By Celeste Beatty
There’s arguably nothing extra American than beginning a enterprise. The liberty to take an thought, create one thing new, watch it develop and evolve and hopefully at some point construct a greater life for your self and your loved ones are on the core of the American Dream.
Because the proprietor of a small enterprise in Rocky Mount, I do know that earlier than any enterprise will get off the bottom, and definitely earlier than it makes cash, it’s vital to evaluate the alternatives and dangers, and develop a marketing strategy that’s versatile sufficient to vary. However there’s one issue that I by no means thought I’d have to think about: the president of the US mismanaging a pandemic and leaving small companies to fend for themselves.
The pandemic has been devastating for small companies across the nation. In North Carolina, between January and August, 12.4% of the state’s 930,000 small companies closed. Our state’s unemployment charge at the moment sits at 7.3% — double what it was firstly of the yr.
The factor that infuriates me and the small enterprise homeowners I converse with is that President Trump has failed to guard the nation as a result of he’s didn’t plan. And, eight months into the pandemic, after greater than 260,000 circumstances in North Carolina and 4,200 deaths, he nonetheless has no plan.
In March, Congress handed the Paycheck Safety Program into regulation, however many companies like mine had been unable to entry that help. And for individuals who did, the method was chaotic and poorly managed. Recognizing the necessity for fixes to the PPP and better stimulus for struggling staff and households, the Democratic Home of Representatives handed the HEROES Act in Could. Since then, the president and Republicans in Congress have constantly opposed further reduction measures that might have stored extra individuals employed and prevented companies from closing for good.
Even earlier than the pandemic, President Trump failed the small enterprise group. Early this yr, he submitted his annual funds proposal asking Congress to slash greater than $200 million from applications that help Primary Road. Trump additionally tried to remove the Minority Enterprise Improvement Company, which is the one federal company targeted on the event and progress of minority-owned companies.
Gov. Roy Cooper and native officers are doing their finest to restrict the virus’ unfold and help small companies like mine, however we nonetheless want a coordinated federal plan — one that features further help for small companies which have run out of PPP funding or had been by no means awarded the funds in any respect.
I’m voting for Joe Biden on this yr’s election as a result of he has a plan to beat COVID-19. He’s referred to as for a real small enterprise fund to repair what’s damaged within the present PPP program and make sure the funding goes to the small companies that want it essentially the most.
He would improve entry to capital by creating a brand new $50 billion small enterprise alternative initiative, offering $100 billion in low-interest loans, strengthening community-based monetary establishments and guaranteeing tax credit everlasting. For minority and women-owned companies, Biden exhibits his deep dedication to racial and gender fairness by eliminating obstacles to technical help and making an historic $400 million funding and dedication to equalizing federal procurement.
Small companies are on the coronary heart of most communities and the muse of our native economies. They’re additionally an expression of who we’re as Individuals and the values we maintain expensive: freedom, alternative and prosperity. If we need to survive this public well being disaster and emerge stronger, we want a frontrunner who really has our again. That chief is Joe Biden.
Celeste Beatty is the founder and proprietor of a brewery in Rocky Mount.