COVID Impact: Phase I US Small Business Survey
Updated: Aug 15
The results from the 1st phase of the COVID Impact: US Small Business Survey results from the Small Business Administration results are in. Although US COVID cases continue to rise as shown in Fig.1 below, there are signs of decreasing momentum as the US government issues new economic relief and some states enforce new social distancing restrictions.
Fig. 1 - US COVID-19 Cases - Source: John Hopkins
As shown in the graph below, small business owners believe the period of economic recovery will take longer than 6 months.
Fig. 2 - % of Businesses perceived length of time to return to Pre-COVID levels (national)
Fig. 3 below reveal small business companies within the Utilities sector have not been as negatively impacted as their counterparts in the Arts, Food, Educational Services, Travel and Hospitality sectors. Those sectors in the Information, Retail, Finance and Insurance, Management of Companies and Construction are below the national average of 37.7% however continue to experience a decrease in revenue.
Fig.3 - Overall impact vs % Change in Revenues (national)
As shown in Fig. 4 below the percentage of small businesses who have experienced decreasing operating revenues has fallen which suggests some signs of recovery in the beginning of Q3 2020.
Fig.4 - % of Businesses impacted by a Change in Operating Revenues (national)
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