Small Business Resources
As this period of self-isolation begins, we are acutely aware that in addition to the burden of carrying for their families health; thousands of local entrepreneurs face additional layers of stress, including maintaining the financial health of their business and their staff during these uncertain times.
While larger firms may have resources to sustain prolonged business shortages, local businesses often operate with very tight margins and very limited long term resources. Estimates say that Downtown Boston restaurants may lose over 40% of their revenue with the students gone. Greater Lowell businesses may experience similar levels of business decline. For most small businesses, a 40% decrease, even for a short period, can mean the difference between sustainability and closure.
Also, in most cases, entrepreneurs do not have access to safety-nets that many of us take for granted, like unemployment and paid sick time. The government may take efforts to mitigate these challenges, but the local consumer community can also make a difference.
Here are few simple ways that we can support our local entrepreneurial heroes, both to express our commitment to them as well as to honor the role they play in providing jobs to our friends, family and neighbors.
With immense gratitude
- Entrepreneurship Center Staff
Si necesitas asistencia en español, contactar Karla Velis a
Last but not least…
If you need immediate support to apply for a microloan locally or don’t meet the requirements for this fund, don’t be alarmed; the Entrepreneurship Center will be available virtually for loans with small businesses and you can contact KellyAnne at firstname.lastname@example.org
or if you need any assistance in Spanish at