Fans helping fans and small business

[Tbe]

1 hour ago, MMA said:

Really good with what you are doing for your employees. I applaud that. But my only question is, if you have your own business and enough money to do what you’re doing for your employees, how the heck are you eligible for this $1200 stimulus package? 

Owning a business doesn’t make you rich. The vast majority of biz owners aren’t. Most of the money small businesses make go to their employees or related expenses. 

[MMA]

1 hour ago, Tbe said:

Owning a business doesn’t make you rich. The vast majority of biz owners aren’t. Most of the money small businesses make go to their employees or related expenses. 

Stimulus package:

single over 99k a year = $0

joint over 198k a year = $0

Im just saying, if I had a business and is able to pay all my employees even if it’s just 1 worker during this terrible time, I would probably be making a lot more than 99k a year in order for that to happen. 

[onmyown]

Well I’m in Utah an just got hit with a 5.7 earthquake last week which completely fuged my house. Try dealing with a massive flood in your house, split foundation, 6 feet of snow, employment, car troubles AND try to get help dealing with all this in the middle of a pandemic. At this point I’m just waiting to catch the virus myself.

It’s weird...as a human, I’ve come very familiar with  learned helplessness concept/feeling the last two weeks I learned about in college. At some point you just have to let go and give up. Just live. Otherwise you’re testing the limits of your sanity.

I don’t have much to offer except this cliche sentiment...for those dealing with employment issues, be grateful that’s all it is...it can always get much much worse. 

[beo]

2 minutes ago, onmyown said:

Well I’m in Utah an just got hit with a 5.7 earthquake last week which completely fuged my house. Try dealing with a massive flood in your house, split foundation, 6 feet of snow, employment, car troubles AND try to get help dealing with all this in the middle of a pandemic. At this point I’m just waiting to catch the virus myself.

It’s weird...as a human, I’ve come very familiar with  learned helplessness concept/feeling the last two weeks I learned about in college. At some point you just have to let go and give up. Just live. Otherwise you’re testing the limits of your sanity.

I don’t have much to offer except this cliche sentiment...for those dealing with employment issues, be grateful that’s all it is...it can always get much much worse. 

dang that sucks man, hope you are able to get back on your feet soon. it can indeed always get worse.

[MMA]

40 minutes ago, onmyown said:

Well I’m in Utah an just got hit with a 5.7 earthquake last week which completely fuged my house. Try dealing with a massive flood in your house, split foundation, 6 feet of snow, employment, car troubles AND try to get help dealing with all this in the middle of a pandemic. At this point I’m just waiting to catch the virus myself.

It’s weird...as a human, I’ve come very familiar with  learned helplessness concept/feeling the last two weeks I learned about in college. At some point you just have to let go and give up. Just live. Otherwise you’re testing the limits of your sanity.

I don’t have much to offer except this cliche sentiment...for those dealing with employment issues, be grateful that’s all it is...it can always get much much worse. 

Be praying for all of y’all 

[RoaringRiot]

6 hours ago, MMA said:

Stimulus package:

single over 99k a year = $0

joint over 198k a year = $0

Im just saying, if I had a business and is able to pay all my employees even if it’s just 1 worker during this terrible time, I would probably be making a lot more than 99k a year in order for that to happen. 

The business’ revenue is different than the owner’s income/salary. The business could generate $3M in revenue but the owner might have only made $30K. They’re not the same things. 

[ok2h8pep]

15 hours ago, SmokinwithWilly said:

I'm starting this in the football forum instead of somewhere else because I hope it may be able to help us as football fans. If it needs to be moved elsewhere, mods feel free. 

I'm a small business owner, and frankly, I'm feeling the effects of this shutdown pretty heavily. I'm nervous, I'm scared. I don't know what the future holds and it weighs heavily. The stimulus package won't help me much if at all. I know we're all primarily Panthers fans, except for a couple friendly guys from the Saints we love to hate. Fortunately, my company is on the essential list and I can keep working, even though I've had lots of customers cancelling service because they're nervous about what their financial future holds. It's going to be tight, but hopefully, I'll survive this. My thought was, as a small business, I know what I'm doing to keep going and was wondering what steps others were taking. My hope is that maybe we could pool knowledge and get as many of us through as possible. I don't know how many of you own small businesses, but I know I'm open to any ideas to help keep the doors open and my employees working as well as finding ways to help anyone else. Even if you don't own a small business, but saw something someone else was doing that was a really good idea, I'm listening.

So here's what I've done, maybe it helps. 

1. My employees are working, not a full 40, but I'm paying them 40. I keep track of the hours and bank them for when this is over and overtime starts back up. Then they'll get to reimburse me in time for the pay I've given. It's a little tight with margins, but I hope to make it up later.

 

 

Take advantage of the stimulus package that they should pass today.   Get a government loan to cover all employee wages  and operating expenses and there is an excellent chance that you will never have to pay that loan back.  Yeah, it's a real thing.    Will have to wait for it to pass before figuring out how to go about it.

You could, and should, come out ahead on this.   Congrats on being a good steward of your employees interest.

[Harbingers]

@SmokinwithWilly And anyone else with a small business.

This is from and geared towards the small business restaurant coalition but there’s a lot of good information about the CARE and small businesses compiled into one place. 
 

CARE ACT UPDATE

[ECUPantherFan]

10 hours ago, 4Corners said:

Hey man. Not sure what you are getting at. Hope you and your cat are doing well and are safe during this pandemic. 

“We all need to come together in this tough time.  ORANGE MAN BAD!  We are all humans and need to help each other.”

Even during times like this, your TDS is flaring up.  Might be a cream for that... Walgreens is still open.

 

[RenoCarolina]

We had to lay off 8 of 14 employees, helping them file for unemployment and hoping to bring them back soon.  For now we are still open but other than one phase our business is non essential, retail.  I would love to continue paying our employee's but our margins cannot support.  Kudo's if yours can of course.  The major fixed costs we have will wipe out payroll in 3 months even if sales remain at "only" down 60-70%.

The new bill, as far as I can tell, is a double-edged sword for small businesses.  Yes, the unemployment benefits will support our employees but it will support them so well there is concern about willingness to come back.  (can't believe I am agreeing with Lindsay Graham so looking for a way to get over this concern).  And why would they return even discounting the greater pay for staying home?  Especially if the "all clear" is a gray area which I am presuming it will be.  With the Feds tacking on $600 a week in additional benefits and additional weeks they will cash more in benefits than wages.  And yes, we pay a living wage and give a full 40.

Meanwhile we can take advantage of the loan program that converts to a grant but we have to hire everyone back, pay retroactively to 2/15 and then have them sit around with nothing to do due to pathetic sales and also jeopardize their (and our) health and quarantine status.  First, everyone would have to agree to come back.  Second, 2.5 times average payroll would buy us just under 60 days of operating safety net because of the 2/15 date.  Third, we have just begun to see government website crashes and new forms and disappearing filings.  It will get worse.  Will small businesses even see these benefits?   You know the airline and hotel industries will.

For now we are helping with our skeleton crew making deliveries of groceries and other no touch essentials  to those in the community requesting help.  We are also exploring partnering with restaurants to provide delivery of meals to hospital staff and nurses with our company vans.  That need has not manifested yet but planning helps forget about the other bills coming due.  Shutting our doors completely and/or for good is an increasing probability.

And I still can't believe we lost Cam, Luke, Greg, James and others with nothing to show for it but got a draft pick for Kyle.

[4Corners]

13 minutes ago, ECUPantherFan said:

“We all need to come together in this tough time.  ORANGE MAN BAD!  We are all humans and need to help each other.”

Even during times like this, your TDS is flaring up.  Might be a cream for that... Walgreens is still open.

 

Hey man thanks for the advice. With you being an E-Z-U student, I’m sure you are very knowledgeable about where to get creams and other ointments or medications for assorted infections. 

[Harbingers]

19 minutes ago, RenoCarolina said:

Yes, the unemployment benefits will support our employees but it will support them so well there is concern about willingness to come back.  (can't believe I am agreeing with Lindsay Graham so looking for a way to get over this concern). 

I look at this part and why Graham is wrong. Ya, they may be getting more to stay at home for a few months. But if the businesses reopen before that time is up(which is probable) those businesses will need employees.

Obviously, those businesses will want to bring back their previous employees but if they want to sit on unemployment will have to hire new employees. Which means those people on unemployment will be out of a job come the end of the stimulus. The other factor is cabin fever, a few more weeks at home and people are gonna be going crazy.  
 

I forgot two more factors; 

1) Most employees know that for the small business they worked for to survive that business will need to ramp up “production” again as soon as possible. They could for instance in NC work reduced hours and still collect unemployment.
 

2) The extra money will go back into the economy. 
 

———

Yes some employees will just ride the system. But unlike graham I don’t put prejudice it will be anywhere close to a majority. Most people out of work I know are itching to get back to work. Remember, it’s not just the money, it’s the routine for a lot of people, either subconsciously or overtly.

———

This doesn’t account for bigger service/retail industry employers and employees.

Ya, a Walmart employee might go on unemployment just to get that extra cash. But a hard working driven out of work individual will probably fill that job slot until their original job opens up again. 

[MMA]

4 hours ago, RoaringRiot said:

The business’ revenue is different than the owner’s income/salary. The business could generate $3M in revenue but the owner might have only made $30K. They’re not the same things. 

Well, you prove my point. Let’s use that for example. Let’s say OP’s business does generate $3m in revenue but he only makes $30k. He would be eligible to receive something from the stimulus package. Question is, how is he paying his employees during this time with only $30k? I’m not bashing what this post is about. I applaud that. I’m just confused.

[Scrumtrilescent]

Business revenue ($3M) does not equal his income ($30k).  When the owner files his personal tax returns, which the stimulus is based on, he claims 30k in income (minus deductions, etc.).  Thus he'd be eligible.  The $3m revenue is the business.  That goes to paying the employees, rent/capital costs, taxes, etc.  The revenue is the money their clientele pay them for whatever services they offer.