PayPal and Small Business Roundtable fully recognize how small businesses play a critical role in the global economy, creating jobs and fostering healthier communities. Due to the unprecedented global pandemic as a result of the coronavirus, small businesses are going through immense hardships.
For the 3rd annual PayPal Small Business Month, PayPal is shifting the campaign to focus entirely on the best ways for small businesses to endure this crisis and come out the other side. While traditionally taking place in May, this crisis does not have a neat timeline, and therefore, while the campaign is kicking off in May, we have committed to helping small businesses towards the road to recovery in the immediate as well as long-term.
In this vein, PayPal is partnering yet again with Small Business Roundtable, a coalition of leading small business and entrepreneurship organizations, dedicated to advancing policy, securing access, and promoting inclusion to benefit the businesses at the heart of the American economy. These are values that are at the core of PayPal’s mission of financial inclusion and democratizing opportunity for small businesses, particularly the underserved communities such as minority and female-owned businesses.
The partnership kicked off in May with three events dedicated to educating small business owners as they navigate the COVID-19 economic fallout as well as thought leadership style discussions with experts to brainstorm the ways public and private sectors can work together to support long term recover.
Each event was focused on a specific subject including:
- A webinar exploring how access to capital can help small businesses through the economic uncertainty related to the coronavirus including government solutions such as the Paycheck Protection Program. The conversation also analyzed how alternative lenders like PayPal play an important role in providing loans to the smallest and most underserved businesses.
- A webinar delving into the benefits of small businesses optimizing their digital tools and presence. As a result of the nationwide lockdowns we have seen a tremendous boon in digital payments and small businesses moving online to accommodate their customers and stay connected. The group talked about how small businesses can meet that challenge and the broader trend as we look towards the future
- Finally, a webinar on leadership in a time of crisis which was particularly relevant as it took place in the midst of the nationwide protests in response to police brutality and systemic racism that has been hindering minority-owned businesses for generations.
As we look towards what is next, PayPal and Small Business Roundtable will host a series of virtual Town Halls to engage Members of Congress and Government officials to join in the important discussion happening across the country related to empowering minority-owned businesses to help resolve some of the economic disparities in those communities.
Through crucial partnerships, we hope to share the ways in which small businesses are the leaders in guiding us towards economic recovery and creating healthier and more equitable communities across the nation. At PayPal, small businesses are core to our DNA and we are proud to partner with Small Business Roundtable, an organization that shares in these values.