A whopping 96% of small businesses have already been negatively impacted by the American shutdowns from the global coronavirus pandemic, Axios reported.
The data was reported from a Goldman Sachs survey of more than 1,500 small business owners conducted March 16-17.
More than half of those surveyed say their business will not survive more than three months of economic strain, and just 13% are confident in their pandemic contingency plans, according to the results.
The survey says:
- 96% say they have already been impacted by the outbreak.
- 75% say their business has been impacted by fewer sales.
- 53% say their employees do not have the ability to telecommute.
- 51% say their business will only be able to continue to operate for 0-3 months.
- 13% are confident about their contingency plans to maintain.
"Much of the conversation around the economic effects of the outbreak has centered on the stock market and bailouts for large corporations, but its most acute impacts are being felt on Main Streets around the country," Axios' report surmised.
Eric Mack ✉
Eric Mack has been a writer and editor at Newsmax since 2016. He is a 1998 Syracuse University journalism graduate and a New York Press Association award-winning writer.
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