In the 1980s and 1990s, small businesses employed over half of American workers, but that dynamic has shifted over time. By 2017, only 47 percent of private-sector employees were at small businesses, and the pandemic appears to be reducing that again. These business owners often depend on each other, meaning as some shutter forever, it can trigger more to follow. Congress approved more than $700 billion in relief for small businesses, mostly in the form of Paycheck Protection Program loans and grants. The money comes from the Small Business Administration, although business owners apply for it through their local bank.

Source: Washington Post May 12, 2020 21:02 UTC