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Can U. S. Businesses Survive the COVID-19 Pandemic?
Learning From a U. S. Family-Owned Business
The COVID-19 pandemic significantly affected Mr Aguirre, a family business owner based in Arizona. He lost his father, clients, and business, and he accrued enormous financial debts due to his family medical bills. Like Mr Aguirre, a considerable number of family business owners and staff in the United States confronted a difficult situation for their families and businesses because of COVID-19. Despite being one of the frontline contributors to the U.S. economy, family business owners and staff are undervalued by financial institutions as well as governmental agencies. This case discusses how the COVID-19 pandemic impacted family businesses across the United States and considers strategies family businesses could draw on to help them survive this period of struggle.