by Andi Gray, president of Strategy Leaders
The year 2020 can’t end quickly enough for most small business owners.
Across the country, the pandemic forced many of them to close their operations temporarily – or permanently – and the continued economic uncertainty threatens to kill the ambitions of entrepreneurs who planned to launch businesses but now must put their dreams on hold.
None of that bodes well for the overall American economy. Small businesses make up 50 percent of the gross-domestic product and also employ half the workforce. What happens to them determines what happens to the overall economy. We as a country cannot afford to fail them.
Look at the 2008-11 banking crisis, a disturbing example of how a national crisis can sabotage entrepreneurship. In 2008, for the first time, the number of business starts fell below the number of business closures. In other words, more businesses were killed … Read the rest