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When Sarah Artz opened the doors of Good Day Shop in October 2019, there was no way for her to predict what the year ahead would bring. Nestled beside a tattoo parlor and two doors down from a cat café on Monroe Street in Madison, Wisconsin, the brick-and-mortar boutique sells a collection of artisan-made home and lifestyle goods but when the pandemic shuttered storefronts in March 2020, Artz knew she needed to adjust her business model if she wanted to survive.
“We launched e-commerce right away when the lockdown started, and it became our lifeline,” she says. “Our community really showed up for us and helped carry us through.”
Inman Connect
Small businesses, which comprise 99.9 percent of all American enterprises, have borne the brunt of the economic downturn resulting from the coronavirus pandemic. Some 4 million of them closed their doors in 2020, and in polling undertaken by the U.S. Chamber of Commerce in December, nearly half of those owning such companies described their financial health as no better than average.
New president Joe Biden has promised to address this matter as part of a sweeping $1.9 trillion COVID-19 relief bill, but that only goes so far, considering there are over 30 million small businesses in the U.S., employing nearly 60 million people.