Tuesday, December 28, 2021

How the great depression affected small businesses

 https://biziq.com/blog/american-small-businesses-past-present-and-future/

Small businesses suffered great losses during the Dust Bowl and the subsequent Great Depression during the 1930s. From 1929 to 1933, manufacturing productivity decreased by a third, while prices fell by 20%, causing severe deflation. Unemployment skyrocketed from 4% to 25%. In 1931 alone, 28,285 businesses failed, at a rate of 133 a day. Most of these were small businesses.

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