This week President Trump signed the Flexibility Act for Paycheck Protection Plan with the goal of ensuring more small businesses received the funds they need.
The new legislation, HR7010, comes after the uproar over large companies getting tens of millions of dollars from the PPP. Remember, small businesses were the intended target of the loan program.
With HR7010 application and loan use time will be extended so small businesses can use the funds taking into consideration the current economic environment. The bill also changes the requirements regarding the rehiring of employees because businesses won’t be fully operational with many of the parameters that are in place.
Overall, this should help more small businesses get the funds they need as well as making some needed exceptions so they can fully take advantage of the PPP.
You can read the rest of the story here.
And don’t forget to check out the rest of the week in small business headlines in our news roundup below:
Small Business News Roundup – June 12, 2020
Skyroam Solis Lite Hotspot Keeps You Connected Virtually Anywhere in the World
Skyroam has launched its Solis Lite 4G LTE global WiFi hotspot geared to provide 4G LTE connection. The Solis Lite is shareable with up to 10 devices at the same time and comes with a virtual SIM offering unlimited LTE data in over 130 countries. Retailing at $119.99 this puck-shaped WIFI companion comes in handy during business travels, the home office or the shop.
86% of Small Businesses Overcame Technological Issues to Keep Business as Usual
With 86% of small businesses overcoming technological issues during the lockdown to keep business as usual, what is the viability of continuing to work from home after the lockdown gets lifted. This is one of the timely questions a new survey from Onecom asks from the 1,000 respondents made up of small and medium-sized business workers.
Papalook Introduces a Wide-Angle HD Webcam for Video Calls and Livestreaming
Papalook, creators of innovative webcam technology, has launched a low-cost wide-angle webcam for live streaming and video calls. Dubbed as being “essential gear for video conferencing,” the HD webcams feature a 90-degree wide-angle view. New Papalook Wide Angle Webcam With an extended wide-angle view, the webcams are designed to accommodate groups of users during business meetings.
Act-On Software Rebrands to Offer Modern Marketing Tools to Businesses
Act-on announced it made further enhancements to its marketing offerings for businesses. According to the company, the added features in its growth marketing platform will help businesses to better deliver brand experiences and improve personalized product engagements.
1 in 4 Retailers Lost Critical Business Data Permanently Without a Backup System
The 2020 Data Protection Report from Rewind highlights the degree to which eCommerce merchants are underestimating the loss of the data they store. So much so, one in four retailers say they have lost critical business data permanently. For eCommerce companies this data is absolutely essential for powering their business and driving sales online.
81% of Local Searches for Small Businesses are Unbranded
A survey of small businesses by Uberall has found that 81% of local searches for small businesses are unbranded. This is compared with 19% of queries that feature a branded term.
Trustpilot Location Reviews Now Allows Customer Insights for Multiple Store Locations
Trustpilot has unveiled its 360-degree customer review offering allowing businesses to collect, manage, showcase, and reply to reviews for each of their business locations. The location-specific reviews are designed to help brick-and-mortar stores with multiple locations, franchises, and multi-branch businesses to manage their customer services.
AirDroid Remote Support Uses an AR Camera to Provide Help in a Single App
The integration of Augmented Reality (AR) in AirDroid Remote Support promises to dramatically improve customer support. Imagine having the instructions from a customer support center, instructor or business directly on your smartphone. This feature will add a level of efficiency that will make your workforce more productive because they will be able to resolve more issues.
How to Engage People on Your Next Video Call
It seems as though most small business team members are in one long virtual meeting all day. They are constantly using tools like Zoom, Skype and Amazon Chime to communicate with customers and each other.
Only 1/3 of Small Businesses Inform Employees of Personal Device Security Requirements
More Americans work from home now than ever before. That means a small business employee uses their own device or devices for work. But you may not be doing enough to ensure the security of those employees’ personal devices. A survey commissioned by Kaspersky found just one-third of small businesses inform employees of personal device security requirements.
55% of Americans Have Shopped Online at a New Store
A survey by Ware2Go has found there are signals of a possible rebound in the consumer market driven by online buying. The findings indicate more than half (55%) of Americans have purchased items online from websites and retailers they have never shopped with before.
These States Have the Most Essential Businesses
A study by LendingTree has ranked states across America on the number of essential businesses in a particular state. The study found the state of Maryland is home to 113,421 (81.5%) out of 139,143 businesses that are considered as essential businesses.
Image: whitehouse.gov
This article, “In the News – PPP Flexibility Act Allows More Time to Spend Loan Money” was first published on Small Business Trends
Source: Small Business Trends
