PHILADELPHIA (KYW Newsradio) — Philadelphia Councilmember Cherelle Parker is kicking off Small Business Week by saluting small businesses and entrepreneurs across the city, and encouraging people to shop at these businesses to better impact economic recovery from the pandemic.
She gathered small business leaders Monday to discuss how Pennsylvania is providing direct support to small businesses in their recovery from the COVID-19 pandemic by allocating $225 million for small business assistance through the CARES Act.
Leaders call it a much-needed additional cash infusion to what they call the economic engine of the city.
Lambros Karazournias, the owner of the Olympia House restaurant on Castor Avenue in the Oxford Circle neighborhood of Northeast Philadelphia, said things got pretty rough during the height of the pandemic.
“They shut us down for two months and it was only take-out,” said Karazournias. “There were mask mandates and on and on. But our loyal customers stood by us and did what they had to do, and we did what we had to do, and I’m very grateful and thankful for everyone.”
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It was an emotional roller coaster for many business owners, and some still need long-term support recovering from the pandemic.
“We have to have a plan, we have to assist, and we have to educate, support and go out and patronize small businesses,” said Greater Northeast Philadelphia Chamber of Commerce President Pam Henshall.
“We can’t just shop online and think that the small businesses around the corner are going to stay relevant.”
Karazournias said that when people support their local business, they support their local neighborhood.
“It’s great for Philadelphia that people go out and support us,” said Karazournias. “Go out and eat at the mom and pop restaurants. Support your local hardware store. It helps the economy and it creates jobs.”
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Pre-pandemic statistics from the Small Business Administration show that for every $100 spent at a small business, $48 goes back into the local economy compared to just $14 at a big box store.
Parker said that Philadelphia has over 22,000 small businesses that employ more than 250,000 people, and they need continued support.
“Our being here today affirms that we don’t want them to simply be in existence and survive, but we want them to thrive and grow," said Parker. "Access to capital, and that’s equity capital; we’re not just talking about loans.”
The chamber has been working with the Small Business Administration and other grassroots organizations to assist and counsel small businesses throughout the pandemic.
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