Letter to the editor: Main Streets in small communities in need of capital
Main Street America is getting hammered financially though it is extremely important to our economy. I refer to main street as that sector of the economy that encompasses small businesses. According to the Small Business Administration, they account for 44% of all U.S. economic activity and provide dynamic innovation and two-thirds of all new jobs.
2019 saw roughly $21 trillion in gross domestic product by the end of the fourth quarter, which means small businesses move a lot of capital, create a lot of jobs and are of paramount importance to this nation’s economic health.
There is a massive call for capital to resuscitate our nations’ small business community, and nowhere is that more evident than in small mountain communities such as Summit County. For those who through hard work are fortunate enough to have an investment portfolio, I would ask that they scour their holdings to determine what they simply do not need. I suggest divestment from those far-flung emerging market debt funds to bring the capital to our ailing businesses community.
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