Small Business Blues

Closed for Good
False Start
Small Businesses Need Customers
It’s a Global Depression
Noncreative Protection
Puerto Rico and Maddening COVID Data

Politicians love saying small businesses are important to the economy. In this case, it isn’t just rhetoric. The millions of little companies with a handful of workers are, collectively, more important than the few hundred large enterprises we see in the news.

That’s one reason the corona crisis has been so economically devastating. It hit hardest the small businesses that are both critical to growth and vulnerable to disasters. Yes, I know, some large businesses have been eviscerated (e.g., airlines) but small business have been hit harder. Furthermore, the policy responses haven’t been especially helpful or equal, either, and possibly harmful. This will have wide-reaching, long-term effects. Today we will discuss them.

I should mention, I’ve been one of those small business owners or managers my entire career. I know how it feels when employees are like family (or perhaps literally are), the desire to protect them as any parent or friend would, and the agony when you can’t. This situation hasn’t just cost jobs and income. It’s killed hopes and dreams.

The good news: Dreams are a renewable resource. We can replace the lost ones. We’ll talk about that, too.