This Small Business Week, Nevada small businesses are still bearing the brunt of Donald Trump’s failed leadership and cratering economy. As a result of Trump’s disastrous pandemic response, the hardest-hit small businesses were left behind while big corporations and wealthy donors benefited. Nevada is home to more than 280,000 small businesses, employing more than half a million people across the state. At the worst point during the crisis, Nevada saw the highest unemployment in the nation. Now, Nevada is still facing a double-digit unemployment rate, more than 1,500 lives lost, and hundreds of thousands out of work.
Valeria Varela, a Las Vegas entrepreneur in the hospitality industry, released the following statement calling out Trump’s failed leadership and applauding Joe Biden and Kamala Harris’s plan to build back better:
“Thanks to Trump’s failed leadership, working families across Nevada are facing the worst economic meltdown since the Great Depression and small business owners like me are being hung out to dry. Meanwhile, Trump has no issue letting his billionaire friends profit off the pandemic while hardworking families are left behind and left in the lurch. Under Trump, the administration has given massive windfalls to the wealthy and well-connected at the expense of working families. To make matters worse, Trump botched the delivery of badly needed assistance to the hardest-hit small businesses, particularly to small business owners of color like myself. Now more than ever, we need leaders like Joe Biden and Kamala Harris who will put working families first and help us build back better.”
Background on How Trump Has Left Behind Nevada Small Businesses
Trump’s ineffective pandemic response and failing economy have been a disaster for Nevada’s small businesses.
- As of mid-September, the number of small businesses open in Nevada decreased by 25% compared to January 2020, while total small business revenue plummeted by 24.8%.
Trump’s botched pandemic response delayed badly needed assistance for small businesses — yet he still managed to look out for rich corporations.
- Trump botched the rollout of the Paycheck Protection Program, which was plagued by technical glitches and website crashes, and failed to provide adequate guidance, delaying badly needed assistance for small businesses.
- Instead of helping small businesses that needed aid the most, Trump let funds meant for small businesses go to large corporations, and companies owned by his donors and allies.
Small businesses across Nevada have closed, and business owners of color are being hit disproportionately hard. But Trump failed to provide more relief.
- Small businesses are the lifeblood of Nevada’s economy, especially in communities of color. But Trump’s rules for the Paycheck Protection Program prevented many small firms and minority-owned businesses from getting any help at all.
- More than 110,000 small businesses across the country have closed permanently — and business owners of color have been hit disproportionately hard. Forty one percent of Black-owned small businesses, 32% of Latinx-owned businesses, and 26% of AAPI-owned small businesses closed between February and April.