Saturday wraps National Small Business Week 2020, bringing a close to one of the most unique celebrations of entrepreneurs and small business owners in recent memory. Businesses are shuttering in the thousands, and the short-term outlook is equally dire, with one-in-five likely to close their doors in the next six months without improved conditions. 

As we expressed earlier this week, the failure of policymakers to meet the evolving needs of small business owners makes this week’s celebratory platitudes ring particularly hollow. Action is critical to strengthen entrepreneurship nationwide, as demonstrated by members of the Start Us Up coalition. 

Small Business SOS – It’s Time to Supercharge Local Crowdfunding to Unlock Needed Capital 
The Small Business & Entrepreneurship Council released a new report highlighting the role investment crowdfunding can play in ensuring greater access to capital for struggling businesses and entrepreneurs. The data reveals the promise of crowdfunding and calls for the creation of a “Main Street Recovery Co-Investment Fund.” 

Let’s Use Stimulus Money to Boost Entrepreneurs 
Economic Innovation Group Vice President Chris Slevin penned an op-ed in the Washington Monthly, calling on federal policymakers to devote resources to new businesses, rather than solely funding existing ones. Slevin writes that “with new business applications running unusually high, suggesting perhaps that newly unemployed may be trying to start their own enterprises, Congress can begin to spark an entrepreneurial renaissance with a tool that proved successful a decade ago.” 

Small Business Policy Needs with U.S. Senator Ben Cardin 
Small Business Majority recently hosted U.S. Sen. Ben Cardin, ranking member of the U.S. Senate Committee on Small Business & Entrepreneurship, for a National Small Business Week conversation on federal relief programs for entrepreneurs. The webinar’s recording is available to all who sign up through the Small Business Majority website.