On today’s WJR Business Beat segment, Jeff shares a recent StartupNation Radio interview conversation he had with Brian Calley.
Calley is the current president of the Small Business Association of Michigan (SBAM), and he was formerly the 63rd lieutenant governor of the state of Michigan. The Small Business Association of Michigan is an advocacy group on behalf of Michigan businesses, offering group purchasing and insurance, energy efficiency programs, and more to help businesses compete and succeed in the state of Michigan.
During the interview, Jeff asked Brian, “What are some of the things you wish we would focus on in order to get businesses opened up and on the path to success again?”
Tune in to this morning’s WJR Business Beat to hear Calley’s answer:
StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here
“There was about $120 billion that was left over in Paycheck Protection Program funding. We’d love to see those funds reallocated for additional weeks of support for businesses that have experienced 50 percent or greater loss in their revenue, or those that are still mandated to be closed right now by their state governments.”
– Brian Calley
If you’re a Michigan business in need of assistance, support and/or guidance, check in with Brian and his team at the Small Business Association of Michigan at SBAM.org to learn more.
Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.
Are you an entrepreneur with a great story to share? If so, contact us at [email protected] and we’ll feature you on an upcoming segment of the WJR Business Beat!
Good morning, Paul.
Last week, I had the chance to interview Brian Calley on our StartupNation Radio show.
Now, Brian is the current president of the Small Business Association of Michigan, and he was formerly the 63rd lieutenant governor of the state of Michigan, serving alongside Rick Snyder.
As Brian told us, the Small Business Association of Michigan is really an advocacy group, an important group on behalf of Michigan businesses. They offer group purchasing and insurance, energy efficiency programs, and those sort of things to help businesses compete and succeed in the state of Michigan. And in their role, they’ve obviously been very active in helping businesses get reopened in the time of the COVID crisis.
During the interview, I had a chance to ask Brian, “What are some of the things he wishes we would focus on in order to get businesses opened up and on the path to success again?”
Here’s Brian:
There’s a handful of things that I think could be done really straight away. First is make Paycheck Protection Program loans under $150,000 automatically forgivable. So that’s like 85, 86 percent of the total loans are the small ones. Just forgive those. Don’t make them go through the administrative hassle. So that’s the first. Now let the expenses that the proceeds of Paycheck Protection Program loans were spent on, make those deductible. It’d be another good kind of shot in the arm right now because the forgiven loan is not income, the expenses that you incur in connection with it are not deductible. Allow those to be deductible in the normal course. There was about $120 billion that was left over in Paycheck Protection Program funding. We’d love to see those funds reallocated for additional weeks of support for businesses that have experienced 50 percent or greater loss in their revenue, or those that are still mandated to be closed right now by their state governments.
We all want to get our businesses reopened and on a path to success again.
If you’re a Michigan business in need of assistance, support and/or guidance, check in with Brian and his team at the Small Business Association of Michigan, that’s SBAM.org to learn more.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
