The Trump Effect on Small Businesses

The transcript discusses the impact of COVID-19 on small businesses, highlighting over 80,000 closures. It emphasizes the economic role of firms with fewer than 500 employees and outlines the Trump administration's agenda to create 1,000,000 new small businesses. The pandemic's disproportionate effect on minority communities is noted, with increased job exposure and economic risks. Pre-COVID-19 job creation efforts, particularly benefiting women and minorities, are also mentioned, along with the introduction of opportunity zones to tackle poverty.

What percentage of U.S. economic activity is contributed by firms with fewer than 500 employees?

• 22%

• 44%

• 88%

• 66%

What is one of the goals of the Trump administration's second term agenda?

• Increase taxes on small businesses

• Focus on large corporations

• Create 1,000,000 new small businesses

• Reduce the number of small businesses

Which group is creating small businesses at a record pace according to the transcript?

• Senior citizens

• Men

• Women

• Teenagers

Why are minority populations more affected by the pandemic?

• They work from home more often

• They have more savings

• They have better healthcare access

• They are more likely to be in high-risk jobs

What initiative is mentioned as a new effort to tackle poverty?

• Universal basic income

• Increased minimum wage

• Opportunity zones

• Tax cuts