LA-based Boulevard raises $27 million for its spa management software

Boulevard, a spa management and payment platform, has raised $27 million in a new round of funding despite a business slowdown caused by the COVID0-19 pandemic.

Founded four years ago by Matt Danna and Sean Stavropoulos, Boulevard was inspired by Stavropoulos’ inability to book a haircut and Danna’s hunch that the inability of salons and spas to cater to customers like the busy programmer could be indicative of a bigger problem.

The two spent months pounding the pavement in Los Angeles pretending to be college students doing research on the industry. They spoke with salon owners in Beverly Hills, Hollywood, and other trendy neighborhoods trying to get a sense of where software and services were falling short.

Through those months of interviews the two developed the booking management and payment platform that would become Boulevard. The inspiration was one part Shopify and one part ServiceTitan, Danna said.

The idea was that the Boulevard could build a pretty large business catering to the needs of a niche industry that hadn’t traditionally been exposed to a purpose-built toolkit for its vertical.

Investors including Index Ventures, Toba Capital, VMG Partners, Bonfire Ventures, Ludlow Ventures and BoxGroup agreed.

That could be because of the size of the industry. There’s over $250 billion spent per year across roughly 3 million businesses in the salon and spa category, according to data provided by the company. By comparison, fitness attracts roughly $34 billion in annual spending from 150,000 businesses.

“With limited access to the professionals that help us look and feel our best, I think the world has realized something that our team has always recognized: salons and spas are more than a luxury, they are essential to our well-being,” said Danna, in a statement. “We are humbled that so many businesses are placing their trust in us during such a turbulent time. This new capital will help accelerate our mission and deliver value to salons and spas that they never imagined was possible from technology.”

According to data provided by the company, Boulevard is definitely giving businesses a boost. On average, businesses increase bookings by 16%, retail revenue jumps by 18%, and gratuity paid out to stylists jumps by 24% for businesses that use Boulevard, the company said. It also reduces no-shows and cancellations, and halves time spent on the phone.  

“Boulevard is revitalizing the salon and spa industry, as evidenced by the company’s sustained 300-400% revenue growth over the last three years,” said Damir Becirovic of Index Ventures, whose firm led the company’s Series A round and has doubled down with the new capital infusion. 

Customers using the company’s software include: Chris McMillan the Salon, Heyday, MèCHE Salon, Paintbox, Sassoon Salon, SEV Laser, Spoke & Weal, and TONI&GUY.

Boulevard now has 90 employees and will look to increase that number as it continues to expand across the country.

Investors have taken a run at the spa market in the past, with company’s like MindBody valued at over $1 billion for its software services. Indeed, that company was taken private two years ago in a $1.9 billion transaction by Vista Equity Partners.

As Boulevard expands, the company may look to get deeper into financial services for the salons and spas that it’s already working with. Given the company’s window into these businesses’ financing, it’s not impossible to image a new line of business providing small business loans to these companies.

It’s something that the founders would likely not rule out. And it’s a way to provide more tools to entrepreneurs that often fall outside of the traditional sweet spot for banks and other lenders, Danna said.

 

#articles, #bonfire-ventures, #boulevard, #boxgroup, #business, #business-software, #economy, #financial-services, #laser, #los-angeles, #ludlow-ventures, #mindbody, #shopify, #small-business, #tc, #toba-capital, #vista-equity-partners

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9 Ways to Support Small Businesses

Wondering how you can help as a consumer? Here are some ideas.

#coronavirus-2019-ncov, #e-commerce, #quarantine-life-and-culture, #shopping-and-retail, #small-business, #social-media

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Biden Team, Pushing Quick Stimulus Deal, Prepares for Renewed Recession

Economists warn that lawmakers must pass aid now, as a renewed coronavirus surge chills consumer spending and business activity.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-budget-us, #house-of-representatives, #labor-and-jobs, #law-and-legislation, #presidential-transition-us, #recession-and-depression, #republican-party, #senate, #small-business, #stimulus-economic, #unemployment, #united-states-economy, #united-states-politics-and-government

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Why is GoCardless COO Carlos Gonzalez-Cadenas pivoting to become a full-time VC?

Index Ventures, a London- and San Francisco-headquartered venture capital firm that primarily invests in Europe and the U.S., recently announced its latest partner. Carlos Gonzalez-Cadenas, currently COO of London-based fintech GoCardless and previously the chief product officer of Skyscanner, will join Index in January.

Gonzalez-Cadenas is a seasoned entrepreneur and operator, but has also become a prolific angel investor in the U.K. and Europe over the last three years, making more than 50 angel investments in total. Well-regarded by founders and co-investors, his transition to a full-time role in venture capital feels like quite a natural one.

Earlier this week, TechCrunch caught up with Gonzalez-Cadenas over Zoom to learn more about his new role at Index and how he intends to source deals and support founders. Index’s latest hire also shared his insights on Europe’s venture market, describing this era as the “best moment in entrepreneurship in Europe.”

TechCrunch: Let me start by asking, why do you want to become a VC? You’re obviously a well-established entrepreneur and operator, are you sure venture capital is the career for you?

Carlos Gonzalez-Cadenas: I’ve been an angel investor for the last three years and this is something that has basically grown for me quite organically. I started doing just a handful and seeing if this is something I like and over time it has grown quite a lot and so has the number of entrepreneurs I’m partnered with. And this is something I’ve been increasingly more excited to do. So it has grown organically and something that emotionally has been getting closer and closer as time has passed.

And the things I like more specifically are: One, I’m quite a curious person, and for me, investing gives you the possibility of learning a lot about different sectors, about different entrepreneurs, different ways of building businesses, and that is something that I enjoy a lot.

The second bit is that I care a lot about helping entrepreneurs, especially the next generation of entrepreneurs, build great businesses in Europe. I’ve been very lucky, in the past, to learn from great people, like Gareth [Williams, Skyscanner co-founder] and Hiroki [Takeuchi. CEO at GoCardless], in my journey. I feel a duty of helping the next generation of entrepreneurs and sharing all the things that I’ve learnt. I care a lot about setting up founders as much as possible for success and sharing all those experiences I’ve learned [from].

These are the key two motivations that have led me to decide that it would be a great time now to move to the investing side.

How have you managed your deal flow while having a full-time job and where is that deal flow coming from?

It is typically coming in three buckets. A part of it is coming from my entrepreneur and operator network. So there are entrepreneurs and operators I know that are referring other entrepreneurs to me. Another bucket is other investors that I typically co-invest with. Another bucket is venture capitalists. I basically tend to invest quite a lot with VCs and in some cases they are referring deals to me.

In terms of managing it alongside GoCardless, it takes quite a lot of effort. It requires a lot of dedication and time invested during evenings and weekends.

The good thing is that my network typically tends to send me quite highly curated deals so essentially the deal flow I have luckily tends to be quite high quality, which makes things a bit more manageable. But don’t get me wrong, it still takes quite a lot of effort even if the deal flow is relatively high quality.

Presumably you haven’t been able to be all that hands-on as an angel investor, so how are you going to make that transition and what is it that you think you bring with the operational side to venture?

The way I think about this is, the entrepreneurs I typically invest in and their companies tend to be quite capable in their day-to-day perspective. Where they tend to find more value in interactions with me is what I call the “moments of truth.” Those key decisions, those key points in the journey where essentially it can influence the trajectory of the business in a fundamental way. It could be things like, I am fundraising and I don’t know how to position the business. Or I’m thinking about my strategy for the next 18 months and I will basically welcome an experienced person giving me a qualified opinion.

Or I have a big people problem and I don’t know how to solve that problem and I need that third person who has been in my shoes before. Or it could be that I’m thinking about how to organize my team as I move from startup to scale-up and I need help from someone who has scaled teams before. Or could be that I’m hiring three executives and I don’t know what a great CMO looks like. It’s those high-impact, high-leverage questions that the entrepreneurs tend to find helpful engaging with me, as opposed to very detailed day-to-day things that most of the entrepreneurs I work with tend to be quite capable of doing. And so far that model is working. The other thing is that the model is quite scalable because you are engaging 2-3 times per year but those times are high quality and highly impactful for the entrepreneur.

I typically also tend to have pretty regular and frequent communication with entrepreneurs on Slack. It’s more like quick questions that can be solved, and I tend to get quite a lot of that. So I think it’s that bimodel approach of high-frequency questions that we can solve by asynchronous means or high-impact moments a few times per year where, essentially, we need to sit down and we need to think together deeply about the problem.

And I tend to do nothing in the middle, where essentially, it’s stuff that is not so impactful but takes a huge amount of time for everyone, that doesn’t tend to be the most effective way of helping entrepreneurs. Obviously, I’m guided by what entrepreneurs want from perspective, so I’m always training the models in response to what they need.

#artificial-intelligence, #carlos-gonzalez-cadenas, #entrepreneurship, #europe, #london, #machine-learning, #small-business, #startups, #tc, #venture-capital

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For Small-Business Owners, a Shifting Landscape of Resources

With the end of the Paycheck Protection Program loan program, entrepreneurs are forced to look elsewhere.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #federal-aid-us, #nonprofit-organizations, #small-business

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Readers Have Been Eagerly Waiting for Barack Obama’s New Memoir. Struggling Booksellers Have, Too.

“A Promised Land” is a potential lifeline for booksellers whose sales have plummeted during the pandemic.

#a-promised-land-book, #book-trade-and-publishing, #books-and-literature, #coronavirus-2019-ncov, #obama-barack, #presidents-and-presidency-us, #shopping-and-retail, #shutdowns-institutional, #small-business

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Uneasy Under Lockdown, Pubs in England Count the Days Till Christmas

In October, pubs had a new pitch to lure in customers: They became work spaces. Less than a month later, they were forced to shut again. Now, they hold out hope for December.

#coronavirus-2019-ncov, #curfews, #greene-king-plc, #restaurants, #shutdowns-institutional, #small-business

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Uneasy Under Coronavirus Lockdown, Pubs in England Count Days Till Christmas

In October, pubs had a new pitch to lure in customers: They became work spaces. Less than a month later, they were forced to shut again. Now, they hold out hope for December.

#coronavirus-2019-ncov, #curfews, #greene-king-plc, #restaurants, #shutdowns-institutional, #small-business

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Fed Holds Rates Steady and Signals Continued Wariness

The Federal Reserve made few changes to its policy statement during a week fraught with uncertainty.

#coronavirus-2019-ncov, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #interest-rates, #labor-and-jobs, #small-business, #unemployment, #united-states-economy

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‘It’s Going Away’: A Small Movie Theater Struggles to Survive

The pandemic has staggered the industry and left independent operations like the Park Plaza Cinema in Hilton Head Island, S.C., fighting to stay afloat.

#coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #movies, #quarantine-life-and-culture, #small-business

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California Tax Revolt Faces a Retreat, 40 Years Later

Proposition 13 in 1978 curbed property tax increases. Now voters may strip protection for commercial buildings, helping hard-hit local budgets.

#budgets-and-budgeting, #california, #coronavirus-2019-ncov, #jarvis-howard-1903-86, #landlords, #local-government, #political-advertising, #property-taxes, #real-estate-commercial, #real-estate-and-housing-residential, #recession-and-depression, #referendums, #small-business

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Astor Place Cut Hair for Warhol and De Niro, but Won’t Survive the Pandemic

Astor Place Hairstylists has been a beacon of cool for decades, but the virus devastated its business.

#astor-place-manhattan-ny, #astor-place-hairstylists, #barbers-and-barbering, #coronavirus-2019-ncov, #de-blasio-bill, #hair, #shutdowns-institutional, #small-business

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Mask Mandate? In a Montana Town, It ‘Puts Us at Odds With Customers’

In Hamilton, business owners are walking a tightrope between keeping people safe from the coronavirus and not driving them away.

#coronavirus-2019-ncov, #coronavirus-risks-and-safety-concerns, #hamilton-mont, #labor-and-jobs, #masks, #montana, #restaurants, #small-business

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‘It’s Fall! Here We Are!’ A Beloved Chocolate Shop Returns

Lee Sims in Jersey City made it through the shutdown thanks to ingenuity and customer loyalty. It’s back just in time for the busiest season.

#chocolate, #coronavirus-2019-ncov, #family-business, #jersey-city-nj, #shopping-and-retail, #small-business

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As They Became Seniors, They Started Businesses for Them

After working for others, some Americans find opportunities in working for themselves — while catering to people growing older.

#age-chronological, #content-type-service, #elderly, #entrepreneurship, #longevity, #retirement, #small-business

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How to Support Independent Restaurants

As the weather gets colder in many places, mom-and-pop establishments are under even more strain. You can take some simple steps to help them survive.

#content-type-service, #gift-cards-and-certificates, #gofundme, #quarantine-life-and-culture, #restaurants, #shutdowns-institutional, #small-business

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Small-Business Loans Will Be Forgiven, but Don’t Ask How

Owners are flummoxed by how the loan forgiveness phase of the Paycheck Protection Program will work, as lenders await clarity and guidance.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #small-business, #small-business-administration, #treasury-department

0

Trump Is Killing the Economy Out of Spite

So what will he do if he loses the election?

#federal-state-relations-us, #local-government, #presidential-election-of-2020, #senate, #small-business, #trump-donald-j, #unemployment, #united-states-economy, #united-states-politics-and-government

0

New Stimulus Hopes Fade While Economic Risks Grow

President Trump cut off negotiations over a new aid package on Tuesday. Economists of all stripes agree that could be a costly mistake.

#coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #federal-taxes-us, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #republican-party, #small-business, #stimulus-economic, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Lumberjack, Tailor, Counselor, Host: A Hotel Owner Does It All During the Pandemic

The head of a family business is trying to keep eight hotel properties afloat despite fewer travelers and worried lenders. He may not succeed.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-aid-us, #hotels-and-travel-lodgings, #montu-patel, #small-business, #travel-and-vacations

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How a Small California Bar Battled to Survive the Coronavirus

We chart the trials of a tavern in Oakland, Calif., that was thriving until the pandemic brought economic and emotional turmoil.

#bars-and-nightclubs, #hatch-oakland-calif-bar, #kachingwe-louwenda, #oakland-calif, #shutdowns-institutional, #small-business

0

‘I Love New York’ Is More Than a Motto

As retail chains abandon Manhattan, New Yorkers can rebuild a city that is more hospitable to its small businesses.

#coronavirus-2019-ncov, #e-commerce, #manhattan-nyc, #new-york-city, #renting-and-leasing-real-estate, #shopping-and-retail, #shutdowns-institutional, #small-business, #zoning

0

Workers Face Looming Cutoffs in Health Insurance

Coverage is a major expense for employers, especially those in small businesses, as they deal with the pandemic’s economic fallout. Many may face end-of-year renewal deadlines that are harder and harder to afford.

#coronavirus-2019-ncov, #federal-aid-us, #health-insurance-and-managed-care, #layoffs-and-job-reductions, #patient-protection-and-affordable-care-act-2010, #small-business, #supreme-court-us, #your-feed-healthcare

0

As Covid-19 Looms, Some Workers Face Loss of Health Insurance

Coverage is a major expense for employers, especially those in small businesses, as they deal with the pandemic’s economic fallout. Many may face end-of-year renewal deadlines that are harder and harder to afford.

#coronavirus-2019-ncov, #federal-aid-us, #health-insurance-and-managed-care, #layoffs-and-job-reductions, #patient-protection-and-affordable-care-act-2010, #small-business, #supreme-court-us, #your-feed-healthcare

0

Unable to Pay Rent, Small Businesses Hope for a Deal With Their Landlord

Months of pandemic-related closures have left many business owners too deeply in debt to survive without concessions or deferrals.

#abs-partners-real-estate, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #credit-and-debt, #garrett-harker, #ken-giddon, #landlords, #orangetheory-fitness, #renting-and-leasing-real-estate, #restaurants, #schenker-gregg-l, #shopping-and-retail, #shutdowns-institutional, #small-business

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Facebook launches Facebook Business Suite, an app for managing business accounts across Facebook, Instagram and Messenger

Facebook this morning launched a new app designed to make it easier for businesses to manage their pages and profiles across Facebook, Instagram and Messenger in a single place. The app, Facebook Business Suite, combines access to the business’s key updates and priorities, and offers a way to draft and schedule feed posts for both Facebook and Instagram, view insights and create ads.

To use the new app, business will first need to link their Facebook and Instagram business accounts, if they hadn’t already.

Once logged into Facebook, the Business Suite can be accessed on the desktop at business.facebook.com. On mobile, users of the existing Pages Manager App will see an option to join Business Suite instead. The app will also become available as a standalone download for both iOS and Android.

Image Credits: Facebook

Inside Business Suite, business owners will be able to see critical alerts, messages, comments and other activity taking place across Facebook and Instagram right in the new app’s homescreen. They can also set up personalized saved replies here, in order to respond to common customer inquiries.

The app offers tools for creating feed posts for Facebook and Instagram, scheduling posts, and provides insights on what’s working. Here, businesses can view their posts’ reach, engagement and performance across both Facebook and Instagram. They can also choose to create an ad to help boost that engagement and grow their audience, if needed.

Facebook says it’s initially building Facebook Business Suite with the needs of small businesses first, as so many have been forced by the pandemic to find new ways to reach customers and sell online. However, the long-term plan is to build out a set of tools that can be used by all businesses, including larger ones. The company aims to address that market sometime next year. Business Suite will also expand to include WhatsApp in the future.

Related to the news, Facebook published two surveys offering insights on small business trends. One, the monthly Global State of Small Business Report, produced in partnership with the World Bank and OECD, found that businesses that make more than 25% of sales online are more likely to be reporting higher sales this year, and are less likely to have laid off employees.

A second study details the impact of COVID-19 on consumer purchasing patterns and use of digital tools. Nearly half of respondents said they spent more money online overall since the outbreak, and 40% increased their use of social media and online messaging for product and business recommendations, Facebook says.

Of course, these fairly upbeat reports on the state of small businesses in the midst of the pandemic don’t provide the full picture. In the U.S., for example, Yelp is reporting that 60% of the U.S. businesses that closed due to COVID-19 won’t be re-opening. As of August, 163,735 of U.S. businesses have closed since the start of the pandemic, the report said, up 23% since mid-July.

These closures could impact Facebook as well, as the majority of Facebook’s advertisers are small and medium-sized businesses. But Facebook’s global nature protects it. Even if the U.S. loses more small businesses due to its mishandling of the pandemic, there are far more advertisers are outside the U.S. that Facebook taps into.

Facebook says the Business Suite will gradually roll out during the month of September. The app joins several others Facebook offers today for its business customers, including Facebook Pages Manager, Facebook Analytics, and Facebook Ads Manager. However, Facebook notes that its new Business Suite isn’t currently designed to serve those who use Ads Manager.

#advertising, #apps, #business, #businesses, #facebook, #marketing, #small-business, #social, #social-media

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Justice Dept. Announces Dozens of Fraud Charges in Small-Business Aid Program

Fifty-seven people were charged with trying to steal more than $175 million from the Paycheck Protection Program, law enforcement officials said.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #frauds-and-swindling, #jpmorgan-chasecompany, #justice-department, #small-business, #small-business-administration, #stimulus-economic, #united-states-politics-and-government

0

London Offices Aren’t Refilling Fast Enough for Shops Relying on Them

The British government and business lobby want workers to return to support surrounding businesses, but some city offices are only 15 percent full.

#coronavirus-2019-ncov, #dentons-llp, #economic-conditions-and-trends, #goldman-sachs-group-inc, #great-britain, #london-england, #quarantines, #real-estate-commercial, #schroders, #shopping-and-retail, #small-business, #telecommuting

0

Drag Queens Deliver Dinner and a Show in San Francisco

Oasis, a cabaret and nightclub, closed in March because of the coronavirus pandemic. Now its drag queens are bringing food and a curbside performance to people’s front doors.

#bars-and-nightclubs, #homosexuality-and-bisexuality, #san-francisco-calif, #small-business

0

‘That Kept Us Going’: Small Businesses Stay Alive With Local Help

Cities big and small know they can’t rely on federal stimulus to support their entrepreneurs, so they are finding innovative ways to keep them afloat.

#akron-ohio, #buyers-giovy, #charlotte-nc, #coronavirus-aid-relief-and-economic-security-act-2020, #dean-charity, #detroit-mich, #federal-aid-us, #labor-and-jobs, #lewis-pam, #marshall-nya, #metropolitan-policy-program-brookings-institution, #new-economy-initiative, #parilla-joseph, #philanthropy, #small-business, #united-states-economy

0

How to Avoid a Post-Recession Feeding Frenzy by Private Developers

Using land trusts and land banks to develop distressed properties creates growth and equity.

#city-council-nyc, #coronavirus-2019-ncov, #foreclosures, #land-use-policies, #mitchell-lama-projects, #real-estate-commercial, #real-estate-and-housing-residential, #renting-and-leasing-real-estate, #small-business, #subprime-mortgage-crisis, #tax-credits-deductions-and-exemptions

0

Mnuchin Says Economy Is Recovering but ‘More Work’ Is Needed to Alleviate Pain

The Treasury secretary’s House testimony, combined with renewed stimulus discussions among Republicans, highlighted divisions over how big an economic package should be.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #house-of-representatives, #mnuchin-steven-t, #recession-and-depression, #senate, #small-business, #stimulus-economic, #treasury-department, #unemployment, #united-states-economy, #united-states-politics-and-government

0

Small-Business Failures Loom as Federal Aid Dries Up

Many owners face tough choices after a federal loan program and other government moves to bolster the economy have run their course.

#bankruptcies, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #shutdowns-institutional, #small-business, #stimulus-economic, #united-states-economy

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Spotting $62 Million in Alleged P.P.P. Fraud Was the Easy Part

Investigators have charged big spenders with cheating the Paycheck Protection Program for small businesses. But more fraud lies below the surface, and it’ll be harder to find.

#federal-aid-us, #frauds-and-swindling, #inspectors-general, #paycheck-protection-program, #small-business, #small-business-administration, #treasury-department

0

These 6 Businesses Have Survived the Depression, War and Now the Pandemic

From a Staten Island bakery to a boiler factory in Queens, these mom and pops, all over 100 years old, having staying power.

#c-o-bigelow-apothecaries, #coronavirus-2019-ncov, #family-business, #holtermanns-bakery-staten-island-ny, #new-york-city, #quarantines, #richfield-farms-clifton-nj, #sahadis, #shopping-and-retail, #small-business, #sussman-automatic-corp, #teitel-brothers

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Why N.Y.C.’s Future May Hinge on Businesses Outside Manhattan

The four other boroughs, hit hard by the pandemic, have increasingly played a crucial role in the city’s expanding economy.

#alliance-for-downtown-new-york, #center-for-an-urban-future, #coronavirus-2019-ncov, #downtown-brooklyn-partnership, #economic-conditions-and-trends, #new-school, #new-york-city, #shopping-and-retail, #small-business

0

Want to Make It Big in Fashion? Think Small

In just five years, Evan Kinori has drawn a passionate international following with his meticulous workwear and small-is-beautiful ethos.

#fashion-and-apparel, #kinori-evan, #san-francisco-bay-area-calif, #shopping-and-retail, #small-business

0

A Century-Old Moving Company Says the Summer of Covid Is ‘Insane’

‘Point a finger on a map, people are moving there.’

#coronavirus-2019-ncov, #family-business, #flatbush-brooklyn-ny, #flatbush-moving-van-co-inc, #moving-and-moving-industry, #new-york-city, #quarantines, #small-business

0

Retail Chains and Small Businesses Are Struggling in N.Y.C.

Since March, more than 2,800 businesses in the city have permanently closed, and others are barely holding on. Even national chains are leaving.

#automobiles, #bank-street-bookstore-manhattan-ny, #bryant-park-grill, #coronavirus-2019-ncov, #coronavirus-reopenings, #de-blasio-bill, #new-york-city, #shopping-and-retail, #small-business

0

Administration Officials Defend Executive Action on Pandemic Relief

Democrats criticized President Trump’s directives and called on top administration officials to resume talks over a broader agreement.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #executive-orders-and-memorandums, #federal-aid-us, #federal-budget-us, #federal-taxes-us, #house-of-representatives, #kudlow-lawrence-a, #labor-and-jobs, #mnuchin-steven-t, #payroll-tax, #pelosi-nancy, #schumer-charles-e, #senate, #small-business, #stimulus-economic, #treasury-department, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

0

Oversight Member Blasts the Fed’s Efforts to Rescue Main Street

The Federal Reserve president leading the Main Street lending program testified before a congressional commission, as one member labeled it a “failure.”

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #mnuchin-steven-t, #powell-jerome-h, #ramamurti-bharat, #rosengren-eric-s, #small-business, #treasury-department, #united-states-economy

0

Abolish the Police? Those Who Survived the Chaos in Seattle Aren’t So Sure

What is it like when a city abandons a neighborhood and the police vanish? Business owners describe a harrowing experience of calling for help and being left all alone.

#black-lives-matter-movement, #durkan-jenny-a, #george-floyd-protests-2020, #police-reform, #seattle-wash, #small-business

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Amid Dire Jobless Numbers, Small-Business Relief Program Nears End

The Paycheck Protection Program provided respite for hard-hit small businesses, but it is ending soon. With no word on further government help, owners worry about their fate.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #layoffs-and-job-reductions, #small-business, #small-business-administration, #united-states-economy

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Small Businesses Got Emergency Loans, but Not What They Expected

The S.B.A.’s disaster relief program allows for loans of up to $2 million. But now they’re capped at $150,000 — and agency officials are saying little about why.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #small-business, #small-business-administration, #united-states-politics-and-government

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One-Third of New York’s Small Businesses May Be Gone Forever

Small-business owners said they have exhausted federal and local assistance and see no end in sight after months of sharp revenue drops. Now, many are closing their shops and restaurants for good.

#economic-conditions-and-trends, #landlords, #new-york-city, #restaurants, #small-business, #stimulus-economic, #unemployment

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U.S. Small Business Bailout Money Flowed to Chinese-Owned Companies

Millions of dollars of Paycheck Protection Program loans went to China-backed businesses in critical sectors, a study found.

#china, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #corporations, #economic-conditions-and-trends, #embargoes-and-sanctions, #horizon-advisory, #law-and-legislation, #small-business, #social-media, #stimulus-economic, #treasury-department, #trump-donald-j, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government

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More Than 1,000 Companies Boycotted Facebook. Did It Work?

Major advertisers on Facebook reduced their spending by millions of dollars in July, but not enough to significantly damage the platform’s revenue.

#advertising-and-marketing, #allengerritsen, #boycotts, #civil-rights-and-liberties, #facebook-inc, #hate-speech, #media, #online-advertising, #small-business, #social-media, #zuckerberg-mark-e

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Record Low for U.S. G.D.P. as Coronavirus Takes Huge Toll

The second-quarter contraction set a grim record, and it would have been worse without government aid that is expiring.

#commerce-department, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #gross-domestic-product, #labor-and-jobs, #recession-and-depression, #shutdowns-institutional, #small-business, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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‘This Is About Justice’: Biden Ties Economic Revival to Racial Equity

In the last of four proposals laying out his vision for economic recovery, Joseph R. Biden Jr. pledged to lift up minority-owned businesses and to award them more federal contracts.

#biden-joseph-r-jr, #black-people, #minorities, #presidential-election-of-2020, #small-business, #speeches-and-statements, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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How to Open a Top-Tier Restaurant in a Pandemic? Rethink Everything

This one, Ever, debuts Tuesday in Chicago with a pricey tasting menu and a world-class chef. But on the road to its opening, lofty visions have met hard reality.

#chefs, #chicago-ill, #coronavirus-risks-and-safety-concerns, #duffy-curtis, #ever-chicago-ill-restaurant, #muser-michael, #quarantine-life-and-culture, #restaurants, #small-business

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