Second shutdown hits small business

NEW BIZ STORY: Many of us, when we're sick, try to focus on the relief we expect to feel as our illness passes. We set our expectations for how long it will take us to heal, and knowing there's a light at the end of the tunnel helps us endure the pain and discomfort we feel. Small business owners trying to weather the coronavirus pandemic have been doing something similar. They've tried to focus on a date in the future when things might improve, when revenue might start to pick up again, when customers might return. But that point is moving farther and farther into the future as cases of #COVID19 continue to rise across a majority of the United States. For some business owners, it is now too distant to reach. They're closing for good. If this trend continues, it could put a major drag on the economy for years to come. My latest:

All 50 states had started reopening but several have now either paused their efforts or started backtracking amid a resurgence in Covid-19 infections. As our Statista chart at https://lnkd.in/dmRn9K7 shows, Arizona, California, Texas and Florida had all made u-turns with bars, beaches, cafes and nightclubs shuttering again by the end of June. By mid-July they had been joined by Nevada, Colorado, New Mexico, Louisiana and Michigan, according to The New York Times.

NEW BIZ STORY: Many of us, when we're sick, try to focus on the relief we expect to feel as our illness passes. We set our expectations for how long it will take us to heal, and knowing there's a light at the end of the tunnel helps us endure the pain and discomfort we feel. Small business owners trying to weather the coronavirus pandemic have been doing something similar. They've tried to focus on a date in the future when things might improve, when revenue might start to pick up again, when customers might return. But that point is moving farther and farther into the future as cases of #COVID19 continue to rise across a majority of the United States. For some business owners, it is now too distant to reach. They're closing for good. If this trend continues, it could put a major drag on the economy for years to come. My latest:

And it begins! There is only so much that small business owners can take before they get to that breaking point. And there is only so much the banks and investors can do to help them out. This off again, on again process will continue to destroy our small businesses because they don't have the resources to continue operating without customers. And innovation only goes so far for certain business sectors. My heart goes out to those Americans that are truly hurting right now. That includes more than just business owners. There are millions of renters out there that are facing some very scary possibilities right now, yet the markets seem to be humming along as if COVID is behind us. Very strange. #sba #smallbusiness #covid-19 #recession

And it begins! There is only so much that small business owners can take before they get to that breaking point. And there is only so much the banks and investors can do to help them out. This off again, on again process will continue to destroy our small businesses because they don't have the resources to continue operating without customers. And innovation only goes so far for certain business sectors. My heart goes out to those Americans that are truly hurting right now. That includes more than just business owners. There are millions of renters out there that are facing some very scary possibilities right now, yet the markets seem to be humming along as if COVID is behind us. Very strange. #sba #smallbusiness #covid-19 #recession

As we celebrate Independence Day, we need to realize that economic independence for small and minority-owned businesses remains essential to a stronger and more complete economic recovery. This week's article focuses on steps policy and finance leaders can take to address the minority wealth gap and create a recovery that reaches all parts of the economy and society. #minoritywealthgap #capitalaccess #milkeninstitute #economics #ppp #covid19 #recovery #economicgrowth

Restaurants that just recently reopened are closing their doors again either because of state regulations or because of infections among their staff, highlighting the difficulty of generating revenue in the midst of a global pandemic: https://lnkd.in/gAnbUBM. New York City is the latest to mandate restaurants halt their plans to resume indoor dining, following California's announcement that eateries in 19 of its most populous counties do the same after cases continue to climb. Texas, meanwhile, is reducing indoor capacity for its restaurants to 50% and Florida has mandated bars no longer serve alcohol. What does the reversal of allowing indoor dining and the closures of mean for your business? #LinkedInSmallBusiness #smallbusiness #coronavirus #restaurants ??:: Getty Images

Restaurants that just recently reopened are closing their doors again either because of state regulations or because of infections among their staff, highlighting the difficulty of generating revenue in the midst of a global pandemic: https://lnkd.in/gAnbUBM. New York City is the latest to mandate restaurants halt their plans to resume indoor dining, following California's announcement that eateries in 19 of its most populous counties do the same after cases continue to climb. Texas, meanwhile, is reducing indoor capacity for its restaurants to 50% and Florida has mandated bars no longer serve alcohol. What does the reversal of allowing indoor dining and the closures of mean for your business? #LinkedInSmallBusiness #smallbusiness #coronavirus #restaurants ??:: Getty Images

Restaurants that just recently reopened are closing their doors again either because of state regulations or because of infections among their staff, highlighting the difficulty of generating revenue in the midst of a global pandemic: https://lnkd.in/gAnbUBM. New York City is the latest to mandate restaurants halt their plans to resume indoor dining, following California's announcement that eateries in 19 of its most populous counties do the same after cases continue to climb. Texas, meanwhile, is reducing indoor capacity for its restaurants to 50% and Florida has mandated bars no longer serve alcohol. What does the reversal of allowing indoor dining and the closures of mean for your business? #LinkedInSmallBusiness #smallbusiness #coronavirus #restaurants ??:: Getty Images