Will More Go Bankrupt Than Die from Coronavirus?
It’s a very competitive world out there. No group is more aware of this than the small business owner.
Customers are the life blood of every business and when no one comes through the door that business is lost forever for some businesses.
Especially the restaurant business.
You Can’t Get It Back
If you don’t go to your favorite restaurant this month — then chances are you won’t go twice next month to make it up to the business owner.
Your monthly visit is gone forever to that business.
Buying a car is different. You might put it off a month, but you still buy it somewhere down the road. No pun intended there.
So that car sale is not lost to the business just postponed.
For many businesses the inability to make up lost business could lead to the failure of that business.
Enter the Coronavirus that is keeping people home, — away from crowds, entertainment, sporting events, shopping and other gatherings.
Some Final Thoughts
As of this writing the death toll from the virus is low. However. that could change in the coming weeks and months.
How long can small business hold out before laying off workers or workers coming to work sick and contaminating the business?
Every small business closure has the effect of putting five people plus their family members out of the employment picture and more demand on government.
Will things get worse before they get better? Probably.
As we ride out this crisis please support your local small business owners any way you safely can. Our local economy depends on it.