If Small Business Is 'Too Big To Fail'...Then What Now?
May recall a few years ago when we had a major financial crisis around the world a number of countries stepped in to save the banks and institutions. I doing that these institutions. Were quite simply too big to fail. If these companies failed then the entire economy of their country would implode but the other thing to think about is that in many of these countries small businesses. Sme's small and medium enterprises mom-and-pop shops essentially to a large degree represent up to thirty forty fifty percent plus of the gdp of these economies and in many cases much more in terms of the percentage of the workforce. So the reality is that it's small business that is actually to defile. And i just think it's worth thinking about the implications of that because there's a number of countries right now around the world where many many small businesses of course are closing down the just going out of business as a result of the various conditions and lockdowns in posed by the covid nineteen pandemic that. We're all going through. And so whilst the number of countries are doing what they can to keep a lot of these industries alive. The comes a limit at some point. It goes away. And i think for many countries in many areas. We're reaching that limiting many as well. So i think it's just worth thinking about if these small businesses file just like when the big banks we're gonna fail then we have potentially going to have our entire economies employed so what you can to support your local businesses and whenever the governments are trying to throw money at supporting local businesses and keeping these industries alive. Just remember that collectively they can sometimes represent fifty percent of gdp and sixty percent. Plus of the overall workforce so small businesses are simply to be defile. What do you