Thursday, May 06, 2021

What's a K Shaped Economy?

©iStock/Pavio Stavnichuk
Small businesses are a powerful and influential piece of the economy.  In fact, 99.9% of all businesses in the U.S. qualify as small businesses, collectively employing almost half (47.3%) of the nation’s private workforce.

Unfortunately, they’ve also been one of the hardest-hit sectors of the economy amid the pandemic.

The World Economic Forum (WEF) talks about the K-shaped recovery, where some industries see more improvement compared to others that stagnate in the aftermath of a recession.

Read on to learn more.  The good news?  Despite the continued hardships, the global entrepreneurial spirit endures.

WEF says:  "Even in the face of a global pandemic, the perseverance of such metrics prove that the innovative American spirit is unwavering, and spells better days to come for small business recovery."

You might also take a look at the visual, "Mapped:  The State of Small Business Recovery in America."

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