The Daily Rundown

SMB News Daily Rundown: Update for May 29

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

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Small Business News Highlights for May 29: 

Highlights:

  • More than 100 small businesses damaged during Minneapolis protests
  • Americans eager to support small businesses as states emerge from lockdown
  • Tips for supporting remaining employees after laying off other staff

“COVID didn’t close me, but this is going to close me.”

Over a hundred small businesses in Minneapolis have been damaged or destroyed during widespread protests in the city over the past 3 days. As people have taken to the streets to protest the death of George Floyd, some small business owners have gone so far to stand guard in front of their establishments to prevent looting. Others have put up signs noting that they are minority business owners in the hopes that it would deter vandals.

Many of the businesses were already struggling due to pandemic-related closures. A fund has been set up to help SBOs recover

“As some businesses begin to slowly and responsibly open back up, it’s encouraging to see that many Americans plan to continue to help their communities recover by supporting small, local businesses.”

A new survey from Groupon has found that Americans are feeling optimistic about the future and that they’re looking forward to supporting small businesses as states begin to ease lockdown restrictions.  

According to the survey, Americans have come to realize the big role that small businesses play in making life better for most people and plan, on average, to spend $100 more per week at small businesses than they did before the pandemic.

“Coworkers can become some of our closest friends, making work a trigger for pain. Grief doesn’t just come with sadness and loss. Grief can also come fully-loaded with guilt, anger, uncertainty, denial, regret, and so much more.” 

For employers who are forced to make the difficult decision to lay off workers, the hard part doesn’t necessarily end after letting them go. Research shows that both productivity and quality of service declines among remaining employees. 

In order to support remaining workers, experts recommend taking a beat to remember how the changes impact employee morale and to be candid with them about the situation. Open and frequent communication can also be helpful, as can helping employees reconnect with their purpose in the organization. 

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