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HerMoney with Jean Chatzky

Ep 211: Small Businesses And Coronavirus: How To Support Entrepreneurs, And How They Can Thrive

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.71.5K Ratings

🗓️ 29 April 2020

⏱️ 34 minutes

🧾️ Download transcript

Summary

How can we help the small businesses in our lives succeed? How can entrepreneurs weather this storm? Scott Omelianuk, Editor-In-Chief of Inc. Magazine, weighs in and says we all need to remember that we are shaping the world we want to live in with our wallets. He discusses the funding from the Paycheck Protection Program (PPP) and how to apply. In Mailbag, questions from small business owners, a woman in the middle of home renovations, and a couple looking to buy a more affordable home. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to an Airwave Media Podcast.

0:04.0

I'm hopeful that this moment allows people to recognize how important small businesses

0:11.0

are in their community, how important Main Street really is not only to the value of Main Street and their quality of life,

0:18.0

the value of their home as well.

0:20.0

The fact that there are businesses employing people who live down the street are all hugely

0:26.0

important to us.

0:29.8

Her money is brought to you by Fidelity Investments.

0:32.6

Fidelity is committed to helping clients through any market conditions,

0:36.5

with financial planning and advice when you need it most.

0:39.5

Learn more at fidelity.com.

0:42.1

Her money comes to you through PRX. Hey everybody I'm Jean Chatsky.

0:53.4

Thank you so much for being with me today and for sticking with us during these tough times.

0:59.3

We know things are rough out there for millions of Americans, many of whom have lost jobs, some of whom

1:07.1

have lost loved ones, some facing tough decisions about pushing back a retirement date or keeping a business afloat.

1:15.0

I think that many of us, if not most of us, have entrepreneurs in our lives in some capacity.

1:21.0

And virtually all of the ones that I know are at least a little worried.

1:27.6

According to a special report from the U.S. Chamber of Commerce on coronavirus and small business, 54% of all small businesses report that

1:36.4

they're closed or could close in the coming weeks. That is astonishing when you

1:42.4

consider that we are a nation of small businesses and

1:48.0

many believe that their businesses might close down permanently. It's unbelievable. And when I keep looking for

1:58.2

small business advice and small business information on what's going on in the moment because you all know that this is

2:06.7

changing day by day moment by moment. I keep finding myself turning to Inc magazine. They're doing incredible content these

...

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