Leveraging Government Support for Small Business Recovery

References

[1] Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E. L., Luca, M., & Stanton, C. T. (2020). The impact of COVID-19 on small business outcomes and expectations. Proceedings of the National Academy of Sciences, 117(30), 17656-17666.

[2] California Office of the Small Business Advocate. (2021). California Small Business COVID-19 Relief Grant Program. California Governor's Office of Business and Economic Development. Retrieved from https://business.ca.gov/coronavirus-2019

[3] California Office of the Small Business Advocate. (2021). California Small Business COVID-19 Relief Grant Program. California Governor's Office of Business and Economic Development. Retrieved from https://business.ca.gov/coronavirus-2019

[4] Casselman, B., & Cohen, P. (2020). Nearly 100,000 establishments that temporarily shut down are now out of business. The New York Times. Retrieved from https://www.nytimes.com/2020/09/28/business/economy/small-businesses-coronavirus.html

[5] Decker, R., Haltiwanger, J., Jarmin, R. S., & Miranda, J. (2014). The Role of Entrepreneurship in US Job Creation and Economic Dynamism. Journal of Economic Perspectives, 28(3), 3-24.

[6] Fairlie, R. W. (2020). The Impact of COVID-19 on Small Business Owners: Evidence from the First Three Months After Widespread Social-Distancing Restrictions. Journal of Economics & Management Strategy, 29(4), 727-740.

[7] Federal Reserve. (2020). Main Street Lending Program. Board of Governors of the Federal Reserve System. Retrieved from https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm

[8] Federal Reserve. (2020). Main Street Lending Program. Board of Governors of the Federal Reserve System. Retrieved from https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm

[9] US Census Bureau. (2021). Small Business Statistics. Annual Survey of Entrepreneurs*. Retrieved from https://www.census.gov/programs-surveys/ase.html

[10] US Department of the Treasury. (2021). Paycheck Protection Program (PPP) Report. US Treasury Department. Retrieved from https://home.treasury.gov/system/files/136/PPP-Results.pdf

[11] US Department of the Treasury. (2021). Paycheck Protection Program (PPP) Report. US Treasury Department. Retrieved from https://home.treasury.gov/system/files/136/PPP-Results.pdf

[12] US Small Business Administration. (2020). Small Business Employment Dynamics. SBA Office of Advocacy. Retrieved from https://advocacy.sba.gov/2020/04/24/covid-19-small-business-employment

[13] US Small Business Administration. (2021). Economic Injury Disaster Loans (EIDL) Report. SBA Office of Disaster Assistance. Retrieved from https://www.sba.gov/funding-programs/disaster-assistance/economic-injury-disaster-loans

[14] US Small Business Administration. (2021). Economic Injury Disaster Loans (EIDL) Report. SBA Office of Disaster Assistance. Retrieved from https://www.sba.gov/funding-programs/disaster-assistance/economic-injury-disaster-loans

[15] US Small Business Administration. (2021). Paycheck Protection Program (PPP) Report. US Treasury Department. Retrieved from https://home.treasury.gov/system/files/136/PPP-Results.pdf

[16] US Small Business Administration. (2021). Paycheck Protection Program (PPP) Report. US Treasury Department. Retrieved from https://home.treasury.gov/system/files/136/PPP-Results.pdf

[17] US Small Business Administration. (2021). Small Business Economic Impact. Office of Advocacy. Retrieved from https://advocacy.sba.gov/2021/01/15/small-business-economic-impact

[18] US Small Business Administration. (2021). Small Business Economic Impact. Office of Advocacy. Retrieved from https://advocacy.sba.gov/2021/01/15/small-business-economic-impact

@article{1705993,
      author = {Ifeoluwa Oyeyipo},
      title = {Leveraging Government Support for Small Business Recovery},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {1},
      pages = {1-8},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1705993.pdf},
      abstract = {The COVID-19 pandemic's global impact on small businesses (SMBs) has been widely documented, with the United States experiencing a significant disruption to its economy. Widespread closures, job losses, and revenue decline characterized this period, leaving many businesses struggling to recover. This research investigates the role of government support programs in facilitating the post-pandemic recovery of SMBs within the United States. Specifically, we examine the impact of federal initiatives such as the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL), alongside state-level programs, in aiding these crucial economic actors. This article further examines these support programs, detailing their purpose, benefits, and application process. Through case studies of businesses from diverse industries, it highlights how effective utilization of these programs enable job retention, business adaptation, and revenue growth. Despite the successes, ongoing challenges such as financial hardships and supply chain disruptions persist. The article discusses opportunities for further government support, emphasizing the need for additional funding, extended loan forgiveness, and targeted assistance. By instituting a supportive environment, these programs can promote long-term sustainability and growth for small businesses. Continued government support is essential for a larger and inclusive economic recovery that will ensure resilience against future economic shocks.},
      keywords = {COVID-19, small businesses, government support programs, Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), business recovery, job retention, economic resilience.},
      month = {July},
  }