Coronavirus and small businesses

Two weeks ago I was joking with friends about doing elbow bumps. That now seems like a different world. Now we are in lockdown for who knows how long. Søren Kierkegaard said, “Life can only be understood backwards; but it must be lived forwards”. That’s well worth remembering before we rush to judgement on how the crisis is being handled. Everyone is trying their best with imperfect information.

Economically this is going to be painful, with a very sharp recession in the next 2-3 quarters. However, if productive capacity is protected, the likelihood is that the recovery will be strong, as productive capacity will not have been destroyed.

Small businesses, particularly one man bands, are the most vulnerable as generally they have less financial cushion to survive. If you know someone who is self employed and you can use their service or buy their product, if you are able, now would be a good time to give them some business. We are all in this together.

2 thoughts on “Coronavirus and small businesses”

  1. Hi Robin, followed the link from trek lite and saw this post.
    Reminded me of something Sam Harris said on one of his podcasts. Only applies to the comfortable of course, but he thought about his monthly expenses, his hair dresser for example and thought this is an outgoing I have accounted for already. So he pays for his hair cuts or whatever and doesn’t notice the money even though he’s not getting the cut. Use it or lose it.

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