CHARLOTTE, N.C. (WBTV) - Through these coronavirus impacts, as an employee, you might be wondering how much will be coming in on your next paycheck.
But small business owners are also wondering how they’ll continue to not only pay their employees but keep afloat.
Many small businesses in Charlotte have ramped up their delivery options but in a few weeks, many owners are wondering if that’s going to be enough. One business owner we spoke with lost three months of business in just a few days due to the most recent coronavirus restrictions.
Small businesses say a lot of them thrived on big events or “pop-ups” where they could showcase their products.
“Now all of those events have been canceled so we don’t have that form of continuing that customer base and getting new customers, says Carmen Larreynaga, store owner of Pet Wants in South End.
They too have ramped up their food delivery and pick up services to try and offset any lost business in the actual storefront. But questions during uncertain times remain.
“How can we get these products to our customers continuing to carry our business and pay and keep our employees,” says Larreynaga.
Those questions, so many other small business owners have asked themselves this week, too. Owners say they’re now having to come up with a new game plan for their business model.
Taking out loans is a real option right now many small businesses are turning to.
Already the Trump administration proposed a payroll tax holiday and a $50 billion increase in low-interest Small Business Administration loans to business owners caught in the coronavirus crossfire.