Small businesses are particularly vulnerable to extended shutdowns. 'Their average cash buffer is about 27 days, and for restaurants and some Main Street businesses, it's even less,' says one small business expert.
Nike - Closing all stores in U.S., Canada, Western Europe, Australia and New ZealandUrban Outfitters
"We will be closing all of our retail stores outside of Greater China until March 27," Apple's CEO Tim Cook said in a statement. Stores in China are re-opening as that country says it has contained the outbreak. Cook said working with China has helped Apple chart a course for its response in the rest of the world.
Small businesses are particularly vulnerable — many don't have enough cash on hand to survive an extended shutdown. And if a lot of small businesses get hurt, that can be very damaging for the overall economy. "Their average cash buffer is about 27 days, and for restaurants and some Main Street businesses, it's even less," she says. So she says if you shut the door, you,"turn off the spigot of all the cash coming in and you're still paying employees and other expenses like rent and your loan payment, then pretty soon you run out of money and it's not a very long time frame."for small businesses and that's good.
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