OP-ED: The Pandemic Lifeline for Small Business

Inside Sources | June 8, 2020

In the United States, there are approximately 30.7 million small businesses employing as many as 60 million Americans.

According to the Small Business Administration, from 2016 to 2019 just under 2 million new small businesses were created and as a result, 3.1 million jobs. However, due to the outbreak of the coronavirus, small businesses have been hit exceptionally hard, as more than 41 million Americans have lost their jobs in just 10 weeks.

Across the nation, non-essential businesses had to shut their doors to help flatten the curve. While it may be essential from a public health perspective to do everything necessary to limit the spread of this virus, we cannot overlook the devastating effect that mitigation efforts have had on small businesses.

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