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How to pay rent this month as a small business owner in the United States or Canada? Everything is no longer all great in America. The top 10 most-impacted U.S. States with more than 90% of small businesses on the brink of collapse due to the Coronavirus epidemic reflect swings this week.The saddest US States for small business owners are :
- Montana (97%)
- District of Columbia (94.7%)
- Minnesota (93%)
- Hawaii (92.3%)
- Louisiana (92.3%)
- Oregon (92%)
- Arkansas (91.1%)
- Kentucky (91.1%)
- New Jersey (91%)
- Idaho (90.8%)
Here are some answers from a survey done by alignable.
- 340K small business owners to date have weighed in. Amazing participation, let’s keep that momentum going.
- “Impact on the decline” appeared on the Impact Over Time Chart for the first time!About 4% of small business owners in31 states & 6 provinces signaled this trend.
- Other States & Provinces are way UP or way DOWN: 40 states & the District of Columbia also reported overall increases in impact. And 10 had steep decreases. It’s like riding a see-saw.
- The overall impact is still high, remaining around 85%.
- CARES ACT LOAN UPDATE — A bit better.
- 38.8% didn’t apply
- 30.2% applied, haven’t heard back
- 9.8% tried to apply, unable to submit
- 4.4% were denied
- 5.2% were approved, but haven’t received funds
- Only 11.6% were approved & have cash (up from 8%)
- Lacking funds, 34% of small businesses can’t pay May rent