Re:Effect of economic crisis on America’s small businesses [...
by sjg007 on Saturday March 21, 2020 @07:35AM
(#22645857)
You could buy gift cards for future service at these bars and restaurants. The business gets cash now and you get a discount.
Re:Effect of economic crisis on America’s small businesses [...
by sokoloff on Saturday March 21, 2020 @07:43AM
(#22645882)
If they remain open. That might be about a coin-flip on average at this point.
As a moral issue, we are choosing to continue to pay our every-other-week house cleaner to not clean our house. Everyone else is getting paid iff they provide current goods/services. We have our own financial survival to look out for until more is clear about the economic outlook.
Re:Effect of economic crisis on America’s small businesses [...
by sjg007 on Saturday March 21, 2020 @08:35PM
(#22651562)
I don't know what to say.. Do you want your local food and bars to remain in business? If so you have to prepay. If you buy a gift card you are basically insuring them against default. I am sure they will factor in some loyalty reward.
Restaurants and bars close and change ownership all of the time.
Re:Effect of economic crisis on America’s small businesses [...
by sjg007 on Saturday March 21, 2020 @09:29AM
(#22646345)
I mean this is what unemployment and governments are for. To insure losses in the extreme. We should have policies and procedures where a 2-4 week or month lockdown doesn’t destroy you financially. That gives the economy and people time to adjust.
I am voluntarily (10% family-preservation, 90% community service) staying in my house. I’m now “hoarding” (to use your hyperbolic term) all the money that would normally go to fuel, eating out, and entertainment.
The restaurant, movie theater, and gas station owner would, circumstances permitting, surely prefer to be able to serve me and I likewise.
Why don’t I just mail checks to people that I’d normally buy from? Because I don’t know what my own economic future looks like. Will I have a job in 6 months? What will my retirement savings look like then? Plus, I can’t just send the money where it would have gone and also send it to the people who are now selling me more at-home food or new goods/services that I need to be productive at home.
I’m fortunate to work as a W-2 office worker/spreadsheet miner, at least for now. If I were a bar, movie theater, or auto repair shop owner or worker, I’d be in a lot worse shape.
This is not a Bezos, Gates, Musk driven problem. This is driven by the inability of the consumer to consume normally.