New Jersey Businesses Failing At Shocking Rate | Aaron Neuman

Small businesses in the Garden State are going belly-up at a rapid clip due to coronavirus closures. 

According to a Harvard study, 31% of New Jersey businesses shut down as of November 9th, higher than the national average. The New Jersey Business & Industry Association showed similar figures, reporting that 28% of businesses in the state had shut by October.

“It’s really bad,” said New Jersey state director of the National Federation of Independent Business Eileen Kean. “And without federal dollars coming into New Jersey, the Main Street stores are not going to make it through the winter.”

But getting more federal help appears to be a long-shot at the moment. Talks in Congress over another stimulus package have completely stalled, and no deal is expected to be reached between House Democrats and Senate Republicans before at least 2021.

And with coronavirus vaccines not expected to be available to broad swaths of the public until spring, small businesses’ bottom lines are likely to continue suffering, pushing many over the brink and forcing their closures.

To keep local small businesses alive, and to ensure that their owners can continue feeding their families, follow a simple rule: shop local. If you can, spend a few more dollars at a local mom and pop shop in your neighborhood rather than lining the billionaire majority shareholders of big box stores.

If we are going to get through this, let’s get through it together, looking out for those whose livelihoods have been wrecked by this awful pandemic.

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