As discussion continues on whether Minnesota will move to a “shelter in place” directive, we welcome your thoughts on the process for determining “essential services” to ensure we are advocating for a thoughtful process to include a comprehensive exemption for “essential services” to protect critical services and supply chains. Please take this short survey to assist our efforts. https://www.surveygizmo.com/s3/5516665/Essential-Businesses
As an update to an earlier post on the Greater Mankato Blog on SBA Disaster Loan Funding, which details application considerations, late last night Minnesota businesses became eligible for the initial government tool for relief from the impact of COVID-19. Read More
Below is a member guest submission from Lutheran Social Services via their blog.
With change and uncertainty around COVID-19, you may feel greater anxiety, worry and stress — especially around personal finances. Some of us are facing the possibility of reduced income with fewer hours at work. Parents are scrambling to find child care or cover shifts so they can stay home because their child’s school has closed. Many households are stocking up on food staples and supplies, creating a strain on budgets. And, there is turbulence in the stock market.
This is a perfect time for you to take a good look at your personal finances and put plans in place for the weeks and months ahead. Read More
The following is the text of a news release from the MN Department of Employment and Economic Development.
We care deeply about your business and are actively working with state and federal partners on measures to assist businesses through this unprecedented time.
DEED is regularly connecting with business leaders from around Minnesota to offer information, hear their questions and ensure we are doing all we can as quickly as we can. Read More
The Minnesota Chamber of Commerce just made available a recording of a webinar they hosted today with experts who discussed how businesses can access capital, work with employees, and better understand how policies passed at the state and federal level can offer businesses relief. You can watch the recorded webinar here.
Our friends at Brown & Brown Insurance are hosting a webinar on Navigating COVID-19 Employer & Employee Concerns: HR Regulartory Guidance, Managing a Remote Workforce & Mental Health on Friday, March 20th at 1pm. You can register here and see the flyer below.
The Federal Government and State of Minnesota have taken several steps related to taxes to help mitigate the impact of COVID-19 on businesses. Below is a summary of these actions (current as of 2:15 pm March 20) and links to additional resources. Read More
The Minnesota Chamber of Commerce will hold a webinar on Thursday, March 19 from 12:00 – 1:30pm featuring experts who can summarize how businesses can access capital, work with employees and better understand how policies passed at the state and federal level can offer businesses relief. Speakers include Commissioner Steve Grove of the Department of Employment and Economic Development (DEED), Commissioner Cynthia Bauerly of the Department of Revenue, Commissioner Nancy Leppink of the Department of Labor and Industry and Kristin Parker, employment lawyer and partner at Stinson, LLC.
You can register to participate HERE.
As you’ve likely seen, state/federal/local governments are considering a number of policy options to support businesses during these unprecedented times. Greater Mankato Growth will do all we can to keep our business community up to date on the latest developments via this blog page and our COVID-19 resources page. Check back frequently as the policy situation is rapidly evolving.
In addition, Greater Mankato Growth in partnership with the Minnesota Chamber of Commerce is taking proactive measures to advocate for business support measures. This morning Greater Mankato Growth signed onto a letter with our chamber colleagues from across the state asking the state of Minnesota to do the following: Read More
The state of Minnesota is directing employees who have been laid off or had their hours reduced as a result of COVID-19 to apply for unemployment insurance.
The Governor recently signed an executive order increasing the accessibility and flexibility of unemployment insurance for employees – including ensuring that payments can start immediatly. If you have had any disruption in pay as a result of COVID-19, you are encouraged to get more information and apply here: https://www.uimn.org/applicants/needtoknow/news-updates/covid-19.jsp
Unemployment insurance has a “Shared Work” program that Employers can take advantage of to divide work among a group of employees that will work reduced hours during a temporary slowdown. They are paid unemployment benefits to offset part of their reduced wages. This help you retain those employees vs. laying them off.
In addition, Govenror Walz has announced that employers paying unemployment insurance taxes will not see a rate increase if their workers collect unemployment benefits as a result of COVID-19. Employers can get more info here: https://www.uimn.org/employers/employer-account/news-updates/covid-19.jsp
This morning, March 17th, the U.S. Small Business Administration held a webinar on the current status of SBA funding for businesses impacted by the COVID-19 virus.
The main funding tool is SBA Disaster Assistance loan for working capital to small businesses. The size of a business, by SBA definition, is dependent on industry, revenue, and employees on payroll. A vast majority of Greater Mankato businesses would meet the criteria, as well as non-profits. Read More
Greater Mankato Growth in coordination with the Regional Economic Development parnters (Eagle Lake, Lake Crystal, Mankato, North Mankato, St. Peter, and Blue Earth and Nicollet Counties), is monitoring updates to legislation (State and Federal) which would provide resources for businesses as they deal with the impacts of COVID-19.
To assist Greater Mankato Growth, we are asking area businesses to complete the following survey (4 minute length) so we can continue to provide useful information to our partners and businesses: https://www.surveygizmo.com/s3/5502344/Covid-19-and-Greater-Mankato