Government shutdown would hurt U.S. small businesses, survey indicates

Posted under: MSME
Date: 2023-09-28
Government shutdown would hurt U.S. small businesses, survey indicates

More than two-thirds of small businesses say they would be negatively impacted by a government shutdown, according to a new survey. A potential government shutdown, triggered by disagreements over spending, is less than a week away. It will take effect Oct. 1 unless Congress passes 12 appropriations bills setting discretionary spending levels. A shutdown would result in tens of thousands of federal employees being furloughed without pay, with economic spinoffs likely to become more significant the longer the shutdown lasts. Gloria Larkin, president and CEO of TargetGov said it wouldn’t be fair for mom-and-pop shops to be affected by political discord. She further said a government shutdown would slow the economy, undercut consumer demand, and disrupt access to government resources small businesses depend on. Neil Bradley, U.S. Chamber of Commerce executive vice president, said obtaining a loan will become more difficult and time-consuming in the event of a shutdown.