June 8, 2020
To help you navigate these uncertain times, we’ve compiled timely news and resources related to small business, education and connectivity. We hope this provides both information and comfort as we continue to weather these challenges.
T.D. Jakes Foundation in Action
Chairman T.D. Jakes joined Katie Couric and Bozoma Saint John to discuss the mass protests in response to the killing of George Floyd and other unarmed black people, saying that inequality isn’t a black people’s problem but an “American crisis.” He said the proper response is not violence, looting or military in the streets but justice. Watch the discussion here.
Chairman T.D. Jakes joined Gayle King on CBS This Morning to address faith, resiliency and creating lasting change in the aftermath of George Floyd’s death and uprisings around the country and across the world.
Are you a displaced worker looking for job opportunities? We’ve compiled job opportunities in essential sectors such as grocery and drug stores and restaurants, along with remote opportunities in technology. Find them here.
Owning a business is never easy, but it’s even more challenging now, with so many owners unable to meet overhead or pay salaries. Click here to learn more about the resources available to small-business owners.
Small Business Information and Assitance
Congress is considering fixes to the Paycheck Protection Program (PPP), namely giving businesses owners more time and flexibility in how they spend their loans. To ensure that small businesses are able to recover and bounce back stronger, Forbes Contributor Rhett Buttle identifies five ways to fix the program, including offering direct grants and access to other types of capital, help with healthcare costs and coverage, support for caregivers and paid leave, a fairer tax system and a seat at the decision-making table.
With people across the country and the world taking to the streets to protest the killings of George Floyd, Breonna Taylor and others, SoftBank announced that it will create a $100 million fund that “will only invest in companies led by founders and entrepreneurs of color.” The Opportunity Growth Fund is “the biggest fund providing capital to black Americans” and one of the first to put significant capital behind companies’ statements of empathy and outrage in response to mass protests.
Bank of America will make a $1 billion, four-year commitment of additional support to help local communities address economic and racial inequality, focusing most closely on programs that will assist people and communities of color, which have been disproportionately affected by the global pandemic.
The COVID-19 pandemic has hit women-owned small business especially hard due to their historic lack of access to capital and struggles to find childcare, among other issues. Register for Politico’s “Women and COVID-19 , Small business owners in crisis series,” and receive links to interviews with women such as Teresa Carlson, Vice President of Worldwide Public Sector, Amazon Web Services; and Dionna Dorsey, Owner and Designer, District of Clothing.
Addressing the Digital Divide
Since April, state legislatures have introduced more than 40 bills designed to increase broadband access, which is estimated to reach only about three-quarters of U.S. homes. Read about the various proposed legislation here.
On Friday, the Bureau of Labor Statistics (BLS) released the May jobs report, which showed the unemployment rate dipping to 13.3%. But those numbers were soon revised upward to 16.3%, due to a “misclassification error” by BLS. The revised numbers still represent a drop from April’s unemployment high of 19.7%. Read more in The Washington Post.
Worried you might have symptoms of coronavirus? CNET explains how to find a test site and how to check wait times.
Together, we can and will get through this.
President & CEO
T.D. Jakes Foundation
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