Resources for Small Businesses and Entrepreneurs
With our community working through these difficult times, we are continually striving to provide financial strategies and resources to our small businesses and entrepreneurs. Tuesday, I attended a webinar to learn more about a new program created at the request of the Utah Governor’s Office of Economic Development.
“Utah Leads Together” is an economic response plan for Utah’s small businesses and entrepreneurs.
As Governor Herbert stated, “We must protect against the devastating health effects of COVID-19 and provide the best care possible to those who contract the virus. At the same time we must protect and provide concrete practices and policies to those impacted by the economic consequences the virus has created. And that includes everyone.”
“Utah Leads Together” is a comprehensive agenda to mitigate the economic consequences of COVID-19. The ultimate goal is to return Utah to the phenomenal economic growth it enjoyed before the pandemic. It offers programs and policies that bring together public health initiatives, financial support through federal and private engagement, and access to best practices to shorten, to the extent possible, the adverse economic consequences of the pandemic.
Check out the full playbook at coronavirus.utah.gov/business/. The recommendations provided are from dozens of Industry and state leaders.
The plan is summarized into 3 phases:
- Urgent Phase (Coordinated health response coupled with the economic stimulus.)
Goal: Achieve a person-to-person transmission rate of 1 to 1 within 30 days. Once the transmission rate remains the same or declines for 7 days or more it will indicate a plateauing and a transmission rate below 1.0. Strategy: Aggressive social distancing combined with intensive and precise deployment of testing, tracing, and promising treatments to mitigate the spread of the disease, protect hospital capacity, and accelerate economic recovery.
- Stabilization Phase (Public health measures and economic interventions begin to take hold)
Goal 10 to 14 weeks
- Recover Phase (Return to stability, which relies on the success of the other two phases.)
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Additionally, check the Local Announcements section on our homepage for updated community information from our small businesses and entrepreneurs. mountainexpressmagazine.com