Small businesses are the backbone of our communities and our economy. Employing nearly half the American workforce, they keep our neighborhoods running and make them feel like home. The COVID-19 pandemic has hit small businesses particularly hard with many struggling to survive. The US Chamber of Commerce launched the Save Small Business Initiative, a nationwide program to address small businesses’ immediate needs, mitigate closures and job losses, and mobilize support for long-term recovery. The initiative is divided into four pillars
- Supplemental financial assistance- The U.S. Chamber of Commerce Foundation is launching the Save Small Business Fund Funded by contributions from corporate and philanthropic partners, the Foundation will provide $5,000 supplemental grants to small employers in economically vulnerable communities. The Foundation is launching the grant fund in partnership with Vistaprint and with support from Merck, S&P Global Foundation, and Travelers. Applications will begin on April 20th, 2020 at 3PM est. Eligible businesses must:
- Employ between 3-20 people
- Be located in an economically vulnerable community
- Been financially harmed by COVID-19
- Advocacy: Under the campaign, the U.S. Chamber of Commerce will continue to fight for legislation, executive actions, and other government efforts to help small businesses devastated by the pandemic and economic downturn– ensuring that financial aid and support programs are not only available but also accessible. The Chamber played a central role in shaping and securing passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, including the law’s unprecedented small business emergency loan programs and other measures.
- Resources, Webinars, and Guides: Under the Save Small Business Campaign, the Chamber is accelerating and expanding its efforts to deliver the guidance and expertise small businesses need to survive the crisis and recover following the pandemic. Hosted on CO, the Chamber’s digital platform for small businesses, the Coronavirus Small Business Resources Hub features the latest step-by-step guides, infographics, advice, and resources to help small business owners access financial relief and navigate disruption. Also, the Chamber is partnering with its network of more than 1,500 associations and local and state chambers of commerce across America to offer small business webinars and virtual Q&A sessions. Similarly, the Chamber is partnering with larger companies nationwide to offer webinars to those corporations’ small business suppliers and customers.
- Research: As part of the campaign, the Chamber and its longstanding Small Business Index partner MetLife have transformed their quarterly survey into a new Small Business Coronavirus Impact Poll . The online survey of 500 small business owners provides insights on the pace of recovery; which small businesses need the most support; and what type of relief is needed. Expect to see that next poll in early May.
We encourage you to use all recourses available not just from the US Chamber but from your local chamber of commerce as well as any industry trade groups that would encompass your business.