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It goes without saying that the past few years have been extremely difficult for any number of industries. But the COVID-19 pandemic has truly affected the small to midsized businesses (SMBs) that keep the American economy running. While the country seems to be returning to some sense of normalcy, and a promising number of SMBs across the U.S. have weathered constant lockdowns, there seems to be more hardship on the horizon.
Rising inflation, persistent supply chain issues, recession fears, and continued labor costs have all become key factors in SMBs keeping their doors open. But the businesses needing economic help are missing out on a critical lifeline: unreported government funds.
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