THE BOTTOM LINE:
Hanging on seems to be the catch phrase around town during a time when analysts say it’s only the beginning of the worst wave of small-business bankruptcies and closures since the Great Depression.~~~
8/22/20 | Kittitas County | Daily Record ~
Maybe Better Life Natural Foods owner Delana Carr said it best, “We’re just hanging on and waiting for a better day.”
Commerce in America used to be defined by brick and mortar small business, but the pandemic is changing all of that. The White House and Congress made saving small businesses a defining moment, passing a second stimulus late last month.
But economists project that more than 100,000 small businesses have shut permanently since the pandemic escalated in March, according to a study by researchers at the University of Illinois, Harvard Business School, Harvard University and the University of Chicago.
The latest data suggests at least 2 percent of small businesses are gone, according to a survey conducted May 9 to 11. But here in Ellensburg, small business owners are hanging on.
They have moved into the third quarter without Jazz in the Valley income or various summertime activities. The real test will be business without the money generated by the 97th Ellensburg Rodeo or back-to-school. READ FULL ARTICLE