Economy Stands to Lose 4% GDP Without Immediate Assistance to Local Restaurants
The Restaurant Industry will be one of the hardest hit by the economic shutdown from the COVID-19 pandemic. The industry employs over 13 million people across the country, and indirectly employs hundreds of million of workers up and down the food supply and delivery chain — from growers, packers, fisherman, linen services, delivery people and more — who depend on the continued revenue of restaurants to stay in business.
The restaurant industry contributes $1 trillion to the America economy, and represents 4% of the GDP. Â The COVID-19 pandemic has closed thousands of businesses nationwide and up to seven million people have been laid off, and millions of our suppliers will have their bills go unpaid, creating an unprecedented trickle down effect of economic damage to local restaurants and the small businesses that rely on them.
The restaurant industry is seeking your help. Please sign the two petitions below to inform Congress to act now to SAVE OUR RESTAURANTS.
QUICK FACTS
- ​Restaurants generate $880 Billion per year in revenue.
- 90% of that revenue gets paid out directly to employees, suppliers, and for rent.
- The economic activity generated by restaurants account for 4% of the nation’s GDP.
- The federal government can use the restaurant industry’s existing systems to administer aid across the many concomitant businesses that rely upon us to stay afloat.
Author: Black Restaurant Week
About Black Restaurant Week – Black Restaurant Week LLC is an annual, multi-city culinary movement celebrating the flavors of African, African-American and Caribbean cuisine nationwide. Black Restaurant Week partners with black-owned restaurants, chefs, caterers and food trucks to host a selection of culinary experiences aimed to expand awareness and increase support for black culinary professionals. The organization was founded in 2016 by entrepreneurs Warren Luckett, Falayn Ferrell and Derek Robinson. Connect with Black Restaurant Week on Facebook, Twitter & Instagram.
