The U.S. Small Business Administration’s new programs to help businesses stabilize during the COVID-19 pandemic have brought a number of new issues, questions and frustrations to business owners around the country. The programs were being revised almost hourly prior to their recent launch. We break down some of the frequently asked questions about the Payroll Protection Program (PPP) here.
The Economic Alliance works diligently to report in a timely manner on things like local business expansion, new business development, new and enhanced development incentives, economic news and other items of interest to our community investors and investor prospects.
Change is the universe’s default. Progress, at its best, is positive change. As we together weather the unprecedented global reverberations presented by the novel coronavirus (COVID-19) pandemic, subsequent shelter-in-place precautions, and tremendous personal and business losses, it is tempting to abandon the notion of progress. But that would be a tragic mistake.
The United Way of Kankakee and Iroquois Counties and the Community Foundation of Kankakee River Valley jointly launched the Kankakee & Iroquois Counties COVID-19 Community Response Fund to support organizations providing vital basic needs, services and resources to disproportionately impacted individuals, families and vulnerable populations in Kankakee and Iroquois counties.
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, self-employed and independent contractors, franchise owners, as well as certain non- profits and other employers.
Business strategy can be a very large and overwhelming topic for small businesses. Many believe their pursuit of survival overwrites the need to consider long-term strategy. While this may have been true in the past, it can no longer be true in the ever-changing economic landscape that we are witnessing today.
To help hospitality businesses make ends meet in the midst of the COVID-19 pandemic, the Illinois Department of Commerce has launched the Hospitality Emergency Grant Program with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes. Grant funds are available to support working capital like payroll and rent, as well as job training, retraining, and technology to support shifts in operations, like increased pick-up and delivery. Deadline to apply is April 1.
Amid the market shock of the COVID-19 novel coronavirus pandemic, Kankakee County’s small business community continues to innovate in a push toward recovery. Downtown Kankakee’s Happy Monday Coffee Roasters and local attorney and civic leader Dave Baron launched a creative collaboration March 23 that brings together the craft roaster’s custom Chiapas blend with Baron’s local mapping art.
COVID-19 has taken the world by storm, impacting our daily lives, businesses and our future. Though we all wish circumstances were different, now is an ideal time for each of us to refine our vision and business strategy. Introducing the Economic Alliance’s six-part “COVID-19 Pivot” entrepreneurial support series.
Daily updates on the COVID-19 (novel coronavirus) economic response and recovery in the Kankakee, Illinois, metropolitan statistical area
Following a year of record-setting industrial expansion, the Kankakee, Illinois, market saw some stabilization in 2019. Still, in its “Leading Metro Locations” Q4 2019 report, Area Development magazine ranked the Kankakee Metropolitan Statistical Area first in the Midwest and sixth among 399 MSAs nationwide for 5-year Economic Growth.