Small Businesses: Going Digital, Surviving COVID

COVID-19 has pushed small businesses to the brink. A survey from the Federal Reserve Bank shows three out of every 10 small businesses in the U.S. say they won’t survive 2021 without additional government assistance. For the ones lucky—or savvy—enough to stick around, a digital presence is key.   On today’s Brainstorm, hosts Michal Lev-Ram and Brian O’Keefe trace the path small businesses must take to digitize. Visa’s Mary Kay Bowman explains how customer demand for contactless payments has engendered new ways to buy and sell.  April Underwood, founder and CEO of Nearby, discusses leveling the playing field between massive online retailers and small businesses by creating a local, online marketplace.  Also in this episode, Kelsey Moriera, CEO of Doughp, talks about transforming her cookie dough company into an e-commerce business in the early days of the pandemic, and Luke Pardue, an economist with the company Gusto, talks about some surprising trends he’s seen from small businesses weathering the pandemic.  Learn more about your ad choices. Visit megaphone.fm/adchoices