Disruptive changes in technology, competition, trade and legislation continue to threaten the average American’s ability to start and sustain a main street business. 

 

Before the COVID19 Pandemic small businesses were creating 65 percent of the net new jobs in this country; yet, they experienced only 43.5 percent of US gross domestic product.

 

This disturbing gap between number of jobs and revenue share has been growing since late 90’s when small business enjoyed over 50 percent of our country’s gross domestic product.  I am of the belief this is one of the major contributors to the decline in the middle class that we are now experiencing.

 

Post pandemic conditions remain highly uncertain; though it is very likely thousands of small businesses will struggle to survive.  Many won’t and that is simply unacceptable.