New York SBDC Research Network

The SBA has announced that they will be working to provide low-interest disaster relief loans to small businesses impacted by novel Coronavirus (COVID-19). Now that the President has declared a National Emergency, State and Federal governments can work together to assist businesses severely impacted by the pandemic. A statement by SBA Administrator Jovita Carranza was released on Friday, the 13th of March. You can read more about the Small Business Administration at www.SBA.gov/Coronavirus. You can read about SBA resources here:  https://www.sba.gov/disaster-assistance/coronavirus-covid-19

Small businesses are especially vulnerable to the threat of any sort of disaster and certainly, we are now getting a glimpse of just how much businesses will be affected by the Coronavirus/COVID-19 pandemic. As the spread of the disease moves quickly from continent to continent and across the country, we can see healthcare organizations and cities roll out their plan for emergencies such as this. But if there is a task that falls by the wayside for the small business owner, planning for business continuity is probably the one that falls through the cracks. Perhaps lessons learned from myriad climate disasters have prepared business owners for this new threat but if not, there is no time like the present. I've come across a few articles that offer some practical things that business owners can do to mitigate the damage.  ECONOMICS & SOCIETY How Chinese Companies Have Responded to Coronavirus by Martin Reeves , Lars Fæste , Cinthia Chen , Philipp Carlsson-Szlezak and Ke