Building the Foundation of Local and Regional Minority Chambers Across The State To Help Drive Louisiana's Economy Forward
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Greetings!
This year is moving fast as we are now in the 2nd Quarter.
We are glad to share that we are moving forward with our recent chamber affiliates, as we've received interest from prospective members desiring to join the Alexandria Regional Black Chamber of Commerce and the Lake Charles Regional Minority Black Chamber of Commerce.
I challenge you to remember the role that minority-owned businesses play across our state. Our businesses and non-profits are integral in pandemic recovery, vaccination outreach, and reversing many of the inequities across Louisiana.
Serving,
President & CEO
David St. Etienne
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Walker's Legacy to release Study on COVID's Impact and Minority Women in Business
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As small businesses across the nation work to understand the short and long term implications on business operations, Walker’s Legacy (WL) is determined to provide a voice for the fastest growing entrepreneurial segment in the nation: multicultural women in business.
In May, Walker’s Legacy will release a report which provides quantitative and qualitative data on how COVID-19 has affected minority women in business.
Walker's Legacy will use findings from the report to assist multicultural businesswomen, and provide an action plan to support multicultural businesswomen in combating economic setbacks.
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Small businesses are having trouble filling job openings, so some wages are rising
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The NFIB found that around 30% of businesses say they’re offering higher wages, “Simply because the labor market’s getting tighter, and there are more and more job openings that we’re trying to fill,” NFIB chief economist Bill Dunkelberg said.
Dunkelberg said businesses have to compete with the amount of money people are receiving in unemployment benefits. “And, of course, they’re competing with each other for the people who are qualified.”
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Biden aid for Black farmers: The view from one Louisiana farm
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(Christian Science Monitor) – Willis and Adrian Nelson never saw their father struggle when they were children. He wouldn’t let them. Not when their father Willie would put in 20-hour days working their land near the Mississippi Delta. Not when he’d take on an extra job farming their neighbors’ land, or when he’d pick up a bus driving shift to help make ends meet.
Some days, Willie didn’t have enough time to make it home in time to have a good night’s rest. Instead, he’d take a nap in their truck.
The brothers are grown men now. Willis is 33 years old; Adrian, 29. For three generations on their property outside small-town Tallulah, Louisiana, the sweat from the Nelson family’s brows has salted the earth beneath them.
On paper, farming nearly 3,000 acres seems like a successful feat. But the Nelson family’s odyssey reveals the obstacles and prejudices America’s Black farmers have long faced, and which remain to this day. This year, for example, their crop loan has come through, but with a delay that has postponed getting seeds into the soil.
President Joe Biden’s far-reaching $1.9 trillion American Rescue Plan, while aimed at addressing the nationwide challenges of the coronavirus pandemic, made a pointed effort to address basic and persistent questions of fairness in agricultural policy. Of some $10.4 billion in aid targeted at the nation’s agricultural sector, nearly half will go to historically disadvantaged farmers and ranchers, according to an estimate by the American Farm Bureau Federation, an agriculture advocacy group.
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BUSINESS UPDATES
Paycheck Protection Program Extended
President Joe Biden signed the PPP Extension Act of 2021 into law, extending the Paycheck Protection Program an additional two months to May 31, 2021, and then providing an additional 30-day period for the SBA to process applications that are still pending. Read more here
New IRS Guidance on Employee Retention Tax Credit
The IRS recently issued guidance on use of the Employee Retention Tax Credit (ERTC) for the first two quarters of 2021. Changes include an increase in the maximum credit amount from 50% to 70%, and a modification of the gross receipts test threshold. Read more here.
Covid-19 Vaccine News
On Wednesday, March 24, Gov. John Bel Edwards announced all Louisianans 16 or older will be eligible for the COVID-19 vaccine beginning Monday, March 29. People ages 16 and 17 are only eligible to receive the Pfizer vaccine. For more information on where you can get a vaccine, visit covidvaccine.la.gov.
Coronavirus Supplies
If you are looking for PPE, sanitizer, food providers, and other related products and services, search the GNOpivot Marketplace. You can view our mask comparison chart here.
Coronavirus Customers
If you have pivoted your business to make a new, coronavirus-related product, register on GNOpivot
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SBA Now Accepting Shuttered Venue Operators Grant Applications
Last week, the U.S. Small Business Administration began accepting applications for the Shuttered Venue Operators Grant (SVOG) for operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first that had to shutter their doors a year ago in response to the COVID-19 pandemic.
“Concerts, plays, dance performances, movie premieres, museum exhibits – these are the lifeblood of culture and community, and often the anchor for travel, tourism and neighborhood food and retail stores. We know that for the stage and venue operators across the nation that help make this culture happen, the pandemic has been devastating. Too many have been forced to lower the final curtain on their businesses. Today, with more than $16.2 billion available through the Shuttered Venue Operators Grants, help is here,” said SBA Administrator Isabella Casillas Guzman.
“The SBA is committed to moving as quickly as possible to deliver this vital funding effectively and equitably - ensuring relief goes to those venue operators whose revenues have been most impacted by the pandemic.”
The SVOG program was appropriated more than $16.2 billion for grants via the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act and the American Rescue Plan Act. Of these funds, at least $2 billion is reserved for eligible SVOG applications with up to 50 full-time employees. Eligible applicants may qualify for grants equal to 45% of their gross earned revenue up to a maximum amount of $10 million for a single grant.
The SBA is accepting SVOG applications on a first-in, first-out basis and allocating applicants to respective priority periods as it receives applications. The first 14 days of SVOG awards, which are expected to begin in late April, will be dedicated to entities that suffered a 90% or greater revenue loss between April and December 2020 due to the COVID-19 pandemic.
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From Our Partners at U.S. Black Chambers
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Ending the COVID-19 Pandemic: Improving Vaccine Confidence in Communities of Color
The U.S. Black Chambers recently co-hosted a vaccination event with Pharmaceutical Research and Manufacturers of America (PhRMA). The goal of the webinar was to provide medical and business leaders a platform to discuss the science behind #COVID19 vaccines and dedicated efforts to improve vaccine confidence in communities of color.
"Black and Brown Americans are disproportionately affected by #COVID19, experiencing significant health and economic impacts," says Ron Busby Sr, U.S. Black Chamber President.
Watch the Webinar Recap to explore the science behind #COVID19 vaccines, building vaccine confidence and tools you can use to empower your community as a business leader.
Have You Joined Your Regional Chamber?
Play an active role in fueling growth in Louisiana's economy by joining your Regional Minority Chamber-affiliate.
Currently the Louisiana Chamber of Commerce Foundation represents a collective of approximately 900 members of minority chambers of commerce across our state.
We advocate for opportunity and growth for 95,000+ African-American businesses across the state so that they and their 121,500+ employees can fully participate in our state's economy.
Email us and we will connect you to your Regional Chamber!
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3901 MacArthur Blvd,
Box 6012 New Orleans, LA 70114
Phone Number: 1 504-655-7572
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