How can small businesses survive the COVID-19 outbreak?

The situation is grim and traumatic for small businesses. NSBA reported that about half of the business owners are worried about the expected economic downturn and impact on business financial stability. “There is a great deal of confusion among small business owners about what we can and should be doing as employers”, says Marc Amato, NSBA 2020 Board Chair.

The Potential Impact Of COVID-19 On Small Businesses

As a consequence, businesses around the world are being adversely affected. This has considerably raised the stress of the business owners, especially small and medium-sized enterprises. They’re uncertain about their future. “COVID-19 outbreak is likely to put most small businesses on life support systems”, says Karen G. Mills, a senior fellow at Harvard Business School.

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