Yesterday, Joe Biden was sworn in as the 46th President of the US. Let’s hit a couple of important notes here.
The Biden administration is calling for $15Billion in grants to small businesses. This is a new program, not an extension of PPP. The plan also calls for $35B in financing programs for loans and capital for entrepreneurs. Also on deck are potential changes to PPP, including better oversight and a guarantee that every eligible business with 50 employees or fewer gets relief.
Why do we care?
New administration, new approach to regulation. My 2021 prediction is that the first half of the year is rough. One effect of that will be new programs to take advantage of. If your goal is survival, you take every lifeline thrown your way.
Expect the administration to move fast. They’ve set a pretty bold tone already – 17 executive orders on day one — so expect more. Pay attention – that’s why we care. There will be programs designed to help stimulate growth.