Small Business Needs for an Equitable Recovery
Can small businesses survive COVID-19?
A new survey from The MassINC Polling Group aims to answer that question.
On Thursday, July 23, MassINC and The MassINC Polling Group presented the results from a timely survey of small businesses in Massachusetts, focusing on the impacts of COVID-19 on small businesses.
Small businesses in Massachusetts have suffered serious damage due to the COVID-19 pandemic, with just one in three reporting they are fully open. Financial results for the first half of the year show the scale of the challenge, with 64% of small businesses reporting drops in gross revenue of 25% or more for the first half of 2020. Nearly half (46%) of small businesses say they have laid off or furloughed employees, including 77% of restaurants. Businesses owned by women and people of color have been hit particularly hard and report greater financial losses.
Watch the full Zoom forum recording:Click here to review Steve’s slides, poll press release and cross tabs.