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www.crainsnewyork.com: Small-business owners fear they won't make it through the year

Read Full Article Here: https://www.crainsnewyork.com/small-business/small-business-owners-fear-they-wont-make-it-through-year

“Now I can’t walk two blocks without someone asking me for a dollar.”As New York continues to struggle with the economic fallout from coronavirus containment measures, small-business owners across the city fear they may not be able to hang on much longer.

We saw a couple of restaurants and grocery stores leave already,” says Jan Lee, a property owner in Chinatown.

Because the city and state are without the funds to bail out struggling business owners, there’s little that can be done without the the federal government’s help.

But by May their unemployment rate soared to 25.6%, according to a new report by the Asian American Federation.

The noneviction laws the state has enacted also are providing help to small business strapped for cash, he says.

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