What’s YOUR plan to save small business and your jobs?

originally posted by: EternalShadow
a reply to: agenda51

Of course not.

Deluding oneself?

That's a personal decision.

I have a family so giving up is not an option.

Having first hand experience being unemployed; During times like this with unemployed people being strapped with money, they will be conserving on spending on needless things no matter what. Food is prioritized first, anything left will stay in savings or checking, especially if car and house payments are deferred. I don’t know of any small business grocery stores where I live, those are all big business. Free outdoor activities without having to drive anywhere will help conserve fuel, and will be in the car and used onLy for grocery runs. The only small business I really used was for small needed items that broke around the household, and I’m not really sure that the franchise True Value is considered a small business. Anyways I’m rambling on but the small business around here are on small town Main Street and those are basically hair salons, home gaudy Knick nack decorative junk that granny uses to decorate her living room, and overpriced southern bell dress stores. There are a few small mom and pop restaurants around but I never go to them anyways in the first place.

legalise Cannabis

For the UK the Federation of Small Business is holding a webinar on Friday 20th at 11am but you have to register.

Coronavirus: Help and support for your business
Friday 20 March 11am GMT
As the impact of Coronavirus hits the UK economy, The Federation of Small Businesses will be live streaming advice, guidance and answers to your questions on Friday 20 March at 11am.

The panel:

David Perry, Managing Director of FSB Insurance Service
Marcus Gruenwald, CTOFSB Funding Platform
Hannah Thomas,Employment law expert from FSB Legal Protection Scheme
Philip King, Interim Small Business Commissioner
This panel will discuss:

Staff protection: Keeping your employees safe
Finance: Access to funding and credit
Business continuity: what you can do immediately to secure your firm
Your questions will also be answered by our panel. Tweet your questions to @FSB_Policy using the hashtag #FSBhelp.

Registration
Rainbows
Jane

a reply to: MotherMayEye

Likely? Nothing.

We didn't do it when WalMart or all of these super stores started popping up. What makes ya think we as Americans really give a damn about local businesses? Those are relics of a bygone era.


Sarcasm of course but I really feel it holds more truth than we care to realize.

My neighbor has enough chickens and ducks that he gets 8 dozen eggs a day. He drives out to the highway and sells them for $5 cash per dozen in the evenings. Sells out in 15 or 20 minutes. Haven't been eggs at the groceries for a week. And they were $5 a doz...

He says he'll stop if any cop or bureaucrat says anything.

So far, he seems to be invisible to passing squad cars

a reply to: MotherMayEye

For us, the hope is that the small business admin will make relief loans at low interest to get businesses through this hurdle. Restaurants and hotels are getting killed right now as leisure spending is minimal and business travel almost ceased to exist. Add in the collapse of the oil markets and Texas is going to start really hurting.

Employees being sent home/furloughed are being encouraged to file unemployment. The only issue with this is that it will drive up the risk assessment and increase SUTA taxes. In a few years the state will be sitting on a Bezos pile of cash that was collected through SUTA increases based on this increased risk analysis. Im hoping that there will be an adjustment of some sort to offset the risk assessment for SUTA tax based on payouts from this event. I furloughed 24 of 58 employees yesterday in this location...that is going to destroy our SUTA rate.

a reply to: LABTECH767

It's all going tits up mate never seen anything like this one. Just talked to a customer who supplies the hotelware industry up the line, said last Monday had a virtual full order book, now virtually all orders cancelled and only got a bit of fizz out work to finish once that fizzes out two weeks time he's gonna lay off his workers! This is mental, the worlds gone totally mad and we are gonna end up in one very bad economic case by the way things are looking

a reply to: EternalShadow

a reply to: ufoorbhunter

im working on trying to forecast for april/may right now. Have no idea how to approach it...this is unprecedented. I work with people that have been in this industry for 30+ years in top level positions in both the US and abroad. None of them have a clue what to expect.

We aren't closing down operations yet...but we are having to furlough staff just to have a hope of resuming operations by mid summer (our peak season).

The kinda sucky part is if operations have to be suspended...ill still be working. I know its great to get paid and all...but im sitting on a mountain of PTO that i'd love to get some use out of if business levels aren't demanding my presence.

a reply to: bigfatfurrytexan

Hi bigfatfurrytexan................ Whats a PTO?

What’s YOUR plan to save small business and your jobs?

We just closed the doors and let all our people go in the retail operation; we can't last a month without customers our rent and expenses are just to overwhelming. I don't expect to get any financial relief from this government. The big corps may get bailed out but I doubt if we will see a dime.

I'll just sell the remaining inventory on ebay, garage sales, and flea mkts, when they open up again.

I still have my union gigs and will rely on them to make a living.

a reply to: olaru12

Holy smoke mate feel for ya.................... Just can't believe how things have turned from a month ago

originally posted by: ufoorbhunter
a reply to: bigfatfurrytexan

Hi bigfatfurrytexan................ Whats a PTO?

Paid time Off...

but I as as the owner/ proprietor of a retail store don't receive any of that. I don't expect to gear back up. It was sad to layoff people that have worked with me for years. This was an earth changing event and the US economy hasn't felt the full brunt of what's about to happen.

The mkt. may recover, but the damage has already been done as far as small biz is concerned. And most people don't have enough saving to last them even a month. Strange days are acomin. Glad I don't have kids.

a reply to: olaru12

Cheers for the explanation olaru12 and deepest sympathies and prayers for you, this thing is unbelievable and things like your example are changed so incredibly fast. I'm in manufacturing and was thinking of some new machinery around Christmas time, now I got jack to do and thinking of closing up, everyone here is struggling and the economy was pretty much fake anyway since most of our factories went to China, now the chickens are coming home to roost. Hope you are ok over there, at least you Yanks have loads of land as a last resource unlike here where we are crammed in like sardines

a reply to: ufoorbhunter

Thanks for the good thoughts amigo. One thing good about being a recovering drunk..."it's just one day at a time."

I do feel terrible for my people and their families, that helped me thru our 15 years in business.

a reply to: MotherMayEye

I'm going to my favorite local pizza place where normally I dine in but they're only doing takeout for the next few weeks and I'm having him make me a few pizzas. I asked for them uncut and not cooked all the way so I can finish them on my pizza stone.

If this guy goes under I'll be even more homicidal than usual so I'm doing my part.

Having access to all those offshore accounts, especially the ones opened up as a result of the privatisation of nationalised industries. That will pay for every citizen to live a comfortable life during these tough times. Whether we will be able to find toilet paper anywhere. Well, that’s a whole new thread.

a reply to: olaru12

I am so sorry to read this. I bet we won't be hearing from people like you, in the media, until the stimulus funds have run out and the temporary bounce is gone.

That's when small business will be allowed/trying to reopen...and none of the stimulus money will have benefitted small businesses at all.

Small business loans won't do anything to help recovery. Most small businesses were just getting by before the crisis, they don't need another loan payment. Maybe if this ends in early April, a few could survive but very, very few have enough cash reserves to pay rent and payroll for two months.

That $1,000 is going to do nothing. It will go to Walmart then China.

If you really want to try to save the economy, then everyone (that includes you billionaires and big businesses) will have to share in the loss.

The economy lost about 25%. Payout the losses to business and employees (big and small). Then spread that loss at 2.5% per year over 10 years. (I know it won't work exactly like that but you get the general gist).

Right now service industries are being hit in order to save the general population, so it makes sense the general population should all share equally.