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The Fall and Rise of Small Businesses "Race, Government Aid, and Growth After the Pandemic"

The Fall and Rise of Small Businesses "Race, Government Aid, and Growth After the Pandemic"

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  • ISBN:9780262054751
  • Editorial: Mit Press
  • Fecha de la edición:
  • Encuadernación:
  • Nº Pág.:290
  • Idiomas:Inglés

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What happened to small businesses, government aid, and racial inequality during the pandemic and subsequent economic recovery.

The Fall and Rise of Small Businesses provides the ?rst comprehensive analysis of the economic recovery of small businesses from the COVID-19 pandemic. Using evidence from the most up-to-date data on business activity and novel data on PPP receipt and business outcomes recently released by the U.S. Census Bureau, Robert Fairlie weaves a compelling story of what happened over one of the most important and disruptive periods in economic history'from the ?rst cases of COVID-19 in the United States to ?ve years later in the recovery.

The story is one of growth and regeneration: although small businesses were severely affected by mandated social distancing restrictions to slow the spread of COVID-19, business activity has more than recovered five years later. The economic recovery has been strong, especially for Black, Latinx, and Asian business activity. But retail trade and restaurants have not fully recovered, leading to a visible struggle in many shopping districts and downtown areas. Though the federal government pumped roughly a trillion dollars into aid for small businesses, we have yet to see a complete picture of the costs and benefits of these expenditures. AI and consumer trends make predictions even more challenging. Fairlies findings will be key in helping policymakers, business leaders, and small business owners move forward.

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