Calling for a Consumer Revolution
Calling for a Consumer Revolution According to the U.S. Government Small Business Administration (SBA) small businesses are the lifeblood of the US economy as they generate two thirds of new jobs and drive US innovation and competitiveness. They contribute to 44 percent of the US economy which is down from 48% back in 1998. There are over 31 million small businesses in the US. In 2020 alone 9.4 million of these businesses closed, some temporarily and some permanently due to the pandemic despite taxpayer support in grants and loans. It was expected for many of these small businesses to close down their physical presence due to various local lockdowns and restrictions. However, consumer behavior is also partly to blame for this as we have moved increasingly away to shop elsewhere. We as a nation have increasingly changed our buying behavior over the years by shopping at big box stores and their online equivalent. There is a tremendous hidden cost to th...