I can’t pretend to know how this is going to shake out but I am going to stay the course for now. I am lucky enough to be in a position to ride it out, at least until we have better information. I hope other sellers who are in a position to do so without risking immediate family needs will also stay the course. If Etsy experiences a steep drop in revenue along with a stock hit and bank collapse, it will make it that much harder for them to catch up. I have no sympathy for corporate Etsy but I do have sympathy for the small businesses who need their money now. A lot of people are living paycheck to paycheck and not necessarily due to poor planning. If we take our earnings out of Etsy, I worry that will make it harder for everyone to get what’s owed to them.
That said, however, the ‘mompreneurs’ article was irresponsible journalism at best. They quoted one woman as saying she might not be able to make her mortgage payment. I get that worry and believe it’s legit, but reporting on her fear as if it were proof that disaster is imminent for small sellers is just fanning the flames and leading people to panic, which is how a run happens in the first place. I’m not saying disaster isn’t imminent, but panicking makes it worse. I wish journalists would report on the facts and speak to financial advisors who might have something helpful to say.
I hope that woman is able to pay her mortgage, I hope I get my money, I hope Etsy survives because for all its massive flaws, I like selling here. So I’m going to keep my shop open and wait to see what happens. I understand it’s just not financially viable for some shops to stay open at the moment, but I hope all who can will do so, and I hope the ship rights itself quickly.
