IHL presented a webinar on the impact of COVID-19 on the overall economy and segments the hardest hit. It is recommended. One of the takeaways for us is the large opportunity for automation, HMI and kiosks in the future.
How do the US C.A.R.E.S Act stimulus programs affect retail? The answer might surprise you. Get an update on retail/hospitality and how the stimulus plans, with delays and competing priorities, will, unfortunately, hasten the demise of many retailers. Click the photo below to launch the webinar replay.
In the short term, it is going to be tough for small businesses which are basically owner-operated and under 50 million in revenue. The confluence of the minimum wage, unemployment benefits, questionable at best awards of first-round SBA loans along with a diluted environment for selling due to social distancing, once again has Small Business having to look out for itself.
Editors Note: We applaud companies such as Shack Shack which having received CARES money decided it was better utilized by struggling small businesses. We cannot say the same for companies and institutions like Ruth Chris and Harvard. We recommend resources such as the CRFB and their ongoing analysis of monies and recipients (much like 2009 stimulus).