Helping small businesses
Small businesses are getting hit especially hard right now. The first round of $349 billion of emergency loans is already gone and fewer than 6% of small businesses were able to apply before funds were gone.
As of 2018, 48% of jobs in the US came from small businesses. These are businesses with 500 or fewer employees and as the jobs reports have seen lately, unemployment is already estimated to be up to 18%, with more filings on the way on the coming weeks.
Big businesses like amazon, costco, target, etc have not only remained in operation, their sales have surged. Small businesses generally don't have the infrastructure and capital to respond quickly and, anecdotally speaking, seem to be adapting slower.
There are efforts to bolster small businesses, like a campaign from Etsy, and it's be great to see and hear more about these types of programs.
We believe strongly in the power of technology to help small businesses. As a small business, we both recognize how vital they are to the economy and understand how uniquely difficult each situation may be.
If you have a small business that needs help transitioning to the digital economy, get in touch and let's brainstorm some ideas.