Doing Business during COVID-19
- Apply for an Economic Injury Disaster Loan: Assistance is now available for SC businesses, including $10,000 emergency advances -
- Navigate the CARES Act: The CARES Act is a $2 trillion economic support package focused on direct payments, target relief, small business loans, health care surge, and state and local aid
- It includes a $350 billion Paycheck Protection Program SBA 7(a) to help small businesses stay open and keep employees on payroll by providing cash-flow assistance via 100% federally guaranteed loans that may be forgiven if borrowers maintain or restore payroll.
- Businesses must apply through an SBA Preferred Lender. Read this information, determine if you are eligible, review the application & talk to a lender.
- Get state tax relief: The SC Dept. of Revenue has implemented emergency relief, including more time to pay taxes.Tax returns and payments due April 1–June 1 will now be due June 1, 2020. Penalty and interest will not be charged if payment is made by June 1. This includes SC Individual Income Taxes, Corporate Income Taxes, Sales and Use Tax, Admissions Tax, Withholding Tax, and other taxes administered by the SCDOR. The SCDOR is automatically applying this tax relief for all applicable returns and payments; you don't need to take any additional action.
- Get federal tax relief: The Internal Revenue Service (IRS) deadline to file federal taxes for businesses and individuals was moved from April 15 to July 15, 2020 without penalties or interest, regardless of the amount owed. The deferment applies to all taxpayers, individuals, trusts and estates, corporations, and other non-corporate tax-filers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief.
- Apply for grants: Major companies have announced support for small businesses
- Get business guidance: The S.C. Department of Commerce has created an online resource center to engage the state's business community on what's available to deal with COVID-19 & the Small Business Administration has compiled small business guidance and loan resources
- Get business coaching: CommunityWorks, a nonprofit financial organization, is offering local small businesses coaching and training
- Get HR guidance: FordHarrison LLP recorded complimentary webinars to help businesses navigate COVID-19
- The Families First Coronavirus Response Act, funded at $105 billion, provides free testing, paid sick leave and unemployment benefits.
- Ask a question: Reach out to the SC Dept. of Commerce with a question, or review resources online
- Take your business online: Do you usually offer a service in person that you can offer online? Teach a class, consult with a client or offer a digital download
- Offer delivery: Consider delivering products to your customers doorsteps, with a no-contact delivery option
- Educate your customers: Let them know what measures you're taking to ensure customer safety
- Refocus: Identify products or services that you can offer that are in-demand during this situation
- Give us a call: Need to vet an idea or simply talk it out? Reach out to a team member
How Business can PROTECT SPARTANBURG
- Work from home: We ask that our employers do whatever they can to allow employees who can work from home, to work from home
- Protect your workforce: We ask employers who cannot operate without employees in office to implement CDC recommendations to protect your workforce - DHEC and OSHA have also issued workplace guidance
- Educate your employees: We ask you to educate your employees on the symptoms of COVID-19 and the right ways to seek medical assessment as symptoms arise, as we must protect our medical facilities and our emergency rooms
- Protect our healthcare system: If legally possible, please do not require a healthcare provider's note for employees who are sick with acute respiratory illness to validate their illness or to return to work, as healthcare provider offices and medical facilities may be extremely busy and not able to provide such documentation in a timely way - see FAQs from Spartanburg Regional
We know that people and businesses, small and large, will face financial hardships. We are actively seeking resources to help our local businesses recover. We will do whatever we can to help you. But today and in the days ahead, we all must put public health first. The time to act is now.
Many of our local small businesses will be impacted over the weeks and months ahead. We urge our community to band together and support small business like never before, while following critical recommendations to stop the spread of COVID-19.
- Support local businesses: Need to buy supplies? Find a local business. If your employees are still on site, consider supplying meals
- Purchase essentials from locally-owned stores: Spartanburg specialty stores include pharmacies, butchers, wine shops, and prepared foods, just to name a few
- Patronize local restaurants: Order takeout, curbside pickup and delivery from local restaurants as often as you would go out to eat (or more!)
- Participate in innovative digital offerings: Support small business offering online classes and entertainment
- Shop remotely with local merchants: Need to buy a gift? Choose to shop online at a local store, or purchase from a store offering delivery
- Buy gift cards to spend later: Go above and beyond to benefit your favorite businesses
- Choose local vendors: It's not just hospitality and retailers who are losing out on business - select local vendors for your business needs
- Influence others to do the same: The more people who support local business, the stronger our local economy will be