Small Business Is Hurting Real Bad!
Small business, the self employed, sole proprietorships are the fabric of our country. They are the epitome of the American Dream. We inherited business from family and made it better or saved as much as we could to live the American Dream of owning our own business. The only thing that has changed over the years is the technology.
We have stuck it out through thick and thin, natural and economic disasters but our American spirit has always risen to the occasion. That spirit is so strong, we stayed focus and through unpredictable circumstances we overcame. There's something about our American Spirit, its a part of all of us.
So, when it comes to helping us during this terrible Covid-19 Pandemic, we need help. Our government says they need to inject lots of money toward our cause of getting back our business to start getting business back. But government has failed to realize that money isn;t always the solution. It helps but not the cure all to end all.
I know this blog took a definite right turn but I have to say my opinion. Yes, I may lose some followers and I apologize but I'm not taking anyone side in the political system.
Let's think this through my suggestion or opinion.
During the best of times business operating at 100% full capacity and rent or lease can be sustained by the entrepreneur at 100%. So, lets say 80% of food service is dining inside and 20% is carry out orders. So the Pandemic eliminated dining in service. Even today, the probability of contamination inside an establishment is much higher especially higher if your not wearing a face mask. Let's despite the owners intent to open, the expense in precautions on contamination and reassuring the public that everything is ok will take time. The owners make the decision to close down the inside dining but emphasize curbside or delivery. In so doing, they will be generating 20% of revenues but the rent or lease is at 100%. If curbside service and delivery is the new wave of the future then logically, the rent or lese must be adjusted accordingly. Landlords are leasing/renting to make money but let's be serious, they need to know "We Are All In This Together" They should adjust their lease or rent accordingly to allow the entrepreneur to make some money. They need to go to their lending institution and ask for help. By doing this may not require as much money than the 2 trillion dollar bailout which may hurt us long term as a country overall. If anything, maybe a fraction of that money would help comply with CDC guidelines to minimize the spread of the virus. That's it!!!!
BUT this is an election year and there's a lot at stake. Doesn't matter and that's the curve ball that has complicated matters and confusion and total chaos for a uniform standrd operating procedure.
Obviously, these lending institutions are multinational and have a lot of investment income. These guys don't even twitch an eyelid when loaning highly speculative risk with millions of dollars. Now the role of the Federal government is to pass legislation to require these multinational financial to cut back and assist the commercial investors. Believe me when times are better they will make their money back but right now we must balance our economy while following a federal strategy to bring our nation together on how to address the Covid-19 pandemic.
So, what hope is there? I cannot answer this question as I'm suffering along with all other business owners. We'll haver to allow our State governments to offer their guidance. We need to listen to them no matter how frustrated we are. Stay safe my friends and follow these 3 requirements to stay safe: 1. Wash your hands for 20 seconds, wear or carry a face mask if 6 " social distancing is not possible and 3. Shelter In Place" whenever possible.
We are helping each other and ourselves to contain this virus. Again "We Are In It Together"