PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Advocate for Entrepreneurs and Small Businesses Supports COVID-19 Relief Package

By at 21 December, 2020, 8:44 pm

NEWS

For Immediate Release

Washington, D.C. – The nation’s leading advocate for entrepreneurs and small businesses praised negotiators for their work on a COVID-19 relief package that meets the need of struggling small businesses. Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan said various measures will help small businesses and many local economies better weather the tough months ahead. While financial support and relief was needed months ago, Kerrigan said the relief package combined with tax provisions in the spending bill will end 2020 on a more cheerful note and hopefully set the stage for more action in 2021.

“Small business owners and entrepreneurs desperately need capital and certainty right now, and the funding provisions in the relief package will help many of them tap into a pool of capital that will help to maintain jobs and bolster local economies. We are grateful that PPP will resume with needed changes to provide small businesses with flexibility and support, additional capital for businesses that need it, and remove some of the uncertainties around PPP like deductibility of forgiven expenses. The same can be said for the EIDL program.

“One of the keys to effective implementation will be for the SBA to move with relative speed, and to keep processes, paperwork and guidance simple. The rules cannot change once issued, and sufficient outreach is necessary to ensure small business owners are aware of changes or new programs.

“When the 117th Congress resumes in early January, it is critical that entrepreneurship and small business remain at the top of the agenda. Millions of small businesses have closed or are closing, which means a massive jobs dearth across the country.  Local economies are suffering. The good news is that millions of Americans are starting new businesses, and our economy needs these startups to be successful. These new businesses need a policy ecosystem that enables their growth and success, and we look forward to working with Members of Congress on innovative policy solutions that will revitalize Main Street businesses, and help new entrepreneurs succeed.”

CONTACT: Karen Kerrigan, kkerrigan@sbecouncil.org

SBE Council is nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 25 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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