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Forbes
02-05-2025
- Business
- Forbes
What Every Entrepreneur Should Know About Trump's First 100 Days
American flag painted on gates of Continental Hardware store, Queens, New York. (Photo by: Lindsey ... More Nicholson/UCG/Universal Images Group via Getty Images) As we celebrate National Small Business Month this May, many entrepreneurs are heads down—managing payroll, shipping product, chasing payments. But while you've been busy running your business, Washington has been equally busy reshaping the environment in which you operate. Over the first 100 days of President Donald Trump's second term—January 20 through April 29, 2025—the administration has enacted a series of policy changes with direct implications for America's small businesses. From federal contracting and regulatory shifts to budget freezes and tax reform efforts, the ground is shifting beneath Main Street. And if you're not paying attention, you could miss changes that impact your access to capital, your workforce model, or your competitive edge. Here's what every entrepreneur should know about the Trump administration's early moves—and how to navigate what comes next. The U.S. Small Business Administration (SBA) reported an 80% increase in loan approvals during the first 100 days, totaling approximately 26,000 loans worth $12.6 billion. Notably, there was a 95% increase in loans to businesses with five or fewer employees and a 56% rise in loans for new startups. ( However, these gains are accompanied by significant structural changes within the SBA. The agency announced plans to reduce its workforce by 43%, aiming to return to pre-pandemic levels and save taxpayers an estimated $435 million annually by 2026. Additionally, the SBA has terminated or paused over 120 contracts, resulting in about $3 billion in future savings. ( Why it matters: While increased loan approvals suggest improved access to capital, the agency's downsizing and contract terminations may affect the availability of support services and resources for small businesses. The administration has taken steps to simplify federal procurement processes. Executive Order 14173 eliminated certain compliance mandates related to workforce diversity, shifting federal contracts toward a merit-based approach. Additionally, according to the SBA the percentage of federal contracts awarded to small businesses increased from 18% to 23% over the last three months, indicating a potential rise in opportunities for small business participation in federal projects. Why it matters: Simplified procurement processes may reduce administrative burdens, but the removal of diversity mandates could impact businesses that previously benefited from such provisions. Efforts are underway to extend key elements of the 2017 Tax Cuts and Jobs Act (TCJA), including the 20% qualified business income deduction for pass-through entities. A House budget resolution passed in March supports these extensions, aiming to provide continued tax relief for small business owners. Why it matters: If enacted, these extensions could offer ongoing tax benefits for small businesses. However, entrepreneurs should stay informed about legislative developments that may affect their tax planning strategies. The administration has reinstated a deregulatory framework directing agencies to repeal ten regulations for every new one. This initiative aims to reduce compliance costs and streamline operations for businesses. Why it matters: While reduced regulations can lower operational costs, it's essential for businesses to understand how these changes may affect industry standards and compliance requirements. The Department of Labor (DOL) is currently reconsidering the 2024 rule that made it more challenging for companies to classify workers as independent contractors. This month the DOL announced that it is reviewing and developing the appropriate standard for determining employee versus independent contractor status under the Fair Labor Standards Act (FLSA). This move could allow for more flexible engagement of gig workers and freelancers. Why it matters: Small businesses heavily rely on independent contractors and 1099 workers for their everyday operations. This potential change may simplify hiring practices. However, it's important to monitor state laws, which may have different classifications and requirements. In light of these developments, here are actionable steps entrepreneurs can take: National Small Business Month serves as a reminder of the vital role entrepreneurs play in the economy. As federal policies continue to evolve, staying informed and proactive is crucial. By understanding and adapting to these changes, small business owners can position themselves for sustained growth and success in an ever-changing landscape.
Yahoo
03-03-2025
- Business
- Yahoo
SBA extends damage loan application deadline hurricanes Milton, Helene
The U.S. Small Business Administration is extending the deadline to apply for physical disaster loans for damage from Hurricane Milton and Hurricane Helene. The extension is for disaster declarations affected by the 2024 federal funding lapse Businesses, private nonprofits, homeowners and renters now have until April 27 to apply. The disaster declaration covers Alachua, Baker, Bradford, Brevard, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Franklin, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hernando, Hendry, Highlands, Hillsborough, Indian River, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Madison, Manatee, Marion, Martin, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Suwannee, Taylor, Union, Volusia and Wakulla counties, as well as the Miccosukee Tribe of Indians of Florida. The SBA says businesses and nonprofits may apply to borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Homeowners and renters are eligible to apply for home and personal property loans. If approved, they may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence. Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind-rated garage doors, and installing a safe room or storm shelter. According to the SBA, loan amounts can be up to $2 million with interest rates as low as 4% for small businesses, 3.25% for PNPs, and 2.813% for homeowners and renters, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA says it sets loan amounts and terms based on each applicant's financial condition. For more information or to apply, visit You may also call the SBA's customer service center at 800-659-2955, or email disastercustomerservice@ SBA customer service representatives will also be available to answer questions and help with applications at five business recovery centers and a business resource and assessment center. Walk-ins are welcome, or you may click here to make an appointment. The center locations are at: Charlotte County - Port Charlotte Town Center Mall - 1441 Tamiami Trail, Port Charlotte, FL 33948 Hillsborough County - Entrepreneur Collaborative Center - 2101 E Palm Ave Tampa, FL 33605 Manatee County - Rocky Bluff Branch Library - 6750 US 301, Ellenton, FL 34222 Manatee County - Tingley Memorial Library - 111 2nd St N., Bradenton, FL 34217 Pinellas County - Epicenter at St. Petersburg College - 13805 58th St N, Clearwater, FL 33760 Volusia County - UCF Business Incubator Volusia County - 601 Innovation Way, Daytona Beach, FL 32771 Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.
Yahoo
07-02-2025
- Business
- Yahoo
FInal day for submitting FEMA applications is here
Feb. 7—PRINCETON — Today is the final day for Mercer County residents impacted by Tropical Storm Helene to apply for FEMA disaster assistance. Located in the Lifeline Princeton Church of God at 250 Oakvale Road near Princeton, the disaster recovery center will be open until 5 p.m. today, according to West Virginia FEMA Federal Coordinating Officer Georgeta Dragoiu. People who cannot come to the disaster recovery center can still apply for FEMA assistance until midnight today, Dragoiu said. FEMA can be reached by calling 800-621-3362. Residents can also apply online at or download the FEMA app to their smartphone or tablet. The disaster recovery center will be open until Feb. 14 to provide service for disaster applicants. Its hours of operation will be Monday, Feb. 10 to Thursday, Feb. 13 from 9 a.m. to 5 p.m. and Friday, Feb. 14 from 9 a.m. to noon. It will be closed Saturday and Sunday. Homeowners, renters and business owners impacted by Tropical Storm Helene can still apply for a U.S. Small Business Administration physical disaster loan. Applicants can apply online at call "With the SBA, there is an additional 60 days that survivors can come to the center or go online at and complete the registration for the disaster that happened here for Helene," said Wakim Brice, officer in charge with the SBA in Mercer County. "So far we have taken 73 applications in and given over a quarter million dollars dispersed for residents to repair physical structures as well as their personal belongings that may have been damaged and assisted business owners as well as renter in the area so we are gearing up for that," he said. SBA representatives will be available at the Princeton Public Library until Feb. 114, Brice said. THe SBA's Customer Service Center can be reached at 1-800-659-2955 or by email at disastercustomerservice@ for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, dial 7-1-1 to access telecommunications relay service. Contact Greg Jordan at gjordan@
