Damage to Retailers and Small Business Continues to Widen
Today's New York Times reports that retailers and small businesses continue to be damaged by the terror attacks on September 11. This article is primarily about small consumer-oriented retail businesses in Manhattan, but the problems that it documents have hurt small businesses of all sorts in New York and New Jersey.
According to the article: "Small businesses, including many retail establishments, account for two of every five jobs
in New York City and roughly half of all jobs statewide, so the drought among
small-business owners presages economic pain that is likely to spread far beyond Lower
Manhattan. And while numerous grant and loan programs have sprung up to help small
businesses recover from the disaster, business owners have complained, in a growing
chorus, that the grants are too small to stem their losses and that loan agencies are not
approving loans."