Nearly 1/2 of small businesses are going under.

[powderman]

   
Nearly 1/2 of small businesses are going under.
« on: Today at 11:59:07 AM »

https://www.foxbusiness.com/economy/small-businesses-coronavirus-closures-2021#&_intcmp=hp1r_15,hp1r


SMALL BUSINESS UNDER SIEGEPublished 20 mins ago
Nearly half small-business owners fear coronavirus will close their operations by mid-2021
48% are generating revenues below what they needed to stay in business

By Daniella GenoveseFOXBusiness
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Amid strong retail numbers, helping small businesses is key: Wealth manager
A swath of small-business owners who have been fighting tooth and nail to keep their operations alive during the economic downturn fear their businesses won't make it in the new year, according to a new report.

Only 43% of small-business owners believe they have the means to survive through June 2021, according to Alignable's Small Business Funding Needs report.

FACEBOOK SURVEY SHOWS 15% OF SMALL BUSINESSES COLLAPSED IN PANDEMIC

The data, released Wednesday, showed that nearly half of all small businesses are at risk of closing by year's end.

About 48% of owners say they are generating revenues below what they needed to stay in business, a 6% increase from September, when 42% reported they were at risk.


A storefront displays a closed sign as it remains shuttered due to a COVID-19 area infection rate increase in the Far Rockaway neighborhood of the borough of Queens in New York. (AP Photo/John Minchillo)

"It’s been nine long, frustrating months for small business owners as they’ve worked tirelessly to save their businesses, livelihoods, and the jobs of everyone they employ," Alignable CEO Eric Groves wrote in the report.

Groves noted that although droves of small-business owners took advantage of the Paycheck Protection Program -- established by Congress earlier this year to infuse businesses with the funds need to keep employees on the payroll -- it was a short-term fix.

10,000 RESTAURANTS CLOSED OVER LAST 3 MONTHS, REPORT SAYS

Now, 87% say they need additional funds to survive with 60% admitting that the need is "critical."

To help, roughly 82% of the more than 5,000 business owners surveyed said they were looking for loans of $100,000 or less.


A pedestrian walks past a boarded up and closed luggage store in the downtown area of Portland, Oregon on July 20, 2020. (Rebecca Smeyne/Bloomberg via Getty Images)
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Businesses also said that some type of rental assistance, a short-term one-year loan with interest of about 1% or a longer-term, 30-year loan, with a 4% fixed interest rate would help.

Alignable has collected more than 556,000 business owner responses since mid-March in order to assess the recovery of small businesses across the United States and Canada.

Its latest report covered 6,300 U.S. business owner responses during the first week of December.

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[Argent 88]

And I can't even get a haircut anymore. That's an essential business.  A barbershop is not a salon.

[teamnelson]

I think I read its close to 70% locally ... and even the chains are shutting stores. Dunkin' literally at the end of block (dangerous) closed early COVID and a local business was going to move in. COVID dragged, local couldn't move in, and wound up folding. Now we have a slowly degrading property on the Main Street. Many of the closed shops are in a string to where there are a few still going, but empty on either side ... more expensive to heat in winter that way.

[orerancher]

Never Forget the Liberals did This intentionally.... 

[ironglows]

Never Forget the Liberals did This intentionally....

  ....In cooperation with their pals from the CCP !

[Ranger99]

I noticed a store I'd patronized
for some decades went under.
They'd been open for 47 years.
The owner worked for the original
owner for the first 12 years of
the business, then bought the
business and owned it until it
closed. I had thought he was
remodeling, but I found out
he had to fold

[wtxbadger]

My wife started a sewing machine repair business in late 2019 and her business was really starting to pick up about the time Rona showed up. Took several months and things were starting to pick back up but then the second wave of Rona hit and business has slacked back off. Her business was more of a supplement to our retirement income and we are doing ok financially but sure do feel for folks that depend on their small businesses for their daily living.

[Dee]

Hiden Joe Biden gets in, they'll all go under.

[Doublebass73]