Small Businesses Need Big Help

A waiter looks out of a doorway of a restaurant, New York City, November 13, 2020. (Andrew Kelly/Reuters)

Entrepreneurs don’t want to be lectured by McKinsey consultants about why AI can help their cupcake company.

Nearly every business suffered during the pandemic. Major retailers including J.C. Penny went bankrupt, and nationwide chains such as AMC Theaters may never fully return. However, perhaps no sector was hurt more than small businesses, which struggled to retain customers and keep costs low during the pandemic. Fortunately, we are seeing that small businesses are better positioned to rebound from the recent crisis than J.C. Penny or AMC. But they can do even better if politicians enact sensible policies that facilitate a strong economy.

The pandemic was a boon for some major corporations, especially tech companies, which could capitalize on e-commerce and Internet ad revenue. Economic…

Read more…