- As a result of the pandemic, 22% of organizations shut completely, together with 41% of Black-owned and 35% of Hispanic-owned businesses.
- Listed here is a checklist of emergency funding resources available ideal now for modest businesses suffering economic disruption owing to the coronavirus.
- Go to Business enterprise Insider’s homepage for much more tales.
Much more than 99% of all American companies are modest organizations, and they make use of far more than fifty percent of the workforce.
According to US govt research, pure disasters generally cause 40% of compact corporations to are unsuccessful, though one particular in 5 companies closed forever in the 1st months of the COVID-19 pandemic. Among the those people shut businesses are 41% of Black-owned and 35% of Hispanic-owned organizations.
In addition to the quick public health and fitness crisis, the worldwide pandemic kicked off a economic downturn that is further more impacting the survival of smaller companies.
Continue on reading through to see a list of emergency-funding sources out there ideal now from public and personal resources for modest enterprises struggling financial disruption thanks to the coronavirus.
You can check out out all of our PPP-connected coverage right here.
This write-up was final current on January 19, 2021.