Why We Need Small Businesses

Recently, America witnessed the passing of 2020 and the start of the new year. Everyone can probably agree that 2020 was a lousy year for numerous reasons, and many are optimistic about what the new year will bring. That being said, America can only get so far with hope. What will truly make a difference is an action from the pharmaceutical industry and leading political figures. Many people have experienced difficulties and hardships in the last year, and perhaps the most unfortunate of them all are those employed in small businesses.

 

With many places having been shut down, it is commonplace to see advertisements or articles talking about how celebrities have coped and struggled with being trapped in their five-story mansions, unable to go party on yachts the size of buildings with all of their rich friends. Millions of other normal people complain about being bored at home, but those who should truly be complaining are those who work in or own small businesses. Small businesses can include restaurants, theaters, bars, etc. Many small businesses are closed or heavily restricted, and the owners and the employees can’t work from home.

 

With so many small businesses already struggling to stay afloat, it would be a miracle for small businesses to survive through a heavily regulated period in a lockdown. If the lockdown continues, soon enough, the only businesses around would be massive chains such as McDonald’s, Costco, etc. In 2020, six percent more of small businesses estimated annual sales at less than $50,000 than in 2018. Larger small businesses were also affected, with 5% less estimating annual sales to be over $200,000 than in 2018. These are just what they make in sales, and this is before they calculate the costs of running a business. The actual profit that these business owners make is usually far less than they earn by making sales.

 

Small businesses are a vital part of the U.S. economy, with over 31 million different small businesses creating jobs for the people. Without all of these small businesses creating jobs, it would be almost impossible for many of those employed by small businesses currently to find a job. During New Year’s Eve, the State of Florida was much freer than California. New Year’s Eve is such a big night for so many small businesses. Since businesses had much fewer regulations in Florida than in California, California businesses are being left behind. It is imperative that the lockdown ends as soon as possible to help small enterprises to land on their feet.

 

https://www.businessknowhow.com/money/earn.htm