Small business owners always have a lot on their plates as they manage the day-to-day operations of their company including sales, customer retention, marketing, culture initiatives, and growth strategies. Now, imagine the burden of all of that coupled with the unimaginable stress brought on by COVID19's implications.
How Froehling Anderson Partners with Small Business
Taking the time to properly research everything as it relates to COVID19's effect on small businesses can be hard to come by for small businesses trying to stay afloat. A single Google search for "small business resources for COVID19" delivers nearly 2 billion results; the sheer amount of content available to sift through is daunting.
That's where our team comes in; we take the pressure off our clients and their business priorities by sharing the top eight resources with the most pertinent, current information below.
COVID19 Resources for Businesses
IRS Coronavirus Tax Relief
The IRS offers the latest updates on COVID19 tax relief, and breaks down information on tax help for taxpayers, businesses, tax-exempt organizations, and others — including health plans — affected by the pandemic. The site offers specific information for individuals and families, businesses, and health and retirement plans.
IRS Deadline FAQs
A quick, easy-to-scan list of frequently asked questions relating to taxes including filing, payment, and deadlines. The most current FAQ list acts as a flexible tool to communicate information to taxpayers and tax professionals alike.
MN DEED Small Business Loan Program
Specific to Minnesota, the state's Department of Employment and Economic Development (DEED) announced a temporary program established in response to the impact of COVID19 to provide options for financing help. The page lists parameters for eligibility and timeframe for support.
MN Unemployment Insurance Information for Employers
Pertains to unemployment benefits for workers, and self-employed and independent contractors alike. It lists eligibility requirements, tax information, how to avoid fraud and how to apply. It's a clear-cut, useful resource to share within your business as you navigate staffing concerns.
Stay Safe MN
The most current news and information from the office of Governor Tim Walz. The current Stay Safe MN order shares restrictions, best practices, FAQs, and other resources helpful to businesses including unemployment insurance, business loans, workplace exemptions, and essential employers.
Government Response to Coronavirus
A culmination from the U.S. government sharing its own list of most crucial and sought after resources for businesses and individuals alike. The page includes guidelines for reopening America as well as links to the White House Coronavirus Task Force findings.
SBA Economic Injury Disaster Loans Application
The U.S. Small Business Administration created a streamlined process for businesses affected by the pandemic to apply for economic injury disaster loans. It applies to businesses, private non-profits, homeowners, and renters. It tailors the application to applicants' entity — like employee size, type of industry, and type of company structure.
U.S. Treasury Department CARES Act
The U.S. Department of the Treasury breaks down the CARES Act and how it applies to all Americans. It too offers tailored content for workers and families as well as assistance for small businesses; plus assistance for state, local, and tribal governments and job preservation for the American industry.
The current economic climate in our state and country is troubling, to say the least. Small business owners and companies are faced with immeasurable stress as they navigate through decisions and priority. Working alongside a consultant for your business, like our team at Froehling Anderson, is a partnership that can mean reprieve from stress and solitary decisions. We're here for you.
