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Silicon Valley, New York City, and other capital-rich business hubs don’t have much to worry about when it comes to rebounding after the pandemic. They already had strong infrastructure in place.
Meanwhile, conditions for less robust--but to this point emerging--business hubs aren't looking too hospitable these days, says Rodney Foxworth, the CEO of Common Future, an Oakland, California-based advocacy group for community-based economic development across the U.S. The picture is even more bleak in rural and poor regions of the U.S.
A January 2021 study from Utah State University, Yale University, and New York University on wellbeing in the rural North American West found that more than 21 percent of the region's full-time workers have either become unemployed or shifted to part-time work during the pandemic. And a December 2020 report from the Brookings Institute, a Washington D.C.-based think tank, cites a lack of adequate access to capital and broadband connectivity as significant barriers to rural small-business revitalization in the post-Covid world.
Cities and towns can recuperate, though--and Foxworth has three keys for reviving Main Street small businesses and rebuilding America's smaller startup ecosystems. Read our story to learn his vision for what’s going to save your Main Street. |
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