Good morning. Welcome to Axios today and we've made it to Friday. I'm Niala Boodoo. Here's how we're making you smarter today.

Adjust your expectations around this presidential election because

it's not going to look like anything we've ever seen. Plus the more we learn

about kids in the coronavirus, the riskier schools reopening seems. First though, the next wave of

city businesses is today's one big thing. There's a lot we don't know about

what a post-Covid city will look like.

For one, a lot of the stores were familiar with might be gone.

So what is the next wave of business post-pandemic going to look like?

Market Senator Dionne Rabouin has been researching this all week.

This story breaks down into a couple of sections.

The first part is that small businesses are going to be hit the hardest.

As the pandemic hit, they were losing a ton of revenue, really all of their revenue for most stores,

and even as we've opened up economies around the country, a lot of that business hasn't come back.

Yes, many small businesses will go under, but they won't be the only ones.

A lot of the folks I talk to who are experts in this area expect that you're not just going to see the big national chains move in and kind of take all that space over because they're struggling as well.

This means landlords of those retail spaces won't have a lot of

options when trying to fill these vacancies. In fact, we may see some small

businesses come back. Landlords are going to be inclined and really positioned to try to work with some of these small businesses

and the ones that do stay in business will have some options and new small businesses will probably

come in and take their places.

The second part of the story is that there's a lot of other ideas around what could replace

these vacancies, but for the most part no one really knows yet.

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