Growing up, I was fortunate to have a front row seat watching my parents and grandparents either create or nurture a half-dozen SMBs. Following in their footsteps, I built two businesses that have had the opportunity to serve hundreds of thousands of other SMBs. That is why I feel a deep, lifelong connection to the SMB community.
One of the hardest things about this pandemic, is the devastating impact it is having on the SMB community. While no one is directly tracking the number of businesses that are in peril as a result of nearly three fourths of Americans staying inside our homes, we all know there are a lot of companies at risk under these circumstances. In addition to the human toll we are all contemplating, I worry about the magnitude of the toll this will take on SMBs and their employees.
With many businesses unable to serve their customers or assemble their products remotely, cash is no longer coming in which makes it impossible to pay employees and essential vendors. They need cash quickly so they can live to see another day. And they need to be reminded why they started their business - that what they do matters and makes customers happy.
Over the last two weeks the employees at Bill.com have adapted to working from home. I am proud of our team and the resiliency we’ve all shown. Because we are founded on the premise of being a champion for SMBs and my deep connection to the SMB community, we have been eager to find ways to help those businesses severely impacted by COVID-19.
I believe the impact will differ based on each business’s unique situation. Some businesses need immediate help figuring out how to work remotely. Some need help late at night or early in the morning because working from home requires a different set of work hours. And some just need access to cash to keep the lights on.
In response here is what we are doing:
Extending service and support hours to help people who are balancing work and home schedules.
Joining the Small Business Relief Initiative to support businesses that need cash to survive.
Bill.com will donate $100,000 and will give our roughly 600 employees $50 each to fund their favorite business that needs help with a GoFundMe campaign.
In addition, I will personally match our $30k employee donations.
SMBs are a vital part of every community. It is the sweat and blood of the SMB that provides our favorite store, restaurant, and service with the passion that unites a community. Passion is one of our corporate values and is something that is worth celebrating and protecting. I ask you to please join me --- use the #istandforsmallbusiness hashtag and tag FIVE SMBs that you love in your community and want them to know you care. You can help these businesses by encouraging them to set up a GoFundMe page to qualify for a grant from The Small Business Relief Fund as part of The Small Business Relief Initiative. Once they have their GoFundMe page set up, you can donate directly to them. Thank you.