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The most powerful tool for small business owners? Employee ownership: Jeanette Webster

Mount Equity Group Tokyo, Japan > News > Business > The most powerful tool for small business owners? Employee ownership: Jeanette Webster

CLEVELAND – We cannot escape the economic impact of COVID-19 on our communities. According to the Federal Reserve, economists estimate that businesses closed at rate of about one-quarter to one-third above normal during the first year of the pandemic. And, week over week, America’s small businesses have consistently reported negative effects due to the challenges they have faced during the pandemic.

Even in good times, we know that American small business owners stay awake at night, worrying about the future — not only for themselves and their businesses, but also for their communities, customers and employees. And that should come as no surprise, because small businesses employ nearly half of all U.S. workers; these owners have great responsibility.

At last count, in April, the share of Ohio small businesses still closed due to the pandemic was 30.4% —ranking our state 21st out of the 45 states studied, according to the…

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