BUSINESS & TRANSACTIONS - SEC Revisits Stalled Rules for Clawing Back Executive Bonuses - Bloomberg Tax reported that the Securities and Exchange Commission.
February 8, 2021 A large share of small businesses in the District continue to feel the negative effects of COVID-19. In the first quarter, small- and medium-sized firms shed more than 15% of their employees year over year, only some of which recovered through June according to stats from ADP, a payroll processing firm. By the third quarter, the Census Bureau’s weekly Small Business Pulse Survey reported that three-quarters of small businesses nationally had felt negative impacts from the pandemic. The hardest-hit states in the District continue to be those with a high reliance on energy and tourism (such as Alaska and Hawaii) and those with more extensive COVID-19 restrictions and mandates (such as California and Washington). Unsurprisingly, the following sectors have reported the highest percentage of negative effects due to COVID-19: educational services, accommodation/ food service, health care, arts/entertainment, and other services such as spas, salons, and repair shop