Dear Supporters of Carolina Small Business,
As we all know, the coronavirus (COVID-19) is affecting the lives of many people around the world, as well as small businesses in our own community. Our thoughts are with those individuals who are struggling during this crisis and time of uncertainty. At a time where much feels out of control, there's a lot we can do to help small businesses survive this.
While we may not be able to give them our patronage in person right now, there is much we can do to show small businesses our support. Please consider making a one-time donation or joining our dream catcher’s circle, which supports our operations as a community loan fund for small businesses and entrepreneurs in North Carolina.
It is also crucial that we support our local small businesses. Data from past pandemics like the 2003 SARS outbreak show about 80% of the negative economic impact was from aversion behavior (For example, fear that may prevent someone from shopping or dining out). Countries with SARS outbreaks saw a 1% to 5% decline in economic growth when individuals did not engage in their normal social and work activities. It goes without saying that such effects have a disproportionately large influence on small businesses, including Main Street service-related sectors like restaurants and retail stores.
Other ways to support small businesses include: buying gift cards to support small retail businesses, ordering-takeout from restaurants, and stocking up from farmers' markets and small grocers who still have their doors open. Whether you are a community member or small business owner, we want to assure you that we will continue to be on the front lines as an ally and trusted resource for small business owners during this crisis – for months and years to come.
While many of our staff are participating in social distancing in the next couple of weeks, we are all committed to continuing to serve our clients virtually through online training and technical assistance over the phone. More than ever before, our bold vision for a vibrant and robust small business ecosystem throughout North Carolina needs supporters like you.