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“We could lose the next Starbucks if we don’t support small businesses,” says Howard Schultz

August 5, 2020

The businessman brought together more than 100 company executives to pressure the US government to come up with a plan that would benefit entrepreneurs.

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“We could lose the next Starbucks if we don’t support small businesses,” says Howard Schultz“We could lose the next Starbucks if we don’t support small businesses,” says Howard Schultz

An economic crisis emerged after the health crisis, making it difficult to maintain a company anywhere in the world. To continue working without Titanic losses, financial support from third parties, particularly the government, is required to maintain the jobs and opportunities that every company offers.

With this in mind, Howard Schultz, former CEO of the Starbucks coffee brand, has urged the U.S. government to participate in an initiative that makes this possible Small business continue to operate in the coming years and that they will not fail due to the pandemic.

The businessman, who was CEO of the brand from 1987 to 2000, said: “We were a very similar small company to many companies today, and many of these companies could become the next Starbucks. It’s really important to take that into account, ”he said in the interview for CNBC.

He warned that without government support for SMEs, the next Starbucks could be lost.

His comments come after more than 100 current and past business leaders have signed a letter to the U.S. Congress outlining their country’s future situation for all small businesses. In the letter, which Schultz co-organized, a “wave of permanent closings” was forecast for May next year.

“There has never been anything like this in the history of the United States that could mean the destruction of all small businesses in the country in the coming years,” said Schultz. “These companies don’t have the money to retrain their people.” You don’t have the money to buy inventory. They don’t have the money to buy the rent … they’re desperate right now, and a week is like a year to them. “

The letter also proposed a small business plan that would guarantee loans from the federal government until 2021 and give owners the freedom to decide how to distribute that money within their company. The estimated amount of credit for all companies would be $ 1 trillion Yahoo! Finances.

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