Small businesses will need more than the Paycheck Protection Program to bounce back stronger from ... [+] COVID-19. The PPP needs fixing: in particular, small business owners are pushing for more time and flexibility in spending their loans. According to the recent Facebook and Small Business Roundtable State of Small Business Report, nearly half of small business owners feel burned out trying to take care of business and household responsibilities at the same time (and women owners reported this at higher rates than men). Given the importance of small businesses coming out of the COVID-19 recession, we must lower the barrier to entry for small business ownership. Policymakers must consult with small business stakeholders to ensure that the next phase of relief goes hand-in-hand with the proposals above, and anything else that small businesses need to survive this crisis.

Source: Forbes June 02, 2020 15:55 UTC