Why the social impact sector should demand — not ask nicely for — bailouts
Why It Matters
As COVID-19 continues to force the shutdown of businesses and industries, those same businesses and industries are demanding support from governments. Should charities, social enterprises, and non-profits — who have so far asked nicely for smaller amounts of money than their corporate counterparts — do the same?
By now, we’ve heard from industries and corporations across the world, calling for government support to mitigate the impacts of COVID-19 shutdowns.
The calls for bailouts follow the same argument. When consumer demand drops so precipitously, there’s a risk companies go bankrupt, and cannot be revived when COVID-19 restrictions finally lift. It is simply non-negotiable that airlines need government financial aid. Of course, the cruise line industry needs a bailout, even though they’re registered offshore to avoid paying tax. It’s unthinkable that the hotel industry could go without a $150 billion bailout.
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