WASHINGTON: Eighty-one per cent of small US companies surveyed by Veem, a global payments network, expect the new coronavirus pandemic to affect ...
WASHINGTON: Eighty-one per cent of small US companies surveyed by Veem, a global payments network, expect the new coronavirus pandemic to affect their business over the next 12 to 16 months, and nearly 90 per cent are bracing for an economic slowdown, the company said Monday .
The US economy - the largest in the world - has been particularly hard hit by widespread shutdowns aimed at containing the spread of COVID-19, the disease caused by the coronavirus. US government data on Friday showed the unemployment rate surging to 14.7 per cent last month. The White House said joblessness could hit 20 per cent in May.
About 30 per cent of the companies were more optimistic, suggesting that some industries were better positioned to thrive in the current environment, Forzley said, citing online retailers and other e-commerce businesses.
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