Shutdown will punish small business
In all the chatter about the looming government shutdown, no one has mentioned one of the most frightening outcomes: its effect on small business.
Sure, most big business can weather a slowdown for a time, but should consumer confidence tank and the last (and most important) quarter of the year be blighted, many small businesses might not survive.
For those of us in retail, the fourth quarter, which leads into and includes the holiday season, is exactly the time that determines profitability for the entire year and lays the groundwork for the year ahead.
Cash flow is a reality of any business and access to capital is essential particularly during that final quarter because drying up our sources of capital by drying up SBA and other funding dries up our ability to acquire inventory to sell during the holidays.
Should that access be denied, the results could be disastrous. Crashing consumer confidence would, of course, be even more catastrophic.
The negative effects of a government shutdown on small business at this time would almost inevitably damage and destroy many small businesses across our country.
The consequences for us and for our economy, on both a local and national level, are unthinkable.
Salt Lake City
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