Dear Editor:

In speaking with a local business owner, they can’t open next year if they don’t have a good July and August. As the harbor reopens, there has been chatter about things returning to “normal.” In investing, I deal with probabilities daily, and question the probability of things returning to normal soon, and what this means for our local businesses.

Currently, restaurants are restricted by social distancing requirements. People want to go out, but many are still cautious. For an idea of what returning to normal could look like, we can reference driving data from China and Italy. Italy is about three weeks behind China, and the U.S. is about three weeks behind Italy. We see driving data show people going to work, but nowhere else. Evenings and weekends, traffic is down by as much as 85% in certain areas (source TomTom). This tells us that COVID-19 is a broader event than many believe.

It’s staggering to have 36 million people unemployed; 25% of the U.S. workforce is either unemployed or forced to work reduced hours/salary. Are they going to spend money on vacations and leisure, or are they more apt to curtail their spending?

Virus resurgences have happened in some parts of Texas, but not so much in parts of Georgia. If we go by what our state has done in the past, we could see another shutdown if the virus escalates.

What does this mean for our local businesses? This tourist season is going to be short and brutal. Businesses should direct every ounce of effort, energy & creativity into the coming days because we don’t know how long we have. Extended hours/days, delivery services, anything to take advantage of the limited dollars coming into the community. What is the Chamber of Commerce doing to help? Business owners should talk to each other, help each other. Locals and summer residents must buy from each other, do business with local professionals, and patronize your favorite eatery frequently if you are able. Today, we need each other more than ever. Together we will not let our businesses fail.

Adam Maguire

Boothbay Harbor