Economics
Eight Weeks of Relief Is Not Enough for Small Firms Facing Failure
- U.S. program was designed as a short-term bridge to normalcy
- Advocates call for funding not tied to a tight deadline
This article is for subscribers only.
For many U.S. small business owners, eight weeks of federal coronavirus relief won’t be enough to survive the pandemic’s economic damage, spurring calls from mom-and pop firms to extend the time frame.
The rescue plan for small companies, designed as a stopgap until life returns to normal, falls short for restaurants, hair salons and other small companies that are bracing for months of poor business. Long after the lockdowns are lifted, customers will face economic hardship and be wary of crowded spaces, say advocates who are calling for funding that’s not tied to a tight timeline.