Data published by the Small Business Administration (SBA) late last year revealed that more than half of PPP funding went to just five percent of recipients. As reported in the New York Times a quarter of the dollars disbursed went to the top one percent despite the $349 billion program’s aim to ease some of the financial burden for the nation’s smallest businesses.
Public policy drives wealth in the United States. Business cooperatives are proven models for lifting up and sustaining marginalized communities during crisis. In our featured slideshow we highlight the economics of cooperatives, the role of public policy in wealth inequality and how shifts in public funding can expand access to collective economies for those who need it most.
In the USA and overseas, cooperatives have excellent track record of economic resilience and success that should be targeted for public and private funding and procurement opportunities.