The stimulus package for small businesses appropriated by the U.S. Congress has reportedly already run out of money, as small businesses around the country continue to struggle due to COVID-19 restrictions.
In the U.S., there are over 20 million businesses with less than 500 employees. The country has a total of 135 million employed in small businesses, contributing to a total annual sales number of nearly $9 trillion. With small businesses struggling to retain a fraction of their regular sales and employees amidst the COVID-19 pandemic, the hit to middle- and lower-class citizens could be greatly exacerbated if additional stimulus funds aren’t allocated by Congress.
