As most of America remains in lockdown, small businesses are taking the biggest hit. Sen. Mike Braun, R-IN., said “small businesses aren't generally going to be equipped with lines of credit.”
Most small businesses rely on liquid currency to function, and with the country’s economy practically shutdown, the effects can create irreversible damage.
“Many small business owners live out of their business, [and] maintain cash balances that are more hand-to-mouth,” Braun told Fox News. “And it's impacted the restaurants and bars, in hair salons, the service economy disproportionately hard.”
With the current stimulus bill being carried out and Americans receiving their checks this week, the question on many people’s minds is: Does this bill offer adequate support to small businesses? Braun said what has been done so far is just a temporary measure and that the U.S. government “shouldn’t be expected to replace the dollar” in a real economy.
“Everything that small businesses are enduring is a result of the government trying to tamp down the disease. And we know that needs to be done until that's accomplished. There's going to be great national anxiety out there and it's going to impact all businesses,” Braun explained.
More here
https://www.foxnews.com/politics/exclusive-sen-mike-braun-on-small-businesses-and-the-effort-to-recover
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
never, could I have imagined. My little business of 42 years of hard work, with the most loyal, honest and respectful employees, is one that doe's not need help, will not lay off, and will continue to provide a service as long as the phone rings. I always had the creeping fear that some competitor would threaten, but I have seen a dozen come and go. I am 66 YO, and this town has been so good to my family, I will still go to work every day. No need to say who I am, many of you know me, just be strong, be safe, and support your local business.
ReplyDeletemeanwhile...https://www.bloomberg.com/news/articles/2019-05-23/kushner-cos-gets-800-million-federally-backed-apartment-loan?fbclid=IwAR1Wp8fEimCT7Q1BpCM1uz76xbT4pTklXoPVUJNqivdGrUI3-eRQ-PkCeJo
ReplyDeleteDid anyone see the interview with Nancy Pelosi showing off her collection (freezer full)of $12.00 a pint of Jeni's ice cream (and Starbucks) to help her thru the Virus quarantine. She has 2 not 1 Wolf Sub-Zero freezers in the back ground. Total cost around 26,000.00. I would bet my last dime that she didn't pay for either the ice cream or the freezers because she is a politician (especially a Democrat).
ReplyDeleteMost of the PPP funding went to big businesses that have politicians on the payroll.
ReplyDeleteYes, and as usual the small business will suffer. A lot of rich people have made a lot of money from this. But send the poor back to work.
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