A swat Small business Owners who struggle with tooth and nail to keep their operations alive during the economic downturn fear for their businesses It will not build In the new year, according to a new report.
Only 43% of small business owners believe they have a way to survive by June 2021 Small Business Financing Requirements Report.
Data released on Wednesday shows that almost all small businesses are at risk of closing by the end of the year.
About 48% of owners say they earn more than they need to stay in business, an increase of 6% since September, with 42% at risk.
“These are nine long, disgusting months because small business owners have worked tirelessly to save their businesses, livelihoods and the jobs of everyone they work for,” Editable CEO Eric Groves wrote in a statement.
Groves noted that small business owners are taking advantage of the run Check security plan – Businesses with funds set up by Congress earlier this year should keep employees in the payroll – this is a short-term solution.
Now, 87% say they need extra funding, while 60% agree that the need is “important”.
To help, about 82% of the more than 5,000 business owners surveyed said they were looking for loans of $ 100,000 or less.
Businesses said some types of rental assistance, such as a short-term one-year loan with an interest rate of about 1% or a long-term, 30-year loan with a fixed interest rate of 4%, would help.
Alignable has collected more than 556,000 business owner responses since mid-March to assess the recovery of small businesses across the United States and Canada.
Its latest report covers 6,300 U.S. business owner responses in the first week of December.