In spite of the fact that New York had the highest COVID-19 death in the United States, it still did not spare commercial activities in the city. One could even term the moment an era of work-from-home, which of course was out of the question for small-scale businessmen and women.
As if that was not enough, small businesses were dealt a fatal blow that they’re yet to recover from owing to the business restrictions placed by the US government. And, who knows? It may take a couple of years before everything starts to normalize.
But the silver lining is this. Entrepreneurs are beginning to smile and adapt to the new business world the COVID-19 pandemic brought about.
So what is it all mean? Prior to the outbreak of the COVID-19 pandemic that brought about lockdown of businesses, a $669 billion relief program by the US government brought back much business in the States back to life.
Obviously, the most vulnerable businesses were behind the curve until recently when a new initiative, especially for small businesses in New York, was launched.
This initiative targets about 230,000 small-scale businesses in New York and proposes to help these businesses bounce back on their feet.
Because small businesses are the commercial heart-and-soul of the New York economy, and it’s an indisputable fact, these small businesses in the city give roughly 1.3 million people a job.
What could be more important than fueling the powerhouse of the city’s economy, also thanks to these small businesses that have held their own during the crisis?
What’s the good news? Legal services, loans, accounting services, advice grants, and many more have been made available to small business owners via this initiative.
Needless to say, the NYC Small Business Resource Network is a private-public initiative having about a $2.8 million grant for small businesses.
With this measure put in place for small businesses in New York, there are chances that small business owners in the city would smile again and get their own fair share of settlement against the COVID-19 crisis.