Small businesses struggle to find cash reserves
44% percent of small businesses in the US now face a shortage of cash reserves as many have less than three months of cash. This leaves them in a vulnerable state of another shutdown due to financial emergencies and the pandemic. The survey conducted by Goldman Sachs shows that an even greater 51% of Black-owned businesses face a shortage of cash reserves with less than three months' worth.
These numbers present the ongoing pressure and struggle of small businesses to continue operations amidst the pandemic. As more customers got vaccinated, there was a rebound in sales but conditions have worsened for small businesses yet again. The survey also highlights the rocky recovery for many Americans and the challenges faced by minority-owned businesses during the pandemic. National Director of Goldman Sachs Joe Wall said that it has been an uneven recovery for Black business owners and that they have consistently lagged over the last 16-17 months.
Source: CBS News
Category
Eligibility Verification (I-9)
Labor Relations
Change Management
Substance Abuse
Bonuses & Incentives
Gender Identity
Electronic Records Management
Ethical Practice
Social Media
Parental Leave
Campus Placement
Contemporary Issues
Risk Management
Vendors & Software
Workplace Security
Cybersecurity
Career Development
Leadership &
Health Care Benefits
Background Checks
Remote & Hybrid Work
Family & Medical Leave
Opening & Closing
Disability Accomodations
Environmental Health Hazards
Employment Branding
Inclusion, Equity & Diversity
Compensation & Benefits
Closing
Data Security
Wellness Benefits
Records & Reports
Firing
Investigations
Age
Religion & Spirituality
Opening
Dependent Benefits
Disaster Preparation & Response
Open Enrollment
Employment Law & Compliance
Employment Offers
Religious Accomodations
Whistleblowing
Mentoring & Coaching
Workforce Planning
Inclusion, Equity &
Time Worked
Networking
Fiduciary Duty
Tags
Article
How to Cope with America’s Return-To-Office Plans
If you’re looking forward to shifting from remote to in-office work, here are a few ways to cope wi ...
Are 4 day work weeks the future?
Robert Owen, a Welsh textile mill owner, social reformer, and labor activist came up with a slogan ...
Nursing Job Openings
It’s no secret that the healthcare sector has been reigning in all its powers over the years, parti ...
Hiring Secrets of The Most Successful Companies
A successful company not only has growing revenues, but it also boasts of a brilliant workforce. Ma ...
Comments