Small business in America is facing extinction. COVID19 has put them in peril. But it’s the predatory fallout that could wipe them out for good.
Here are three existential threats they face:
Here are three existential threats they face:
1. Loan sharks are crippling cash-strapped companies. Their poison pill loans come with exorbitant rates, draconian terms, and an automatic green light to collect whatever they can when a company falls short.
2. Powerful firms are using supply chain disruptions to cut off small companies that depend on them – a blow that many will not survive. cnbc.com/2020/03/18/ama…
3. Vulture investors, especially in private equity, are waiting in the wings to scoop up scores of struggling businesses on the cheap through "roll-up" deals. They can then extract cash by saddling companies with debt and kicking workers to the curb. prospect.org/coronavirus/un…
Small businesses shouldn't go extinct. We need to preserve them by throwing them a lifeline to stay afloat and by policing against shameless shakedowns during our national emergency. nytimes.com/2020/03/04/ups…
