S2 E109: The Future Outlook for Small Businesses in the New Normal

The new normal, which is a result of the pandemic's effect on the market and economic instability, didn't come with an instruction manual. Expert analysts and economists have been hesitant to commit to providing any forecasting data.How do small businesses survive these challenges and remain in operation and profitable in the long run?In this episode of Wagner Live, we have Thomas Sullivan discuss the current state of affairs for small businesses throughout the U.S. and how they have been managing despite mandated lockdowns and restrictions. Thomas is the Vice President of Small Business Policy at the U.S. Chamber of Commerce.Listen in to learn how the pandemic exposed the financial inequity in America, preventing minority and black-owned small businesses from accessing banking.What You’ll Discover:[5:05] The challenges small minority businesses are facing during the pandemic, plus the need for a stimulus.[9:06] The economic and community development benefits of American small businesses.[15:38] The significant pivoting small businesses had to do to establish an online presence.[18:58] How to create disruption as an entrepreneur by listening to your customers and their wants.[23:28] How the pandemic exposed the financial inequity in America and how that’s affecting black-owned businesses.[26:14] How Thomas is working to help small businesses access funds and stay protected.[30:27] The streamlining of the various chapters of the bankruptcy code to make it more efficient.[31:55] The expected changes that are going to help stabilize small businesses.Find Free Resources: https://www.uschamber.com/co/Please support our podcasts: https://patreon.com/wgnrsoundsFollow Wagner Live here:Facebook: https://www.facebook.com/wagnerlivepodcastInstagram: https://www.instagram.com/wagnerlivepodcastTikTok: https://www.tiktok.com/@wagnerliveTwitch: https://www.twitch.tv/wagnerliveshowYouTube: https://www.youtube.com/@wagnerliveTwitter: https://twitter.com/wagnerlivepodLinkedIn: https://www.linkedin.com/company/wgnrsoundsWebsite: https://wagner.liveBecome a supporter of this podcast: https://www.spreaker.com/podcast/wagner-live--3076203/support.