Lasting Impacts of the Shutdown on Small Businesses - Newschannel 6 Now | Wichita Falls, TX

Lasting Impacts of the Shutdown on Small Businesses

The government shutdown has affected many of Texoma's small businesses. Even though it has ended, its impacts will still linger.

"They have not received payments for services or products already delivered. They are having to make up for those costs out of their own pockets," said the Director of the Midwestern State University Small Business Development Center Vanda Wright.

Luckily, small businesses will start to get reimbursed. All the payments have become retroactive. However, how they're repaid will determine how quickly they'll recover.

Wright said, "If it's provided in a lump a sum situation then I believe it will be much quicker." If small businesses are paid back in payments then it could a lot longer.

Small businesses with government contracts weren't the only ones affected.

"To go three weeks to a month without payroll affects the money that consumers put back into the economy... We had small businesses trying to figure out do I cancel orders, do I cut back on inventory and what's the holidays season going to be like," said Wright.

The businesses that just opened were hurt worse than the businesses that have been around.

"If a business is brand new their pockets are not as deep. They don't have a built up profit... They would be less likely to be able to go three weeks without payment," said Wright.

Unfortunately, small businesses who rely on government contracts could not just find new customers. Businesses in our area don't buy and consume products at the same rate as Sheppard Air Force Base.

James Parish, Newschannel 6

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