Small business is the backbone of the economy. Small businesses are also a radiating pain point during this devastating economic downturn.<\/p>\n
According to WBUR in Boston<\/a>, earlier this summer, MassINC Polling Group surveyed 1,868 small businesses (defined as having fewer than 500 employees). Their findings show that 44% of small businesses lost at least half of their revenue, and 20% lost at least a quarter of their revenue during the first half of the year compared to the same time period last year.<\/p>\n According to The New York Times<\/a>, the lack of tourists and commuters has devastated New York City, especially Manhattan. Since March, more than 2,800 businesses in the city have permanently closed. And by the time the pandemic is over, one-third of the city\u2019s 240,000 small businesses could be gone forever. This is a S C A R Y time to be in business, particularly when your business requires that customers enter your store.<\/p>\n The National Retail Federation is supporting The Small Business Comeback Act<\/a>, introduced by Representatives Filemon Vela<\/a>, D-Texas, and Lance Gooden<\/a>, R-Texas, which would create a Small Business Recovery Fund intended to supplement the Paycheck Protection Program and other provisions of the CARES Act passed this spring.<\/p>\n Knowing the situation on the ground, I like to see brands focus on helping entrepreneurs win.<\/p>\nTransactions Needed!<\/h2>\n