Resources to Support Social Entrepreneurs During the COVID-19 Crisis

Jump to: COVID-19 Information and Guidance for Business Owners // Emergency Funding Sources // Networks // Strategic Analysis // Resources For Small and Medium-sized Businesses (SMEs) // Resources for UK Impact Organizations

Social entrepreneurs, the world needs you now more than ever.

As innovators who have dedicated yourselves to helping the world’s most vulnerable people and communities, your knowledge and passionate dedication to equitably and sustainably solving social challenges will be invaluable in this time of global vulnerability.

We know that entrepreneurs around the world are finding themselves up against new obstacles in the midst of the growing COVID-19 crisis. To support you, your businesses, and your critically important work we have curated a list of helpful online sources of information and resources for social ventures.

COVID-19 Information and Guidance for Business Owners

• The World Health Organization is collecting all their resources on the Coronavirus disease (COVID-19) outbreak on this page including:
  • Travel advice
  • Access to research
  • Suggested protective measures
  • The latest news and updates

• The US Chamber offers a resource called the Global Dashboard on COVID-19 Government Policies. It is being updated with up to date government policies across the globe regarding COVID.
• The CDC offers a resource called Interim Guidance for Businesses and Employers Plan, Prepare and Respond to Coronavirus Disease 2019 covers:
  • Recommended strategies for employers to use now
  • Planning Considerations
  • Recommendations for an Infectious Disease Outbreak Response Plan

Emergency Funding Sources

• CASE at Duke University in collaboration with the World Economic Forum, has launched www.covidcap.com, a searchable database of emergency funds available to non-profit and for-profit entrepreneurs during COVID-19, which contains global capital relief offers worth over $1 trillion. Use the site to search for resources, enter your cash needs, add listings, and volunteer to help.
• Y Combinator is offering fast-track funding applications for promising startups providing solutions for COVID-19 related challenges. Read more here.
• ActionAgainstCorona.org is a new initiative from Norrsken for startups, projects, or initiatives with solutions for challenges related to COVID-19.
  • Connect with organizations working on solutions
  • Apply for funding
  • Access talent
• Open Road Alliance invests in social impact organizations experiencing “unexpected roadblocks during implementation.” Their investments are not screened based on sector or geographic focus, but your work must be at the mid-implementation stage to qualify.
• The United States Small Business Association (SBA) announced in a press release titled SBA to Provide Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19) on March 12, 2020 that it will offer low-interest loans for up to $2 million for eligible small businesses and nonprofits in the United States that have sustained “substantial economic injury” due to the spread of the coronavirus. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
• For small social ventures in the US, the $2 trillion stimulus package provides funding for a Paycheck Protection Program that will be overseen by the US Small Business Administration. This program will distribute $350 billion to qualifying small businesses (must have 500 or fewer employees) that can be partially forgiven if the companies meet certain requirements. For more information on the new government funding, read this Marketwatch article: Here’s what the historic $2 trillion coronavirus stimulus package will do to help small businesses

Networks

• MicroMentor, a project of Mercy Corps, is pledging to support 100,000 entrepreneurs around the world with the mentoring support they need to recover emotionally and financially from the impact of the COVID-19 pandemic. Visit their COVID-19 Resource Center at micromentor.org/coronavirus-and-small-business/ to learn more and sign up to receive mentoring.
• The World Economic Forum, with support from the World Health Organization, has created a COVID Action Platform.
  • Because they believe that, “only coordinated action by business, combined with global, multi-stakeholder cooperation – at exceptional scale and speed – can potentially mitigate the risk and impact of this unprecedented crisis” they have created a global platform to convene the business community for collective action to protect people’s livelihoods and facilitate business continuity, and mobilize support for the COVID-19 response.”

• The Aspen Network of Development Entrepreneurs (ANDE) has created a page on their website that details ANDE’s Response to COVID-19
  • This page provides information on ANDE’s organizational plans and protocols and a list of helpful resources on COVID-19.

• SOCAP will be drawing upon our networks of impact investors, social entrepreneurs, and leaders in the impact space to offer ongoing information and support including entrepreneur focused virtual experiences. Details coming soon. Follow @SOCAPmarkets on Twitter, visit our Facebook page, or sign up for our email list to stay connected and receive updates.

Strategic Analysis

• McKinsey has produced a COVID-19 Briefing Note that:
  • Covers the current situation
  • Presents possible future scenarios
  • Suggestions actions that companies should consider taking now to protect employees, engage customers, stabilize supply chains, and
  • Provides “leading indicator” dashboards for China, Middle East, Europe, The Americas, and South Asia

Resources For Small and Medium-sized Businesses (SMEs)

• Video from Vusi Thembekwayo: How Coronavirus will affect your small business
  • Thembekwayo shares five steps he thinks all small business owners should take immediately.

• The US Small Business Administration (SBA): Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19), addresses:
  • Common issues small business owners are facing with suggestions
  • Potential solutions for challenges related to access to capital
  • Exporting assistance
  • Help with government contracting (especially for women-owned ventures and small businesses owned by socially and economically disadvantaged people or entities
• US Chamber of Commerce: 5 Resources to Help Your Small Business Survive the Coronavirus and Coronavirus Response Toolkit

Resources for UK Impact Organizations

• The UK organization Good Finance has released this resource: Social Investors Respond to COVID-19. They are also developing a hub for sharing information and resources to help social enterprises navigate the crisis.
• The UK Government is updating this resource: COVID-19: guidance for employees, employers and businesses about the novel coronavirus
• School for Social Entrepreneurs has put together this full resource for impact organizations in the UK Coronavirus: How social enterprises & charities can prepare

More to Come

Social Entrepreneurs have always been at the heart of SOCAP. We will be reaching out to our past scholarship recipients to learn more about your needs and continue to provide you with trustworthy, helpful information and valuable resources. If you are not already, sign up for our email list to receive the latest news and resources direct to your in-box.

We want to hear from you! If you have information you want to get out to this community, visit our How to Write for SOCAP page.

If you have a website or other resource that should be listed here that is not mentioned, please email [email protected]. We will continue to update this post as we discover new resources.