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SAN FRANCISCO, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Rocket Lawyer, the affordable and complete legal service, today announced new research that reveals how small and mid-sized businesses (SMBs) view their future business outlook, employment law, vaccine mandates, and more.
From unprecedented financial challenges because of the pandemic to new vaccine mandates and continued labor shortages, SMBs have faced many obstacles this year. Yet, with emerging issues, such as the supply chain crisis and new COVID strains and restrictions, SMBs may find 2022 to be another uphill challenge without proper legal counsel. Rocket Lawyer's survey outlines business trends that are helpful for SMBs to consider as they look forward to 2022.
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The CARES Act and PPP loans were available but resources were not fully utilized
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) authorized the creation of the Paycheck Protection Program (PPP), a U.S. Small Business Association-backed loan that helps businesses employ workforces during the pandemic. However, 55% of the SMB survey respondents didn't need a loan and only 21% applied for one.
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