Author: Bruce Katz, Colin Higgins, Ross Baird
Published: March 18, 2020
Workstream: Capital
Media format: Newsletter
Small businesses, which employ half of Americans, face imminent collapse due to cash shortages and the economic shock of social distancing. Existing relief efforts are insufficient in scale, poorly designed for this crisis, and hindered by bureaucratic inefficiencies.
Immediate action is needed, including large-scale emergency funding, simplified loan programs, and local government interventions to sustain small businesses and prevent long-term economic devastation.