By Clint Betts
December 18, 2020
Restaurants Are Dying
I have just one point to make today: Restaurants across the country are dying. I want CEO.com to do something to help, but something like this needs all of us working together on a solution. We must step up, as a community of leaders, to serve these small business owners and their employees as best we can.
Barstool Sports founder Dave Portnoy launched The Barstool Fund yesterday. I don’t know much about Dave or Barstool Sports, but the video he released on Twitter announcing the fund is worth watching. Will it work? I have no idea. At least he’s doing something.
My question to you and this community: What will work? How can we help?
As I wrote on Wednesday, the National Restaurant Association recently released a report stating 17% of restaurants in the United States have closed for good. That’s more than 110,000 restaurants. More than 10,000 have closed in the last three months alone. Earlier this year, Yelp put out a report stating 60 percent of the businesses that closed on its platform would be doing so permanently.
This is a crisis.
Major corporations appear to be thriving, but the small business owners without armies of lobbyists have been abandoned. A much-need stimulus was delayed until after the presidential election because… well, who the hell knows other than politicians putting electoral considerations over the populations they claim to serve.
Do politicians understand? Does it matter whether they do or don’t?
My sense is the stimulus currently being pushed won’t be enough and won’t make it into the hands of those who need it most.
I want CEO.com to do something for small businesses that are getting decimated right now. In particular, restaurants and bars and other service-oriented businesses. Government is telling them to shut down but not offering much help or guidance on what to do after that.
What should we do? How can you help? Email me at email@example.com.