COVID-19, otherwise known as coronavirus, has affected the lives of every person not only in a certain place but everyone in the world. To be specific it has affected the small business owners around the world and how has it affected them specifically? Many small businesses have been asked to be shut down for the foreseeable future due to COVID-19 which is affecting not only the owners but how is the government helping these small businesses? These owners are getting most of their help from the bank and the guidance from the government on how they should be able to stay on top while not running. My mom actually runs a small business which is a school and she has been forced to shut down which is costing us thousands in cash. She is able to keep some revenue coming in because some kids stay enrolled through online classes. She has gotten help from the bank by getting a loan to pay the teachers and other employees during this time and if the bank decided she deserves it she will not have to pay back the loan the bank gave which the government has been stepping in to help with these payments. But how do small businesses who can’t rely on payments such as online classes as another option how has the government helped them in this time of need? Trump has brought to light they will help through “disaster loans” which are loans which I previously stated are loans you can get from the bank to help with payroll and other necessities. But sadly, we will also have to face the fact that there will be some small businesses who cannot thrive and survive in these hard times and will end up having to shut down permanently. Now do I think personally that the government could do anything else to help these small businesses and I would have to say yes and no. That’s because, yes they are doing a pretty good job helping these small business owners with the loans but also no because I feel like a lot of these small businesses can only last so long on a loan plus if they have to pay it back they will suffer more debt than they were already in which will bring them to forcefully shut down due to being able to get out of debt if put in it. Overall, I feel that yes, the government has helped out small businesses when they need it the most now but I still have a weird feeling that they could be doing more to help them stay afloat and make sure they don’t go under when all of this is over.
https://drive.google.com/drive/u/0/folders/1M9QvU_iCgmtlviCRG_o8cILwwyaVzari?ths=true
This is my link to my video
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