Gusto exists to serve small businesses across the US. We are deeply committed to helping entrepreneurs and their employees thrive. In light of recent events stemming from the spread of the COVID-19 virus, Gusto has sent letters to Congress, the Small Business Administration (SBA), financial regulators, and state officials on behalf of small businesses nationwide. We have also commissioned a data report on small business employment trends during the pandemic and joined the #PayToday movement.
Gusto will continue to advocate on behalf of small businesses to help get them the vital support they need. Every action, big and small, counts right now. Check back here for our latest advocacy activities.– Gusto Editors
Letters to lawmakers
Gusto sent versions of the below letter to Congress, the SBA, and financial regulators.
We urged Congress to increase and expedite funding for small business loans and grants, provide forbearances on small business loans, and waive interest and fees. We also urged policymakers to open an API for private companies, thereby allowing third parties such as payroll companies to help streamline loan applications, processing, and fund disbursement.
Read the full letter here:
AICPA-led coalition supports expedited small business funding
Gusto joined 22 other coalition members in signing a letter to President Donald Trump, Secretary of Treasury Steve Mnuchin, SBA Administrator Jovita Carranza, and members of Congress urging faster distribution of economic stimulus funds through payroll processors.
Read the full letter here:
Addressing state legislators
Read Gusto’s full letter to California Governor Gavin Newsom here:
Read Gusto’s full letter to Colorado Governor Jared Polis here:
Read Gusto’s full letter to New York Governor Andrew Cuomo here:
Gusto data reports
Gusto has compiled and analyzed company data to create detailed reports of how COVID-19 is impacting small businesses and their teams.
- Small businesses economic trends in May 2020
- Small business economic trends in April 2020
- Small business economic trends in March 2020
- This study was also featured on CNBC.
- The real-time impact of COVID-19 on small business employees
Gusto CEO Josh Reeves and COO Lexi Reese co-authored a piece for Fast Company on how the country can better support small businesses during this unprecedented crisis.
Gusto leaders also authored an op-ed in Business Insider on structural issues within the Payroll Protection Program that need to be addressed to ensure aid is getting to the businesses that have been hit the hardest—small businesses.
Page 30 Coalition
The U.S. Hispanic Chamber of Commerce , the U.S. Black Chambers, Gusto and other companies and groups have started the Page 30 Coalition, named after the page in the $2.1 trillion coronavirus relief bill that calls for prioritizing “small business concerns and entities in underserved and rural markets.”
The coalition is pushing for “additional aid for America’s most vulnerable small businesses,” including startups, rural businesses and those run by minorities, women and veterans.
Almost 40% of small businesses only have 30 days of cash on hand. To help ensure their survival, Gusto has joined the #PayToday movement, which calls on companies and government agencies to support SMBs by:
- Making a commitment to pay small businesses as quickly as possible
- Promoting the #PayToday movement in their communities