08/05/2020

Building a bridge to 2021

As Congress continues to craft new legislation to address the economic impacts of the coronavirus pandemic, T3 Expo has been working alongside the Small Business Committees every step of the way to represent the events industry. We believe that new legislation should include a new assistance program for businesses modeled after the current successful PPP initiative and follow these principals. 

• It should target sectors of the economy with the longest road to recovery;
• It should focus on small businesses whose revenues have fallen considerably since last year;
• It should provide a mix of grants and loans that build on the PPP model for all businesses;
• It should allow existing PPP loan recipients to take out a second loan;
• It should provide adequate flexibility so small businesses can address their most pressing needs;
• It should recognize that many small businesses are already heavily leveraged, and ensure that this does not block their participation in new funding opportunities.

 

Industries that face the longest path to recovery need additional assistance to survive the pandemic. The live events industry is a prime example. Directly and indirectly, the industry supports 6.2 million jobs. 

The fundamentals of a solid recovery for the live events business are in place, with many events already on the books for 2021 and beyond. The thousands of small businesses that work full-time to support these events simply need a bridge to stay afloat until the economy fully re-opens. We can see the bridge, now let’s all work together to cross it successfully!