Why Europe’s small business owners may not survive the virus – The National

Why Europe’s small business owners may not survive the virus – The National

Why Europe's small business owners may not survive the virus. In a small town in southern Italy, a well-known restaurant is closing for good.. The economic damage wrought by the coronavirus is clear in countless stories across Europe, from business owners furiously fighting to keep their firms afloat to those who see no hope.. In France, where more than half of small firms fear bankruptcy, the crisis led to a public showdown on live television between entrepreneurs and the country's finance minister.. Even with massive government financial support, countries face the prospect of countless businesses going under, destroying livelihoods and jobs, as well as weakening a key part of the economy.. Often with low margins and few reserves, small businesses are more vulnerable than bigger groups.. In Italy, subsidies and loans have proven harder to come by, and some don't see a point in fighting on.. A gym owner, a construction entrepreneur and a Michelin-starred chef bombarded Finance Minister Bruno Le Maire with questions, arguing that many small businesses will go bust if they are forced to pay rents or loans.. Erasing debts could be justified both in terms of protecting jobs and the economy.. One question is whether governments