Video Transcript
But it's hard if you've taken a significant amount of losses in your business, and you may not have the capital. A lot of these businesses are going to fail. Unfortunately my projection is that you'r probably going to lose 25% to 30% of all restaurants. We'll probably lose a quarter of all hotels. And there's just going to be a whole host of businesses that won't restart. And why is this so important? It's not just that that one restaurant fails or multitudes of restaurants. But they're the job engine. Small businesses are the job engine for America. It's when small businesses go from small businesses to medium, to big companies. That is what creates job and opportunities for Americans. So I'm really concerned that we're going to be in kind of a long term higher level of unemployment. Maybe a permanent 10% unemployment for a number of years. Because it's not going to just snap back on.— Eric Hovde
Share
Sign In to comment on this quote
