Pandemic takes toll on businesses big and small

Pandemic takes toll on businesses big and small

WICHITA FALLS, Texas (TNN) - The Coronavirus pandemic has continued to take its toll on the economy, causing many to lose their jobs and businesses of all sizes to feel its impact.

“It’s more indirect pains that we are feeling from COVID-19 rather than just closures or people not wanting to get out and shop,” Walter Lambert with America’s Small Business Development Center at MSU Texas said.

It’s also things like federal aid programs no longer being around and no clear end to the pandemic that has businesses still struggling to hang on.

“Certain business are still operating with reduced capacity, you’ve got some businesses that are still closed,” Lambert said.

Even large operations are feeling the pressure; Howmet Industrial laid off another round of workers on Tuesday, following a previous reduction of 65 positions just last week.

“Everything becomes local especially when you see your friends and neighbors losing their jobs, even temporarily or possibly permanently,” Woody Gossom, Wichita County Judge, said.

But there are positives coming out of all this, new industries like Panda Biotech, a hemp processing company, will bring in around 50 jobs when it opens in Wichita Falls.

“Certainly bringing in this new operation will offer the opportunity for other things to come in and grow also,” Gossom said.

Lambert adds the entrepreneurial spirit of so many is to thank for that.

“They have the hustle, failure is not an option to a lot of those people and so they are going to find a way to make it work,” Lambert said.

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