October 6, 2020

Delay In Additional Federal Aid Frustrates Small Business Advocates

Original story from   IPBS-RJC

Article origination IPBS-RJC
The delay in another federal stimulus aid package comes as 1 in 5 Hoosier small business could close over the next six months if economic conditions do not improve.  - Justin Hicks/IPB News

The delay in another federal stimulus aid package comes as 1 in 5 Hoosier small business could close over the next six months if economic conditions do not improve.

Justin Hicks/IPB News

A small business advocacy group says Indiana entrepreneurs are frustrated by President Donald Trump’s decision to wait until after the election to pass another federal stimulus package. The delay puts small businesses further on edge with no relief coming any time soon.

The proposed stimulus package included financial aid to small businesses and those unemployed due to the pandemic.

A recent survey conducted by the National Federation of Independent Business (NFIB) forecasts that 1 in 5 Hoosier small businesses will close over the next six months if economic conditions do not improve.

“These folks are not looking for handouts,” said NFIB Indiana State Director Barbara Quandt. “This is something that is beyond anybody’s possible control, or where anybody could ever anticipate such a crisis.”

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Quandt said it’s disappointing when both parties have pointed to the importance of helping small businesses.

“As these months drag on and small business owners are doing what they can, it is frustrating to see that while there’s agreement on small business, we can’t get an aid package going through Congress,” she said.

Quandt said she hopes everyone will come back to the table soon to work out an agreement on additional relief before more small businesses have to close.

Late Tuesday night, President Trump tweeted a call for Congress to approve relief funding for airlines, small businesses and individuals.

Contact reporter Samantha at shorton@wfyi.org or follow her on Twitter at @SamHorton5.

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