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Small businesses likely to suffer from financial impact of COVID-19

(WSAW)
Published: Mar. 16, 2020 at 9:52 PM CDT
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It will be quite a while before we know what the financial impact will be from COVID-19.

But the biggest impact will, no doubt, be felt by local businesses.

Wausau Chamber of Commerce President and CEO Dave Eckmann says this has the opportunity to be much bigger than the Great Recession because it's happening so quickly.

According to Eckmann, many local businesses most likely don't have the financial nest egg that will be required for the longevity of this crisis.

Some establishments began to feel the blow last week.

"We have to make a much stronger approach as to how we're going to do commerce locally," Eckmann said. "To spend money locally. It's going to take all of us working together to make a better place after this is over."

The Wausau Chamber is teaming up with other chambers in the area to share ideas on how to help local businesses get through these times.

Eckmann adds the Small Business Administration is coming out with a message to all the chambers across the nation tomorrow.

They'll be able to find out the latest info at wausauchamber.com.