Mark Cuban Insists Small Businesses Will Need ‘Many More’ Stimulus Packages to Fully Recover

Billionaire businessman 💼Mark Cuban is explaining why small businesses will need more stimulus packages to fully recover from the coronavirus economic hit.

“The Shark Tank” co-host appeared on MSNBC Tuesday evening, where he was asked if Texas Gov. Greg Abbot’s (R) reopening approach was suitable.

“It’s kind of showmanship,” Cuban said.

According to Cuban, operating at 25% capacity — per multiple states’ reopening guidelines — may prove to be far more difficult than operating at full capacity for some businesses.

Cuban continued, “The reality is a retail store trying to open up or any large venue trying to open, whether it’s a small theater, whatever it may be, when you to restrict it to 25%, it’s going to cost you more to open up than anything you’d actually bring in revenue.”

See Cuban’s interview below:

Based on the current structure of the Payment Protection Program (PPP) and the social distancing guidelines, Cuban offered more detail explaining why small retail businesses will likely end up losing more than they gain. With only 25% of revenue coming in, small businesses may not profit.

“What we’re really missing, because demand is going to be so much less than it was before, just trying to follow some of these guidelines, these small businesses are going to lose more money by opening up for retail,” Cuban explained.