This Business News Story Was Uncovered By Us From: https://www.youngupstarts.com/2021/01/07/why-a-vaccine-for-covid-19-wont-restore-small-businesses-overnight/
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by Terry Monroe, founder and president of American Business Brokers & Advisors (ABBA) and author of “Hidden Wealth: The Secret To Getting Top Dollar For Your Business“
The vaccine for the COVID-19 virus recently began shipment. The Wall Street Journal states it will take until sometime in March of 2021 to vaccinate the first 100 million individuals with the highest priority of getting the vaccine. That would leave well over 200 million Americans still in need of the vaccine as we head into spring.
The stock market is doing very well as it hovers around 30,000 – an unbelievable achievement never seen before, even though millions of people have lost their jobs and people continue to lose their jobs on a daily basis. The stock market is based on the theory of expectation, and what it is telling us is that with a vaccine, the economy will begin to turn around and will be much better going forward.
But let’s look at this through the eyes of small businesses.
Outside of government, companies with less than $7 million in sales and fewer than 500 employees are widely considered small businesses by the U.S. Small Business Administration. And the expectation for small businesses to return to what we considered normal pre-pandemic is not going happen anytime soon.
Here’s why. Multiple states have banned indoor dining at what remaining restaurants are still open. As of Dec. 1, nearly 17% of U.S. restaurants were “closed permanently or long-term,” according to a study by the National Restaurant Association. That percentage amounts to over 110,000 service-industry businesses across the country.
The last known numbers reported at the end of September for businesses in total that had closed were approximately 170,000…. Read More
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