government activated the Economic Injury Disaster Loan Emergency Advance (EIDL), which provides forgivable relief of up to $10,000 to businesses currently experiencing temporary difficulties. Moreover, their weaker ability to endure losses and obtain loans, when compared to large enterprises, make small businesses particularly vulnerable, and place them in the front line of the crisis.įor these reasons, the U.S.

Considering that small businesses account for about half of the employment in the U.S.A's private sector, where they created nearly every 2 out of 3 new jobs between 2005 - 2019, it is necessary for the survival of the country to support this sector during such a difficult time. The declining need for commodities and manufactured products leads to a shrinking workforce and causes many jobs to be lost. Actions taken to contain the contagion and protect our health, unavoidably have economic implications.

While social distancing, self-isolation, and travel restrictions inevitably affect our daily life, the economic burden of the crisis is particularly critical. Many of us are already suffering through the severe impact of the COVID-19 pandemic.