5 Ways to Leverage National Small Business Week
April 19, 2023
Small businesses are the backbone of the economy. They contribute to local communities, provide jobs, and drive innovation. National Small Business Week (April 30–May 6) offers an opportunity for small businesses to celebrate their achievements and take advantage of resources that can help them grow and thrive.
Here are some ways small businesses can take advantage of National Small Business Week:
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Attend Events: National Small Business Week is celebrated annually in May. During this week, the Small Business Administration (SBA) hosts events throughout the country to provide networking opportunities, educational resources, and guidance to small business owners. Attending these events can help you gain valuable insights and make connections with other entrepreneurs.
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Utilize Social Media: Social media is an excellent tool for promoting your business and reaching new customers. National Small Business Week is a great time to use social media platforms like Twitter, LinkedIn, Facebook, and Instagram to share your success stories, showcase your products or services, and engage with your audience. Use hashtags like #SmallBusinessWeek and #ShopSmall to connect with other small businesses and their supporters.
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Take Advantage of Resources: The SBA offers a wealth of resources for small business owners, including access to funding, mentorship programs, and training courses. During National Small Business Week, they produce a free virtual summit where you can learn new business strategies, meet other business owners and chat with industry experts.
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Host an Event: Hosting an event during National Small Business Week is a great way to promote your business and connect with your community. Consider hosting an open house, offering a special promotion, or hosting a workshop. This can help you attract new customers, build relationships with existing customers, and showcase your products or services.
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Collaborate with Other Small Businesses: Use National Small Business Week as an opportunity to collaborate with other small businesses in your community. Consider partnering with other entrepreneurs to host an event, offer a joint promotion, or share resources. Collaboration can help expand your reach, learn from others, and build valuable relationships.
National Small Business Week is a great opportunity for small businesses to celebrate their achievements and take advantage of resources that can help them grow and thrive. Click here to learn more about National Small Business Week events and resources.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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