as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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describe the impact of covid-19 on small businesses.
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covid-19 has had a devastating impact on small businesses, especially those that rely on customer footfall, such as restaurants and retail stores. many have had to close their doors and lay off employees, creating economic hardship at the local level.
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