Many businesses have been justifiably concerned about how to keep their businesses afloat during this time of COVID-19. The Beverly Hills Chamber of Commerce refuses to let businesses fall to the wayside. To find a solution to get businesses the cash they need now, the chamber has joined a group of over 100 chambers of commerce and business associations across the nation, the Save Small Business Coalition, to empower a path for business continuity.
Other members include the Hollywood, Culver City, Los Angeles Gay & Lesbian, Greater San Fernando Valley, and Los Angeles Area chambers of commerce.
Since its origin in March, the SSBC has been working to find a solution that will assist small businesses quickly and effectively with business continuity. It has worked with partner associations in the insurance and commercial development industries, and has now aligned efforts with the Joint Trades Coalition, led by the International Council of Shopping Centers.
The SSBC proposes the establishment of a COVID-19 Business and Employee Continuity and Recovery Fund, modeled after the 9/11 Victim Compensation Fund, that would create the framework to assist all impacted businesses regardless of size, industry or location.
Private-sector businesses would help create a streamlined process by reviewing and processing the applications from businesses seeking assistance. The hope is to use easy-to-file electronic forms and provide quick turnarounds of 15 to 30 days for applicants. This federal solution will likely require support not only of businesses across multiple industries, but it will require that local and state elected officials join SSBC in pointing toward and demanding one holistic federal solution.
The faster all of these organizations and government leaders can collaborate and work together to find a federally funded solution for small business continuity that can be dispersed immediately to small businesses, the quicker the vital heartbeat of the American economy can be saved.
For information, visit beverlyhillschamber.com.
This site uses Akismet to reduce spam. Learn how your comment data is processed.