Here we have highlighted truths that Main Street America has posted on how COVID- 19 has greatly impacted small businesses world wide.
“Millions of small businesses will be at great risk of closing permanently if the crisis continues for several months. Of the nation’s approximately 30 million small businesses, nearly 7.5 million small businesses may be at risk of closing permanently over the coming five months, and 3.5 million are at risk of closure in the next two months.
COVID-19 has had a devastating impact on small businesses’ revenue, and millions of Americans employed by our nation’s smallest businesses are at risk of unemployment as a result. Approximately 35.7 million Americans employed by small businesses are at risk of unemployment as result of the COVID-19 crisis.
Our survey finds that business owners primarily need financial assistance and penalty-free extensions on expenses.”
They also provide types of questions small business owners should be asking themselves so that they are fully knowledgeable and ready to go when the time comes.
Click on the link down below for more information:https://www.mainstreet.org/blogs/national-main-street-center/2020/04/09/new-report-the-impact-of-covid-19-on-small-busines