July 21, 2020: One-third of 230,000 businesses in New York City will never reopen and are shutdown forever, according to the report released by The Partnership of New York City. The report addressed the following outcomes:

– Business owners are facing high rent and regulatory Tax.

– The Small businesses had a fund to survive three months in such situation and, the country has exceeded the three months in this pandemic

– The pandemic has reduced the traffic flow to the office and, meeting customers face to face would be a difficult task in the coming days.

– Lack of skilled laborers within NYC that still has 200,000 vacancies in the Accounting and Business Development Department.

– The Tech companies have survived in the pandemic as work from home was not new for them.

– Few companies invented the local health pass which indicates the health of the employee and allows to work which will lead them to profit

Alternate plans to overcome the hotel, retail, and hospitality section within the city were published in the report on Monday.