Tag: Owners

Posted in Finance

Business owners and politicians call for financial support for Melbourne’s businesses

Sacha Koffman, co-founder of startup Build Labour. Source: supplied.

Daniel Andrews’ extension of metropolitan Melbourne’s stage four lockdown, and the reopening roadmap unveiled last weekend, mean many businesses won’t be able to trade as normal until the end of November.

And that’s in a best-case scenario.

Since Sunday’s announcement, there have been more and more calls to extend the financial support available to affected businesses, including doubling the grant funding available and relaxing eligibility criteria to support those that have fallen through the cracks.

This morning, Andrews said the state government will reveal plans for additional support for affected businesses “very soon”, saying it is receiving input from business advocates.

“We’re giving business an opportunity to provide direct input to the government about the support that they need,” he said.

The announcement itself will be “very substantial”, the Premier promised.

“There is substantial business support that we’ve provided already, and

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Posted in Business

Business owners can sue insurer over coronavirus losses, Missouri judge rules

(Reuters) – A federal judge in Missouri said on Wednesday a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they say caused a “direct physical loss” to their premises.

The decision against Cincinnati Insurance Co by U.S. District Judge Stephen Bough in Kansas City appears to be first victory for policyholders suing insurers for improperly denying claims related to shutdowns caused by COVID-19.

Insurers had won similar cases in courts in Michigan and Washington, D.C., successfully arguing that coverage was not warranted because the virus travels through the air and does not cause physical damage.

In refusing to dismiss the Missouri case, Bough said the presence of COVID-19 was not a “benign condition,” and the plaintiffs plausibly alleged that particles were a “physical substance” that attached to and damaged their property, rendering them unsafe and unusable.

Bough

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Posted in Business

Austin Small Business Owners Pessimistic On Coronavirus Recovery

AUSTIN, TX — Austin has the nation’s largest share of small business owners who think they won’t be able to recover from the corrosive economic effects of the coronavirus, according to a study released on Wednesday.

Researchers at LendingTree, the nation’s largest online lending marketplace, analyzed results from the U.S. Bureau of the Census Small Business Pulse Survey before calculating the percentage of small business owners in the 50 largest U.S. metros who believe economic recovery is beyond their reach.

Among the key findings:

  • Neighboring San Antonio ranked second, with 14.9 percent of respondents not believing their business will recover from the pandemic. Moreover, more than 62 percent of San Antonio small business owners believe it will take at least four months before business is back to normal.

  • At the other end of the spectrum, small business owners in some cities do see light at the end of the tunnel

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Posted in Business

Queer Eye’s Tan France Uses His ‘Hellacious’ Start in Business to Help Owners During the Pandemic

When it comes to launching a small business amid tough economic times, Tan France can certainly relate.

“I started building my business within the [2007-09] recession, which was so unwise but I had no other choice,” the Queer Eye star, who founded fashion brand Kingdom & State, tells PEOPLE. “The first year-and-a-half, in particular, was so dire.”

“I started very late 2009, and 2010 was a wash. Then in 2011, I learned how to change things up to make it appropriate for what people were actually going through at that time,” France, 37, continues. “So I absolutely know what it means to pivot your business and switch things up to cater to the new market or audience.”

What France didn’t know, however, was that his experience would benefit him years later as he takes on his newest venture: starring on Facebook Watch’s Boost My Business, a show where he

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