COVID-19 Impact on Small Business Could Be Devastating

Latest Polls (view all)

Where do you stand on the Transgender Issue now that the issue has gotten to the overt point of the open celebration of this lifestyle choice, dictated by certain direct and explicit actions.

88.64% I do not approve of behavior that has within its expressed tenants policies that harm children.

10.23% I do support the Trans Community in all its many facets because diversity is at a premium in today's society.

1.14% What is a "Children's Drag Queen Story Hour?"

Click Here to Vote
88 Vote(s)

View all Polls

COVID-19 Impact on Small Business Could Be Devastating

Published: Monday, April 20th, 2020 @ 8:00 am
By: John Locke Foundation ( More Entries )

Charles Fain Lehman of the Washington Free Beacon explores the coronavirus pandemic's crushing blow to an important segment of the American economy.

The novel coronavirus and concurrent nationwide lockdown could see the closure of as many as two in three of America's small businesses, a new survey finds.
Four in 10 small businesses have already temporarily closed due to coronavirus, the survey finds, with many expecting permanent closures in the coming months if the states' lockdowns drag on. Restaurants and entertainment venues expect to be particularly hard hit, with most deeply pessimistic about their ability to come back from a shutdown of more than a few months.
These results are just the latest grim news for an economy battered by SARS-CoV-2, including unemployment at levels unseen since the Great Depression. The particularly dark outlook for small businesses, however, heralds a bigger shift, as their collapse may allow larger firms to further consolidate economic influence.
The survey, conducted by a group of academic economists, covered over 5,800 small businesses-those with 500 or fewer employees-across the United States. Many of those firms have already closed or are shedding workers, with respondents reporting a 40 percent average reduction in payroll as compared with Jan. 31.
That shedding is likely to continue at least through the duration of the crisis, as small business owners report major concerns with both lessened demand and fears for the health of their employees. Many also do not have adequate cash reserves to weather a crisis: One in four do not have enough cash on hand to cover one month's expenses, while one in two could only cover one to two months.
"These limited levels of cash on hand readily explain why layoffs and shutdowns have been so prevalent," the paper notes. "Absent these actions, it is hard to understand how these firms could have met payroll."

Follow Carolina Journal Online's continuing coverage of the COVID-19 pandemic HERE.

Go Back

Login to Leave a Comment

Coronavirus, the Post Office, Ballot Harvesting and–Last but Not Least–North Carolina

John Locke Foundation Guest Editorial, Editorials, Op-Ed & Politics

Coronavirus Aftermath: The Future Could Be Better

Our Members

ENCN Sign Up

BCN Home

Beaufort Observer

Portfolios

Current Events: A Historical Perspective

Current Weather

Latest Comments

Latest Polls

Featured Entries

Latest Entries

COVID-19 Impact on Small Business Could Be Devastating | Eastern NC Now

COVID-19 Impact on Small Business Could Be Devastating

Leave a Guest Comment

Latest Op-Ed & Politics

Virginia Supreme Court strikes down Democrats gerrymandering referendum

Illegal alien migrants behaving badly - migrants and crime NEWLY UPDATED

anti-immigration Reform Party winning English local elections in apparent landslide UPDATE

Truth for our times: Assassination Attempt, Social Media & Profanity Plague

UN's IPCC climate panel finally admits that doomsday climate scenarios are "implausible"

New poll: 60% of Americans blame the media for assassination attempts on Trump

FBI raids office of Democrat VA Senate President Pro Tem in major corruption probe

RNC Statement on Roy Cooper in Greensboro

GOP voters in Indiana oust 7 state senate RINOs and replace with Trunp backed conservatives

Cooper released 3,500 “hardened criminals out of the NC prisons

Alberta independence from Canada petition submitted with almost 2X number needed

Another de-transitioner wins court settlement for trans surgery genital mutilation

Dominican Republic has mass deportation of Haitian migrants, while Obama judges stop it here

Henry Hinton: "NCAE teachers union rally in Raleigh was like a communist / left wing rally".

Democrat federal candidates make threats on President Trump's life, one arrested

new poll: 60% of French people believe native population being replaced by 3rd world migrants

14,000 food stamps ("SNAP") users were driving luxury cars in just ONE STATE,

Hollywood Still Blacklists Conservatives — Now They Don’t Even Hide It

NC federal grand jury indicts Comey on charges he threatened Trump

The Abortion Industry Simply Changed Tactics. Now Congress Must Act.

Trump Admin Shuts Down Sham Charities Caught Bankrolling Hamas

51 Prisoners To Be Freed As Cuba Shows Cracks Under Trump Pressure

‘Andre the Giant’ marker puts smalltown Ellerbe into spotlight

Republicans Petition for New Meetings

What Happens When A Naturalized Citizen Commits Terror In America?

teachers unions push WEF globalist propaganda in schools; NH legislature fights back

US Justice Department to enforce SCOTUS ruling against states with racial gerrymanders