NextLevelBusiness – The Business Survival List

What is it: Google are offering a new $800+ million commitment to support small – and medium-sized businesses (SMBs), health organizations and governments, and health workers on the frontline of this global pandemic.

How does it work: $340 million in Google Ads credits available to all SMBs with active accounts over the past year. Credit notifications will appear in their Google Ads accounts and can be used at any point until the end of 2020 across our advertising platforms. We hope it will help to alleviate some of the cost of staying in touch with their customers.

Where do I go: https://blog.google/inside-google/company-announcements/

What is it: Facebook is offering $100M in cash grants and ad credits to help during this challenging time.

How does it work: This is available for up to 30,000 eligible small businesses in over 30 countries where we operate. They will share more details as they become available.

Where do I go: https://en-gb.facebook.com/business/boost/grant

What is it: The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19)

How does it work: Upon a request received from a state’s or territory’s Governor, the SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.

Who is it for: Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19).

Where do I go: https://www.sba.gov/disaster-assistance/coronavirus-covid-19

What is it: The Coronavirus Aid, Relief, and Economic Security (CARES) Act temporarily expands eligibility for SBA economic injury disaster loans (EIDL) and provides an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within 3 days of applying for an SBA Economic Injury Disaster Loan (EID)

How does it work: Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19). In addition to the entities that are already eligible for SBA disaster loans (small businesses, private non-profits, and small agriculture cooperatives), eligibility is temporarily expanded to include:

Business entities with 500 or fewer employees

Sole proprietorships, with or without employees

​Cooperatives and employee owned businesses

​Tribal small businesses

Private non-profits of any size

Additionally, you must have been in business as of January 31, 2020. Expanded eligibility criteria and the emergency grants are only available between January 31, 2020 and December 31, 2020

Where do I go: https://www.sba.gov/funding-programs/disaster-assistance

What is it: A provision in the relief bill allows Americans to take penalty-free distributions from IRAs and qualified retirement plans up to $100,000. The standard 10% penalty for withdrawals under age 59.5 (except in the event of death or disability) is waived.

How does it work: The no-penalty allowance applies to “coronavirus-related distributions” — i.e. people who are diagnosed with COVID-19 or have experienced financial hardship from quarantine, layoffs, reduced hours, or furlough between now and December 31, 2020.

Who is it for: People with eligible plans and are diagnosed with the virus are eligible, along with anyone who “experiences adverse financial consequences” as a result of the pandemic, including an inability to find work or child care. 

Where do I go: Contact your pension provider 

What is it: The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19)

How does it work: In most cases, loan amounts are up to one half of the prior year’s gross profit not to exceed $500,000, but if more is needed there is a more detailed calculation that may allow for up to $2,000,000 (historically 95% have been under $500,000).

Who is it for: Eligible borrowers are small business (determined by the SBA size standard corresponding to the business’ NAICS code) and private non-profits (must sell something to generate revenue) who have suffered substantial economic injury as a result of a declared disaster (in this case, COVID-19). Substantial economic injury means the business is unable to meet its obligations and to pay ordinary and necessary operating expenses.

Where do I go: https://www.sba.gov/disaster-assistance/coronavirus-covid-19

What is it: The Senate’s $2 trillion stimulus package designed to contain the economic damage from coronavirus will postpone payroll taxes for employers.

The bill will allow companies to pay their 2020 payroll taxes through the end of 2022. They will have to pay 50% by the end of 2021.

How does it work: Companies will still be withholding employees tax from paychecks and remitting that to the IRS, but their half of payroll taxes will be delayed. Qualifying companies will be able delay their share of Social Security payroll taxes to the IRS. They would be delayed until Jan. 1, 2021, with 50% owed by the end of 2021 and the other half due Dec. 31, 2022.

Who is it for: Businesses that continue to employ workers through the coronavirus crisis.

Where do I go: Nowhere, just don’t need to send the check right now.

What is it: The economic relief package contains what have been called “recovery rebates.” These rebates would provide a one-time cash payment to individuals in order to help households cover necessary expenses during the coronavirus outbreak.

How does it work: These rebates would be paid out as advanced refunds. Individuals do not need to wait until the next tax filing season (January 2021) to get the rebate. The payments will either be sent as a check or directly deposited into a taxpayers’ bank account.

Who is it for: The rebate for a household is equal to $1,200 ($2,400 for married couples filing jointly). The rebate is increased by $500 per child in the household and there is no cap to the number of children that qualify.

Where do I go: N/A – Automatically done by the government 

What is it: By giving businesses current access to future tax “assets”—deductions and credits the businesses will be allowed or owed overtime any way under current law—instead of making them wait. Allows firms a 2020 cash payment of their past and current-year losses at the statutory marginal tax rate they would face in a profitable year (e.g., up to the top 21 percent for a corporation, or the marginal tax rate applicable to a pass-through business).

How does it work: Restoring carryback to raise current cash for strapped businesses without permanently reducing federal revenue. It is a sound tax policy akin to firms being taxed on average profitability.

Who is it for: Business owners effected by COVID-19.

Where do I go: N/A

What is it: The employee retention credit is a payroll tax credit equal to 50 percent of “qualified wages” paid by “eligible employers” to certain employees during the COVID-19 crisis. 

How does it work: The credit applies against the employer’s share of FICA (social security) tax. The credit is capped at $10,000 per employee.

Who is it for: For both eligible large employers and eligible small employers, “wages” has the meaning used for FICA tax purposes. Qualified wages also include the employer-paid portion of the employee’s group health plan premiums.

Defer the payment until a later date

Pay the VAT due as normal

Employers with fewer than 250 employees will be eligible – the size of an employer will be determined by the number of people they employed as of 28 February 2020

Employers will be able to reclaim expenditure for any employee who has claimed  (according to the new eligibility criteria) as a result of COVID-19

SSP

Where do I go: The government will work with employers over the coming months to set up the repayment mechanism for employers as soon as possible.

NOTE: Other options may be available.

The Australian Government has put together several options to help small businesses through COVID-19, you can find the relevant help available to you here: https://treasury.gov.au/coronavirus/businesses

What is it: If you’ve suffered a drop of 30% (relative to the comparable period last year) then you can $1500 per fortnight for each eligible employee.

Who is it for: Must be employed for 12+ months prior to March 1st.

Where do I go: https://treasury.gov.au/

What is it: You can claim $20k-100k(initially the min was $2k, that’s been increased to $10k per payment – you can claim twice. Once now & another in July-October period.

How does it work: It will be automatically on your BAS (as a credit when you lodge I believe). Changes slightly if you file BAS monthly or quarterly. it’s essentially the amount of PAYG you were going to pay from April – Sep (inclusive) Capped at $100.

Where do I go: https://treasury.gov.au/ 

NOTE: Please refer to your relevant state / territory for specific COVID-19 Help.

Link: https://bit.ly/2WVLnTv

What is it: Video Call Software

How we use it: We use Zoom for our team daily stand up meetings and for calls with clients & members.

Add ons: 
https://krisp.ai/ 
https://otter.ai/ 

Link: https://slack.com/

What is it: An instant messenger app that allows you to message, send files, video call etc with your team. 

How we use it: We use it for team communications. 

Link: https://trello.com/

What is it: A project management tool 

How we use it: We use it to manage our projects as well as individuals work loads. 

Add ons: Use the Card repeater Power Up

Link: https://miro.com/

What is it: The Online collaborative whiteboard platform.

How we use it: Oli uses it to draw funnels and campaigns out and share with the team to work from. 

Link: https://www.voxer.com/

What is it: Voicenote app

How we use it: To send voice messages to the team, that may be longwinded to type out in Slack. 

Link: https://www.notion.so/

What is it: Collaborative document tool 

How we use it: Internal Wikipedia  

Link: https://www.loom.com/

What is it: Easy and free screen recorder for Mac, Windows, and Chromebooks. Record your camera and screen with audio directly from your Chrome browser and share with your team.

How we use it: Used to share information, training and explainer videos. 

Link: https://www.descript.com/

What is it: Transcription Tool 

How we use it: Transcribe call notes, transcribe any audio we may need copy for i.e. Oli’s presentation recordings.

Link: https://ouraring.com/

What is it: While you sleep, your body is sending a flurry of signals. When decoded, these signals – heart rate, body temperature and more – communicate your body’s progress as it prepares you for the next day. And night after night, you sleep through it. Oura interprets these signals so you can wake up to the insights you need to take on the day.

Why you should use it: To understand your sleep patterns and get better quality sleep.

Link: https://choosemuse.com/

What is it: Muse is an EEG device widely used by neuroscience researchers around the world. It uses advanced signal processing to interpret your mental activity to help guide you.

Why you should use it: Muse helps make learning the art of meditation easy to help you build a rewarding, long-term practice.

Link: https://primedmind

What is it: Hypnotherapy, mindset and meditation coaching.

Why you should use it: If you’re looking to get back in balance and prime yourself for the day this is a great place to start.

Link: https://mantasleep.com/

What is it: A sleep mask.

Why you should use it: To help you get better quality sleep to be your best self.

Link: https://www.amazon.com/Satya-Champa-Sandalwood-Incense-Sticks/

What is it: Incense is used to freshen up the scent of indoor areas, for spiritual purposes, for health, and more.

Why you should use it: Help calm the mind during meditation.

Link: https://mantasleep.com/

What is it: Blue light emission from electronics is known to cause eye strain, headaches, and difficulty sleeping.

Why you should use it: To help get better sleep and begin telling your brain to start switching off earlier.

Link: https://shop.bulletproof.com/

What is it: Caffeine free energy booster.

Why you should use it: Helps mitochondria repair itself and support your brain and body.

Bose 700 Noise Cancelling Headphones: https://www.bose.com/en_us/products/headphones/

Binural Beats on YouTube: https://www.youtube.com/watch

https://www.di.fm/

Brain.fm (get 5 free sessions)

NextLevelBusiness Playlist on Spotify: https://open.spotify.com/playlist/