Even if the restart is quick, it might be too late for some, said John Arensmeyer, CEO and founder of Small Business Majority.
Small Business News
Although the government will reopen for at least three weeks, the shutdown’s economic consequences for federal workers, government contractors and businesses have already been felt around the country.
Such reform is popular, the report claims. “A survey by Greenberg Quinlan Rosner Research on behalf of Small Business Majority found that seven in 10 small business owners feel their business is harmed when larger businesses avoid taxes.
“Nobody knows about them. The biggest thing is just talking about it and making sure people are aware,” said Mary Overbey, Missouri outreach manager for Small Business Majority. “It starts at $500 normally, and those a lot of the time are credit-building loans.”
"We feel a little bit like political pawns right now, because, yes, border security is important, but we don't have anything to do with the border security right now." Elizabeth Winn, co-owner of Del Sauce in Virginia, said.
John Arensmeyer, founder and CEO of the Small Business Majority, talked about the shutdown’s impact on small businesses. The national business advocacy group regularly engages with a network of 58,000 small business owners and works with more than 1,000 business groups.
A quarterly survey of CEOs finds that after soaring over the past two years, confidence in the economy has fallen back to pre-2016 election levels. Joe Galvin directs research at Vistage, an advisory firm for small and medium-sized businesses, “just 44% thought the economy had recently improved.
Among the most damaging effects of the shutdown for private business is the closure of the Small Business Administration, which is not processing small business loans at the moment, said Hunter Railey, Colorado outreach manager for the Small Business Majority.
Zachary Davis is one of thousands of small-business owners anxiously checking news about the shutdown. He lives in Santa Cruz, Calif., about 2,800 miles from Washington, D.C., but the partial government shutdown is about to derail his plans to expand his business.
While President Trump digs in as he seeks $5 billion to build a wall on the country’s southern border, I’m trying to dig out of a financial hole created by the partial shutdown of the federal government.