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Are US small businesses ‘gone forever’? No, not all of them | Gene Marks

https://www.theguardian.com/business/2020/aug/21/us-small-businesses-future-coronavirus-pandemic-economy

If there’s one thing I’ve learned about small businesses it’s that you can’t just lump them all together to support a narrative, be it moral or political

Just a few weeks ago, a New York Times article warned that as many as one-third of New York’s small businesses could be “gone forever”. Bloomberg reports that small businesses are “dying by the thousands”. Business bankruptcies in Maryland have reached a “staggering state”. There are countless stories like these around the US and none of them sound very good. So are things that bad for small businesses? Is there not a great need for billions in new stimulus funding to save them? The short answer is no. Well, not for all of them.

America is a big country with 30m small businesses. And if there’s one thing I’ve learned about small businesses it’s that you can’t just lump them all together to support a narrative, be it moral or political.

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