smallbusinessroundtable

Empowering America’s Small Business Growth

Wed, 10 Sep 2025 02:32:52 GMT

Small Business Roundtable Launches Report Highlighting Digital Adoption and Barriers Across Small Businesses.

WASHINGTON, D.C. – September 10, 2025 – The Small Business Roundtable (SBR), a coalition of leading small business and entrepreneurship organizations representing more than 30 million small businesses, today announced the release of its latest research report, Empowering Small Businesses in the Digital Age: Adoption Trends, Challenges, and Policy Recommendations . The report is being launched at the Empowering America’s Small Business Growth event, hosted in partnership with Semafor, featuring remarks from Senator Ed Markey (D-MA), Congressman Kevin Hern (R-OK), and leaders from across the small business community.

Drawing on new data, case studies, and policy analysis, the report highlights how digital tools are transforming the small business landscape. It finds that 99% of small businesses use at least one digital platform, from e-commerce marketplaces to cloud-based software and digital payments, helping owners grow revenue, create jobs, and strengthen customer engagement. At the same time, the report shows that persistent barriers remain, including broadband access gaps, limited digital skills, financial constraints, regulatory requirements, and cybersecurity concerns.

“This report provides valuable insights into how small businesses are adapting to the digital marketplace,” says John Stanford, Co-Executive Director of Small Business Roundtable. “By understanding the habits and needs of online sellers, we can better support their growth and ensure they have the tools necessary to thrive in an increasingly digital economy.”

Highlights from the research include :

99% of small businesses use at least one digital platform, with social media, digital payments, and accounting software among the most common.
Underserved entrepreneurs, including veteran-, women-, and minority-owned firms, are often leading in digital adoption, using technology to overcome barriers and expand their reach.
Rural firms and microbusinesses with fewer than 10 employees face disproportionate challenges around cost, skills, and access to high-speed broadband.
Emerging technologies such as artificial intelligence, augmented reality, and the Internet of Things are becoming more accessible and poised to unlock new opportunities for small businesses to innovate and compete.

The report also outlines a set of policy recommendations to expand broadband infrastructure and affordability, invest in digital skills training, provide financial incentives such as tax credits and grants, and foster public-private partnerships to ensure all small businesses—especially those in underserved communities—can benefit from digital transformation.

For more information on Empowering Small Businesses in the Digital Age , please contact shannon@smallbusinessroundtable.org .

Small Business Roundtable on the Confirmation of William Briggs as SBA Deputy Administrator

Thu, 10 Jul 2025 15:26:42 GMT

The Small Business Roundtable (SBR) congratulates William Briggs on his confirmation by the U.S. Senate to serve as Deputy Administrator of the Small Business Administration (SBA). SBR had the opportunity to work with Deputy Administrator Briggs during his previous tenure at the SBA, including during the COVID-19 pandemic, when swift and coordinated action was critical to delivering relief and resources to millions of small businesses across the country. We look forward to working with Deputy Administrator Briggs once again to elevate the voice of small businesses, foster innovation, and support a resilient and prosperous small business economy.

Main Street to Marketplace: How Small Businesses Are Selling Online

Wed, 19 Feb 2025 14:57:48 GMT

Pivotal Role of Online Selling Highlighted in Small Business Roundtable Report

WASHINGTON, D.C. – The Small Business Roundtable (SBR), a coalition of leading small business and entrepreneurship organizations representing more than 30 million small businesses, today announced the release of its latest research report, Main Street to Marketplace: How Small Businesses Are Selling Online . This report, conducted in collaboration with Morning Consult, provides revelatory insights into the evolving landscape of e-commerce for small and medium-sized enterprises (SMEs).

Drawing from survey data of over 580 small business leaders who sell online, the report offers a comprehensive analysis of key trends shaping the small business landscape. It highlights how online marketplaces influence business operations, creating both new opportunities and challenges, while also examining how SMEs are leveraging digital platforms to expand their reach, respond to evolving consumer behavior, and navigate an increasingly complex small business environment.

Key findings from the report include:

Inflation remains the biggest challenge for small business owners, prompting them to explore new tools and services to manage costs.
Online advertising, customer acquisition, and brand building are major hurdles for small business owners entering the digital marketplace.
Facebook Marketplace, Amazon, eBay, and Shopify are the most popular platforms for online sellers, with each offering distinct advantages.
Seasonal shopping events such as Black Friday and the holiday season drive significant revenue for small online businesses.

Main Street to Marketplace marks the first release from SBR’s newly-formed E-Commerce Council, an initiative dedicated to amplifying the voices of online entrepreneurs and shaping policies that foster a fair and thriving digital marketplace.

For more information on the Main Street to Marketplace report or to download a copy, please visit https://ecommerce.smallbusinessroundtable.org/main-street-to-marketplace or contact shannon@smallbusinessroundtable.org.

New Survey Data Highlights What Every Shopper Knows: E-Commerce Playing Bigger Role, Especially for Small Businesses

Mon, 06 Jan 2025 23:22:25 GMT

A recent TechNet-Ipsos survey looked at the role e-commerce marketplaces (think Amazon, Walmart online, Etsy, etc.) play in the small business economy. In short: these marketplaces are becoming more and more meaningful for engaging customers, in a large part by addressing competitive disadvantages small business owners face.

From expanding customer reach to reducing operational costs, the survey underscores how these platforms are empowering small retailers to thrive in a competitive and evolving digital economy. As small businesses increasingly adopt multi-channel strategies, e-commerce has emerged as a cornerstone of their success.

Survey Highlights: The Digital Advantage

For many small businesses, finding and connecting with customers is a constant uphill battle. Traditional methods, such as relying on foot traffic or expensive advertising campaigns, often fall short. Yet, 92% of respondents noted that e-commerce marketplaces make it significantly easier to reach potential customers, while 88% emphasized the ability to expand into international markets. These platforms effectively eliminate geographic constraints, allowing small businesses to tap into global audiences without requiring hefty marketing budgets.

Running a small business also requires significant effort towards the management of financial demands, which E-commerce marketplaces tend to ease the burden of. According to the survey, 85% of small business owners reported that operating on the listed E-commerce platforms helped reduce overall expenses. Additionally, 82% highlighted the transparency of costs on e-commerce platforms compared to traditional sales channels. This clarity gives business owners the confidence to plan, invest, and grow without uncertainty and hidden fees eating into their margins.

Perhaps most importantly, e-commerce platforms give small businesses the tools needed to stay creative and adaptable. From analytics that uncover customer trends to AI-powered systems that streamline daily tasks, these marketplaces are more than just places to sell—they're partners in helping businesses grow and thrive. It’s no surprise that 90% of small business owners highlighted the value of these tools in launching new products and running effective ad campaigns.

Small businesses are thriving thanks to e-commerce marketplaces, which open doors to wider audiences and provide powerful resources for scaling and success. According to the TechNet-Ipsos survey, platforms like Amazon, eBay, and Etsy are leading the charge, helping small retailers unlock new opportunities. By addressing key barriers for small businesses, e-commerce marketplaces are leveling the playing field for those hoping to navigate an ever-changing retail landscape.

E-Commerce and Brick-and-Mortar: A Symbiotic Relationship

You CAN have both. Contrary to the narrative that e-commerce threatens traditional retail, the survey reveals a mutually beneficial relationship. Nearly 80% of respondents said their success in e-commerce has created opportunities to feature their products in physical stores.

Additionally, small businesses with both e-commerce and in-store presence often see complementary growth. Customers who discover products online may visit physical stores to make purchases (looking at you, last-minute holiday shoppers), while in-store shoppers who can’t find exactly what they need often turn to the retailer’s e-commerce site to complete their transaction, allowing digital and physical retail to reinforce each other.

Conclusion: E-Commerce as a Growth Engine for Small Businesses

E-commerce marketplaces have proven to be indispensable for small businesses, offering cost-effective solutions to grow, streamline operations, and connect with customers. These platforms are far more than sales channels—they are engines of growth and innovation fueling the Main Street stores we know and love.

For policymakers and stakeholders, it is key to recognize the synergy that exists between E-commerce and small business. Efforts to regulate or constrain leading e-commerce platforms could inadvertently harm the small business community, restricting innovation, alongside access to the tools that empower small retailers to remain competitive and thrive. E-commerce is not just a lifeline—it is the foundation for the future of small business success.

Small Business Roundtable Reflects on Successful Entrepreneurship Exchange 2024 in Toronto, Canada

Wed, 09 Oct 2024 17:06:22 GMT

Small Business Roundtable hosted its third annual Entrepreneurship Exchange 2024 (EX 24) in Toronto, Canada on Wednesday, September 4 and Thursday, September 5, 2024. This year’s event featured a welcome dinner; a half-day event consisting of panels, fireside chats, and keynote addresses; a roundtable with North America policy experts; and a closing reception with a focus on three main themes:

Navigating the New Normal: The Shifting Political and Economic Landscape and Their Implications for Business in North America;
The Innovation Trifecta: Where AI, E-Commerce, and Policy Collide for Small Business Growth in North America; and
Securing Our Future: What’s Happening in North American Energy and How Policy Can Help

Anita Anand, President of the Treasury Board, Government of Canada, Member of Parliament
Michael Negron, Special Assistant To The President for Economic Policy, The White House
Porfirio Thierry Muñoz-Ledo Chevannier, Consul General of Mexico in Toronto
Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service, U.S. Department of Commerce
Francesco Sorbara, Member of Parliament for Vaughan-Woodbridge, Vice Chair, Canada-United States Inter-Parliamentary Group
Sean Moore, Staff Director, U.S. Senate Committee on Small Business and Entrepreneurship
Joanne Pitkin, Senior Manager, Public Policy, Amazon
Michele Schimpp, National Ombudsman and Assistant Administrator of Regulatory Enforcement Fairness, U.S. Small Business Administration
Karim Bardeesy, Executive Director, The Dais
Todd McCracken, President & CEO, National Small Business Association
Ramiro A. Cavazos, President & CEO, U.S. Hispanic Chamber of Commerce
Jen Earle, CEO, National Association of Women Business Owners
Karen Kerrigan, President & CEO, Small Business & Entrepreneurship Council
Corinne Goble, CEO, Association of Women’s Business Centers
Bill Kitay, Executive Director, AmCham Canada
Diego Marroquin, Scholar for North America, Canada-Mexico Institute, Wilson Center
Nancy Wilson, Founder & CEO, Canadian Women’s Chamber of Commerce
John Stanford, Co-Executive Director, Small Business Roundtable
Rhett Buttle, Co-Executive Director, Small Business Roundtable

Key insights included:

North America stands as a powerhouse in the global economy regardless of election outcomes. Its vast geographical area, diverse industries, and highly skilled workforce contribute significantly to global GDP. Amid federal elections in the U.S., Canada, and Mexico, regional cooperation and trade facilitated by agreements like USMCA will continue to be essential to fostering economic growth.

Small and medium-sized enterprises (SMEs) are the backbone of the North American economy. SMEs account for $7 trillion in GDP, approximately 50 percent of the workforce, and 40 million small business owners. Supporting SMEs is essential to maintaining a vibrant North American economy.

The United States-Mexico-Canada Agreement (USMCA) has created new opportunities for SMEs in North America. By eliminating or reducing tariffs on goods traded between the three countries, the USMCA has lowered barriers to entry for smaller businesses. However, successful implementation of the agreement requires SMEs to be aware of the opportunities and rules it presents. Addressing trade disputes and ensuring compliance and fair competition are crucial to maximizing the benefits of the USMCA.

The digital age has transformed the way businesses operate, and SMEs are no exception. Embracing digital tools and e-commerce platforms can help small businesses expand their market reach, improve efficiency, enhance customer engagement, and reduce inequalities. Policymakers and the private sector should provide additional resources and training programs for SMEs to digitize.

There is an urgent need for businesses to adopt sustainable practices, which can also serve as a market differentiator in an increasingly eco-conscious consumer landscape. By adopting sustainable practices, SMEs can reduce their environmental footprint, improve their brand reputation, and attract eco-conscious customers. Moreover, sustainability initiatives can often lead to cost savings and increased efficiency.

Supporting women and diverse-owned businesses through education, resources, and networking is essential for fostering inclusivity in trade and economic development. By providing women and diverse entrepreneurs with education, resources, and networking opportunities, we can help them overcome barriers and achieve their full potential. Empowering women and diverse entrepreneurs not only strengthens the economy but also contributes to social progress and equality.

Reshoring supply chains is key to North America’s success and sustainability. The COVID-19 pandemic exposed the importance of resilient supply chains. To mitigate risks associated with geopolitical tensions, disruptions, and other unforeseen events, North American countries are increasingly turning to nearshoring and diversification.

Startups are a driving force behind economic innovation and long-term growth. Unfortunately they have seen a steady decline in activity over the past four decades. The gap in support mechanisms for these early-stage companies hinders their ability to scale and contribute fully to economic development. Addressing this requires the implementation of targeted policies that focus on bolstering resources, visibility, and access to opportunities for startups.

Strengthening collaboration between the U.S., Canada, and Mexico is increasingly critical for the success of SMEs in North America. Harmonizing regulatory frameworks across borders will facilitate smoother operations and reduce barriers for small businesses operating in multiple countries. In addition, improving the mobility of skilled labor across borders is essential to addressing talent shortages and fostering innovation.

Access to capital remains a significant challenge for SMEs, particularly for those led by marginalized and underrepresented entrepreneurs. Historical barriers, such as limited credit access and financial inertia, continue to make it difficult for small businesses to secure the funding they need to grow. Engaging with industrial policy is crucial to ensure that long-term investments are directed toward inclusive and equitable growth. There is also a need for industrial policies that actively promote SME participation in new market opportunities, ensuring that these businesses are not left behind in broader economic initiatives.

EX 24 concluded with a walking tour of Toronto’s historic Distillery District and a reception where attendees had the opportunity to exchange ideas, share best practices, and build lasting relationships with their fellow attendees.

Small Business Roundtable would like to thank EX 24’s sponsors, North America partners, and speakers for participating in EX 24 and looks forward to working together in the future to continue creating strong policies that ensure the economic vibrancy of North America.

Small Business Roundtable is proud to announce that we will bring Entrepreneurship Exchange 2025 to Mexico City next year and continue these impactful discussions and collaborations as we prepare for the renegotiation of the U.S., Mexico, Canada Agreement (USMCA), new political leadership in all three countries, the G7 in Canada, and the celebration of the FIFA World Cup across North America. Stay tuned for more information on this and other Small Business R oundtable events.

SBR Submits Comments on SBA’s Proposed Rule Reforming Criminal Record Eligibility Requirements for Loan Programs

Mon, 20 Nov 2023 14:57:57 GMT

Last week, the Small Business Roundtable (SBR) joined with a number of its members in submitting comments in support of the Small Business Administration’s (SBA) proposed rule breaking down barriers for entrepreneurs with prior justice involvement. You can read the full comment here .

Under current regulations, individuals seeking access to various SBA loan programs may be deemed ineligible for loans if they are on parole, on probation, or otherwise have a criminal history record. Research has shown there is little to no correlation between a qualified borrower’s criminal record and their ability to repay borrowed funds. Additionally, the SBA has found that preventing justice-impacted individuals from accessing loan programs could increase the rate of recidivism among returning citizens while denying them an important channel to economic stability.

While the proposed rule represents a critical step towards expanding access to capital for entrepreneurs with prior justice involvement, SBR will work with the Administration and Congress to address more opportunities to ensure participating lenders follow the SBA’s lead.

SBR Small Business Expo Brings Online Sellers to Washington to Highlight Their Importance before the Holidays

Mon, 13 Nov 2023 20:18:24 GMT

A Hands-On Look at (Some) Modern Entrepreneurs

Tue, 26 Sep 2023 21:48:07 GMT

Throughout the pandemic, Small Business Roundtable (SBR) chronicled the need for small business owners to take their business online. In fact, embracing e-commerce was one of the many ways entrepreneurs survived one of the most challenging business environments in decades. From iconic restaurants utilizing delivery services to retailers offering goods on overnight-made websites or online marketplaces, small businesses leaned into online sales and digital tools to survive, and in many cases, flourish.

Since the country has re-opened, I’ve been fortunate to reconnect with small business owners around the nation and hear their journeys. For many, leveraging technology has been a common response to “what’s different” about your company now. Small businesses are increasingly embracing the role of e-commerce, which is contributing to strong economic growth in this sector during the first years of the Biden Administration. In fact, the Biden Administration just recently announced more than 10 million new business starts – many of which rely on e-commerce to gain customers or digital tools to run their business. The breaking of the digital divide is finally paying the entrepreneurship dividends many of us hoped for.

Earlier this month, I had the opportunity to explore one of the largest e-commerce platforms when I was in Seattle for the Amazon Accelerate 2023 conference. During the conference I prioritized spending time with some of the sellers attending the conference. Small business owners’ stories are one of the great benefits of my job, and these stories did not disappoint.

There was the wreath maker, the lice-fighter, and of course, a celebrity seller (whose own story on the need for accessible products for diverse communities resonated with the audience)! Their stories had a common theme: selling online has transformed their lives. It put their product in front of an unimaginable number of customers. It’s not easy, and it isn’t overnight, but with the right combination of customer engagement and reputation management, they succeed. And for some, the success has been transformative – the very wealth creation we all work toward as small business advocates.

Speaking of other advocates, I was joined by other national organization leaders and we were fortunate to get a behind-the-scenes look at the fulfillment centers that enable Amazon’s almost unthinkable delivery capabilities. What stood out the most? The sheer audacity of promising fast delivery up closer and personal. This facility houses some 21 million products, 3 million of which would move out every week. I hope to do another write up in detail soon.

The conference itself – which hosted some 3,000 business owners and employees -- centered on new products designed to help sellers. Of particular interest was learning that Amazon is heavily dependent on the success of its small businesses: more than 60% of sales come from independent sellers, most of which are small or medium sized businesses.

Most of the changes centered around expanding logistics capabilities available to sellers. The Fulfillment by Amazon (“FBA” to the locals) will soon be complemented by Supply Chain by Amazon (“SCBA?”) which offers an end-to-end solution. It was clear that to keep sellers engaged on this marketplace – which isn’t the only one – one theme came through—these tools encourage small businesses to focus on their core competencies like innovating for consumers, building their brands, and developing a strong customer base.

I was surprised, however, to learn that many of these benefits were being offered even to those selling off Amazon. These “omnichannel” solutions – meaning they can be leveraged for direct sales or in other marketplaces including brick and mortar stores like Walmart – are a response to interest in sellers using Amazon’s logistics to enable all their business across multiple sales channels.

Over the past decade, I have heard almost every imaginable barrier or obstacle facing small business owners. Most want to focus on innovating, creating and selling. It seems they have found a match in a surprising place: one of America’s largest companies, Amazon. I look forward to continuing to hear how the sellers I met continue to face challenges and competition.

What is clear, though, is the fast-forwarded adoption of e-commerce is now integral to a growing part of the small business community.

John Stanford is the Co-Executive Director of Small Business Roundtable.

Small Business Roundtable at 2023 Accelerate Conference

Tue, 19 Sep 2023 23:23:20 GMT

Implications for the 118th Congress and How Small Business Owners Can Make Their Voices Heard

elliott@publicprivatestrategies.com (Elliott Long) — Fri, 06 Jan 2023 16:16:53 GMT

Now that the midterm elections are over and the 118th Congress is set to begin, it is worth considering the implications for small business and how entrepreneurs can engage.

Democrats achieved a true Senate majority with key victories in the Georgia Senate runoff for incumbent Raphael Warnock. Meanwhile, Republicans took the majority by a razor thin four seats in the House.

With a split Congress, partisan legislation will face challenges in the months ahead. House Republicans have already signaled an increase in Congressional oversight and investigations. While Senate Democrats will continue to work on passing legislation like they did in the 117th Congress, they will face challenges in passing legislation through a Republican-controlled House. Senate Democrats will also prioritize confirming Administration and judicial nominees with a 51-seat majority now.

While partisan legislation will face an uphill battle to advance over the next two years, small business priorities could be a unique area for bipartisanship in the 118th Congress. Both Democrats and Republicans have expressed broad interest in regulating technology platforms. Others include alleviating worker shortages through training programs, expanding access to government contracting for underserved small businesses, mitigating the impact of inflation, and helping small businesses go digital.

Below are five ways small business owners can make their voices heard on these and other issues important to them in the 118th Congress.

Get in touch with your representatives.

You can engage your representatives through an in-person meeting, phone call, snail mail or e-mail. Visit www.senate.gov/senators/ and https://www.house.gov/representatives/find-your-representative to find out who represents you.

2. Participate in a Small Business Roundtable member’s conference or fly-in.

Small Business Roundtable’s members frequently have conferences around the country and fly-ins to the nation's capital to bring entrepreneurs together and make their voices heard. These events are a great way to amplify small businesses’ power and affect change.

3. Attend an in-person or virtual event.

Small Business Roundtable and its members regularly host in-person and virtual events on pertinent topics. Be sure to subscribe to their newsletters and keep an eye out for these events on their websites.

4. Write an op-ed or letter to the editor.

Op-eds and letters to the editor are another way to make your voice heard. Check out your local media outlets to learn how to submit one of these on the issues you care about.

5. Leverage social media in your engagement.

Social media is a quick, low-resource way to engage your representatives. Be sure to think about which platforms make the most sense for your engagement and post regularly to enhance your impact.

America’s Largest Coalition of National Small Business Organizations, Small Business Roundtable, Releases Statement in Response to Senate Passage of SBIR/STTR Reauthorization

ashlyn@smallbusinessroundtable.org (Ashlyn Roberts) — Thu, 22 Sep 2022 03:02:41 GMT

IMMEDIATE RELEASE CONTACT

9/21/2022 Ashlyn Roberts ashlyn@smallbusinessroundtable.org

Washington, D.C. - The SBIR & STTR Reauthorization Act of 2022 , which reauthorizes the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, unanimously passed the U.S. Senate by unanimous vote on September 21, 2022. If passed in the House of Representatives, who is expected to take up the Senate’s bill on September 28, 2022, the legislation will fund these programs for an additional three years. View the full Senate bill text here and a section by section of its components here .

Rhett Buttle & John Stanford, Co-Executive Directors of Small Business Roundtable Issued the Following Statement:

“On behalf of Small Business Roundtable (SBR), we applaud the U.S. Senate for the recent reauthorization of Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs and thank Senators Ben Cardin and Joni Ernst for their leadership. Timely reauthorization of these programs is a victory for all American small businesses across the nation - these programs encourage engagement with the Federal government, boost research and development, and incentivize early stage efforts towards commercialization.

The SBIR and STTR programs uphold investment that many small businesses depend on and this reauthorization enables sustained innovation in technology development for another three years. Over the past 40 years, the programs have provided nearly 200,000 awards totaling more than $63.8 billion to U.S. small businesses. These programs have already changed lives, catalyzed local economies, and optimized industries. Reauthorization, paired with the enhanced technology safeguards, promises to build on the previous success of this program and create new opportunities for even greater American innovation for years to come. We are pleased with the Senate’s swift efforts and call for passage in the House of Representatives.”

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The Small Business Roundtable ( http://www.smallbusinessroundtable.org/ ) is a coalition of leading small business and entrepreneurship organizations, dedicated to advancing policy, securing access, and promoting inclusion to benefit the businesses at the heart of the American economy.

Leading US Coalition of Entrepreneurship Organizations Congratulates Liz Truss on Becoming the UK’s 56th Prime Minister

ashlyn@smallbusinessroundtable.org (Ashlyn Roberts) — Fri, 16 Sep 2022 15:47:58 GMT

FOR IMMEDIATE RELEASE

9/7/2022

CONTACT

Ashlyn Roberts, ashlyn@smallbusinessroundtable.org

WASHINGTON, D.C. - The Small Business Roundtable ( SBR ) , the leading coalition of entrepreneurship organizations in the United States, congratulates Liz Truss on becoming the United Kingdom’s 56th Prime Minister. The organization welcomes the opportunity to work with the UK government to advance small business priorities to benefit those entrepreneurs at the heart of the British and American economies.

“We look forward to engaging with Prime Minister Truss and the UK government to benefit entrepreneurship around the globe. In so many policy areas, the United States and the United Kingdom can learn from one anothers – prioritizing an agenda that will foster wealth creation for all citizens through dynamic entrepreneurial growth. As we have with other key trading partners, SBR will work to highlight opportunities for improved bilateral relations while continuing to grow our more than $200 billion exchange of goods and services,” said John Stanford and Rhett Buttle, co-founders of SBR.

The start of the Truss government coincides with SBR’s selection of London to host the 2023 Entrepreneurship Exchange (“EX23”), which convenes leading stakeholders from the global small business community for a day of dialogue and sharing of best practices.

Learn more about Small Business Roundtable .

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Small Business Roundtable Leadership Joins Commerce Sec. Raimondo & Labor Sec. Walsh to Discuss Economy, Jobs, & Launch of Job Quality Toolkit

Fri, 05 Aug 2022 21:04:29 GMT

For Immediate Release
Friday, August 5, 2022

Contact:
Elliott Long, elliott@smallbusinessroundtable.org

Small Business Roundtable Leadership Joins Commerce Sec. Raimondo & Labor Sec. Walsh to Discuss Economy, Jobs, & Launch of Job Quality Toolkit

Click here to view and download the Job Quality Toolkit

WASHINGTON, D.C. – On August 4th, Small Business Roundtable ( SBR ) Co-Executive Director and Founder of Public Private Strategies Rhett Buttle joined Commerce Secretary Gina Raimondo and Labor Secretary Marty Walsh for a discussion of the current state of the American economy and the launch of the Job Quality Toolkit.

Following the event, SBR Co-Executive Director & Founder of Public Private Strategies Rhett Buttle issued the following statement regarding the release of the Department of Commerce Job Quality Toolkit :

“As we continue to recover from the pandemic, small businesses are at the forefront of creating good jobs. Creating good jobs is key for small employers to retain talent under the current tight conditions of the labor market and maximize the growth of their business. This Job Quality Toolkit is a step forward for small employers who want to be the best workplace they can be. SBR looks forward to working with Secretaries Raimondo and Walsh to use our combined tools to help small businesses continue to grow and create good jobs in their communities.”

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SBR Members Highlight the Importance of Financial Education for Women on FICO Panel at NAWBO’s 2022 Advocacy Days

Fri, 24 Jun 2022 16:18:37 GMT

Access to capital is essential for women entrepreneurs when starting or growing a business. But finances and credit scores can be intimidating and are often not well understood. Indeed, in a recent survey the National Association of Women Business Owners (NAWBO) did with payroll platform Gusto, more than two-thirds of women business owners had utilized personal savings to fund their business, while much fewer had acquired a private business loan (23%) or a SBA-backed loan (15%) that would require the use of a credit score.

Earlier this month at NAWBO’s 2022 Advocacy Days in Washington, D.C., FICO joined SBR members NAWBO and NASE in a panel discussion to stress the importance of access to capital to women entrepreneurs, educate women business owners on how credit scores work, and provide them with the financial tools and resources they need to thrive.

NAWBO Incoming Board Chair Karen Bennetts kicked off the event in a keynote discussion with Congresswoman Claudia Tenney (R-NY). Representative Tenney has been a champion for women’s entrepreneurship and introduced the Women’s Business Centers Improvement Act earlier this year, which would reauthorize the Women’s Business Center Program through 2025. Representative Tenney emphasized the importance of financial education for women business owners. “Financial education empowers women to better understand and advocate for their business goals and needs. It is fundamental that women leaders across all businesses – large and small, no matter their background or current financial state, continuously educate themselves on how credit scores are calculated, how to improve them, and how to build credit,” she said.

The keynote discussion was followed by an expert panel on the role credit scores and financial literacy play in accessing capital and the steps women business owners can take to maintain and improve their credit. The panel was moderated by Marsha Barnes, Founder and CEO of The Finance Bar , and featured:

Joanne Gaskin , Vice President of Scores and Analytics and Founder of Score A Better Future at FICO
Katie Wonnenberg, Vice President for Government Relations and Public Affairs, National Association for the Self-Employed (NASE)
Karen Bennetts , NAWBO National Incoming Board Chair and Owner & Founder of Little Red Bird

Joanne Gaskin, Vice President of Scores and Analytics and Founder of Score A Better Future at FICO, described how credit scores work and why FICO founded the Score A Better Future program. Score A Better Future is a free program that gives individuals the knowledge and access to services they need to understand and grow their credit score. “Understanding your finances and how your credit score works is incredibly important to the long-term success of your business. We created the free Score A Better Future program to provide individuals the education and credit counseling they need to achieve their financial goals, whether starting or growing a business, buying a new home, or other opportunities,” Joanne said.

Katie Wonnenberg, Vice President for Government Relations and Public Affairs at NASE, spoke about the organization’s perspective on access to capital issues as a member organization of the Small Business Roundtable (SBR). SBR is the largest coalition of small business and entrepreneurship organizations, dedicated to advancing policy, securing access, and promoting inclusion to benefit the businesses at the heart of the American economy. “One of the primary reasons SBR was founded was because member organizations identified a common need for education among business owners when it came to access to capital. By partnering with FICO, SBR is able to connect business owners to a trusted, reliable source to better understand their financial picture as they look to start and grow their businesses,” Katie said.

NAWBO Incoming Board Chair Karen Bennetts described the importance of access to capital to women business owners and why it's a pillar of NAWBO’s 2022 Advocacy Agenda . “Access to capital consistently ranks as the top issue of concern for women entrepreneurs. It is quite often the difference between making it and going out of business. As a member of SBR and in partnership with FICO, NAWBO has been able to provide its members with the financial education and tools they need to learn and succeed,” Karen said.

Financial literacy and access to capital are key to ensuring the success of women-owned businesses. SBR is proud to partner with FICO and NAWBO to close the financial education gap and help women business owners achieve their goals.

The Largest Coalition of National Small Business Organizations, Small Business Roundtable, Applauds Bipartisan Infrastructure Passage

Mon, 15 Nov 2021 17:27:45 GMT

FOR IMMEDIATE RELEASE

11/15/2021

CONTACT

Ashlyn Roberts ashlyn@smallbusinessroundtable.org

Washington, D.C. - SBR Leaders issued the following statements in response to President Biden signing the Infrastructure Investment and Jobs Act into law:

Rhett Buttle & John Stanford, Co-Executive Directors of Small Business Roundtable

“We applaud Congress and the President in seeing this infrastructure package over the finish line. While ‘infrastructure week’ became a punchline in Washington, these investments in roads, bridges and technology are not a joke to American small businesses. The bipartisan compromise on this legislation shows that good policy can still be the product of advocacy and we hope more efforts like this can break the unending gridlock plaguing Washington. There are big victories for small businesses that will see more contracts and technical assistance to America’s job creators. We hope these benefits can be expanded – and in some cases funded – through the Build Back Better Act.”

SBR Members:

Candace Waterman, President & CEO, Women Impacting Public Policy ( WIPP )

“We applaud the Administration and Congress for their bipartisan efforts to reach an agreement on a comprehensive infrastructure plan. This bipartisan effort will deliver progress and spur economic growth for the American and women business owners, and it is our hope that Congress and the Administration will continue to work together on other measures important to women business owners, including government contracting and access to capital. This infrastructure plan will bring American roads, bridges, ports and airports to the 21st century and is a huge victory for women owned businesses and their workers.”

Chiling Tong, President & CEO of the National Asian Pacific Islander Chamber of Commerce and Entrepreneurship ( National ACE )

“The codification of the MBDA is a huge victory for all minority owned small businesses,” National ACE President and CEO Chiling Tong said, “The MBDA provides resources to increase capacity and unify minority-owned small businesses to develop and thrive. We commend the Biden-Harris Administration for its continued commitment to minority-owned small business.”

Eddie Monroy, Executive Director of the NextGen Chamber of Commerce

“This historic investment in our infrastructure will be transformational for our communities by providing jobs, clean water, green solutions, and modern digital access.

Most importantly the Bipartisan Infrastructure Framework impacts the next generation by growing the economy & positioning our nation to be the economic leaders of the 21st century.”

Jen Earle, CEO of the National Association of Women Business Owners ( NAWBO )

“The National Association of Women Business Owners (NAWBO) is proud of our lawmakers for moving bipartisan legislation across the finish line for women business owners across America. Our nation will flourish when we put party politics aside. NAWBO has been tirelessly advocating for affordable, reliable broadband across America, and we are pleased to see the light at the end of the tunnel. We hope this is the start of increased collaboration between parties to build a sustainable business economy,” said NAWBO Board Chair Cristina Morales-Heaney.”

Karen Kerrigan, President & CEO, Small Business & Entrepreneurship Council ( SBE Council )

"We congratulate members of Congress on both sides of the aisle and President Biden for their work in advancing this critical infrastructure package. Our nation's small businesses will greatly benefit from improved infrastructure – in terms of increased productivity, cost savings and opportunities to grow. Given our organization's focus on broadband access and deployment, especially for those communities that lack connectivity, we are pleased that more entrepreneurs and small businesses will be given the opportunity to access the digital economy through this package. Access to quality broadband is essential to inclusive entrepreneurship and economic opportunity. Moreover, we look forward to small business participation in broad range of infrastructure projects – from the building and construction industries to telecommunications, rail, cybersecurity, technology and more. Small business America will be needed to successfully build out and modernize, and we look forward to engaging further with Congress and the Administration to ensure inclusive access and participation in that process."

Keith Hall, President and CEO of the National Association for the Self-Employed ( NASE )

“After months of hard work, the House has passed the bipartisan infrastructure deal reached between Congress and the Administration. We applaud their bipartisan cooperation and investment in our nation’s roads, bridges, and highways – critical funding for improvements and shovel-ready projects needed in every corner of this nation. The real winners of this legislation will be the American people and millions of small businesses across the country who rely on a transportation and infrastructure system to move their American-made goods and workforce,” said Keith Hall, president and CEO of the National Association for the Self-Employed (NASE).

“It is our hope that the Administration and Congress continue to work together in a bipartisan way on a variety of issues, including those important to the small business community. We look forward to working with all our policy makers on each side of the aisle to strengthen the American small business community,” concluded Hall.

Ramiro A. Cavazos, President and CEO, United States Hispanic Chamber of Commerce ( USHCC )

“The United States Hispanic Chamber of Commerce applauds this historic investment that will mean more business for Hispanic entrepreneurs to provide more efficiency and competitiveness as we make huge investments in rebuilding our nation’s highways, bridges, and energy grid. This bill also increases broadband access to low-income and rural areas. The USHCC is proud to champion the procurement opportunities that this bill opens up for millions of Hispanic business owners, many who are eager to access capital at the same rate as their peers. We will continue to partner with Hispanic businesses to ensure all owners are aware of the economic opportunities that the recent Infrastructure deal creates,” Ramiro A. Cavazos, President and CEO, United States Hispanic Chamber of Commerce.

Ron Busby, President & CEO of the U.S. Black Chambers, Inc. ( USBC )

“The passage of the bipartisan Infrastructure Investment and Jobs Act represents a renewed and unprecedented commitment to the Black community writ large. This legislation will amplify opportunities for those in our community who need it most through increased and reliable broadband access and expanded opportunities for Black entrepreneurs to grow and scale their business through the newly codified Minority Business Development Agency (MBDA). We at the U.S. Black Chambers welcome this investment in America’s Black communities, and we look forward to the ways in which Congress will serve the American people by investing in human capital and infrastructure for FY22.”

Todd McCracken, President and CEO of National Small Business Association ( NSBA )

“This bill will help small businesses compete digitally, expand their markets and attract a greater range of potential workers,” stated NSBA President and CEO Todd McCracken. “Broad improvements to our national infrastructure are long overdue and stand to greatly help small businesses as we emerge from the pandemic and look toward growth and long-term success.”

SBR Affiliates

Connie Evans, President and CEO, Association for Enterprise Opportunity ( AEO )

“AEO commends Congress for passing the bipartisan Infrastructure Investment and Jobs Act, which includes funding for the Disadvantaged Business Enterprise program, ensuring microbusinesses an opportunity to contribute to the renewal of American infrastructure. Additionally, AEO is thrilled to see the codification of the Minority Business Development Agency (MBDA). The MBDA is critical in helping minority-owned microbusinesses scale and grow through accessing capital and gaining technical assistance, and AEO has remained an advocate for its formalization. We look forward to seeing microbusinesses benefit from the expanded impact of the MBDA for years to come.”

Ricky Smith, Board Chair, Airport Minority Advisory Council ( AMAC )

“This historic and highly-anticipated investment into our nation’s infrastructure, particularly airports, marks a monumental opportunity to fuel AMAC’s mission of advancing the full participation of minorities and women in employment and contracting opportunities throughout the aviation and aerospace industries,” said AMAC President & CEO, Eboni Wimbush, “AMAC is diligently working on behalf of our diverse membership through our advocacy efforts, critical programming and vast networking opportunities, to position our members to receive equity throughout this transformation of America’s infrastructure that is to come from this generational investment.”

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Nation’s Largest Small Business Coalition, Small Business Roundtable, Announces Women Impacting Public Policy as a New Member

Thu, 15 Jul 2021 16:04:44 GMT

FOR IMMEDIATE RELEASE

7/15/2021

CONTACT

Ashlyn Roberts ashlyn@smallbusinessroundtable.org

Washington, D.C - The Small Business Roundtable ( SBR ), a coalition of leading small business and entrepreneurship organizations, is pleased to welcome Women Impacting Public Policy ( WIPP ) as a new member of SBR’s national small business collaborative.

WIPP President & CEO, Candace Waterman, said the following:

“As we look ahead towards economic recovery, we are thrilled to join Small Business Roundtable and combine our efforts with these industry leaders to advocate for small businesses, especially for those disproportionately affected by the pandemic. WIPP brings more than 20 years of experience in advocating for women small business owners, and looks forward to bolstering SBR efforts to improve opportunities for women entrepreneurs, a crucial part of the small business community.”

SBR Co-Executive Directors Rhett Buttle and John Stanford issued the following joint statement:

"We are honored to welcome Women Impacting Public Policy (WIPP) as the newest member of Small Business Roundtable. WIPP’s advocacy promoting equal opportunity for women-owned businesses will provide a thoughtful input and approach to issues affecting the small business community.

As WIPP draws from nearly 20 years of industry experience, we look forward to the unique perspective that WIPP will bring to our conversations and to the robust collaboration this partnership will forge.”

The addition of WIPP strengthens the coalition and enhances the diversity of SBR giving a boost to the voices of women small business owners. As the nation recovers from COVID-19, strengthening small businesses will be at the core of the partnership going forward."

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Small Business Roundtable ( www.smallbusinessroundtable.org ) is a coalition of leading small business and entrepreneurship organizations, dedicated to advancing policy, securing access, and promoting inclusion to benefit the businesses at the heart of the American economy.

Women Impacting Public Policy ( www.wipp.org ) is a national nonpartisan organization advocating on behalf of women entrepreneurs—strengthening their impact on our nation’s public policy, creating economic opportunities, and forging alliances with other business organizations.

The Largest Coalition of National Small Business Organizations, Small Business Roundtable, Encouraged by Bipartisan Infrastructure Agreement

Thu, 08 Jul 2021 18:38:08 GMT

FOR IMMEDIATE RELEASE

7/8/2021

CONTACT

Ashlyn Roberts ashlyn@smallbusinessroundtable.org

Washington, D.C. - SBR Leaders issued the following statements in response to Bipartisan Infrastructure Agreement:

Rhett Buttle & John Stanford, Co-Executive Directors of Small Business Roundtable

“This bipartisan framework shows that it is possible to work across the aisle to better roads, bridges, transit and rail to benefit Americans across the nation and enable them to return to work. Many provisions would bolster the American competitive marketplace and economy and create new opportunities for small businesses and workers. We know this package doesn’t include or tackle everything -- that’s what compromise is about. We look forward to continued conversations on topics such as paid leave, lowering healthcare costs, increasing contracts and capital to women and business owners of color. We will continue to work with the Administration and Congress in ensuring that the small business community remains a priority in this package and future legislation.”

Candace Waterman, President & CEO of Women Impacting Public Policy ( WIPP )

Chiling Tong, President & CEO of the National Asian Pacific Islander American Chamber of Commerce and Entrepreneurship ( National ACE )

“National ACE applauds the recent bipartisan efforts of Congress and the Administration to deliver an infrastructure plan that will create jobs and economic opportunities for AAPI small businesses. The infrastructure plan will make American markets more competitive and allow a diverse range of industries to contribute to vital infrastructure projects. We look forward to future bipartisan discussions around not only infrastructure, but other key areas that will bolster AAPI small business.”

Eddie Monroy, Executive Director of the NextGen Chamber of Commerce

"NextGen applauds efforts from the Administration, Congress, & both sides of the aisle as we see an infrastructure deal come closer to reality. For far too long our country has needed to invest in modern infrastructure which will sustain the growth of our emerging communities. An infrastructure deal makes sure that generations to come have the ability to thrive in their hometowns in an equitable way. The pandemic has demonstrated the country’s ability to work together - now is the time to continue working together in order to ensure future generations have access to clean drinking water, safe roads to travel, a reduced carbon footprint, and access to digital tools, all of which will help contribute to local economic development opportunities."

Jen Earle, CEO of the National Association of Women Business Owners ( NAWBO )

“We continue to hear from women business owners that more reliable and affordable internet is needed to expand and grow their businesses,” explained NAWBO CEO Jen Earle. “We applaud the Senate for their bipartisan work to move a package forward, and we look forward to supporting a final bipartisan solution that will move our women business owner economy in the right direction.”

Jill Houghton, President & CEO of Disability:IN

“Disability:IN commends the efforts to work across the aisle to find a common ground on a comprehensive infrastructure deal. Provisions in this deal would improve the lives of disabled Americans including a focus on a more sustainable economy, a much needed upgrade of public transit systems across the country, and a more competitive marketplace for business disability inclusion. Beyond the infrastructure proposal, we will continue our work to empower business to achieve disability inclusion and equality”

Justin G. Nelson, Co-Founder & President of the National LGBT Chamber of Commerce ( NGLCC )

“On behalf of the estimated 1.4 million LGBT businesses in the US, who contribute over $1.7 trillion annually to the US economy, drive sustainable growth, and create tens of thousands of jobs, we believe the proposed infrastructure plan will be a significant driver for our diverse small businesses. As this bill moves forward in Congress, we hope there is bipartisan agreement that diverse and small businesses should be active recipients of contracting opportunities.”

Karen Kerrigan, President & CEO of the Small Business & Entrepreneurship Council ( SBE Council )

"Modern infrastructure is critical to U.S competitiveness, and the ability of small businesses, their workforce and entrepreneurs to operate effectively and productively. Given the great need in our country, a bipartisan path on infrastructure should be achievable. We encourage congressional leaders on this issue to keep striving towards the creation of an inclusive package that provides small businesses a meaningful opportunity to participate in contracting opportunities.

Keith Hall, President and CEO of the National Association for the Self-Employed ( NASE )

“The small business community applauds both the Administration and Congress for working together in a bipartisan way to reach a deal on infrastructure. While the real work now begins, the winners of this deal will be the American people and small businesses who rely on a transportation and infrastructure system to move their American-made goods and workforce. It is our hope that the Administration and Congress continue to work together on a variety of issues, including those important to the small business community. We look forward to working with all our policy makers to ensure the strength of the American small business community.”

Ramiro A. Cavazos, President and CEO of the United States Hispanic Chamber of Commerce ( USHCC )

“The United States Hispanic Chamber of Commerce (USHCC) represents the economic interests of more than 4.7 million Hispanic businesses in the U.S., who contribute over $800 billion annually to our economy. We firmly believe the proposed infrastructure plan by the Administration will be a key economic driver for our minority small business community. As this bill moves forward in Congress, we urge bipartisan support for our Hispanic businesses to have access and be recipients of federal contracting opportunities at all levels to grow our economic power and scale Hispanic business.”

Ron Busby, President & CEO of U.S. Black Chambers, Inc. ( USBC )

“As the national voice of Black businesses, the U.S. Black Chambers, Inc. (USBC) supports a robust, comprehensive infrastructure package that improves predominantly Black neighborhoods and subsequently ensures Black business owners and entrepreneurs are provided opportunities to help solve our country's critical infrastructure challenges. We encourage lawmakers to include equitable measures that advance our nation's Disadvantaged Business Enterprises (DBEs), prompt-pay initiatives, among other significant provisions in the forthcoming infrastructure deal.”

Todd McCracken, President and CEO of the National Small Business Association ( NSBA )

“Having a fully-functioning, modern infrastructure is critical to America’s small businesses, and this bipartisan legislation stands to make major improvements—something that hasn’t been done in more than 35 years.

Infrastructure improvements hold untold opportunities for small businesses, both in access to customers and services, but also in terms of helping to make those improvements through the federal contracting process.

It is important to underscore this framework as a bipartisan win—one of NSBA’s top priorities is political reform and closing the partisan gap—and while there are still many details to iron-out, the good-faith negotiations should serve as an example of how policy can and should be made.”

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Sign on Letter: The RESTART Act will Give Small Businesses the Support they Need Right Now

Fri, 21 Aug 2020 18:53:51 GMT

As current and former CEOs of some of America’s largest companies, major trade associations, and successful small businesses, we know that small businesses are essential to our country’s economic and social health. They employ almost half of all private-sector workers and account for 44 percent of U.S. GDP.

Small businesses are too critical to our country’s economic strength to let fail. From retailers and restaurants to consulting firms and manufacturers, small business owners are facing a future of potential financial ruin that will make the nation’s current economic downturn last years longer than it must.

While the Paycheck Protection Program (PPP) has provided short-term relief for many, that lifeline is coming to an end. Another round of PPP would certainly be helpful for many of these businesses, but the hardest-hit sectors will need much more significant and sustained support. Although our country is in the process of reopening, it is hardly a return to normal, and many businesses may be required to close again. Most small businesses don’t have enough cash in the bank to weather more months of reduced revenue and customer traffic. To survive until a vaccine is widely available, millions of small businesses will require longer-term support from the federal government.

At this moment of crisis, we urge you to transcend partisanship and forge meaningful agreement on an assistance package to help our struggling small businesses and, in turn, tens of millions of Americans. We believe that assistance should embrace the following principles:

Federally guaranteed loans, at favorable terms, that will enable small businesses to transform and sustain themselves through 2020 and well into 2021. Support must last for longer than just the next two or three months.
Businesses should have flexibility in how loan funds are used.
The hardest-hit businesses should be eligible for at least partial loan forgiveness. Any forgiveness should be limited to small and mid-sized firms that have suffered significant revenue declines and are not publicly traded.
Relief needs to be delivered expeditiously. Building on the existing PPP infrastructure would be one way to quickly stand up a new loan program.
These funds must flow to all small businesses in need, particularly those run by people of color, who have traditionally had less access to capital. A portion of funds should also be directed toward strengthening community development financial institutions (CDFIs) and minority depository institutions (MDIs).

Strong bipartisan support for Senator Michael Bennet and Senator Todd Young’s RESTART Act—which embodies all of these principles—demonstrates recognition of the need for this kind of sustained support. We believe something resembling the RESTART Act must be in this next package.

This is not a call for bottomless handouts. It is a defining moment to show how capitalism can benefit all Americans, particularly entrepreneurs who have been forced to shutter or reduce the capacity of their businesses through no fault of their own.

We cannot stress enough the urgent need to act. Every day that passes without a comprehensive recovery program makes recovery more difficult. By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon. Tens of millions of Americans have already lost their jobs in this pandemic. Allowing small businesses to fail will turn temporary job losses into permanent ones. By year end, the domino effect of lost jobs—as well as the lost services and lost products that small businesses provide—could be catastrophic.

Republicans and Democrats already agree that small businesses are essential to the fabric of our communities and economy. It is time to put that belief to work. We urge Congress to support these principles in drafting the next round of COVID-19 relief legislation.

SBR and PayPal Partner for Third in a Webinar Series Addressing Business Leadership During Crisis

Fri, 05 Jun 2020 16:35:33 GMT

Small Business Roundtable and PayPal partnered for a timely and impactful conversation with small business leaders to discuss leadership during times of crisis. Strong leadership is key to navigating a crisis. While no playbook exists for leadership under high stakes circumstances, small businesses that are adaptable and resilient a crisis will thrive. As a leader, how you adapt to the current COVID-19 pandemic and plan for the future can make or break your small business. Crisis preparedness can seem futile in the midst of a crisis, but now is the time to plan ahead. Our experienced professionals will share their perspectives on what they have found works best and how they are preparing for future crises.

Guest Panelists included:

Ron Busby, President & CEO, United States Black Chambers, Inc. ( USBC )
Jen Earle, CEO, National Association of Women Business Owners ( NAWBO )
Keith Hall, President & CEO, National Association for the Self Employed ( NASE )
Corinne Hodges, Founder & CEO, Association of Women's Business Centers ( AWBC )

SBR and PayPal Partner for Second in a Webinar Series Exploring Digital Strategy Amid the Coronavirus Pandemic

Fri, 05 Jun 2020 16:13:18 GMT

Small Business Roundtable and PayPal partnered for a wide ranging discussion with small business leaders and owners focused on optimizing digital strategy amid COVID-19. Sustained productivity throughout the Coronavirus pandemic is essential for small businesses to prosper. The landscape of commerce is changing as consumers and businesses are forced to operate remotely. This has led to a boost in the digital marketplace and digital payments. This webinar will discuss how to maintain digital efficiency while working remote and will include specific discussion on digital payments, new ways to reach consumers, and optimizing web presence. Notably, these strategies will play an important role for business owners long after a return to business normalcy.

Guest Panelists included:

Allen Gannett, Author, The Creative Curve
Aram Nadjarian, Chair, NextGen Chamber of Commerce ; Founder & CEO, Mozaic Media & Communications
Margaret Brown, Founder & CEO, SocializeLA
Emily Griesing, Co-Owner & Chief Strategy Officer, Bossible

SBR and PayPal Partner for First in a Webinar Series Focused on Financial Security During COVID-19

Fri, 05 Jun 2020 15:50:32 GMT

Small Business Roundtable and PayPal partnered for a poignant conversation with small business leaders and owners to discuss access to capital during the coronavirus pandemic. Capital is crucial to keep small businesses afloat during hardship. Many small businesses have received assistance through the new Small Business Administration programs outlined by the CARES Act: the 7(a) Paycheck Protection Program ( PPP ) loan and Economic Injury Disaster Loans ( EIDL ) advance grants program. This webinar explored the SBA loans, loan forgiveness requirements, and how alternative lenders can play an important role in reaching underserved entrepreneurs during this crisis as well as in the future.

Guest Panelists included:

Todd McCracken, President & CEO, National Small Business Association ( NSBA )
Karen Kerrigan, President & CEO, Small Business & Entrepreneurship Council ( SBE Council )
Mark Madrid, CEO, Latino Business Action Network ( LBAN )
Suzanne Citere, Owner, Real Dance Studio

Small Business Roundtable & Facebook Launch Partnership to Empower Small Business During COVID-19

Mon, 18 May 2020 12:36:10 GMT

The two organizations are releasing a report & convened small business leaders

to highlight the importance of small business to American economy

The Small Business Roundtable (SBR) and Facebook have partnered to release the State of Small Business Report on the impact of small businesses on the U.S. economy. The survey was conducted with approximately 86,000 people who owned, managed or worked for a small or medium-sized business (“SMB”).

Picture: Small Business Leaders & Facebook COO Sheryl Sandberg convene virtually

to discuss the report & issues impacting American small business.

This report follows a virtual discussion that SBR hosted this past Friday with Sheryl Sandberg, the Chief Operating Officer of Facebook. The group discussed the ongoing economic impacts and the importance of making sure small businesses are at the center of our recovery efforts. The report results provide a better understanding of which businesses are still operational and which are not, where they are located, and what their most pressing needs are. Key results include:

A third of small businesses have closed their doors to an uncertain future.
The biggest challenges for small businesses are access to capital and customer demand behavior.
Small and medium-sized businesses are turning to internet tools to adapt.
Nearly half of small business owners and managers are struggling to balance running a business and caring for their households.
Employees are facing dire economic circumstances. More than half of the small business owners and managers surveyed don’t intend to rehire.
But yet, 57% of owners and managers remain optimistic and resilient.

Participants in the group discussion included:

Sheryl Sandberg, Chief Operating Officer, Facebook
Rhett Buttle, Co-Executive Director, Small Business Roundtable & Founder, Public Private Strategies
John Stanford, Co-Executive Director, Small Business Roundtable & Managing Partner, Prism Group
Karen Kerrigan, Chair, Small Business Roundtable & CEO of the Small Business & Entrepreneurship Council
Chiling Tong, President & CEO, Asian/ Pacific Islander Chamber of Commerce and Entrepreneurship (National ACE)
Jen Earle, CEO, National Association of Women Business Owners (NAWBO)
Aram Nadjarian, Chair, NextGen Chamber of Commerce
Keith Hall, President & CEO, National Association for the Self-Employed (NASE)
Ron Busby, President & CEO, U.S. Black Chambers, Inc. (USBC)
Todd McCracken, President & CEO, National Small Business Association (NSBA)
Ramiro Cavazos, President & CEO, United States Hispanic Chamber of Commerce (USHCC)
Jill Houghton, President & CEO, Disability:IN
Facebook & SBR Team Members

More results from the report can be viewed here .

Small Business Roundtable Hosted a Roundtable Featuring House Speaker Nancy Pelosi to Discuss COVID-19

Wed, 06 May 2020 13:40:42 GMT

Small Business Roundtable Co-Executive Directors Rhett Buttle and John Stanford led a poignant discussion featuring House Speaker Nancy Pelosi about COVID-19’s continued implications for small business owners and the potential for future relief efforts by the U.S. Congress.

Speaker Nancy Pelosi gave remarks on the state of COVID-19 relief efforts so far, as well as the direction she would like to see future legislation take. She also said "know your power," making a call for participants to engage in the legislative process with their local members of Congress to see changes they want to see enacted.

Following the Speaker's words, small business owners gave personal accounts of their experiences coping with the COVID-19 crisis:

Frank Knapp, the Owner of Carolina Pet Resort, LLC and President of the South Carolina Small Business Chamber of Commerce
Shaundell Newsome, the Founder of Sumnu Marketing, LLC and Chair of the Las Vegas Urban Chamber of Commerce
Anne Zimmerman, the Founder and Owner of Zimmerman and Co. CPAs, Inc. and Co-Chair of Businesses for Responsible Tax Reform

Small Business Roundtable members kicked off the discussion with specific questions for the Speaker regarding the response to the pandemic:

Ramiro Cavazos, the President and CEO of U.S. Hispanic Chamber of Commerce ( USHCC )
Jen Earle, the CEO of the National Association of Women's Business Owners ( NAWBO )
Chiling Tong, the President and CEO of Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship ( National ACE )

Each expressed what they were hearing from their members on the ground and Speaker Pelosi thanked each for their perspective and stated her desire to help. The roundtable then opened up to the entire group of small business leaders present; we heard from:

Ron Busby, the President and CEO of U.S. Black Chambers, Inc. ( USBC )
Keith Hall, the President and CEO of the National Association for the Self Employed ( NASE )
Jill Houghton, the President and CEO of Disability:IN
Karen Kerrigan, the President and CEO of the Small Business and Entrepreneurship Council ( SBE Council )
Todd McCracken, the President and CEO of the National Small Business Association ( NSBA )
Aram Nadjarian, the Chair of the NextGen Chamber of Commerce

The leaders touched on their membership's experiences amid COVID-19 and their priorities moving forward. Lastly, John Stanford moderated questions from webinar attendees with Small Business Roundtable legislative experts:

Katie Vlietstra Wonnenberg, the Vice President for Government Relations and Public Affairs for NASE
LeRoy Cavazos, the Vice President for Government and International Relations for USHCC

Joined by the remaining small business leaders, each discussed potential legislative action in the works.

Other Special Partners included:

American Sustainable Business Council ( ASBC )
Association for Enterprise Opportunity ( AEO )
Association of Women’s Business Centers ( AWBC )
Businesses for Responsible Tax Reform ( BRTR )
Connected Commerce Council ( 3C )
Latino Business Action Network ( LBAN )
National Association of Workforce Boards ( NAWB )
National LGBT Chamber of Commerce ( NGLCC )
Main Street Alliance ( MSA )
Small Business Majority ( SBM )

SBR Member Resources:

National Small Business Association Polling

Small Business & Entrepreneurship Council Insider

National Association for the Self Employed Portal

US Black Chambers, Inc. Resource Guide

National ACE Resource Guide

United States Hispanic Chamber of Commerce Resource Guide

Disability:IN Resource Guide

National Association of Women’s Business Owners Resource Portal

SBR Resource Guide

COVID-19 Employer Resource Tracker

Small Business Roundtable Sends Letter to Speaker Pelosi and Majority Leader McConnell on ongoing and future COVID-19 relief efforts

Wed, 08 Apr 2020 20:25:39 GMT

The Honorable Nancy Pelosi

Speaker of the House of Representatives

U.S. House of Representatives

United States Capitol

Washington, DC 20515

The Honorable Mitch McConnell

Majority Leader

U.S. Senate

United States Capitol

Washington, DC 20515

Dear Madam Speaker and Majority Leader McConnell:

On behalf of the organizations representing this nation’s 30 million small businesses, we write to you today with an urgent request for clarity around the next phase of your conversation to help small businesses, including the Paycheck Protection Program (PPP). We appreciate your attention to the small business and self-employed sector and we ask for consideration of the following.

Request for Meeting with Small Business Roundtable CEOs

The Small Business Roundtable (SBR) is a coalition of leading small business and entrepreneurship organizations dedicated to advancing policy, securing access, and promoting inclusion to benefit America’s small business owners. We are writing to request a meeting with you to discuss ways we can work together to achieve our shared goal of providing necessary support to U.S. small businesses as they cope with the COVID-19 crisis.

Strategic Use of New Funds

Given the interest in providing additional funds for the Paycheck Protection Program, we believe it concurrently prudent for Congress to provide additional guidance and direction as to how those funds will be used and further ensure that those small businesses who are most vulnerable (business owners of color, women business owners, small employers (50 or less), and self-employed) are provided more protections and pathways to access the program. We are disappointed to hear from many of our members that they have been essentially shut out of the program due to various challenges both from the implementation and banking side.

Small business owners believed that the intent and language of the legislation would align with the rules, therefore many were disappointed to see changes to the non-payroll portion of forgivable expenses and the limitation placed on EIDL loan advances. Moreover, being that the economic effects of COVID-19 will now extend later than what many thought would be the case, the timelines and deadlines associated with the legislation are no longer appropriate. We believe there should be flexibility given to the SBA and Treasury to extend, for example, the June 30 deadline associated with PPP loans.

Better Communication & Expanded Set of Lenders

Given the magnitude of the crisis, we understand how fast everyone is moving to respond. At the same time, guidance for lending institutions has been lacking which has led to confusion, under-preparedness and challenges for implementation. Additionally, it would be helpful to have additional clarity on eligibility for minority-owned, community banks and credit unions. How do lending institutions that were not previously SBA certified, receive the delegated authority from the SBA? Finally, guidance put out by the Administration provided limited details on the inclusion of non-SBA and non-bank lenders. We support the swift inclusion of these entities to maximize the opportunities for small business borrowers. We should also address the capital needs and lending abilities of minority depository institutions and credit unions. These lending institutions primarily operate and serve low and minority income communities who have some of the most vulnerable businesses or most established minority businesses. Legislative action is needed so that these lending institutions can serve their customer and get them necessary operational capital.

The Prioritization of Disadvantaged Communities

The legislation requires the prioritization of certain communities. Many of these communities are underbanked and face pre-existing capital challenges. We urge you to continue to work with the Administration to prioritize these communities.

Additional Help Guidance Needed for the Self-Employed and 1099 Independent Contractors

Make sure that sole-proprietors and 1099 independent contractors can access funding to continue working, allowing their clients to maintain them on payroll, and ease the restrictions of the Paycheck Protection Program so that employers can use 1099 employees as part of their payroll to access the PPP. Extend the PPP with more stimulus funding to allow for more businesses to apply. We also encourage you to enact legislation that requires specific disaster business loans and over relief funds for the self-employed and independent contractors. Furthermore, this segment could be immediately boosted if the IRS waves the income taxes for the first $10,000 of self-employed or contracted dollars these Americans gain.

Amendment to the Small Business Act to Ensure the Inclusion of Certain 501(c)(6) Organizations in Coronavirus Relief Packages

In the Coronavirus Aid, Relief, and Economic Security (CARES) Act, 501(c)(6) organizations were not included in the Paycheck Protection Program. However, a contingent of this group assists small businesses in navigating normal day-to-day operations and is especially critical in providing guidance during times of crisis. By including specific 501(c)(6) organizations while also prohibiting others, the spirit of the CARES Act remains intact.

Resources and Services in Languages other than English

Expand Section 1111 of the existing CARES Acts to provide minority communities with the necessary resources in their individual native languages. This section should not discriminate communities of diverse racial ethnicities and should be inclusive of all sub-minority groups in America. All resources should be adequately translated and distributed in all available channels to include the world wide web, printed materials, and in-person translation for any presentation conducted by a government entity when providing business assistance to affected businesses. This measure should also include service for the blind, legally blind, visually impaired, and deaf communities.

We urge you to reach out directly with any questions, given the timely nature of these policies. We are available at your convenience and can be speedily convened by contacting our team at team@smallbusinessroundtable.org.

Sincerely,

Chiling Tong, President & CEO, Asian and Pacific Islander Chamber of Commerce and Entrepreneurship

Jill Houghton, President & CEO, Disability: IN

Keith Hall, President & CEO, National Association for the Self Employed

Jen Earle, CEO, National Association of Women Business Owners

Todd McCracken, President & CEO, National Small Business Association

Karen Kerrigan, Chair, Small Business Roundtable, CEO, Small Business & Entrepreneurship Council

Ron Busby, President & CEO, U.S. Black Chambers, Inc.

Ramiro Cavazos, President & CEO, U.S. Hispanic Chamber of Commerce

John Stanford, Co-Executive Director, Small Business Roundtable

Rhett Buttle, Co-Executive Director, Small Business Roundtable

cc:

The Honorable Marco Rubio, Chairman, Senate Committee on Small Business and Entrepreneurship

The Honorable Ben Cardin, Ranking Member, Senate Committee on Small Business and Entrepreneurship

The Honorable Nydia Velazquez, Chair, House Committee on Small Business

The Honorable Steve Chabot, Ranking Member, House Committee on Small Business

DOWNLOAD PDF VERSION OF LETTER

Small Business Roundtable Sends Letter to the Treasury Department and SBA on PPP Guidance

Wed, 01 Apr 2020 19:51:31 GMT

The Honorable Steven T. Mnuchin

Secretary of the Treasury

U.S. Department of the Treasury

1500 Pennsylvania Ave NW

Washington, DC 20220

The Honorable Jovita Carranza

Administrator

U.S. Small Business Administration

409 3rd Street, SW

Washington, DC 20416

Dear Secretary Mnuchin, Administrator Carranza:

On behalf of the organizations representing this nation’s 30 million small businesses we write to

you today with an urgent request for clarity around the Paycheck Protection Program, as detailed

by your guidance released yesterday. We ask for consideration or clarification of the following

points (listed in no particular order):

These Funds May Not Prove Enough

While the amount provided to the Small Business Administration is limited by statute, we are

immediately concerned that this may not be enough funding to support American small businesses

during this time. We have seen in some states an extension well into June of conditions that

effectively prevent business operation. In the guidance, the Department alludes to this challenge,

indeed, suggesting a new limitation on the program (more below).

Chairman Rubio has already acknowledged that additional funds may be necessary, but that this

will likely remain the structure to do so. We will take these concerns to Congress in hopes that

additional resources may be made available.

Arbitrary Loan Terms May Harm Businesses by Limiting Bank Participation

While the legislation set broad caps on loan terms (4% interest rate and 10 year loan maturity), we

are seeking clarity on the Department’s decision to set the rate at 0.5% (50 basis points) and a loan

term of two (2) years.

The Role of Minority and Community Lenders

We are asking for additional clarity on the eligibility for minority-owned and community banks.

Are these banks deemed eligible for the program, but must receive delegated authority from SBA?

Is additional guidance from SBA expected prior to the program launch date of April 3, 2020? Are

existing 7(a) Community Advantage, 504 and microlenders deemed eligible or should they also

pursue delegated authority? Can CDFI be included in this section as they are a major link to other

lenders in LMI communities? Does the SBA need minority asset managers to help lenders in

deploying these funds? We believe minority asset managers need to be included.

The Speedy Approval of Non-SBA Lenders

The guidance provided limited details on the inclusion of non-SBA and non-bank lenders. We urge

additional guidance for the swift inclusion of these entities to maximize the opportunities for small

business borrowers.

The Prioritization of Disadvantaged Communities

The legislation (p.30) requires the prioritization of certain communities as detailed in the below

text. Many of these communities are underbanked and face pre-existing capital challenges. With

Treasury’s notes that funding will potentially expire quickly, how is the program intending to

fulfill this requirement?

SENSE OF THE SENATE.—It is the sense of the Senate that the Administrator should issue guidance to lenders and agents to ensure that the processing and disbursement of covered loans prioritizes small business concerns and entities in underserved and rural markets, including veterans and members of the military community, small business concerns owned and controlled by socially and economically disadvantaged individuals (as defined in section 8(d)(3)(C)), women, and businesses in operation for less than 2 years.

Clarity for Equity-Backed Businesses

As many in the small business community have noted, there is concern around the affiliation rules

for companies that have received venture capital or private equity funding. Does Treasury or SBA

have guidance on if these businesses can apply for the funding?

Clarity on Non-Profit Entities

The legislation limits non-profit participation, generally speaking, to 501(c)(3) organizations (as

well as veteran and tribal organizations). It did not include (c)4 or (c)6 organizations. The

guidance, however, does not have any limitation or details on non-profits. We are concerned

ineligible organizations may be confused by the Treasury guidance—or if Treasury has deemed

these organizations now eligible additional clarification is needed.

Representations of Borrowers

Could the Treasury provide additional explanation on the representations of the borrower found in

the application? In particular, the requirement to purchase American-made equipment and

products.

New 25% Limitation on non-payroll costs

In the guidance, Treasury has noted a new 25% maximum for non-payroll costs that would be

eligible for loan forgiveness. We are concerned that without additional guidance for independent

contractors, this could limit the utility of the program for certain businesses. If self-employed

individuals have not been able to pay themselves because of a lack of revenue, this suggests they

also cannot be forgiven their rent or utility expenses. This also harms retail businesses and

restaurants that may have significantly larger expenses – such as rent and utilities – that will be

precluded from forgiveness under the arbitrary 25% maximum.

Limitation to $100,000 maximum per employee

In guidance payroll costs are capped per employee at $100,000. But does that include health

insurance and other benefits? The law as passed includes salary only in this calculation, but the Treasury guidance says in a few places “payroll costs capped at $100,000” per employee, suggesting the $100,000 may be inclusive of non-salary benefits.

Allowable loan costs after February 15th, 2020

The legislation allows the loan for mortgage interest, rent, and utilities incurred after February

15th, though these would not be eligible for forgiveness. The guidance suggests that these are not

allowed costs. Could the Treasury please clarify?

Possible Safe Harbor for Benefits Election

To expedite the loan application and simplify calculations, would Treasury consider creating a safe

harbor election for total benefits to employees? This could be a percentage of payroll that

businesses could select instead of calculating (and possibly pro-rating) benefits from 2019. We

would defer to Treasury and SBA on an appropriate percentage but believe this could simplify the

loan for many business owners.

Additional Guidance Needed on 1099s and the Self-Employed

Can a business count independent contractors in payroll costs as envisioned on page 12 and 22 of

the legislation? It is our understanding that small businesses may include the 1099-MISC payments

toward 2019 payroll costs and loan forgiveness.

Actions Businesses Have Already Taken

What about reductions to salary that employers have already put in place? The bill seemed to say

that if the employees were re-hired by June 30 that was okay (but for what pay cycle?).

Impact of other lending programs, specifically EIDL

The legislation allows for the refinancing of EIDL loans into the PPP loan. This also requires an

increase in loan size. The guidance was silent on the role of EIDL. Can you provide additional

clarification on that process? Particularly if the loan for the EIDL (or part of it) was taken to cover

payroll costs and other expenses, and if these will be forgiven once rolled into a PPP loan.

How to apply, when and where?

The loan application states that on April 3, 2020 "small businesses and sole proprietorships" may

apply. You then show April 10 for "independent contractors and self-employed". Generally

speaking, independent contractors and self-employed are sole proprietors. When should they file?

Most independent contractors and self-employed file a schedule C as a sole proprietor.

Most critically, changes to the current SBA website have created challenges to identifying local

lenders. Can SBA please provide a location or update on Lender Match portal in order for

businesses to easily find banks.

We urge you to reach out directly with any questions, given the timely nature of these policies.

We are available at your convenience and can be speedily convened by contacting John Stanford

at john@smallbusinessroundtable.org .

Sincerely,

Chiling Tong, President & CEO, Asian/Pacific Islander Chamber of Commerce and

Entrepreneurship

Jill Houghton, President & CEO, Disability:IN

Keith Hall, President & CEO, National Association for the Self Employed

Jen Earle, CEO, National Association of Women Business Owners

Todd McCracken, President & CEO, National Small Business Association

Karen Kerrigan, Chair, Small Business Roundtable, CEO, Small Business & Entrepreneurship

Council

Ron Busby, President & CEO, U.S. Black Chambers, Inc.

Ramiro Cavazos, President & CEO, U.S. Hispanic Chamber of Commerce

John Stanford, Co-Executive Director, Small Business Roundtable

Rhett Buttle, Co-Executive Director, Small Business Roundtable

cc:

The Honorable Mike Pence, Vice President of the United States

The Honorable Steve Mnuchin, Secretary, Department of Treasury

Larry Kudlow, Director, National Economic Council, White House

The Honorable Jovita Carranza, Administrator, Small Business Administration

The Honorable Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System

The Honorable Marco Rubio, Chairman, Senate Committee on Small Business and Entrepreneurship

The Honorable Ben Cardin, Ranking Member, Senate Committee on Small Business and Entrepreneurship

The Honorable Nydia Velazquez, Chair, House Committee on Small Business

The Honorable Steve Chabot, Ranking Member, House Committee on Small Business

Members, United States Senate

Members, United States House of Representatives

DOWNLOAD PDF VERSION OF LETTER

Small Business Roundtable Hosted a Web Event Featuring the Small Business Administration and Special Partners to Discuss COVID-19 Relief

Sat, 28 Mar 2020 16:58:59 GMT

Small Business Roundtable Co-Executive Directors Rhett Buttle and John Stanford led an informative and timely conversation about COVID-19’s implications for small business owners and the relief efforts conducted by the Small Business Administration (SBA) and U.S. Congressional Legislators.

Bill Briggs, the Deputy Associate Administrator for the Office of Capital Access at the SBA, provided guidance on the Economic Injury Disaster Loan Program (EIDL) as well as other initiatives available through the SBA.

Several Small Business Roundtable members lended their knowledge and perspective regarding the ongoing crisis including:

Jen Earle, the CEO of the National Association of Women's Business Owners (NAWBO),
Ron Busby, the President and CEO of U.S. Black Chambers, Inc. (USBC),
Chiling Tong, the President and CEO of Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE),
Ramiro Cavazos, the President and CEO of U.S. Hispanic Chamber of Commerce

Each expressed what they were hearing in the field from members of their organizations. Looking ahead to potential relief efforts in the future, we heard from:

Karen Kerrigan, the President and CEO of the Small Business and Entrepreneurship Council (SBE Council)
Todd McCracken, the President and CEO of the National Small Business Association (NSBA)
Keith Hall, the President and CEO of the National Association for the Self Employed (NASE),
Katie Vlietstra Wonnenberg, the Vice President for Government Relations and Public Affairs for NASE,

Each discussed the makeup of the current and expected legislative landscape moving forward.

Other Special Partners included:

Association for Enterprise Opportunity (AEO)
Association of Women’s Business Centers (AWBC)
Connected Commerce Council (3C)
International Franchise Association (IFA)
National Association of Workforce Boards (NAWB)
Women Impacting Public Policy (WIPP)

SBR Member Resources Include:

National Small Business Association Polling

Small Business & Entrepreneurship Council Insider

National Association for the Self Employed Portal

US Black Chambers, Inc. Resource Guide

National ACE Resource Guide

United States Hispanic Chamber of Commerce Resource Guide

Disability:IN Resource Guide

National Association of Women’s Business Owners Resource Portal

SBR Resource Guide

Guide to Payment Protection Program Loans at the SBA

COVID-19 Employer Resource Tracker

Small Business Roundtable Sends Letter to Congressional Leadership on Coronavirus Response

Wed, 18 Mar 2020 17:19:36 GMT

The Honorable Mitch McConnell

Majority Leader

U.S. Senate

Washington, D.C. 20510

The Honorable Charles Schumer

Minority Leader

U.S. Senate

Washington, D.C. 20510

The Honorable Nancy Pelosi

Speaker, U.S. House of Representatives

H-232, the U.S. Capitol

Washington, D.C. 20515

The Honorable Kevin McCarthy

Republican Leader, U.S. House of Representatives

H-204, the U.S. Capitol

Washington, D.C. 20515

Dear Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, Republican Leader McCarthy:

On behalf of the organizations representing this nation’s 30 million small businesses we write you today with urgent requests in response to the growing coronavirus pandemic and ensuing public health emergency. As Congress considers a stimulus package similar to during the Great Recession, we hope that small businesses will remain at the forefront of policymakers’ minds, as we are the first to feel the impact and often the last to recover.

In this current environment, our small businesses are facing unprecedented challenges, and as their voice in Washington, we are urging inclusion in any financial stimulus package the following:

Provide Direct Financial Assistance to America’s Job Creators

For businesses with demonstrated losses that are struggling to stay afloat, and to support themselves and their employees, the Small Business Administration (SBA) should make available grants that get cash and liquidity to small businesses immediately. This effort should be in addition to the numerous lending policy options discussed below and Small Business Roundtable fully supports existing SBA lending programs as part of the response package.

These funds could be used to address costs as identified in Economic Injury Disaster Loan (EIDL) program as well as cost of lost business, paid sick leave, healthcare costs and fixed expenses.

In addition, given that so many business owners self-fund using personal capital, we urge consideration of deferred mortgage payments, credit card payments and the alleviation of interest payments on outstanding debt, including student loans.

Make Capital as Accessible as Possible, as Fast as Possible, and as Cheap as Possible

In addition to the direct financial assistance, the government should move swiftly to increase the lending capabilities of both government and non-government lenders. Immediate actions that could be temporarily put in place:

Increase EIDL caps to ensure they can cover costs incurred by businesses
Ensure speedy loan deployment from government agencies, including EIDL loans under $350,000, to get capital to business owners as fast as possible
Remove barriers to non-governmental deployment of capital
For a limited period, allow SBA or Treasury to directly pay the loan costs (interest, fees) for any SBA loan products
Pull all proven levers from past crises:

Increase guarantees to SBA lenders
Strengthen Microloan Program and ensure adequate resources to support smallest businesses
Consider legislative support for Intermediary Lending Program and Community Advantage programs

If the most expeditious way to deploy capital is a new fund, we support SBA directly supplying interest-free loans to small businesses being impacted by COVID-19. Small businesses would be able to use the loans to provide employee benefits, pay wages, pay taxes, make telework arrangements, pay rent, refinance existing debt, and more.

Ensure Businesses Have Experts to Talk To

In past crises, businesses have proved resilient when receiving capital and technical assistance. For decades, SBA and Community Development Fund Institution (CDFI) programs and partners have been trusted community leaders in difficult times. We support:

Providing additional funding to CDFIs and ensuring small business elements of the fund gets directed appropriations
Provide immediate support to SBA resource partners
Allow for additional community organization to apply for grants from SBA to provide information related to COVID-19

Leverage Tax Code to Provide Immediate Liquidity

A top priority of small businesses is immediate cash and liquidity. Leveraging the tax code can be the fastest way to support small businesses:

Delay 2020 tax returns and waive all penalties for 2020
Address the Qualified Improvement Property (QIP) drafting error that would inject money to restaurant and retail impacted by this crisis
Temporary payroll tax cut for employer and employee
Refund 2019 payroll taxes for employers
Fix the Section 199A tax parity to allow for all businesses to qualify for 20% deduction
Allow for distributions from retirement accounts to avoid all penalties if used in response to COVID-19 and related economic injury

Keep Government Contracts with Small Businesses

As a buyer, the government can provide enormous support to businesses through maintaining contracting opportunities. As such, Congress should consider policies with the Administration that:

Immediately extend all small business contracts for 90 days
Add six months of eligibility to the SBA 8(a) program
Increase dollar caps on current programs for set-asides
Waive certain contracting requirements to push out new contracts
Allow contract extensions for businesses impacted by supply chain delays

Incentivize Supply Chain Continuation from Major Companies

Many businesses count America’s largest companies as their customer base. These major companies should be encouraged to keep their small businesses and supply chain active to ensure a swift recovery. As such, we support creating a tax credit for companies that meet or exceed 2019 small business contracting in 2020.

Exempt America’s Smallest Businesses from Any New Liabilities

Congress is considering a wide range of policies to respond to this public health emergency. While many of these ideas are important parts of the national response to COVID-19, new liabilities to business owners at this time of massively decreased revenue could do immediate damage. As such, we ask Congress to be thoughtful in exempting small businesses from these new requirements.

Similarly, businesses are very concerned about the determination of essential businesses. We support business closures done in the interest of national health, but the fastest return to normalcy will be when small businesses can conduct business. Should a federal determination of essential businesses be established, we urge consultation with national small business organizations.

Ensure the Self Employed are Included in Recovery

The self-employed are not eligible for unemployment protection. The federal government should immediately fund an unemployment protection fund for the self-employed and gig workers, which would allow them to draw down benefits in the event of declining income due to decreased demand for their goods or services.

Similarly, in all policy considerations we ask Congress to understand that there is no one-size-fits-all approach to our community. We are ready to assist in determining what thresholds or tiers make the most sense for individual policies.

Include Tax-Exempt Organizations in Aid Packages

Small businesses are supported by thousands of organizations that are similarly struggling during this crisis. From chambers of commerce to entrepreneurial development organization, they should be included in aid packages.

Please do not hesitate to reach out with and questions related to this letter or policies considered during response to this crisis. These are only a few of the options that could be leveraged to support America’s small businesses. Please reach out to John Stanford at john@smallbusinessroundtable.org to facilitate conversations with any of the signatories below.

Thank you to Members of Congress and their staffs in developing strong policy at such a challenging time.

Sincerely,

Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (National ACE)

Asian Pacific Islander Small Business Program

Association for Enterprise Opportunity

Association of Women’s Business Centers

California Association for Micro Enterprise Opportunity (CAMEO)

Connected Commerce Council

Disability:IN

International Franchise Association

Latino Business Action Network

National Association for the Self-Employed

National Association of Women Business Owners

National Gay & Lesbian Chamber of Commerce

National Small Business Association

NextGen Chamber of Commerce

Small Business & Entrepreneurship Council

Small Business Roundtable

United States Black Chambers, Inc.

United States Hispanic Chamber of Commerce

Women Impacting Public Policy