Question

What are some of the Economic decision that needs to be set in place to see a thriving economic recovery?

Answer 1

Some of the economic decisions that needs to be taken for thriving economic recovery are as under-

1) Venture-capital backed companies targeted funding:

VC funding has been on rise in the past decade. States can step in and ease the path to sustainable recovery, especially in the case of VC-backed companies that are struggling to get federal funding due to affiliation rules.

2) Campaigns to stimulate local economies :

Cities across the United States have started movements to support community businesses such as Chattanooga’s “Chattanooga To Go” delivery campaign and Philadelphia’s #Five4Fifty campaign to spend $5 at a small business each day for 50 days. States such as Maryland, New Hampshire, and Texas have further relaxed regulations to stimulate local demand

3) Supplementing federal relief efforts:

California has established a $50 million microlending program for businesses that are not eligible for Small Business Administration loans. Similarly, Chicago enacted a $100 million small business resiliency fund to assist businesses that could not get support from the federal Paycheck Protection Program

4) Connecting the newly unemployed quickly with talent-seeking industries:

Create a job portal to connect the unemployed to short-handed businesses like grocery stores and large retail.

5) Tapping into help from existing institutions:

Ohio is providing targeted relief to rural small businesses by giving $2 million in funding to Appalachian Growth Capital, a community-development financial institution formed in 2017 that is processing long-term, low-interest loans in 32 Appalachian counties.

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