Small businesses see impacts of unemployment in the local economy

Small businesses see impacts of unemployment in the local economy

“Every time you see a small business that may be open remember just because they are open does not mean they are not still struggling,” Frank Knapp, President and CEO of the South Carolina Small Business Chamber of Commerce

WSPA-TV
September 25, 2020

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by: Ayla Ferrone

GREENVILLE, S.C. (WSPA)–Small businesses continue to be hit hard by issues resulting from the pandemic. Even unemployment numbers can be a factor to how much is being spent at these shops.

Grabbing a morning coffee and pastry from your favorite cafe can be routine, but with unemployment levels brought on by the pandemic it’s a different story.

“Folks are really trying to figure out do I want a latte or do I want to pay my rent. That’s an easy decision for most people,” Bobby Daugherty, owner of Old Europe, said.

He’s seen it first-hand.

“We continue to bear the brunt of a lot of costs that we didn’t have prior to the coronavirus hitting,” Daugherty said.

It’s something small businesses all across the state are dealing with. Frank Knapp is the CEO and President of the South Carolina Small Business Chamber of Commerce.

“Every time you see a small business that may be open remember just because they are open does not mean they are not still struggling,” Knapp said.

He said without a steady paycheck, the economy suffers, and small businesses are the first casualties.

“We are restricting consumer demand for goods and services and that’s what makes a small business successful,” Knapp said.

With shops closing up not far from Old Europe, Daughetry said it is concerning.

“It’s nerve racking at best. I just try to stay focused on what I do best and deliver to our customers in the best way possible and hope things work out,” he said.

Daugherty tries to stay positive but hopes help is on the way.

“I think we just have got to have some solutions really, really soon or it’s going to go from bad to worse,” Daugherty said.

Knapp said the best way you can support small businesses is to spend you money there so it stays in the community. He estimates anywhere from 100,000 to 400,000 small businesses have closed permanently nationwide since the beginning of the pandemic.

https://www.wspa.com/news/small-businesses-see-impacts-of-unemployment-in-the-local-economy/