1
00:00:00,000 --> 00:00:03,000
is to help eradicate business COVID.

2
00:00:03,000 --> 00:00:04,680
Actually, to actually eradicate,

3
00:00:04,680 --> 00:00:06,400
not help, to eradicate business COVID.

4
00:00:06,400 --> 00:00:09,560
So business COVID is a term that I coined,

5
00:00:09,560 --> 00:00:11,760
which basically described the situation

6
00:00:11,760 --> 00:00:15,080
that there are 1.7 million small to medium-sized businesses

7
00:00:15,080 --> 00:00:19,600
in the US alone that stand to 250 employee businesses.

8
00:00:19,600 --> 00:00:23,600
And 85% of these businesses disappear.

9
00:00:23,600 --> 00:00:28,600
Actually, 185,000, so 10%, disappears each year.

10
00:00:28,600 --> 00:00:31,880
And I believe that these businesses disappear

11
00:00:31,880 --> 00:00:35,320
because they get disrupted or they don't,

12
00:00:35,320 --> 00:00:38,880
not able to transition to the next generation

13
00:00:38,880 --> 00:00:41,400
or to independent management

14
00:00:41,400 --> 00:00:44,320
or they don't know how to market and sell,

15
00:00:44,320 --> 00:00:46,760
to grow themselves if they can't grow, they stall.

16
00:00:46,760 --> 00:01:01,760
So there are many reasons why they disappear.

