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Small Business Continues to Crater in USA!

16 months into the pandemic, some 34% of American small businesses remain shuttered. Given the critical importance of small business to employment levels, the economic outlook remains daunting.

Some 34% of US small businesses remain closed due to the pandemic
Some 34% of US small businesses remain closed due to the pandemic

Some cities are doing it a lot worse that others. For example, in San Francisco and New York, the numbers are a staggering 48% and 44% repectively. Of the listed cities, Salt Lake is the ‘least effected’ with a shuttered rate of ‘just’ 23%.

Meanwhile, on the other side of the Pacific, both Australia and New Zealand are experiencing strong growth in small business startups. Both countries acted quickly and aggressively to protect their people against COVID with early lockdowns and enforced social distancing.

You can get the full picture on the impact on USA businesses here

How optimistic are you as we move toward Q3 and ever-increasing vaccination rates? When do you think small business will fully recover – if ever?

What do you think?

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Written by David

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