Shake Shack Will Return Its Entire $10 Million U.S. Government Loan

The video discusses the allocation of $10 million in loans by the US government, aimed at supporting small businesses during the coronavirus pandemic. It highlights the criticism faced due to large companies accessing these funds and the challenges in ensuring the funds reach those in need. The video also covers global efforts to provide relief to SMEs, noting the uneven responses across different countries. While some nations like Germany and France have been more successful, others face significant hurdles, with small businesses struggling to access necessary support.

What was the main criticism regarding the $10 million loans from the US government?

• They were only available to tech companies.

• They were not approved by Congress.

• They were too small to make an impact.

• They were given to large companies instead of small businesses.

Why is it crucial for governments to support small and medium businesses during the coronavirus pandemic?

• They are the only businesses that pay taxes.

• They contribute to 50% of the workforce and GDP in G7 countries.

• They have the largest market share in the tech industry.

• They are immune to economic downturns.

Which country had only 1% of companies reporting successful applications for relief funds?

• United States

• France

• Italy

• United Kingdom

What was a significant issue faced by Italian firms regarding relief funds?

• Funds were only available to new businesses.

• There was no need for relief funds.

• Funds were too large to manage.

• Relief was not arriving quickly enough.

Which countries were noted for having the most successful relief fund applications due to their existing bureaucracy?

• United States and Italy

• Germany and France

• United Kingdom and Italy

• France and United States