US business owners upbeat on COVID-19 vaccine

24 November, 2020 12:00 AM printer

NEW YORK: Promising news about a COVID-19 vaccine has small business owners feeling more upbeat despite cases of the virus surging in many parts of the United States.

Owners hope consumers and businesses will be more relaxed about spending now that two drug companies, Pfizer and Moderna, have vaccines that data show was highly effective in testing, report agencies.

Some owners are rethinking their plans - some are holding off on staff cuts, while others say they are more likely to renew their office leases even as employees still work from home. But owners also realise many hurdles remain - the vaccines still require approval by the Food and Drug Administration, and then it will take time for millions of doses to be manufactured and widely distributed.