Goldman Sachs' Asahi Pompey on Challenges Faced by Small Businesses

The video discusses the challenges faced by small businesses, including inflation, supply chain issues, and labor shortages. It highlights the importance of local shopping and the potential challenges in 2022. The video also addresses concerns about labor and inflation, structural shifts in the economy, and the role of small businesses. It emphasizes the adaptation and innovation of small businesses during the pandemic and the ongoing issues of access to capital for minority and women business owners.

What are the three main challenges currently affecting small businesses?

• Environmental regulations, tariffs, and interest rates

• Technology, marketing, and customer service

• High taxes, low demand, and competition

• Inflation, supply chain issues, and labor shortages

Why are small businesses concerned about the Omicron virus?

• It could lead to more competition from large corporations

• It may cause a rise in interest rates

• It could impact their ability to find employees

• It might lead to increased taxes

What percentage of small businesses have pivoted their business during the pandemic?

• 95%

• 73%

• 87%

• 50%

What is a significant barrier for minority and women small business owners in accessing capital?

• Insufficient marketing strategies

• Limited product offerings

• Higher rejection rates compared to their white counterparts

• Lack of business experience

Which organization has been working with CDFIs to support minority and women small business owners?

• Goldman Sachs

• Federal Reserve

• Amazon

• Walmart