Small Businesses have been affected badly by the impact of COIVD19 pandemic on the world. With the increase, in the number of positive cases, the business has already started to feel the financial crunch. Many of them are failing to pay their rent, employee salary, and other debt bills. Like on March 18, President Trump stated that the restaurant industry will lose more than $225 billion if the pandemic lasts more than 3 months. There are other industries affected too.
But to cover those losses world leaders & philanthropists like Gates Foundation are joining hands to help the small and medium-sized enterprises to fight against the crisis caused by COVID19 pandemic. Many states in the US have already started assisting small businesses by providing aid like funds & low-interest loans to back them during the crisis.
The above stats show what business owners think about the impact of COVID19 on their business. Every country is taking all the necessary steps to fight COVID19 impact on our global economy. The federal government has already started to offer various emergency relief programs, grants, emergency funding and more to help small businesses in paying their basic bills.
In the recent G20 summit, leaders of G-20 decided to inject $5 trillion into the global economy to fight the COVID19 pandemic. All the countries of the G-20 agreed to fight the coronavirus by sharing potential health data addressing potential trade disruption. At a press conference, Donald Trump stated that they will share all the potential information and data with G-20 leaders to fight coronavirus pandemic.
So in this article, we will be giving you all the details related to loans, emergency reliefs, grants and funds offered by different cities in the US to help small businesses in paying their basic and dept bills.
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