Surveillance Special: Saving America’s Growth Engine
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 26 December 2020
⏱️ 33 minutes
🧾️ Download transcript
Summary
Small businesses are credited with creating more than 60% of all U.S. jobs over the past decade. These companies came into the year with a head full of steam. Then came Covid-19, and the momentum just stopped.
Since the start of the pandemic, we spoke to more than a hundred small business owners across the country. This is their story.
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Transcript
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| 0:00.0 | With Bloomberg you get the story behind the story, the story behind the global birth rate, |
| 0:04.7 | behind your EV batteries environmental impact, behind sand. Yeah, sand, you get context. |
| 0:10.8 | And context changes everything. Go to Bloomberg.com to get context. |
| 0:15.0 | It's the American dream entrepreneurs across the country starting their own business. |
| 0:21.0 | It's the biggest job creation vehicle the nation has ever seen. |
| 0:25.0 | Small businesses are credited for two-thirds of all US jobs over the past decade. |
| 0:30.0 | These companies came into the year with a head full of steam, |
| 0:33.2 | then the coronavirus hit, and the momentum just stopped. |
| 0:37.4 | A full 40% of small businesses do not think they're going to survive. |
| 0:41.8 | They're just a lot of smaller businesses that will struggle to make it through this winter. |
| 0:45.4 | It's all local small businesses. |
| 0:47.0 | That's who is bearing the brunt of this. |
| 0:49.0 | We just don't know how long we might be able to stay afloat. |
| 0:52.2 | Everybody's going to be out of work and |
| 0:54.3 | I'm just going to be deeper in debt. It's been very very sad for our family, for |
| 0:59.0 | staff. You know the government programs were designed to bail out the big boys, but they left Main Street behind. |
| 1:05.0 | Since the start of the pandemic, we spoke to more than a hundred business owners across the country. |
| 1:11.0 | Many shut their doors, some survived, some adapted. |
| 1:15.0 | And some suffered personal tragedies while trying to keep their business afloat. |
| 1:19.0 | This is their story. |
| 1:23.6 | Thanks for joining us on this Bloomberg Radio special report, |
| 1:26.7 | examining the pandemic's outsized impact on small business. |
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