These quick tips are designed to help you get through these hard times. If you have any tips that you want to share, send them to email@example.com(opens in a new tab)
Most U.S. business owners breathed a sigh of relief on 27th March when the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). But the 880-page document is not the easiest afternoon reading, especially for tour operators inundated with tasks to try and keep their businesses afloat during this difficult time. Luckily for us, the U.S. Travel Association(opens in a new tab) has done the hard work of sifting through the act and presenting the travel industry with comprehensive guides on how it can benefit them.
The CEO of U.S. Travel, Roger Dow, has shared relevant highlights of the new legislation and the various resources his company has provided to help navigate the document via LinkedIn(opens in a new tab). As the largest relief package in the nation’s history, it’s vital that travel companies understand their rights in regards to obtaining funding, something U.S. Travel has really tried to clarify through their handbooks. Not only have they produced detailed guides on how to check eligibility(opens in a new tab) for various aid schemes, but they have also recorded an extensive 90-minute webinar (opens in a new tab)on how to navigate the specifics of the act. They discuss the details of the different loan packages, financial assistance for impacted businesses, grants, and tax relief, all in digestible segments for overwhelmed travel industry members.
Skift has also hosted a webinar(opens in a new tab) on the topic, dissecting how the new stimulus package will affect the travel industry in the U.S. Their impressive panel of editors, research analysts, and the executive vice president of public affairs and policy at the U.S. Travel Association, Tori Barnes, provide a reliable source of up-to-date information and advice. The recording is easily accessible on their site following a quick registration.
Ultimately, the aim of the act is to help stabilize businesses and communities, and provide funds to prevent worker layoffs. It could be essential to the survival of your business, so make sure to familiarise yourself with these resources in order to make the most of this financial aid.
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