On December 7th, Our Revolution Arlington hosted an event which brought together a diverse group to talk about the impact of the ongoing pandemic on small and independent business owners, and what solutions exist for responding:
With new lockdowns looming and federal support stalled indefinitely, what options do state and local governments have to keep small businesses afloat in the months ahead. In addition, how might we strengthen small business over the long term as part of more inclusive community development strategies?
Among panelists were ILSR’s Kennedy Smith (Senior Researcher, Independent Business initiative) and Christopher Mitchell (Director, Community Broadband Networks initiative). They were joined by Donna Grambrell (President/CEO Appalachian Community Capital), Tony Hernandez (Director, Dudley Neighbors, Inc.), and Marjorie Kelly (Executive Vice President, The Democracy Initiative).
Kennedy talked about a recent ILSR report showing the variety of responses available to communities and states to protect small business and ensure a more equitable outcome for economic recovery. Christopher talked about the variety of ways local ownership of information infrastructure can help small business weather a pandemic, but also set up communities for success in fostering business and commercial districts that attract talent, capital, and residents for the next decade.
The other panelists touched on models for preserving local business ownership through temporary equity actions via “economic preservation funds,” the outsized impact of the pandemic on minority-owned businesses and how to help, and the formation of community land trusts to combat gentrification and land speculation.