Empowering Local Businesses During the Covid-19 Economy and Beyond
15 Dec 2020
Small businesses are critical to local economic development, yet there are several barriers holding them back in the path to prosperity. As we adjust to changes forced upon us by the pandemic, it is critical that we work to bridge the gap in services and support systems available for these enterprises compared to those for larger corporations.
According to the National Bureau of Economic Development, “the number of active business owners in the United States plummeted by 3.3 million, or 22 percent, over the crucial two-month window from February to April 2020” alone.
I personally witnessed the sudden impact of the pandemic on my start-up, Punch List, which saw metrics drop 75-80% in those early weeks. The implications lead to some of the most frightening periods of my career, one that has spanned several roles dedicated to building tools for small and medium-sized businesses.
In order to boost recovery, while creating impactful and sustainable change, we must work to level the playing field for these enterprises that are the heart of this country. So what can we do?
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