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In mid-March, alarmed by the devastating economic effects of the coronavirus pandemic, social-good fintech startup Propel teamed up with nonprofit GiveDirectly to pilot a program sending payments of up to $1,000 to households receiving Supplemental Nutrition Assistance Program (SNAP) benefits. Fast forward and the COVID-19 Relief Fund pilot has mushroomed into something substantially bigger with the launch of Project 100, which aims to provide $1,000 in cash directly to 100,000 families in need.
With Memorial Day on the horizon, now's the time many small companies that depend on summer business have been anticipating--and dreading--since COVID-19 lock-downs went into effect earlier this year. That's because most enterprises allowed to open by state law must grapple with just how to get their places COVID-ready--or if customers will be willing to venture back no matter what precautions they take.
Building a reliable supply chain takes time and work. And just one hitch can make the whole apparatus fall apart. So, when economies around the world shut down in March, it left most small businesses scrambling to get the material and components they needed.
For small businesses hit hard by the pandemic, negotiating a discount or more lenient terms with vendors can be the only way to stay afloat. As it happens, many landlords, suppliers, and other creditors are also scrounging around for ways to pay their own bills--so they're keenly interested in coming to a new agreement with enterprises that owe them money.
Venturing into online sales for the first time, or ramping up a small, existing e-commerce presence, is a complicated process--even more so when it needs to be done ASAP to stanch the flow of hemorrhaging profits. Still, a growing number of retailers are trying their best to turn themselves into e-commerce successes. almost overnight.
To survive in the time of COVID-19, struggling small businesses all over are looking to slash expenses. But, while the biggest cost for most is their payroll, they're reluctant to lay off employees who need that money to meet their own bills. Here are tactics companies can try to cut labor-related expenses without laying anyone off.
In 2019, after injuring himself at a college rugby match, Saumik Tiwari and his big brother Kaushik founded a startup to help people pay for medical emergencies stemming from accidents. When the pandemic hit, although the app hadn’t even officially launched, the brothers made an emergency addition.
Insights from leading asset allocators into how they form and manage top-notch staffs.
Many social enterprises target exactly those people hurt most severely by the current crisis. Here’s a round-up of emergency measures some are taking,
A year ago, Samira Far launched No. 2 to sell environmentally-friendly toilet paper. Made entirely from bamboo, in plastic-free packaging and covered in recycled paper sporting attractive prints, the product seemed to be selling steadily. Then the COVID-19 crisis hit, a national toilet paper frenzy set in and demand went through the roof.
At $502 billion in investment assets, the impact economy is now a substantial force. Still, compared to the $74 trillion in total assets under management in 2018, it's a drop in the bucket. What needs to be done to make impact investing mainstream?
Entrepreneur Hasan Zafer Elcik developed games for autistic kids when he couldn’t find anything suitable for his little brother. A Chobani and Ashoka fellow, he now has subscribers in the US, Canada and Europe.