But Harrison said she knows some people who get the funding won’t be at the level of desperation that she’s seeing among her industry or others that weren’t able to adapt to online or carryout sales. Harrison said her husband works, so her family has some financial backup. But she’s worried about her 10 full-time employees and the three dozen part-timers who she normally hires during her peak seasons. PPP helped with payroll last spring, and it could be an option again.
With the latest grant program, at least 3, 600 businesses should receive the grants, which will be awarded by 15 local economic development groups across the state. The funding will provide “working capital to support payroll, rent or mortgage or utility, ” Burton said. The state, so far, has spent $180 million in assistance to more than 18, 500 small businesses, said Burton, CEO of the MEDC. The need is extensive, he added, and that is one reason why the application window is just a few days. Small Business Survival Grants are meant to help business owners like Harrison who have fewer than 100 employees and were affected by the restrictions started Nov. 18. While some businesses – like casinos and bowling alleys – this month were allowed limited reopenings, others, such as bars and restaurants, still cannot open dining rooms. when restrictions will be lifted and whether customers will still want to host events for hundreds of people.
They tell us all if the stock industry crashes, this is a single investment that won’t move belly up. However, yellow metal is always when compared with stocks and shares, not fixed incomes just like bonds. Word-of-mouth referrals in addition to neighborhood work are able to keep Spanish-speaking builders busy, most today aim for bigger jobs. An industry-focused group is helping them make business plans and grow.
Harrison owns Affairs to Remember in Commerce Township, where her rented 10, 000-square-foot building is a hub for the weddings and other events that she and her staff set up across Metro Detroit. After 10 months of restrictions that ranged from fully closed to limited operations, the business – along with many other event-oriented operations, like dining – is limping toward spring. That may keep anxiety high even as some state businesses start to receive funding in the coming months. Stevens also notes that the program is “one size fits all” across the U. S. and there will be some businesses who won’t fit the criteria. He’s already talked to a few owners who fall just short of the 25 percent revenue decline for a second draw. said Keller, much as they did in spring 2020 when the CARES Act was passed. If they do their own bookkeeping, for example , they’re having to run their businesses while navigating forms and their documents.
All of that limits the potential for Harrison’s business, and she’s left wondering how she will be able to navigate until the weather allows outdoor gatherings. Events and in-person marketing were a $62 billion industry in the natio in 2018.
Harrison’s business went from planning weddings for hundreds of guests to customers who rent just a few tablecloths from her for small weddings. Meanwhile, the 300 or so events that had been postponed until this year are starting to be canceled or postponed again.