MoneyBusiness

Actions

Amid COVID, many businesses in precarious spot as 2020 ends

KERO-Default-Image_1280x720.png
Posted at 11:13 AM, Oct 11, 2020
and last updated 2020-10-11 14:13:49-04

NEW YORK (AP) — The final three months of the year are usually a boom time for many small businesses thanks to holiday shopping and celebrations. But the fourth quarter of 2020 looks precarious as the coronavirus outbreak maintains its grip on the economy. Many restaurants, event planners and even companies like distillers and corporate gift manufacturers face weaker revenues although the holiday season is approaching.

Owners contending with government restrictions or crumbling demand are trying to hold on _ some are creating new products and services or desperately searching for new customers. A few, however, have found they’re already well equipped to meet the lifestyle changes brought about by the pandemic.