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The Leisure and hospitality industry has a long way to go to fully recover after reopening

Setting aside the fact that it will be long before the industry fully opens, there are some issues that present more acute issues to businesses specific in this sector. For instance the April employment numbers show the industry has had the highest loss of employment. This means it will be costly for businesses to rehire and let alone return to normal operating capacity or expand once they reopen. Businesses will also face issues attracting customers as well as complying with social distancing rules....

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Let My People Go! MN One of Only Ten States Still Banning Church Services

Minnesota remains one of only ten states that still outright ban church services of any size under government restrictions imposed during the statewide shutdown ordered by Gov. Tim Walz. But that could change with the lawsuit filed this week against the state's selective enforcement of restrictions on public gatherings on behalf of a coalition of churches and businesses by the Upper Midwest Law Center. The legal challenge accuses Walz, Minnesota Attorney General Keith Ellison and several county attorneys of infringing on Minnesotans' constitutional rights under the First, Fifth and Fourteenth Amendments and received widespread media coverage, including the Star Tribune. In a...

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While Minnesota Sends Police to Shut Down A Barbershop, Texas Gives Guidelines For Today’s Reopening

By now many people have heard the story of King Milan's Barbershop, the St. Paul barbershop that now faces up to $25,000 in fines after the police were dispatched to close down the business on Monday after the owner, Milan Dennie, opened up the shop during Governor Walz's recently-extended Stay-At-Home order. Meanwhile, in Texas, the state has provided health and safety guidelines to allow barbershops, hair salons, nail salons, and tanning salons to begin reopening today. Reopening Guidelines for Barbershops, Hair Salons, Nail Salons, and Tanning Salons According to the Texas Tribune, hair salons, barbershops, nail salons and tanning salons can reopen today, with some...

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Minnesota Has Highest COVID-19 Death Rate, and Highest Unemployment Rate, Out of Any Neighboring State

Nearly 625,000 Minnesotans have filed for unemployment since mid-March, and every day seems to bring new headlines of small businesses that will not survive the Coronavirus shutdown. Minnesota now has the highest unemployment rate of any of our neighboring states, according to the Tax Foundation. Despite the highest rate of unemployment in our area, Minnesota also has the distinction of having the highest COVID-19 death rate among these states, as well. In other words, it appears Minnesota has the worst of both worlds. Unemployment Rates The graph below was created by the Tax Foundation. It shows unemployment compensation claims as a percentage of...

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The SEC has loosened regulation to make it easier for businesses to raise capital

During the duration of the pandemic amendments have been made to temporarily suspend regulation in order to make it easier for businesses to operate. The latest change in regulation has come from the Securities Exchange Commission (SEC) which wishes to make it easier for small businesses to obtain capital through crowdfunding offerings. To accomplish this; “The SEC this week Decided to temporarily exempt small business owners from needing to get an independent audit of their financial statements if they sell between $107,000 and $250,000 in securities within a 12-month period. It also removes a 21-day waiting period before businesses can use the money...

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