Small Business News

For many of us, 2020 has been the hardest year of our lives. As a society we are all going through this together, we know the pandemic will eventually end, and we all look forward to better days. Since the pandemic started the small business community has suffered greatly. We hear many stories about business owners struggling to survive. About business owners having to lay off staff and close permanently. But we draw inspiration from many of the innovation stories making headlines, stories about businesses who made a pivot to join the fight, and support healthcare professionals on the frontlines of the virus by converting factories to make PPE. We hear how small businesses navigated applying for the first round of PPP loans, and hope meaningful relief for small business comes soon.  We draw inspiration from small business progress, and we stand strong with the people who went after their dreams. The pandemic will end, but dreams will not. It’s been said so many times that small businesses are the engine of our economy, and they truly are. Our commitment to helping small businesses with their financial health will continue to be unwavering.   Supporting small businesses, helping them to create a better tomorrow   Find out more about how Experian is supporting small businesses. https://www.experian.com/small-business/mybusinessfuture #smallbusiness #mybusinessfuture #businesscredit

The Federal Reserve is conducting a national survey of small businesses. This survey amplifies the voices of small businesses and provides timely economic data to policymakers who are weighing decisions that affect small businesses. The survey is open to businesses currently in operation, those recently closed, and those about to launch. All responses are confidential and survey results will be shared with participants. Make your voice heard and take the 10- minute survey today!   If you have problems with the link above, copy and paste the following URL into a new browser window: http://frb.co1.qualtrics.com/jfe/form/SV_aXW9acz1pbB4x7L?orgid=Experian&parentid=&reserve_bank=National The survey closes on October 31, 2020. Questions? Contact ATLFedSmallBusiness@atl.frb.org.  

Corporate Pledge Experian pledges to continue to help small businesses manage their risk, grow their business, and navigate their financial health during and after these turbulent times. We are offering small business owners 20% off their initial business credit report and 50 percent off a one-year subscription to monitor their business credit score. Going through this unprecedented time takes strength, and we pledge to support small businesses. https://www.smartbusinessreports.com/godaddy/ Experian is proud to have served and continue serving the small business community for over 70 years. We have learned a lot, as we have stood with small business through the best and worst of times. Most importantly, we understand that as the economy faces challenges, so do the ambitions and dreams of small business owners – and we have tailored our solutions with this in mind. Our credit data is an integral ingredient in the success of any business. An accurate view of financial health help businesses better evaluate trading partners, tap into new markets and make real-time decisions. It’s important that every small business owner knows where they stand and how others see them, especially during the times when they may need access to new capital. To ensure that small businesses have additional resources at their disposal to make informed decisions at this critical time, we are providing discounts on our 1-year monitoring service subscriptions. We also feel a deep obligation to our clients, the lenders, trade creditors, utilities, insurance underwriters, and more as they strive to support small businesses during this time. To further help small businesses gain access to capital they need, Experian also launched its free COVID-19 U.S. Business Risk Index to assist lenders and government organizations in understanding how to make lending options available to the business segments that need it the most. This new risk index can help business risk professionals better understand the impact that the pandemic may have on commercial operations based on several key factors. We hope that our data and advanced analytics enable our clients to offer fair and responsible lending to small businesses that need it most during this time. We encourage small business owners and partners to hold fast to your original visions and leverage our experience. No dream is too big, whether you are a company of one or one hundred, we’re here to support you. And together, we can create a better tomorrow. Hiq Lee, PresidentExperian Business Information Services #OPENWESTAND

Federal Small Business Stimulus Programs In response to the economic impact of the Coronavirus, President Donald Trump signed legislation that will allocate $2.2 trillion in federal small business stimulus funding to support the U.S. economy,  small businesses are among those that will benefit. The Small Business Administration, under the stimulus package, will oversee the Paycheck Protection Program, and the Economic Injury Disaster Loans and Loan Advance program which combined will distribute $350 billion to small businesses that can be partially forgiven if the companies meet certain requirements. To help clarify the programs, we have invited small business author and expert Barry Moltz to share what small businesses need to know about these programs. Where to watch: LinkedIn Live - the stream will start at approximately 10:00 a.m. (Pacific) on the Experian company page, just come to our page and click on the stream to join the chat.YouTube - you can also watch live on our YouTube channel, be sure to subscribe so you can receive notifications. Twitter/Periscope - we will also multistream to our Twitter account, be sure to follow us there too.