WXYZ-TV: Bertie Greer on how small businesses in metro Detroit navigated pandemic aid
It's been more than three weeks since Michigan's remaining COVID-related restrictions lifted, so The Rebound Detroit explored the hit small businesses have taken during the pandemic, what recovery is looking like now, and the road ahead. For many metro Detroit small businesses, government aid during the pandemic has been a vital lifeline. Where payroll wasn't a business' largest expense other federal programs sought to fill the gaps, like the Shuttered Venue Grant and the Restaurant Revitalization Fund; we saw locally a major hiccup with the latter, when funds ran out before all those approved could get their cash. "Big businesses have continuity plans," said Prof. Bertie Greer, associate dean at Wayne State's Mike Ilitch School of Business. "They have already put together some thoughts and done risk management," she said. On top of generally having less cash on hand, makes smaller businesses especially vulnerable during a period of uncertainty like a pandemic, Greer said.