Thursday, April 23, 2020

Currently...

"A fellow small business owner wrote this and it hits home for all of us small business owners.
The money is gone. The stimulus package intended to help small businesses has been officially depleted. Like so many fellow entrepreneurs, I had hope. I feel like a fool admitting that now, though.
I’ve spent these past few weeks filling out endless applications, scanning documents, and waiting on hold for hours. When the stimulus package passed with specific funding for the self employed, I was on it. I applied for just enough to cover our overhead for a couple months, and then waited patiently. With funds being made available to businesses employing as many as 500 people, our little family business felt like a relative drop in the bucket. I felt optimistic... I felt validated... I should have known better.
Thanks to a successful lobbying campaign, the federal government's idea of a small business includes corporate owned restaurant franchises, hedge fund managers, and companies owning multiple hotel chains. Businesses of this size often employ full time chief financial officers and already have existing lending relationships with banks. It’s no wonder there was nothing left for the little Mom and Pop shops like us. But take heart, America:
Potbelly Corp, a chain of over 400 restaurants, got $10 million.
Wave Life Sciences, a biotech company incorporated in Singapore, secured $7.2 million.
Ruth’s Hospitality Group Inc., a company with more than 5,000 workers, received $20 million in forgivable loans.
Hersha Hospitality Trust, a hotel company that had over $1.5 billion in revenue last year, has applied for more than 50 loans, listing each of their locations as a separate entity.
Apparently, our representatives need a reminder of what small business really looks like. I know I am not the only one feeling abandoned and unappreciated right now. The problem is that the sole proprietors and entrepreneurs of this country tend to be too proud to speak up. We’re a fiercely independent bunch. I’ll admit, just writing these words has been a difficult challenge for me.
But right now America needs to hear from us. All of us. I want to see the faces of the shopkeepers, the restaurateurs, barbershops, and the salon owners who are being affected by this pandemic. I want to look right into the eyes of the artists, musicians, and event promoters who have lost their livelihoods. I want to hear from the farmers, seamstresses, and personal trainers who are struggling to make ends meet. We need to know the plight of the butchers, the bakers, and yes, the candlestick makers. Because we are the true faces of small business.
So please feel free to copy & paste this with your own picture, so all of America can see what is truly at stake here."

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