Two years ago today, the American economy – and America’s small businesses – were facing unprecedented challenges.
The COVID pandemic, still in its first months at that point, destroyed more than 20 million jobs in April 2020 alone. More than one in eight Americans who wanted to work struggled to do so as unemployment surged to its highest level since the Great Depression.
Small businesses, which had been outpacing larger companies in job growth before the pandemic, were especially hard hit – with more than 6 million small business jobs lost in a single month, meaning small businesses across the United States were forced to scale back or even shut down their operations entirely.
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