SOLUTIONS FOR SMALL BUSINESS

How has the pandemic affected small business finance? What’s out there for small business as we all battle the impact of COVID-19. Main Street is one of the hardest areas of the economy and the struggle drags on with little sign of an end to the pandemic in sight. It’s a pretty gloomy time to be in business, but there is hope and there are ways to get through this.

Most Main Street businesses enjoyed a banner year in 2019. 2020 dawned with even more excitement. The vast majority of Main Street businesses (66%) expected to see continued business and revenue growth. Early economic returns bore this out.

Then COVID-19 happened.

According to a major payroll company in the US, 5% of Main Street businesses closed their doors forever in the first three weeks of the pandemic. YELP, a market leading business review site, reported in late July that 55% of the businesses who had closed their doors due to the pandemic were closed forever. Horrifying stuff for sure.

These small businesses contributed to the diversity, vibrancy and economic viability of our cities and towns. Many have served our communities for decades and employed local people whose income supported our local economies. Restaurants have been hardest hit of all, but there isn’t any sector that isn’t hurting right now. From the smallest to the largest retailers are closing their doors for good. It’s not surprising many business owners are panicking.

It’s no good hiding from the obvious, it’s time to take a hard look at your business and evolve. Survival depends on it. The time to innovate is RIGHT NOW. Great, but how can a small business owner find affordable small business finance when institutions are slamming the door in their face?

Don’t be blinded by Big Bank activity. Just as they did in 2008 the big banks are retreating to the comforting arms of big business. BUT there are many companies offering excellent small business finance solutions for businesses who might assume they were out of options.

There will be a lot of casualties, that’s unavoidable now, but for those who remain the message is very clear from all around the world; there is a lot less competition when this is all over. Make sure you are still standing when the battle is over. There are plenty of small business finance solutions available right now to help you evolve and emerge stronger than ever.

We’re here to help you. Don’t give up before you talk to us, because …

WHEN THE BIG BANKS SAY NO, FITUFINANCE CAN HELP YOU.

We’re here for you.