Category: Running a Business

State and Local COVID-19 Resources for Small Businesses

State and Local COVID-19 Resources for Small Businesses

On December 22, 2020 Congress passed the new stimulus bill which includes new Paycheck Protection Program loans and new EIDL grants along with other small business relief. Read more about that legislation and apply for a new PPP loan here. If there’s a silver lining in the coronavirus pandemic, it’s that people and organizations have quickly banded together to provide support for one another. Given how hard this is hitting small businesses, it’s great to see organizations, both at the… Read More
Employer Questions About COVID-19

Employer Questions About COVID-19

With new “stay in place” orders being executed in more cities and states every day, employers like you are, understandably, concerned about how they will continue to pay employees. And given that your employees might be twiddling their thumbs with no customers able to come to your location, are you on the hook to continue to pay them if there’s nothing for them to do? Here are the answers to some employer questions about COVID-19. While you may not have… Read More
How Coronavirus Is Impacting the Restaurant & Hospitality Industries

How Coronavirus Is Impacting the Restaurant & Hospitality Industries

Ponce’s Mexican Restaurant in San Diego was slammed last weekend, despite the massive fear of coronavirus spreading. But today, things look a little different. While restaurants in the city hadn’t yet been told they have to shut down (they have since), Ponce’s elected to shut down dine-in service and focus on takeout. Owner Ponce Mesa said it was a difficult decision, but he said, “it’s better to keep our employees safe” than to try to continue normal operations.  While the… Read More
Can I Negotiate Vendor Terms Because of Coronavirus?

Can I Negotiate Vendor Terms Because of Coronavirus?

We’re in new territory right now, with COVID-19 shutting down more and more of the country (and world). Small businesses are already feeling the impact, and at Nav, we’re getting lots of calls from concerned entrepreneurs who want the best financing options they can find to help them stay afloat, given the situation. One of those opportunities could be to negotiate vendor terms because of coronavirus. Whether or not you decide to apply for a loan or line of credit,… Read More
Should I Do Business as a Separate Business Entity?

Should I Do Business as a Separate Business Entity?

A separate business entity is a business that’s legally and financially separate from its owners. A separate business entity has a separate bank account, with separate transactions and payroll for employees. Think of it as you and your business are two completely separate individuals. Before you choose what type of business entity, let’s talk about what is required and whether or not it’s the right choice. Should You Make Your Business a Separate Entity? The short answer is, yes. Even… Read More
11 Ways Retailers Can Combat Coronavirus Fears

11 Ways Retailers Can Combat Coronavirus Fears

Rita Mitchell, Certified Counselor at the USM Small Business Development Center’s College of Business and Economic Development, compiled a great list of 11 ways retailers can combat coronavirus fears, the closures, and the financial decline those fears are causing. Here are her suggestions. Have VISIBLE and TOTAL hygiene discipline. Mitchell suggests placing anti-bacterial pumps throughout a store. Also, posting photos online and on your website of "deep cleaning" activities can show customers your commitment to keeping them healthy while shopping.… Read More