Small Businesses To Washington: Please Send Money Soon Or We Won’t Survive

With the US economy rapidly shutting down, small businesses around the nation are being threatened. They are all asking the federal government one thing: Please send money quickly or our businesses will shut down.

Small businesses operate similarly to people living paycheck to paycheck. According to a study by the JPMorgan Chase Institute, companies with less than 500 employees have less than a month of cash reserves. Smaller Main Street type businesses will only have just a few weeks worth of cash to keep them operating.

Many businesses are just grounding to a halt as steps to stop the coronavirus take effect.

Calvert Thompson, runs a massage and spa business in Herndon, Va, he explained “Today, actually, we had zero clients, we have 13 full-time W-2 employees and I’m definitely trying to figure out what I can do to help keep all of our heads above water during this.”

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Firms await stimulus, warn of layoffs: Ficci survey on coronavirus impact

With coronavirus pandemic acquiring a ‘deep impact’ on Indian companies, careers are at hazard above the coming months as companies are looking at some reduction in manpower, says an market survey.

The Covid-19 disaster has previously induced an unparalleled collapse in economic actions above the past few weeks, it provides.

The survey, jointly executed by market human body Ficci and tax consultancy Dhruva Advisors by looking for responses from about 380 organizations across sectors, also stated that companies are grappling with “incredible uncertainty” about their future.

Just about 72 for each cent of the respondents stated that the existing problem is acquiring a “high to really high” degree of effect on their business enterprise.

A considerable the greater part of the respondents do not foresee a optimistic demand from customers outlook for their business enterprise in this fiscal, with 70 for each cent of the surveyed companies anticipating a degrowth

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