Small Businesses Make Big Differences

Small businesses have been affected all around the world from the pandemic and have had many ups and downs; losses and successes. When the pandemic hit many people lost their jobs because small businesses employ many Americans. It’s important to recognize the importance they have and what we can do to help.

According to Alexander W.Bartik and Marianne Bertrand from PNAS, when covid hit back in January 2020 almost 43% of businesses temporarily closed and most were small businesses. The reduction of demand and the health concerns that came with coming to work were the primary cause for these closings causing a supply crash. The two authors also stated that during the pandemic, small business owners also struggled with mental health issues while trying to maintain their business. In fact, 62% of the owners said that they had experienced a “burnout”, meaning they were overworked and felt overwhelmed by the idea of keeping their business afloat. Many started to see their dreams of owning a business fall apart. While trying to maintain their business was hard, it was even worse that almost 45% of them said that the extensive stress affected their sleep, making them extremely tired.

Now that the pandemic has slowed down, small businesses still play an important role in the US. We still depend on small businesses to function despite the impact the pandemic had on the owner’s mental health. Owning a small business can be tough, but when you have a passion for something, it’s hard to stop yourself from overworking. According to Mckinsey Global Institute, after the pandemic many businesses are still recovering and have to face challenges of protecting the health and safety of employees and customers, adapting business models and adjusting staffing to meet demand. Many small businesses focus on customers more than making profits, making them have a low financial resistance thus, making it harder to recover.

According to the US Chamber, “For some businesses the pandemic was an opportunity for success. Last year, 4.3 million new businesses started all across the United States,” said Bradley. In 2020, only about 30% of entrepreneurs were unemployed. This inspired them to start their own business. The US Chamber also states, “You still have people who are entrepreneurs by choice who actually saw opportunity in the pandemic and seized it”. Many entrepreneurs fulfilled their goals of starting their own business from a young age.

We can help in many different ways. For example, volunteering to give small businesses an extra set of hands. Offering unpaid hours could make a huge difference for somebody struggling to find employees or a business low on money. Furthermore, we can help by spreading awareness on social media on how the pandemic affected small businesses and still does today. Search Engine Journal states some ways to help small businesses include ordering take out food, rather than making a home cooked meal helps restaurants gain profits back. Advertising for businesses you have been going to for a while or businesses you love would give them a boost. Having a connection with a small business and leaving good reviews can help immensely. Most of all, encouraging friends and family to order from small businesses. They are known to care more for their customers than most big businesses do and they overall have great service.

According to PNAS, small businesses make up more than 90% of business around the world and employ almost 50% of American workers. Making it important to recognize how much of an impact the pandemic had on not just the business but the owners too. The pandemic did hit most of us hard, but it was also a time of opportunity for others. Many people created trends or new hobbies because of being trapped indoors. Encourage everybody to go out today and visit a local small business and be supportive whether it's buying something, giving them recognition on social media or just saying “hello!” Even something so small can still make a difference.