The Daily Rundown

SMB News Daily Rundown: Update for July 13

Welcome to the Small Business Rundown. Each day, we bring you stories that impact small business owners and their workforce.

drive-in-theatre

Small Business News Highlights for July 13: 

  • SBA provides $20 billion to small business through Economic Injury Disaster Loan program
  • Workplace COVID-19 lawsuits see exponential increase 
  • Five industries showing post-COVID growth

SBA closes EIDL program

“This program, built from the ground up in less than 2 weeks, assisted millions of small businesses, including non-profit organizations, sole proprietors and independent contractors, from a wide array of industries and business sectors.”

The Small Business Administration announced today that the Economic Injury Disaster Loan Advance program provided U.S. small business, nonprofits and agricultural operations $20 billion for disaster relief assistance related to the COVID-19 pandemic.

The money went to nearly 6 million small organizations that employ 30.5 million people around the country. Now that all the money that was appropriated by Congress has been disbursed, the SBA has closed the application for loan advances.  

Workplace COVID-19 lawsuits see exponential increase

“This data is a stark reminder for employers that typical best practices cannot be ignored simply because we are operating in unprecedented times.”

Labor and employment law firm Fisher Phillips recently announced that out of the almost 300 COVID-19 related lawsuits they’ve tracked, 43% were filed in June, indicating an exponential rise in the number of workers suing their employers for pandemic-related reasons. 

According to the data, the majority of the suits are related to discrimination, work from home or leave claims, followed by retaliation and unsafe working conditions claims. A number of high-profile companies have been named in these suits, serving as a warning to smaller businesses everywhere about the importance of protecting employees in the workplace and the company from liability. 

5 industries showing post-COVID growth

“With things changing so quickly, job posting data gives us the most up-to-date look at what’s going on in our economy.”

While economists continue to debate the status, shape and future of the economic recovery, a few sectors are experiencing job growth amidst the ongoing pandemic

In addition to the drive-in movie theater boom, the educational IT sector, manufacturing, telehealth, real estate and robotics have all shown signs of rebounding. 

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