Coronavirus is now at our front doors and continues to make an economic splash in worldwide markets and economies. Local and state governments have been taking dire, but necessary measures to not only combat the spread of the virus, but stimulate the US economy to prevent a market crash that is being compared to the Great Depression.
Oxford Economics predicts, “The zero growth we now project for 2020 will mark the second-weakest year for the global economy in almost 50 years of comparable data, with only 2009, in the depths of the financial crisis, worse.”
With growing worry surrounding the collapse of our economy, the federal government is working on releasing funds for its citizens, small, and large businesses to aid in recovery and to further stimulate the economy, in hopes of preventing a deficit.
We’ve created a guide detailing some of the government resources that are currently in place to help both businesses and individuals.
P.S. Look out for our next guide where we’ll discuss some of the threats facing small businesses and the solutions available to combat them!
P.S.S. Stay tuned to our blog and social media @lunaconcg for updated guides on government resources and news on the effects of COVID-19 in the construction industry.
