funding ran out of money in just 13 days. And according to a new survey by LendingTree small business owners are expressing their frustration.

One of the respondents in the survey:

<! – -> “I kept my employees on the payroll, even though we closed because it was the right thing to do. Unemployment in our state is only $ 275 a month. They cannot live from this. Now I'm in the balance and waiting for the PPP money. I have no idea when or if it will get through. We'll be ruined if I keep them and the money doesn't get through. “

The concern of this business owner was the intended goal of the PPP. Simply put, the PPP should provide forgivable loans to help small business owners keep employees on their payroll during the COVID 19 outbreak.



Statistics on the paycheck protection program

This survey was carried out by LendingTree with the participation of 1,260 small business owners. Of these, 757 business owners reported having applied for the PPP loan.

One of the most startling results of the survey is that only 5% of small business owners have received funding so far. This is despite the fact that 6 out of 10 applicants completed their applications within the first five days.

 PPP statistics "width =" 800 "height =" 592 "ezimgfmt =" rs rscb6 src ng ngcb6 srcset "data-ezsrc =" https://smallbiztrends.com/wp-content/uploads/2020 / 04 / lendingTree.jpg "data-ez /> <! - <span id= ->

Image: LendingTree
Of the 757 applicants, only 35 respondents received their loans. This leaves 61% pending a decision and 35% that have not been approved. And since the SBA no longer accepts PPP and Economic Injury Disaster Loan applications on April 16, it may be too late, even for those still waiting to make a decision.

Simplification of the application process

<! – -> Although funds for the PPP program were channeled through the SBA, the banks accepted the applications and issued the loans. According to LendingTree, "some large banks were late to accept applications and many prioritized customers with existing banking relationships." This is because they did not have time to review the guidelines.

Inconsistent communication and lack of clarity about bank documents were a problem for more than half (57%) of small business owners. To make matters worse, every tenth applicant had difficulty collecting all the necessary documents.

 Statistics on the paycheck protection program "width =" 800 "height =" 654 "ezimgfmt =" rs rscb6 src ng ngcb6 srcset "data-ezsrc =" https://smallbiztrends.com/wp-content/uploads/ 2020 / 04 / Lending-tree-2.jpg "data-ez /> </p>
<!-- WP QUADS Content Ad Plugin v. 2.0.5 -->
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Image: LendingTree
It is important to note that 43% of respondents had no problems applying for the PPP loan. And those who got the loan, payroll (88%) were the biggest expenses. This is partly due to a clause in the loan that states that 75% of the loan must be spent on the payroll if you want to be eligible for the loan. The remaining 25% can be used for rent / mortgage and utilities.

Respondents say they will use rent or mortgage (59%), utilities (50%), interest on existing loans (29%), and benefits (18%).

When it came to the actual amount of the loan, it was an average of $ 49,335.40. More than two thirds or 68% said they had received the requested amount, 15% more and 18% less. With this amount, 56% of recipients can reopen or continue operation for 90 days. However, 27% insist that keeping your business going is definitely not enough.

Dismissal of employees

A whopping 58% of small businesses say they have fired employees because of corona virus-related problems. But the remaining 42% also face similar challenges. Of these, 11% say they will be released in the near future, and 55% say that this is an option.

Further layoffs are on the way. And some industries will be more affected than others.

Probably fires staff:

  • Accommodation and meals: 82%
  • Administration and support as well as waste management: 75%
  • Mining, quarry and oil and gas production: 75%
  • Arts, entertainment and recreation: 68%
  • Manufacture: 65%

 PPP statistics "width =" 800 "height =" 551 "ezimgfmt =" rs rscb6 src ng ngcb6 srcset "data-ezsrc =" https://smallbiztrends.com/wp-content/uploads/2020 / 04 / Lending-tree-3.jpg "data-ez /> <span id=

Image: LendingTree
Least likely layoffs:

  • Management of companies and businesses: 20%
  • Information: 22%
  • Real estate, rental and leasing: 31%
  • Wholesale: 35%
  • Finance and insurance: 36%

The good news is that Congress is approving yet another round of funding. And let's hope that this time small businesses get the money they need to pay their employees and keep their business going.

More importantly, however, the process needs to be simplified so that small businesses can quickly apply and get the credit they need. Because small companies are reducing their workforce in large numbers.

Image: Depositphotos.com




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