Survey: 90% of Small Business Owners Impacted by Coronavirus

The coronavirus is impairing the livelihoods of 90% of small business owners across the U.S. and Canada, with more than one-third reporting they have only a couple of weeks of cash to sustain them, according to the latest Alignable Small Business Pulse Polls.

These weekly surveys have monitored small business reactions to the coronavirus threat since March 13, 2020. The ongoing poll has 217,000 responses to date, making it the largest, most representative survey of small business owners available.

As part of that poll, the Top 10 States and Top 3 Provinces have been identified where the small business impact has been the most severe.

In the U.S., states in the worst shape include:

  1. Alaska (98%)
  2. Rhode Island (95%)
  3. District of Columbia (94.6%)
  4. Vermont (93.4%)
  5. Washington (92.5%)
  6. New Jersey (91.5%)
  7. New York (91.4%)
  8. Michigan (91.2%)
  9. Louisiana (91.1%)
  10. West Virginia (91.1%)

In Canada, these provinces are struggling the most:

  1. Saskatchewan (93.1%)
  2. Ontario (91.3%)
  3. New Brunswick (91.2%)

While the situation for small businesses across North America remains dire, a ray of hope emerged yesterday: 60% of all struggling small business owners say they’re receiving support from their community to weather the storm.

Networking groups, customers, and other business owners in the same industry were listed among the most supportive segments. The majority of support (52%) was either monetary (16%) or morale-boosting (36%).

The surveys were conducted via email with a random sample of Alignable’s membership database of more than 4.5 million small business owners. The large Pulse Poll includes results from March 13 to April 6, 2020, and 217,000 responses from small business owners. The survey on community support includes results from April 4-6, 2020, and 16,900 responses. All surveys include small business owners with one to 50 employees.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.