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We need a Main Street bailout plan

Social distancing is devastating local small businesses. Here's how to save them before it's too late

Jon Shell is managing director and partner at Social Capital Partners.

This is an article written in desperation. A last-ditch effort to make clear to our governments something that obviously is not yet clear to them: most local businesses will simply not survive social distancing. This week’s Economic Response Plan by the federal government, while addressing some important issues, offered only deferred taxes and a 10% wage subsidy to small and medium-sized businesses. For local businesses, suffering from sudden declines in revenue often in excess of 80%, operating on skeleton staffing, you can imagine how well this was received.

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