What small businesses need to survive

1 big thing

Axios

News

4.0 • 2K Ratings

🗓️ 9 December 2020

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Congress is getting closer to passing a stimulus bill. The focus now is on an over $900 billion plan that will include more unemployment benefits, money for schools and aid for small businesses. Both Republicans and Democrats seem ready to compromise - but for many small businesses, it might be too little too late. Plus, American hospitals are in a covid crisis. And, the pandemic has expedited the streaming revolution. Guests: Axios' Dion Rabouin, Sam Baker and Sara Fischer. Credits: "Axios Today" is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Carol Wu, Cara Shillenn, Nuria Marquez Martinez, Dan Bobkoff, Sara Kehaulani Goo, Alex Sugiura and Naomi Shavin. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. Go deeper: Why Congress is doubling down on the Paycheck Protection Program Coronavirus hospitalizations top 100,000 for the first time Hollywood engulfed by streaming drama Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Good morning. Welcome to Axios today. We've made it to Wednesday. It's December 9th. I'm
0:07.4	Nailaboodoo. Here's how we're making you smarter today. American hospitals are in
0:11.8	a COVID crisis.
0:13.0	Plus, how the pandemic has expedited the streaming revolution.
0:17.0	First, though, today's one big thing.
0:20.0	What small businesses need to survive.
0:29.1	Congress is getting closer to passing another stimulus bill.
0:35.0	The focus is now on a 900 plus billion dollar plan which would include more unemployment benefits money for schools and aid for small businesses. Then aid will come in
0:39.9	the form of the Paycheck Protection Program. But consider this.
0:43.4	The Wall Street Journal recently reported
0:45.4	300 of the companies that received help
0:47.7	during the earlier rounds of stimulus
0:49.9	have since filed for bankruptcy.
0:52.2	And yet, supplying that same type of aid
0:54.7	to small businesses is the one thing both sides
0:57.1	in Congress agree on.
0:58.8	So would things change this time around?
1:00.9	Axios' markets editor Dionne Rabboin has been reporting on this.
1:04.0	Dion, how are small businesses doing right now?
1:07.2	Ooh, God, really, quite badly. So small businesses devoted to e-commerce and online selling that don't have any kind of actual
1:17.0	brick and mortar presence are actually doing pretty well.
1:20.7	Small businesses that don't that rely on foot traffic, they are doing really, really, really poorly.
	...

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