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A recent survey from Expertise.com, a top resource for finding leading local experts, shows that two out of three business owners worry about permanent closure following the COVID-19 crisis. The study also revealed that one out of four businesses only have enough cash to keep them afloat for one to three more months.
David Franklin from Expertise.com says statistics from the SBA show that small businesses employ over 58 million people in the U.S., which makes clear how important the small business sector is to the overall economy and our GDP here in this country:
“I believe it’s important for the business community to examine and address the challenges facing small businesses during the COVID-19 pandemic. In one finding from the survey, over 30 percent of businesses surveyed have lost more than half of their revenue,” Franklin said.
To learn more from the study, tune in to this morning’s WJR Business Beat:
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“These are really tough times and the impact on small businesses will have ramifications way beyond the small businesses themselves; it’s going to impact our local communities, our local economies, and certainly the national economy, as well.”
– Jeff Sloan
Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.
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