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Protecting Your Small Business From Financial Unrest

Protecting Your Small Business From Financial Unrest
Photographer: Jasur Jiyanbaev

Female small business owners face enough challenges without the added bonus of a global pandemic. With social distancing, quarantine and the rise of Zoom, many bosses have been forced to shut down. Is there anyone looking out for these entrepreneurs? Yes. The National Women’s Business Council (NWBC) is a nonpartisan council that gives advice to the president, Congress, and the Small Business Administration. These women are working to help women business owners who are struggling in this time of the global pandemic. Shelonda Stokes, a member of NWBC and owner of the media company greiBo, chats with Bold TV about the unique challenges facing these businesses today. 

Protecting Your Small Business and Staying Afloat

When business slows down, business owners face a tough question: how do I stay afloat? You may care about your team, but they cost money. A lot of organizations have resorted to layoffs because of the pandemic. But there’s no one solution to keeping the business alive. Some business owners look to other resources to sustain their business without cutting staff. The government is offering zero-interest loans for businesses. While this money may help, you still have to pay it back. A better initial resource is grants, which are a gift you don’t have to pay back. These are all viable options, but it comes down to what the owner thinks is best in the long run.

Protecting Your Small Business

Challenges for Female Business Owners

Women business owners face other unique challenges. On top of keeping a business going, they have to homeschool their kids and run their house. Organizations such as NWBC are working to help these superhero women thrive. But the day-to-day can seem impossible. No one strategy is right, but it’s important for these boss women to keep going. Search for resources and talk with financial advisors. And check out the conversation with Stokes to learn more!

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