now let's get inFormation
COVID-19 is here and it has us wondering about the future of our business. As I sit at home listening to Beyoncé, I realize that being an entrepreneur has taught me patience, creativity, and most of all resilience. My online sales are struggling right now, but I'm not going to stress it. This too… shall pass. In the interim, I plan to EVOLVE and you should too.
During this time of “social distancing,” focus on how to shift your business model to better serve your audience. This is a great time to brainstorm ways to innovate your current product offerings or introduce new products to the marketplace. This is our biggest test as entrepreneurs -- our ability to grow and change after COVID-19. How will you pivot your business to position yourself for success post-COVID-19? What are some key areas of growth for you? How can you improve your business? Take a few classes or learn a new skill set. The possibilities are endless.
Lastly, and most importantly, take care of YOU. You are your biggest asset. The Centers for Disease Control and Prevention provides best practices to help prevent the spread of COVID-19. Stay safe and informed.
It’s okay to be uncomfortable with where you are right now but know that this is just temporary. Shift your focus on moving past COVID-19 and leverage this time to have a positive impact on both you and your business.
COVID-19 Resources for Female Entrepreneurs
I’ve compiled a list of a few small business resources for COVID-19 that provide information on topics ranging from health and safety to small business relief and free training courses.
Safety and Health
- CDC: Disinfecting your home
- Healthline: How to clean your phone and devices
- SAMHSA: Tips for social distancing
Small Business Resources for COVID-19
- SBA: Small Business Guide and Loan Resources
- Gartner: Adapting your Marketing Strategy During COVID-19
- Dept. of Labor: Unemployment Insurance and COVID-19
Small Business Grants
- Facebook $100 million grant for small businesses impacted by COVID-19. Applications will be opening in the coming weeks. Sign up for updates and more information.
- Amazon announced a $5 million Neighborhood Small Business Relief Fund to provide cash grants to local Seattle small businesses. For details and to apply for assistance, visit blog.aboutamazon.com.
- TechTown Detroit has launched the Detroit Small Business Stabilization Fund to provide working capital grants up to $5,000 to qualifying Detroit area small businesses.
- San Francisco COVID-19 Small Business Resiliency Fund is providing emergency funding of up to $10,000 to businesses with between one and five employees to cover rent and salaries.
- Denver Small Business Emergency Relief fund offers cash grants up to $7,500 to businesses in industries hit hard by the coronavirus. Funding is available to businesses that have lost the ability to operate including restaurants, retail shops, barbershops, and nail salons. Find additional info and submit interest here.
- Michigan Small Business Relief Program is providing both grants and loans to small businesses affected by COVID-19. Grants will be available in amounts up to $10,000 to help working capital. Visit the Michigan Economic Development Corporation for updates.
- New York City Employee Retention Grant Program is offering grants up to $27,000 to small businesses with one to four employees. Visit New York City's COVID-19 Resource Page for Small Businesses for more information.
Small Business Funding
- JP Morgan has pledged $50 million in aid to small businesses and nonprofits faced with economic challenges stemming from COVID-19.
- Chicago Mayor, Lori Lightfoot, announced a $100 million Chicago Small Business Resiliency Fund that will provide low-interest loans to the city’s struggling small businesses. The fund will provide low-interest funding up to $50,000 to employers affected by the COVID-19 pandemic. Business owners and entrepreneurs impacted by COVID-19 closures can get more info and submit interest here.
- Los Angeles City Small Business Emergency MicroLoan Program is offering emergency microloans ranging from $5,000 to $20,000 to L.A. businesses.
- New York City Small Business Continuity Fund is offering up to $75,000 in interest-free loans from the city to cover revenue losses. Learn more information about funding and submit interest here.
- SBA: 10 Steps to Start Your Business
- Lynda Library: Visit your local public library website to gain access to a library to a collection of more than 3,000 courses and 150,000 award-winning video tutorials taught by industry experts.
- HubSpot Academy: Grow Your Career and Business
- Facebook Business: How to Connect with Customers on Instagram
- Food Assistance: Meal waivers and Supplemental Nutrition Assistance Program
- State Legislature: Find info on state-based initiatives in your state
- The Healthwell Foundation: COVID-19 funds and grants
- Military: Emergency assistance for service members and their families affected by COVID-19
- NAMI: Anxiety and COVID-19
- CDC: Reducing stress and anxiety
- Suicide Prevention: Emotional Well-being
- Mental Health America: Exercises to help you stay grounded
- Crisis America: Free text-based support
We gon’ slay, slay.
Ladies, we can do this. Let's stay focused, informed, and empowered during this quarantine period.