COVID-19 has been a challenge for all of us. As the world shut down the economy came to a halt, leaving the future of many businesses in a precarious position. As we begin to find normalcy again, businesses now have to focus on recovering and fortunately, several government programs are easing this process.
One such program is the Employee Retention Credit or ERC, which is a generous stimulus program designed to bolster those businesses that we’re able to retain their employees during this challenging time. Due to the extremely complex tax code and qualifications, it is severely underutilized. Details of the program include:
Shanté is a small business ambassador and advocate who has spent the last 8 years focused on helping businesses wealth and legacy.
She gained a global following and recognition for helping thousands of businesses access relief programs and other funding to rise above the COVID-19 pandemic. She continues to use her She Boss Talk platform to educate, empower and equip businesses to access stimulus relief and capital they need to pivot and scale.
In addition, she recently added the benefit of helping small businesses across the United States apply for the ERC tax credit. She has helped thousands of businesses receive over $200 million in Federal, State and local stimulus and grants. She founded the She Boss Up Grant Program in 2020 to provide financial assistance to women business owners, which is now in its third year.
1. Revenue Reduction: You DO NOT need to qualify with the revenue reduction. If you have increased revenue, you can choose one of the other options. Just answer “no”, or “does not apply” until you get to the section that suits your business.
2. Supply Chain Disruption: Supply Chain Disruption can be anything from delayed supplies, changes in product, change in packaging, etc.
3. Full/Partial Closure: Full/Partial Closure includes limited capacity in your business, change in hours that impacted your business, social distancing and full or partial closures for any period of time. Most businesses were affected this way.
Please make sure you choose the option that best suits you.