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Challenges faced by small businesses in adapting to new market conditions
1:25:45
ยท
68 sec
Council Member Vickie Paladino outlines the various challenges small businesses face in adapting to new market conditions post-COVID. She emphasizes the financial struggles and the difficulty in competing with large online retailers.
- Highlights the lack of financial resources for small businesses and mom-and-pop shops
- Mentions high interest rates on business loans as a barrier for small businesses
- Discusses the competition from Amazon and other online retailers, acknowledging her own use of these services
Vickie Paladino
1:25:45
How how can we help the small business owner, the mom and pop?
1:25:49
They don't have any money.
1:25:51
They just don't.
1:25:53
So when they go to apply for these business loans, the interest rates is through the roof.
1:25:57
Yep.
1:25:57
We're really in a in a situation here where I'm guilty as everybody else is about Amazon.
1:26:03
They're at my house 3 times a week.
1:26:05
They deliver my groceries now.
UNKNOWN
1:26:07
Mhmm.
Vickie Paladino
1:26:07
I used to go to a grocery store every you know, we are talking about hard goods.
1:26:12
You're talking about, you know, clothing stores.
1:26:15
I'm wearing right now.
1:26:16
I ordered it online.
UNKNOWN
1:26:18
Mhmm.
Vickie Paladino
1:26:18
It's pathetic.
1:26:19
I'm as guilty as everybody else is, but we we're in a situation where we have to figure this out.
1:26:25
Bring neighborhoods back.
1:26:27
Drum it up that people in the neighborhoods you are responsible for participating and keeping your small businesses alive.
UNKNOWN
1:26:36
Mhmm.
Vickie Paladino
1:26:37
You, the people, are responsible for that.
1:26:40
It's hard to resist that instant gratification.
1:26:43
We, as workers, that what we do for a living, we don't often have the time that we used to have.
1:26:48
Right.
1:26:49
So to your point, I know you're doing everything that you can.
1:26:52
I worry I I I put my notes away, but, you know, I see watch list.