Gloom grips US small businesses, with 52% predicting failure

[Yo_Mama_Been_Loggin]

COVID-19 could shutter most American small businesses.

That’s according to a new survey from the Society for Human Resource Management which found that 52% expect to be out of business within six months. The survey of 375 firms was conducted between April 15-21 and doesn’t account for improved business conditions as some U.S. states reopen this month.

“SHRM has tracked Covid-19’s impact on work, workers, and the workplace for months,” said SHRM Chief Executive Officer Johnny C. Taylor, Jr., “but these might be the most alarming findings to date. Small business is truly the backbone of our economy. So, when half say they’re worried about being wiped out, let’s remember: We’re talking about roughly 14 million businesses.”

Just over a third of small firms expect that they can continue to operate more that 6 months, while 14% are uncertain, according to the survey. About one quarter of firms have seen revenues rise or remain unchanged in recent months.

https://www.msn.com/en-us/money/smallbusiness/gloom-grips-us-small-businesses-with-52percent-predicting-failure/ar-BB13HFZg?li=BBnbfcN

[SunSeeker]

1. Devastating. nt

[Initech]

2. I've known several who have shuttered already.

And they won't be the last either. This is the worst.

[msongs]

3. get back the $ given to companies with shareholders and give to individual small biz.

corporations with shareholders can get their bailout from speculators (the share holders)