Funds for Small Businesses promised by the CARES Act has already exceeded it’s funding limit.
Small business owners who were going for the Payment Protection Program to keep their employees on payroll, pay their mortgages and bills, and more may be S.O.L. UNLESS more funding is approved.
Without payroll funding, this will surely mean even more layoffs and higher unemployment claims predicted to move towards the 16th percentile range by next week.
BUT, there is a silver lining.
Mark Cuban, billionaire and owner of the Dallas Mavericks, said he’s cashing out EVERYTHING. Here’s why:
“When we look back in ten years, there’s going to be some amazing companies created, and having access to cash, or having cash, is going to give me an opportunity to invest in them.”
He’s seeing opportunity being created in the small business market!
*Side note: Cuban also pointed out real estate being one of the best investments you can make right now. Purchasing a home if you can amidst the volatility could mean short-term gains in the near future! But that’s a post for another time.
When all seems lost, know that this is your chance to contemplate your choices and choose the path that speaks to you the most!
It’s going to look different for everyone. Some might want to abandon their businesses completely and start anew, while others may hunker down and ride it out. What will set the successful entrepreneurs apart from the rest is seeing where there’s a pocket that needs to be filled and diving right into it. And I mean put your ALL into it so you can provide the BEST/MOST UNIQUE product/service/program out there!!!
There are so many amazing resources for small businesses– and a TON of them are FREE right now!!!
Check these FREE resources to get you started:
- U.S. Small Business Association (SBA)
- Canva – FREE Graphic Design Platform
- Yelp for Business Owners
- Google My Business
- SOCIAL MEDIA PLATFORMS!!!! Did you know everyone is spending even MORE time on social media right now? It’s the PERFECT time to market and with lots of businesses dropping their marketing budgets, now is the BEST time it has EVER been to run cheap ads on Facebook and Instagram!
For Real Estate Agents:
CAR and NAR are offering free learning tools right now!!!! Don’t miss out on this! It probably won’t be for long and most likely won’t be offered for free again!
Stay healthy. Be mindful.