Millions of small businesses will close permanently if disruption caused by the coronavirus pandemic persists, according to a new survey from Main Street America.
7.5 million small businesses will shut permanently if business disruption caused by Covid-19 continues unabated, according to a new survey from Main Street America.The federal government is trying to limit the toll on business owners via low-interest and forgivable loans.
Yuka Ioroi, co-owner of Cassava restaurant on Balboa Street in San Francisco manages take-out orders on April 8, 2020.Nearly 7.5 million small businesses are at risk of closing their doors permanently over the next several months if the coronavirus pandemic persists, according to a survey. Around two-thirds of entrepreneurs said they may have to shut forever if business disruption continues at its current rate for up to five months, according to a survey published Tuesday by Main Street America, a network of more than 1,600 commercial districts comprising 300,000 small businesses., which polled in excess of 5,850 small business owners.
These figures point to 3.5 million small businesses closing permanently in the next two months, and 7.5 million over the next five months, according to Main Street America. Nine in 10 respondents to the survey, conducted online from March 25 to April 6, have fewer than 20 employees.The $2 trillion coronavirus relief package signed March 27 offers up to
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