There’s nonetheless CARES Act cash accessible for companies struggling to pay their workers, however many in southwest Virginia aren’t making the most of it.
As a result of demand, many missed out on the primary spherical of the paycheck safety program, or have already spent what they acquired final yr. A second spherical, dubbed PPP2 rolled out in mid-January.
The Roanoke Regional Small Business Development Center (SBDC) director, Amanda Forester mentioned cash is obtainable, however not sufficient companies are making use of.
“We’re involved as a result of we aren’t seeing lots of people reap the benefits of it this second spherical. We all know that there are companies on the market that want it, that may use it and we’re right here to assist them try this,” Forrester mentioned.
Forrester mentioned enterprise homeowners ought to contact their banks to seek out out if they’re eligible. The funds can be found till the tip of March.
The SBDC is doing a roadshow throughout the area to assist enterprise homeowners one-on-one apply. The roadshow is scheduled for March 8-12. Extra particulars will quickly be accessible on its web site.
Forrester mentioned many enterprise homeowners are nonetheless struggling to hold on because of the pandemic. She says there isn’t any solution to monitor what number of everlasting closures have occurred, however we’ll start to see a comparative quantity as enterprise homeowners renew enterprise licenses in 2021. Forrester mentioned they’ve seen massive variety of individuals working to begin their very own enterprise.
A lot of these start-ups are collaborating within the Gauntlet business program and competition, now in its seventh yr, which has expanded to consists of extra areas within the area. This system works to assist entrepreneurs create a marketing strategy, and awards top-placing opponents with money and in-kind prizes to get their enterprise launched.
Forrester mentioned it’s essential that enterprise homeowners reap the benefits of all assets accessible to them as a way to make it by this yr.
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