Right now, it is hard to look to the future of a world after COVID-19 has passed. But businesses need to continue, and the impact of the coronavirus will be felt by many. You will still need to make money, and people will still need services. So how are businesses across New York City looking to survive COVID?
Over the next few days, we will look at different ways that businesses can look to survive in a Coronavirus-ridden world. At a national, international, state and local level; there is a program for everyone. Today we will look at how the New York City mayor is looking to help small businesses survive.
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What is the Mayor of New York City Offering?
New York City mayor Bill de Blasio has been tested thoroughly by the chaos of the Coronavirus. While opinions are mixed (at best) on how he has handled situations, there are a number of policies that he has put forward.
1. Employee Retention Grant Program
The mayor has proposed an Employee retention grant program. This is mostly for smaller businesses in the NYC area with under five employees that face at least a 25% decrease in revenue due to COVID-19. With this program, the city will cover 40% of payroll costs for the next two months to help retain employees. You can find the application here.
2. NYC Small Business Continuity Loan Fund
For businesses with less than 100 employees that have seen a 25% decrease in revenue, this program offers zero-interest loans up to $75,000. This is to help retain employees and make sure that the business stays viable. Unlike the retention grant, this must be repaid when the business is in recovery. You can find the pre-application here.
3. Evictions in New York City
First, de Blasio has put a moratorium on NYC evictions during Coronavirus. This will affect people living in apartments and homes they rent across all five boroughs, but it also could affect small business owners. As rent takes up so much of a company’s resources, it is helpful to know that this could be useful to your small business as well. Check and see if this policy affects you on the city government’s website.
4. Healthcare workforce expansion
Workers in the healthcare industry are, understandably, exempt from many of the policies surrounding COVID quarantine, both in NYC and internationally. This will impact all kinds of healthcare workers, from nurses to doctors and beyond.
Working from home and communicating via programs like Zoom and Skype are big deals during COVID. As working from home and flexible hours become a major part of New York City’s workforce, you will see a long lingering effect from COVID. Prepare for this to become a new norm in businesses internationally if the Coronavirus closures go on long enough.
New York City and Coronavirus
I’ll be honest, I don’t know if de Blasio is doing enough to help New Yorkers and NYC during COVID. But that doesn’t mean that New York’s best resource is going anywhere – we still have each other.
Small business to small business help
We’ve talked a lot about the relationship between NYC and small businesses, and that hasn’t changed because of COVID. In fact, I would say that now is the perfect time to get to know your neighbors better. In this trying time, you can help one another out. Digitally, reach out to your fellow business owners and see what you can do to help one another. And if you are trying to figure out how to salvage your own company, as for help.
Everyone is in the same place right now. New York City is united against one enemy for the first time in almost two decades, and that enemy is Coronavirus. Working with your local business peers can only help you out equally. If you don’t believe us, watch our webinar from a few months ago about this very concept.
Small business to community help
Also worth considering is the bond between small businesses and their local community. When you interact with your community, you build a special relationship that helps everyone. Similarly, you will be best served by focusing on your current customers when things slowly return to normal. It isn’t always helpful to fight for new help. As the world recovers, you can help New York City by helping your current customers affected by Coronavirus.
The good news is that the world isn’t ending. But things are changing. Whether you’re in New York City or somewhere else in the world, these tips might help you beat the Coronavirus’s effects on business. Work with one another, and remember that I am always here to listen. Whether you’re in New York City, across the United States, or around the world just remember that Coronavirus isn’t the end of everything. Stay strong.