Leisure Venues Have Reopened. We Examined Efforts to Support Them Throughout the Pandemic – Authorities Accountability Workplace - 24line

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الأحد، 16 أكتوبر 2022

Leisure Venues Have Reopened. We Examined Efforts to Support Them Throughout the Pandemic – Authorities Accountability Workplace

This previous summer season marked the return to dwell live shows and film theaters for many people. However, the pandemic created vital financial hardships for these venues and plenty of others within the arts and leisure trade. For instance, based on the Bureau of Labor Statistics, the unemployment charge for the trade reached 47% in April 2020, and remained elevated into 2021.

To assist these companies, Congress created the Shuttered Venue Operators Grant (SVOG) program, which offered $14.6 billion in monetary help to leisure companies adversely affected by COVID-19.

At this time’s WatchBlog submit appears at our new report on who this system helped, and the teachings it gives for future emergency help applications.

 

Who acquired cash and the way a lot?

SVOG funding was accessible to a focused group of companies, together with dwell leisure producers, organizations, and venues. Companies may use these grants to cowl working bills equivalent to payroll, hire or mortgage funds, and utility funds. To be eligible for this system, leisure companies needed to have misplaced not less than 25% of their income because of the pandemic.

This system was solely open to candidates for a brief period of time—from April to August 2021. However throughout that brief time, greater than 17,000 companies utilized. The Small Enterprise Administration (SBA), which runs this system, awarded $14.6 billion in grants to over 13,000 of the candidates. Most denied functions didn’t meet the grant program’s eligibility necessities.

Grant quantities have been based mostly on every enterprise’s pre-pandemic income, capped at $10 million. Over 90% of grant recipients have been small companies with 50 or fewer staff.

 

How can SBA higher guarantee emergency funding reaches eligible companies?

Nationwide, greater than 30 million small companies skilled decreased revenues or closures due to COVID-19. Due to this fact, SBA had the problem of offering support shortly to leisure venues. However appearing shortly may make this system extra susceptible to fraud and associated points. 

We have now reported on challenges SBA confronted implementing these applications, together with fraud and insufficient communication.  

Our assessment of the SVOG program revealed that whereas this system was higher managed in some facets than another SBA COVID reduction applications, SBA may enhance its communications and buyer assist, and enhance its efforts to watch dangers to this system, equivalent to identification theft.

In our new report, we made two suggestions to SBA that will assist enhance communication with companies that search emergency help and improve the company’s efforts to determine and deal with fraud. Discover out extra by studying our new report.




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