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Alongside thousands of formerly employed federal and corporate workers lies a second group of Americans hit hard by downsized jobs and lost wages without ever receiving a formal pink slip: small business owners.

The economic downturn is hitting the middle class and entrepreneurs hard. Seventy-three percent of U.S. workers are struggling financially, unable to afford anything beyond basic living expenses, according to the 2025 Wage Reality Report . This financial strain leads to reduced discretionary spending, directly impacting small businesses that rely on middle-class consumers.

“Some of us are scaling back, opening fewer days to cut overhead, or collaborating with others to share costs,” said Dr. Chere Goode, an entrepreneur based in O

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