Small businesses struggle to find cash reserves

Sep 08, 2021
263 views
0 comments
Share
Employee Conduct

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

263 views
0 comments

Tags In

Talent Migrant Workers

Previous days news

Sep 7 Sep 6 Sep 3 Sep 2 Sep 1

Best tech jobs in the United States : BLS data

Sep 06, 2022
574 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
516 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
609 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
492 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
618 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Small businesses struggle to find cash reserves

Small businesses struggle to find cash reserves

Tags In

Others news

Category

Tags

Articles