Can Small Businesses Survive Another COVID-19 Shutdown?
Small businesses bore the brunt of the economic hardship posed by the early coronavirus shutdowns. Now they're looking at the possibility of closing again. NBC's Chris Clackum reports.
(NBC News) There’s little argument small businesses bore the brunt of the economic meltdown caused by the COVID-19 crisis.
“In some occasions we have planned and re-planned people’s events three times now,” says Jill Marcus of Something Classic Catering.
Minority-owned businesses have been especially hard hit.
Some analysts, though, say they’re seeing many businesses adapt.
“They don’t want to go out of business so they are finding ways to be more efficient, more productive with the employees they do have,” notes Johnny C. Taylor, Jr. of the Society for Human Resources Management.
Still, small business advocates say recovery will require equal treatment from Washington, which hasn’t happened so far.
“We’ve seen this country bail out major industries. Remember, small businesses – we employ over half of the people in this country. We always seem to get the shaft,” says Shaundell Newsome, co-chair of Small Business for America’s Future.
Another round of small business relief is underway, with owners hoping it’ll be better than the first.
Read more here.