Inc. Uncensored, a podcast from Inc. Magazine, puts the spotlight on entrepreneurs, small businesses, and startups, and with the coronavirus having such a major impact on the economy, they’ve turned their focus to keeping your business alive during the pandemic. On this episode, host Kevin Ryan talks with Inc.’s Editor-at-large Kimberly Weisul and reporter Cameron Albert-Deitch about the $2 trillion stimulus package: how business owners are feeling about it, who may be falling through the cracks, and what additional support we may need to advocate for. They also discuss industries that are seeing an uptick in business, what some companies are doing to stay connected to their customers, and some major changes we may see occur on the other side of this.
Kimberly breaks down some of the information about the $350 billion in small business loans that were made available by the stimulus package, as well as the additional disaster relief loans they’re eligible for, noting that the expanded unemployment benefits may change business owners’ calculus when it comes to whether or not they’re laying off their employees. On one hand, their small business loan could be forgivable up to $10,000, essentially becoming a grant, if they retain their payroll; on the other, the employees might be better off being furloughed, so they still keep their health insurance, but also apply for the additional $600 a week provided by the stimulus. There has been a lot of debate about whether the stimulus package helps big corporations too much, and small businesses too little, and Kimberly agrees, pointing out that big corporations get bailed out often with very few strings attached, while small businesses have more hurdles to overcome.
Cameron tells us about what some companies are doing to keep the lights on, relaying a conversation he had with a business owner who operates a salon consulting firm and owns two hair salons as well. Obviously his entire business has dried up, but he says he’s using his time on strategic planning and looking ahead to what his industry might look like in the future – for example, if stylists will become full-time employees rather than commission-based contractors. Other businesses, like cleaning and delivery services, are seeing an uptick in business – how are they keeping their employees safe while they carry out essential work? They also discuss concerns over paid leave, how quickly small business loans will actually be approved and paid, and share their favorite good news of the week, on this episode of Inc. Uncensored.
If you want to be sure you're listening to the podcasts everyone else is checking out, iHeartRadio has you covered. Every Monday, iHeartRadio releases a chart showing the most popular podcasts of the week. Stay up to date on what's trending by checking out the chart here. There's even a chart just for radio podcasts here, featuring all your favorite iHeartRadio personalities like Bobby Bones, Elvis Duran, Steve Harvey and dozens of others.
Photo: Getty Images