Since our first issue in 1917, Forbes has been committed to covering success at all scales and cultivating a strong small-business community. Today, America’s more than 30 million small businesses are in a state of crisis, with over 400,000 closures since the pandemic began. And while over 75% of small businesses have needed to pivot their business model, according to American Express’ latest Business Resilience Survey, six in ten business owners have a positive outlook for the U.S. economy over the next year.
Here are some of the year’s top small business stories.
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Crony Capitalism: Why The Best-Connected Businesses Got Much Of The SBA Coronavirus Cash
The Paycheck Protection Program was meant to help struggling small businesses hit by Covid-19. Instead, a lot of the money went to those with the best relationships—not the neediest or the most deserving. My colleagues and I investigated what went wrong with Round 1 of the program and why.
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Sheryl Sandberg On Leading Through Crisis And Facebook’s Efforts To Save American Businesses
Facebook, which estimates more than 140 million businesses use its apps every month, was among the first of the major tech companies to announce a $100 million grant program for small businesses at the onset of the pandemic. Chief operating officer Sheryl Sandberg sat down with Forbes for an exclusive interview on this initiative as well as her belief that the strength she’s gained through her personal hardships—namely, the death of her husband, Dave Goldberg, five years ago—better equipped her to lead through this crisis.
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100 Black-Owned Businesses To Support
The U.S. is home to roughly 2.5 million Black-owned businesses, according to the Census Bureau, more than 90% of which are sole proprietorships. In the words of Forbes chief content officer Randall Lane, “in many ways, these business owners are the most entrepreneurial entrepreneurs: completely self-funded, self-driven and self-reliant.” Here’s a directory of 100 Black-owned businesses to support.
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Ruth Porat On Leading Through Crisis And Google’s Latest Moonshot To Rebuild The U.S. Economy—One Small Business At A Time
In her first-ever interview with Forbes, Ruth Porat, the stalwart chief financial officer of Alphabet and Google, shares the company’s latest efforts to help get America’s economy back on track with its $800 million commitment to aid small businesses and provide overall crisis relief.
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Survivors And Thrivers: 25 Small Business Standouts
The 25 small companies highlighted by our newsroom—all of which had less than $50 million in 2019 sales—found ways to successfully navigate this turbulent year, even as some of their founders coped with personal losses from Covid-19.
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