Winter Is Coming: 62% Of U.S. Small Business Owners “Fear The Worst Is Still To Come”
Michael Snyder
The official start of winter is just a few days away, and many small business owners are concerned that their businesses won’t be able to make it to the start of spring. This is particularly true for those small businesses that rely on face to face interaction with the general public. Restaurants, bars, gyms, coffee shops, hairdressers and independent retailers all over the nation were absolutely devastated by the first round of lockdowns, and now a new round of lockdowns is dealing death blows to countless businesses that had hoped to find a way to heal and get back on their feet in 2021. Politicians such as California Governor Gavin Newsom and New York Governor Andrew Cuomo don’t seem to care that they are literally destroying millions of hopes and dreams. If and when this pandemic finally ends, they will get to go on with their normal lives, but vast numbers of their constituents will not.
According to a brand new U.S. Chamber-MetLife poll of small businesses, just 40 percent of all U.S. small business owners “believe their small businesses can operate indefinitely” the way things are going right now, and a whopping 62 percent of them are convinced that “the worst is still to come”…
The quarterly poll found that the 62% of small-business owners fear that the worst is still to come with COVID-19’s economic impact. Only 40% said they believe their small businesses can operate indefinitely during the current business environment.
Those numbers are consistent with what other recent surveys of small businesses have shown.
There are approximately 30 million small businesses in the United States today, and so that means that if even a third of them were forced to close down permanently we would lose 10 million small businesses.
Can you imagine what that would mean for the economy as a whole?
That same U.S. Chamber-MetLife poll of small businesses also found that 74 percent of all U.S. small business owners “need further government assistance to weather the pandemic”…
A new U.S. Chamber-MetLife poll of small businesses taken from Oct. 30-Nov. 10 and released on Tuesday showed that 74% of the owners said they need further government assistance to weather the pandemic. That percentage rises to 81% for minority-owned businesses.
