A lot of businesses have died and are not coming back.
Small business is the backbone of this nation.
The former business owners don’t have the capital to open up again. They lost everything.
Mom and pops. Single businesses. Chains...
Every single day more permanent damage is being done.
I agree, the lock down has been devastating to entrepreneurs. We never should have locked down the economy. We should open back up immediately.
But it will come roaring back to fill the vacuum left by the financial carnage. The United States will lead the way, as always.
I speak from terrible experience
My thoughts....
Recessions weed out marginal businesses. This recession will be the same. Some will be reinvigorated. Some will start over. and, many former employees will take a chance and start their own business
The result will be new and different very small businesses that thrive by trial and error.
Banks are important. Those businesses judged to be fit will be provided loans.
In the current situation, Banks are forced to provide bad small business loans with government guarantees. They will have the headaches caused by the inability to repay the borrowed money.
Loan officers knew this and used up all the money on those deemed credit worthy. Those deemed marginal were not funded
How do you know “they won’t come back”? Some small businesses go broke every day even in the best economic times. The people survive by taking a job and/or later reopening a business.
I think it is “the plan” to break the American spirit.