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Coalition Roundup: December 4, 2020

As we enter the final weeks of 2020, the U.S. is currently mired in a second spike of COVID-19 cases that dwarfs anything we’ve seen to date. Yet, even amid the pandemic’s worst stretch, prospects remain uncertain for a second round of economic relief for new and small businesses.

Across the country, strong mitigation measures are returning to prevent the continued spread of the virus. With experts predicting the worst is yet to come, the winter months could prove devastating to America’s new and small business ecosystem.

As echoed by members of the Start Us Up coalition, the needs of new and small businesses remain great.

Will California’s small businesses survive another COVID-19 surge without more help?
Small Business Majority’s recent survey of 70,000 companies was highlighted in a recent Los Angeles Times article about looming business closures. According to the survey, “more than a third of owners said their businesses would not survive past mid-January without additional funding. For Black-owned and Latino-owned enterprises, the portion was 41%.”

BLUECHIP: Cummings: Barriers to starting and scaling a business in Oregon
In an op-ed for The Register Guard, Oregon RAIN’s Caroline Cummings discussed the challenges entrepreneurs are facing in Oregon, particularly around COVID-19. She shares a recent study that found “58% of the businesses did not receive any emergency funding, 23% were about to hire and could not, and more than half (55%) have experienced an average revenue loss of 51%.” She also shares solutions with a nod to America’s New Business Plan.

Managing Covid-19’s Impact On Small Businesses: A Conversation With Wisconsin State Treasurer Sarah Godlewski
In a recent blog post and Forbes contribution, Public Private Strategies’ Rhett Buttle highlights “five ways the incoming Administration can sustain Main Street economies through this crisis and lift up small businesses.” This includes: focusing on equity, making contracting more inclusive, reimagining how we move capital, compiling clearer small business and employee data, and naming a Small Business Recovery Czar.

Racial and Ethnic Inequity in SBA Lending Patterns, 2010-2020
Prosperity Now released a report on inequity in SBA lending patterns dating back to 2010. The report, which uses ZIP code-level data to show “lending in Black and Native American ZIP codes has been significantly lower than lending in majority-White ZIP codes” underscores the importance of reversing historic trends in this moment of immense need and distress.

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