Heard on the Street – here’s what we were reading last week:
A Brooklyn-Born Lifestyle Brand Expands in Real Life: New York City small business revenue dropped 36% and the number of small businesses open decreased 22%, from January to June, according to a recent report from advisory firm Next Street.
Momentum For Coronavirus Relief Bill Builds, But Time Short As Parties Work On Deal: After months of partisan standoff on Capitol Hill over the size and composition of another round of coronavirus relief, key signs of progress emerged as the House and Senate moved closer to a possible deal.
‘We Call That Survival Mode.’ Small Businesses Face Uncertain Future: As many as four million small businesses could be lost in 2020, analysts say, as the pandemic takes its toll on local economies. WSJ visits Yuma, Ariz., where small business owners say another round of stimulus from Congress may be too little too late.
1 Percent of P.P.P. Borrowers Got Over One-Quarter of the Loan Money: Newly released data gives the most detailed accounting yet of the pandemic aid provided to 5.2 million businesses that sought forgivable loans.