Sunday, the President of the US Chamber of Commerce said its latest poll shows a “terrifying” fact that 1out of 10 members say they are less than a month away from permanently “going out of business“.
In a TV interview Chamber head Suzanne Clark said the poll also showed “something like 50% of small businesses say that they were 8 weeks away from closing forever.”
“It’s really terrifying these numbers,” she said.
“And so that’s why these bridge programs are so important. But also why it is so important that we start to think about reopening in a gradual, phased-in way.”
“We know that certain regions were hit harder by the coronavirus than others,” she continued. “We also know that there were certain regions that weren’t hit as hard. We know that certain sectors… will have a harder time coming back. But there are other sectors that may be able to open.”
She said in the end, getting businesses open will be the determinant of how effective the economic recovery is.
“The faster that we can get people back to work… and the faster we can get paychecks into their hands and get these businesses to open, the sharper and faster the recovery will be,” she said.
Have a healthy week, Keep the Faith!