90 percent of independent venues in jeopardy of shuttering without federal funding, study shows
Without additional federal funding, 90 percent of independent venues could close permanently in a few months, according to a new report by the National Independent Venue Association. In a recent release, NIVA points out that independent venues were the first businesses to close due to COVID-19 and will be some of the last to open up again. With no revenue options, venue owners are finding it hard to remain open.
NIVA is an association founded by independent venue owners at the onset of COVID-19 shutdowns. Currently, they have nearly 2,000 members across the United States. The organization’s goal is to protect the venue owners and music industry throughout the economic hardships provoked by the COVID-19 pandemic.
In light of venue owners’ struggles, NIVA is calling on the United States Congress to provide additional financial support. Specifically, NIVA is asking Congress to pass a proposed bill which would enhance current Paycheck Protection Program support, as well as suggesting additional relief through tax credits. View NIVA’s full fact sheet outlining their analysis of the current situation here.
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