The New Builders. Seth Levine

The New Builders - Seth Levine


Скачать книгу
the time the legislation was passed, many undercapitalized restaurants had already laid off employees. There was no sense in taking out a no‐interest loan – remember, those loans needed to be repaid – if there was little likelihood of reopening at all. The question of rent, the single biggest fixed cost for many entrepreneurs, wasn't addressed. The legislation also favored companies that had existing relationships with banks or who were sophisticated enough to access other forms of capital. Is it any wonder that, while it provided a short‐term benefit to some, the $3.5 trillion CARES Act did too little to help small businesses in the long term? Many didn't survive.

      As winter of 2020 loomed, the community of Akron, Ohio, tried to take matters into its own hands. It had given out more than $5 million in direct grants through the CARES Act. But the challenges of small businesses accessing relief under the aid packages loomed large for the region. More than 90 percent of the 13,262 employers in Akron in 2018 had fewer than 50 employees. But together they employed as many as 160,000 people.

      So was he.

      No. And most people don't want to walk down Main Street where every shop is a chain, either. As the pandemic rolled on, Milton Friedman's singular focus on profits and growth to the exclusion of other values seemed to have reached its natural conclusion: Free to Choose doesn't look so appealing if every choice is the same.

      Luckily, while the United States is remembering the value of small business, the entrepreneurs of America are continuing to be what they always have been: the most determined group of people you could ever hope to meet.

      1 i Akron is the rubber capital of the world and the home of Goodyear, the maker of the Goodyear blimp.

      1 1. Quotes from interviews with Isaac Collins, July 2020 and October 2020.

      2 2. Tommy Felts, “I'm Black and a Plaza Business Owner in That Order; Why a Main Street Entrepreneur Joined KC's Protests,” Startland News, June 2, 2020, www.startlandnews.com/2020/06/isaac‐collins‐kansas‐city‐protests/

      3 3. Alex Flippin, “Who Is Steven Craig?” News Press, July 14, 2016, www.newspressnow.com/news/local_news/who-is-steven-craig/article_472e12e4-4a07-11e6-9370-5f0bc1379fa4.html

      4 4. Small Business and Entrepreneurial Council, “Facts and Data on Small Business and Entrepreneurship,” https://sbecouncil.org/about-us/facts-and-data/

      5 5. Isabel V. Sawhill and Christopher Pulliam, “Six Facts about Wealth in the United States,” Brookings, June 25, 2019, www.brookings.edu/blog/up-front/2019/06/25/six-facts-about-wealth-in-the-united-states/

      6 6. Dion Rabouin, “10 Myths about the Racial Wealth Gap,” Axios, July 23, 2020, www.axios.com/racial-wealth-gap-ten-myths-d14fe524-fec6-41fc-9976-0be71bc23aec.html

      7 7. Ibid

      8 8. Ewing Marion Kauffman Foundation, Access to Capital for Entrepreneurs: Removing Barriers, 2019, www.kauffman.org/wp-content/uploads/2019/12/CapitalReport_042519.pdf

      9 9. Interview with Chris Cain, Summer 2020.

      10 10. JPMorgan Chase & Co. Institute, Place Matters, Small Business Financial Health In Urban Communities, 2019, institute.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/institute/pdf/institute-place-matters.pdf

      11 11. Series of email interviews with James Hardy, Fall 2020.

      12 12. “ALICE in Adams County,” United Way ALICE Report – Ohio, 2016, http://ouw.org/wp-content/uploads/2018/11/18UW_ALICE_Report_COUNTY_OH_8.29.18.pdf

      13 Скачать книгу