Poll: one in four business on brink of permanent collapse...
[thefederalist.com]
A new poll from the U.S. Chamber of Commerce and MetLife released Friday reveals a grim picture for small businesses facing devastating losses from the crisis over the Wuhan coronavirus.
According to the nationwide survey of roughly 500 small business owners including individuals in Alaska and Hawaii, 24 percent, or one in four said they are just two months or less from closing their doors for good as states and local governments keep them shut down over the pandemic. Ten percent, or one in ten small businesses reported they would be closing permanently in less than a month if they were forced to remain closed.
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Feel free to reply to any comment by clicking the "Reply" button.More fearmongering. The 2.2 trillion bill contained several hundred billion (yes billion) in SBA support for small businesses. Finally a better use for the SBA than funding addicts for "recovery" from hurricanes.
TimTuolomne
Level 9
Apr 3, 2020
1
Yes that will work for the next four weeks. And then we spend another $2tr for the next four weeks...
And then we realise, oh it’s gonna be 16 weeks... we need another $4tr before this is over...
Oh shit, how are we gonna repay the $8tr?
I don’t know the answer either... but we are screwed.
@Hanno, I'm already seeing an inflection point on the number of new cases, which leads me to believe the peak of infections is quite near. The peak deaths may be a week or two behind. With any luck one shot of the business funds will keep them from folding.
I'm no fan of government spending on this scale, when the annual production of the entire World is only 30 trillion. We are already set up to fail. This only makes it worse.
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