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FINANCE

With the Power of One P.O., Everything Can Change for Black-Owned Apparel Businesses

By Andrew Asch | August 6, 2020

One major deal can change everything for a small company, yet it can be more crucial for determining the success of Black-owned businesses and those led by members of underrepresented groups, said Dawaud Muhammad. As the co-owner of a Black-owned printing-and-embroidery company, Muhammad leads Big Printing Textile Co., LLC, which is located in the San Francisco Bay Area town of San Leandro, Calif.

INDUSTRY FOCUS: FINANCE, In the Midst of COVID-19, U.S. Businesses Take It  One Day at a Time

INDUSTRY FOCUS: FINANCE, In the Midst of COVID-19, U.S. Businesses Take It One Day at a Time

At the beginning of July, the United States Bureau of Labor Statistics reported that June unemployment in the country fell to 11.1 percent from 13.3 percent in May, with employment in sectors including retail rising to 4.8 million following businesses reopening in many parts of the country. Recently, local governments in certain areas that have seen rising COVID-19 cases are rolling back their reopening plans, with businesses that serve particular sectors being forced to close again.

Businesses Navigate PPP Loans and Other Disaster Relief Sources

Businesses Navigate PPP Loans and Other Disaster Relief Sources

The U.S. Small Business Administration’s Payment Protection Program distributed billions of dollars in loans in the past months to companies with less than 500 employees that were hurt by the COVID-19 economic shutdown. According to Tom Waldman, a shareholder in the law firm of Stradling Yocca Carlson & Rauth, opportunities remain to get SBA loans.

President Signs COVID-19 Relief Bill, Fed Expands Main Street Program

President Signs COVID-19 Relief Bill, Fed Expands Main Street Program

President Donald Trump signed a $484 billion COVID-19 relief package into law on April 24.

True Religion Files for Bankruptcy

After emerging from Chapter 11 bankruptcy in 2017, Los Angeles denim brand True Religion filed again this week.

Unemployment Rises and Sales Fall as COVID-19 Takes Hold

Unemployment Rises and Sales Fall as COVID-19 Takes Hold

Continued debilitating business obstacles due to the COVID-19 pandemic have grown as the economy enters the second quarter of 2020 with employment and sales figures in the apparel industry decreasing.

Businesses Look to Government Lifelines in Order to Survive

Businesses Look to Government Lifelines in Order to Survive

Like thousands of other businesses, Pocket Square Clothing, a maker of suiting accessories and bespoke clothing, had to furlough its staff because of the COVID-19 crisis.

Fashion Lays Off Hundreds as Unemployment Skyrockets, EDD Said

Fashion Lays Off Hundreds as Unemployment Skyrockets, EDD Said

Unemployment has skyrocketed since the economic freeze bought by the COVID-19 pandemic, it has reached rates that the California Employment Development Department has called historic.

President Signs $2 Trillion COVID-19 Stimulus Package

President Donald Trump signed into law a $2 trillion stimulus bill on March 27 in response to the impact of COVID-19.

House Approves $2 Trillion COVID-19 Stimulus Package

The United States House of Representatives approved a $2 trillion stimulus bill on March 27 as a response to the impact of COVID-19.

Asking for Help and Clear Communication Can Aid Businesses During Coronavirus Crisis

Asking for Help and Clear Communication Can Aid Businesses During Coronavirus Crisis

Since the COVID-19 crisis began, business consultants have been fielding questions regarding how companies can navigate the financial slowdowns that will impact their companies during the next quarter and beyond.

With the Coronavirus Spread, UCLA Economists Change 2020 Forecast

With the Coronavirus Spread, UCLA Economists Change 2020 Forecast

Economists at the prominent UCLA Anderson School of Business revised their bullish forecast on the California and U.S. economies on March 12.

Otis College of Art and Design Unveils Creative-Economy Report for California

Otis College of Art and Design Unveils Creative-Economy Report for California

Findings in the “2020 Otis Report on the Creative Economy,” commissioned by the Otis College of Art and Design and generated through the work of Beacon Economics, revealed that of California’s 2.68 million creative-industry jobs, 797,075 are located in Los Angeles County. Now in its 13th edition, the report provides insight regarding the growth of California’s creative economy.

Industry Focus: Finance: Entering 2020: A New Year for New Plans in the Apparel Industry

Following a great deal of uncertainty as the apparel industry approached the fourth quarter of 2019, businesses entered 2020 with cautious optimism. While the warnings of a recession had turned around, with forecasters revising their predictions for the new year and progress with trade deals including the finalization of the United States–Mexico–Canada Agreement, in addition to advancement toward an agreement with China, additional concerns remained.

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